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QTR vs. QYLD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QTR vs. QYLD

Last updated Aug 2, 2026
Documentation

QTR (Global X NASDAQ 100 Tail Risk ETF) and QYLD (Global X NASDAQ 100 Covered Call ETF) are both Nasdaq-100 funds from Global X - QTR tracks the NASDAQ-100 Quarterly Protective Put 90 Index while QYLD tracks the CBOE NASDAQ-100 Buy Write V2. Both are passively managed. Over the past 3 years, QTR returned 17.27%/yr vs 12.32%/yr for QYLD. Their correlation of 0.81 means they have usually moved in the same direction. Both charge a 0.60% expense ratio.

Performance

QTR vs. QYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X NASDAQ 100 Tail Risk ETF (QTR) 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, QTR achieves a 9.22% return, which is significantly higher than QYLD's 7.67% return.

QTR

1D
0.35%
1M
-3.59%
6M
8.37%
YTD
9.22%
1Y
19.33%
3Y*
17.27%
5Y*
—
10Y*
—
ALL TIME*
10.19%

QYLD

1D
0.65%
1M
-0.98%
6M
5.88%
YTD
7.67%
1Y
20.66%
3Y*
12.32%
5Y*
7.83%
10Y*
9.59%
ALL TIME*
8.57%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

QTR

Global X NASDAQ 100 Tail Risk ETF
$20.65K$23.70K$62.72K

QYLD

Global X NASDAQ 100 Covered Call ETF
$83.30M$78.68M$98.28M

QTR vs. QYLD - Yearly Performance Comparison

2026 (YTD)20252024202320222021
QTR
Global X NASDAQ 100 Tail Risk ETF		9.22%14.52%21.46%45.53%-29.94%4.16%
QYLD
Global X NASDAQ 100 Covered Call ETF		7.67%9.28%19.35%22.77%-19.08%1.77%

Correlation

The correlation between QTR and QYLD is 0.89, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.89

Correlation (3Y)
Balances recent behavior with more history.

0.86

Correlation (All Time)
Calculated using the full available price history since Aug 26, 2021

0.81

The correlation between QTR and QYLD has been stable across timeframes, ranging from 0.81 to 0.89 - a consistent structural relationship.

QTR vs. QYLD - Sectors Allocation Comparison

Sectors
QTR
QYLD

Technology

60.9%
61.4%

Communication Services

13.1%
12.5%

Consumer Cyclical

10.7%
10.2%

Consumer Defensive

6.2%
6.7%

Healthcare

3.6%
3.8%

Industrials

2.7%
4.4%

Utilities

1.1%
1.3%

Basic Materials

1.0%
1.1%

Energy

0.5%
0.5%

Financial Services

0.2%
0.2%

Real Estate

0.1%
0.1%

Technology

QTR
60.9%
QYLD
61.4%

Communication Services

QTR
13.1%
QYLD
12.5%

Consumer Cyclical

QTR
10.7%
QYLD
10.2%

Consumer Defensive

QTR
6.2%
QYLD
6.7%

Healthcare

QTR
3.6%
QYLD
3.8%

Industrials

QTR
2.7%
QYLD
4.4%

Utilities

QTR
1.1%
QYLD
1.3%

Basic Materials

QTR
1.0%
QYLD
1.1%

Energy

QTR
0.5%
QYLD
0.5%

Financial Services

QTR
0.2%
QYLD
0.2%

Real Estate

QTR
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.

Global X NASDAQ 100 Tail Risk ETF

Global X NASDAQ 100 Covered Call ETF

Often compared with QTR:
QTR vs. QQQQTR vs. DBMFQTR vs. TAILQTR vs. QCLRQTR vs. XYLGQTR vs. JEPQQTR vs. SPY
Often compared with QYLD:
QYLD vs. JEPQQYLD vs. JEPIQYLD vs. QQQQYLD vs. XYLDQYLD vs. RYLDQYLD vs. SCHDQYLD vs. QYLG

