XOCT vs. QQQY

Last updated Jun 24, 2026

XOCT (FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - October) and QQQY (Defiance Nasdaq 100 Enhanced Options Income ETF) are both exchange-traded funds - XOCT is a Options Trading fund actively managed by FT Vest, while QQQY is a Nasdaq-100 fund actively managed by Defiance. Both are actively managed. Over the past year, XOCT returned 11.32% vs 29.04% for QQQY. A 0.78 correlation means they provide meaningful diversification when combined. XOCT charges 0.85%/yr vs 0.99%/yr for QQQY.

Performance

XOCT vs. QQQY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - October (XOCT) 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, XOCT achieves a 4.16% return, which is significantly lower than QQQY's 14.69% return.

XOCT

• 1D: -0.28%
• 1M: 0.27%
• YTD: 4.16%
• 6M: 3.99%
• 1Y: 11.32%
• 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)

XOCT vs. QQQY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
XOCT FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - October	4.16%	10.30%	7.00%	0.21%
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	14.69%	14.96%	7.70%	10.76%

Correlation

The correlation between XOCT and QQQY is 0.83, 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	0.83
Correlation (All Time) Calculated using the full available price history since Oct 23, 2023	0.78

The correlation between XOCT and QQQY has been stable across timeframes, ranging from 0.78 to 0.83 - a consistent structural relationship.

Return for Risk

XOCT vs. QQQY — Risk / Return Rank

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

XOCT

XOCT Risk / Return Rank: 84
XOCT Sharpe Ratio Rank: 84
XOCT Sortino Ratio Rank: 89
XOCT Omega Ratio Rank: 91
XOCT Calmar Ratio Rank: 69
XOCT Martin Ratio Rank: 87

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.

XOCT vs. QQQY - Risk-Adjusted Trends Comparison

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

	XOCT	QQQY	Difference
Sharpe ratio: Return per unit of total volatility	2.42	1.85	+0.57
Sortino ratio: Return per unit of downside risk	3.61	2.37	+1.25
Omega ratio: Gain probability vs. loss probability	1.54	1.35	+0.19
Calmar ratio: Return relative to maximum drawdown	3.13	2.62	+0.51
Martin ratio: Return relative to average drawdown	16.83	10.63	+6.20

XOCT vs. QQQY - Sharpe Ratio Comparison

The current XOCT Sharpe Ratio is 2.42, which is higher than the QQQY Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of XOCT 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

XOCT vs. QQQY - Drawdown Comparison

The maximum XOCT drawdown since its inception was -10.00%, smaller than the maximum QQQY drawdown of -19.05%. Use the drawdown chart below to compare losses from any high point for XOCT and QQQY.

Drawdown Indicators

	XOCT	QQQY	Difference
Max Drawdown Largest peak-to-trough decline	-10.00%	-19.05%	+9.05%
Max Drawdown (1Y) Largest decline over 1 year	-3.63%	-11.14%	+7.51%
Current Drawdown Current decline from peak	-0.39%	-4.03%	+3.64%
Average Drawdown Average peak-to-trough decline	-0.64%	-2.91%	+2.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.67%	2.74%	-2.07%

Volatility

XOCT vs. QQQY - Volatility Comparison

The current volatility for FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - October (XOCT) is 1.06%, while Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY) has a volatility of 8.51%. This indicates that XOCT 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

	XOCT	QQQY	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.06%	8.51%	-7.45%
Volatility (6M) Calculated over the trailing 6-month period	3.94%	13.62%	-9.68%
Volatility (1Y) Calculated over the trailing 1-year period	4.71%	15.78%	-11.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.61%	15.39%	-7.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.61%	15.39%	-7.78%

XOCT vs. QQQY - Expense Ratio Comparison

XOCT has a 0.85% expense ratio, which is lower than QQQY's 0.99% expense ratio.

Dividends

XOCT vs. QQQY - Dividend Comparison

XOCT has not paid dividends to shareholders, while QQQY's dividend yield for the trailing twelve months is around 35.60%.

Position	TTM	2025	2024	2023
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	35.60%	45.34%	83.34%	20.64%
XOCT FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - October	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XOCT and QQQY in my portfolio?

XOCT and QQQY have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XOCT or QQQY?

QQQY has higher volatility (8.51%) compared to XOCT (1.06%). In terms of maximum drawdown, XOCT dropped -10.00% vs QQQY's -19.05%.

Which ETF is better, XOCT or QQQY?

On 1-year performance, QQQY leads with 29.04% vs 11.32% for XOCT. On fees, XOCT is cheaper at 0.85% per year. On volatility, XOCT has been the lower-risk option at 1.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XOCT or QQQY?

Over the 1-year period, QQQY has performed better with a 29.04% return vs 11.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XOCT or QQQY?

XOCT is cheaper with a 0.85% expense ratio, compared with 0.99% for QQQY.

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

QQQY has the higher dividend yield at 35.60%, compared with 0.00% for XOCT.

What is the main difference between XOCT and QQQY?

XOCT is categorized as Options Trading, while QQQY is Nasdaq-100. They also come from different issuers: FT Vest and Defiance. Their fees differ too: 0.85% for XOCT and 0.99% for QQQY.

Which has better risk-adjusted returns?

XOCT currently has the higher Sharpe Ratio (2.42 vs 1.85), 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.