KHPI vs. QYLD
KHPI (Kensington Hedged Premium Income ETF) and QYLD (Global X NASDAQ 100 Covered Call ETF) are both exchange-traded funds - KHPI is a Derivative Income fund actively managed by Kensington Asset Management, while QYLD is a Nasdaq-100 fund tracking the CBOE NASDAQ-100 Buy Write V2. KHPI is actively managed, while QYLD is passively managed. Over the past year, KHPI returned 15.09% vs 23.93% for QYLD. A 0.74 correlation means they provide meaningful diversification when combined. KHPI charges 0.96%/yr vs 0.60%/yr for QYLD.
Performance
KHPI vs. QYLD - Performance Comparison
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Returns By Period
In the year-to-date period, KHPI achieves a 5.45% return, which is significantly lower than QYLD's 7.88% return.
KHPI
- 1D
- -0.50%
- 1M
- 2.40%
- YTD
- 5.45%
- 6M
- 4.74%
- 1Y
- 15.09%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QYLD
- 1D
- -0.06%
- 1M
- 1.62%
- YTD
- 7.88%
- 6M
- 9.97%
- 1Y
- 23.93%
- 3Y*
- 13.80%
- 5Y*
- 8.43%
- 10Y*
- 9.80%
KHPI vs. QYLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
KHPI Kensington Hedged Premium Income ETF | 5.45% | 11.14% | 4.29% |
QYLD Global X NASDAQ 100 Covered Call ETF | 7.88% | 9.28% | 8.71% |
Correlation
The correlation between KHPI and QYLD is 0.72, 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 | 0.72 |
Correlation (All Time) Calculated using the full available price history since Sep 6, 2024 | 0.74 |
The correlation between KHPI and QYLD has been stable across timeframes, ranging from 0.72 to 0.74 - a consistent structural relationship.
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Return for Risk
KHPI vs. QYLD — Risk / Return Rank
KHPI
QYLD
KHPI vs. QYLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Kensington Hedged Premium Income ETF (KHPI) 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.
| KHPI | QYLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.71 | ||
| Sortino ratioReturn per unit of downside risk | -0.90 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.63 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 2.31 | 4.84 | -2.52 |
| Martin ratioReturn relative to average drawdown | 10.89 | 28.36 | -17.47 |
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
| KHPI | QYLD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.10 | 2.80 | -0.71 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.58 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.63 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.28 | 0.59 | +0.69 |
Drawdowns
KHPI vs. QYLD - Drawdown Comparison
The maximum KHPI drawdown since its inception was -10.58%, smaller than the maximum QYLD drawdown of -24.75%. Use the drawdown chart below to compare losses from any high point for KHPI and QYLD.
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Drawdown Indicators
| KHPI | QYLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.58% | -24.75% | +14.17% |
Max Drawdown (1Y)Largest decline over 1 year | -6.55% | -4.97% | -1.58% |
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 DrawdownCurrent decline from peak | -0.50% | -0.06% | -0.44% |
Average DrawdownAverage peak-to-trough decline | -1.23% | -3.84% | +2.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.39% | 0.85% | +0.54% |
Volatility
KHPI vs. QYLD - Volatility Comparison
Kensington Hedged Premium Income ETF (KHPI) has a higher volatility of 2.20% compared to Global X NASDAQ 100 Covered Call ETF (QYLD) at 1.85%. This indicates that KHPI'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
| KHPI | QYLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.20% | 1.85% | +0.35% |
Volatility (6M)Calculated over the trailing 6-month period | 5.49% | 7.12% | -1.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.24% | 8.58% | -1.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.61% | 14.70% | -5.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.61% | 15.49% | -5.88% |
KHPI vs. QYLD - Expense Ratio Comparison
KHPI has a 0.96% expense ratio, which is higher than QYLD's 0.60% expense ratio.
Dividends
KHPI vs. QYLD - Dividend Comparison
KHPI's dividend yield for the trailing twelve months is around 8.86%, less than QYLD's 11.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KHPI Kensington Hedged Premium Income ETF | 8.86% | 8.90% | 3.01% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 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
KHPI and QYLD have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KHPI has higher volatility (2.20%) compared to QYLD (1.85%). In terms of maximum drawdown, KHPI dropped -10.58% vs QYLD's -24.75%.
On 1-year performance, QYLD leads with 23.93% vs 15.09% for KHPI. On fees, QYLD is cheaper at 0.60% per year. On volatility, QYLD has been the lower-risk option at 1.85%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, QYLD has performed better with a 23.93% return vs 15.09%. 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 0.96% for KHPI.
QYLD has the higher dividend yield at 11.46%, compared with 8.86% for KHPI.
KHPI is categorized as Derivative Income, while QYLD is Nasdaq-100. They also come from different issuers: Kensington Asset Management and Global X. Their fees differ too: 0.96% for KHPI and 0.60% for QYLD.
QYLD currently has the higher Sharpe Ratio (2.80 vs 2.10), 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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