QEW vs. QYLG

Last updated Jul 17, 2026

QEW (Invesco QQQ Equal Weight ETF) and QYLG (Global X Nasdaq 100 Covered Call & Growth ETF) are both Nasdaq-100 funds - QEW tracks the Nasdaq-100 Equal Weighted Index while QYLG tracks the CBOE Nasdaq-100 BuyWrite V2 Index. Both are passively managed. Their correlation of 0.91 suggests significant overlap in exposure. QEW charges 0.25%/yr vs 0.60%/yr for QYLG.

Performance

QEW vs. QYLG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco QQQ Equal Weight ETF (QEW) and Global X Nasdaq 100 Covered Call & Growth ETF (QYLG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

QEW

• 1D: -0.34%
• 1M: -1.66%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QYLG

• 1D: -1.62%
• 1M: -1.59%
• 6M: 10.67%
• YTD: 11.95%
• 1Y: 24.48%
• 3Y*: 18.25%
• 5Y*: 11.80%
• 10Y*: —

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

QEW vs. QYLG - Yearly Performance Comparison

	2026 (YTD)
QEW Invesco QQQ Equal Weight ETF	17.27%
QYLG Global X Nasdaq 100 Covered Call & Growth ETF	11.70%

Correlation

The correlation between QEW and QYLG is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 18, 2026	0.91

Return for Risk

QEW vs. QYLG — Risk / Return Rank

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

QEW

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

QYLG

QYLG Risk / Return Rank: 69
QYLG Sharpe Ratio Rank: 65
QYLG Sortino Ratio Rank: 62
QYLG Omega Ratio Rank: 63
QYLG Calmar Ratio Rank: 72
QYLG Martin Ratio Rank: 81

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.

QEW vs. QYLG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ Equal Weight ETF (QEW) and Global X Nasdaq 100 Covered Call & Growth ETF (QYLG). 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.

	QEW	QYLG	Difference
Sharpe ratio: Return per unit of total volatility	—	1.71	—
Sortino ratio: Return per unit of downside risk	—	2.35	—
Omega ratio: Gain probability vs. loss probability	—	1.31	—
Calmar ratio: Return relative to maximum drawdown	—	2.92	—
Martin ratio: Return relative to average drawdown	—	12.24	—

Drawdowns

QEW vs. QYLG - Drawdown Comparison

The maximum QEW drawdown since its inception was -5.87%, smaller than the maximum QYLG drawdown of -29.98%. Use the drawdown chart below to compare losses from any high point for QEW and QYLG.

Drawdown Indicators

	QEW	QYLG	Difference
Max Drawdown Largest peak-to-trough decline	-5.87%	-29.98%	+24.11%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.42%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-20.75%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-29.98%	—
Current Drawdown Current decline from peak	-3.44%	-3.31%	-0.13%
Average Drawdown Average peak-to-trough decline	-1.32%	-6.33%	+5.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.00%	—

Volatility

Volatility by Period

	QEW	QYLG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.28%	—
Volatility (6M) Calculated over the trailing 6-month period	—	12.34%	—
Volatility (1Y) Calculated over the trailing 1-year period	19.30%	14.40%	+4.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.30%	18.31%	+0.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.30%	18.06%	+1.24%

QEW vs. QYLG - Expense Ratio Comparison

QEW has a 0.25% expense ratio, which is lower than QYLG's 0.60% expense ratio.

Dividends

QEW vs. QYLG - Dividend Comparison

QEW's dividend yield for the trailing twelve months is around 0.11%, less than QYLG's 16.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
QEW Invesco QQQ Equal Weight ETF	0.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QYLG Global X Nasdaq 100 Covered Call & Growth ETF	16.75%	17.93%	25.27%	5.43%	6.91%	10.15%	1.44%

Frequently Asked Questions

Can I hold both QEW and QYLG in my portfolio?

With a correlation of 0.91, QEW and QYLG move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, QEW or QYLG?

On fees, QEW is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QEW or QYLG?

QEW is cheaper with a 0.25% expense ratio, compared with 0.60% for QYLG.

Which ETF pays a higher dividend yield, QEW or QYLG?

QYLG has the higher dividend yield at 16.75%, compared with 0.11% for QEW.

What is the main difference between QEW and QYLG?

QEW tracks Nasdaq-100 Equal Weighted Index, while QYLG tracks CBOE Nasdaq-100 BuyWrite V2 Index. They also come from different issuers: Invesco and Global X. Their fees differ too: 0.25% for QEW and 0.60% for QYLG.