Which paid more, QDTE or YMAX?

Over the year to Oct 28, 2026, QDTE paid 34.2% of its starting price in cash and YMAX paid 36.1%, so YMAX paid more. Cash paid is not the same as money made: the price change matters too.

Which returned more once distributions are counted, QDTE or YMAX?

With every distribution reinvested, QDTE returned +16.5% and YMAX −4.0% over the year to Oct 28, 2026.

Which is cheaper, QDTE or YMAX?

QDTE charges 0.96% a year and YMAX charges 1.33%, so QDTE is cheaper. Fees come from each fund's prospectus.

Data as of Oct 28, 2026.

Income ETFs

QDTE vs YMAX: Dividend Yield & Total Return

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Over the year to Oct 28, 2026, YMAX paid 36.1% of its price in cash against QDTE’s 34.2%, though QDTE returned more with it reinvested.

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Net assets: $919m on Oct 28, 2026 for Roundhill Nasdaq-100 0DTE Covered Call Strategy ETF, and $352m on Oct 27, 2026 for YieldMax Universe Fund of Option Income ETFs.

QDTE on its own →YMAX on its own →

At a glance

34.2%

QDTE cash paid, 1 year

36.1%

YMAX cash paid, 1 year

+16.5%

QDTE total return, 1 year

−4.0%

YMAX total return, 1 year

QDTE · 1 year to Oct 28, 2026 1.3 pts ahead of QQQ

QDTE

+16.5%

QQQ

+15.2%

1.3 pts ahead of QQQ

QDTE over 1 year: paid 34.2%, price −21.6%, total +16.5%, QQQ +15.2%, +1.3 pts. Data to Oct 28, 2026.

QQQ

+15.2%

QDTE

+16.5%

34.2% of it arrived as cash

1.3 pts ahead of QQQ

Total return, distributions reinvested

1.3 pts ahead of QQQ

QDTE over 1 year: paid 34.2%, price −21.6%, total +16.5%, QQQ +15.2%, +1.3 pts. Data to Oct 28, 2026.

QQQ

+15.2%

QDTE

+16.5%

34.2% as cash

1.3 pts ahead of QQQ

34.2% of it arrived as cash. Total return, distributions reinvested. QDTE over 1 year: paid 34.2%, price −21.6%, total +16.5%, QQQ +15.2%, +1.3 pts. Data to Oct 28, 2026.

Data to Oct 28, 2026.

YMAX · 1 year to Oct 28, 2026 14.9 pts behind its own holdings

YMAX

−4.0%

Own

+10.9%

14.9 pts behind its own holdings

YMAX over 1 year: paid 36.1%, price −42.4%, total −4.0%, its own holdings +10.9%, −14.9 pts. Data to Oct 28, 2026.

its own holdings

+10.9%

YMAX

−4.0%

14.9 pts behind its own holdings

Total return, distributions reinvested

14.9 pts behind its own holdings

YMAX over 1 year: paid 36.1%, price −42.4%, total −4.0%, its own holdings +10.9%, −14.9 pts. Data to Oct 28, 2026.

its own holdings

+10.9%

YMAX

−4.0%

14.9 pts behind its own holdings

36.1% of it arrived as cash. Both charts share one scale, with zero at the line. YMAX over 1 year: paid 36.1%, price −42.4%, total −4.0%, its own holdings +10.9%, −14.9 pts. Data to Oct 28, 2026.

Data to Oct 28, 2026.

Pair scorecard

QDTE costs 0.37 points a year less; their one-year returns differ by 20.5 points; QDTE is 2.6 times larger.

Points (pts) are percentage points.

QDTE vs YMAX: Dividend Yield & Total Return
Measure	QDTE	YMAX
Paid and earned
Measure	QDTE	YMAX
Total return, 1 year	+16.5%	−4.0%
Price change, 1 year	fell 21.6%	fell 42.4%
Return of capital, issuer estimate	100% of the Oct 23, 2026 payment	35% of the Oct 29, 2026 payment
Against its benchmark
Measure	QDTE	YMAX
Benchmark	Nasdaq-100, measured through QQQ	its own holdings
Cost and size
Measure	QDTE	YMAX
Expense ratio	0.96%	1.33%
Net assets, as of Oct 27, 2026	$916m	$352m
Holdings
Measure	QDTE	YMAX
Holdings in common	0%

ETFIQ Distribution Coverage Score · QDTE scores higher How much of what it paid out did its total return cover?

