QYLD vs. DBC
QYLD (Global X NASDAQ 100 Covered Call ETF) and DBC (Invesco DB Commodity Index Tracking Fund) are both exchange-traded funds - QYLD is a Nasdaq-100 fund tracking the CBOE NASDAQ-100 Buy Write V2, while DBC is a Commodities fund tracking the DBIQ Optimum Yield Diversified Commodity Index Excess Return. Both are passively managed. Over the past 10 years, QYLD returned 9.92%/yr vs 8.13%/yr for DBC. At a 0.17 correlation, their price movements are largely independent. QYLD charges 0.60%/yr vs 0.85%/yr for DBC.
Performance
QYLD vs. DBC - Performance Comparison
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Returns By Period
In the year-to-date period, QYLD achieves a 8.36% return, which is significantly lower than DBC's 26.21% return. Over the past 10 years, QYLD has outperformed DBC with an annualized return of 9.92%, while DBC has yielded a comparatively lower 8.13% annualized return.
QYLD
- 1D
- 0.66%
- 1M
- 2.81%
- YTD
- 8.36%
- 6M
- 10.14%
- 1Y
- 23.80%
- 3Y*
- 13.95%
- 5Y*
- 8.41%
- 10Y*
- 9.92%
DBC
- 1D
- -1.16%
- 1M
- -9.52%
- YTD
- 26.21%
- 6M
- 27.88%
- 1Y
- 28.79%
- 3Y*
- 11.16%
- 5Y*
- 11.38%
- 10Y*
- 8.13%
QYLD vs. DBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
QYLD Global X NASDAQ 100 Covered Call ETF | 8.36% | 9.28% | 19.35% | 22.77% | -19.08% | 10.41% | 8.72% | 22.69% | -3.07% | 18.79% |
DBC Invesco DB Commodity Index Tracking Fund | 26.21% | 8.10% | 2.18% | -6.19% | 19.34% | 41.36% | -7.84% | 11.84% | -11.63% | 4.86% |
Correlation
The correlation between QYLD and DBC is -0.10, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Dec 12, 2013 | 0.17 |
The correlation between QYLD and DBC shifts across timeframes, from -0.10 (1 year) to 0.17 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
QYLD vs. DBC — Risk / Return Rank
QYLD
DBC
QYLD vs. DBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X NASDAQ 100 Covered Call ETF (QYLD) and Invesco DB Commodity Index Tracking Fund (DBC). 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.
| QYLD | DBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.06 | ||
| Sortino ratioReturn per unit of downside risk | +1.54 | ||
| Omega ratioGain probability vs. loss probability | 1.58 | 1.27 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 4.81 | 2.64 | +2.17 |
| Martin ratioReturn relative to average drawdown | 27.11 | 7.94 | +19.17 |
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Drawdowns
QYLD vs. DBC - Drawdown Comparison
The maximum QYLD drawdown since its inception was -24.75%, smaller than the maximum DBC drawdown of -76.36%. Use the drawdown chart below to compare losses from any high point for QYLD and DBC.
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Drawdown Indicators
| QYLD | DBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.75% | -76.36% | +51.61% |
Max Drawdown (1Y)Largest decline over 1 year | -4.97% | -10.95% | +5.98% |
Max Drawdown (3Y)Largest decline over 3 years | -19.06% | -13.82% | -5.24% |
Max Drawdown (5Y)Largest decline over 5 years | -24.61% | -27.34% | +2.73% |
Max Drawdown (10Y)Largest decline over 10 years | -24.75% | -41.71% | +16.96% |
Current DrawdownCurrent decline from peak | 0.00% | -26.99% | +26.99% |
Average DrawdownAverage peak-to-trough decline | -3.83% | -46.19% | +42.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.88% | 3.64% | -2.76% |
Volatility
QYLD vs. DBC - Volatility Comparison
The current volatility for Global X NASDAQ 100 Covered Call ETF (QYLD) is 3.87%, while Invesco DB Commodity Index Tracking Fund (DBC) has a volatility of 5.24%. This indicates that QYLD experiences smaller price fluctuations and is considered to be less risky than DBC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QYLD | DBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.87% | 5.24% | -1.37% |
Volatility (6M)Calculated over the trailing 6-month period | 7.86% | 16.17% | -8.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.19% | 18.79% | -9.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.77% | 19.23% | -4.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.53% | 17.82% | -2.29% |
QYLD vs. DBC - Expense Ratio Comparison
QYLD has a 0.60% expense ratio, which is lower than DBC's 0.85% expense ratio.
Dividends
QYLD vs. DBC - Dividend Comparison
QYLD's dividend yield for the trailing twelve months is around 11.41%, more than DBC's 2.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBC Invesco DB Commodity Index Tracking Fund | 2.64% | 3.33% | 5.22% | 4.94% | 0.59% | 0.00% | 0.00% | 1.59% | 1.30% | 0.00% | 0.00% | 0.00% |
QYLD Global X NASDAQ 100 Covered Call ETF | 11.41% | 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 DBC have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBC has higher volatility (5.24%) compared to QYLD (3.87%). In terms of maximum drawdown, QYLD dropped -24.75% vs DBC's -76.36%.
On 10-year performance, QYLD leads with 9.92% vs 8.13% for DBC. On fees, QYLD is cheaper at 0.60% per year. On volatility, QYLD has been the lower-risk option at 3.87%. 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 9.92% return vs 8.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QYLD is cheaper with a 0.60% expense ratio, compared with 0.85% for DBC.
QYLD has the higher dividend yield at 11.41%, compared with 2.64% for DBC.
QYLD is categorized as Nasdaq-100, while DBC is Commodities. QYLD tracks CBOE NASDAQ-100 Buy Write V2, while DBC tracks DBIQ Optimum Yield Diversified Commodity Index Excess Return. They also come from different issuers: Global X and Invesco. Their fees differ too: 0.60% for QYLD and 0.85% for DBC.
QYLD currently has the higher Sharpe Ratio (2.61 vs 1.54), 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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