SDTY vs. QDTE

Last updated Jun 4, 2026

SDTY (YieldMax S&P 500 0DTE Covered Call Strategy ETF) and QDTE (Roundhill Innovation-100 0DTE Covered Call Strategy ETF) are both Derivative Income funds. Both are actively managed. Over the past year, SDTY returned 25.63% vs 40.36% for QDTE. Their correlation of 0.90 suggests significant overlap in exposure. SDTY charges 1.01%/yr vs 0.97%/yr for QDTE.

Performance

SDTY vs. QDTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax S&P 500 0DTE Covered Call Strategy ETF (SDTY) and Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SDTY achieves a 8.45% return, which is significantly lower than QDTE's 16.58% return.

SDTY

• 1D: -0.51%
• 1M: 4.38%
• YTD: 8.45%
• 6M: 8.89%
• 1Y: 25.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QDTE

• 1D: -0.16%
• 1M: 8.99%
• YTD: 16.58%
• 6M: 16.20%
• 1Y: 40.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SDTY vs. QDTE - Yearly Performance Comparison

	2026 (YTD)	2025
SDTY YieldMax S&P 500 0DTE Covered Call Strategy ETF	8.45%	9.83%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	16.58%	14.65%

Correlation

The correlation between SDTY and QDTE is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.89
Correlation (All Time) Calculated using the full available price history since Feb 7, 2025	0.90

The correlation between SDTY and QDTE has been stable across timeframes, ranging from 0.89 to 0.90 - a consistent structural relationship.

SDTY vs. QDTE - Sectors Allocation Comparison

Sectors	SDTY	QDTE
Technology	35.6%	-
Financial Services	11.8%	5.4%
Communication Services	11.2%	-
Consumer Cyclical	10.1%	-
Healthcare	8.5%	-
Industrials	8.3%	-
Consumer Defensive	4.9%	-
Energy	3.5%	-
Utilities	2.4%	-
Real Estate	1.9%	-
Basic Materials	1.8%	-

Return for Risk

SDTY vs. QDTE — Risk / Return Rank

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

SDTY

SDTY Risk / Return Rank: 70
SDTY Sharpe Ratio Rank: 71
SDTY Sortino Ratio Rank: 70
SDTY Omega Ratio Rank: 72
SDTY Calmar Ratio Rank: 64
SDTY Martin Ratio Rank: 72

QDTE

QDTE Risk / Return Rank: 78
QDTE Sharpe Ratio Rank: 82
QDTE Sortino Ratio Rank: 76
QDTE Omega Ratio Rank: 78
QDTE Calmar Ratio Rank: 77
QDTE Martin Ratio Rank: 80

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.

SDTY vs. QDTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax S&P 500 0DTE Covered Call Strategy ETF (SDTY) and Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE). 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.

	SDTY	QDTE	Difference
Sharpe ratio: Return per unit of total volatility	2.34	2.74	-0.40
Sortino ratio: Return per unit of downside risk	3.21	3.49	-0.28
Omega ratio: Gain probability vs. loss probability	1.43	1.47	-0.04
Calmar ratio: Return relative to maximum drawdown	3.21	3.98	-0.76
Martin ratio: Return relative to average drawdown	13.58	16.08	-2.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SDTY vs. QDTE - Sharpe Ratio Comparison

The current SDTY Sharpe Ratio is 2.34, which is comparable to the QDTE Sharpe Ratio of 2.74. The chart below compares the historical Sharpe Ratios of SDTY and QDTE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SDTY	QDTE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.34	2.74	-0.40
Sharpe Ratio (All Time) Calculated using the full available price history	0.85	1.30	-0.45

Drawdowns

SDTY vs. QDTE - Drawdown Comparison

The maximum SDTY drawdown since its inception was -18.63%, smaller than the maximum QDTE drawdown of -22.86%. Use the drawdown chart below to compare losses from any high point for SDTY and QDTE.

Drawdown Indicators

	SDTY	QDTE	Difference
Max Drawdown Largest peak-to-trough decline	-18.63%	-22.86%	+4.23%
Max Drawdown (1Y) Largest decline over 1 year	-8.02%	-10.20%	+2.18%
Current Drawdown Current decline from peak	-0.62%	-0.16%	-0.46%
Average Drawdown Average peak-to-trough decline	-3.02%	-3.14%	+0.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.89%	2.52%	-0.63%

Volatility

SDTY vs. QDTE - Volatility Comparison

The current volatility for YieldMax S&P 500 0DTE Covered Call Strategy ETF (SDTY) is 2.58%, while Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE) has a volatility of 3.75%. This indicates that SDTY experiences smaller price fluctuations and is considered to be less risky than QDTE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SDTY	QDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.58%	3.75%	-1.17%
Volatility (6M) Calculated over the trailing 6-month period	8.39%	11.01%	-2.62%
Volatility (1Y) Calculated over the trailing 1-year period	11.00%	14.81%	-3.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.79%	18.43%	-1.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.79%	18.43%	-1.64%

SDTY vs. QDTE - Expense Ratio Comparison

SDTY has a 1.01% expense ratio, which is higher than QDTE's 0.97% expense ratio.

Dividends

SDTY vs. QDTE - Dividend Comparison

SDTY's dividend yield for the trailing twelve months is around 25.97%, less than QDTE's 42.16% yield.

Position	TTM	2025	2024
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	42.16%	49.49%	32.09%
SDTY YieldMax S&P 500 0DTE Covered Call Strategy ETF	25.97%	22.00%	0.00%

Frequently Asked Questions

Can I hold both SDTY and QDTE in my portfolio?

SDTY and QDTE have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SDTY or QDTE?

QDTE has higher volatility (3.75%) compared to SDTY (2.58%). In terms of maximum drawdown, SDTY dropped -18.63% vs QDTE's -22.86%.

Which ETF is better, SDTY or QDTE?

On 1-year performance, QDTE leads with 40.36% vs 25.63% for SDTY. On fees, QDTE is cheaper at 0.97% per year. On volatility, SDTY has been the lower-risk option at 2.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SDTY or QDTE?

Over the 1-year period, QDTE has performed better with a 40.36% return vs 25.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SDTY or QDTE?

QDTE is cheaper with a 0.97% expense ratio, compared with 1.01% for SDTY.

Which ETF pays a higher dividend yield, SDTY or QDTE?

QDTE has the higher dividend yield at 42.16%, compared with 25.97% for SDTY.

What is the main difference between SDTY and QDTE?

They also come from different issuers: YieldMax and Roundhill. Their fees differ too: 1.01% for SDTY and 0.97% for QDTE.

Which has better risk-adjusted returns?

QDTE currently has the higher Sharpe Ratio (2.74 vs 2.34), 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.