QYLD vs. BIL
QYLD (Global X NASDAQ 100 Covered Call ETF) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both exchange-traded funds - QYLD is a Nasdaq-100 fund tracking the CBOE NASDAQ-100 Buy Write V2, while BIL is a Government Bonds fund tracking the Bloomberg 1-3 Month U.S. Treasury Bill Index. Both are passively managed. Over the past 10 years, QYLD returned 9.77%/yr vs 2.19%/yr for BIL. At a 0.00 correlation, their price movements are largely independent. QYLD charges 0.60%/yr vs 0.14%/yr for BIL.
Performance
QYLD vs. BIL - Performance Comparison
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Returns By Period
In the year-to-date period, QYLD achieves a 7.05% return, which is significantly higher than BIL's 1.54% return. Over the past 10 years, QYLD has outperformed BIL with an annualized return of 9.77%, while BIL has yielded a comparatively lower 2.19% annualized return.
QYLD
- 1D
- 1.07%
- 1M
- 0.23%
- YTD
- 7.05%
- 6M
- 8.87%
- 1Y
- 22.45%
- 3Y*
- 13.42%
- 5Y*
- 8.24%
- 10Y*
- 9.77%
BIL
- 1D
- 0.01%
- 1M
- 0.29%
- YTD
- 1.54%
- 6M
- 1.78%
- 1Y
- 3.88%
- 3Y*
- 4.62%
- 5Y*
- 3.42%
- 10Y*
- 2.19%
QYLD vs. BIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
QYLD Global X NASDAQ 100 Covered Call ETF | 7.05% | 9.28% | 19.35% | 22.77% | -19.08% | 10.41% | 8.72% | 22.69% | -3.07% | 18.79% |
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 1.54% | 4.15% | 5.19% | 4.94% | 1.40% | -0.10% | 0.40% | 2.03% | 1.74% | 0.69% |
Correlation
The correlation between QYLD and BIL is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.00 |
Correlation (All Time) Calculated using the full available price history since Dec 12, 2013 | 0.00 |
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Return for Risk
QYLD vs. BIL — Risk / Return Rank
QYLD
BIL
QYLD vs. BIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X NASDAQ 100 Covered Call ETF (QYLD) and SPDR Bloomberg 1-3 Month T-Bill ETF (BIL). 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.
| QYLD | BIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -17.08 | ||
| Sortino ratioReturn per unit of downside risk | -171.13 | ||
| Omega ratioGain probability vs. loss probability | 1.57 | 88.16 | -86.59 |
| Calmar ratioReturn relative to maximum drawdown | 4.54 | 356.40 | -351.86 |
| Martin ratioReturn relative to average drawdown | 26.31 | 2,826.06 | -2,799.75 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| QYLD | BIL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.56 | 19.64 | -17.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.56 | 13.23 | -12.67 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.63 | 8.57 | -7.94 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.59 | 2.78 | -2.19 |
Drawdowns
QYLD vs. BIL - Drawdown Comparison
The maximum QYLD drawdown since its inception was -24.75%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for QYLD and BIL.
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Drawdown Indicators
| QYLD | BIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.75% | -0.78% | -23.97% |
Max Drawdown (1Y)Largest decline over 1 year | -4.97% | -0.01% | -4.96% |
Max Drawdown (3Y)Largest decline over 3 years | -19.06% | -0.01% | -19.05% |
Max Drawdown (5Y)Largest decline over 5 years | -24.61% | -0.09% | -24.52% |
Max Drawdown (10Y)Largest decline over 10 years | -24.75% | -0.21% | -24.54% |
Current DrawdownCurrent decline from peak | -0.83% | 0.00% | -0.83% |
Average DrawdownAverage peak-to-trough decline | -3.83% | -0.26% | -3.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.86% | 0.00% | +0.86% |
Volatility
QYLD vs. BIL - Volatility Comparison
Global X NASDAQ 100 Covered Call ETF (QYLD) has a higher volatility of 2.86% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.06%. This indicates that QYLD's price experiences larger fluctuations and is considered to be riskier than BIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QYLD | BIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.86% | 0.06% | +2.80% |
Volatility (6M)Calculated over the trailing 6-month period | 7.44% | 0.14% | +7.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.84% | 0.20% | +8.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.73% | 0.26% | +14.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.51% | 0.26% | +15.25% |
QYLD vs. BIL - Expense Ratio Comparison
QYLD has a 0.60% expense ratio, which is higher than BIL's 0.14% expense ratio.
Dividends
QYLD vs. BIL - Dividend Comparison
QYLD's dividend yield for the trailing twelve months is around 11.55%, more than BIL's 3.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 3.86% | 4.13% | 5.03% | 4.92% | 1.35% | 0.00% | 0.30% | 2.05% | 1.66% | 0.68% | 0.07% | 0.00% |
QYLD Global X NASDAQ 100 Covered Call ETF | 11.55% | 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
QYLD and BIL have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QYLD has higher volatility (2.86%) compared to BIL (0.06%). In terms of maximum drawdown, QYLD dropped -24.75% vs BIL's -0.78%.
On 10-year performance, QYLD leads with 9.77% vs 2.19% for BIL. On fees, BIL is cheaper at 0.14% per year. On volatility, BIL has been the lower-risk option at 0.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, QYLD has performed better with a 9.77% return vs 2.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BIL is cheaper with a 0.14% expense ratio, compared with 0.60% for QYLD.
QYLD has the higher dividend yield at 11.55%, compared with 3.86% for BIL.
QYLD is categorized as Nasdaq-100, while BIL is Government Bonds. QYLD tracks CBOE NASDAQ-100 Buy Write V2, while BIL tracks Bloomberg 1-3 Month U.S. Treasury Bill Index. They also come from different issuers: Global X and State Street. Their fees differ too: 0.60% for QYLD and 0.14% for BIL.
BIL currently has the higher Sharpe Ratio (19.64 vs 2.56), 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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