QQCL.TO vs. QQQX.TO
QQCL.TO (Global X Enhanced NASDAQ-100 Covered Call ETF) and QQQX.TO (Global X Nasdaq-100 Index ETF) are both Nasdaq-100 funds from Global X. QQCL.TO is actively managed, while QQQX.TO is passively managed. Over the past year, QQCL.TO returned 43.99% vs 43.61% for QQQX.TO. Their correlation of 0.92 suggests significant overlap in exposure. QQCL.TO charges 0.85%/yr vs 0.15%/yr for QQQX.TO.
Performance
QQCL.TO vs. QQQX.TO - Performance Comparison
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Returns By Period
In the year-to-date period, QQCL.TO achieves a 20.85% return, which is significantly lower than QQQX.TO's 22.91% return.
QQCL.TO
- 1D
- 0.47%
- 1M
- 12.39%
- YTD
- 20.85%
- 6M
- 17.94%
- 1Y
- 43.99%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QQQX.TO
- 1D
- 0.24%
- 1M
- 13.05%
- YTD
- 22.91%
- 6M
- 19.10%
- 1Y
- 43.61%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QQCL.TO vs. QQQX.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
QQCL.TO Global X Enhanced NASDAQ-100 Covered Call ETF | 20.85% | 13.10% | 24.96% |
QQQX.TO Global X Nasdaq-100 Index ETF | 22.91% | 14.55% | 20.80% |
Correlation
The correlation between QQCL.TO and QQQX.TO is 0.92, 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 | 0.92 |
Correlation (All Time) Calculated using the full available price history since May 21, 2024 | 0.92 |
The correlation between QQCL.TO and QQQX.TO has been stable across timeframes, ranging from 0.92 to 0.92 - a consistent structural relationship.
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Return for Risk
QQCL.TO vs. QQQX.TO — Risk / Return Rank
QQCL.TO
QQQX.TO
QQCL.TO vs. QQQX.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Enhanced NASDAQ-100 Covered Call ETF (QQCL.TO) and Global X Nasdaq-100 Index ETF (QQQX.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.
| QQCL.TO | QQQX.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.07 | ||
| Sortino ratioReturn per unit of downside risk | +0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.48 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 4.14 | 3.60 | +0.54 |
| Martin ratioReturn relative to average drawdown | 15.49 | 11.56 | +3.93 |
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
| QQCL.TO | QQQX.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.81 | 2.74 | +0.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.52 | 1.44 | +0.08 |
Drawdowns
QQCL.TO vs. QQQX.TO - Drawdown Comparison
The maximum QQCL.TO drawdown since its inception was -25.63%, which is greater than QQQX.TO's maximum drawdown of -22.62%. Use the drawdown chart below to compare losses from any high point for QQCL.TO and QQQX.TO.
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Drawdown Indicators
| QQCL.TO | QQQX.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.63% | -22.62% | -3.01% |
Max Drawdown (1Y)Largest decline over 1 year | -10.68% | -12.18% | +1.50% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -3.32% | -3.96% | +0.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.85% | 3.78% | -0.93% |
Volatility
QQCL.TO vs. QQQX.TO - Volatility Comparison
The current volatility for Global X Enhanced NASDAQ-100 Covered Call ETF (QQCL.TO) is 4.30%, while Global X Nasdaq-100 Index ETF (QQQX.TO) has a volatility of 4.73%. This indicates that QQCL.TO experiences smaller price fluctuations and is considered to be less risky than QQQX.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QQCL.TO | QQQX.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.30% | 4.73% | -0.43% |
Volatility (6M)Calculated over the trailing 6-month period | 12.58% | 11.94% | +0.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.74% | 16.02% | -0.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.38% | 20.74% | -0.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.38% | 20.74% | -0.36% |
QQCL.TO vs. QQQX.TO - Expense Ratio Comparison
QQCL.TO has a 0.85% expense ratio, which is higher than QQQX.TO's 0.15% expense ratio.
Dividends
QQCL.TO vs. QQQX.TO - Dividend Comparison
QQCL.TO's dividend yield for the trailing twelve months is around 13.15%, more than QQQX.TO's 0.29% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
QQCL.TO Global X Enhanced NASDAQ-100 Covered Call ETF | 13.15% | 14.54% | 11.87% | 3.68% |
QQQX.TO Global X Nasdaq-100 Index ETF | 0.29% | 0.35% | 0.14% | 0.00% |
Frequently Asked Questions
With a correlation of 0.92, QQCL.TO and QQQX.TO 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.
On fees, QQQX.TO is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
QQQX.TO is cheaper with a 0.15% expense ratio, compared with 0.85% for QQCL.TO.
Their fees differ too: 0.85% for QQCL.TO and 0.15% for QQQX.TO.
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