ULTI vs. QDTE
ULTI (REX IncomeMax Option Strategy ETF) and QDTE (Roundhill Innovation-100 0DTE Covered Call Strategy ETF) are both Derivative Income funds. Both are actively managed. Their 0.60 correlation means they have sometimes moved together and sometimes differently. ULTI charges 1.25%/yr vs 0.95%/yr for QDTE.
Performance
ULTI vs. QDTE - Performance Comparison
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Returns By Period
In the year-to-date period, ULTI achieves a -12.35% return, which is significantly lower than QDTE's 14.34% return.
ULTI
- 1D
- 3.80%
- 1M
- -18.69%
- 6M
- -23.16%
- YTD
- -12.35%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
QDTE
- 1D
- 2.48%
- 1M
- 1.86%
- 6M
- 13.49%
- YTD
- 14.34%
- 1Y
- 27.12%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 21.48%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $17.82M | $18.23M | $19.82M | |
| $651.44K | $766.06K | $1.11M |
ULTI vs. QDTE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ULTI REX IncomeMax Option Strategy ETF | -12.35% | -38.67% |
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF | 14.34% | 0.86% |
Correlation
The correlation between ULTI and QDTE is 0.60, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 31, 2025 | 0.60 |
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Return for Risk
ULTI vs. QDTE — Risk / Return Rank
ULTI
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
QDTE
ULTI vs. QDTE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for REX IncomeMax Option Strategy ETF (ULTI) 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.
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.
| ULTI | QDTE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.27 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.67 | — |
| Martin ratioReturn relative to average drawdown | — | 9.04 | — |
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Drawdowns
ULTI vs. QDTE - Drawdown Comparison
The maximum ULTI drawdown since its inception was -54.23%, which is greater than QDTE's maximum drawdown of -22.86%. Use the drawdown chart below to compare losses from any high point for ULTI and QDTE.
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Drawdown Indicators
| ULTI | QDTE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.23% | -22.86% | -31.37% |
Max Drawdown (1Y)Largest decline over 1 year | — | -10.20% | — |
Current DrawdownCurrent decline from peak | -46.25% | -2.08% | -44.17% |
Average DrawdownAverage peak-to-trough decline | -29.84% | -3.17% | -26.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 3.01% | — |
Volatility
ULTI vs. QDTE - Volatility Comparison
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Volatility by Period
| ULTI | QDTE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 6.97% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 14.94% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 61.64% | 18.11% | +43.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 61.64% | 19.21% | +42.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 61.64% | 19.21% | +42.43% |
ULTI vs. QDTE - Expense Ratio Comparison
ULTI has a 1.25% expense ratio, which is higher than QDTE's 0.95% expense ratio.
Dividends
ULTI vs. QDTE - Dividend Comparison
ULTI's dividend yield for the trailing twelve months is around 94.80%, more than QDTE's 44.87% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF | 44.87% | 49.49% | 32.09% |
ULTI REX IncomeMax Option Strategy ETF | 94.80% | 14.96% | 0.00% |
Frequently Asked Questions
ULTI and QDTE have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, QDTE is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.
QDTE is cheaper with a 0.95% expense ratio, compared with 1.25% for ULTI.
ULTI has the higher dividend yield at 94.80%, compared with 44.87% for QDTE.
They also come from different issuers: REX Shares and Roundhill. Their fees differ too: 1.25% for ULTI and 0.95% for QDTE.
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