YBTC vs. QQQY

Last updated Aug 4, 2026

YBTC (Roundhill Bitcoin Covered Call Strategy ETF) and QQQY (Defiance Nasdaq 100 Enhanced Options Income ETF) are both exchange-traded funds - YBTC is a Cryptocurrency fund actively managed by Roundhill, while QQQY is a Nasdaq-100 fund actively managed by Defiance. Both are actively managed. Over the past year, YBTC returned -39.52% vs 22.96% for QQQY. Their 0.38 correlation means their historical movements had little consistent relationship. YBTC charges 0.95%/yr vs 0.99%/yr for QQQY.

Performance

YBTC vs. QQQY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Bitcoin Covered Call Strategy ETF (YBTC) 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, YBTC achieves a -23.08% return, which is significantly lower than QQQY's 13.77% return.

YBTC

• 1D: 1.15%
• 1M: 4.67%
• 6M: -14.64%
• YTD: -23.08%
• 1Y: -39.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.44%

QQQY

• 1D: 1.48%
• 1M: -1.73%
• 6M: 12.12%
• YTD: 13.77%
• 1Y: 22.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.34%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	$1.87M	$2.12M	$2.91M
YBTC Roundhill Bitcoin Covered Call Strategy ETF	$1.48M	$1.24M	$1.57M

YBTC vs. QQQY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
YBTC Roundhill Bitcoin Covered Call Strategy ETF	-23.08%	-4.23%	55.31%
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	13.77%	14.96%	8.19%

Correlation

The correlation between YBTC and QQQY is 0.45, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.45
Correlation (All Time) Calculated using the full available price history since Jan 18, 2024	0.38

Return for Risk

YBTC vs. QQQY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

YBTC

YBTC Risk / Return Rank: 2
YBTC Sharpe Ratio Rank: 2
YBTC Sortino Ratio Rank: 2
YBTC Omega Ratio Rank: 2
YBTC Calmar Ratio Rank: 3
YBTC Martin Ratio Rank: 3

QQQY

QQQY Risk / Return Rank: 55
QQQY Sharpe Ratio Rank: 54
QQQY Sortino Ratio Rank: 50
QQQY Omega Ratio Rank: 54
QQQY Calmar Ratio Rank: 57
QQQY Martin Ratio Rank: 59

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

YBTC vs. QQQY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Bitcoin Covered Call Strategy ETF (YBTC) 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.

	YBTC	QQQY	Difference
Sharpe ratio: Return per unit of total volatility	-0.99	1.33	-2.32
Sortino ratio: Return per unit of downside risk	-1.38	1.82	-3.19
Omega ratio: Gain probability vs. loss probability	0.83	1.25	-0.42
Calmar ratio: Return relative to maximum drawdown	-0.81	2.07	-2.88
Martin ratio: Return relative to average drawdown	-1.26	7.27	-8.53

YBTC vs. QQQY - Sharpe Ratio Comparison

The current YBTC Sharpe Ratio is -0.99, which is lower than the QQQY Sharpe Ratio of 1.33. The chart below compares the historical Sharpe Ratios of YBTC 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

YBTC vs. QQQY - Drawdown Comparison

The maximum YBTC drawdown since its inception was -48.84%, which is greater than QQQY's maximum drawdown of -19.05%. Use the drawdown chart below to compare losses from any high point for YBTC and QQQY.

Drawdown Indicators

	YBTC	QQQY	Difference
Max Drawdown Largest peak-to-trough decline	-48.84%	-19.05%	-29.79%
Max Drawdown (1Y) Largest decline over 1 year	-48.84%	-11.14%	-37.70%
Current Drawdown Current decline from peak	-43.83%	-4.80%	-39.03%
Average Drawdown Average peak-to-trough decline	-14.95%	-2.97%	-11.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	31.47%	3.16%	+28.31%

Volatility

YBTC vs. QQQY - Volatility Comparison

Roundhill Bitcoin Covered Call Strategy ETF (YBTC) has a higher volatility of 7.36% compared to Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY) at 6.57%. This indicates that YBTC's price experiences larger fluctuations and is considered to be riskier than QQQY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	YBTC	QQQY	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.36%	6.57%	+0.79%
Volatility (6M) Calculated over the trailing 6-month period	31.73%	15.25%	+16.48%
Volatility (1Y) Calculated over the trailing 1-year period	40.20%	17.40%	+22.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.43%	15.76%	+24.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.43%	15.76%	+24.67%

YBTC vs. QQQY - Expense Ratio Comparison

YBTC has a 0.95% expense ratio, which is lower than QQQY's 0.99% expense ratio.

Dividends

YBTC vs. QQQY - Dividend Comparison

YBTC's dividend yield for the trailing twelve months is around 80.06%, more than QQQY's 36.92% yield.

Position	TTM	2025	2024	2023
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	36.92%	45.34%	83.34%	20.64%
YBTC Roundhill Bitcoin Covered Call Strategy ETF	80.06%	76.04%	44.53%	0.00%

Frequently Asked Questions

Can I hold both YBTC and QQQY in my portfolio?

YBTC and QQQY have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, YBTC or QQQY?

YBTC has higher volatility (7.36%) compared to QQQY (6.57%). In terms of maximum drawdown, YBTC dropped -48.84% vs QQQY's -19.05%.

Which ETF is better, YBTC or QQQY?

On 1-year performance, QQQY leads with 22.96% vs -39.52% for YBTC. On fees, YBTC is cheaper at 0.95% per year. On volatility, QQQY has been the lower-risk option at 6.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, YBTC or QQQY?

Over the 1-year period, QQQY has performed better with a 22.96% return vs -39.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, YBTC or QQQY?

YBTC is cheaper with a 0.95% expense ratio, compared with 0.99% for QQQY.

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

YBTC has the higher dividend yield at 80.06%, compared with 36.92% for QQQY.

What is the main difference between YBTC and QQQY?

YBTC is categorized as Cryptocurrency, while QQQY is Nasdaq-100. They also come from different issuers: Roundhill and Defiance. Their fees differ too: 0.95% for YBTC and 0.99% for QQQY.

Which has better risk-adjusted returns?

QQQY currently has the higher Sharpe Ratio (1.33 vs -0.99), 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.