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GLDI vs. QYLD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

GLDI vs. QYLD

Last updated Jun 4, 2026

GLDI (Credit Suisse X-Links Gold Shares Covered Call ETN) and QYLD (Global X NASDAQ 100 Covered Call ETF) are both exchange-traded funds - GLDI is a Precious Metals fund tracking the Credit Suisse NASDAQ Gold FLOWS 103 Index, while QYLD is a Nasdaq-100 fund tracking the CBOE NASDAQ-100 Buy Write V2. Both are passively managed. Over the past 10 years, GLDI returned 8.99%/yr vs 9.80%/yr for QYLD. At a 0.03 correlation, their price movements are largely independent. GLDI charges 0.65%/yr vs 0.60%/yr for QYLD.

Performance

GLDI vs. QYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Credit Suisse X-Links Gold Shares Covered Call ETN (GLDI) and Global X NASDAQ 100 Covered Call ETF (QYLD). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, GLDI achieves a 2.06% return, which is significantly lower than QYLD's 7.88% return. Over the past 10 years, GLDI has underperformed QYLD with an annualized return of 8.99%, while QYLD has yielded a comparatively higher 9.80% annualized return.

GLDI

1D
-0.81%
1M
0.90%
YTD
2.06%
6M
4.42%
1Y
21.23%
3Y*
19.54%
5Y*
11.15%
10Y*
8.99%

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)

GLDI vs. QYLD - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
GLDI
Credit Suisse X-Links Gold Shares Covered Call ETN		2.06%34.25%17.76%8.93%-1.11%-3.42%23.50%14.40%-0.54%8.94%
QYLD
Global X NASDAQ 100 Covered Call ETF		7.88%9.28%19.35%22.77%-19.08%10.41%8.72%22.69%-3.07%18.79%

Correlation

The correlation between GLDI and QYLD is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.23

Correlation (3Y)
Calculated over the trailing 3-year period

0.14

Correlation (5Y)
Calculated over the trailing 5-year period

0.11

Correlation (10Y)
Calculated over the trailing 10-year period

0.06

Correlation (All Time)
Calculated using the full available price history since Dec 13, 2013

0.03

Over the past year, GLDI and QYLD have become more correlated (0.23) than their long-term average of 0.03, meaning their price movements have been converging.

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Credit Suisse X-Links Gold Shares Covered Call ETN

Global X NASDAQ 100 Covered Call ETF

Often compared with GLDI:
GLDI vs. IGLDGLDI vs. GLDGLDI vs. SCHDGLDI vs. GLDYGLDI vs. GLDW.LGLDI vs. BGLDGLDI vs. JEPQ
Often compared with QYLD:
QYLD vs. JEPQQYLD vs. JEPIQYLD vs. QQQQYLD vs. XYLDQYLD vs. RYLDQYLD vs. SCHDQYLD vs. QYLG

Return for Risk

GLDI vs. QYLD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
GLDI
GLDI Risk / Return Rank: 3838
Overall Rank
GLDI Sharpe Ratio Rank: 4040
Sharpe Ratio Rank
GLDI Sortino Ratio Rank: 3535
Sortino Ratio Rank
GLDI Omega Ratio Rank: 4747
Omega Ratio Rank
GLDI Calmar Ratio Rank: 3131
Calmar Ratio Rank
GLDI Martin Ratio Rank: 3838
Martin Ratio Rank
QYLD
QYLD Risk / Return Rank: 8888
Overall Rank
QYLD Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
QYLD Sortino Ratio Rank: 8585
Sortino Ratio Rank
QYLD Omega Ratio Rank: 9292
Omega Ratio Rank
QYLD Calmar Ratio Rank: 8686
Calmar Ratio Rank
QYLD Martin Ratio Rank: 9494
Martin Ratio Rank
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.

GLDI vs. QYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Credit Suisse X-Links Gold Shares Covered Call ETN (GLDI) 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.