IQ Income Score35.1QDTE16.2YMAX

How much of its payouts the fund's total return covered, ranked against 164 income ETFs not writing on a single company. 100 is best. How it is computed

QDTE 35.1

YMAX 16.2

0.3, the lowest in this set 99.7, the highest

A percentile among the 164 income ETFs not writing on a single company. One year only, and a ratio of two published numbers: it says nothing about where a distribution came from. All income ETFs ranked by it →

Holdings in common uses holdings dated Oct 28, 2026. Method

Risk and return

Mar 15, 2024 to Oct 23, 2026 · 136 weekly returns

QDTE YMAX

Return

Total return edge QDTE +60.8% +27.4%

Annualized edge QDTE +19.9% +9.7%

Price return edge QDTE −38.8% −65.9%

Risk

Volatility edge QDTE 17.8% 22.2%

Max drawdown edge QDTE −20.5% −24.1%

Risk-adjusted

Sharpe edge QDTE 0.87 0.33

Sortino edge QDTE 1.27 0.48

Calmar edge QDTE 0.97 0.40

Reading

QDTE returned more: +60.8% to +27.4%. QDTE swung less: 17.8% to 22.2%. QDTE fell less at its worst: −20.5% to −24.1%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: QDTE vs YMAX: Dividend Yield & Total Return
Measure	QDTE	YMAX	Edge	How it is measured
Return
Total return	+60.8%	+27.4%	QDTE	Price change plus distributions, reinvested.
Annualized	+19.9%	+9.7%	QDTE	Total return as a yearly rate.
Price return	−38.8%	−65.9%	QDTE	Price change alone, distributions left out.
Risk
Volatility	17.8%	22.2%	QDTE	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	12.2%	15.4%	QDTE	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−20.5%	−24.1%	QDTE	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	0.87	0.33	QDTE	Return above Treasury bills per unit of volatility.
Sortino	1.27	0.48	QDTE	Return above Treasury bills per unit of downside deviation.
Calmar	0.97	0.40	QDTE	Annualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 136 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

By the books each fund has filed, QDTE and YMAX hold 0% of their money in the same securities at the same weight. Holdings dated Oct 28, 2026.

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first QDTE YMAX

Only in one fund ↓

Only in QDTE

QQQ 11/19/2027 70.11 C 73.81%

QQQ 09/17/2027 70.69 C 17.75%

Only in YMAX

YieldMax AMD Option Income Strategy ETF 5.17%

YieldMaxTM PLTR Option Income Strategy ETF 5.06%

YieldMax MRNA Option Income Strategy ETF 4.93%

YieldMax AI Option Income Strategy ETF 4.75%

YieldMax MSFT Option Income Strategy ETF 4.53%

YieldMax SNOW Option Income Strategy ETF 4.53%

YieldMax COIN Option Income Strategy ETF 4.41%

YieldMax Bitcoin Option Income Strategy ETF 4.36%

Check overlap with more funds →

Side by side

QDTE Roundhill Nasdaq-100 0DTE Covered Call Strategy ETF · 0DTE covered call on QQQ, paying weekly YMAX YieldMax Universe Fund of Option Income ETFs · Synthetic covered call on its own holdings, paying weekly

Issuer Roundhill YieldMax

Strategy 0DTE covered call synthetic covered call

Benchmark Nasdaq-100 (QQQ) YMAX's own holdings, without the options (from its filed holdings, rebalanced at each filing; latest Oct 26, 2026)

