GOBSX vs. QYLD

Last updated Jun 23, 2026

GOBSX (BrandywineGLOBAL - Global Opportunities Bond Fund) and QYLD (Global X NASDAQ 100 Covered Call ETF) are both funds - GOBSX is a Global Bonds fund managed by Legg Mason, while QYLD is a Nasdaq-100 fund tracking the CBOE NASDAQ-100 Buy Write V2. Over the past 10 years, GOBSX returned 1.14%/yr vs 10.21%/yr for QYLD. At a 0.22 correlation, their price movements are largely independent. GOBSX charges 0.56%/yr vs 0.60%/yr for QYLD.

Performance

GOBSX vs. QYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BrandywineGLOBAL - Global Opportunities Bond Fund (GOBSX) 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, GOBSX achieves a 1.75% return, which is significantly lower than QYLD's 10.06% return. Over the past 10 years, GOBSX has underperformed QYLD with an annualized return of 1.14%, while QYLD has yielded a comparatively higher 10.21% annualized return.

GOBSX

• 1D: -0.44%
• 1M: 1.24%
• YTD: 1.75%
• 6M: 2.55%
• 1Y: 4.28%
• 3Y*: 2.62%
• 5Y*: -1.67%
• 10Y*: 1.14%

QYLD

• 1D: -0.13%
• 1M: 3.44%
• YTD: 10.06%
• 6M: 10.12%
• 1Y: 25.81%
• 3Y*: 14.74%
• 5Y*: 8.73%
• 10Y*: 10.21%

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

GOBSX vs. QYLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GOBSX BrandywineGLOBAL - Global Opportunities Bond Fund	1.75%	13.59%	-9.38%	7.42%	-15.66%	-5.27%	12.66%	9.21%	-5.59%	11.51%
QYLD Global X NASDAQ 100 Covered Call ETF	10.06%	9.28%	19.35%	22.77%	-19.08%	10.41%	8.72%	22.69%	-3.07%	18.79%

Correlation

The correlation between GOBSX and QYLD is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (5Y) Calculated over the trailing 5-year period	0.24
Correlation (10Y) Calculated over the trailing 10-year period	0.24
Correlation (All Time) Calculated using the full available price history since Dec 12, 2013	0.22

The correlation between GOBSX and QYLD shifts across timeframes, from 0.22 (all time) to 0.38 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

GOBSX vs. QYLD — Risk / Return Rank

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

GOBSX

GOBSX Risk / Return Rank: 8
GOBSX Sharpe Ratio Rank: 8
GOBSX Sortino Ratio Rank: 8
GOBSX Omega Ratio Rank: 7
GOBSX Calmar Ratio Rank: 9
GOBSX Martin Ratio Rank: 8

QYLD

QYLD Risk / Return Rank: 91
QYLD Sharpe Ratio Rank: 87
QYLD Sortino Ratio Rank: 89
QYLD Omega Ratio Rank: 93
QYLD Calmar Ratio Rank: 90
QYLD Martin Ratio Rank: 95

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.

GOBSX vs. QYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BrandywineGLOBAL - Global Opportunities Bond Fund (GOBSX) 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.

	GOBSX	QYLD	Difference
Sharpe ratio: Return per unit of total volatility	0.60	2.73	-2.14
Sortino ratio: Return per unit of downside risk	0.92	3.88	-2.96
Omega ratio: Gain probability vs. loss probability	1.11	1.61	-0.51
Calmar ratio: Return relative to maximum drawdown	0.82	5.22	-4.40
Martin ratio: Return relative to average drawdown	2.14	29.38	-27.24

GOBSX vs. QYLD - Sharpe Ratio Comparison

The current GOBSX Sharpe Ratio is 0.60, which is lower than the QYLD Sharpe Ratio of 2.73. The chart below compares the historical Sharpe Ratios of GOBSX 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.

Drawdowns

GOBSX vs. QYLD - Drawdown Comparison

The maximum GOBSX drawdown since its inception was -29.04%, which is greater than QYLD's maximum drawdown of -24.75%. Use the drawdown chart below to compare losses from any high point for GOBSX and QYLD.

Drawdown Indicators

	GOBSX	QYLD	Difference
Max Drawdown Largest peak-to-trough decline	-29.04%	-24.75%	-4.29%
Max Drawdown (1Y) Largest decline over 1 year	-5.10%	-4.97%	-0.13%
Max Drawdown (3Y) Largest decline over 3 years	-13.81%	-19.06%	+5.25%
Max Drawdown (5Y) Largest decline over 5 years	-27.90%	-24.61%	-3.29%
Max Drawdown (10Y) Largest decline over 10 years	-29.04%	-24.75%	-4.29%
Current Drawdown Current decline from peak	-10.47%	-0.13%	-10.34%
Average Drawdown Average peak-to-trough decline	-6.72%	-3.82%	-2.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	0.88%	+1.07%

Volatility

GOBSX vs. QYLD - Volatility Comparison

The current volatility for BrandywineGLOBAL - Global Opportunities Bond Fund (GOBSX) is 1.76%, while Global X NASDAQ 100 Covered Call ETF (QYLD) has a volatility of 4.26%. This indicates that GOBSX 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.

Volatility by Period

	GOBSX	QYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.76%	4.26%	-2.50%
Volatility (6M) Calculated over the trailing 6-month period	5.56%	8.24%	-2.68%
Volatility (1Y) Calculated over the trailing 1-year period	7.02%	9.50%	-2.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.30%	14.81%	-5.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.50%	15.55%	-7.05%

GOBSX vs. QYLD - Expense Ratio Comparison

GOBSX has a 0.56% expense ratio, which is lower than QYLD's 0.60% expense ratio.

Dividends

GOBSX vs. QYLD - Dividend Comparison

GOBSX's dividend yield for the trailing twelve months is around 4.05%, less than QYLD's 12.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GOBSX BrandywineGLOBAL - Global Opportunities Bond Fund	4.05%	4.28%	3.80%	0.09%	6.70%	2.30%	0.31%	1.56%	3.15%	3.68%	1.87%	2.61%
QYLD Global X NASDAQ 100 Covered Call ETF	12.36%	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 GOBSX and QYLD in my portfolio?

GOBSX and QYLD have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GOBSX or QYLD?

QYLD has higher volatility (4.26%) compared to GOBSX (1.76%). In terms of maximum drawdown, GOBSX dropped -29.04% vs QYLD's -24.75%.

Which has better risk-adjusted returns?

QYLD currently has the higher Sharpe Ratio (2.73 vs 0.60), 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.