USHY vs. QQQY

Last updated Jun 13, 2026

USHY (iShares Broad USD High Yield Corporate Bond ETF) and QQQY (Defiance Nasdaq 100 Enhanced Options Income ETF) are both exchange-traded funds - USHY is a High Yield Bonds fund tracking the ICE BofA US High Yield Constrained Index, while QQQY is a Nasdaq-100 fund actively managed by Defiance. USHY is passively managed, while QQQY is actively managed. Over the past year, USHY returned 6.90% vs 29.70% for QQQY. A 0.57 correlation means they provide meaningful diversification when combined. USHY charges 0.15%/yr vs 0.99%/yr for QQQY.

Performance

USHY vs. QQQY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Broad USD High Yield Corporate Bond ETF (USHY) 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, USHY achieves a 1.75% return, which is significantly lower than QQQY's 15.43% return.

USHY

• 1D: 0.03%
• 1M: 0.59%
• YTD: 1.75%
• 6M: 2.37%
• 1Y: 6.90%
• 3Y*: 8.94%
• 5Y*: 4.21%
• 10Y*: —

QQQY

• 1D: 0.55%
• 1M: 0.32%
• YTD: 15.43%
• 6M: 15.99%
• 1Y: 29.70%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

USHY vs. QQQY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
USHY iShares Broad USD High Yield Corporate Bond ETF	1.75%	8.81%	8.45%	5.63%
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	15.43%	14.96%	7.70%	7.19%

Correlation

The correlation between USHY 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 Sep 14, 2023	0.57

The correlation between USHY and QQQY has been stable across timeframes, ranging from 0.57 to 0.64 - a consistent structural relationship.

Return for Risk

USHY vs. QQQY — Risk / Return Rank

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

USHY

USHY Risk / Return Rank: 71
USHY Sharpe Ratio Rank: 66
USHY Sortino Ratio Rank: 73
USHY Omega Ratio Rank: 71
USHY Calmar Ratio Rank: 65
USHY Martin Ratio Rank: 77

QQQY

QQQY Risk / Return Rank: 68
QQQY Sharpe Ratio Rank: 71
QQQY Sortino Ratio Rank: 63
QQQY Omega Ratio Rank: 74
QQQY Calmar Ratio Rank: 61
QQQY Martin Ratio Rank: 69

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.

USHY vs. QQQY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Broad USD High Yield Corporate Bond ETF (USHY) 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.

	USHY	QQQY	Difference
Sharpe ratio: Return per unit of total volatility	1.88	2.00	-0.12
Sortino ratio: Return per unit of downside risk	2.83	2.52	+0.30
Omega ratio: Gain probability vs. loss probability	1.36	1.38	-0.01
Calmar ratio: Return relative to maximum drawdown	2.85	2.68	+0.18
Martin ratio: Return relative to average drawdown	12.77	10.96	+1.81

USHY vs. QQQY - Sharpe Ratio Comparison

The current USHY Sharpe Ratio is 1.88, which is comparable to the QQQY Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of USHY 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

USHY vs. QQQY - Drawdown Comparison

The maximum USHY drawdown since its inception was -22.44%, which is greater than QQQY's maximum drawdown of -19.05%. Use the drawdown chart below to compare losses from any high point for USHY and QQQY.

Drawdown Indicators

	USHY	QQQY	Difference
Max Drawdown Largest peak-to-trough decline	-22.44%	-19.05%	-3.39%
Max Drawdown (1Y) Largest decline over 1 year	-2.43%	-11.14%	+8.71%
Max Drawdown (3Y) Largest decline over 3 years	-4.66%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-15.56%	—	—
Current Drawdown Current decline from peak	0.00%	-3.41%	+3.41%
Average Drawdown Average peak-to-trough decline	-2.66%	-2.92%	+0.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.54%	2.72%	-2.18%

Volatility

USHY vs. QQQY - Volatility Comparison

The current volatility for iShares Broad USD High Yield Corporate Bond ETF (USHY) is 1.20%, while Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY) has a volatility of 7.00%. This indicates that USHY experiences smaller price fluctuations and is considered to be less risky than QQQY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USHY	QQQY	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.20%	7.00%	-5.80%
Volatility (6M) Calculated over the trailing 6-month period	2.96%	12.87%	-9.91%
Volatility (1Y) Calculated over the trailing 1-year period	3.69%	14.92%	-11.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.35%	15.12%	-7.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.24%	15.12%	-6.88%

USHY vs. QQQY - Expense Ratio Comparison

USHY has a 0.15% expense ratio, which is lower than QQQY's 0.99% expense ratio.

Dividends

USHY vs. QQQY - Dividend Comparison

USHY's dividend yield for the trailing twelve months is around 6.90%, less than QQQY's 35.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	35.39%	45.34%	83.34%	20.64%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
USHY iShares Broad USD High Yield Corporate Bond ETF	6.90%	6.79%	6.89%	6.63%	6.08%	5.07%	5.30%	5.92%	6.30%	0.73%

Frequently Asked Questions

Can I hold both USHY and QQQY in my portfolio?

USHY 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, USHY or QQQY?

QQQY has higher volatility (7.00%) compared to USHY (1.20%). In terms of maximum drawdown, USHY dropped -22.44% vs QQQY's -19.05%.

Which ETF is better, USHY or QQQY?

On 1-year performance, QQQY leads with 29.70% vs 6.90% for USHY. On fees, USHY is cheaper at 0.15% per year. On volatility, USHY has been the lower-risk option at 1.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, USHY or QQQY?

Over the 1-year period, QQQY has performed better with a 29.70% return vs 6.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, USHY or QQQY?

USHY is cheaper with a 0.15% expense ratio, compared with 0.99% for QQQY.

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

QQQY has the higher dividend yield at 35.39%, compared with 6.90% for USHY.

What is the main difference between USHY and QQQY?

USHY is categorized as High Yield Bonds, while QQQY is Nasdaq-100. They also come from different issuers: iShares and Defiance. Their fees differ too: 0.15% for USHY and 0.99% for QQQY.

Which has better risk-adjusted returns?

QQQY currently has the higher Sharpe Ratio (2.00 vs 1.88), 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.