A head-to-head comparison of VegaShares SPX NDX RTY Premium Income ETF and Defiance Nasdaq 100 LightningSpread Income ETF covering yield, cost, risk, and income potential.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
VegaShares operates a focused suite of two income-focused ETFs designed to generate regular distributions through options strategies and dividend investing. The firm's lineup includes ODTE and VAIE, both emphasizing yield generation for investors seeking regular cash flow. With a specialized niche in options-based and dividend income strategies, VegaShares targets investors prioritizing distributions over capital appreciation.
See our curated list of related YouTube videos on ODTE.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
Defiance ETFs is known for offering specialized and thematic investment strategies that cater to niche market segments and alternative income approaches. The issuer's lineup spans income-focused funds, leveraged strategies, combinations of leverage with income generation, and thematic products tied to emerging trends and sectors. Defiance emphasizes non-traditional and differentiated strategies rather than broad-based index exposure, appealing to investors seeking targeted exposure beyond conventional ETF offerings.
See our curated list of related YouTube videos on QLDY.
Seeks current income with exposure to the Nasdaq-100 Index through a lightning spread options strategy designed to generate twice-weekly cash distributions from options premiums.
Asset class
Equity
Equity
Inception date
04/03/2026
09/17/2025
Beta
—
1.4315
Last dividend
$0.0740
$0.1514
Ex-dividend date
07/30/2026
07/31/2026
Bottom lineChoose ODTE if you are comfortable trading away most upside for a large, steady payout. Choose QLDY if you want to maximize current income — roughly 38.55%, generated by selling options premium. There's no free lunch: QLDY's payout comes from selling options, which caps upside and can erode the share price over time, while ODTE keeps full price exposure.
Most used
Income calculator
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Projections assume the current yield and share price remain constant. Actual results will vary.
Total returns
ODTE has lagged QLDY over the year to date, posting a 7.07% total return against 8.30%. ODTE has been the steadier holding, though — annualized volatility of 15.2% against 26.3% for QLDY. Figures are total returns: price change plus every distribution reinvested.
Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of July 31, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Apr 2026” measures every fund from April 6, 2026 — the youngest fund's first trading day — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the shared window since Apr 2026. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the shared window since Apr 2026) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.
Quick verdict
ODTE (VegaShares SPX NDX RTY Premium Income ETF) and QLDY (Defiance Nasdaq 100 LightningSpread Income ETF) are both dividend ETFs, but they take different approaches.
QLDY offers the higher yield at 38.55% vs 14.92% for ODTE. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
ODTE is cheaper with an expense ratio of 0.76% compared to 1.04%.
They track different benchmarks: ODTE is linked to S&P 500, Nasdaq-100, Russell 2000 while QLDY tracks NASDAQ 100, which means their performance drivers differ.
QLDY has $48.3M in assets vs $3.08M for ODTE, but ODTE only launched April 2026 — AUM comparisons will become more meaningful as it builds a track record.
Who should choose each?
Choose ODTE
VegaShares SPX NDX RTY Premium Income ETF
Are comfortable with an options-income strategy — a large payout in exchange for capped upside.
Want to keep costs low — a 0.76% expense ratio vs 1.04% for QLDY.
Choose QLDY
Defiance Nasdaq 100 LightningSpread Income ETF
Want to maximize current income — QLDY distributes roughly 38.55% from selling options premium, vs 14.92% for ODTE.
Are comfortable with an options-income strategy — a large payout in exchange for capped upside.
Prefer an established track record — ODTE only launched April 2026.
Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.
Still deciding? Track ODTE & QLDY for free
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On a $10,000 investment, ODTE would generate roughly $124.33/month, while QLDY would produce $321.25/month, at current distribution rates.
ODTE yield14.92%
QLDY yield38.55%
Monthly diff on $10K$196.92
Cost & efficiency
Over 10 years on $10,000, ODTE would cost approximately $760 in fees vs $1,040 for QLDY (simplified, not compounded). The $280.00 difference may be offset by yield or performance.
ODTE ER0.76%
QLDY ER1.04%
Strategy & risk
Both ODTE and QLDY wrap S&P 500, Nasdaq-100, Russell 2000 with options-based income overlays (covered call and basket). The practical differences are yield target, fee structure, and issuer track record — not the underlying mechanic.
ODTE beta—
QLDY beta1.4315
Fund details
ODTE is managed by VegaShares (launched 04/03/2026) with $3.08M in assets. QLDY is managed by Defiance ETFs (launched 09/17/2025) with $48.3M in assets.
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Frequently asked questions
Is ODTE or QLDY better for dividend income?
It depends on your goals. QLDY currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.
What is the difference between ODTE and QLDY?
Both ODTE (VegaShares SPX NDX RTY Premium Income ETF) and QLDY (Defiance Nasdaq 100 LightningSpread Income ETF) track S&P 500, Nasdaq-100, Russell 2000 with options-based income strategies — the labels "covered call" and "basket" describe closely related mechanics (covered calls are a specific type of options strategy). The real differences show up in yield target (14.92% vs 38.55%), expense ratio (0.76% vs 1.04%), and issuer (VegaShares vs Defiance ETFs).
Can I hold both ODTE and QLDY?
You can, but expect significant overlap. Both funds use options-based income strategies on S&P 500, Nasdaq-100, Russell 2000, so holding them together gives you two wrappers around effectively the same exposure — not true diversification. Weigh issuer, fee, and yield differences rather than treating them as complementary.
Which has lower fees, ODTE or QLDY?
ODTE has an expense ratio of 0.76% while QLDY charges 1.04%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in ODTE vs QLDY generate?
At current rates, $10,000 in ODTE would generate roughly $124.33 per month ($1,492.00 annually). The same in QLDY would produce about $321.25 per month ($3,855.00 annually).
Which has performed better historically, ODTE or QLDY?
ODTE has lagged QLDY over the year to date, posting a 7.07% total return against 8.30%. ODTE has been the steadier holding, though — annualized volatility of 15.2% against 26.3% for QLDY. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
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