ETF Comparison

ODTE vs QQQY: Which Is the Better Pick in 2026?

A head-to-head comparison of VegaShares SPX NDX RTY Premium Income ETF and Defiance Nasdaq 100 Weekly Distribution ETF covering yield, cost, risk, and income potential.

Updated September 30, 2026

How these figures are calculated: methodology.

Best for

ODTEInvestors who want a covered-call overwrite written on the holdings themselves.
QQQYInvestors who want index call spreads structured for Section 1256 tax treatment.

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Visual comparison

Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year.

ODTE has lagged QQQY over the shared window since Apr 2026, posting a 5.74% total return against 25.11%. ODTE has been the steadier holding, though — annualized volatility of 13.6% against 20.1% for QQQY. Figures are total returns: price change plus every distribution reinvested.

Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
Symbol	Since Apr 2026	Volatility	Sharpe	Sortino	Max drawdown
ODTE	5.74%	13.6%	0.51	0.71	-7.2%
QQQY	25.11%	20.1%	2.06	3.21	-10.5%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 30, 2026. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year. “Since Apr 2026” measures every fund from April 6, 2026 — the start of shared available history — 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.

Distribution rate, SEC yield and return of capital

Metric	ODTE	QQQY
Forward distribution rate	14.19%	29.92%
Trailing 12-month yield	6.97%	33.90%
30-day SEC yield	—	-0.93%
Return of capital	—	90.93%

Total return (price change plus reinvested distributions) is the Total returns section above. Return of capital is the share of a recent distribution that was not income. A 30-day SEC yield can sit far from the headline distribution rate; both numbers are the fund's own published fields.

Total return against the stated underlying is on ODTE vs SPX, NDX, RTY, QQQY vs QQQ.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
Metric	ODTE	QQQY
Full name	VegaShares SPX NDX RTY Premium Income ETF	Defiance Nasdaq 100 Weekly Distribution ETF
Issuer	VegaShares	Defiance ETFs
Last Close	$24.92 as of September 30, 2026	$22.63 as of September 30, 2026
Distribution rate	14.19%	29.92%
Trailing 12-month yield	6.97%	33.90%
30-day SEC yield	—	-0.93%
Distribution Safety Score™	50	61
Safety-Adjusted Yield	—	18.25%
Expense ratio	0.76%	1.01%
AUM	$2.76M	$189M
Distribution frequency	Weekly	Weekly
Underlying index	S&P 500, Nasdaq-100, Russell 2000	Nasdaq-100
Objective	Seeks weekly income by investing at least 80% of net assets in the constituents of the S&P 500, Nasdaq-100 and Russell 2000 indices, or instruments linked to them, alongside an options premium strategy.	Seeks to provide current income while maintaining exposure to the performance of the Nasdaq-100 Index. The fund is actively managed and designed to generate weekly cash distributions primarily through options premiums by selling daily credit call spreads on the Nasdaq-100 Index.
Asset class	Equity	Equity
Inception date	04/03/2026	09/03/2020
Beta	—	1.0711
Last dividend	$0.068	$0.1302 declared, pays 10/02/2026
Ex-dividend date	09/24/2026	10/01/2026 upcoming

Bottom lineChoose ODTE if you want a covered-call overwrite written on the holdings themselves. Choose QQQY if you want index call spreads structured for Section 1256 tax treatment. ODTE and QQQY both use option or derivative overlays. Their tradeoff is the underlying exposure, how each option strategy is implemented, and the yield each targets; either overlay can limit upside participation, so neither offers uncapped price exposure.

How the risk works

Read this before the income numbers below: the strategy mechanics on this page shape what those payouts can cost you.

Capped upside and premium dependence. ODTE and QQQY generate income by selling options, which trades away part of a strong rally in exchange for premium. Distributions can include return of capital, and a payout the underlying assets cannot sustain shows up as NAV erosion over time — the big yield number is not free.

Learn the mechanics: Return of capital, explained · NAV erosion, explained

Model this comparison:

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Income calculator

See how much monthly income a hypothetical investment would generate in each ETF at current yields.

VegaShares

ETFs6

Total AUM$64.4M

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

VegaShares specializes in options-based and thematic ETFs designed to generate income and capitalize on emerging trends. The issuer's lineup spans income-focused strategies, including covered call funds, alongside thematic offerings that target specific market segments and innovation themes. VegaShares serves investors seeking alternative approaches to traditional equity exposure, with a concentrated portfolio of strategically named funds addressing both income generation and sector-specific growth opportunities.

See our curated list of related YouTube videos on ODTE.

See all VegaShares ETFs

Defiance ETFs

ETFs88

Total AUM$11.3B

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 QQQY.

See all Defiance ETFs ETFs

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Quick verdict

ODTE (VegaShares SPX NDX RTY Premium Income ETF) and QQQY (Defiance Nasdaq 100 Weekly Distribution ETF) are both weekly-pay dividend ETFs, but they take different approaches.

QQQY offers the higher yield at 29.92% vs 14.19% 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 1.01%.

They have different reference exposures: ODTE is linked to S&P 500, Nasdaq-100, Russell 2000 while QQQY is linked to Nasdaq-100, which means their performance drivers differ.

QQQY is the larger fund by assets ($189M), but assets alone do not establish trading costs or liquidity.

Who should choose each?

Choose ODTE

VegaShares SPX NDX RTY Premium Income ETF

Want a covered-call overwrite on the stocks the fund holds.
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 1.01% for QQQY.

