FLAG vs. QYLD

Last updated Jun 4, 2026

FLAG (Global X S&P 500 U.S. Market Leaders TOP 50 ETF) and QYLD (Global X NASDAQ 100 Covered Call ETF) are both exchange-traded funds - FLAG is a Large Cap Blend Equities fund tracking the S&P 500 U.S. Revenue Market Leaders 50 Index, while QYLD is a Nasdaq-100 fund tracking the CBOE NASDAQ-100 Buy Write V2. Both are passively managed. Over the past year, FLAG returned 7.89% vs 23.93% for QYLD. A 0.55 correlation means they provide meaningful diversification when combined. FLAG charges 0.29%/yr vs 0.60%/yr for QYLD.

Performance

FLAG vs. QYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X S&P 500 U.S. Market Leaders TOP 50 ETF (FLAG) 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, FLAG achieves a -0.18% return, which is significantly lower than QYLD's 7.88% return.

FLAG

• 1D: -0.68%
• 1M: 0.74%
• YTD: -0.18%
• 6M: 0.08%
• 1Y: 7.89%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QYLD

• 1D: -0.06%
• 1M: 1.62%
• YTD: 7.88%
• 6M: 9.97%
• 1Y: 23.93%
• 3Y*: 13.80%
• 5Y*: 8.43%
• 10Y*: 9.80%

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

FLAG vs. QYLD - Yearly Performance Comparison

	2026 (YTD)	2025
FLAG Global X S&P 500 U.S. Market Leaders TOP 50 ETF	-0.18%	13.67%
QYLD Global X NASDAQ 100 Covered Call ETF	7.88%	20.94%

Correlation

The correlation between FLAG and QYLD is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.54
Correlation (All Time) Calculated using the full available price history since Apr 17, 2025	0.55

The correlation between FLAG and QYLD has been stable across timeframes, ranging from 0.54 to 0.55 - a consistent structural relationship.

Return for Risk

FLAG vs. QYLD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FLAG

FLAG Risk / Return Rank: 22
FLAG Sharpe Ratio Rank: 23
FLAG Sortino Ratio Rank: 22
FLAG Omega Ratio Rank: 21
FLAG Calmar Ratio Rank: 21
FLAG Martin Ratio Rank: 24

QYLD

QYLD Risk / Return Rank: 88
QYLD Sharpe Ratio Rank: 84
QYLD Sortino Ratio Rank: 85
QYLD Omega Ratio Rank: 92
QYLD Calmar Ratio Rank: 86
QYLD Martin Ratio Rank: 94

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FLAG vs. QYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X S&P 500 U.S. Market Leaders TOP 50 ETF (FLAG) 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.

	FLAG	QYLD	Difference
Sharpe ratio: Return per unit of total volatility	0.75	2.80	-2.06
Sortino ratio: Return per unit of downside risk	1.14	3.92	-2.78
Omega ratio: Gain probability vs. loss probability	1.13	1.63	-0.50
Calmar ratio: Return relative to maximum drawdown	0.85	4.84	-3.98
Martin ratio: Return relative to average drawdown	2.92	28.36	-25.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FLAG vs. QYLD - Sharpe Ratio Comparison

The current FLAG Sharpe Ratio is 0.75, which is lower than the QYLD Sharpe Ratio of 2.80. The chart below compares the historical Sharpe Ratios of FLAG 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.

Sharpe Ratios by Period

	FLAG	QYLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.75	2.80	-2.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.58	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.63	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.05	0.59	+0.46

Drawdowns

FLAG vs. QYLD - Drawdown Comparison

The maximum FLAG drawdown since its inception was -9.29%, smaller than the maximum QYLD drawdown of -24.75%. Use the drawdown chart below to compare losses from any high point for FLAG and QYLD.

Drawdown Indicators

	FLAG	QYLD	Difference
Max Drawdown Largest peak-to-trough decline	-9.29%	-24.75%	+15.46%
Max Drawdown (1Y) Largest decline over 1 year	-9.29%	-4.97%	-4.32%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.06%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.61%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-24.75%	—
Current Drawdown Current decline from peak	-2.00%	-0.06%	-1.94%
Average Drawdown Average peak-to-trough decline	-1.85%	-3.84%	+1.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.71%	0.85%	+1.86%

Volatility

FLAG vs. QYLD - Volatility Comparison

Global X S&P 500 U.S. Market Leaders TOP 50 ETF (FLAG) has a higher volatility of 2.70% compared to Global X NASDAQ 100 Covered Call ETF (QYLD) at 1.85%. This indicates that FLAG'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.

Volatility by Period

	FLAG	QYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.70%	1.85%	+0.85%
Volatility (6M) Calculated over the trailing 6-month period	7.87%	7.12%	+0.75%
Volatility (1Y) Calculated over the trailing 1-year period	10.63%	8.58%	+2.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.32%	14.70%	-3.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.32%	15.49%	-4.17%

FLAG vs. QYLD - Expense Ratio Comparison

FLAG has a 0.29% expense ratio, which is lower than QYLD's 0.60% expense ratio.

Dividends

FLAG vs. QYLD - Dividend Comparison

FLAG's dividend yield for the trailing twelve months is around 1.35%, less than QYLD's 11.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FLAG Global X S&P 500 U.S. Market Leaders TOP 50 ETF	1.35%	1.35%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QYLD Global X NASDAQ 100 Covered Call ETF	11.46%	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 FLAG and QYLD in my portfolio?

FLAG and QYLD have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLAG or QYLD?

FLAG has higher volatility (2.70%) compared to QYLD (1.85%). In terms of maximum drawdown, FLAG dropped -9.29% vs QYLD's -24.75%.

Which ETF is better, FLAG or QYLD?

On 1-year performance, QYLD leads with 23.93% vs 7.89% for FLAG. On fees, FLAG is cheaper at 0.29% per year. On volatility, QYLD has been the lower-risk option at 1.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLAG or QYLD?

Over the 1-year period, QYLD has performed better with a 23.93% return vs 7.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLAG or QYLD?

FLAG is cheaper with a 0.29% expense ratio, compared with 0.60% for QYLD.

Which ETF pays a higher dividend yield, FLAG or QYLD?

QYLD has the higher dividend yield at 11.46%, compared with 1.35% for FLAG.

What is the main difference between FLAG and QYLD?

FLAG is categorized as Large Cap Blend Equities, while QYLD is Nasdaq-100. FLAG tracks S&P 500 U.S. Revenue Market Leaders 50 Index, while QYLD tracks CBOE NASDAQ-100 Buy Write V2. Their fees differ too: 0.29% for FLAG and 0.60% for QYLD.

Which has better risk-adjusted returns?

QYLD currently has the higher Sharpe Ratio (2.80 vs 0.75), 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.