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GOEX vs. QYLD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

GOEX vs. QYLD

Last updated Jun 24, 2026

GOEX (Global X Gold Explorers ETF) and QYLD (Global X NASDAQ 100 Covered Call ETF) are both exchange-traded funds - GOEX is a Gold fund tracking the Solactive Global Gold Explorers & Developers Total Return, while QYLD is a Nasdaq-100 fund tracking the CBOE NASDAQ-100 Buy Write V2. Both are passively managed. Over the past 10 years, GOEX returned 11.97%/yr vs 9.99%/yr for QYLD. At a 0.15 correlation, their price movements are largely independent. GOEX charges 0.65%/yr vs 0.60%/yr for QYLD.

Performance

GOEX vs. QYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Gold Explorers ETF (GOEX) 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, GOEX achieves a -10.87% return, which is significantly lower than QYLD's 7.89% return. Over the past 10 years, GOEX has outperformed QYLD with an annualized return of 11.97%, while QYLD has yielded a comparatively lower 9.99% annualized return.

GOEX

1D
-4.76%
1M
-7.11%
YTD
-10.87%
6M
-15.49%
1Y
57.11%
3Y*
46.70%
5Y*
19.54%
10Y*
11.97%

QYLD

1D
-1.97%
1M
1.41%
YTD
7.89%
6M
7.59%
1Y
22.55%
3Y*
13.99%
5Y*
8.26%
10Y*
9.99%
*Multi-year figures are annualized to reflect compound growth (CAGR)

GOEX vs. QYLD - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
GOEX
Global X Gold Explorers ETF		-10.87%179.50%19.38%1.99%-14.63%-14.45%34.98%36.73%-14.84%12.61%
QYLD
Global X NASDAQ 100 Covered Call ETF		7.89%9.28%19.35%22.77%-19.08%10.41%8.72%22.69%-3.07%18.79%

Correlation

The correlation between GOEX and QYLD is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.39

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

0.28

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

0.27

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

0.20

Correlation (All Time)
Calculated using the full available price history since Dec 12, 2013

0.15

Over the past year, GOEX and QYLD have become more correlated (0.39) than their long-term average of 0.15, meaning their price movements have been converging.

GOEX vs. QYLD - Sectors Allocation Comparison

Sectors
GOEX
QYLD

Basic Materials

100.0%
1.0%

Industrials

0.1%
2.6%

Communication Services

-

14.3%

Consumer Cyclical

-

11.4%

Consumer Defensive

-

6.4%

Energy

-

0.5%

Financial Services

-

0.2%

Healthcare

-

3.7%

Real Estate

-

0.1%

Technology

-

58.7%

Utilities

-

1.2%

Basic Materials

GOEX
100.0%
QYLD
1.0%

Industrials

GOEX
0.1%
QYLD
2.6%

Communication Services

GOEX

-

QYLD
14.3%

Consumer Cyclical

GOEX

-

QYLD
11.4%

Consumer Defensive

GOEX

-

QYLD
6.4%

Energy

GOEX

-

QYLD
0.5%

Financial Services

GOEX

-

QYLD
0.2%

Healthcare

GOEX

-

QYLD
3.7%

Real Estate

GOEX

-

QYLD
0.1%

Technology

GOEX

-

QYLD
58.7%

Utilities

GOEX

-

QYLD
1.2%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Global X Gold Explorers ETF

Global X NASDAQ 100 Covered Call ETF

Often compared with GOEX:
GOEX vs. GLDGOEX vs. SILGOEX vs. RINGGOEX vs. XMEGOEX vs. COPXGOEX vs. URAGOEX vs. IAU
Often compared with QYLD:
QYLD vs. JEPQQYLD vs. JEPIQYLD vs. QQQQYLD vs. XYLDQYLD vs. RYLDQYLD vs. SCHDQYLD vs. QYLG

Return for Risk

GOEX vs. QYLD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
GOEX
GOEX Risk / Return Rank: 3131
Overall Rank
GOEX Sharpe Ratio Rank: 3232
Sharpe Ratio Rank
GOEX Sortino Ratio Rank: 3131
Sortino Ratio Rank
GOEX Omega Ratio Rank: 3333
Omega Ratio Rank
GOEX Calmar Ratio Rank: 3030
Calmar Ratio Rank
GOEX Martin Ratio Rank: 2929
Martin Ratio Rank
QYLD
QYLD Risk / Return Rank: 8484
Overall Rank
QYLD Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
QYLD Sortino Ratio Rank: 7777
Sortino Ratio Rank
QYLD Omega Ratio Rank: 8787
Omega Ratio Rank
QYLD Calmar Ratio Rank: 8585
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.