Pays weekly weekly

Payout rate, annualized 20.7% 39.9%

Expense ratio 0.96% 1.33%

Cash paid, 1 year 34.2% 36.1%

Price change, 1 year −21.6% −42.4%

Total return, 1 year +16.5% −4.0%

Benchmark return, 1 year +15.2% +10.9%

Ahead or behind +1.3 pts −14.9 pts

Return of capital, latest estimate 100% 35%

Age 2.6 years 2.8 years

Net assets, QDTE as of Oct 28, 2026 and YMAX as of Oct 27, 2026 $919m $352m

As of Oct 28, 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

Window by window: QDTE vs YMAX: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	QDTE	YMAX	QDTE	YMAX	QDTE	YMAX
3 months	+9.5%	+10.0%	6.6%	10.6%	−0.3 pts	−18.4 pts
6 months	+10.2%	+10.4%	14.9%	22.3%	+0.3 pts	−15.1 pts
1 year	+16.5%	−4.0%	34.2%	36.1%	+1.3 pts	−14.9 pts
Since launchNot the same days: QDTE Mar 2024 · YMAX Jan 2024	+61.4%	+43.9%	75.3%	93.4%	−3.8 pts	not measured

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Client brief · page 1 of 2 Report BR-D49BC60545

QDTE and YMAX are built for the same job. How do they differ in cost, holdings and results?

What each is measured against. QDTE is measured against Nasdaq-100 through QQQ and YMAX against its own holdings.
Holdings in common. 0% of the weight is in the same securities (holdings dated Oct 28, 2026).
One-year total return. Over 1 year to Oct 28, 2026 QDTE returned +16.5% and YMAX −4.0% with distributions reinvested, a gap of 20.5 points.

Data as of Oct 28, 2026.

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About each fund

QDTE

Over the year to Oct 28, 2026, QDTE paid 34.2% of its starting value in cash distributions while its price fell 21.6%. With every distribution reinvested, the fund returned +16.5%. Nasdaq-100 (QQQ) returned +15.2% over the same days, so a holder was ahead by 1.3 pts. At its price on Oct 28, 2026 the latest distribution annualizes to 20.7%, paid weekly. Roundhill estimates that 100% of the distribution paid Oct 23, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.

YMAX

Over the year to Oct 28, 2026, YMAX paid 36.1% of its starting value in cash distributions while its price fell 42.4%. With every distribution reinvested, the fund returned −4.0%. YMAX's own holdings, without the options (from its filed holdings, rebalanced at each filing; latest Oct 26, 2026) returned +10.9% over the same days, so a holder was behind by 14.9 pts. At its price on Oct 28, 2026 the latest distribution annualizes to 39.9%, paid weekly. YieldMax estimates that 35% of the distribution paid Oct 29, 2026 was a return of capital (its 19a-1 notice).

Questions people ask

Which paid more, QDTE or YMAX?: Over the year to Oct 28, 2026, QDTE paid 34.2% of its starting price in cash and YMAX paid 36.1%, so YMAX paid more. Cash paid is not the same as money made: the price change matters too.
Which returned more once distributions are counted, QDTE or YMAX?: With every distribution reinvested, QDTE returned +16.5% and YMAX −4.0% over the year to Oct 28, 2026.
Which is cheaper, QDTE or YMAX?: QDTE charges 0.96% a year and YMAX charges 1.33%, so QDTE is cheaper. Fees come from each fund's prospectus.

Other comparisons

QDTE vs YMAG QDTE vs SIXH QDTE vs ULTY QDTE vs YYY YMAX vs QYLD YMAX vs QQQI YMAX vs JEPQ YMAX vs GPIQ

Where to next

Nasdaq-100 (QQQ) →QDTE on its own →YMAX on its own →QDTE dividend history →QDTE holdings →YMAX dividend history →YMAX holdings →Method →Standards and sources →

Sources and dates

QDTE filings on SEC EDGAR ↗

QDTE prospectus with the expense ratio (SEC) ↗

QDTE 19a-1 distribution notice ↗

Roundhill page for QDTE ↗

YMAX filings on SEC EDGAR ↗

YMAX prospectus with the expense ratio (SEC) ↗

YMAX 19a-1 distribution notice ↗

YieldMax page for YMAX ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

It is a place in a set, not a rating or a recommendation.

Overlap adds up the smaller of the two weights for each security both funds hold.

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, QDTE against YMAX, data as of Oct 28, 2026. https://etfiq.com/compare/income/qdte-vs-ymax

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