QQQY vs. YMAX

Last updated Jul 31, 2026

QQQY (Defiance Nasdaq 100 Enhanced Options Income ETF) and YMAX (YieldMax Universe Fund of Option Income ETFs) are both exchange-traded funds - QQQY is a Nasdaq-100 fund actively managed by Defiance, while YMAX is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, QQQY returned 18.24% vs -7.07% for YMAX. Their correlation of 0.80 means they have usually moved in the same direction. QQQY charges 0.99%/yr vs 1.28%/yr for YMAX.

Performance

QQQY vs. YMAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY) and YieldMax Universe Fund of Option Income ETFs (YMAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQQY achieves a 11.55% return, which is significantly higher than YMAX's -1.34% return.

QQQY

• 1D: 3.34%
• 1M: -6.33%
• 6M: 9.46%
• YTD: 11.55%
• 1Y: 18.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.62%

YMAX

• 1D: 1.10%
• 1M: -4.94%
• 6M: -0.50%
• YTD: -1.34%
• 1Y: -7.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 11.84%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	$1.93M	$2.14M	$2.94M
YMAX YieldMax Universe Fund of Option Income ETFs	$10.70M	$11.69M	$14.63M

QQQY vs. YMAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	11.55%	14.96%	7.82%
YMAX YieldMax Universe Fund of Option Income ETFs	-1.34%	6.04%	26.90%

Correlation

The correlation between QQQY and YMAX is 0.80, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.80
Correlation (All Time) Calculated using the full available price history since Jan 17, 2024	0.80

The correlation between QQQY and YMAX has been stable across timeframes, ranging from 0.80 to 0.80 - a consistent structural relationship.

Return for Risk

QQQY vs. YMAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

QQQY

QQQY Risk / Return Rank: 47
QQQY Sharpe Ratio Rank: 45
QQQY Sortino Ratio Rank: 42
QQQY Omega Ratio Rank: 46
QQQY Calmar Ratio Rank: 49
QQQY Martin Ratio Rank: 53

YMAX

YMAX Risk / Return Rank: 7
YMAX Sharpe Ratio Rank: 7
YMAX Sortino Ratio Rank: 7
YMAX Omega Ratio Rank: 7
YMAX Calmar Ratio Rank: 8
YMAX Martin Ratio Rank: 7

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

QQQY vs. YMAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY) and YieldMax Universe Fund of Option Income ETFs (YMAX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	QQQY	YMAX	Difference
Sharpe ratio: Return per unit of total volatility	1.05	-0.29	+1.35
Sortino ratio: Return per unit of downside risk	1.48	-0.25	+1.73
Omega ratio: Gain probability vs. loss probability	1.20	0.97	+0.23
Calmar ratio: Return relative to maximum drawdown	1.64	-0.27	+1.92
Martin ratio: Return relative to average drawdown	5.84	-0.61	+6.45

QQQY vs. YMAX - Sharpe Ratio Comparison

The current QQQY Sharpe Ratio is 1.05, which is higher than the YMAX Sharpe Ratio of -0.29. The chart below compares the historical Sharpe Ratios of QQQY and YMAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

QQQY vs. YMAX - Drawdown Comparison

The maximum QQQY drawdown since its inception was -19.05%, smaller than the maximum YMAX drawdown of -26.13%. Use the drawdown chart below to compare losses from any high point for QQQY and YMAX.

Drawdown Indicators

	QQQY	YMAX	Difference
Max Drawdown Largest peak-to-trough decline	-19.05%	-26.13%	+7.08%
Max Drawdown (1Y) Largest decline over 1 year	-11.14%	-26.13%	+14.99%
Current Drawdown Current decline from peak	-6.65%	-12.53%	+5.88%
Average Drawdown Average peak-to-trough decline	-2.96%	-6.56%	+3.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.13%	11.69%	-8.56%

Volatility

QQQY vs. YMAX - Volatility Comparison

Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY) and YieldMax Universe Fund of Option Income ETFs (YMAX) have volatilities of 6.56% and 6.33%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQY	YMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.56%	6.33%	+0.23%
Volatility (6M) Calculated over the trailing 6-month period	15.24%	20.32%	-5.08%
Volatility (1Y) Calculated over the trailing 1-year period	17.40%	24.24%	-6.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.76%	23.52%	-7.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.76%	23.52%	-7.76%

QQQY vs. YMAX - Expense Ratio Comparison

QQQY has a 0.99% expense ratio, which is lower than YMAX's 1.28% expense ratio.

Dividends

QQQY vs. YMAX - Dividend Comparison

QQQY's dividend yield for the trailing twelve months is around 38.51%, less than YMAX's 75.44% yield.

Position	TTM	2025	2024	2023
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	38.51%	45.34%	83.34%	20.64%
YMAX YieldMax Universe Fund of Option Income ETFs	75.44%	78.70%	44.20%	0.00%

Frequently Asked Questions

Can I hold both QQQY and YMAX in my portfolio?

QQQY and YMAX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQQY or YMAX?

QQQY has higher volatility (6.56%) compared to YMAX (6.33%). In terms of maximum drawdown, QQQY dropped -19.05% vs YMAX's -26.13%.

Which ETF is better, QQQY or YMAX?

On 1-year performance, QQQY leads with 18.24% vs -7.07% for YMAX. On fees, QQQY is cheaper at 0.99% per year. On volatility, YMAX has been the lower-risk option at 6.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQQY or YMAX?

Over the 1-year period, QQQY has performed better with a 18.24% return vs -7.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQQY or YMAX?

QQQY is cheaper with a 0.99% expense ratio, compared with 1.28% for YMAX.

Which ETF pays a higher dividend yield, QQQY or YMAX?

YMAX has the higher dividend yield at 75.44%, compared with 38.51% for QQQY.

What is the main difference between QQQY and YMAX?

QQQY is categorized as Nasdaq-100, while YMAX is Derivative Income. They also come from different issuers: Defiance and YieldMax. Their fees differ too: 0.99% for QQQY and 1.28% for YMAX.

Which has better risk-adjusted returns?

QQQY currently has the higher Sharpe Ratio (1.05 vs -0.29), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.