SEPZ vs. QQQY
SEPZ (TrueShares Structured Outcome (September) ETF) and QQQY (Defiance Nasdaq 100 Enhanced Options Income ETF) are both exchange-traded funds - SEPZ is a Options Trading fund tracking the Cboe S&P 500 Buffer Protect Index September, while QQQY is a Nasdaq-100 fund actively managed by Defiance. SEPZ is passively managed, while QQQY is actively managed. Over the past year, SEPZ returned 20.60% vs 36.38% for QQQY. Their correlation of 0.85 suggests significant overlap in exposure. SEPZ charges 0.80%/yr vs 0.99%/yr for QQQY.
Performance
SEPZ vs. QQQY - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SEPZ achieves a 8.19% return, which is significantly lower than QQQY's 19.07% return.
SEPZ
- 1D
- -0.70%
- 1M
- 4.17%
- YTD
- 8.19%
- 6M
- 8.10%
- 1Y
- 20.60%
- 3Y*
- 16.43%
- 5Y*
- 11.53%
- 10Y*
- —
QQQY
- 1D
- -0.36%
- 1M
- 9.64%
- YTD
- 19.07%
- 6M
- 19.11%
- 1Y
- 36.38%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SEPZ vs. QQQY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SEPZ TrueShares Structured Outcome (September) ETF | 8.19% | 13.18% | 18.23% | 4.85% |
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF | 19.07% | 14.96% | 7.70% | 7.22% |
Correlation
The correlation between SEPZ 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 Sep 15, 2023 | 0.85 |
The correlation between SEPZ and QQQY has been stable across timeframes, ranging from 0.85 to 0.85 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SEPZ vs. QQQY — Risk / Return Rank
SEPZ
QQQY
SEPZ vs. QQQY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TrueShares Structured Outcome (September) ETF (SEPZ) 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.
| SEPZ | QQQY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.60 | ||
| Sortino ratioReturn per unit of downside risk | -0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.49 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.83 | 3.28 | -0.45 |
| Martin ratioReturn relative to average drawdown | 12.83 | 13.95 | -1.12 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| SEPZ | QQQY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.08 | 2.68 | -0.60 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.94 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.05 | 1.25 | -0.21 |
Drawdowns
SEPZ vs. QQQY - Drawdown Comparison
The maximum SEPZ drawdown since its inception was -15.22%, smaller than the maximum QQQY drawdown of -19.05%. Use the drawdown chart below to compare losses from any high point for SEPZ and QQQY.
Loading charts...
Drawdown Indicators
| SEPZ | QQQY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.22% | -19.05% | +3.83% |
Max Drawdown (1Y)Largest decline over 1 year | -7.30% | -11.14% | +3.84% |
Max Drawdown (3Y)Largest decline over 3 years | -14.57% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -15.22% | — | — |
Current DrawdownCurrent decline from peak | -0.87% | -0.36% | -0.51% |
Average DrawdownAverage peak-to-trough decline | -2.84% | -2.91% | +0.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.61% | 2.61% | -1.00% |
Volatility
SEPZ vs. QQQY - Volatility Comparison
The current volatility for TrueShares Structured Outcome (September) ETF (SEPZ) is 2.68%, while Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY) has a volatility of 4.21%. This indicates that SEPZ 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.
Loading charts...
Volatility by Period
| SEPZ | QQQY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.68% | 4.21% | -1.53% |
Volatility (6M)Calculated over the trailing 6-month period | 7.28% | 11.30% | -4.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.97% | 13.67% | -3.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.29% | 14.75% | -2.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.46% | 14.75% | -2.29% |
SEPZ vs. QQQY - Expense Ratio Comparison
SEPZ has a 0.80% expense ratio, which is lower than QQQY's 0.99% expense ratio.
Dividends
SEPZ vs. QQQY - Dividend Comparison
SEPZ's dividend yield for the trailing twelve months is around 2.03%, less than QQQY's 34.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF | 34.34% | 45.34% | 83.34% | 20.64% | 0.00% | 0.00% |
SEPZ TrueShares Structured Outcome (September) ETF | 2.03% | 2.20% | 3.62% | 3.55% | 0.69% | 0.05% |
Frequently Asked Questions
SEPZ 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.
QQQY has higher volatility (4.21%) compared to SEPZ (2.68%). In terms of maximum drawdown, SEPZ dropped -15.22% vs QQQY's -19.05%.
On 1-year performance, QQQY leads with 36.38% vs 20.60% for SEPZ. On fees, SEPZ is cheaper at 0.80% per year. On volatility, SEPZ has been the lower-risk option at 2.68%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, QQQY has performed better with a 36.38% return vs 20.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SEPZ is cheaper with a 0.80% expense ratio, compared with 0.99% for QQQY.
QQQY has the higher dividend yield at 34.34%, compared with 2.03% for SEPZ.
SEPZ is categorized as Options Trading, while QQQY is Nasdaq-100. They also come from different issuers: TrueShares and Defiance. Their fees differ too: 0.80% for SEPZ and 0.99% for QQQY.
QQQY currently has the higher Sharpe Ratio (2.68 vs 2.08), 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.
Find the right allocation for SEPZ and QQQY
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer