SPXM vs. QDTE

Last updated Jun 4, 2026

SPXM (Azoria 500 Meritocracy ETF) and QDTE (Roundhill Innovation-100 0DTE Covered Call Strategy ETF) are both exchange-traded funds - SPXM is a Large Cap Blend Equities fund actively managed by Azoria, while QDTE is a Derivative Income fund actively managed by Roundhill. Both are actively managed. A 0.50 correlation means they provide meaningful diversification when combined. SPXM charges 0.47%/yr vs 0.97%/yr for QDTE.

Performance

SPXM vs. QDTE - Performance Comparison

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

Returns By Period

SPXM

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: -0.14%
• 1Y: —
• 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)

SPXM vs. QDTE - Yearly Performance Comparison

	2026 (YTD)	2025
SPXM Azoria 500 Meritocracy ETF	0.00%	9.16%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	16.58%	14.23%

Correlation

The correlation between SPXM and QDTE is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 9, 2025	0.50

Return for Risk

SPXM vs. QDTE — Risk / Return Rank

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

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.

SPXM vs. QDTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Azoria 500 Meritocracy ETF (SPXM) 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.

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

Sharpe Ratios by Period

	SPXM	QDTE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.74	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.56	1.30	+0.26

Drawdowns

SPXM vs. QDTE - Drawdown Comparison

The maximum SPXM drawdown since its inception was -5.08%, smaller than the maximum QDTE drawdown of -22.86%. Use the drawdown chart below to compare losses from any high point for SPXM and QDTE.

Drawdown Indicators

	SPXM	QDTE	Difference
Max Drawdown Largest peak-to-trough decline	-5.08%	-22.86%	+17.78%
Max Drawdown (1Y) Largest decline over 1 year	—	-10.20%	—
Current Drawdown Current decline from peak	-0.75%	-0.16%	-0.59%
Average Drawdown Average peak-to-trough decline	-0.79%	-3.14%	+2.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.52%	—

Volatility

Volatility by Period

	SPXM	QDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.75%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.01%	—
Volatility (1Y) Calculated over the trailing 1-year period	8.18%	14.81%	-6.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.18%	18.43%	-10.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.18%	18.43%	-10.25%

SPXM vs. QDTE - Expense Ratio Comparison

SPXM has a 0.47% expense ratio, which is lower than QDTE's 0.97% expense ratio.

Dividends

SPXM vs. QDTE - Dividend Comparison

SPXM's dividend yield for the trailing twelve months is around 0.24%, 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%
SPXM Azoria 500 Meritocracy ETF	0.24%	0.24%	0.00%

Frequently Asked Questions

Can I hold both SPXM and QDTE in my portfolio?

SPXM and QDTE have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPXM or QDTE?

On fees, SPXM is cheaper at 0.47% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPXM or QDTE?

SPXM is cheaper with a 0.47% expense ratio, compared with 0.97% for QDTE.

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

QDTE has the higher dividend yield at 42.16%, compared with 0.24% for SPXM.

What is the main difference between SPXM and QDTE?

SPXM is categorized as Large Cap Blend Equities, while QDTE is Derivative Income. They also come from different issuers: Azoria and Roundhill. Their fees differ too: 0.47% for SPXM and 0.97% for QDTE.