QRMI vs. XYLD

Last updated Jun 4, 2026

QRMI (Global X NASDAQ 100 Risk Managed Income ETF) and XYLD (Global X S&P 500 Covered Call ETF) are both exchange-traded funds - QRMI is a Nasdaq-100 fund actively managed by Global X, while XYLD is a Derivative Income fund tracking the Cboe S&P 500 BuyWrite Index. QRMI is actively managed, while XYLD is passively managed. Over the past 3 years, QRMI returned 7.02%/yr vs 11.27%/yr for XYLD. A 0.75 correlation means they provide meaningful diversification when combined. Both charge a 0.60% expense ratio.

Performance

QRMI vs. XYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X NASDAQ 100 Risk Managed Income ETF (QRMI) and Global X S&P 500 Covered Call ETF (XYLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QRMI achieves a 2.60% return, which is significantly lower than XYLD's 4.96% return.

QRMI

• 1D: 0.20%
• 1M: 1.85%
• YTD: 2.60%
• 6M: 3.95%
• 1Y: 9.73%
• 3Y*: 7.02%
• 5Y*: —
• 10Y*: —

XYLD

• 1D: -0.15%
• 1M: 2.00%
• YTD: 4.96%
• 6M: 6.48%
• 1Y: 17.66%
• 3Y*: 11.27%
• 5Y*: 7.72%
• 10Y*: 8.25%

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

QRMI vs. XYLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
QRMI Global X NASDAQ 100 Risk Managed Income ETF	2.60%	3.76%	14.72%	11.73%	-18.50%	-1.88%
XYLD Global X S&P 500 Covered Call ETF	4.96%	8.02%	19.49%	11.10%	-12.05%	5.13%

Correlation

The correlation between QRMI and XYLD is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (All Time) Calculated using the full available price history since Aug 27, 2021	0.75

The correlation between QRMI and XYLD has been stable across timeframes, ranging from 0.72 to 0.80 - a consistent structural relationship.

QRMI vs. XYLD - Sectors Allocation Comparison

Sectors	QRMI	XYLD
Technology	53.8%	35.6%
Communication Services	15.8%	11.2%
Consumer Cyclical	12.2%	10.2%
Consumer Defensive	7.7%	4.9%
Healthcare	4.2%	8.5%
Industrials	2.8%	8.3%
Utilities	1.4%	2.3%
Basic Materials	1.1%	1.8%
Energy	0.6%	3.5%
Financial Services	0.2%	11.8%
Real Estate	0.1%	1.9%

Return for Risk

QRMI vs. XYLD — Risk / Return Rank

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

QRMI

QRMI Risk / Return Rank: 48
QRMI Sharpe Ratio Rank: 49
QRMI Sortino Ratio Rank: 46
QRMI Omega Ratio Rank: 56
QRMI Calmar Ratio Rank: 39
QRMI Martin Ratio Rank: 50

XYLD

XYLD Risk / Return Rank: 82
XYLD Sharpe Ratio Rank: 81
XYLD Sortino Ratio Rank: 84
XYLD Omega Ratio Rank: 92
XYLD Calmar Ratio Rank: 66
XYLD Martin Ratio Rank: 85

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.

QRMI vs. XYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X NASDAQ 100 Risk Managed Income ETF (QRMI) and Global X S&P 500 Covered Call ETF (XYLD). 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.

	QRMI	XYLD	Difference
Sharpe ratio: Return per unit of total volatility	1.71	2.71	-1.00
Sortino ratio: Return per unit of downside risk	2.30	3.87	-1.57
Omega ratio: Gain probability vs. loss probability	1.35	1.64	-0.30
Calmar ratio: Return relative to maximum drawdown	1.94	3.35	-1.42
Martin ratio: Return relative to average drawdown	8.52	17.84	-9.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QRMI vs. XYLD - Sharpe Ratio Comparison

The current QRMI Sharpe Ratio is 1.71, which is lower than the XYLD Sharpe Ratio of 2.71. The chart below compares the historical Sharpe Ratios of QRMI and XYLD, 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

	QRMI	XYLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.71	2.71	-1.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.69	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.58	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	0.60	-0.38

Drawdowns

QRMI vs. XYLD - Drawdown Comparison

The maximum QRMI drawdown since its inception was -20.95%, smaller than the maximum XYLD drawdown of -33.46%. Use the drawdown chart below to compare losses from any high point for QRMI and XYLD.

Drawdown Indicators

	QRMI	XYLD	Difference
Max Drawdown Largest peak-to-trough decline	-20.95%	-33.46%	+12.51%
Max Drawdown (1Y) Largest decline over 1 year	-5.04%	-5.29%	+0.25%
Max Drawdown (3Y) Largest decline over 3 years	-8.43%	-15.53%	+7.10%
Max Drawdown (5Y) Largest decline over 5 years	—	-18.66%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.46%	—
Current Drawdown Current decline from peak	0.00%	-0.15%	+0.15%
Average Drawdown Average peak-to-trough decline	-7.98%	-3.72%	-4.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.14%	0.99%	+0.15%

Volatility

QRMI vs. XYLD - Volatility Comparison

The current volatility for Global X NASDAQ 100 Risk Managed Income ETF (QRMI) is 0.66%, while Global X S&P 500 Covered Call ETF (XYLD) has a volatility of 0.88%. This indicates that QRMI experiences smaller price fluctuations and is considered to be less risky than XYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QRMI	XYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.66%	0.88%	-0.22%
Volatility (6M) Calculated over the trailing 6-month period	4.43%	5.37%	-0.94%
Volatility (1Y) Calculated over the trailing 1-year period	5.76%	6.55%	-0.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.34%	11.22%	-2.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.34%	14.21%	-5.87%

QRMI vs. XYLD - Expense Ratio Comparison

Both QRMI and XYLD have an expense ratio of 0.60%.

Dividends

QRMI vs. XYLD - Dividend Comparison

QRMI's dividend yield for the trailing twelve months is around 12.19%, more than XYLD's 10.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QRMI Global X NASDAQ 100 Risk Managed Income ETF	12.19%	12.28%	11.80%	12.44%	10.65%	3.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XYLD Global X S&P 500 Covered Call ETF	10.52%	10.51%	11.54%	10.51%	13.43%	9.07%	7.93%	5.76%	7.12%	5.18%	3.23%	4.65%

Frequently Asked Questions

Can I hold both QRMI and XYLD in my portfolio?

QRMI and XYLD have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QRMI or XYLD?

XYLD has higher volatility (0.88%) compared to QRMI (0.66%). In terms of maximum drawdown, QRMI dropped -20.95% vs XYLD's -33.46%.

Which ETF is better, QRMI or XYLD?

On 3-year performance, XYLD leads with 11.27% vs 7.02% for QRMI. Both ETFs have the same 0.60% expense ratio. On volatility, QRMI has been the lower-risk option at 0.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QRMI or XYLD?

Over the 3-year period, XYLD has performed better with a 11.27% return vs 7.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QRMI or XYLD?

QRMI and XYLD have the same expense ratio: 0.60% per year.

Which ETF pays a higher dividend yield, QRMI or XYLD?

QRMI has the higher dividend yield at 12.19%, compared with 10.52% for XYLD.

What is the main difference between QRMI and XYLD?

QRMI is categorized as Nasdaq-100, while XYLD is Derivative Income.

Which has better risk-adjusted returns?

XYLD currently has the higher Sharpe Ratio (2.71 vs 1.71), 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.