YSEP vs. QDTE

Last updated Jun 5, 2026

YSEP (FT Cboe Vest International Equity Buffer ETF - September) and QDTE (Roundhill Innovation-100 0DTE Covered Call Strategy ETF) are both exchange-traded funds - YSEP 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, YSEP returned 13.73% vs 39.17% for QDTE. A 0.57 correlation means they provide meaningful diversification when combined. YSEP charges 0.90%/yr vs 0.97%/yr for QDTE.

Performance

YSEP vs. QDTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Cboe Vest International Equity Buffer ETF - September (YSEP) 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, YSEP achieves a 5.17% return, which is significantly lower than QDTE's 16.06% return.

YSEP

• 1D: 0.44%
• 1M: 1.53%
• YTD: 5.17%
• 6M: 6.25%
• 1Y: 13.73%
• 3Y*: 11.77%
• 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)

YSEP vs. QDTE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
YSEP FT Cboe Vest International Equity Buffer ETF - September	5.17%	19.88%	0.99%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	16.06%	19.32%	16.07%

Correlation

The correlation between YSEP and QDTE is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.63
Correlation (All Time) Calculated using the full available price history since Mar 8, 2024	0.57

The correlation between YSEP and QDTE has been stable across timeframes, ranging from 0.57 to 0.63 - a consistent structural relationship.

YSEP vs. QDTE - Sectors Allocation Comparison

Sectors	YSEP	QDTE
Financial Services	24.2%	5.4%
Industrials	18.9%	-
Healthcare	11.2%	-
Technology	9.0%	-
Consumer Cyclical	8.9%	-
Consumer Defensive	7.8%	-
Communication Services	5.8%	-
Basic Materials	5.6%	-
Energy	3.3%	-
Utilities	3.3%	-
Real Estate	2.0%	-

Return for Risk

YSEP vs. QDTE — Risk / Return Rank

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

YSEP

YSEP Risk / Return Rank: 53
YSEP Sharpe Ratio Rank: 50
YSEP Sortino Ratio Rank: 52
YSEP Omega Ratio Rank: 51
YSEP Calmar Ratio Rank: 52
YSEP Martin Ratio Rank: 58

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.

YSEP vs. QDTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest International Equity Buffer ETF - September (YSEP) 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.

	YSEP	QDTE	Difference
Sharpe ratio: Return per unit of total volatility	1.70	2.66	-0.95
Sortino ratio: Return per unit of downside risk	2.48	3.41	-0.93
Omega ratio: Gain probability vs. loss probability	1.32	1.46	-0.14
Calmar ratio: Return relative to maximum drawdown	2.54	3.86	-1.32
Martin ratio: Return relative to average drawdown	10.07	15.60	-5.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

YSEP vs. QDTE - Sharpe Ratio Comparison

The current YSEP Sharpe Ratio is 1.70, which is lower than the QDTE Sharpe Ratio of 2.66. The chart below compares the historical Sharpe Ratios of YSEP 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

	YSEP	QDTE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.70	2.66	-0.95
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	1.29	-0.68

Drawdowns

YSEP vs. QDTE - Drawdown Comparison

The maximum YSEP drawdown since its inception was -22.58%, roughly equal to the maximum QDTE drawdown of -22.86%. Use the drawdown chart below to compare losses from any high point for YSEP and QDTE.

Drawdown Indicators

	YSEP	QDTE	Difference
Max Drawdown Largest peak-to-trough decline	-22.58%	-22.86%	+0.28%
Max Drawdown (1Y) Largest decline over 1 year	-5.43%	-10.20%	+4.77%
Max Drawdown (3Y) Largest decline over 3 years	-8.75%	—	—
Current Drawdown Current decline from peak	-0.04%	-0.60%	+0.56%
Average Drawdown Average peak-to-trough decline	-4.14%	-3.14%	-1.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.37%	2.52%	-1.15%

Volatility

YSEP vs. QDTE - Volatility Comparison

The current volatility for FT Cboe Vest International Equity Buffer ETF - September (YSEP) is 2.09%, while Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE) has a volatility of 3.72%. This indicates that YSEP 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

	YSEP	QDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.09%	3.72%	-1.63%
Volatility (6M) Calculated over the trailing 6-month period	6.19%	11.01%	-4.82%
Volatility (1Y) Calculated over the trailing 1-year period	8.10%	14.81%	-6.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.41%	18.42%	-7.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.41%	18.42%	-7.01%

YSEP vs. QDTE - Expense Ratio Comparison

YSEP has a 0.90% expense ratio, which is lower than QDTE's 0.97% expense ratio.

Dividends

YSEP vs. QDTE - Dividend Comparison

YSEP 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%
YSEP FT Cboe Vest International Equity Buffer ETF - September	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both YSEP and QDTE in my portfolio?

YSEP and QDTE have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, YSEP or QDTE?

QDTE has higher volatility (3.72%) compared to YSEP (2.09%). In terms of maximum drawdown, YSEP dropped -22.58% vs QDTE's -22.86%.

Which ETF is better, YSEP or QDTE?

On 1-year performance, QDTE leads with 39.17% vs 13.73% for YSEP. On fees, YSEP is cheaper at 0.90% per year. On volatility, YSEP has been the lower-risk option at 2.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, YSEP or QDTE?

Over the 1-year period, QDTE has performed better with a 39.17% return vs 13.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, YSEP or QDTE?

YSEP is cheaper with a 0.90% expense ratio, compared with 0.97% for QDTE.

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

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

What is the main difference between YSEP and QDTE?

YSEP is categorized as Options Trading, while QDTE is Derivative Income. They also come from different issuers: FT Vest and Roundhill. Their fees differ too: 0.90% for YSEP and 0.97% for QDTE.

Which has better risk-adjusted returns?

QDTE currently has the higher Sharpe Ratio (2.66 vs 1.70), 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.