HERO vs. QYLD

Last updated Aug 4, 2026

HERO (Global X Video Games & Esports ETF) and QYLD (Global X NASDAQ 100 Covered Call ETF) are both exchange-traded funds - HERO is a Large Cap Growth Equities fund tracking the Solactive Video Games & Esports 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, HERO returned -1.39%/yr vs 7.94%/yr for QYLD. Their 0.59 correlation means they have sometimes moved together and sometimes differently. HERO charges 0.50%/yr vs 0.60%/yr for QYLD.

Performance

HERO vs. QYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Video Games & Esports ETF (HERO) 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, HERO achieves a -10.56% return, which is significantly lower than QYLD's 8.73% return.

HERO

• 1D: 1.40%
• 1M: 4.91%
• 6M: -9.80%
• YTD: -10.56%
• 1Y: -13.47%
• 3Y*: 10.27%
• 5Y*: -1.39%
• 10Y*: —
• ALL TIME*: 9.68%

QYLD

• 1D: 0.99%
• 1M: 0.00%
• 6M: 6.38%
• YTD: 8.73%
• 1Y: 21.85%
• 3Y*: 13.13%
• 5Y*: 7.94%
• 10Y*: 9.65%
• ALL TIME*: 8.64%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HERO Global X Video Games & Esports ETF	$881.17K	$612.17K	$690.19K
QYLD Global X NASDAQ 100 Covered Call ETF	$81.92M	$78.72M	$98.91M

HERO vs. QYLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
HERO Global X Video Games & Esports ETF	-10.56%	28.74%	17.65%	8.36%	-33.42%	-8.37%	91.02%	9.12%
QYLD Global X NASDAQ 100 Covered Call ETF	8.73%	9.28%	19.35%	22.77%	-19.08%	10.41%	8.72%	3.74%

Correlation

The correlation between HERO and QYLD is 0.44, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.44
Correlation (3Y) Balances recent behavior with more history.	0.50
Correlation (5Y) Shows whether the relationship held over a longer period.	0.57
Correlation (All Time) Calculated using the full available price history since Oct 31, 2019	0.59

The correlation between HERO and QYLD shifts across timeframes, from 0.44 (1 year) to 0.59 (all time), reflecting how their relationship changes across market environments.

HERO vs. QYLD - Sectors Allocation Comparison

Sectors	HERO	QYLD
Communication Services	92.0%	12.5%
Technology	6.7%	61.4%
Industrials	1.4%	4.4%
Basic Materials	-	1.1%
Consumer Cyclical	-	10.2%
Consumer Defensive	-	6.7%
Energy	-	0.5%
Financial Services	-	0.2%
Healthcare	-	3.8%
Real Estate	-	0.1%
Utilities	-	1.3%

Return for Risk

HERO vs. QYLD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

HERO

HERO Risk / Return Rank: 5
HERO Sharpe Ratio Rank: 4
HERO Sortino Ratio Rank: 4
HERO Omega Ratio Rank: 4
HERO Calmar Ratio Rank: 6
HERO Martin Ratio Rank: 6

QYLD

QYLD Risk / Return Rank: 87
QYLD Sharpe Ratio Rank: 83
QYLD Sortino Ratio Rank: 83
QYLD Omega Ratio Rank: 88
QYLD Calmar Ratio Rank: 89
QYLD Martin Ratio Rank: 93

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

HERO vs. QYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Video Games & Esports ETF (HERO) 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.

	HERO	QYLD	Difference
Sharpe ratio: Return per unit of total volatility	-0.66	1.95	-2.61
Sortino ratio: Return per unit of downside risk	-0.80	2.78	-3.58
Omega ratio: Gain probability vs. loss probability	0.90	1.40	-0.50
Calmar ratio: Return relative to maximum drawdown	-0.44	3.80	-4.24
Martin ratio: Return relative to average drawdown	-0.76	17.57	-18.33

HERO vs. QYLD - Sharpe Ratio Comparison

The current HERO Sharpe Ratio is -0.66, which is lower than the QYLD Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of HERO 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

HERO vs. QYLD - Drawdown Comparison

The maximum HERO drawdown since its inception was -54.02%, which is greater than QYLD's maximum drawdown of -24.75%. Use the drawdown chart below to compare losses from any high point for HERO and QYLD.

Drawdown Indicators

	HERO	QYLD	Difference
Max Drawdown Largest peak-to-trough decline	-54.02%	-24.75%	-29.27%
Max Drawdown (1Y) Largest decline over 1 year	-30.78%	-5.78%	-25.00%
Max Drawdown (3Y) Largest decline over 3 years	-30.78%	-19.06%	-11.72%
Max Drawdown (5Y) Largest decline over 5 years	-46.42%	-24.61%	-21.81%
Max Drawdown (10Y) Largest decline over 10 years	—	-24.75%	—
Current Drawdown Current decline from peak	-24.74%	-2.00%	-22.74%
Average Drawdown Average peak-to-trough decline	-26.02%	-3.81%	-22.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.64%	1.25%	+16.39%

Volatility

HERO vs. QYLD - Volatility Comparison

Global X Video Games & Esports ETF (HERO) has a higher volatility of 7.39% compared to Global X NASDAQ 100 Covered Call ETF (QYLD) at 5.17%. This indicates that HERO'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.

Volatility by Period

	HERO	QYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.39%	5.17%	+2.22%
Volatility (6M) Calculated over the trailing 6-month period	16.13%	10.07%	+6.06%
Volatility (1Y) Calculated over the trailing 1-year period	20.63%	11.26%	+9.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.48%	15.05%	+8.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.45%	15.64%	+8.81%

HERO vs. QYLD - Expense Ratio Comparison

HERO has a 0.50% expense ratio, which is lower than QYLD's 0.60% expense ratio.

Dividends

HERO vs. QYLD - Dividend Comparison

HERO's dividend yield for the trailing twelve months is around 1.74%, less than QYLD's 11.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HERO Global X Video Games & Esports ETF	1.74%	1.62%	1.06%	0.73%	0.28%	0.79%	0.71%	0.17%	0.00%	0.00%	0.00%	0.00%
QYLD Global X NASDAQ 100 Covered Call ETF	11.78%	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 HERO and QYLD in my portfolio?

HERO and QYLD have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HERO or QYLD?

HERO has higher volatility (7.39%) compared to QYLD (5.17%). In terms of maximum drawdown, HERO dropped -54.02% vs QYLD's -24.75%.

Which ETF is better, HERO or QYLD?

On 5-year performance, QYLD leads with 7.94% vs -1.39% for HERO. On fees, HERO is cheaper at 0.50% per year. On volatility, QYLD has been the lower-risk option at 5.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HERO or QYLD?

Over the 5-year period, QYLD has performed better with a 7.94% return vs -1.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HERO or QYLD?

HERO is cheaper with a 0.50% expense ratio, compared with 0.60% for QYLD.

Which ETF pays a higher dividend yield, HERO or QYLD?

QYLD has the higher dividend yield at 11.78%, compared with 1.74% for HERO.

What is the main difference between HERO and QYLD?

HERO is categorized as Large Cap Growth Equities, while QYLD is Nasdaq-100. HERO tracks Solactive Video Games & Esports Index, while QYLD tracks CBOE NASDAQ-100 Buy Write V2. Their fees differ too: 0.50% for HERO and 0.60% for QYLD.

Which has better risk-adjusted returns?

QYLD currently has the higher Sharpe Ratio (1.95 vs -0.66), 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.