TJUL vs. QDTE

Last updated Jun 5, 2026

TJUL (Innovator Equity Defined Protection ETF – 2 Yr to July 2025) and QDTE (Roundhill Innovation-100 0DTE Covered Call Strategy ETF) are both exchange-traded funds - TJUL is a Options Trading fund actively managed by Innovator, while QDTE is a Derivative Income fund actively managed by Roundhill. Both are actively managed. Over the past year, TJUL returned 5.97% vs 39.17% for QDTE. A 0.67 correlation means they provide meaningful diversification when combined. TJUL charges 0.79%/yr vs 0.97%/yr for QDTE.

Performance

TJUL vs. QDTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Equity Defined Protection ETF – 2 Yr to July 2025 (TJUL) 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, TJUL achieves a 2.20% return, which is significantly lower than QDTE's 16.06% return.

TJUL

• 1D: 0.12%
• 1M: 0.61%
• YTD: 2.20%
• 6M: 2.51%
• 1Y: 5.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QDTE

• 1D: -0.45%
• 1M: 7.12%
• YTD: 16.06%
• 6M: 15.73%
• 1Y: 39.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TJUL vs. QDTE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TJUL Innovator Equity Defined Protection ETF – 2 Yr to July 2025	2.20%	6.55%	5.98%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	16.06%	19.32%	16.07%

Correlation

The correlation between TJUL and QDTE is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.58
Correlation (All Time) Calculated using the full available price history since Mar 8, 2024	0.67

The correlation between TJUL and QDTE has been stable across timeframes, ranging from 0.58 to 0.67 - a consistent structural relationship.

TJUL vs. QDTE - Sectors Allocation Comparison

Sectors	TJUL	QDTE
Technology	33.6%	-
Financial Services	12.4%	5.4%
Communication Services	10.5%	-
Consumer Cyclical	10.0%	-
Healthcare	9.5%	-
Industrials	8.5%	-
Consumer Defensive	5.3%	-
Energy	4.0%	-
Utilities	2.5%	-
Real Estate	2.0%	-
Basic Materials	1.9%	-

Return for Risk

TJUL vs. QDTE — Risk / Return Rank

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

TJUL

TJUL Risk / Return Rank: 68
TJUL Sharpe Ratio Rank: 67
TJUL Sortino Ratio Rank: 71
TJUL Omega Ratio Rank: 71
TJUL Calmar Ratio Rank: 59
TJUL Martin Ratio Rank: 72

QDTE

QDTE Risk / Return Rank: 79
QDTE Sharpe Ratio Rank: 82
QDTE Sortino Ratio Rank: 77
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.

TJUL vs. QDTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Defined Protection ETF – 2 Yr to July 2025 (TJUL) 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.

	TJUL	QDTE	Difference
Sharpe ratio: Return per unit of total volatility	2.16	2.66	-0.50
Sortino ratio: Return per unit of downside risk	3.18	3.41	-0.23
Omega ratio: Gain probability vs. loss probability	1.41	1.46	-0.05
Calmar ratio: Return relative to maximum drawdown	2.88	3.86	-0.98
Martin ratio: Return relative to average drawdown	13.37	15.60	-2.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TJUL vs. QDTE - Sharpe Ratio Comparison

The current TJUL Sharpe Ratio is 2.16, which is comparable to the QDTE Sharpe Ratio of 2.66. The chart below compares the historical Sharpe Ratios of TJUL 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

	TJUL	QDTE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.16	2.66	-0.50
Sharpe Ratio (All Time) Calculated using the full available price history	1.64	1.29	+0.36

Drawdowns

TJUL vs. QDTE - Drawdown Comparison

The maximum TJUL drawdown since its inception was -4.61%, smaller than the maximum QDTE drawdown of -22.86%. Use the drawdown chart below to compare losses from any high point for TJUL and QDTE.

Drawdown Indicators

	TJUL	QDTE	Difference
Max Drawdown Largest peak-to-trough decline	-4.61%	-22.86%	+18.25%
Max Drawdown (1Y) Largest decline over 1 year	-2.08%	-10.20%	+8.12%
Current Drawdown Current decline from peak	-0.00%	-0.60%	+0.60%
Average Drawdown Average peak-to-trough decline	-0.39%	-3.14%	+2.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.45%	2.52%	-2.07%

Volatility

TJUL vs. QDTE - Volatility Comparison

The current volatility for Innovator Equity Defined Protection ETF – 2 Yr to July 2025 (TJUL) is 0.51%, while Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE) has a volatility of 3.72%. This indicates that TJUL 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

	TJUL	QDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.51%	3.72%	-3.21%
Volatility (6M) Calculated over the trailing 6-month period	2.15%	11.01%	-8.86%
Volatility (1Y) Calculated over the trailing 1-year period	2.77%	14.81%	-12.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.26%	18.42%	-14.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.26%	18.42%	-14.16%

TJUL vs. QDTE - Expense Ratio Comparison

TJUL has a 0.79% expense ratio, which is lower than QDTE's 0.97% expense ratio.

Dividends

TJUL vs. QDTE - Dividend Comparison

TJUL has not paid dividends to shareholders, while QDTE's dividend yield for the trailing twelve months is around 43.41%.

Position	TTM	2025	2024
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	43.41%	49.49%	32.09%
TJUL Innovator Equity Defined Protection ETF – 2 Yr to July 2025	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TJUL and QDTE in my portfolio?

TJUL and QDTE have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TJUL or QDTE?

QDTE has higher volatility (3.72%) compared to TJUL (0.51%). In terms of maximum drawdown, TJUL dropped -4.61% vs QDTE's -22.86%.

Which ETF is better, TJUL or QDTE?

On 1-year performance, QDTE leads with 39.17% vs 5.97% for TJUL. On fees, TJUL is cheaper at 0.79% per year. On volatility, TJUL has been the lower-risk option at 0.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TJUL or QDTE?

Over the 1-year period, QDTE has performed better with a 39.17% return vs 5.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TJUL or QDTE?

TJUL is cheaper with a 0.79% expense ratio, compared with 0.97% for QDTE.

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

QDTE has the higher dividend yield at 43.41%, compared with 0.00% for TJUL.

What is the main difference between TJUL and QDTE?

TJUL is categorized as Options Trading, while QDTE is Derivative Income. They also come from different issuers: Innovator and Roundhill. Their fees differ too: 0.79% for TJUL and 0.97% for QDTE.

Which has better risk-adjusted returns?

QDTE currently has the higher Sharpe Ratio (2.66 vs 2.16), 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.