XDIV vs. QDTE

Last updated Jul 18, 2026

XDIV (Roundhill S&P 500 No Dividend Target ETF) and QDTE (Roundhill Innovation-100 0DTE Covered Call Strategy ETF) are both exchange-traded funds - XDIV is a S&P 500 fund actively managed by Roundhill, while QDTE is a Derivative Income fund actively managed by Roundhill. Both are actively managed. Over the past year, XDIV returned 19.58% vs 24.27% for QDTE. Their correlation of 0.88 suggests significant overlap in exposure. XDIV charges 0.08%/yr vs 0.97%/yr for QDTE.

Performance

XDIV vs. QDTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill S&P 500 No Dividend Target ETF (XDIV) and Roundhill Innovation-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, XDIV achieves a 9.11% return, which is significantly lower than QDTE's 10.69% return.

XDIV

• 1D: -1.01%
• 1M: 0.46%
• 6M: 7.68%
• YTD: 9.11%
• 1Y: 19.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QDTE

• 1D: -1.52%
• 1M: -2.76%
• 6M: 9.42%
• YTD: 10.69%
• 1Y: 24.27%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XDIV vs. QDTE - Yearly Performance Comparison

	2026 (YTD)	2025
XDIV Roundhill S&P 500 No Dividend Target ETF	9.11%	10.07%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	10.69%	13.32%

Correlation

The correlation between XDIV and QDTE is 0.88, 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	0.88
Correlation (All Time) Calculated using the full available price history since Jul 10, 2025	0.88

The correlation between XDIV and QDTE has been stable across timeframes, ranging from 0.88 to 0.88 - a consistent structural relationship.

XDIV vs. QDTE - Sectors Allocation Comparison

Sectors	XDIV	QDTE
Technology	39.0%	-
Financial Services	11.1%	5.3%
Communication Services	10.6%	-
Consumer Cyclical	9.9%	-
Healthcare	8.3%	-
Industrials	7.8%	-
Consumer Defensive	4.5%	-
Energy	3.1%	-
Utilities	2.1%	-
Real Estate	1.8%	-
Basic Materials	1.7%	-

Return for Risk

XDIV vs. QDTE — Risk / Return Rank

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

XDIV

XDIV Risk / Return Rank: 58
XDIV Sharpe Ratio Rank: 57
XDIV Sortino Ratio Rank: 56
XDIV Omega Ratio Rank: 56
XDIV Calmar Ratio Rank: 53
XDIV Martin Ratio Rank: 67

QDTE

QDTE Risk / Return Rank: 53
QDTE Sharpe Ratio Rank: 50
QDTE Sortino Ratio Rank: 44
QDTE Omega Ratio Rank: 48
QDTE Calmar Ratio Rank: 60
QDTE Martin Ratio Rank: 63

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.

XDIV vs. QDTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill S&P 500 No Dividend Target ETF (XDIV) and Roundhill Innovation-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.

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.

	XDIV	QDTE	Difference
Sharpe ratio: Return per unit of total volatility	1.54	1.40	+0.14
Sortino ratio: Return per unit of downside risk	2.17	1.87	+0.30
Omega ratio: Gain probability vs. loss probability	1.28	1.25	+0.03
Calmar ratio: Return relative to maximum drawdown	2.15	2.39	-0.24
Martin ratio: Return relative to average drawdown	9.42	8.85	+0.58

XDIV vs. QDTE - Sharpe Ratio Comparison

The current XDIV Sharpe Ratio is 1.54, which is comparable to the QDTE Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of XDIV 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.

Drawdowns

XDIV vs. QDTE - Drawdown Comparison

The maximum XDIV drawdown since its inception was -9.16%, smaller than the maximum QDTE drawdown of -22.86%. Use the drawdown chart below to compare losses from any high point for XDIV and QDTE.

Drawdown Indicators

	XDIV	QDTE	Difference
Max Drawdown Largest peak-to-trough decline	-9.16%	-22.86%	+13.70%
Max Drawdown (1Y) Largest decline over 1 year	-9.16%	-10.20%	+1.04%
Current Drawdown Current decline from peak	-2.03%	-5.20%	+3.17%
Average Drawdown Average peak-to-trough decline	-1.27%	-3.12%	+1.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.08%	2.75%	-0.67%

Volatility

XDIV vs. QDTE - Volatility Comparison

The current volatility for Roundhill S&P 500 No Dividend Target ETF (XDIV) is 3.34%, while Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE) has a volatility of 7.01%. This indicates that XDIV 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

	XDIV	QDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.34%	7.01%	-3.67%
Volatility (6M) Calculated over the trailing 6-month period	10.24%	14.25%	-4.01%
Volatility (1Y) Calculated over the trailing 1-year period	12.75%	17.42%	-4.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.63%	19.07%	-6.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.63%	19.07%	-6.44%

XDIV vs. QDTE - Expense Ratio Comparison

XDIV has a 0.08% expense ratio, which is lower than QDTE's 0.97% expense ratio.

Dividends

XDIV vs. QDTE - Dividend Comparison

XDIV has not paid dividends to shareholders, while QDTE's dividend yield for the trailing twelve months is around 46.13%.

Position	TTM	2025	2024
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	46.13%	49.49%	32.09%
XDIV Roundhill S&P 500 No Dividend Target ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XDIV and QDTE in my portfolio?

XDIV and QDTE have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XDIV or QDTE?

QDTE has higher volatility (7.01%) compared to XDIV (3.34%). In terms of maximum drawdown, XDIV dropped -9.16% vs QDTE's -22.86%.

Which ETF is better, XDIV or QDTE?

On 1-year performance, QDTE leads with 24.27% vs 19.58% for XDIV. On fees, XDIV is cheaper at 0.08% per year. On volatility, XDIV has been the lower-risk option at 3.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XDIV or QDTE?

Over the 1-year period, QDTE has performed better with a 24.27% return vs 19.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XDIV or QDTE?

XDIV is cheaper with a 0.08% expense ratio, compared with 0.97% for QDTE.

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

QDTE has the higher dividend yield at 46.13%, compared with 0.00% for XDIV.

What is the main difference between XDIV and QDTE?

XDIV is categorized as S&P 500, while QDTE is Derivative Income. Their fees differ too: 0.08% for XDIV and 0.97% for QDTE.

Which has better risk-adjusted returns?

XDIV currently has the higher Sharpe Ratio (1.54 vs 1.40), 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.