WEEL vs. QDTE

Last updated Jun 3, 2026

WEEL (Peerless Option Income Wheel ETF) and QDTE (Roundhill ETF Trust - Roundhill N-100 0DTE Covered Call Strategy ETF) are both exchange-traded funds - WEEL is a Derivative Income fund actively managed by Peerless ETFs, while QDTE is a Large Cap Blend Equities fund actively managed by Roundhill. Both are actively managed. Over the past year, WEEL returned 21.64% vs 40.36% for QDTE. A 0.64 correlation means they provide meaningful diversification when combined. WEEL charges 0.99%/yr vs 0.95%/yr for QDTE.

Performance

WEEL vs. QDTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Peerless Option Income Wheel ETF (WEEL) and Roundhill ETF Trust - Roundhill N-100 0DTE Covered Call Strategy ETF (QDTE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WEEL achieves a 5.64% return, which is significantly lower than QDTE's 16.58% return.

WEEL

• 1D: 0.13%
• 1M: 1.28%
• YTD: 5.64%
• 6M: 6.64%
• 1Y: 21.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QDTE

• 1D: -0.16%
• 1M: 8.99%
• YTD: 16.58%
• 6M: 16.20%
• 1Y: 40.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

WEEL vs. QDTE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
WEEL Peerless Option Income Wheel ETF	5.64%	17.73%	3.33%
QDTE Roundhill ETF Trust - Roundhill N-100 0DTE Covered Call Strategy ETF	16.58%	19.32%	15.18%

Correlation

The correlation between WEEL and QDTE is 0.62, 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	0.62
Correlation (All Time) Calculated using the full available price history since May 17, 2024	0.64

The correlation between WEEL and QDTE has been stable across timeframes, ranging from 0.62 to 0.64 - a consistent structural relationship.

WEEL vs. QDTE - Sectors Allocation Comparison

Sectors	WEEL	QDTE
Consumer Cyclical	20.3%	-
Healthcare	16.8%	-
Basic Materials	16.7%	-
Technology	15.5%	-
Communication Services	13.8%	-
Energy	5.6%	-
Financial Services	4.0%	5.4%
Industrials	3.7%	-
Consumer Defensive	2.2%	-
Real Estate	1.1%	-
Utilities	0.2%	-

Return for Risk

WEEL vs. QDTE — Risk / Return Rank

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

WEEL

WEEL Risk / Return Rank: 87
WEEL Sharpe Ratio Rank: 82
WEEL Sortino Ratio Rank: 89
WEEL Omega Ratio Rank: 88
WEEL Calmar Ratio Rank: 85
WEEL Martin Ratio Rank: 92

QDTE

QDTE Risk / Return Rank: 78
QDTE Sharpe Ratio Rank: 82
QDTE Sortino Ratio Rank: 76
QDTE Omega Ratio Rank: 78
QDTE Calmar Ratio Rank: 77
QDTE Martin Ratio Rank: 80

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.

WEEL vs. QDTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Peerless Option Income Wheel ETF (WEEL) and Roundhill ETF Trust - Roundhill N-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.

	WEEL	QDTE	Difference
Sharpe ratio Return per unit of total volatility	2.72	2.74	-0.02
Sortino ratio Return per unit of downside risk	4.20	3.49	+0.71
Omega ratio Gain probability vs. loss probability	1.56	1.47	+0.08
Calmar ratio Return relative to maximum drawdown	4.72	3.98	+0.74
Martin ratio Return relative to average drawdown	22.99	16.08	+6.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WEEL vs. QDTE - Sharpe Ratio Comparison

The current WEEL Sharpe Ratio is 2.72, which is comparable to the QDTE Sharpe Ratio of 2.74. The chart below compares the historical Sharpe Ratios of WEEL and QDTE, 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

	WEEL	QDTE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.72	2.74	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	1.03	1.30	-0.28

Drawdowns

WEEL vs. QDTE - Drawdown Comparison

The maximum WEEL drawdown since its inception was -17.45%, smaller than the maximum QDTE drawdown of -22.86%. Use the drawdown chart below to compare losses from any high point for WEEL and QDTE.

Drawdown Indicators

	WEEL	QDTE	Difference
Max Drawdown Largest peak-to-trough decline	-17.45%	-22.86%	+5.41%
Max Drawdown (1Y) Largest decline over 1 year	-4.60%	-10.20%	+5.60%
Current Drawdown Current decline from peak	0.00%	-0.16%	+0.16%
Average Drawdown Average peak-to-trough decline	-1.45%	-3.14%	+1.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.95%	2.52%	-1.57%

Volatility

WEEL vs. QDTE - Volatility Comparison

The current volatility for Peerless Option Income Wheel ETF (WEEL) is 1.80%, while Roundhill ETF Trust - Roundhill N-100 0DTE Covered Call Strategy ETF (QDTE) has a volatility of 3.75%. This indicates that WEEL experiences smaller price fluctuations and is considered to be less risky than QDTE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WEEL	QDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.80%	3.75%	-1.95%
Volatility (6M) Calculated over the trailing 6-month period	5.82%	11.01%	-5.19%
Volatility (1Y) Calculated over the trailing 1-year period	8.00%	14.81%	-6.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.84%	18.43%	-5.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.84%	18.43%	-5.59%

WEEL vs. QDTE - Expense Ratio Comparison

WEEL has a 0.99% expense ratio, which is higher than QDTE's 0.95% expense ratio.

Dividends

WEEL vs. QDTE - Dividend Comparison

WEEL's dividend yield for the trailing twelve months is around 12.41%, less than QDTE's 42.16% yield.

Position	TTM	2025	2024
QDTE Roundhill ETF Trust - Roundhill N-100 0DTE Covered Call Strategy ETF	42.16%	49.49%	32.09%
WEEL Peerless Option Income Wheel ETF	12.41%	12.72%	6.88%

Frequently Asked Questions

Can I hold both WEEL and QDTE in my portfolio?

WEEL and QDTE have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WEEL or QDTE?

QDTE has higher volatility (3.75%) compared to WEEL (1.80%). In terms of maximum drawdown, WEEL dropped -17.45% vs QDTE's -22.86%.

Which ETF is better, WEEL or QDTE?

On 1-year performance, QDTE leads with 40.36% vs 21.64% for WEEL. On fees, QDTE is cheaper at 0.95% per year. On volatility, WEEL has been the lower-risk option at 1.80%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WEEL or QDTE?

Over the 1-year period, QDTE has performed better with a 40.36% return vs 21.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WEEL or QDTE?

QDTE is cheaper with a 0.95% expense ratio, compared with 0.99% for WEEL.

Which ETF pays a higher dividend yield, WEEL or QDTE?

QDTE has the higher dividend yield at 42.16%, compared with 12.41% for WEEL.

What is the main difference between WEEL and QDTE?

WEEL is categorized as Derivative Income, while QDTE is Large Cap Blend Equities. They also come from different issuers: Peerless ETFs and Roundhill. Their fees differ too: 0.99% for WEEL and 0.95% for QDTE.

Which has better risk-adjusted returns?

QDTE currently has the higher Sharpe Ratio (2.74 vs 2.72), 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.