Choose QQQY

Defiance Nasdaq 100 Weekly Distribution ETF

Want index call spreads structured for Section 1256 tax treatment.
Want to maximize current income — QQQY distributes roughly 29.92% from selling options premium, vs 14.19% for ODTE.
Are comfortable with an options-income strategy — a large payout in exchange for capped upside.

Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.

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Deep dive

Yield & income

On a $10,000 investment, ODTE would generate roughly $27.29 cash per distribution, while QQQY would produce $57.54 cash per distribution, at current distribution rates. Both pay weekly distributions.

ODTE yield14.19%

QQQY yield29.92%

Cash diff on $10K$30.25

Cost & efficiency

Over 10 years on $10,000, ODTE would cost approximately $760 in fees vs $1,010 for QQQY (simplified, not compounded). The $250.00 difference may be offset by yield or performance.

ODTE ER0.76%

QQQY ER1.01%

Strategy & risk

Both ODTE and QQQY wrap S&P 500, Nasdaq-100, Russell 2000 with options-based income overlays (covered call and options). The practical differences are yield target, fee structure, and issuer track record — not the underlying mechanic.

ODTE beta—

QQQY beta1.0711

Fund details

ODTE is managed by VegaShares (launched 04/03/2026) with $2.76M in assets. QQQY is managed by Defiance ETFs (launched 09/03/2020) with $189M in assets.

ODTE AUM$2.76M

QQQY AUM$189M

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Frequently asked questions

What is the current distribution rate for ODTE and QQQY?

ODTE currently distributes 14.19% and QQQY 29.92%, based on fund data updated September 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is ODTE or QQQY better for dividend income?

It depends on your goals. QQQY 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 QQQY?

Both ODTE (VegaShares SPX NDX RTY Premium Income ETF) and QQQY (Defiance Nasdaq 100 Weekly Distribution ETF) track S&P 500, Nasdaq-100, Russell 2000 with options-based income strategies — the labels "covered call" and "options" describe closely related mechanics (covered calls are a specific type of options strategy). The real differences show up in yield target (14.19% vs 29.92%), expense ratio (0.76% vs 1.01%), and issuer (VegaShares vs Defiance ETFs).

Can I hold both ODTE and QQQY?

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.

Is ODTE or QQQY safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — QQQY scores 61, ODTE scores 50, so QQQY's payout currently looks the more resilient of the two. No score makes an investment risk-free — treat this as a screening signal, not a guarantee, and the leverage, options-income, or crypto caveats flagged on this page apply regardless of score.

Which has lower fees, ODTE or QQQY?

ODTE has an expense ratio of 0.76% while QQQY charges 1.01%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 in ODTE vs QQQY generate?

At current rates, $10,000 in ODTE would generate roughly $27.29 cash per distribution ($1,419.00 annually). The same in QQQY would produce about $57.54 cash per distribution ($2,992.00 annually).

Which has performed better historically, ODTE or QQQY?

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ODTE vs QQQY — at a glance

Generated September 26, 2026.

Overview

ODTE and QQQY are both options-overlay ETFs that generate weekly income through systematic options strategies applied to equity indices, but they differ sharply in scope, yield, and maturity. ODTE covers three broad indices (S&P 500, Nasdaq-100, and Russell 2000) using a premium income approach, while QQQY focuses exclusively on the Nasdaq-100 via daily credit call spreads. QQQY is an established fund with $189M in assets, whereas ODTE is newly launched with only $2.76M.

How they differ

The biggest difference is strategy scope: ODTE diversifies across three major indices simultaneously, while QQQY runs a pure Nasdaq-100 play. QQQY's distribution rate of 29.92% significantly exceeds ODTE's 14.19%, reflecting a more concentrated options approach—specifically daily credit spreads versus a broader premium income strategy. QQQY reports a 1.0711 beta; the difference in yield between them raises the question of whether concentration in Nasdaq-100 names drives the payout gap.

Who each is best for

ODTE: Fits investors seeking broad U.S. equity exposure—across large-cap, mega-cap, and small-cap—wrapped in a weekly income structure, and who are comfortable with options strategies and elevated distribution yields.

QQQY: Fits investors with concentrated conviction in Nasdaq-100 growth names and a high tolerance for leverage and concentrated options risk in exchange for significantly larger weekly payouts.

Key risks to know

Extreme yield sustainability: QQQY's 29.92% yield raises the question of whether underlying Nasdaq-100 appreciation can sustain payouts without material NAV erosion or return-of-capital treatment. ODTE's 14.19% yield carries similar sustainability questions, though at a lower magnitude.

Options and leverage risk: Both funds employ daily or weekly options strategies that can suffer sharp losses during rapid equity rallies (if calls are capped) or declines (if spreads are breached). Index moves can force assignment or render call spreads worthless faster than the underlying equity recovers.

Concentrated index exposure: QQQY's Nasdaq-100 focus means significant concentration in mega-cap technology and growth stocks; any sector downturn or rate shock will amplify losses relative to broader diversification.

Newness and backtest uncertainty: ODTE launched 5 months, so live performance history is nonexistent; the stated yield is a projection based on options pricing models, not observed distributions.

Bottom line

If you want diversified U.S. If you're drawn to Nasdaq-100 names and willing to accept leverage and high NAV erosion risk for maximum current payout, QQQY's 29.92% yield and $189M in live AUM represent a different tradeoff—but you're effectively trading long-term capital for near-term cash. Both carry structural risks that past performance (or in ODTE's case, backtested projections) cannot fully predict.

AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.

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The metrics behind this comparison, explained in the Academy.

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These comparisons follow the Dividend Vision methodology.