TSLW vs. QQQY

Last updated Jul 21, 2026

TSLW (Roundhill TSLA WeeklyPay™ ETF) and QQQY (Defiance Nasdaq 100 Enhanced Options Income ETF) are both exchange-traded funds - TSLW is a Derivative Income fund actively managed by Roundhill, while QQQY is a Nasdaq-100 fund actively managed by Defiance. Both are actively managed. Over the past year, TSLW returned 7.72% vs 21.87% for QQQY. A 0.60 correlation means they provide meaningful diversification when combined. Both charge a 0.99% expense ratio.

Performance

TSLW vs. QQQY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill TSLA WeeklyPay™ ETF (TSLW) 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, TSLW achieves a -23.54% return, which is significantly lower than QQQY's 12.87% return.

TSLW

• 1D: -3.56%
• 1M: -9.65%
• 6M: -20.90%
• YTD: -23.54%
• 1Y: 7.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.04%

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)

TSLW vs. QQQY - Yearly Performance Comparison

	2026 (YTD)	2025
TSLW Roundhill TSLA WeeklyPay™ ETF	-23.54%	35.28%
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	12.87%	16.19%

Correlation

The correlation between TSLW and QQQY is 0.64, 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	0.64
Correlation (All Time) Calculated using the full available price history since Jun 2, 2025	0.60

The correlation between TSLW and QQQY has been stable across timeframes, ranging from 0.60 to 0.64 - a consistent structural relationship.

Return for Risk

TSLW vs. QQQY — Risk / Return Rank

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

TSLW

TSLW Risk / Return Rank: 14
TSLW Sharpe Ratio Rank: 13
TSLW Sortino Ratio Rank: 16
TSLW Omega Ratio Rank: 15
TSLW Calmar Ratio Rank: 13
TSLW Martin Ratio Rank: 13

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.

TSLW vs. QQQY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill TSLA WeeklyPay™ ETF (TSLW) 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.

	TSLW	QQQY	Difference
Sharpe ratio: Return per unit of total volatility	0.15	1.31	-1.17
Sortino ratio: Return per unit of downside risk	0.59	1.77	-1.18
Omega ratio: Gain probability vs. loss probability	1.07	1.25	-0.18
Calmar ratio: Return relative to maximum drawdown	0.22	1.97	-1.75
Martin ratio: Return relative to average drawdown	0.45	7.58	-7.14

TSLW vs. QQQY - Sharpe Ratio Comparison

The current TSLW Sharpe Ratio is 0.15, which is lower than the QQQY Sharpe Ratio of 1.31. The chart below compares the historical Sharpe Ratios of TSLW 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

TSLW vs. QQQY - Drawdown Comparison

The maximum TSLW drawdown since its inception was -35.80%, which is greater than QQQY's maximum drawdown of -19.05%. Use the drawdown chart below to compare losses from any high point for TSLW and QQQY.

Drawdown Indicators

	TSLW	QQQY	Difference
Max Drawdown Largest peak-to-trough decline	-35.80%	-19.05%	-16.75%
Max Drawdown (1Y) Largest decline over 1 year	-35.80%	-11.14%	-24.66%
Current Drawdown Current decline from peak	-31.09%	-5.55%	-25.54%
Average Drawdown Average peak-to-trough decline	-14.09%	-2.92%	-11.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.35%	2.89%	+14.46%

Volatility

TSLW vs. QQQY - Volatility Comparison

Roundhill TSLA WeeklyPay™ ETF (TSLW) has a higher volatility of 20.20% compared to Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY) at 7.08%. This indicates that TSLW's price experiences larger fluctuations and is considered to be riskier than QQQY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSLW	QQQY	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.20%	7.08%	+13.12%
Volatility (6M) Calculated over the trailing 6-month period	37.55%	14.66%	+22.89%
Volatility (1Y) Calculated over the trailing 1-year period	53.50%	16.75%	+36.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	56.94%	15.57%	+41.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	56.94%	15.57%	+41.37%

TSLW vs. QQQY - Expense Ratio Comparison

Both TSLW and QQQY have an expense ratio of 0.99%.

Dividends

TSLW vs. QQQY - Dividend Comparison

TSLW's dividend yield for the trailing twelve months is around 101.07%, more 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%
TSLW Roundhill TSLA WeeklyPay™ ETF	101.07%	49.31%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TSLW and QQQY in my portfolio?

TSLW and QQQY have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSLW or QQQY?

TSLW has higher volatility (20.20%) compared to QQQY (7.08%). In terms of maximum drawdown, TSLW dropped -35.80% vs QQQY's -19.05%.

Which ETF is better, TSLW or QQQY?

On 1-year performance, QQQY leads with 21.87% vs 7.72% for TSLW. Both ETFs have the same 0.99% expense ratio. On volatility, QQQY has been the lower-risk option at 7.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSLW or QQQY?

Over the 1-year period, QQQY has performed better with a 21.87% return vs 7.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSLW or QQQY?

TSLW and QQQY have the same expense ratio: 0.99% per year.

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

TSLW has the higher dividend yield at 101.07%, compared with 37.35% for QQQY.

What is the main difference between TSLW and QQQY?

TSLW is categorized as Derivative Income, while QQQY is Nasdaq-100. They also come from different issuers: Roundhill and Defiance.

Which has better risk-adjusted returns?

QQQY currently has the higher Sharpe Ratio (1.31 vs 0.15), 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.