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QQQ vs. QYLD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QQQ vs. QYLD

Last updated Jun 21, 2026

QQQ (Invesco QQQ ETF) and QYLD (Global X NASDAQ 100 Covered Call ETF) are both Nasdaq-100 funds - QQQ tracks the NASDAQ-100 Index while QYLD tracks the CBOE NASDAQ-100 Buy Write V2. Both are passively managed. Over the past 10 years, QQQ returned 22.17%/yr vs 10.07%/yr for QYLD. Their correlation of 0.84 suggests significant overlap in exposure. QQQ charges 0.18%/yr vs 0.60%/yr for QYLD.

Performance

QQQ vs. QYLD - Performance Comparison

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

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Returns By Period

In the year-to-date period, QQQ achieves a 20.71% return, which is significantly higher than QYLD's 10.20% return. Over the past 10 years, QQQ has outperformed QYLD with an annualized return of 22.17%, while QYLD has yielded a comparatively lower 10.07% annualized return.

QQQ

1D
2.51%
1M
3.65%
YTD
20.71%
6M
20.33%
1Y
41.26%
3Y*
27.01%
5Y*
17.37%
10Y*
22.17%

QYLD

1D
2.43%
1M
3.81%
YTD
10.20%
6M
10.75%
1Y
25.98%
3Y*
14.59%
5Y*
8.95%
10Y*
10.07%
*Multi-year figures are annualized to reflect compound growth (CAGR)

QQQ vs. QYLD - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
QQQ
Invesco QQQ ETF		20.71%20.77%25.58%54.86%-32.58%27.42%48.62%38.96%-0.13%32.66%
QYLD
Global X NASDAQ 100 Covered Call ETF		10.20%9.28%19.35%22.77%-19.08%10.41%8.72%22.69%-3.07%18.79%

Correlation

The correlation between QQQ and QYLD is 0.88, 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

0.88

Correlation (3Y)
Calculated over the trailing 3-year period

0.88

Correlation (5Y)
Calculated over the trailing 5-year period

0.90

Correlation (10Y)
Calculated over the trailing 10-year period

0.87

Correlation (All Time)
Calculated using the full available price history since Dec 12, 2013

0.84

The correlation between QQQ and QYLD has been stable across timeframes, ranging from 0.84 to 0.90 - a consistent structural relationship.

QQQ vs. QYLD - Sectors Allocation Comparison

Sectors
QQQ
QYLD

Technology

58.7%
58.7%

Communication Services

14.3%
14.3%

Consumer Cyclical

11.4%
11.4%

Consumer Defensive

6.4%
6.4%

Healthcare

3.7%
3.7%

Industrials

2.6%
2.6%

Utilities

1.2%
1.2%

Basic Materials

1.0%
1.0%

Energy

0.5%
0.5%

Financial Services

0.2%
0.2%

Real Estate

0.1%
0.1%

Technology

QQQ
58.7%
QYLD
58.7%

Communication Services

QQQ
14.3%
QYLD
14.3%

Consumer Cyclical

QQQ
11.4%
QYLD
11.4%

Consumer Defensive

QQQ
6.4%
QYLD
6.4%

Healthcare

QQQ
3.7%
QYLD
3.7%

Industrials

QQQ
2.6%
QYLD
2.6%

Utilities

QQQ
1.2%
QYLD
1.2%

Basic Materials

QQQ
1.0%
QYLD
1.0%

Energy

QQQ
0.5%
QYLD
0.5%

Financial Services

QQQ
0.2%
QYLD
0.2%

Real Estate

QQQ
0.1%
QYLD
0.1%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco QQQ ETF

Global X NASDAQ 100 Covered Call ETF

Often compared with QQQ:
QQQ vs. SPYQQQ vs. VOOQQQ vs. VGTQQQ vs. TQQQQQQ vs. SMHQQQ vs. QQQMQQQ vs. SPMO
Often compared with QYLD:
QYLD vs. JEPQQYLD vs. JEPIQYLD vs. XYLDQYLD vs. RYLDQYLD vs. SCHDQYLD vs. QYLGQYLD vs. SPY

Return for Risk

QQQ vs. QYLD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QQQ
QQQ Risk / Return Rank: 7373
Overall Rank
QQQ Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
QQQ Sortino Ratio Rank: 7171
Sortino Ratio Rank
QQQ Omega Ratio Rank: 7373
Omega Ratio Rank
QQQ Calmar Ratio Rank: 7171
Calmar Ratio Rank
QQQ Martin Ratio Rank: 7272
Martin Ratio Rank
QYLD
QYLD Risk / Return Rank: 9191
Overall Rank
QYLD Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
QYLD Sortino Ratio Rank: 8989
Sortino Ratio Rank
QYLD Omega Ratio Rank: 9393
Omega Ratio Rank
QYLD Calmar Ratio Rank: 9090
Calmar Ratio Rank
QYLD Martin Ratio Rank: 9595
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.

