Defiance Nasdaq 100 LightningSpread Income ETF
$40.59−0.26 (−0.62%)
- 1.04%
- $59M
- +22.4%
- 42.56%
- 0M sh
- $41.17
- low $37.40high $52.35
The ETF.net QLDY Grade
D
Score 34 out of 100
- 26 of 31
Score 34 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.F13 out of 100Rank 27 of 31Mission
Whether the fund did what it promised, tested against its stated mandate.B64 out of 100Rank 15 of 19Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.F18 out of 100Rank 27 of 30Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.D38 out of 100Rank 22 of 31Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C45 out of 100Rank 20 of 31
Our read on QLDY
DDefiance's spin on Nasdaq-100 exposure: options for the ride, daily put-spread sales for the income, and a paycheck that lands twice a week instead of once a month.
The fund seeks frequent income while preserving an opportunity for indirect participation in Nasdaq-100 performance, subject to a limit on potential gains.
Why people hold it
- Pays twice a week. Defiance launched the fund billing that cadence as an industry first, and the twice-weekly schedule is baked into its stated income policy.globenewswire.com
- The engine is legible: options for long exposure to the Nasdaq-100's price return, plus put spreads sold daily to generate the cash it distributes.defianceetfs.comsec.gov
- At 1.04% a year it lands right at the median for its leveraged-bull peer group, and it stands in the upper half of that cohort on our review.
Worth knowing
- The income has a price tag. The fund's own objective says participation in Nasdaq-100 performance is subject to a limit on potential gains.
- It launched in September 2025, so the track record is short, and the same-day put spreads at its core carry exposure to sharp single-day drops.sec.gov
- Small fund, light trading. That can mean wider bid-ask spreads and more price-to-NAV wobble than in the category's household names like QLD and TQQQ.
QLDY Holdings
- Stocks
- 5
- 101%
- Ndx 12/18/2026 2001.44 C
QLDY Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
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QLDY$12,242
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | QLDY |
|---|---|
| Year to date | +18.0% |
| 1 month | +4.4% |
| 3 months | +0.4% |
| 1 year | +22.4% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | QLDY |
|---|---|---|
| 2026 YTD | +18.0% | |
| 2025 | +2.7% |
QLDY in the news
QLDY Dividends
- 42.56%
- $17.39
- $0.16 per share
- Weekly
Distribution history
QLDY Risk
- 26.5%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.65
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −15.5%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 1.72
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
QLDY Cost
1.04%
QLDY1.04%
- The middle half of Nasdaq-100 Option Income funds
- Median 0.71%
25 of the 30 Nasdaq-100 Option Income funds charge less.
Other funds in Nasdaq-100 Option Income
- DQDTYYieldMax Nasdaq 100 0DTE Covered Call Strategy ETFExpense ratio 1.17%1 year return +24.9%
- DQGRDHorizon Nasdaq-100 Defined Risk ETFExpense ratio 0.85%1 year return +16.4%
- DFDNDFirst Trust Exchange-Traded Fund IV - FT Vest Dow Jones Internet & Target Income ETFExpense ratio 0.75%1 year return +6.3%
- DKIQQKraneshares Trust - Kraneshares Insperex Nasdaq Dynamic Buffered High Income Index ETFExpense ratio 0.79%1 year return —
- FYQQQYieldMax Short N100 Option Income Strategy ETFExpense ratio 1.11%1 year return −6.3%