ETV vs. QYLD
ETV (Eaton Vance Tax-Managed Buy-Write Opportunities Fund) is a stock, while QYLD (Global X NASDAQ 100 Covered Call ETF) is Nasdaq-100 fund tracking the CBOE NASDAQ-100 Buy Write V2. ETV is actively managed, while QYLD is passively managed. Over the past 10 years, ETV returned 9.27%/yr vs 9.59%/yr for QYLD. Their 0.58 correlation means they have sometimes moved together and sometimes differently. ETV charges 1.08%/yr vs 0.60%/yr for QYLD.
Performance
ETV vs. QYLD - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ETV achieves a 7.08% return, which is significantly lower than QYLD's 7.67% return. Both investments have delivered pretty close results over the past 10 years, with ETV having a 9.27% annualized return and QYLD not far ahead at 9.59%.
ETV
- 1D
- 0.76%
- 1M
- -1.75%
- 6M
- 4.24%
- YTD
- 7.08%
- 1Y
- 16.92%
- 3Y*
- 12.83%
- 5Y*
- 6.62%
- 10Y*
- 9.27%
- ALL TIME*
- 8.70%
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) |
|---|---|---|---|
| $2.10M | $2.19M | $2.41M | |
| $83.30M | $78.68M | $98.28M |
ETV vs. QYLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ETV Eaton Vance Tax-Managed Buy-Write Opportunities Fund | 7.08% | 8.63% | 27.67% | 9.94% | -19.73% | 18.41% | 13.03% | 21.25% | -4.29% | 12.98% |
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 ETV and QYLD is 0.69, 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. | 0.69 |
Correlation (3Y) Balances recent behavior with more history. | 0.67 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.69 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.61 |
Correlation (All Time) Calculated using the full available price history since Dec 12, 2013 | 0.58 |
The correlation between ETV and QYLD shifts across timeframes, from 0.58 (all time) to 0.69 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ETV vs. QYLD — Risk / Return Rank
ETV
QYLD
ETV vs. QYLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Tax-Managed Buy-Write Opportunities Fund (ETV) 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.
| ETV | QYLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.56 | ||
| Sortino ratioReturn per unit of downside risk | -0.77 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.35 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.50 | 3.38 | -1.87 |
| Martin ratioReturn relative to average drawdown | 7.19 | 15.70 | -8.51 |
Loading charts...
Drawdowns
ETV vs. QYLD - Drawdown Comparison
The maximum ETV drawdown since its inception was -52.11%, which is greater than QYLD's maximum drawdown of -24.75%. Use the drawdown chart below to compare losses from any high point for ETV and QYLD.
Loading charts...
Drawdown Indicators
| ETV | QYLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.11% | -24.75% | -27.36% |
Max Drawdown (1Y)Largest decline over 1 year | -10.34% | -5.78% | -4.56% |
Max Drawdown (3Y)Largest decline over 3 years | -20.27% | -19.06% | -1.21% |
Max Drawdown (5Y)Largest decline over 5 years | -22.71% | -24.61% | +1.90% |
Max Drawdown (10Y)Largest decline over 10 years | -42.39% | -24.75% | -17.64% |
Current DrawdownCurrent decline from peak | -3.23% | -2.96% | -0.27% |
Average DrawdownAverage peak-to-trough decline | -5.55% | -3.81% | -1.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.16% | 1.24% | +0.92% |
Volatility
ETV vs. QYLD - Volatility Comparison
The current volatility for Eaton Vance Tax-Managed Buy-Write Opportunities Fund (ETV) is 4.67%, while Global X NASDAQ 100 Covered Call ETF (QYLD) has a volatility of 5.19%. This indicates that ETV 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.
Loading charts...
Volatility by Period
| ETV | QYLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.67% | 5.19% | -0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 10.88% | 10.04% | +0.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.22% | 11.26% | +1.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.00% | 15.04% | +1.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.32% | 15.63% | +3.69% |
ETV vs. QYLD - Expense Ratio Comparison
ETV has a 1.08% expense ratio, which is higher than QYLD's 0.60% expense ratio.
Dividends
ETV vs. QYLD - Dividend Comparison
ETV's dividend yield for the trailing twelve months is around 8.13%, less than QYLD's 11.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETV Eaton Vance Tax-Managed Buy-Write Opportunities Fund | 8.13% | 8.30% | 8.18% | 9.24% | 10.57% | 7.94% | 8.66% | 8.89% | 9.86% | 8.65% | 8.96% | 8.69% |
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
ETV and QYLD have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QYLD has higher volatility (5.19%) compared to ETV (4.67%). In terms of maximum drawdown, ETV dropped -52.11% vs QYLD's -24.75%.
QYLD currently has the higher Sharpe Ratio (1.73 vs 1.18), 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.
Find the right allocation for ETV and QYLD
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer