HYLD vs. QYLD

Last updated Jun 24, 2026

HYLD (High Yield ETF) and QYLD (Global X NASDAQ 100 Covered Call ETF) are both exchange-traded funds - HYLD is a High Yield Bonds fund actively managed by Exchange Traded Concepts, while QYLD is a Nasdaq-100 fund tracking the CBOE NASDAQ-100 Buy Write V2. HYLD is actively managed, while QYLD is passively managed. At a 0.23 correlation, their price movements are largely independent. HYLD charges 1.29%/yr vs 0.60%/yr for QYLD.

Performance

HYLD vs. QYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in High Yield ETF (HYLD) and Global X NASDAQ 100 Covered Call ETF (QYLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

HYLD

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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)

HYLD vs. QYLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HYLD High Yield ETF	0.00%	0.00%	0.00%	2.80%	-11.48%	5.41%	3.11%	7.16%	0.25%	8.97%
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 HYLD and QYLD is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.06
Correlation (5Y) Calculated over the trailing 5-year period	0.23
Correlation (10Y) Calculated over the trailing 10-year period	0.22
Correlation (All Time) Calculated using the full available price history since Dec 12, 2013	0.23

The correlation between HYLD and QYLD shifts across timeframes, from 0.06 (3 years) to 0.23 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

HYLD vs. QYLD — Risk / Return Rank

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

HYLD

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

QYLD

QYLD Risk / Return Rank: 84
QYLD Sharpe Ratio Rank: 76
QYLD Sortino Ratio Rank: 77
QYLD Omega Ratio Rank: 87
QYLD Calmar Ratio Rank: 85
QYLD Martin Ratio Rank: 94

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.

HYLD vs. QYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for High Yield ETF (HYLD) 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.

	HYLD	QYLD	Difference
Sharpe ratio: Return per unit of total volatility	—	2.34	—
Sortino ratio: Return per unit of downside risk	—	3.28	—
Omega ratio: Gain probability vs. loss probability	—	1.52	—
Calmar ratio: Return relative to maximum drawdown	—	4.56	—
Martin ratio: Return relative to average drawdown	—	25.38	—

Drawdowns

Drawdown Indicators

	HYLD	QYLD	Difference
Max Drawdown Largest peak-to-trough decline	—	-24.75%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-4.97%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-19.06%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.61%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-24.75%	—
Current Drawdown Current decline from peak	—	-2.10%	—
Average Drawdown Average peak-to-trough decline	—	-3.82%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.89%	—

Volatility

Volatility by Period

	HYLD	QYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.78%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.50%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	9.70%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	14.84%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	15.56%	—

HYLD vs. QYLD - Expense Ratio Comparison

HYLD has a 1.29% expense ratio, which is higher than QYLD's 0.60% expense ratio.

Dividends

HYLD vs. QYLD - Dividend Comparison

HYLD has not paid dividends to shareholders, while QYLD's dividend yield for the trailing twelve months is around 11.68%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HYLD High Yield ETF	0.00%	0.00%	0.00%	4.67%	7.86%	6.45%	7.52%	7.46%	7.97%	7.18%	6.59%	10.87%
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

Can I hold both HYLD and QYLD in my portfolio?

HYLD 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.

Which ETF is better, HYLD or QYLD?

On fees, QYLD is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HYLD or QYLD?

QYLD is cheaper with a 0.60% expense ratio, compared with 1.29% for HYLD.

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

QYLD has the higher dividend yield at 11.68%, compared with 0.00% for HYLD.

What is the main difference between HYLD and QYLD?

HYLD is categorized as High Yield Bonds, while QYLD is Nasdaq-100. They also come from different issuers: Exchange Traded Concepts and Global X. Their fees differ too: 1.29% for HYLD and 0.60% for QYLD.