ETV vs. QYLD
Compare and contrast key facts about Eaton Vance Tax-Managed Buy-Write Opportunities Fund (ETV) and Global X NASDAQ 100 Covered Call ETF (QYLD).
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.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ETV or QYLD.
Key characteristics
ETV | QYLD | |
---|---|---|
YTD Return | 7.82% | 6.57% |
1Y Return | 13.99% | 19.44% |
3Y Return (Ann) | 3.41% | 4.71% |
5Y Return (Ann) | 6.28% | 7.26% |
10Y Return (Ann) | 8.41% | 7.61% |
Sharpe Ratio | 1.07 | 2.43 |
Daily Std Dev | 12.31% | 7.93% |
Max Drawdown | -52.11% | -24.89% |
Current Drawdown | -5.30% | 0.00% |
Correlation
The correlation between ETV and QYLD is 0.55, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
ETV vs. QYLD - Performance Comparison
In the year-to-date period, ETV achieves a 7.82% return, which is significantly higher than QYLD's 6.57% return. Over the past 10 years, ETV has outperformed QYLD with an annualized return of 8.41%, while QYLD has yielded a comparatively lower 7.61% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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Risk-Adjusted Performance
ETV vs. QYLD - Risk-Adjusted Performance 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.
Sharpe ratio | Sortino ratio | Omega ratio | Calmar ratio | Ulcer Index | |
---|---|---|---|---|---|
Eaton Vance Tax-Managed Buy-Write Opportunities Fund | 1.07 | ||||
Global X NASDAQ 100 Covered Call ETF | 2.43 |
Dividends
ETV vs. QYLD - Dividend Comparison
ETV's dividend yield for the trailing twelve months is around 8.76%, less than QYLD's 11.55% yield.
TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Eaton Vance Tax-Managed Buy-Write Opportunities Fund | 8.76% | 9.24% | 10.57% | 7.94% | 8.66% | 8.89% | 9.86% | 8.65% | 8.96% | 8.69% | 9.46% | 9.49% |
Global X NASDAQ 100 Covered Call ETF | 11.55% | 11.78% | 13.26% | 12.85% | 11.16% | 9.84% | 12.44% | 7.69% | 9.15% | 9.42% | 10.74% | 0.00% |
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 -24.89%. The drawdown chart below compares losses from any high point along the way for ETV and QYLD
Volatility
ETV vs. QYLD - Volatility Comparison
Eaton Vance Tax-Managed Buy-Write Opportunities Fund (ETV) has a higher volatility of 2.94% compared to Global X NASDAQ 100 Covered Call ETF (QYLD) at 1.59%. This indicates that ETV'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.