Data as of Nov 4, 2026.
QDTE vs TPAY: Dividend Yield & Total Return
QDTE and TPAY both write options for income.
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Net assets on Nov 4, 2026: $881m for Roundhill Nasdaq-100 0DTE Covered Call Strategy ETF and $2.1m for Roundhill S&P 500 Target 10 Managed Distribution ETF.
1.4 pts ahead of QQQ
QDTE over 1 year: paid 34.7%, price −23.4%, total +13.7%, QQQ +12.3%, +1.4 pts. Data to Nov 4, 2026.
QQQ
+12.3%
QDTE
+13.7%
34.7% of it arrived as cash
1.4 pts ahead of QQQ
Total return, distributions reinvested
1.4 pts ahead of QQQ
QDTE over 1 year: paid 34.7%, price −23.4%, total +13.7%, QQQ +12.3%, +1.4 pts. Data to Nov 4, 2026.
QQQ
+12.3%
QDTE
+13.7%
34.7% as cash
1.4 pts ahead of QQQ
34.7% of it arrived as cash. Total return, distributions reinvested. QDTE over 1 year: paid 34.7%, price −23.4%, total +13.7%, QQQ +12.3%, +1.4 pts. Data to Nov 4, 2026.
Data to Nov 4, 2026.1 pt behind VOO
TPAY since launch: paid 6.6%, price +4.6%, total +11.6%, VOO +12.6%, −1.0 pts. Data to Nov 4, 2026.
VOO
+12.6%
TPAY
+11.6%
6.6% of it arrived as cash
1 pt behind VOO
Total return, distributions reinvested
1 pt behind VOO
TPAY since launch: paid 6.6%, price +4.6%, total +11.6%, VOO +12.6%, −1.0 pts. Data to Nov 4, 2026.
VOO
+12.6%
TPAY
+11.6%
1 pt behind VOO
6.6% of it arrived as cash. Both charts share one scale, with zero at the line. TPAY since launch: paid 6.6%, price +4.6%, total +11.6%, VOO +12.6%, −1.0 pts. Data to Nov 4, 2026.
Data to Nov 4, 2026.Pair scorecard
TPAY costs 0.47 points a year less; QDTE is far larger, $881m against $2.1m.
Points (pts) are percentage points.
| Measure | QDTE | TPAY |
|---|---|---|
| Paid and earned | ||
| Total return, 1 year | +13.7% | not published |
| Price change | fell 23.4% (1 year) | rose 4.6% (since Feb 18, 2026) |
| Return of capital, issuer estimate | 100% of the Oct 30, 2026 payment | 100% of the Oct 15, 2026 payment |
| Against its benchmark | ||
| Benchmark | Nasdaq-100, measured through QQQ | Vanguard S&P 500 ETF, measured through VOO |
| Against its benchmark, same days | ahead by 1.4 pts | behind by 1.0 pts |
| Cost and size | ||
| Expense ratio | 0.96% | 0.49% |
| Net assets | $881m | $2.1m |
| Holdings | ||
| Holdings in common | 0% | |
Risk and return
Feb 27, 2026 to Oct 30, 2026 · 35 weekly returnsFrom Feb 2026 to Oct 2026, QDTE and TPAY returned about the same: +10.3% and +10.2%. TPAY fell slightly less at its worst: −7.2% to −7.4%.
Full scorecard
3 measures, with how each is measured Open ↓
| Measure | QDTE | TPAY | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +10.3% | +10.2% | Tie | Price change plus distributions, reinvested. |
| Price return | −9.1% | +3.4% | TPAY | Price change alone, distributions left out. |
| Risk | ||||
| Max drawdown | −7.4% | −7.2% | TPAY (slight) | Deepest fall from a high to the low after it. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 35 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, QDTE and TPAY hold 0% of their money in the same securities at the same weight. Holdings dated Nov 4, 2026.
half
0% in common
Only in one fund ↓
Side by side
As of Nov 4, 2026. Source: ETFIQ. Cash paid: distributions over the window, as a share of the starting price. Payout rate: the latest payment, annualized, over today’s price.
Window by window
| Total return | Cash paid | Against the benchmark | ||||
|---|---|---|---|---|---|---|
| Window | QDTE | TPAY | QDTE | TPAY | QDTE | TPAY |
| 3 months | −1.6% | −0.8% | 6.3% | 2.3% | +1.8 pts | −0.7 pts |
| 6 months | +1.6% | +4.2% | 14.3% | 4.7% | +2.0 pts | −0.8 pts |
| 1 year | +13.7% | – | 34.7% | – | +1.5 pts | – |
| Since launchNot the same days: QDTE Mar 2024 · TPAY Feb 2026 | +55.2% | +11.6% | 75.6% | 6.6% | −2.3 pts | −1.1 pts |
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No client brief for this pair: ETFIQ prints no one-year total return for TPAY.
QDTE
Over the year to Nov 4, 2026, QDTE paid 34.7% of its starting value in cash distributions while its price fell 23.4%. With every distribution reinvested, the fund returned +13.7%. Nasdaq-100 (QQQ) returned +12.3% over the same days, so a holder was ahead by 1.4 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 27.9%, paid weekly. Roundhill estimates that 100% of the distribution paid Oct 30, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.
TPAY
Over the period from its first trade on Feb 18, 2026 to Nov 4, 2026, TPAY paid 6.6% of its starting value in cash distributions while its price rose 4.6%. With every distribution reinvested, the fund returned +11.6%. Vanguard S&P 500 ETF (VOO) returned +12.6% over the same days, so a holder was behind by 1.0 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 9.5%, paid monthly. Roundhill estimates that 100% of the distribution paid Oct 15, 2026 was a return of capital (its 19a-1 notice).
Questions people ask
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How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
Every number is an ETFIQ calculation with distributions reinvested.
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ETFIQ, QDTE against TPAY, data as of Nov 4, 2026. https://etfiq.com/compare/income/qdte-vs-tpay
ETFIQ. (Nov 4, 2026). QDTE against TPAY. Retrieved from https://etfiq.com/compare/income/qdte-vs-tpay
[QDTE against TPAY (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/income/qdte-vs-tpay)
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