BLW vs. QYLD

Last updated Aug 1, 2026

BLW (BlackRock Limited Duration Income Trust) is a stock, while QYLD (Global X NASDAQ 100 Covered Call ETF) is Nasdaq-100 fund tracking the CBOE NASDAQ-100 Buy Write V2. Over the past 10 years, BLW returned 6.31%/yr vs 9.59%/yr for QYLD. Their 0.32 correlation means their historical movements had little consistent relationship.

Performance

BLW vs. QYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Limited Duration Income Trust (BLW) and Global X NASDAQ 100 Covered Call ETF (QYLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BLW achieves a -2.99% return, which is significantly lower than QYLD's 7.67% return. Over the past 10 years, BLW has underperformed QYLD with an annualized return of 6.31%, while QYLD has yielded a comparatively higher 9.59% annualized return.

BLW

• 1D: -0.16%
• 1M: 0.98%
• 6M: -3.78%
• YTD: -2.99%
• 1Y: -1.69%
• 3Y*: 8.29%
• 5Y*: 2.87%
• 10Y*: 6.31%
• ALL TIME*: 6.26%

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%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BLW BlackRock Limited Duration Income Trust	$1.19M	$2.30M	$1.94M
QYLD Global X NASDAQ 100 Covered Call ETF	$83.30M	$78.68M	$98.28M

BLW vs. QYLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BLW BlackRock Limited Duration Income Trust	-2.99%	7.17%	11.06%	17.29%	-15.92%	13.52%	5.36%	31.08%	-10.22%	11.53%
QYLD Global X NASDAQ 100 Covered Call ETF	7.67%	9.28%	19.35%	22.77%	-19.08%	10.41%	8.72%	22.69%	-3.07%	18.79%

Correlation

The correlation between BLW and QYLD is 0.36, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.36
Correlation (3Y) Balances recent behavior with more history.	0.28
Correlation (5Y) Shows whether the relationship held over a longer period.	0.37
Correlation (10Y) Provides a long-term view across more market conditions.	0.34
Correlation (All Time) Calculated using the full available price history since Dec 12, 2013	0.32

Return for Risk

BLW vs. QYLD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BLW

BLW Risk / Return Rank: 33
BLW Sharpe Ratio Rank: 35
BLW Sortino Ratio Rank: 27
BLW Omega Ratio Rank: 27
BLW Calmar Ratio Rank: 39
BLW Martin Ratio Rank: 37

QYLD

QYLD Risk / Return Rank: 83
QYLD Sharpe Ratio Rank: 77
QYLD Sortino Ratio Rank: 77
QYLD Omega Ratio Rank: 83
QYLD Calmar Ratio Rank: 86
QYLD Martin Ratio Rank: 92

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BLW vs. QYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Limited Duration Income Trust (BLW) 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.

	BLW	QYLD	Difference
Sharpe ratio: Return per unit of total volatility	-0.21	1.73	-1.94
Sortino ratio: Return per unit of downside risk	-0.23	2.48	-2.71
Omega ratio: Gain probability vs. loss probability	0.97	1.35	-0.38
Calmar ratio: Return relative to maximum drawdown	-0.15	3.38	-3.53
Martin ratio: Return relative to average drawdown	-0.39	15.70	-16.10

BLW vs. QYLD - Sharpe Ratio Comparison

The current BLW Sharpe Ratio is -0.21, which is lower than the QYLD Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of BLW and QYLD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BLW vs. QYLD - Drawdown Comparison

The maximum BLW drawdown since its inception was -44.13%, which is greater than QYLD's maximum drawdown of -24.75%. Use the drawdown chart below to compare losses from any high point for BLW and QYLD.

Drawdown Indicators

	BLW	QYLD	Difference
Max Drawdown Largest peak-to-trough decline	-44.13%	-24.75%	-19.38%
Max Drawdown (1Y) Largest decline over 1 year	-11.19%	-5.78%	-5.41%
Max Drawdown (3Y) Largest decline over 3 years	-11.19%	-19.06%	+7.87%
Max Drawdown (5Y) Largest decline over 5 years	-26.30%	-24.61%	-1.69%
Max Drawdown (10Y) Largest decline over 10 years	-41.85%	-24.75%	-17.10%
Current Drawdown Current decline from peak	-5.05%	-2.96%	-2.09%
Average Drawdown Average peak-to-trough decline	-6.04%	-3.81%	-2.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.29%	1.24%	+3.05%

Volatility

BLW vs. QYLD - Volatility Comparison

The current volatility for BlackRock Limited Duration Income Trust (BLW) is 2.01%, while Global X NASDAQ 100 Covered Call ETF (QYLD) has a volatility of 5.19%. This indicates that BLW experiences smaller price fluctuations and is considered to be less risky than QYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BLW	QYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.01%	5.19%	-3.18%
Volatility (6M) Calculated over the trailing 6-month period	7.23%	10.04%	-2.81%
Volatility (1Y) Calculated over the trailing 1-year period	8.19%	11.26%	-3.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.31%	15.04%	-2.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.58%	15.63%	-1.05%

Dividends

BLW vs. QYLD - Dividend Comparison

BLW's dividend yield for the trailing twelve months is around 10.83%, less than QYLD's 11.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BLW BlackRock Limited Duration Income Trust	10.83%	9.89%	9.39%	8.63%	8.26%	6.99%	7.39%	6.27%	7.14%	6.24%	9.68%	8.26%
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

Can I hold both BLW and QYLD in my portfolio?

BLW and QYLD have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BLW or QYLD?

QYLD has higher volatility (5.19%) compared to BLW (2.01%). In terms of maximum drawdown, BLW dropped -44.13% vs QYLD's -24.75%.

Which has better risk-adjusted returns?

QYLD currently has the higher Sharpe Ratio (1.73 vs -0.21), 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.