QQQX vs. QYLG
QQQX (Nuveen Nasdaq 100 Dynamic Overwrite Fund) and QYLG (Global X Nasdaq 100 Covered Call & Growth ETF) are both funds - QQQX is a Derivative Income fund actively managed by Nuveen, while QYLG is a Nasdaq-100 fund tracking the CBOE Nasdaq-100 BuyWrite V2 Index. QQQX is actively managed, while QYLG is passively managed. Over the past 5 years, QQQX returned 8.34%/yr vs 12.12%/yr for QYLG. Their correlation of 0.80 suggests significant overlap in exposure. QQQX charges 0.89%/yr vs 0.60%/yr for QYLG.
Performance
QQQX vs. QYLG - Performance Comparison
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Returns By Period
In the year-to-date period, QQQX achieves a 7.43% return, which is significantly lower than QYLG's 12.38% return.
QQQX
- 1D
- -2.09%
- 1M
- -2.20%
- YTD
- 7.43%
- 6M
- 7.82%
- 1Y
- 25.88%
- 3Y*
- 14.83%
- 5Y*
- 8.34%
- 10Y*
- 13.43%
QYLG
- 1D
- -2.59%
- 1M
- 0.48%
- YTD
- 12.38%
- 6M
- 11.55%
- 1Y
- 29.18%
- 3Y*
- 20.15%
- 5Y*
- 12.12%
- 10Y*
- —
QQQX vs. QYLG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
QQQX Nuveen Nasdaq 100 Dynamic Overwrite Fund | 7.43% | 14.87% | 25.61% | 21.68% | -27.39% | 25.32% | 10.02% |
QYLG Global X Nasdaq 100 Covered Call & Growth ETF | 12.38% | 15.29% | 22.02% | 38.73% | -26.27% | 18.29% | 13.88% |
Correlation
The correlation between QQQX and QYLG is 0.83, 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 | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2020 | 0.80 |
The correlation between QQQX and QYLG has been stable across timeframes, ranging from 0.80 to 0.83 - a consistent structural relationship.
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Return for Risk
QQQX vs. QYLG — Risk / Return Rank
QQQX
QYLG
QQQX vs. QYLG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Nasdaq 100 Dynamic Overwrite Fund (QQQX) 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.
| QQQX | QYLG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.43 | ||
| Sortino ratioReturn per unit of downside risk | -0.44 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.39 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.85 | 3.48 | -0.63 |
| Martin ratioReturn relative to average drawdown | 12.24 | 15.22 | -2.98 |
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Drawdowns
QQQX vs. QYLG - Drawdown Comparison
The maximum QQQX drawdown since its inception was -57.25%, which is greater than QYLG's maximum drawdown of -29.98%. Use the drawdown chart below to compare losses from any high point for QQQX and QYLG.
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Drawdown Indicators
| QQQX | QYLG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.25% | -29.98% | -27.27% |
Max Drawdown (1Y)Largest decline over 1 year | -9.11% | -8.42% | -0.69% |
Max Drawdown (3Y)Largest decline over 3 years | -22.80% | -20.75% | -2.05% |
Max Drawdown (5Y)Largest decline over 5 years | -29.33% | -29.98% | +0.65% |
Max Drawdown (10Y)Largest decline over 10 years | -35.96% | — | — |
Current DrawdownCurrent decline from peak | -5.62% | -2.94% | -2.68% |
Average DrawdownAverage peak-to-trough decline | -8.01% | -6.37% | -1.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.12% | 1.92% | +0.20% |
Volatility
QQQX vs. QYLG - Volatility Comparison
The current volatility for Nuveen Nasdaq 100 Dynamic Overwrite Fund (QQQX) is 6.07%, while Global X Nasdaq 100 Covered Call & Growth ETF (QYLG) has a volatility of 6.71%. This indicates that QQQX experiences smaller price fluctuations and is considered to be less risky than QYLG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QQQX | QYLG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.07% | 6.71% | -0.64% |
Volatility (6M)Calculated over the trailing 6-month period | 12.46% | 11.50% | +0.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.14% | 13.67% | +1.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.94% | 18.19% | +1.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.11% | 18.05% | +3.06% |
QQQX vs. QYLG - Expense Ratio Comparison
QQQX has a 0.89% expense ratio, which is higher than QYLG's 0.60% expense ratio.
Dividends
QQQX vs. QYLG - Dividend Comparison
QQQX's dividend yield for the trailing twelve months is around 8.45%, less than QYLG's 16.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QQQX Nuveen Nasdaq 100 Dynamic Overwrite Fund | 8.45% | 7.85% | 6.73% | 7.26% | 9.66% | 5.85% | 6.00% | 6.49% | 8.40% | 5.95% | 7.54% | 7.23% |
QYLG Global X Nasdaq 100 Covered Call & Growth ETF | 16.69% | 17.93% | 25.27% | 5.43% | 6.91% | 10.15% | 1.44% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
QQQX and QYLG have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QYLG has higher volatility (6.71%) compared to QQQX (6.07%). In terms of maximum drawdown, QQQX dropped -57.25% vs QYLG's -29.98%.
QYLG currently has the higher Sharpe Ratio (2.15 vs 1.72), 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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