BITS vs. QYLD
BITS (Global X Blockchain & Bitcoin Strategy ETF) and QYLD (Global X NASDAQ 100 Covered Call ETF) are both exchange-traded funds - BITS is a Cryptocurrency fund tracking the NONE, while QYLD is a Nasdaq-100 fund tracking the CBOE NASDAQ-100 Buy Write V2. Both are passively managed. Over the past 3 years, BITS returned 31.46%/yr vs 12.32%/yr for QYLD. Their 0.53 correlation means they have sometimes moved together and sometimes differently. BITS charges 0.65%/yr vs 0.60%/yr for QYLD.
Performance
BITS vs. QYLD - Performance Comparison
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Returns By Period
In the year-to-date period, BITS achieves a -11.24% return, which is significantly lower than QYLD's 7.67% return.
BITS
- 1D
- -3.36%
- 1M
- -0.63%
- 6M
- -14.68%
- YTD
- -11.24%
- 1Y
- -9.04%
- 3Y*
- 31.46%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -2.25%
QYLD
- 1D
- 0.65%
- 1M
- -0.98%
- 6M
- 5.88%
- YTD
- 7.67%
- 1Y
- 20.66%
- 3Y*
- 12.32%
- 5Y*
- 7.83%
- 10Y*
- 9.59%
- ALL TIME*
- 8.57%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $89.94K | $81.82K | $170.18K | |
| $83.30M | $78.68M | $98.28M |
BITS vs. QYLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BITS Global X Blockchain & Bitcoin Strategy ETF | -11.24% | 14.90% | 61.84% | 212.23% | -75.46% | -28.96% |
QYLD Global X NASDAQ 100 Covered Call ETF | 7.67% | 9.28% | 19.35% | 22.77% | -19.08% | -0.04% |
Correlation
The correlation between BITS and QYLD is 0.57, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.57 |
Correlation (3Y) Balances recent behavior with more history. | 0.47 |
Correlation (All Time) Calculated using the full available price history since Nov 16, 2021 | 0.53 |
The correlation between BITS and QYLD has been stable across timeframes, ranging from 0.47 to 0.57 - a consistent structural relationship.
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Return for Risk
BITS vs. QYLD — Risk / Return Rank
BITS
QYLD
BITS vs. QYLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Blockchain & Bitcoin Strategy ETF (BITS) and Global X NASDAQ 100 Covered Call ETF (QYLD). 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.
| BITS | QYLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.00 | ||
| Sortino ratioReturn per unit of downside risk | -2.51 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.35 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | -0.30 | 3.38 | -3.68 |
| Martin ratioReturn relative to average drawdown | -0.49 | 15.70 | -16.20 |
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Drawdowns
BITS vs. QYLD - Drawdown Comparison
The maximum BITS drawdown since its inception was -83.11%, which is greater than QYLD's maximum drawdown of -24.75%. Use the drawdown chart below to compare losses from any high point for BITS and QYLD.
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Drawdown Indicators
| BITS | QYLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.11% | -24.75% | -58.36% |
Max Drawdown (1Y)Largest decline over 1 year | -48.38% | -5.78% | -42.60% |
Max Drawdown (3Y)Largest decline over 3 years | -48.38% | -19.06% | -29.32% |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.61% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.75% | — |
Current DrawdownCurrent decline from peak | -41.56% | -2.96% | -38.60% |
Average DrawdownAverage peak-to-trough decline | -42.56% | -3.81% | -38.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.76% | 1.24% | +28.52% |
Volatility
BITS vs. QYLD - Volatility Comparison
Global X Blockchain & Bitcoin Strategy ETF (BITS) has a higher volatility of 14.95% compared to Global X NASDAQ 100 Covered Call ETF (QYLD) at 5.19%. This indicates that BITS's price experiences larger fluctuations and is considered to be riskier than QYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BITS | QYLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.95% | 5.19% | +9.76% |
Volatility (6M)Calculated over the trailing 6-month period | 40.75% | 10.04% | +30.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.36% | 11.26% | +43.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.62% | 15.04% | +45.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 60.62% | 15.63% | +44.99% |
BITS vs. QYLD - Expense Ratio Comparison
BITS has a 0.65% expense ratio, which is higher than QYLD's 0.60% expense ratio.
Dividends
BITS vs. QYLD - Dividend Comparison
BITS's dividend yield for the trailing twelve months is around 25.64%, more than QYLD's 11.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BITS Global X Blockchain & Bitcoin Strategy ETF | 25.64% | 22.80% | 29.49% | 13.69% | 0.48% | 1.90% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QYLD Global X NASDAQ 100 Covered Call ETF | 11.89% | 11.55% | 12.50% | 11.78% | 13.75% | 12.85% | 11.16% | 9.84% | 12.44% | 7.69% | 9.15% | 9.42% |
Frequently Asked Questions
BITS and QYLD have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITS has higher volatility (14.95%) compared to QYLD (5.19%). In terms of maximum drawdown, BITS dropped -83.11% vs QYLD's -24.75%.
On 3-year performance, BITS leads with 31.46% vs 12.32% for QYLD. On fees, QYLD is cheaper at 0.60% per year. On volatility, QYLD has been the lower-risk option at 5.19%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BITS has performed better with a 31.46% return vs 12.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QYLD is cheaper with a 0.60% expense ratio, compared with 0.65% for BITS.
BITS has the higher dividend yield at 25.64%, compared with 11.89% for QYLD.
BITS is categorized as Cryptocurrency, while QYLD is Nasdaq-100. BITS tracks NONE, while QYLD tracks CBOE NASDAQ-100 Buy Write V2. Their fees differ too: 0.65% for BITS and 0.60% for QYLD.
QYLD currently has the higher Sharpe Ratio (1.73 vs -0.27), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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