GXDW vs. QYLD
GXDW (Global X Dorsey Wright Thematic ETF) and QYLD (Global X NASDAQ 100 Covered Call ETF) are both exchange-traded funds - GXDW is a Systematic Trend fund tracking the Nasdaq Dorsey Wright Thematic Rotation Total Return Index, while QYLD is a Nasdaq-100 fund tracking the CBOE NASDAQ-100 Buy Write V2. Both are passively managed. Over the past 5 years, GXDW returned -8.13%/yr vs 8.43%/yr for QYLD. A 0.66 correlation means they provide meaningful diversification when combined. GXDW charges 0.50%/yr vs 0.60%/yr for QYLD.
Performance
GXDW vs. QYLD - Performance Comparison
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Returns By Period
In the year-to-date period, GXDW achieves a 23.43% return, which is significantly higher than QYLD's 7.88% return.
GXDW
- 1D
- -1.42%
- 1M
- 4.46%
- YTD
- 23.43%
- 6M
- 17.77%
- 1Y
- 19.75%
- 3Y*
- 6.30%
- 5Y*
- -8.13%
- 10Y*
- —
QYLD
- 1D
- 0.00%
- 1M
- 1.40%
- YTD
- 7.88%
- 6M
- 9.91%
- 1Y
- 23.70%
- 3Y*
- 13.76%
- 5Y*
- 8.43%
- 10Y*
- 9.81%
GXDW vs. QYLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
GXDW Global X Dorsey Wright Thematic ETF | 23.43% | 3.52% | -3.55% | 10.26% | -48.08% | 3.21% | 61.07% | 4.70% |
QYLD Global X NASDAQ 100 Covered Call ETF | 7.88% | 9.28% | 19.35% | 22.77% | -19.08% | 10.41% | 8.72% | 3.43% |
Correlation
The correlation between GXDW and QYLD is 0.71, 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 | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Nov 5, 2019 | 0.66 |
The correlation between GXDW and QYLD shifts across timeframes, from 0.59 (3 years) to 0.71 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GXDW vs. QYLD — Risk / Return Rank
GXDW
QYLD
GXDW vs. QYLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Dorsey Wright Thematic ETF (GXDW) 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.
| GXDW | QYLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.00 | ||
| Sortino ratioReturn per unit of downside risk | -2.69 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.63 | -0.47 |
| Calmar ratioReturn relative to maximum drawdown | 0.80 | 4.79 | -3.99 |
| Martin ratioReturn relative to average drawdown | 1.91 | 28.10 | -26.19 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GXDW | QYLD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.78 | 2.78 | -2.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.30 | 0.58 | -0.87 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.63 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.11 | 0.59 | -0.48 |
Drawdowns
GXDW vs. QYLD - Drawdown Comparison
The maximum GXDW drawdown since its inception was -67.81%, which is greater than QYLD's maximum drawdown of -24.75%. Use the drawdown chart below to compare losses from any high point for GXDW and QYLD.
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Drawdown Indicators
| GXDW | QYLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.81% | -24.75% | -43.06% |
Max Drawdown (1Y)Largest decline over 1 year | -24.65% | -4.97% | -19.68% |
Max Drawdown (3Y)Largest decline over 3 years | -31.89% | -19.06% | -12.83% |
Max Drawdown (5Y)Largest decline over 5 years | -61.17% | -24.61% | -36.56% |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.75% | — |
Current DrawdownCurrent decline from peak | -51.21% | -0.06% | -51.15% |
Average DrawdownAverage peak-to-trough decline | -43.09% | -3.84% | -39.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.36% | 0.85% | +9.51% |
Volatility
GXDW vs. QYLD - Volatility Comparison
Global X Dorsey Wright Thematic ETF (GXDW) has a higher volatility of 10.10% compared to Global X NASDAQ 100 Covered Call ETF (QYLD) at 1.84%. This indicates that GXDW'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
| GXDW | QYLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.10% | 1.84% | +8.26% |
Volatility (6M)Calculated over the trailing 6-month period | 19.04% | 7.12% | +11.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.56% | 8.57% | +16.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.63% | 14.70% | +12.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.59% | 15.49% | +14.10% |
GXDW vs. QYLD - Expense Ratio Comparison
GXDW has a 0.50% expense ratio, which is lower than QYLD's 0.60% expense ratio.
Dividends
GXDW vs. QYLD - Dividend Comparison
GXDW's dividend yield for the trailing twelve months is around 1.14%, less than QYLD's 11.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GXDW Global X Dorsey Wright Thematic ETF | 1.14% | 1.40% | 1.08% | 1.99% | 1.48% | 1.56% | 0.48% | 0.31% | 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
GXDW and QYLD have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GXDW has higher volatility (10.10%) compared to QYLD (1.84%). In terms of maximum drawdown, GXDW dropped -67.81% vs QYLD's -24.75%.
On 5-year performance, QYLD leads with 8.43% vs -8.13% for GXDW. On fees, GXDW is cheaper at 0.50% per year. On volatility, QYLD has been the lower-risk option at 1.84%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, QYLD has performed better with a 8.43% return vs -8.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GXDW is cheaper with a 0.50% expense ratio, compared with 0.60% for QYLD.
QYLD has the higher dividend yield at 11.46%, compared with 1.14% for GXDW.
GXDW is categorized as Systematic Trend, while QYLD is Nasdaq-100. GXDW tracks Nasdaq Dorsey Wright Thematic Rotation Total Return Index, while QYLD tracks CBOE NASDAQ-100 Buy Write V2. Their fees differ too: 0.50% for GXDW and 0.60% for QYLD.
QYLD currently has the higher Sharpe Ratio (2.78 vs 0.78), 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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