GOEX vs. QYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Gold Explorers ETF (GOEX) 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.

GOEXQYLDDifference
Sharpe ratioReturn per unit of total volatility
1.11
2.34

-1.22

Sortino ratioReturn per unit of downside risk
1.58
3.28

-1.70

Omega ratioGain probability vs. loss probability

1.21

1.52

-0.31

Calmar ratioReturn relative to maximum drawdown

1.45

4.56

-3.11

Martin ratioReturn relative to average drawdown

3.84

25.38

-21.54

GOEX vs. QYLD - Sharpe Ratio Comparison

The current GOEX Sharpe Ratio is 1.11, which is lower than the QYLD Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of GOEX 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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Drawdowns

GOEX vs. QYLD - Drawdown Comparison

The maximum GOEX drawdown since its inception was -88.83%, which is greater than QYLD's maximum drawdown of -24.75%. Use the drawdown chart below to compare losses from any high point for GOEX and QYLD.

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Drawdown Indicators

GOEXQYLDDifference

Max Drawdown

Largest peak-to-trough decline

-88.83%

-24.75%

-64.08%

Max Drawdown (1Y)

Largest decline over 1 year

-39.64%

-4.97%

-34.67%

Max Drawdown (3Y)

Largest decline over 3 years

-39.64%

-19.06%

-20.58%

Max Drawdown (5Y)

Largest decline over 5 years

-47.16%

-24.61%

-22.55%

Max Drawdown (10Y)

Largest decline over 10 years

-53.66%

-24.75%

-28.91%

Current Drawdown

Current decline from peak

-34.22%

-2.10%

-32.12%

Average Drawdown

Average peak-to-trough decline

-63.47%

-3.82%

-59.65%

Ulcer Index

Depth and duration of drawdowns from previous peaks

14.92%

0.89%

+14.03%

Volatility

GOEX vs. QYLD - Volatility Comparison

Global X Gold Explorers ETF (GOEX) has a higher volatility of 18.46% compared to Global X NASDAQ 100 Covered Call ETF (QYLD) at 4.78%. This indicates that GOEX'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

GOEXQYLDDifference

Volatility (1M)

Calculated over the trailing 1-month period

18.46%

4.78%

+13.68%

Volatility (6M)

Calculated over the trailing 6-month period

42.70%

8.50%

+34.20%

Volatility (1Y)

Calculated over the trailing 1-year period

51.52%

9.70%

+41.82%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

39.57%

14.84%

+24.73%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

40.17%

15.56%

+24.61%

GOEX vs. QYLD - Expense Ratio Comparison

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

Dividends

GOEX vs. QYLD - Dividend Comparison

GOEX's dividend yield for the trailing twelve months is around 2.33%, less than QYLD's 11.68% yield.

PositionTTM20252024202320222021202020192018201720162015
GOEX
Global X Gold Explorers ETF		2.33%2.08%2.46%0.05%1.04%2.35%2.62%1.60%0.00%0.00%38.91%11.70%
QYLD
Global X NASDAQ 100 Covered Call ETF		11.68%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

GOEX and QYLD have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

GOEX has higher volatility (18.46%) compared to QYLD (4.78%). In terms of maximum drawdown, GOEX dropped -88.83% vs QYLD's -24.75%.

On 10-year performance, GOEX leads with 11.97% vs 9.99% for QYLD. On fees, QYLD is cheaper at 0.60% per year. On volatility, QYLD has been the lower-risk option at 4.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, GOEX has performed better with a 11.97% return vs 9.99%. 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 GOEX.

QYLD has the higher dividend yield at 11.68%, compared with 2.33% for GOEX.

GOEX is categorized as Gold, while QYLD is Nasdaq-100. GOEX tracks Solactive Global Gold Explorers & Developers Total Return, while QYLD tracks CBOE NASDAQ-100 Buy Write V2. Their fees differ too: 0.65% for GOEX and 0.60% for QYLD.

QYLD currently has the higher Sharpe Ratio (2.34 vs 1.11), 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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