SPYQ vs. QBTX

Last updated Aug 1, 2026

SPYQ (Tradr 2X Long SPY Quarterly ETF) and QBTX (Tradr 2X Long QBTS Daily ETF) are both Leveraged Equities funds from AXS. Both are actively managed. Over the past year, SPYQ returned 34.82% vs -67.82% for QBTX. Their 0.43 correlation means their historical movements had little consistent relationship. Both charge a 1.30% expense ratio.

Performance

SPYQ vs. QBTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 2X Long SPY Quarterly ETF (SPYQ) and Tradr 2X Long QBTS Daily ETF (QBTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPYQ achieves a 14.83% return, which is significantly higher than QBTX's -76.90% return.

SPYQ

• 1D: 1.63%
• 1M: 0.16%
• 6M: 12.24%
• YTD: 14.83%
• 1Y: 34.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 25.63%

QBTX

• 1D: 1.33%
• 1M: -42.34%
• 6M: -62.38%
• YTD: -76.90%
• 1Y: -67.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 1.15%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
QBTX Tradr 2X Long QBTS Daily ETF	$17.57M	$16.05M	$40.46M
SPYQ Tradr 2X Long SPY Quarterly ETF	$405.12K	$285.27K	$2.57M

SPYQ vs. QBTX - Yearly Performance Comparison

	2026 (YTD)	2025
SPYQ Tradr 2X Long SPY Quarterly ETF	14.83%	48.26%
QBTX Tradr 2X Long QBTS Daily ETF	-76.90%	339.28%

Correlation

The correlation between SPYQ and QBTX is 0.47, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.47
Correlation (All Time) Calculated using the full available price history since Apr 25, 2025	0.43

Return for Risk

SPYQ vs. QBTX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SPYQ

SPYQ Risk / Return Rank: 49
SPYQ Sharpe Ratio Rank: 49
SPYQ Sortino Ratio Rank: 47
SPYQ Omega Ratio Rank: 47
SPYQ Calmar Ratio Rank: 46
SPYQ Martin Ratio Rank: 57

QBTX

QBTX Risk / Return Rank: 11
QBTX Sharpe Ratio Rank: 7
QBTX Sortino Ratio Rank: 22
QBTX Omega Ratio Rank: 19
QBTX Calmar Ratio Rank: 3
QBTX Martin Ratio Rank: 5

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SPYQ vs. QBTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Long SPY Quarterly ETF (SPYQ) and Tradr 2X Long QBTS Daily ETF (QBTX). 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.

	SPYQ	QBTX	Difference
Sharpe ratio: Return per unit of total volatility	1.21	-0.32	+1.54
Sortino ratio: Return per unit of downside risk	1.72	0.77	+0.94
Omega ratio: Gain probability vs. loss probability	1.22	1.08	+0.14
Calmar ratio: Return relative to maximum drawdown	1.65	-0.74	+2.39
Martin ratio: Return relative to average drawdown	6.86	-0.95	+7.81

SPYQ vs. QBTX - Sharpe Ratio Comparison

The current SPYQ Sharpe Ratio is 1.21, which is higher than the QBTX Sharpe Ratio of -0.32. The chart below compares the historical Sharpe Ratios of SPYQ and QBTX, 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

SPYQ vs. QBTX - Drawdown Comparison

The maximum SPYQ drawdown since its inception was -35.88%, smaller than the maximum QBTX drawdown of -95.48%. Use the drawdown chart below to compare losses from any high point for SPYQ and QBTX.

Drawdown Indicators

	SPYQ	QBTX	Difference
Max Drawdown Largest peak-to-trough decline	-35.88%	-95.48%	+59.60%
Max Drawdown (1Y) Largest decline over 1 year	-18.70%	-95.48%	+76.78%
Current Drawdown Current decline from peak	-3.36%	-94.67%	+91.31%
Average Drawdown Average peak-to-trough decline	-4.80%	-60.34%	+55.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.48%	74.79%	-70.31%

Volatility

SPYQ vs. QBTX - Volatility Comparison

The current volatility for Tradr 2X Long SPY Quarterly ETF (SPYQ) is 7.20%, while Tradr 2X Long QBTS Daily ETF (QBTX) has a volatility of 57.40%. This indicates that SPYQ experiences smaller price fluctuations and is considered to be less risky than QBTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPYQ	QBTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.20%	57.40%	-50.20%
Volatility (6M) Calculated over the trailing 6-month period	19.79%	149.53%	-129.74%
Volatility (1Y) Calculated over the trailing 1-year period	25.36%	219.66%	-194.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.02%	237.92%	-203.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.02%	237.92%	-203.90%

SPYQ vs. QBTX - Expense Ratio Comparison

Both SPYQ and QBTX have an expense ratio of 1.30%.

Dividends

SPYQ vs. QBTX - Dividend Comparison

SPYQ's dividend yield for the trailing twelve months is around 0.15%, less than QBTX's 57.13% yield.

Position	TTM	2025
QBTX Tradr 2X Long QBTS Daily ETF	57.13%	13.20%
SPYQ Tradr 2X Long SPY Quarterly ETF	0.15%	0.17%

Frequently Asked Questions

Can I hold both SPYQ and QBTX in my portfolio?

SPYQ and QBTX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPYQ or QBTX?

QBTX has higher volatility (57.40%) compared to SPYQ (7.20%). In terms of maximum drawdown, SPYQ dropped -35.88% vs QBTX's -95.48%.

Which ETF is better, SPYQ or QBTX?

On 1-year performance, SPYQ leads with 34.82% vs -67.82% for QBTX. Both ETFs have the same 1.30% expense ratio. On volatility, SPYQ has been the lower-risk option at 7.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPYQ or QBTX?

Over the 1-year period, SPYQ has performed better with a 34.82% return vs -67.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPYQ or QBTX?

SPYQ and QBTX have the same expense ratio: 1.30% per year.

Which ETF pays a higher dividend yield, SPYQ or QBTX?

QBTX has the higher dividend yield at 57.13%, compared with 0.15% for SPYQ.

Which has better risk-adjusted returns?

SPYQ currently has the higher Sharpe Ratio (1.21 vs -0.32), 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.