SDTY vs. QQQY

Last updated Jul 21, 2026

SDTY (YieldMax S&P 500 0DTE Covered Call Strategy ETF) and QQQY (Defiance Nasdaq 100 Enhanced Options Income ETF) are both exchange-traded funds - SDTY is a Derivative Income fund actively managed by YieldMax, while QQQY is a Nasdaq-100 fund actively managed by Defiance. Both are actively managed. Over the past year, SDTY returned 17.90% vs 21.87% for QQQY. Their correlation of 0.83 suggests significant overlap in exposure. SDTY charges 1.01%/yr vs 0.99%/yr for QQQY.

Performance

SDTY vs. QQQY - 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 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, SDTY achieves a 7.95% return, which is significantly lower than QQQY's 12.87% return.

SDTY

• 1D: -0.05%
• 1M: 0.07%
• 6M: 6.33%
• YTD: 7.95%
• 1Y: 17.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.36%

QQQY

• 1D: -0.07%
• 1M: -4.79%
• 6M: 11.42%
• YTD: 12.87%
• 1Y: 21.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.24%

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

SDTY vs. QQQY - Yearly Performance Comparison

	2026 (YTD)	2025
SDTY YieldMax S&P 500 0DTE Covered Call Strategy ETF	7.95%	9.67%
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	12.87%	13.09%

Correlation

The correlation between SDTY and QQQY is 0.85, 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	0.85
Correlation (All Time) Calculated using the full available price history since Feb 6, 2025	0.83

The correlation between SDTY and QQQY has been stable across timeframes, ranging from 0.83 to 0.85 - a consistent structural relationship.

Return for Risk

SDTY vs. QQQY — Risk / Return Rank

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

SDTY

SDTY Risk / Return Rank: 63
SDTY Sharpe Ratio Rank: 62
SDTY Sortino Ratio Rank: 60
SDTY Omega Ratio Rank: 62
SDTY Calmar Ratio Rank: 60
SDTY Martin Ratio Rank: 68

QQQY

QQQY Risk / Return Rank: 51
QQQY Sharpe Ratio Rank: 50
QQQY Sortino Ratio Rank: 45
QQQY Omega Ratio Rank: 51
QQQY Calmar Ratio Rank: 52
QQQY Martin Ratio Rank: 59

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. QQQY - 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 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.

	SDTY	QQQY	Difference
Sharpe ratio: Return per unit of total volatility	1.54	1.31	+0.23
Sortino ratio: Return per unit of downside risk	2.14	1.77	+0.37
Omega ratio: Gain probability vs. loss probability	1.28	1.25	+0.03
Calmar ratio: Return relative to maximum drawdown	2.24	1.97	+0.27
Martin ratio: Return relative to average drawdown	8.97	7.58	+1.39

SDTY vs. QQQY - Sharpe Ratio Comparison

The current SDTY Sharpe Ratio is 1.54, which is comparable to the QQQY Sharpe Ratio of 1.31. The chart below compares the historical Sharpe Ratios of SDTY 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

SDTY vs. QQQY - Drawdown Comparison

The maximum SDTY drawdown since its inception was -18.63%, roughly equal to the maximum QQQY drawdown of -19.05%. Use the drawdown chart below to compare losses from any high point for SDTY and QQQY.

Drawdown Indicators

	SDTY	QQQY	Difference
Max Drawdown Largest peak-to-trough decline	-18.63%	-19.05%	+0.42%
Max Drawdown (1Y) Largest decline over 1 year	-8.02%	-11.14%	+3.12%
Current Drawdown Current decline from peak	-1.25%	-5.55%	+4.30%
Average Drawdown Average peak-to-trough decline	-2.89%	-2.92%	+0.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.00%	2.89%	-0.89%

Volatility

SDTY vs. QQQY - Volatility Comparison

The current volatility for YieldMax S&P 500 0DTE Covered Call Strategy ETF (SDTY) is 3.00%, while Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY) has a volatility of 7.08%. This indicates that SDTY experiences smaller price fluctuations and is considered to be less risky than QQQY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SDTY	QQQY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.00%	7.08%	-4.08%
Volatility (6M) Calculated over the trailing 6-month period	9.23%	14.66%	-5.43%
Volatility (1Y) Calculated over the trailing 1-year period	11.69%	16.75%	-5.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.51%	15.57%	+0.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.51%	15.57%	+0.94%

SDTY vs. QQQY - Expense Ratio Comparison

SDTY has a 1.01% expense ratio, which is higher than QQQY's 0.99% expense ratio.

Dividends

SDTY vs. QQQY - Dividend Comparison

SDTY's dividend yield for the trailing twelve months is around 26.94%, less than QQQY's 37.35% yield.

Position	TTM	2025	2024	2023
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	37.35%	45.34%	83.34%	20.64%
SDTY YieldMax S&P 500 0DTE Covered Call Strategy ETF	26.94%	22.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SDTY and QQQY in my portfolio?

SDTY and QQQY have a correlation of 0.85, 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 QQQY?

QQQY has higher volatility (7.08%) compared to SDTY (3.00%). In terms of maximum drawdown, SDTY dropped -18.63% vs QQQY's -19.05%.

Which ETF is better, SDTY or QQQY?

On 1-year performance, QQQY leads with 21.87% vs 17.90% for SDTY. On fees, QQQY is cheaper at 0.99% per year. On volatility, SDTY has been the lower-risk option at 3.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SDTY or QQQY?

Over the 1-year period, QQQY has performed better with a 21.87% return vs 17.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SDTY or QQQY?

QQQY is cheaper with a 0.99% expense ratio, compared with 1.01% for SDTY.

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

QQQY has the higher dividend yield at 37.35%, compared with 26.94% for SDTY.

What is the main difference between SDTY and QQQY?

SDTY is categorized as Derivative Income, while QQQY is Nasdaq-100. They also come from different issuers: YieldMax and Defiance. Their fees differ too: 1.01% for SDTY and 0.99% for QQQY.

Which has better risk-adjusted returns?

SDTY currently has the higher Sharpe Ratio (1.54 vs 1.31), 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.