WDTE vs. QDTY

Last updated Jun 9, 2026

WDTE (Defiance S&P 500 Enhanced Options & 0DTE Income ETF) and QDTY (YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF) are both exchange-traded funds - WDTE is a Derivative Income fund actively managed by Defiance, while QDTY is a Nasdaq-100 fund actively managed by YieldMax. Both are actively managed. Over the past year, WDTE returned 20.90% vs 33.68% for QDTY. A 0.79 correlation means they provide meaningful diversification when combined. Both charge a 1.01% expense ratio.

Performance

WDTE vs. QDTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance S&P 500 Enhanced Options & 0DTE Income ETF (WDTE) and YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF (QDTY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WDTE achieves a 8.25% return, which is significantly lower than QDTY's 12.10% return.

WDTE

• 1D: 0.17%
• 1M: -0.23%
• YTD: 8.25%
• 6M: 8.53%
• 1Y: 20.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QDTY

• 1D: 1.83%
• 1M: 1.96%
• YTD: 12.10%
• 6M: 11.87%
• 1Y: 33.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

WDTE vs. QDTY - Yearly Performance Comparison

	2026 (YTD)	2025
WDTE Defiance S&P 500 Enhanced Options & 0DTE Income ETF	8.25%	9.15%
QDTY YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF	12.10%	11.37%

Correlation

The correlation between WDTE and QDTY is 0.79, 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	0.79
Correlation (All Time) Calculated using the full available price history since Feb 14, 2025	0.79

The correlation between WDTE and QDTY has been stable across timeframes, ranging from 0.79 to 0.79 - a consistent structural relationship.

WDTE vs. QDTY - Sectors Allocation Comparison

Sectors	WDTE	QDTY
Technology	35.6%	53.7%
Financial Services	11.8%	0.2%
Communication Services	11.2%	15.8%
Consumer Cyclical	10.1%	12.2%
Healthcare	8.5%	4.2%
Industrials	8.3%	3.1%
Consumer Defensive	4.9%	7.7%
Energy	3.5%	0.6%
Utilities	2.4%	1.4%
Real Estate	1.9%	0.1%
Basic Materials	1.8%	1.1%

Return for Risk

WDTE vs. QDTY — Risk / Return Rank

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

WDTE

WDTE Risk / Return Rank: 68
WDTE Sharpe Ratio Rank: 68
WDTE Sortino Ratio Rank: 62
WDTE Omega Ratio Rank: 74
WDTE Calmar Ratio Rank: 61
WDTE Martin Ratio Rank: 77

QDTY

QDTY Risk / Return Rank: 68
QDTY Sharpe Ratio Rank: 73
QDTY Sortino Ratio Rank: 65
QDTY Omega Ratio Rank: 70
QDTY Calmar Ratio Rank: 67
QDTY Martin Ratio Rank: 66

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.

WDTE vs. QDTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance S&P 500 Enhanced Options & 0DTE Income ETF (WDTE) and YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF (QDTY). 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.

	WDTE	QDTY	Difference
Sharpe ratio: Return per unit of total volatility	2.00	2.12	-0.12
Sortino ratio: Return per unit of downside risk	2.59	2.71	-0.11
Omega ratio: Gain probability vs. loss probability	1.39	1.38	+0.02
Calmar ratio: Return relative to maximum drawdown	2.74	3.05	-0.30
Martin ratio: Return relative to average drawdown	13.32	11.07	+2.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WDTE vs. QDTY - Sharpe Ratio Comparison

The current WDTE Sharpe Ratio is 2.00, which is comparable to the QDTY Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of WDTE and QDTY, 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

	WDTE	QDTY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.00	2.12	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	1.24	0.71	+0.53

Drawdowns

WDTE vs. QDTY - Drawdown Comparison

The maximum WDTE drawdown since its inception was -15.85%, smaller than the maximum QDTY drawdown of -23.45%. Use the drawdown chart below to compare losses from any high point for WDTE and QDTY.

Drawdown Indicators

	WDTE	QDTY	Difference
Max Drawdown Largest peak-to-trough decline	-15.85%	-23.45%	+7.60%
Max Drawdown (1Y) Largest decline over 1 year	-7.65%	-11.10%	+3.45%
Current Drawdown Current decline from peak	-2.63%	-3.67%	+1.04%
Average Drawdown Average peak-to-trough decline	-1.82%	-4.47%	+2.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.57%	3.05%	-1.48%

Volatility

WDTE vs. QDTY - Volatility Comparison

The current volatility for Defiance S&P 500 Enhanced Options & 0DTE Income ETF (WDTE) is 3.15%, while YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF (QDTY) has a volatility of 6.26%. This indicates that WDTE experiences smaller price fluctuations and is considered to be less risky than QDTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WDTE	QDTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.15%	6.26%	-3.11%
Volatility (6M) Calculated over the trailing 6-month period	8.80%	12.86%	-4.06%
Volatility (1Y) Calculated over the trailing 1-year period	10.51%	16.00%	-5.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.40%	26.13%	-14.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.40%	26.13%	-14.73%

WDTE vs. QDTY - Expense Ratio Comparison

Both WDTE and QDTY have an expense ratio of 1.01%.

Dividends

WDTE vs. QDTY - Dividend Comparison

WDTE's dividend yield for the trailing twelve months is around 32.66%, more than QDTY's 31.52% yield.

Position	TTM	2025	2024	2023
QDTY YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF	31.52%	26.82%	0.00%	0.00%
WDTE Defiance S&P 500 Enhanced Options & 0DTE Income ETF	32.66%	35.78%	51.80%	16.41%

Frequently Asked Questions

Can I hold both WDTE and QDTY in my portfolio?

WDTE and QDTY have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WDTE or QDTY?

QDTY has higher volatility (6.26%) compared to WDTE (3.15%). In terms of maximum drawdown, WDTE dropped -15.85% vs QDTY's -23.45%.

Which ETF is better, WDTE or QDTY?

On 1-year performance, QDTY leads with 33.68% vs 20.90% for WDTE. Both ETFs have the same 1.01% expense ratio. On volatility, WDTE has been the lower-risk option at 3.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WDTE or QDTY?

Over the 1-year period, QDTY has performed better with a 33.68% return vs 20.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WDTE or QDTY?

WDTE and QDTY have the same expense ratio: 1.01% per year.

Which ETF pays a higher dividend yield, WDTE or QDTY?

WDTE has the higher dividend yield at 32.66%, compared with 31.52% for QDTY.

What is the main difference between WDTE and QDTY?

WDTE is categorized as Derivative Income, while QDTY is Nasdaq-100. They also come from different issuers: Defiance and YieldMax.

Which has better risk-adjusted returns?

QDTY currently has the higher Sharpe Ratio (2.12 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.