Return for Risk

QTR vs. QYLD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
QTR
QTR Risk / Return Rank: 4040
Overall Rank
QTR Sharpe Ratio Rank: 4242
Sharpe Ratio Rank
QTR Sortino Ratio Rank: 4040
Sortino Ratio Rank
QTR Omega Ratio Rank: 3939
Omega Ratio Rank
QTR Calmar Ratio Rank: 4040
Calmar Ratio Rank
QTR Martin Ratio Rank: 4040
Martin Ratio Rank
QYLD
QYLD Risk / Return Rank: 8383
Overall Rank
QYLD Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
QYLD Sortino Ratio Rank: 7777
Sortino Ratio Rank
QYLD Omega Ratio Rank: 8383
Omega Ratio Rank
QYLD Calmar Ratio Rank: 8686
Calmar Ratio Rank
QYLD Martin Ratio Rank: 9292
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

QTR vs. QYLD - Risk-Adjusted Trends Comparison

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

QTRQYLDDifference
Sharpe ratioReturn per unit of total volatility
1.04
1.73

-0.69

Sortino ratioReturn per unit of downside risk
1.50
2.48

-0.98

Omega ratioGain probability vs. loss probability

1.18

1.35

-0.17

Calmar ratioReturn relative to maximum drawdown

1.41

3.38

-1.97

Martin ratioReturn relative to average drawdown

4.26

15.70

-11.45

QTR vs. QYLD - Sharpe Ratio Comparison

The current QTR Sharpe Ratio is 1.04, which is lower than the QYLD Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of QTR 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

QTR vs. QYLD - Drawdown Comparison

The maximum QTR drawdown since its inception was -31.72%, which is greater than QYLD's maximum drawdown of -24.75%. Use the drawdown chart below to compare losses from any high point for QTR and QYLD.

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Drawdown Indicators

QTRQYLDDifference

Max Drawdown

Largest peak-to-trough decline

-31.72%

-24.75%

-6.97%

Max Drawdown (1Y)

Largest decline over 1 year

-12.29%

-5.78%

-6.51%

Max Drawdown (3Y)

Largest decline over 3 years

-18.99%

-19.06%

+0.07%

Max Drawdown (5Y)

Largest decline over 5 years

—

-24.61%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-24.75%

—

Current Drawdown

Current decline from peak

-7.38%

-2.96%

-4.42%

Average Drawdown

Average peak-to-trough decline

-8.69%

-3.81%

-4.88%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.06%

1.24%

+2.82%

Volatility

QTR vs. QYLD - Volatility Comparison

The current volatility for Global X NASDAQ 100 Tail Risk ETF (QTR) is 4.46%, while Global X NASDAQ 100 Covered Call ETF (QYLD) has a volatility of 5.19%. This indicates that QTR experiences smaller price fluctuations and is considered to be less risky 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

QTRQYLDDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.46%

5.19%

-0.73%

Volatility (6M)

Calculated over the trailing 6-month period

13.49%

10.04%

+3.45%

Volatility (1Y)

Calculated over the trailing 1-year period

16.64%

11.26%

+5.38%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.30%

15.04%

+3.26%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.30%

15.63%

+2.67%

QTR vs. QYLD - Expense Ratio Comparison

Both QTR and QYLD have an expense ratio of 0.60%.

Dividends

QTR vs. QYLD - Dividend Comparison

QTR's dividend yield for the trailing twelve months is around 17.10%, more than QYLD's 11.89% yield.

PositionTTM20252024202320222021202020192018201720162015
QTR
Global X NASDAQ 100 Tail Risk ETF		17.10%18.77%0.50%0.53%0.36%1.90%0.00%0.00%0.00%0.00%0.00%0.00%
QYLD
Global X NASDAQ 100 Covered Call ETF		11.89%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

QTR and QYLD have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

QYLD has higher volatility (5.19%) compared to QTR (4.46%). In terms of maximum drawdown, QTR dropped -31.72% vs QYLD's -24.75%.

On 3-year performance, QTR leads with 17.27% vs 12.32% for QYLD. Both ETFs have the same 0.60% expense ratio. On volatility, QTR has been the lower-risk option at 4.46%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, QTR has performed better with a 17.27% return vs 12.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

QTR and QYLD have the same expense ratio: 0.60% per year.

QTR has the higher dividend yield at 17.10%, compared with 11.89% for QYLD.

QTR tracks NASDAQ-100 Quarterly Protective Put 90 Index, while QYLD tracks CBOE NASDAQ-100 Buy Write V2.

QYLD currently has the higher Sharpe Ratio (1.73 vs 1.04), 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.

Portfolio Optimizer

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