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ETF Comparison

QDTE vs XDTE vs RDTE: Same 0DTE Idea, Three Indexes

A side-by-side of Roundhill's Nasdaq-100, S&P 500, and Russell 2000 0DTE covered-call funds covering the book underneath and cost.

Updated September 30, 2026

How these figures are calculated: methodology.

Best for

  • QDTEInvestors who are comfortable trading away most upside for a large, steady payout.
  • RDTEInvestors who want to maximize current income — roughly 25.71%, generated by selling options premium.
  • XDTEInvestors who are comfortable trading away most upside for a large, steady payout.

Jump to the side-by-side numbers

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.

QDTE tops the group over the trailing twelve months with a 22.67% total return, against RDTE at 16.82% and XDTE at 15.12%. 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.
SymbolYTD cumulative1Y cumulativeSince Sep 2024Volatility Sharpe Sortino Max drawdown
QDTE17.67%22.67%23.84%18.3%0.871.21-10.2%
RDTE14.49%16.82%16.67%16.9%0.660.93-9.2%
XDTE10.78%15.12%15.19%12.0%0.801.12-7.7%

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 Sep 2024” measures every fund from September 10, 2024 — 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 past year. 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 past year) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Distribution rate and return of capital

MetricQDTERDTEXDTE
Forward distribution rate19.75%25.71%15.08%
Trailing 12-month yield44.08%44.87%30.90%
Return of capital100.00%100.00%100.00%

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.

Total return against the stated underlying is on QDTE vs QQQ, RDTE vs IWM.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricQDTERDTEXDTE
Full nameRoundhill Nasdaq-100® 0DTE Covered Call Strategy ETFRoundhill Russell 2000 0DTE Covered Call Strategy ETFRoundhill S&P 500 0DTE Covered Call Strategy ETF
IssuerRoundhill InvestmentsRoundhill InvestmentsRoundhill Investments
Underlying indexNasdaq-100Russell 2000S&P 500
Last Close$29.21 as of September 30, 2026$26.36 as of September 30, 2026$38.19 as of September 30, 2026
Distribution rate19.75%25.71%15.08%
Trailing 12-month yield44.08%44.87%30.90%
Distribution Safety Score™ 747773
Safety-Adjusted Yield 14.62%19.80%11.01%
Expense ratio0.96%0.97%0.97%
AUM$983M$179M$334M
Distribution frequencyWeeklyWeeklyWeekly
ObjectiveSeeks weekly income by investing at least 80% of net assets in instruments that provide exposure to the Nasdaq-100 Index and writing zero-days-to-expiration (0DTE) call options against that exposure.Seeks weekly income by investing at least 80% of net assets in instruments that provide exposure to the Russell 2000 Index and writing zero-days-to-expiration (0DTE) call options against that exposure.Seeks weekly income through a covered call strategy that combines a long position in the S&P 500 Index with short zero-days-to-expiration (0DTE) call options on the index.
Asset classEquityEquityEquity
Inception date03/07/202409/10/202403/07/2024
Beta1.19031.17850.91
Last dividend$0.110957 declared, pays 10/02/2026$0.130331 declared, pays 10/02/2026$0.110711 declared, pays 10/02/2026
Ex-dividend date10/01/2026 upcoming10/01/2026 upcoming10/01/2026 upcoming

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. QDTE, RDTE, and XDTE 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

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Roundhill Investments
ETFs56
Total AUM$39.7B

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

Roundhill Investments is known for offering innovative, specialized ETFs that often feature weekly dividend distributions and exposure to trending themes and individual mega-cap stocks. Their lineup spans income-focused strategies, leveraged products, thematic investments in areas like cryptocurrency and artificial intelligence, and weekly-pay funds that appeal to investors seeking frequent distributions. The issuer has built a distinctive niche with products targeting both traditional income seekers and those interested in emerging sectors, offering a diverse range of tickers that go well beyond conventional dividend vehicles.

See our curated list of related YouTube videos on QDTE, RDTE and XDTE.

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Quick verdict

QDTE (Roundhill Nasdaq-100® 0DTE Covered Call Strategy ETF), RDTE (Roundhill Russell 2000 0DTE Covered Call Strategy ETF), XDTE (Roundhill S&P 500 0DTE Covered Call Strategy ETF) are dividend ETFs that take different approaches.

RDTE offers the highest reported yield at 25.71%, followed by QDTE at 19.75%, XDTE at 15.08%.

QDTE is the cheapest with an expense ratio of 0.96%, compared to 0.97% for RDTE and 0.97% for XDTE.

QDTE is the largest fund by assets ($983M), but assets alone do not establish trading costs or liquidity.

Deep dive

Yield & income

On a $10,000 investment: QDTE generates ~$37.98 cash per distribution, RDTE generates ~$49.44 cash per distribution, XDTE generates ~$29.00 cash per distribution at current distribution rates.

QDTE yield19.75%
RDTE yield25.71%
XDTE yield15.08%

Cost & efficiency

Over 10 years on $10,000: QDTE costs ~$960, RDTE costs ~$970, XDTE costs ~$970 in fees (simplified, not compounded).

QDTE ER0.96%
RDTE ER0.97%
XDTE ER0.97%

Strategy & risk

QDTE tracks Nasdaq-100 with a covered call approach; RDTE tracks Russell 2000 with a covered call approach; XDTE tracks S&P 500 with a covered call approach.

