VOE vs. QQQY

Last updated Jun 13, 2026

VOE (Vanguard Mid-Cap Value ETF) and QQQY (Defiance Nasdaq 100 Enhanced Options Income ETF) are both exchange-traded funds - VOE is a Mid Cap Value Equities fund tracking the CRSP US Mid Cap Value Index, while QQQY is a Nasdaq-100 fund actively managed by Defiance. VOE is passively managed, while QQQY is actively managed. Over the past year, VOE returned 24.24% vs 29.70% for QQQY. At a 0.46 correlation, their price movements are largely independent. VOE charges 0.05%/yr vs 0.99%/yr for QQQY.

Performance

VOE vs. QQQY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Mid-Cap Value ETF (VOE) 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, VOE achieves a 12.81% return, which is significantly lower than QQQY's 15.43% return.

VOE

• 1D: 1.10%
• 1M: 3.67%
• YTD: 12.81%
• 6M: 11.83%
• 1Y: 24.24%
• 3Y*: 16.04%
• 5Y*: 8.93%
• 10Y*: 10.92%

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)

VOE vs. QQQY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
VOE Vanguard Mid-Cap Value ETF	12.81%	12.08%	14.00%	8.34%
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	15.43%	14.96%	7.70%	7.19%

Correlation

The correlation between VOE and QQQY is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (All Time) Calculated using the full available price history since Sep 14, 2023	0.46

Return for Risk

VOE vs. QQQY — Risk / Return Rank

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

VOE

VOE Risk / Return Rank: 77
VOE Sharpe Ratio Rank: 76
VOE Sortino Ratio Rank: 78
VOE Omega Ratio Rank: 72
VOE Calmar Ratio Rank: 78
VOE Martin Ratio Rank: 79

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.

VOE vs. QQQY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Mid-Cap Value ETF (VOE) 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.

	VOE	QQQY	Difference
Sharpe ratio: Return per unit of total volatility	2.10	2.00	+0.10
Sortino ratio: Return per unit of downside risk	3.01	2.52	+0.49
Omega ratio: Gain probability vs. loss probability	1.36	1.38	-0.01
Calmar ratio: Return relative to maximum drawdown	3.52	2.68	+0.84
Martin ratio: Return relative to average drawdown	13.34	10.96	+2.38

VOE vs. QQQY - Sharpe Ratio Comparison

The current VOE Sharpe Ratio is 2.10, which is comparable to the QQQY Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of VOE 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

VOE vs. QQQY - Drawdown Comparison

The maximum VOE drawdown since its inception was -61.50%, which is greater than QQQY's maximum drawdown of -19.05%. Use the drawdown chart below to compare losses from any high point for VOE and QQQY.

Drawdown Indicators

	VOE	QQQY	Difference
Max Drawdown Largest peak-to-trough decline	-61.50%	-19.05%	-42.45%
Max Drawdown (1Y) Largest decline over 1 year	-6.93%	-11.14%	+4.21%
Max Drawdown (3Y) Largest decline over 3 years	-18.45%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-19.70%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-43.18%	—	—
Current Drawdown Current decline from peak	0.00%	-3.41%	+3.41%
Average Drawdown Average peak-to-trough decline	-8.34%	-2.92%	-5.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.83%	2.72%	-0.89%

Volatility

VOE vs. QQQY - Volatility Comparison

The current volatility for Vanguard Mid-Cap Value ETF (VOE) is 3.19%, while Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY) has a volatility of 7.00%. This indicates that VOE 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

	VOE	QQQY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.19%	7.00%	-3.81%
Volatility (6M) Calculated over the trailing 6-month period	8.30%	12.87%	-4.57%
Volatility (1Y) Calculated over the trailing 1-year period	11.63%	14.92%	-3.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.06%	15.12%	+0.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.83%	15.12%	+3.71%

VOE vs. QQQY - Expense Ratio Comparison

VOE has a 0.05% expense ratio, which is lower than QQQY's 0.99% expense ratio.

Dividends

VOE vs. QQQY - Dividend Comparison

VOE's dividend yield for the trailing twelve months is around 1.84%, less than QQQY's 35.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%	0.00%
VOE Vanguard Mid-Cap Value ETF	1.84%	2.10%	2.11%	2.27%	2.27%	1.78%	2.36%	2.05%	2.75%	1.86%	1.92%	2.05%

Frequently Asked Questions

Can I hold both VOE and QQQY in my portfolio?

VOE and QQQY have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VOE or QQQY?

QQQY has higher volatility (7.00%) compared to VOE (3.19%). In terms of maximum drawdown, VOE dropped -61.50% vs QQQY's -19.05%.

Which ETF is better, VOE or QQQY?

On 1-year performance, QQQY leads with 29.70% vs 24.24% for VOE. On fees, VOE is cheaper at 0.05% per year. On volatility, VOE has been the lower-risk option at 3.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VOE or QQQY?

Over the 1-year period, QQQY has performed better with a 29.70% return vs 24.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VOE or QQQY?

VOE is cheaper with a 0.05% expense ratio, compared with 0.99% for QQQY.

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

QQQY has the higher dividend yield at 35.39%, compared with 1.84% for VOE.

What is the main difference between VOE and QQQY?

VOE is categorized as Mid Cap Value Equities, while QQQY is Nasdaq-100. They also come from different issuers: Vanguard and Defiance. Their fees differ too: 0.05% for VOE and 0.99% for QQQY.

Which has better risk-adjusted returns?

VOE currently has the higher Sharpe Ratio (2.10 vs 2.00), 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.