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MPAY.TO vs. QQCL.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MPAY.TO vs. QQCL.TO

Last updated Jun 4, 2026

MPAY.TO (Global X Mid-Term U.S. Treasury Premium Yield ETF) and QQCL.TO (Global X Enhanced NASDAQ-100 Covered Call ETF) are both exchange-traded funds - MPAY.TO is a Intermediate Core-Plus Bond fund actively managed by Global X, while QQCL.TO is a Nasdaq-100 fund actively managed by Global X. Both are actively managed. Over the past year, MPAY.TO returned 6.63% vs 43.99% for QQCL.TO. At a 0.07 correlation, their price movements are largely independent. MPAY.TO charges 0.56%/yr vs 0.85%/yr for QQCL.TO.

Performance

MPAY.TO vs. QQCL.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Mid-Term U.S. Treasury Premium Yield ETF (MPAY.TO) and Global X Enhanced NASDAQ-100 Covered Call ETF (QQCL.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, MPAY.TO achieves a 2.37% return, which is significantly lower than QQCL.TO's 20.85% return.

MPAY.TO

1D
0.27%
1M
2.57%
YTD
2.37%
6M
0.07%
1Y
6.63%
3Y*
—
5Y*
—
10Y*
—

QQCL.TO

1D
0.47%
1M
12.39%
YTD
20.85%
6M
17.94%
1Y
43.99%
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

MPAY.TO vs. QQCL.TO - Yearly Performance Comparison

2026 (YTD)202520242023
MPAY.TO
Global X Mid-Term U.S. Treasury Premium Yield ETF		2.37%0.18%7.40%2.83%
QQCL.TO
Global X Enhanced NASDAQ-100 Covered Call ETF		20.85%13.10%41.38%5.48%

Correlation

The correlation between MPAY.TO and QQCL.TO is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.16

Correlation (All Time)
Calculated using the full available price history since Oct 12, 2023

0.07

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 Mid-Term U.S. Treasury Premium Yield ETF

Global X Enhanced NASDAQ-100 Covered Call ETF

Often compared with MPAY.TO:
MPAY.TO vs. CASH.TOMPAY.TO vs. HSAV.TOMPAY.TO vs. HBNK.TOMPAY.TO vs. HXT.TOMPAY.TO vs. CHPS.TOMPAY.TO vs. HXS.TOMPAY.TO vs. CBIL.TO
Often compared with QQCL.TO:
QQCL.TO vs. QQC.TOQQCL.TO vs. QQCC.TOQQCL.TO vs. HYLDQQCL.TO vs. QMAX.TOQQCL.TO vs. QYLDQQCL.TO vs. XEQT.TOQQCL.TO vs. QQQY.TO

Return for Risk

MPAY.TO vs. QQCL.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MPAY.TO
MPAY.TO Risk / Return Rank: 3030
Overall Rank
MPAY.TO Sharpe Ratio Rank: 3232
Sharpe Ratio Rank
MPAY.TO Sortino Ratio Rank: 3333
Sortino Ratio Rank
MPAY.TO Omega Ratio Rank: 3131
Omega Ratio Rank
MPAY.TO Calmar Ratio Rank: 2929
Calmar Ratio Rank
MPAY.TO Martin Ratio Rank: 2525
Martin Ratio Rank
QQCL.TO
QQCL.TO Risk / Return Rank: 8181
Overall Rank
QQCL.TO Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
QQCL.TO Sortino Ratio Rank: 8080
Sortino Ratio Rank
QQCL.TO Omega Ratio Rank: 8282
Omega Ratio Rank
QQCL.TO Calmar Ratio Rank: 7979
Calmar Ratio Rank
QQCL.TO Martin Ratio Rank: 7878
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.

MPAY.TO vs. QQCL.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Mid-Term U.S. Treasury Premium Yield ETF (MPAY.TO) and Global X Enhanced NASDAQ-100 Covered Call ETF (QQCL.TO). 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.

MPAY.TOQQCL.TODifference
Sharpe ratioReturn per unit of total volatility
1.14
2.81

-1.67

Sortino ratioReturn per unit of downside risk
1.72
3.65

-1.93

Omega ratioGain probability vs. loss probability

1.21

1.51

-0.30

Calmar ratioReturn relative to maximum drawdown

1.36

4.14

-2.77

Martin ratioReturn relative to average drawdown

3.14

15.49

-12.35

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MPAY.TO vs. QQCL.TO - Sharpe Ratio Comparison

The current MPAY.TO Sharpe Ratio is 1.14, which is lower than the QQCL.TO Sharpe Ratio of 2.81. The chart below compares the historical Sharpe Ratios of MPAY.TO and QQCL.TO, 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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Sharpe Ratios by Period

MPAY.TOQQCL.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.14

2.81

-1.67

Sharpe Ratio (All Time)

Calculated using the full available price history

0.74

1.52

-0.79

Drawdowns

MPAY.TO vs. QQCL.TO - Drawdown Comparison

The maximum MPAY.TO drawdown since its inception was -7.95%, smaller than the maximum QQCL.TO drawdown of -25.63%. Use the drawdown chart below to compare losses from any high point for MPAY.TO and QQCL.TO.

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Drawdown Indicators

MPAY.TOQQCL.TODifference

Max Drawdown

Largest peak-to-trough decline

-7.95%

-25.63%

+17.68%

Max Drawdown (1Y)

Largest decline over 1 year

-4.88%

-10.68%

+5.80%

Current Drawdown

Current decline from peak

-1.43%

0.00%

-1.43%

Average Drawdown

Average peak-to-trough decline

-2.16%

-3.32%

+1.16%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.12%

2.85%

-0.73%

Volatility

MPAY.TO vs. QQCL.TO - Volatility Comparison

The current volatility for Global X Mid-Term U.S. Treasury Premium Yield ETF (MPAY.TO) is 1.80%, while Global X Enhanced NASDAQ-100 Covered Call ETF (QQCL.TO) has a volatility of 4.30%. This indicates that MPAY.TO experiences smaller price fluctuations and is considered to be less risky than QQCL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

MPAY.TOQQCL.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

1.80%

4.30%

-2.50%

Volatility (6M)

Calculated over the trailing 6-month period

4.41%

12.58%

-8.17%

Volatility (1Y)

Calculated over the trailing 1-year period

5.84%

15.74%

-9.90%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

7.03%

20.38%

-13.35%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

7.03%

20.38%

-13.35%

MPAY.TO vs. QQCL.TO - Expense Ratio Comparison

MPAY.TO has a 0.56% expense ratio, which is lower than QQCL.TO's 0.85% expense ratio.

Dividends

MPAY.TO vs. QQCL.TO - Dividend Comparison

MPAY.TO's dividend yield for the trailing twelve months is around 8.73%, less than QQCL.TO's 13.15% yield.

PositionTTM202520242023
MPAY.TO
Global X Mid-Term U.S. Treasury Premium Yield ETF		8.73%9.21%9.12%2.21%
QQCL.TO
Global X Enhanced NASDAQ-100 Covered Call ETF		13.15%14.54%11.87%3.68%

Frequently Asked Questions

MPAY.TO and QQCL.TO have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, MPAY.TO is cheaper at 0.56% per year. The better choice depends on whether you care most about return, fees, risk, or income.

MPAY.TO is cheaper with a 0.56% expense ratio, compared with 0.85% for QQCL.TO.

MPAY.TO is categorized as Intermediate Core-Plus Bond, while QQCL.TO is Nasdaq-100. Their fees differ too: 0.56% for MPAY.TO and 0.85% for QQCL.TO.

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