XUSP vs. QDTE

Last updated Jun 4, 2026

XUSP (Innovator Uncapped Accelerated U.S. Equity ETF) and QDTE (Roundhill Innovation-100 0DTE Covered Call Strategy ETF) are both exchange-traded funds - XUSP is a Options Trading fund actively managed by Innovator, while QDTE is a Derivative Income fund actively managed by Roundhill. Both are actively managed. Over the past year, XUSP returned 33.74% vs 40.36% for QDTE. Their correlation of 0.91 suggests significant overlap in exposure. XUSP charges 0.79%/yr vs 0.97%/yr for QDTE.

Performance

XUSP vs. QDTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Uncapped Accelerated U.S. Equity ETF (XUSP) 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, XUSP achieves a 12.67% return, which is significantly lower than QDTE's 16.58% return.

XUSP

• 1D: -0.86%
• 1M: 7.03%
• YTD: 12.67%
• 6M: 12.12%
• 1Y: 33.74%
• 3Y*: 25.24%
• 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)

XUSP vs. QDTE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
XUSP Innovator Uncapped Accelerated U.S. Equity ETF	12.67%	18.27%	17.14%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	16.58%	19.32%	16.07%

Correlation

The correlation between XUSP and QDTE is 0.92, 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	0.92
Correlation (All Time) Calculated using the full available price history since Mar 8, 2024	0.91

The correlation between XUSP and QDTE has been stable across timeframes, ranging from 0.91 to 0.92 - a consistent structural relationship.

XUSP vs. QDTE - Sectors Allocation Comparison

Sectors	XUSP	QDTE
Technology	36.2%	-
Financial Services	11.9%	5.4%
Communication Services	10.9%	-
Consumer Cyclical	10.1%	-
Healthcare	8.4%	-
Industrials	8.1%	-
Consumer Defensive	4.9%	-
Energy	3.5%	-
Utilities	2.3%	-
Real Estate	1.9%	-
Basic Materials	1.8%	-

Return for Risk

XUSP vs. QDTE — Risk / Return Rank

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

XUSP

XUSP Risk / Return Rank: 62
XUSP Sharpe Ratio Rank: 64
XUSP Sortino Ratio Rank: 61
XUSP Omega Ratio Rank: 61
XUSP Calmar Ratio Rank: 57
XUSP Martin Ratio Rank: 65

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.

XUSP vs. QDTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Uncapped Accelerated U.S. Equity ETF (XUSP) 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.

	XUSP	QDTE	Difference
Sharpe ratio: Return per unit of total volatility	2.13	2.74	-0.61
Sortino ratio: Return per unit of downside risk	2.87	3.49	-0.62
Omega ratio: Gain probability vs. loss probability	1.37	1.47	-0.10
Calmar ratio: Return relative to maximum drawdown	2.80	3.98	-1.18
Martin ratio: Return relative to average drawdown	11.82	16.08	-4.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XUSP vs. QDTE - Sharpe Ratio Comparison

The current XUSP Sharpe Ratio is 2.13, which is comparable to the QDTE Sharpe Ratio of 2.74. The chart below compares the historical Sharpe Ratios of XUSP 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

	XUSP	QDTE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.13	2.74	-0.61
Sharpe Ratio (All Time) Calculated using the full available price history	1.04	1.30	-0.26

Drawdowns

XUSP vs. QDTE - Drawdown Comparison

The maximum XUSP drawdown since its inception was -22.59%, roughly equal to the maximum QDTE drawdown of -22.86%. Use the drawdown chart below to compare losses from any high point for XUSP and QDTE.

Drawdown Indicators

	XUSP	QDTE	Difference
Max Drawdown Largest peak-to-trough decline	-22.59%	-22.86%	+0.27%
Max Drawdown (1Y) Largest decline over 1 year	-12.13%	-10.20%	-1.93%
Max Drawdown (3Y) Largest decline over 3 years	-22.59%	—	—
Current Drawdown Current decline from peak	-0.86%	-0.16%	-0.70%
Average Drawdown Average peak-to-trough decline	-4.42%	-3.14%	-1.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.86%	2.52%	+0.34%

Volatility

XUSP vs. QDTE - Volatility Comparison

Innovator Uncapped Accelerated U.S. Equity ETF (XUSP) has a higher volatility of 4.13% compared to Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE) at 3.75%. This indicates that XUSP's price experiences larger fluctuations and is considered to be riskier than QDTE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XUSP	QDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.13%	3.75%	+0.38%
Volatility (6M) Calculated over the trailing 6-month period	11.89%	11.01%	+0.88%
Volatility (1Y) Calculated over the trailing 1-year period	15.90%	14.81%	+1.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.21%	18.43%	+0.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.21%	18.43%	+0.78%

XUSP vs. QDTE - Expense Ratio Comparison

XUSP has a 0.79% expense ratio, which is lower than QDTE's 0.97% expense ratio.

Dividends

XUSP vs. QDTE - Dividend Comparison

XUSP has not paid dividends to shareholders, while QDTE's dividend yield for the trailing twelve months is around 42.16%.

Position	TTM	2025	2024
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	42.16%	49.49%	32.09%
XUSP Innovator Uncapped Accelerated U.S. Equity ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XUSP and QDTE in my portfolio?

With a correlation of 0.92, XUSP and QDTE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, XUSP or QDTE?

XUSP has higher volatility (4.13%) compared to QDTE (3.75%). In terms of maximum drawdown, XUSP dropped -22.59% vs QDTE's -22.86%.

Which ETF is better, XUSP or QDTE?

On 1-year performance, QDTE leads with 40.36% vs 33.74% for XUSP. On fees, XUSP is cheaper at 0.79% per year. On volatility, QDTE has been the lower-risk option at 3.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XUSP or QDTE?

Over the 1-year period, QDTE has performed better with a 40.36% return vs 33.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XUSP or QDTE?

XUSP is cheaper with a 0.79% expense ratio, compared with 0.97% for QDTE.

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

QDTE has the higher dividend yield at 42.16%, compared with 0.00% for XUSP.

What is the main difference between XUSP and QDTE?

XUSP is categorized as Options Trading, while QDTE is Derivative Income. They also come from different issuers: Innovator and Roundhill. Their fees differ too: 0.79% for XUSP and 0.97% for QDTE.

Which has better risk-adjusted returns?

QDTE currently has the higher Sharpe Ratio (2.74 vs 2.13), 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.