GLDIQYLDDifference
Sharpe ratioReturn per unit of total volatility
1.46
2.80

-1.34

Sortino ratioReturn per unit of downside risk
1.90
3.92

-2.02

Omega ratioGain probability vs. loss probability

1.30

1.63

-0.33

Calmar ratioReturn relative to maximum drawdown

1.55

4.84

-3.28

Martin ratioReturn relative to average drawdown

6.07

28.36

-22.29

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GLDI vs. QYLD - Sharpe Ratio Comparison

The current GLDI Sharpe Ratio is 1.46, which is lower than the QYLD Sharpe Ratio of 2.80. The chart below compares the historical Sharpe Ratios of GLDI 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.

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Sharpe Ratios by Period

GLDIQYLDDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.46

2.80

-1.34

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.99

0.58

+0.41

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.79

0.63

+0.16

Sharpe Ratio (All Time)

Calculated using the full available price history

0.37

0.59

-0.22

Drawdowns

GLDI vs. QYLD - Drawdown Comparison

The maximum GLDI drawdown since its inception was -32.26%, which is greater than QYLD's maximum drawdown of -24.75%. Use the drawdown chart below to compare losses from any high point for GLDI and QYLD.

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Drawdown Indicators

GLDIQYLDDifference

Max Drawdown

Largest peak-to-trough decline

-32.26%

-24.75%

-7.51%

Max Drawdown (1Y)

Largest decline over 1 year

-13.73%

-4.97%

-8.76%

Max Drawdown (3Y)

Largest decline over 3 years

-13.73%

-19.06%

+5.33%

Max Drawdown (5Y)

Largest decline over 5 years

-14.07%

-24.61%

+10.54%

Max Drawdown (10Y)

Largest decline over 10 years

-14.94%

-24.75%

+9.81%

Current Drawdown

Current decline from peak

-7.37%

-0.06%

-7.31%

Average Drawdown

Average peak-to-trough decline

-14.00%

-3.84%

-10.16%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.50%

0.85%

+2.65%

Volatility

GLDI vs. QYLD - Volatility Comparison

Credit Suisse X-Links Gold Shares Covered Call ETN (GLDI) has a higher volatility of 3.88% compared to Global X NASDAQ 100 Covered Call ETF (QYLD) at 1.85%. This indicates that GLDI'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.

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Volatility by Period

GLDIQYLDDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.88%

1.85%

+2.03%

Volatility (6M)

Calculated over the trailing 6-month period

12.87%

7.12%

+5.75%

Volatility (1Y)

Calculated over the trailing 1-year period

14.57%

8.58%

+5.99%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.31%

14.70%

-3.39%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

11.35%

15.49%

-4.14%

GLDI vs. QYLD - Expense Ratio Comparison

GLDI has a 0.65% expense ratio, which is higher than QYLD's 0.60% expense ratio.

Dividends

GLDI vs. QYLD - Dividend Comparison

GLDI's dividend yield for the trailing twelve months is around 22.37%, more than QYLD's 11.46% yield.

PositionTTM20252024202320222021202020192018201720162015
GLDI
Credit Suisse X-Links Gold Shares Covered Call ETN		22.37%16.15%10.45%10.02%13.73%10.65%14.25%7.25%5.33%7.77%17.26%10.07%
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

GLDI and QYLD have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

GLDI has higher volatility (3.88%) compared to QYLD (1.85%). In terms of maximum drawdown, GLDI dropped -32.26% vs QYLD's -24.75%.

On 10-year performance, QYLD leads with 9.80% vs 8.99% for GLDI. On fees, QYLD is cheaper at 0.60% 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.

Over the 10-year period, QYLD has performed better with a 9.80% return vs 8.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

QYLD is cheaper with a 0.60% expense ratio, compared with 0.65% for GLDI.

GLDI has the higher dividend yield at 22.37%, compared with 11.46% for QYLD.

GLDI is categorized as Precious Metals, while QYLD is Nasdaq-100. GLDI tracks Credit Suisse NASDAQ Gold FLOWS 103 Index, while QYLD tracks CBOE NASDAQ-100 Buy Write V2. They also come from different issuers: Credit Suisse and Global X. Their fees differ too: 0.65% for GLDI and 0.60% for QYLD.

QYLD currently has the higher Sharpe Ratio (2.80 vs 1.46), 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.

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