PUTW vs. QYLD
Compare and contrast key facts about WisdomTree CBOE S&P 500 PutWrite Strategy Fund (PUTW) and Global X NASDAQ 100 Covered Call ETF (QYLD).
PUTW and QYLD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PUTW is a passively managed fund by WisdomTree that tracks the performance of the CBOE S&P 500 PutWrite Index. It was launched on Feb 24, 2016. QYLD is a passively managed fund by Global X that tracks the performance of the CBOE NASDAQ-100 Buy Write V2. It was launched on Dec 12, 2013. Both PUTW and QYLD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PUTW or QYLD.
Key characteristics
| PUTW | QYLD | |
|---|---|---|
| YTD Return | 18.41% | 18.13% |
| 1Y Return | 22.59% | 22.51% |
| 3Y Return (Ann) | 7.72% | 5.36% |
| 5Y Return (Ann) | 8.96% | 7.69% |
| Sharpe Ratio | 2.54 | 2.25 |
| Sortino Ratio | 3.37 | 3.09 |
| Omega Ratio | 1.53 | 1.55 |
| Calmar Ratio | 3.04 | 2.92 |
| Martin Ratio | 14.84 | 16.08 |
| Ulcer Index | 1.55% | 1.41% |
| Daily Std Dev | 9.04% | 10.05% |
| Max Drawdown | -28.40% | -24.89% |
| Current Drawdown | -0.06% | 0.00% |
Correlation
The correlation between PUTW and QYLD is 0.71, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
PUTW vs. QYLD - Performance Comparison
The year-to-date returns for both stocks are quite close, with PUTW having a 18.41% return and QYLD slightly lower at 18.13%. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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PUTW vs. QYLD - Expense Ratio Comparison
PUTW has a 0.44% expense ratio, which is lower than QYLD's 0.60% expense ratio.
Risk-Adjusted Performance
PUTW vs. QYLD - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree CBOE S&P 500 PutWrite Strategy Fund (PUTW) 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.
Dividends
PUTW vs. QYLD - Dividend Comparison
PUTW's dividend yield for the trailing twelve months is around 10.98%, less than QYLD's 11.24% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
PUTW WisdomTree CBOE S&P 500 PutWrite Strategy Fund | 10.98% | 8.94% | 3.27% | 0.00% | 1.43% | 1.47% | 6.46% | 3.52% | 2.27% | 0.00% | 0.00% |
QYLD Global X NASDAQ 100 Covered Call ETF | 11.24% | 11.78% | 13.75% | 12.85% | 11.16% | 9.84% | 12.44% | 7.69% | 9.15% | 9.42% | 10.74% |
Drawdowns
PUTW vs. QYLD - Drawdown Comparison
The maximum PUTW drawdown since its inception was -28.40%, which is greater than QYLD's maximum drawdown of -24.89%. Use the drawdown chart below to compare losses from any high point for PUTW and QYLD. For additional features, visit the drawdowns tool.
Volatility
PUTW vs. QYLD - Volatility Comparison
WisdomTree CBOE S&P 500 PutWrite Strategy Fund (PUTW) has a higher volatility of 2.71% compared to Global X NASDAQ 100 Covered Call ETF (QYLD) at 2.54%. This indicates that PUTW'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.