WDTE vs. QQQY

Last updated Jun 24, 2026

WDTE (Defiance S&P 500 Enhanced Options & 0DTE Income ETF) and QQQY (Defiance Nasdaq 100 Enhanced Options Income ETF) are both exchange-traded funds - WDTE is a Derivative Income fund actively managed by Defiance, while QQQY is a Nasdaq-100 fund actively managed by Defiance. Both are actively managed. Over the past year, WDTE returned 19.25% vs 29.04% for QQQY. Their correlation of 0.86 suggests significant overlap in exposure. WDTE charges 1.01%/yr vs 0.99%/yr for QQQY.

Performance

WDTE vs. QQQY - 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 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, WDTE achieves a 7.90% return, which is significantly lower than QQQY's 14.69% return.

WDTE

• 1D: -1.29%
• 1M: -1.54%
• YTD: 7.90%
• 6M: 7.06%
• 1Y: 19.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QQQY

• 1D: -3.21%
• 1M: -0.60%
• YTD: 14.69%
• 6M: 13.76%
• 1Y: 29.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

WDTE vs. QQQY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
WDTE Defiance S&P 500 Enhanced Options & 0DTE Income ETF	7.90%	13.60%	9.85%	5.71%
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	14.69%	14.96%	7.70%	8.37%

Correlation

The correlation between WDTE and QQQY is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.85
Correlation (All Time) Calculated using the full available price history since Sep 19, 2023	0.86

The correlation between WDTE and QQQY has been stable across timeframes, ranging from 0.85 to 0.86 - a consistent structural relationship.

Return for Risk

WDTE vs. QQQY — Risk / Return Rank

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

WDTE

WDTE Risk / Return Rank: 57
WDTE Sharpe Ratio Rank: 55
WDTE Sortino Ratio Rank: 50
WDTE Omega Ratio Rank: 59
WDTE Calmar Ratio Rank: 54
WDTE Martin Ratio Rank: 67

QQQY

QQQY Risk / Return Rank: 57
QQQY Sharpe Ratio Rank: 57
QQQY Sortino Ratio Rank: 50
QQQY Omega Ratio Rank: 59
QQQY Calmar Ratio Rank: 55
QQQY Martin Ratio Rank: 62

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. QQQY - 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 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.

	WDTE	QQQY	Difference
Sharpe ratio: Return per unit of total volatility	1.76	1.85	-0.09
Sortino ratio: Return per unit of downside risk	2.32	2.37	-0.04
Omega ratio: Gain probability vs. loss probability	1.34	1.35	-0.01
Calmar ratio: Return relative to maximum drawdown	2.53	2.62	-0.09
Martin ratio: Return relative to average drawdown	11.66	10.63	+1.03

WDTE vs. QQQY - Sharpe Ratio Comparison

The current WDTE Sharpe Ratio is 1.76, which is comparable to the QQQY Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of WDTE 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

WDTE vs. QQQY - Drawdown Comparison

The maximum WDTE drawdown since its inception was -15.85%, smaller than the maximum QQQY drawdown of -19.05%. Use the drawdown chart below to compare losses from any high point for WDTE and QQQY.

Drawdown Indicators

	WDTE	QQQY	Difference
Max Drawdown Largest peak-to-trough decline	-15.85%	-19.05%	+3.20%
Max Drawdown (1Y) Largest decline over 1 year	-7.65%	-11.14%	+3.49%
Current Drawdown Current decline from peak	-2.94%	-4.03%	+1.09%
Average Drawdown Average peak-to-trough decline	-1.83%	-2.91%	+1.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.65%	2.74%	-1.09%

Volatility

WDTE vs. QQQY - Volatility Comparison

The current volatility for Defiance S&P 500 Enhanced Options & 0DTE Income ETF (WDTE) is 4.44%, while Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY) has a volatility of 8.51%. This indicates that WDTE 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

	WDTE	QQQY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.44%	8.51%	-4.07%
Volatility (6M) Calculated over the trailing 6-month period	9.31%	13.62%	-4.31%
Volatility (1Y) Calculated over the trailing 1-year period	10.97%	15.78%	-4.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.51%	15.39%	-3.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.51%	15.39%	-3.88%

WDTE vs. QQQY - Expense Ratio Comparison

WDTE has a 1.01% expense ratio, which is higher than QQQY's 0.99% expense ratio.

Dividends

WDTE vs. QQQY - Dividend Comparison

WDTE's dividend yield for the trailing twelve months is around 32.96%, less than QQQY's 35.60% yield.

Position	TTM	2025	2024	2023
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	35.60%	45.34%	83.34%	20.64%
WDTE Defiance S&P 500 Enhanced Options & 0DTE Income ETF	32.96%	35.78%	51.80%	16.41%

Frequently Asked Questions

Can I hold both WDTE and QQQY in my portfolio?

WDTE and QQQY have a correlation of 0.85, 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 QQQY?

QQQY has higher volatility (8.51%) compared to WDTE (4.44%). In terms of maximum drawdown, WDTE dropped -15.85% vs QQQY's -19.05%.

Which ETF is better, WDTE or QQQY?

On 1-year performance, QQQY leads with 29.04% vs 19.25% for WDTE. On fees, QQQY is cheaper at 0.99% per year. On volatility, WDTE has been the lower-risk option at 4.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WDTE or QQQY?

Over the 1-year period, QQQY has performed better with a 29.04% return vs 19.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WDTE or QQQY?

QQQY is cheaper with a 0.99% expense ratio, compared with 1.01% for WDTE.

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

QQQY has the higher dividend yield at 35.60%, compared with 32.96% for WDTE.

What is the main difference between WDTE and QQQY?

WDTE is categorized as Derivative Income, while QQQY is Nasdaq-100. Their fees differ too: 1.01% for WDTE and 0.99% for QQQY.

Which has better risk-adjusted returns?

QQQY currently has the higher Sharpe Ratio (1.85 vs 1.76), 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.