YQQQ vs. QQQY

Last updated Aug 2, 2026

YQQQ (YieldMax Short N100 Option Income Strategy ETF) and QQQY (Defiance Nasdaq 100 Enhanced Options Income ETF) are both exchange-traded funds - YQQQ is a Derivative Income fund actively managed by YieldMax, while QQQY is a Nasdaq-100 fund actively managed by Defiance. Both are actively managed. Over the past year, YQQQ returned -5.69% vs 21.17% for QQQY. Their -0.87 correlation means they have often moved in opposite directions in the past. Both charge a 0.99% expense ratio.

Performance

YQQQ vs. QQQY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Short N100 Option Income Strategy ETF (YQQQ) 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, YQQQ achieves a -2.27% return, which is significantly lower than QQQY's 12.11% return.

YQQQ

• 1D: -0.25%
• 1M: 3.85%
• 6M: -3.32%
• YTD: -2.27%
• 1Y: -5.69%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -8.84%

QQQY

• 1D: 0.50%
• 1M: -3.16%
• 6M: 11.25%
• YTD: 12.11%
• 1Y: 21.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.80%

*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	$1.79M	$2.09M	$2.92M
YQQQ YieldMax Short N100 Option Income Strategy ETF	$672.47K	$456.85K	$596.52K

YQQQ vs. QQQY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
YQQQ YieldMax Short N100 Option Income Strategy ETF	-2.27%	-9.97%	-5.17%
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	12.11%	14.96%	1.27%

Correlation

The correlation between YQQQ and QQQY is -0.91, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.91
Correlation (All Time) Calculated using the full available price history since Aug 15, 2024	-0.87

The correlation between YQQQ and QQQY has been stable across timeframes, ranging from -0.91 to -0.87 - a consistent structural relationship.

Return for Risk

YQQQ vs. QQQY — Risk / Return Rank

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

YQQQ

YQQQ Risk / Return Rank: 7
YQQQ Sharpe Ratio Rank: 7
YQQQ Sortino Ratio Rank: 6
YQQQ Omega Ratio Rank: 6
YQQQ Calmar Ratio Rank: 8
YQQQ Martin Ratio Rank: 8

QQQY

QQQY Risk / Return Rank: 46
QQQY Sharpe Ratio Rank: 44
QQQY Sortino Ratio Rank: 41
QQQY Omega Ratio Rank: 45
QQQY Calmar Ratio Rank: 48
QQQY Martin Ratio Rank: 52

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.

YQQQ vs. QQQY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Short N100 Option Income Strategy ETF (YQQQ) 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.

	YQQQ	QQQY	Difference
Sharpe ratio: Return per unit of total volatility	-0.31	1.10	-1.41
Sortino ratio: Return per unit of downside risk	-0.34	1.54	-1.88
Omega ratio: Gain probability vs. loss probability	0.96	1.21	-0.25
Calmar ratio: Return relative to maximum drawdown	-0.20	1.72	-1.92
Martin ratio: Return relative to average drawdown	-0.44	6.07	-6.51

YQQQ vs. QQQY - Sharpe Ratio Comparison

The current YQQQ Sharpe Ratio is -0.31, which is lower than the QQQY Sharpe Ratio of 1.10. The chart below compares the historical Sharpe Ratios of YQQQ 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

YQQQ vs. QQQY - Drawdown Comparison

The maximum YQQQ drawdown since its inception was -29.10%, which is greater than QQQY's maximum drawdown of -19.05%. Use the drawdown chart below to compare losses from any high point for YQQQ and QQQY.

Drawdown Indicators

	YQQQ	QQQY	Difference
Max Drawdown Largest peak-to-trough decline	-29.10%	-19.05%	-10.05%
Max Drawdown (1Y) Largest decline over 1 year	-21.80%	-11.14%	-10.66%
Current Drawdown Current decline from peak	-22.91%	-6.19%	-16.72%
Average Drawdown Average peak-to-trough decline	-15.15%	-2.96%	-12.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.05%	3.15%	+6.90%

Volatility

YQQQ vs. QQQY - Volatility Comparison

The current volatility for YieldMax Short N100 Option Income Strategy ETF (YQQQ) is 4.48%, while Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY) has a volatility of 6.53%. This indicates that YQQQ 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

	YQQQ	QQQY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.48%	6.53%	-2.05%
Volatility (6M) Calculated over the trailing 6-month period	11.99%	15.23%	-3.24%
Volatility (1Y) Calculated over the trailing 1-year period	14.30%	17.41%	-3.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.54%	15.75%	+0.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.54%	15.75%	+0.79%

YQQQ vs. QQQY - Expense Ratio Comparison

Both YQQQ and QQQY have an expense ratio of 0.99%.

Dividends

YQQQ vs. QQQY - Dividend Comparison

YQQQ's dividend yield for the trailing twelve months is around 28.92%, less than QQQY's 37.47% yield.

Position	TTM	2025	2024	2023
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	37.47%	45.34%	83.34%	20.64%
YQQQ YieldMax Short N100 Option Income Strategy ETF	28.92%	31.71%	7.88%	0.00%

Frequently Asked Questions

Can I hold both YQQQ and QQQY in my portfolio?

YQQQ and QQQY have a correlation of -0.91, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, YQQQ or QQQY?

QQQY has higher volatility (6.53%) compared to YQQQ (4.48%). In terms of maximum drawdown, YQQQ dropped -29.10% vs QQQY's -19.05%.

Which ETF is better, YQQQ or QQQY?

On 1-year performance, QQQY leads with 21.17% vs -5.69% for YQQQ. Both ETFs have the same 0.99% expense ratio. On volatility, YQQQ has been the lower-risk option at 4.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, YQQQ or QQQY?

Over the 1-year period, QQQY has performed better with a 21.17% return vs -5.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, YQQQ or QQQY?

YQQQ and QQQY have the same expense ratio: 0.99% per year.

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

QQQY has the higher dividend yield at 37.47%, compared with 28.92% for YQQQ.

What is the main difference between YQQQ and QQQY?

YQQQ is categorized as Derivative Income, while QQQY is Nasdaq-100. They also come from different issuers: YieldMax and Defiance.

Which has better risk-adjusted returns?

QQQY currently has the higher Sharpe Ratio (1.10 vs -0.31), 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.