QMMY vs. QYLD

Last updated Jun 4, 2026

QMMY (FT Vest Nasdaq-100 Moderate Buffer ETF - May) and QYLD (Global X NASDAQ 100 Covered Call ETF) are both Nasdaq-100 funds. QMMY is actively managed, while QYLD is passively managed. Over the past year, QMMY returned 15.83% vs 23.93% for QYLD. Their correlation of 0.87 suggests significant overlap in exposure. QMMY charges 0.90%/yr vs 0.60%/yr for QYLD.

Performance

QMMY vs. QYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest Nasdaq-100 Moderate Buffer ETF - May (QMMY) and Global X NASDAQ 100 Covered Call ETF (QYLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QMMY achieves a 6.16% return, which is significantly lower than QYLD's 7.88% return.

QMMY

• 1D: -0.04%
• 1M: 2.21%
• YTD: 6.16%
• 6M: 6.79%
• 1Y: 15.83%
• 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%

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

QMMY vs. QYLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QMMY FT Vest Nasdaq-100 Moderate Buffer ETF - May	6.16%	15.80%	8.26%
QYLD Global X NASDAQ 100 Covered Call ETF	7.88%	9.28%	12.49%

Correlation

The correlation between QMMY and QYLD is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.85
Correlation (All Time) Calculated using the full available price history since May 21, 2024	0.87

The correlation between QMMY and QYLD has been stable across timeframes, ranging from 0.85 to 0.87 - a consistent structural relationship.

Return for Risk

QMMY vs. QYLD — Risk / Return Rank

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

QMMY

QMMY Risk / Return Rank: 85
QMMY Sharpe Ratio Rank: 80
QMMY Sortino Ratio Rank: 86
QMMY Omega Ratio Rank: 87
QMMY Calmar Ratio Rank: 81
QMMY Martin Ratio Rank: 93

QYLD

QYLD Risk / Return Rank: 88
QYLD Sharpe Ratio Rank: 84
QYLD Sortino Ratio Rank: 85
QYLD Omega Ratio Rank: 92
QYLD Calmar Ratio Rank: 86
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.

QMMY vs. QYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest Nasdaq-100 Moderate Buffer ETF - May (QMMY) 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.

	QMMY	QYLD	Difference
Sharpe ratio: Return per unit of total volatility	2.55	2.80	-0.25
Sortino ratio: Return per unit of downside risk	3.83	3.92	-0.09
Omega ratio: Gain probability vs. loss probability	1.53	1.63	-0.10
Calmar ratio: Return relative to maximum drawdown	4.17	4.84	-0.67
Martin ratio: Return relative to average drawdown	24.34	28.36	-4.03
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QMMY vs. QYLD - Sharpe Ratio Comparison

The current QMMY Sharpe Ratio is 2.55, which is comparable to the QYLD Sharpe Ratio of 2.80. The chart below compares the historical Sharpe Ratios of QMMY and QYLD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	QMMY	QYLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.55	2.80	-0.25
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	1.40	0.59	+0.81

Drawdowns

QMMY vs. QYLD - Drawdown Comparison

The maximum QMMY drawdown since its inception was -12.82%, smaller than the maximum QYLD drawdown of -24.75%. Use the drawdown chart below to compare losses from any high point for QMMY and QYLD.

Drawdown Indicators

	QMMY	QYLD	Difference
Max Drawdown Largest peak-to-trough decline	-12.82%	-24.75%	+11.93%
Max Drawdown (1Y) Largest decline over 1 year	-3.82%	-4.97%	+1.15%
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	-0.04%	-0.06%	+0.02%
Average Drawdown Average peak-to-trough decline	-1.13%	-3.84%	+2.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.65%	0.85%	-0.20%

Volatility

QMMY vs. QYLD - Volatility Comparison

The current volatility for FT Vest Nasdaq-100 Moderate Buffer ETF - May (QMMY) is 1.14%, while Global X NASDAQ 100 Covered Call ETF (QYLD) has a volatility of 1.85%. This indicates that QMMY experiences smaller price fluctuations and is considered to be less risky than QYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QMMY	QYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.14%	1.85%	-0.71%
Volatility (6M) Calculated over the trailing 6-month period	4.71%	7.12%	-2.41%
Volatility (1Y) Calculated over the trailing 1-year period	6.25%	8.58%	-2.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.87%	14.70%	-3.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.87%	15.49%	-4.62%

QMMY vs. QYLD - Expense Ratio Comparison

QMMY has a 0.90% expense ratio, which is higher than QYLD's 0.60% expense ratio.

Dividends

QMMY vs. QYLD - Dividend Comparison

QMMY has not paid dividends to shareholders, while QYLD's dividend yield for the trailing twelve months is around 11.46%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QMMY FT Vest Nasdaq-100 Moderate Buffer ETF - May	0.00%	0.00%	0.00%	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

Can I hold both QMMY and QYLD in my portfolio?

QMMY and QYLD have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QMMY or QYLD?

QYLD has higher volatility (1.85%) compared to QMMY (1.14%). In terms of maximum drawdown, QMMY dropped -12.82% vs QYLD's -24.75%.

Which ETF is better, QMMY or QYLD?

On 1-year performance, QYLD leads with 23.93% vs 15.83% for QMMY. On fees, QYLD is cheaper at 0.60% per year. On volatility, QMMY has been the lower-risk option at 1.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QMMY or QYLD?

Over the 1-year period, QYLD has performed better with a 23.93% return vs 15.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QMMY or QYLD?

QYLD is cheaper with a 0.60% expense ratio, compared with 0.90% for QMMY.

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

QYLD has the higher dividend yield at 11.46%, compared with 0.00% for QMMY.

What is the main difference between QMMY and QYLD?

They also come from different issuers: First Trust and Global X. Their fees differ too: 0.90% for QMMY and 0.60% for QYLD.

Which has better risk-adjusted returns?

QYLD currently has the higher Sharpe Ratio (2.80 vs 2.55), 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.