CLIP vs. QYLD
Compare and contrast key facts about Global X 1-3 Month T-Bill ETF (CLIP) and Global X NASDAQ 100 Covered Call ETF (QYLD).
CLIP and QYLD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CLIP is a passively managed fund by Global X that tracks the performance of the Solactive 1-3 month US T-Bill Index - USD. It was launched on Jun 20, 2023. QYLD is a passively managed fund by Global X that tracks the performance of the CBOE NASDAQ-100 Buy Write V2. It was launched on Dec 12, 2013. Both CLIP and QYLD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
CLIP vs. QYLD - Performance Comparison
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CLIP vs. QYLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CLIP Global X 1-3 Month T-Bill ETF | 0.88% | 4.23% | 5.26% | 2.82% |
QYLD Global X NASDAQ 100 Covered Call ETF | 0.61% | 9.28% | 19.35% | 5.36% |
Returns By Period
In the year-to-date period, CLIP achieves a 0.88% return, which is significantly higher than QYLD's 0.61% return.
CLIP
- 1D
- 0.02%
- 1M
- 0.30%
- YTD
- 0.88%
- 6M
- 1.88%
- 1Y
- 4.06%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QYLD
- 1D
- 0.58%
- 1M
- -1.11%
- YTD
- 0.61%
- 6M
- 7.46%
- 1Y
- 16.36%
- 3Y*
- 13.19%
- 5Y*
- 7.01%
- 10Y*
- 8.96%
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CLIP vs. QYLD - Expense Ratio Comparison
CLIP has a 0.07% expense ratio, which is lower than QYLD's 0.60% expense ratio.
Return for Risk
CLIP vs. QYLD — Risk / Return Rank
CLIP
QYLD
CLIP vs. QYLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X 1-3 Month T-Bill ETF (CLIP) 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.
| CLIP | QYLD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 13.66 | 1.00 | +12.66 |
Sortino ratioReturn per unit of downside risk | 40.88 | 1.61 | +39.26 |
Omega ratioGain probability vs. loss probability | 11.15 | 1.31 | +9.84 |
Calmar ratioReturn relative to maximum drawdown | 73.93 | 1.57 | +72.36 |
Martin ratioReturn relative to average drawdown | 600.01 | 10.32 | +589.68 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CLIP | QYLD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 13.66 | 1.00 | +12.66 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.47 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.58 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 10.60 | 0.56 | +10.05 |
Correlation
The correlation between CLIP and QYLD is -0.01. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
CLIP vs. QYLD - Dividend Comparison
CLIP's dividend yield for the trailing twelve months is around 4.00%, less than QYLD's 11.85% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CLIP Global X 1-3 Month T-Bill ETF | 4.00% | 4.14% | 5.11% | 2.75% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QYLD Global X NASDAQ 100 Covered Call ETF | 11.85% | 11.55% | 12.50% | 11.78% | 13.75% | 12.85% | 11.16% | 9.84% | 12.44% | 7.69% | 9.15% | 9.42% |
Drawdowns
CLIP vs. QYLD - Drawdown Comparison
The maximum CLIP drawdown since its inception was -0.08%, smaller than the maximum QYLD drawdown of -24.75%. Use the drawdown chart below to compare losses from any high point for CLIP and QYLD.
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Drawdown Indicators
| CLIP | QYLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.08% | -24.75% | +24.67% |
Max Drawdown (1Y)Largest decline over 1 year | -0.05% | -10.84% | +10.79% |
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 | 0.00% | -1.84% | +1.84% |
Average DrawdownAverage peak-to-trough decline | 0.00% | -3.89% | +3.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 1.65% | -1.64% |
Volatility
CLIP vs. QYLD - Volatility Comparison
The current volatility for Global X 1-3 Month T-Bill ETF (CLIP) is 0.05%, while Global X NASDAQ 100 Covered Call ETF (QYLD) has a volatility of 4.90%. This indicates that CLIP 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.
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Volatility by Period
| CLIP | QYLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.05% | 4.90% | -4.85% |
Volatility (6M)Calculated over the trailing 6-month period | 0.15% | 7.50% | -7.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.30% | 16.43% | -16.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.45% | 14.84% | -14.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.45% | 15.51% | -15.06% |