QQQX vs. QYLG
Compare and contrast key facts about Nuveen Nasdaq 100 Dynamic Overwrite Fund (QQQX) and Global X Nasdaq 100 Covered Call & Growth ETF (QYLG).
QYLG is a passively managed fund by Global X that tracks the performance of the CBOE Nasdaq-100 BuyWrite V2 Index. It was launched on Sep 18, 2020.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: QQQX or QYLG.
Key characteristics
| QQQX | QYLG | |
|---|---|---|
| YTD Return | 4.86% | 8.06% |
| 1Y Return | 2.43% | 23.92% |
| 3Y Return (Ann) | 2.60% | 10.69% |
| Sharpe Ratio | 0.29 | 2.09 |
| Daily Std Dev | 15.55% | 12.22% |
| Max Drawdown | -57.25% | -30.12% |
| Current Drawdown | -7.89% | -0.03% |
Correlation
The correlation between QQQX and QYLG is 0.79, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
QQQX vs. QYLG - Performance Comparison
In the year-to-date period, QQQX achieves a 4.86% return, which is significantly lower than QYLG's 8.06% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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Risk-Adjusted Performance
QQQX vs. QYLG - Risk-Adjusted Performance 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.
Dividends
QQQX vs. QYLG - Dividend Comparison
QQQX's dividend yield for the trailing twelve months is around 7.04%, more than QYLG's 5.51% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QQQX Nuveen Nasdaq 100 Dynamic Overwrite Fund | 7.04% | 7.26% | 9.66% | 5.85% | 6.00% | 6.49% | 8.40% | 5.95% | 7.54% | 7.23% | 7.07% | 6.79% |
QYLG Global X Nasdaq 100 Covered Call & Growth ETF | 5.51% | 5.43% | 6.51% | 15.18% | 1.44% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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 -30.12%. Use the drawdown chart below to compare losses from any high point for QQQX and QYLG. For additional features, visit the drawdowns tool.
Volatility
QQQX vs. QYLG - Volatility Comparison
Nuveen Nasdaq 100 Dynamic Overwrite Fund (QQQX) has a higher volatility of 4.08% compared to Global X Nasdaq 100 Covered Call & Growth ETF (QYLG) at 3.76%. This indicates that QQQX's price experiences larger fluctuations and is considered to be riskier than QYLG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.