RCAX vs. QQQY

Last updated Jun 6, 2026

RCAX (Defiance Daily Target 2X Long RCAT ETF) and QQQY (Defiance Nasdaq 100 Enhanced Options Income ETF) are both exchange-traded funds - RCAX is a Leveraged Equities fund tracking the Red Cat Holdings, Inc. (RCAT), while QQQY is a Nasdaq-100 fund actively managed by Defiance. RCAX is passively managed, while QQQY is actively managed. At a 0.34 correlation, their price movements are largely independent. RCAX charges 1.31%/yr vs 0.99%/yr for QQQY.

Performance

RCAX vs. QQQY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long RCAT ETF (RCAX) and Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

RCAX

• 1D: -28.03%
• 1M: 16.56%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QQQY

• 1D: -4.74%
• 1M: 0.94%
• YTD: 13.21%
• 6M: 12.67%
• 1Y: 29.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RCAX vs. QQQY - Yearly Performance Comparison

	2026 (YTD)
RCAX Defiance Daily Target 2X Long RCAT ETF	-56.40%
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	13.26%

Correlation

The correlation between RCAX and QQQY is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 4, 2026	0.34

Return for Risk

RCAX vs. QQQY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

QQQY

QQQY Risk / Return Rank: 61
QQQY Sharpe Ratio Rank: 63
QQQY Sortino Ratio Rank: 55
QQQY Omega Ratio Rank: 66
QQQY Calmar Ratio Rank: 56
QQQY Martin Ratio Rank: 64

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

RCAX vs. QQQY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long RCAT ETF (RCAX) and Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	RCAX	QQQY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.07	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.37	1.08	-1.46

Drawdowns

RCAX vs. QQQY - Drawdown Comparison

The maximum RCAX drawdown since its inception was -81.30%, which is greater than QQQY's maximum drawdown of -19.05%. Use the drawdown chart below to compare losses from any high point for RCAX and QQQY.

Drawdown Indicators

	RCAX	QQQY	Difference
Max Drawdown Largest peak-to-trough decline	-81.30%	-19.05%	-62.25%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.14%	—
Current Drawdown Current decline from peak	-63.85%	-5.27%	-58.58%
Average Drawdown Average peak-to-trough decline	-44.08%	-2.91%	-41.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.63%	—

Volatility

Volatility by Period

	RCAX	QQQY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.42%	—
Volatility (6M) Calculated over the trailing 6-month period	—	12.35%	—
Volatility (1Y) Calculated over the trailing 1-year period	245.47%	14.50%	+230.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	245.47%	15.02%	+230.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	245.47%	15.02%	+230.45%

RCAX vs. QQQY - Expense Ratio Comparison

RCAX has a 1.31% expense ratio, which is higher than QQQY's 0.99% expense ratio.

Dividends

RCAX vs. QQQY - Dividend Comparison

RCAX has not paid dividends to shareholders, while QQQY's dividend yield for the trailing twelve months is around 36.12%.

Position	TTM	2025	2024	2023
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	36.12%	45.34%	83.34%	20.64%
RCAX Defiance Daily Target 2X Long RCAT ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both RCAX and QQQY in my portfolio?

RCAX and QQQY have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, RCAX or QQQY?

On fees, QQQY is cheaper at 0.99% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, RCAX or QQQY?

QQQY is cheaper with a 0.99% expense ratio, compared with 1.31% for RCAX.

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

QQQY has the higher dividend yield at 36.12%, compared with 0.00% for RCAX.

What is the main difference between RCAX and QQQY?

RCAX is categorized as Leveraged Equities, while QQQY is Nasdaq-100. Their fees differ too: 1.31% for RCAX and 0.99% for QQQY.