FTQI vs. XYLD

Last updated Jun 5, 2026

FTQI (First Trust Nasdaq BuyWrite Income ETF) and XYLD (Global X S&P 500 Covered Call ETF) are both exchange-traded funds - FTQI is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while XYLD is a Derivative Income fund tracking the Cboe S&P 500 BuyWrite Index. Both are passively managed. Over the past 10 years, FTQI returned 8.00%/yr vs 8.23%/yr for XYLD. A 0.57 correlation means they provide meaningful diversification when combined. FTQI charges 0.75%/yr vs 0.60%/yr for XYLD.

Performance

FTQI vs. XYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Nasdaq BuyWrite Income ETF (FTQI) and Global X S&P 500 Covered Call ETF (XYLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTQI achieves a 11.03% return, which is significantly higher than XYLD's 5.14% return. Both investments have delivered pretty close results over the past 10 years, with FTQI having a 8.00% annualized return and XYLD not far ahead at 8.23%.

FTQI

• 1D: 0.23%
• 1M: 4.05%
• YTD: 11.03%
• 6M: 11.53%
• 1Y: 28.07%
• 3Y*: 17.30%
• 5Y*: 10.97%
• 10Y*: 8.00%

XYLD

• 1D: 0.17%
• 1M: 1.87%
• YTD: 5.14%
• 6M: 6.53%
• 1Y: 17.83%
• 3Y*: 11.29%
• 5Y*: 7.76%
• 10Y*: 8.23%

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

FTQI vs. XYLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FTQI First Trust Nasdaq BuyWrite Income ETF	11.03%	12.68%	18.30%	23.63%	-8.77%	10.46%	-6.54%	13.98%	-9.78%	12.47%
XYLD Global X S&P 500 Covered Call ETF	5.14%	8.02%	19.49%	11.10%	-12.05%	19.59%	-0.56%	21.41%	-6.09%	16.49%

Correlation

The correlation between FTQI and XYLD is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (10Y) Calculated over the trailing 10-year period	0.62
Correlation (All Time) Calculated using the full available price history since Jan 8, 2014	0.57

Over the past year, FTQI and XYLD have become more correlated (0.84) than their long-term average of 0.57, meaning their price movements have been converging.

FTQI vs. XYLD - Sectors Allocation Comparison

Sectors	FTQI	XYLD
Technology	35.5%	35.6%
Financial Services	13.3%	11.8%
Consumer Cyclical	8.4%	10.2%
Healthcare	8.4%	8.5%
Energy	7.4%	3.5%
Industrials	7.4%	8.3%
Consumer Defensive	5.9%	4.9%
Basic Materials	3.9%	1.8%
Utilities	3.9%	2.3%
Communication Services	3.4%	11.2%
Real Estate	2.0%	1.9%

Return for Risk

FTQI vs. XYLD — Risk / Return Rank

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

FTQI

FTQI Risk / Return Rank: 86
FTQI Sharpe Ratio Rank: 85
FTQI Sortino Ratio Rank: 85
FTQI Omega Ratio Rank: 86
FTQI Calmar Ratio Rank: 84
FTQI Martin Ratio Rank: 91

XYLD

XYLD Risk / Return Rank: 84
XYLD Sharpe Ratio Rank: 84
XYLD Sortino Ratio Rank: 87
XYLD Omega Ratio Rank: 93
XYLD Calmar Ratio Rank: 69
XYLD Martin Ratio Rank: 86

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.

FTQI vs. XYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Nasdaq BuyWrite Income ETF (FTQI) and Global X S&P 500 Covered Call ETF (XYLD). 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.