QQQ vs. QYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ ETF (QQQ) 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.

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.

QQQQYLDDifference
Sharpe ratioReturn per unit of total volatility
2.32
2.70

-0.38

Sortino ratioReturn per unit of downside risk
3.01
3.84

-0.82

Omega ratioGain probability vs. loss probability

1.41

1.60

-0.20

Calmar ratioReturn relative to maximum drawdown

3.42

5.16

-1.74

Martin ratioReturn relative to average drawdown

12.72

29.06

-16.34

QQQ vs. QYLD - Sharpe Ratio Comparison

The current QQQ Sharpe Ratio is 2.32, which is comparable to the QYLD Sharpe Ratio of 2.70. The chart below compares the historical Sharpe Ratios of QQQ 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.

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Drawdowns

QQQ vs. QYLD - Drawdown Comparison

The maximum QQQ drawdown since its inception was -82.97%, which is greater than QYLD's maximum drawdown of -24.75%. Use the drawdown chart below to compare losses from any high point for QQQ and QYLD.

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Drawdown Indicators

QQQQYLDDifference

Max Drawdown

Largest peak-to-trough decline

-82.97%

-24.75%

-58.22%

Max Drawdown (1Y)

Largest decline over 1 year

-11.96%

-4.97%

-6.99%

Max Drawdown (3Y)

Largest decline over 3 years

-22.77%

-19.06%

-3.71%

Max Drawdown (5Y)

Largest decline over 5 years

-35.12%

-24.61%

-10.51%

Max Drawdown (10Y)

Largest decline over 10 years

-35.12%

-24.75%

-10.37%

Current Drawdown

Current decline from peak

-0.74%

0.00%

-0.74%

Average Drawdown

Average peak-to-trough decline

-32.73%

-3.83%

-28.90%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.21%

0.88%

+2.33%

Volatility

QQQ vs. QYLD - Volatility Comparison

Invesco QQQ ETF (QQQ) has a higher volatility of 8.58% compared to Global X NASDAQ 100 Covered Call ETF (QYLD) at 4.30%. This indicates that QQQ'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.

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Volatility by Period

QQQQYLDDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.58%

4.30%

+4.28%

Volatility (6M)

Calculated over the trailing 6-month period

14.34%

8.24%

+6.10%

Volatility (1Y)

Calculated over the trailing 1-year period

17.64%

9.49%

+8.15%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.63%

14.81%

+7.82%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.42%

15.54%

+6.88%

QQQ vs. QYLD - Expense Ratio Comparison

QQQ has a 0.18% expense ratio, which is lower than QYLD's 0.60% expense ratio.

Dividends

QQQ vs. QYLD - Dividend Comparison

QQQ's dividend yield for the trailing twelve months is around 0.38%, less than QYLD's 11.22% yield.

PositionTTM20252024202320222021202020192018201720162015
QQQ
Invesco QQQ ETF		0.38%0.45%0.56%0.62%0.80%0.43%0.55%0.74%0.91%0.84%1.06%0.99%
QYLD
Global X NASDAQ 100 Covered Call ETF		11.22%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

QQQ and QYLD have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

QQQ has higher volatility (8.58%) compared to QYLD (4.30%). In terms of maximum drawdown, QQQ dropped -82.97% vs QYLD's -24.75%.

On 10-year performance, QQQ leads with 22.17% vs 10.07% for QYLD. On fees, QQQ is cheaper at 0.18% per year. On volatility, QYLD has been the lower-risk option at 4.30%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, QQQ has performed better with a 22.17% return vs 10.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

QQQ is cheaper with a 0.18% expense ratio, compared with 0.60% for QYLD.

QYLD has the higher dividend yield at 11.22%, compared with 0.38% for QQQ.

QQQ tracks NASDAQ-100 Index, while QYLD tracks CBOE NASDAQ-100 Buy Write V2. They also come from different issuers: Invesco and Global X. Their fees differ too: 0.18% for QQQ and 0.60% for QYLD.

QYLD currently has the higher Sharpe Ratio (2.70 vs 2.32), 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.

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