QTR vs. QNDX

Last updated Jul 18, 2026

QTR (Global X NASDAQ 100 Tail Risk ETF) and QNDX (SPDR Portfolio Nasdaq 100 ETF) are both Nasdaq-100 funds - QTR tracks the NASDAQ-100 Quarterly Protective Put 90 Index while QNDX tracks the Nasdaq-100 Index. Both are passively managed. With a 0.98 correlation, they move nearly in lockstep. QTR charges 0.60%/yr vs 0.10%/yr for QNDX.

Performance

QTR vs. QNDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X NASDAQ 100 Tail Risk ETF (QTR) and SPDR Portfolio Nasdaq 100 ETF (QNDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

QTR

• 1D: -0.90%
• 1M: -2.94%
• 6M: 9.89%
• YTD: 10.83%
• 1Y: 19.51%
• 3Y*: 17.44%
• 5Y*: —
• 10Y*: —

QNDX

• 1D: -1.55%
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QTR vs. QNDX - Yearly Performance Comparison

	2026 (YTD)
QTR Global X NASDAQ 100 Tail Risk ETF	-2.78%
QNDX SPDR Portfolio Nasdaq 100 ETF	-2.69%

Correlation

The correlation between QTR and QNDX is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 24, 2026	0.98

Return for Risk

QTR vs. QNDX — Risk / Return Rank

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

QTR

QTR Risk / Return Rank: 40
QTR Sharpe Ratio Rank: 42
QTR Sortino Ratio Rank: 39
QTR Omega Ratio Rank: 39
QTR Calmar Ratio Rank: 38
QTR Martin Ratio Rank: 41

QNDX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

QTR vs. QNDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X NASDAQ 100 Tail Risk ETF (QTR) and SPDR Portfolio Nasdaq 100 ETF (QNDX). 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.

	QTR	QNDX	Difference
Sharpe ratio: Return per unit of total volatility	1.20	—	—
Sortino ratio: Return per unit of downside risk	1.69	—	—
Omega ratio: Gain probability vs. loss probability	1.21	—	—
Calmar ratio: Return relative to maximum drawdown	1.59	—	—
Martin ratio: Return relative to average drawdown	5.15	—	—

Drawdowns

QTR vs. QNDX - Drawdown Comparison

The maximum QTR drawdown since its inception was -31.72%, which is greater than QNDX's maximum drawdown of -5.57%. Use the drawdown chart below to compare losses from any high point for QTR and QNDX.

Drawdown Indicators

	QTR	QNDX	Difference
Max Drawdown Largest peak-to-trough decline	-31.72%	-5.57%	-26.15%
Max Drawdown (1Y) Largest decline over 1 year	-12.29%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-18.99%	—	—
Current Drawdown Current decline from peak	-6.02%	-5.57%	-0.45%
Average Drawdown Average peak-to-trough decline	-8.70%	-2.13%	-6.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.80%	—	—

Volatility

Volatility by Period

	QTR	QNDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.58%	—	—
Volatility (6M) Calculated over the trailing 6-month period	13.36%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	16.39%	22.40%	-6.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.32%	22.40%	-4.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.32%	22.40%	-4.08%

QTR vs. QNDX - Expense Ratio Comparison

QTR has a 0.60% expense ratio, which is higher than QNDX's 0.10% expense ratio.

Dividends

QTR vs. QNDX - Dividend Comparison

QTR's dividend yield for the trailing twelve months is around 16.85%, while QNDX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
QNDX SPDR Portfolio Nasdaq 100 ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QTR Global X NASDAQ 100 Tail Risk ETF	16.85%	18.77%	0.50%	0.53%	0.36%	1.90%

Frequently Asked Questions

Can I hold both QTR and QNDX in my portfolio?

With a correlation of 0.98, QTR and QNDX 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.

Which ETF is better, QTR or QNDX?

On fees, QNDX is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QTR or QNDX?

QNDX is cheaper with a 0.10% expense ratio, compared with 0.60% for QTR.

Which ETF pays a higher dividend yield, QTR or QNDX?

QTR has the higher dividend yield at 16.85%, compared with 0.00% for QNDX.

What is the main difference between QTR and QNDX?

QTR tracks NASDAQ-100 Quarterly Protective Put 90 Index, while QNDX tracks Nasdaq-100 Index. They also come from different issuers: Global X and State Street. Their fees differ too: 0.60% for QTR and 0.10% for QNDX.