	FTQI	XYLD	Difference
Sharpe ratio: Return per unit of total volatility	2.73	2.74	-0.01
Sortino ratio: Return per unit of downside risk	3.76	3.90	-0.15
Omega ratio: Gain probability vs. loss probability	1.52	1.65	-0.13
Calmar ratio: Return relative to maximum drawdown	4.52	3.39	+1.13
Martin ratio: Return relative to average drawdown	21.94	18.02	+3.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FTQI vs. XYLD - Sharpe Ratio Comparison

The current FTQI Sharpe Ratio is 2.73, which is comparable to the XYLD Sharpe Ratio of 2.74. The chart below compares the historical Sharpe Ratios of FTQI and XYLD, 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

	FTQI	XYLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.73	2.74	-0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.74	0.69	+0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.60	0.58	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.60	-0.08

Drawdowns

FTQI vs. XYLD - Drawdown Comparison

The maximum FTQI drawdown since its inception was -19.42%, smaller than the maximum XYLD drawdown of -33.46%. Use the drawdown chart below to compare losses from any high point for FTQI and XYLD.

Drawdown Indicators

	FTQI	XYLD	Difference
Max Drawdown Largest peak-to-trough decline	-19.42%	-33.46%	+14.04%
Max Drawdown (1Y) Largest decline over 1 year	-6.24%	-5.29%	-0.95%
Max Drawdown (3Y) Largest decline over 3 years	-19.42%	-15.53%	-3.89%
Max Drawdown (5Y) Largest decline over 5 years	-19.42%	-18.66%	-0.76%
Max Drawdown (10Y) Largest decline over 10 years	-19.42%	-33.46%	+14.04%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.75%	-3.72%	-0.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.28%	0.99%	+0.29%

Volatility

FTQI vs. XYLD - Volatility Comparison

First Trust Nasdaq BuyWrite Income ETF (FTQI) has a higher volatility of 1.66% compared to Global X S&P 500 Covered Call ETF (XYLD) at 0.85%. This indicates that FTQI's price experiences larger fluctuations and is considered to be riskier than XYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTQI	XYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.66%	0.85%	+0.81%
Volatility (6M) Calculated over the trailing 6-month period	8.24%	5.37%	+2.87%
Volatility (1Y) Calculated over the trailing 1-year period	10.33%	6.54%	+3.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.81%	11.22%	+3.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.35%	14.21%	-0.86%

FTQI vs. XYLD - Expense Ratio Comparison

FTQI has a 0.75% expense ratio, which is higher than XYLD's 0.60% expense ratio.

Dividends

FTQI vs. XYLD - Dividend Comparison

FTQI's dividend yield for the trailing twelve months is around 10.94%, more than XYLD's 10.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTQI First Trust Nasdaq BuyWrite Income ETF	10.94%	11.46%	11.66%	11.49%	9.85%	3.05%	3.27%	2.95%	3.27%	2.74%	3.02%	3.54%
XYLD Global X S&P 500 Covered Call ETF	10.50%	10.51%	11.54%	10.51%	13.43%	9.07%	7.93%	5.76%	7.12%	5.18%	3.23%	4.65%

Frequently Asked Questions

Can I hold both FTQI and XYLD in my portfolio?

FTQI and XYLD have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FTQI or XYLD?

FTQI has higher volatility (1.66%) compared to XYLD (0.85%). In terms of maximum drawdown, FTQI dropped -19.42% vs XYLD's -33.46%.

Which ETF is better, FTQI or XYLD?

On 10-year performance, XYLD leads with 8.23% vs 8.00% for FTQI. On fees, XYLD is cheaper at 0.60% per year. On volatility, XYLD has been the lower-risk option at 0.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FTQI or XYLD?

Over the 10-year period, XYLD has performed better with a 8.23% return vs 8.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FTQI or XYLD?

XYLD is cheaper with a 0.60% expense ratio, compared with 0.75% for FTQI.

Which ETF pays a higher dividend yield, FTQI or XYLD?

FTQI has the higher dividend yield at 10.94%, compared with 10.50% for XYLD.

What is the main difference between FTQI and XYLD?

FTQI is categorized as Nasdaq-100, while XYLD is Derivative Income. FTQI tracks NASDAQ-100 Index, while XYLD tracks Cboe S&P 500 BuyWrite Index. They also come from different issuers: First Trust and Global X. Their fees differ too: 0.75% for FTQI and 0.60% for XYLD.

Which has better risk-adjusted returns?

XYLD currently has the higher Sharpe Ratio (2.74 vs 2.73), 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.