QDTE beta1.1903
RDTE beta1.1785
XDTE beta0.91

Fund details

QDTE is managed by Roundhill Investments (launched 03/07/2024) with $983M in assets. RDTE is managed by Roundhill Investments (launched 09/10/2024) with $179M in assets. XDTE is managed by Roundhill Investments (launched 03/07/2024) with $334M in assets.

QDTE AUM$983M
RDTE AUM$179M
XDTE AUM$334M
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Frequently asked questions

What is the difference between QDTE and XDTE?

All three write zero-days-to-expiration covered calls. QDTE (Roundhill Nasdaq-100® 0DTE Covered Call Strategy ETF) is the Nasdaq-100 book. XDTE (Roundhill S&P 500 0DTE Covered Call Strategy ETF) is the S&P 500 book. RDTE (Roundhill Russell 2000 0DTE Covered Call Strategy ETF) is the Russell 2000 book. Cost is 0.96%, 0.97%, and 0.97%; distributions are 19.75%, 15.08%, and 25.71% as of September 2026. Index underneath, not a one-date yield, is the decision.

Which of QDTE, RDTE, XDTE is best for dividend income?

It depends on your goals. RDTE currently offers the highest reported distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility, and funds without an established distribution history have no comparable yield to evaluate. Consider your time horizon and risk tolerance.

What is the difference between QDTE, RDTE, XDTE?

QDTE (Roundhill Nasdaq-100® 0DTE Covered Call Strategy ETF) tracks Nasdaq-100 with a covered call approach, issued by Roundhill Investments. RDTE (Roundhill Russell 2000 0DTE Covered Call Strategy ETF) tracks Russell 2000 with a covered call approach, issued by Roundhill Investments. XDTE (Roundhill S&P 500 0DTE Covered Call Strategy ETF) tracks S&P 500 with a covered call approach, issued by Roundhill Investments.

Can I hold QDTE, RDTE, XDTE together?

Yes — nothing prevents holding them together. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.

Which of QDTE, RDTE and XDTE is safest?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — RDTE scores 77, QDTE scores 74, XDTE scores 73, so RDTE's payout currently looks the more resilient of the group. XDTE has also shown lower price volatility (beta 0.91 vs 1.19 for QDTE). 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 the lowest fees among QDTE, RDTE, XDTE?

QDTE has an expense ratio of 0.96%, RDTE has an expense ratio of 0.97%, XDTE has an expense ratio of 0.97%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 generate in each?

$10,000 in QDTE yields ~$37.98 cash per distribution ($1,975.00/year). $10,000 in RDTE yields ~$49.44 cash per distribution ($2,571.00/year). $10,000 in XDTE yields ~$29.00 cash per distribution ($1,508.00/year).

More comparisons to explore

QDTE vs RDTE vs XDTE — at a glance

Generated September 26, 2026.

Figures quoted in this analysis are from its generation date and may lag the live snapshot table above, which always shows the latest data.

They aim to generate income by holding index exposure while continuously selling call options that expire the next trading day. The key distinction among them is the equity index each tracks and the resulting yield and volatility profile that follows from that choice. This drives their yield spread. RDTE offers the highest distribution rate at 25.71%, followed by QDTE at 19.75%, while XDTE yields 15.08%. All three charge nearly identical expense ratios around 0.96%, but their asset bases vary considerably—QDTE commands $983M in assets versus $179M for RDTE, giving QDTE roughly 5.5× the capital base.

Who each is best for

QDTE: Fits investors seeking aggressive weekly income through exposure to high-momentum, large-cap technology and growth names, who tolerate the elevated beta that comes with Nasdaq-100 concentration.

RDTE: Designed for income-focused allocators drawn to small-cap equity exposure and willing to accept the higher expected volatility of a Russell 2000 strategy in exchange for the highest distribution rate in this group.

XDTE: Matches investors prioritizing broad large-cap index exposure with a lower volatility target, accepting a lower yield in exchange for the diversification and dampened beta of the S&P 500.

Key risks to know

  • NAV erosion at sustained high yields. All three distribute yields well above historical equity market returns (19.75%, 25.71%, 15.08%). Over extended periods, such distribution rates suggest these funds are likely drawing on return-of-capital treatment or principal to fund payouts, which erodes NAV unless underlying index returns exceed the yield by a wide margin.
  • 0DTE call cap risk. By selling options that expire daily, these funds relinquish upside if the underlying index rallies sharply—the short calls will be capped at or near the strike. In a strong bull market, capped returns may significantly lag unhedged index performance.
  • Limited fund history. QDTE and XDTE both launched on 03/07/2024, while RDTE is newer at 09/10/2024. Performance history is too brief to assess how these strategies perform across full market cycles, especially during sustained downturns.
  • Reinvestment timing and dividend consistency. Weekly distribution schedules and reliance on short-term option premiums mean dividend amounts may fluctuate significantly week-to-week based on volatility and market conditions, complicating reinvestment planning.

Bottom line

If you want maximum current yield and accept technology/growth tilt, QDTE stands out; if you target the highest distribution and tolerate small-cap volatility, RDTE leads; if you prefer a broader large-cap base with lower beta, XDTE offers a more conservative entry. All three carry the trade-off of capped upside and NAV erosion risk inherent to high-yield covered call strategies. Past performance does not guarantee future results.

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

Learn the method

The metrics behind this comparison, explained in the Academy.

How covered-call funds work How to read a fund's stats The covered-call opportunity cost

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These comparisons follow the Dividend Vision methodology.