AAPY.L vs. QYLD.L
AAPY.L (IncomeShares Apple (AAPL) Options ETP) and QYLD.L (Global X Nasdaq 100 Covered Call UCITS ETF USD (Dist)) are both exchange-traded funds - AAPY.L is a Derivative Income fund actively managed by Leverage Shares, while QYLD.L is a Nasdaq-100 fund tracking the Cboe Nasdaq-100 BuyWrite v2 UCITS Index. AAPY.L is actively managed, while QYLD.L is passively managed. Over the past year, AAPY.L returned 17.38% vs 16.20% for QYLD.L. At a 0.24 correlation, their price movements are largely independent. AAPY.L charges 0.55%/yr vs 0.45%/yr for QYLD.L.
Performance
AAPY.L vs. QYLD.L - Performance Comparison
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Returns By Period
In the year-to-date period, AAPY.L achieves a 6.55% return, which is significantly higher than QYLD.L's 4.70% return.
AAPY.L
- 1D
- 0.00%
- 1M
- 6.07%
- 6M
- 12.41%
- YTD
- 6.55%
- 1Y
- 17.38%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QYLD.L
- 1D
- -2.15%
- 1M
- -2.53%
- 6M
- 3.85%
- YTD
- 4.70%
- 1Y
- 16.20%
- 3Y*
- 11.90%
- 5Y*
- —
- 10Y*
- —
AAPY.L vs. QYLD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
AAPY.L IncomeShares Apple (AAPL) Options ETP | 6.55% | -6.59% | 12.14% |
QYLD.L Global X Nasdaq 100 Covered Call UCITS ETF USD (Dist) | 4.70% | 5.36% | 8.45% |
Correlation
The correlation between AAPY.L and QYLD.L is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Oct 11, 2024 | 0.24 |
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Return for Risk
AAPY.L vs. QYLD.L — Risk / Return Rank
AAPY.L
QYLD.L
AAPY.L vs. QYLD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for IncomeShares Apple (AAPL) Options ETP (AAPY.L) and Global X Nasdaq 100 Covered Call UCITS ETF USD (Dist) (QYLD.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| AAPY.L | QYLD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.83 | ||
| Sortino ratioReturn per unit of downside risk | -1.22 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.33 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 0.92 | 3.44 | -2.53 |
| Martin ratioReturn relative to average drawdown | 2.27 | 15.06 | -12.79 |
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Drawdowns
AAPY.L vs. QYLD.L - Drawdown Comparison
The maximum AAPY.L drawdown since its inception was -30.25%, which is greater than QYLD.L's maximum drawdown of -21.59%. Use the drawdown chart below to compare losses from any high point for AAPY.L and QYLD.L.
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Drawdown Indicators
| AAPY.L | QYLD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.25% | -21.59% | -8.66% |
Max Drawdown (1Y)Largest decline over 1 year | -18.86% | -4.68% | -14.18% |
Max Drawdown (3Y)Largest decline over 3 years | — | -21.59% | — |
Current DrawdownCurrent decline from peak | -1.28% | -3.81% | +2.53% |
Average DrawdownAverage peak-to-trough decline | -10.70% | -2.76% | -7.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.63% | 1.07% | +6.56% |
Volatility
AAPY.L vs. QYLD.L - Volatility Comparison
IncomeShares Apple (AAPL) Options ETP (AAPY.L) has a higher volatility of 8.98% compared to Global X Nasdaq 100 Covered Call UCITS ETF USD (Dist) (QYLD.L) at 5.08%. This indicates that AAPY.L's price experiences larger fluctuations and is considered to be riskier than QYLD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AAPY.L | QYLD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.98% | 5.08% | +3.90% |
Volatility (6M)Calculated over the trailing 6-month period | 18.09% | 8.46% | +9.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.11% | 9.99% | +12.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.08% | 16.29% | +8.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.08% | 16.29% | +8.79% |
AAPY.L vs. QYLD.L - Expense Ratio Comparison
AAPY.L has a 0.55% expense ratio, which is higher than QYLD.L's 0.45% expense ratio.
Dividends
AAPY.L vs. QYLD.L - Dividend Comparison
AAPY.L's dividend yield for the trailing twelve months is around 12.31%, more than QYLD.L's 11.85% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
AAPY.L IncomeShares Apple (AAPL) Options ETP | 12.31% | 10.77% | 1.08% | 0.00% |
QYLD.L Global X Nasdaq 100 Covered Call UCITS ETF USD (Dist) | 11.85% | 11.41% | 12.28% | 10.88% |
Frequently Asked Questions
AAPY.L and QYLD.L have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, QYLD.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
QYLD.L is cheaper with a 0.45% expense ratio, compared with 0.55% for AAPY.L.
AAPY.L is categorized as Derivative Income, while QYLD.L is Nasdaq-100. They also come from different issuers: Leverage Shares and Global X. Their fees differ too: 0.55% for AAPY.L and 0.45% for QYLD.L.
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