QQQY
Defiance Nasdaq 100 Enhanced Options Income ETF
QQQY seeks to provide monthly income by actively placing bullish bets on the Nasdaq-100 Index through a 0DTE put option writing strategy. The secondary objective of the fund is to seek limited exposure to the performance of the index.
Risk Management
DERIVATIVES
Active
MANAGEMENT STYLE
173.9 M
ASSETS UNDER MGMT
99 bp
EXPENSES
Fund Basics
| Fund sponsor | Tidal Investments LLC |
| Category | Risk Management |
| Asset class | Derivatives |
| Website | link... |
| Inception date | Sep 14, 2023 |
| Assets (mns) | $174 |
| Expense ratio | 99 bp |
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Monthly |
| Taxation | 1099 |
| Derivatives-based | Yes |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top Holdings
| CASH & OTHER | 26.4 % |
| UNITED STATES TREASURY NOTE/BOND 3.875% 01/15 | 22.2 % |
| UNITED STATES TREASURY BILL 07/09/2026 | 17.9 % |
| UNITED STATES TREASURY BILL 08/14/2025 | 12.4 % |
| UNITED STATES TREASURY BILL 02/19/2026 | 11.2 % |
| UNITED STATES TREASURY BILL 11/06/2025 | 8.1 % |
| UNITED STATES TREASURY NOTE/BOND 4.25% 10/15/ | 2.2 % |
| NDXP US 07/28/25 P23320 | -0.3 % |
Asset Allocation
Historical Performance
Standardized Performance (as of 07/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | -15.5% | -34.2% | -- | -- | -- | -- | -- | -36.0% |
| Dividend Yield | 22.9% | 43.2% | -- | -- | -- | -- | -- | 49.1% |
| Total Returns | 7.4% | 9.0% | -- | -- | -- | -- | -- | 13.0% | Ann. Volatility | 19.4% | 17.2% | -- | -- | -- | -- | -- | 14.7% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.98 | 70% |
| MSCI EAFE | 0.27 | 6% |
| MSCI Emg Mkts | 0.05 | 0% |
Liquidity Measures
| Avg. volume (000) | 126 |
| ADV traded (mns) | $3 |
| Turnover | 1.9% |
| Avg. Bid/Ask (% of price) | 0.06% |
Technical Indicators
| Recent close | $25.63 |
| 30d moving avg. | $25.35 |
| Annualized volatility | 13.9% |
| Relative strength (RSI) | 70 |
| Short interest | 5.2% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
Expense Analysis
| Peer Group | Active Risk Management Derivatives ETFs |
| # of ETFs | 109 |
| Avg. Expense Ratio | 85.0 bp |
| Std. Deviation | 17 bp |
| QQQY (99 bp) Percentile rank | 59 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| QQQY | 99.0 | 6.1 | 105.1 |
| Peer Avg. | 94.4 | 32.9 | 127.4 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .