XJAN vs. QDTE

Last updated Jun 5, 2026

XJAN (FT Vest U.S. Equity Enhance & Moderate Buffer ETF - January) and QDTE (Roundhill Innovation-100 0DTE Covered Call Strategy ETF) are both exchange-traded funds - XJAN is a Options Trading fund actively managed by FT Vest, while QDTE is a Derivative Income fund actively managed by Roundhill. Both are actively managed. Over the past year, XJAN returned 12.01% vs 39.17% for QDTE. A 0.78 correlation means they provide meaningful diversification when combined. XJAN charges 0.85%/yr vs 0.97%/yr for QDTE.

Performance

XJAN vs. QDTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest U.S. Equity Enhance & Moderate Buffer ETF - January (XJAN) 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, XJAN achieves a 4.19% return, which is significantly lower than QDTE's 16.06% return.

XJAN

• 1D: 0.16%
• 1M: 1.52%
• YTD: 4.19%
• 6M: 4.91%
• 1Y: 12.01%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QDTE

• 1D: -0.45%
• 1M: 7.12%
• YTD: 16.06%
• 6M: 15.73%
• 1Y: 39.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XJAN vs. QDTE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
XJAN FT Vest U.S. Equity Enhance & Moderate Buffer ETF - January	4.19%	9.14%	7.07%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	16.06%	19.32%	16.07%

Correlation

The correlation between XJAN and QDTE is 0.82, 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	0.82
Correlation (All Time) Calculated using the full available price history since Mar 8, 2024	0.78

The correlation between XJAN and QDTE has been stable across timeframes, ranging from 0.78 to 0.82 - a consistent structural relationship.

Return for Risk

XJAN vs. QDTE — Risk / Return Rank

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

XJAN

XJAN Risk / Return Rank: 81
XJAN Sharpe Ratio Rank: 80
XJAN Sortino Ratio Rank: 86
XJAN Omega Ratio Rank: 91
XJAN Calmar Ratio Rank: 61
XJAN Martin Ratio Rank: 85

QDTE

QDTE Risk / Return Rank: 79
QDTE Sharpe Ratio Rank: 82
QDTE Sortino Ratio Rank: 77
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.

XJAN vs. QDTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Equity Enhance & Moderate Buffer ETF - January (XJAN) 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.

	XJAN	QDTE	Difference
Sharpe ratio: Return per unit of total volatility	2.55	2.66	-0.11
Sortino ratio: Return per unit of downside risk	3.81	3.41	+0.40
Omega ratio: Gain probability vs. loss probability	1.58	1.46	+0.12
Calmar ratio: Return relative to maximum drawdown	2.98	3.86	-0.88
Martin ratio: Return relative to average drawdown	17.08	15.60	+1.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XJAN vs. QDTE - Sharpe Ratio Comparison

The current XJAN Sharpe Ratio is 2.55, which is comparable to the QDTE Sharpe Ratio of 2.66. The chart below compares the historical Sharpe Ratios of XJAN 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

	XJAN	QDTE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.55	2.66	-0.11
Sharpe Ratio (All Time) Calculated using the full available price history	1.33	1.29	+0.04

Drawdowns

XJAN vs. QDTE - Drawdown Comparison

The maximum XJAN drawdown since its inception was -10.04%, smaller than the maximum QDTE drawdown of -22.86%. Use the drawdown chart below to compare losses from any high point for XJAN and QDTE.

Drawdown Indicators

	XJAN	QDTE	Difference
Max Drawdown Largest peak-to-trough decline	-10.04%	-22.86%	+12.82%
Max Drawdown (1Y) Largest decline over 1 year	-4.05%	-10.20%	+6.15%
Current Drawdown Current decline from peak	0.00%	-0.60%	+0.60%
Average Drawdown Average peak-to-trough decline	-0.58%	-3.14%	+2.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.70%	2.52%	-1.82%

Volatility

XJAN vs. QDTE - Volatility Comparison

The current volatility for FT Vest U.S. Equity Enhance & Moderate Buffer ETF - January (XJAN) is 0.62%, while Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE) has a volatility of 3.72%. This indicates that XJAN 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

	XJAN	QDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.62%	3.72%	-3.10%
Volatility (6M) Calculated over the trailing 6-month period	4.08%	11.01%	-6.93%
Volatility (1Y) Calculated over the trailing 1-year period	4.73%	14.81%	-10.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.22%	18.42%	-11.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.22%	18.42%	-11.20%

XJAN vs. QDTE - Expense Ratio Comparison

XJAN has a 0.85% expense ratio, which is lower than QDTE's 0.97% expense ratio.

Dividends

XJAN vs. QDTE - Dividend Comparison

XJAN has not paid dividends to shareholders, while QDTE's dividend yield for the trailing twelve months is around 43.41%.

Position	TTM	2025	2024
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	43.41%	49.49%	32.09%
XJAN FT Vest U.S. Equity Enhance & Moderate Buffer ETF - January	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XJAN and QDTE in my portfolio?

XJAN and QDTE have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XJAN or QDTE?

QDTE has higher volatility (3.72%) compared to XJAN (0.62%). In terms of maximum drawdown, XJAN dropped -10.04% vs QDTE's -22.86%.

Which ETF is better, XJAN or QDTE?

On 1-year performance, QDTE leads with 39.17% vs 12.01% for XJAN. On fees, XJAN is cheaper at 0.85% per year. On volatility, XJAN has been the lower-risk option at 0.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XJAN or QDTE?

Over the 1-year period, QDTE has performed better with a 39.17% return vs 12.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XJAN or QDTE?

XJAN is cheaper with a 0.85% expense ratio, compared with 0.97% for QDTE.

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

QDTE has the higher dividend yield at 43.41%, compared with 0.00% for XJAN.

What is the main difference between XJAN and QDTE?

XJAN is categorized as Options Trading, while QDTE is Derivative Income. They also come from different issuers: FT Vest and Roundhill. Their fees differ too: 0.85% for XJAN and 0.97% for QDTE.

Which has better risk-adjusted returns?

QDTE currently has the higher Sharpe Ratio (2.66 vs 2.55), 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.