RIOX vs. QQQY

Last updated Jul 12, 2026

RIOX (Defiance Daily Target 2X Long RIOT ETF) and QQQY (Defiance Nasdaq 100 Enhanced Options Income ETF) are both exchange-traded funds - RIOX is a Leveraged Equities fund actively managed by Defiance, while QQQY is a Nasdaq-100 fund actively managed by Defiance. Both are actively managed. Over the past year, RIOX returned -4.51% vs 28.65% for QQQY. A 0.58 correlation means they provide meaningful diversification when combined. RIOX charges 0.95%/yr vs 0.99%/yr for QQQY.

Performance

RIOX vs. QQQY - Performance Comparison

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

Returns By Period

In the year-to-date period, RIOX achieves a 56.03% return, which is significantly higher than QQQY's 17.26% return.

RIOX

• 1D: -5.15%
• 1M: -40.16%
• 6M: 8.91%
• YTD: 56.03%
• 1Y: -4.51%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QQQY

• 1D: 0.20%
• 1M: 2.14%
• 6M: 15.06%
• YTD: 17.26%
• 1Y: 28.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RIOX vs. QQQY - Yearly Performance Comparison

	2026 (YTD)	2025
RIOX Defiance Daily Target 2X Long RIOT ETF	56.03%	-47.32%
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	17.26%	14.62%

Correlation

The correlation between RIOX and QQQY is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.55
Correlation (All Time) Calculated using the full available price history since Jan 3, 2025	0.58

The correlation between RIOX and QQQY has been stable across timeframes, ranging from 0.55 to 0.58 - a consistent structural relationship.

Return for Risk

RIOX vs. QQQY — Risk / Return Rank

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

RIOX

RIOX Risk / Return Rank: 15
RIOX Sharpe Ratio Rank: 9
RIOX Sortino Ratio Rank: 26
RIOX Omega Ratio Rank: 25
RIOX Calmar Ratio Rank: 8
RIOX Martin Ratio Rank: 9

QQQY

QQQY Risk / Return Rank: 66
QQQY Sharpe Ratio Rank: 67
QQQY Sortino Ratio Rank: 60
QQQY Omega Ratio Rank: 69
QQQY Calmar Ratio Rank: 64
QQQY Martin Ratio Rank: 70

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.

RIOX vs. QQQY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long RIOT ETF (RIOX) 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.

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.

	RIOX	QQQY	Difference
Sharpe ratio: Return per unit of total volatility	-0.04	1.75	-1.79
Sortino ratio: Return per unit of downside risk	1.20	2.27	-1.07
Omega ratio: Gain probability vs. loss probability	1.14	1.33	-0.18
Calmar ratio: Return relative to maximum drawdown	-0.09	2.58	-2.66
Martin ratio: Return relative to average drawdown	-0.14	10.18	-10.31

RIOX vs. QQQY - Sharpe Ratio Comparison

The current RIOX Sharpe Ratio is -0.04, which is lower than the QQQY Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of RIOX and QQQY, 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

RIOX vs. QQQY - Drawdown Comparison

The maximum RIOX drawdown since its inception was -84.40%, which is greater than QQQY's maximum drawdown of -19.05%. Use the drawdown chart below to compare losses from any high point for RIOX and QQQY.

Drawdown Indicators

	RIOX	QQQY	Difference
Max Drawdown Largest peak-to-trough decline	-84.40%	-19.05%	-65.35%
Max Drawdown (1Y) Largest decline over 1 year	-84.40%	-11.14%	-73.26%
Current Drawdown Current decline from peak	-62.53%	-1.88%	-60.65%
Average Drawdown Average peak-to-trough decline	-51.64%	-2.91%	-48.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	52.20%	2.82%	+49.38%

Volatility

RIOX vs. QQQY - Volatility Comparison

Defiance Daily Target 2X Long RIOT ETF (RIOX) has a higher volatility of 44.93% compared to Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY) at 8.12%. This indicates that RIOX's price experiences larger fluctuations and is considered to be riskier than QQQY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RIOX	QQQY	Difference
Volatility (1M) Calculated over the trailing 1-month period	44.93%	8.12%	+36.81%
Volatility (6M) Calculated over the trailing 6-month period	123.96%	14.40%	+109.56%
Volatility (1Y) Calculated over the trailing 1-year period	169.28%	16.46%	+152.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	168.91%	15.54%	+153.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	168.91%	15.54%	+153.37%

RIOX vs. QQQY - Expense Ratio Comparison

RIOX has a 0.95% expense ratio, which is lower than QQQY's 0.99% expense ratio.

Dividends

RIOX vs. QQQY - Dividend Comparison

RIOX's dividend yield for the trailing twelve months is around 38.94%, more than QQQY's 36.00% yield.

Position	TTM	2025	2024	2023
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	36.00%	45.34%	83.34%	20.64%
RIOX Defiance Daily Target 2X Long RIOT ETF	38.94%	60.76%	0.00%	0.00%

Frequently Asked Questions

Can I hold both RIOX and QQQY in my portfolio?

RIOX and QQQY have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RIOX or QQQY?

RIOX has higher volatility (44.93%) compared to QQQY (8.12%). In terms of maximum drawdown, RIOX dropped -84.40% vs QQQY's -19.05%.

Which ETF is better, RIOX or QQQY?

On 1-year performance, QQQY leads with 28.65% vs -4.51% for RIOX. On fees, RIOX is cheaper at 0.95% per year. On volatility, QQQY has been the lower-risk option at 8.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RIOX or QQQY?

Over the 1-year period, QQQY has performed better with a 28.65% return vs -4.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RIOX or QQQY?

RIOX is cheaper with a 0.95% expense ratio, compared with 0.99% for QQQY.

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

RIOX has the higher dividend yield at 38.94%, compared with 36.00% for QQQY.

What is the main difference between RIOX and QQQY?

RIOX is categorized as Leveraged Equities, while QQQY is Nasdaq-100. Their fees differ too: 0.95% for RIOX and 0.99% for QQQY.

Which has better risk-adjusted returns?

QQQY currently has the higher Sharpe Ratio (1.75 vs -0.04), 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.