QYLD vs. ELD
QYLD (Global X NASDAQ 100 Covered Call ETF) and ELD (WisdomTree Emerging Markets Local Debt Fund) are both exchange-traded funds - QYLD is a Nasdaq-100 fund tracking the CBOE NASDAQ-100 Buy Write V2, while ELD is a Emerging Markets Bonds fund actively managed by WisdomTree. QYLD is passively managed, while ELD is actively managed. Over the past 10 years, QYLD returned 9.77%/yr vs 2.66%/yr for ELD. At a 0.29 correlation, their price movements are largely independent. QYLD charges 0.60%/yr vs 0.55%/yr for ELD.
Performance
QYLD vs. ELD - 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 ELD's -0.49% return. Over the past 10 years, QYLD has outperformed ELD with an annualized return of 9.77%, while ELD has yielded a comparatively lower 2.66% 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%
ELD
- 1D
- -0.25%
- 1M
- -1.95%
- YTD
- -0.49%
- 6M
- 1.34%
- 1Y
- 9.35%
- 3Y*
- 6.90%
- 5Y*
- 2.01%
- 10Y*
- 2.66%
QYLD vs. ELD - 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% |
ELD WisdomTree Emerging Markets Local Debt Fund | -0.49% | 21.77% | -4.56% | 14.29% | -9.25% | -9.75% | 1.79% | 12.89% | -7.53% | 12.72% |
Correlation
The correlation between QYLD and ELD is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Dec 12, 2013 | 0.29 |
The correlation between QYLD and ELD shifts across timeframes, from 0.28 (3 years) to 0.47 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
QYLD vs. ELD — Risk / Return Rank
QYLD
ELD
QYLD vs. ELD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X NASDAQ 100 Covered Call ETF (QYLD) and WisdomTree Emerging Markets Local Debt Fund (ELD). 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 | ELD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.45 | ||
| Sortino ratioReturn per unit of downside risk | +1.88 | ||
| Omega ratioGain probability vs. loss probability | 1.57 | 1.20 | +0.37 |
| Calmar ratioReturn relative to maximum drawdown | 4.54 | 1.31 | +3.22 |
| Martin ratioReturn relative to average drawdown | 26.31 | 4.55 | +21.76 |
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 | ELD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.56 | 1.10 | +1.45 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.56 | 0.18 | +0.38 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.63 | 0.24 | +0.39 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.59 | 0.12 | +0.47 |
Drawdowns
QYLD vs. ELD - Drawdown Comparison
The maximum QYLD drawdown since its inception was -24.75%, smaller than the maximum ELD drawdown of -31.92%. Use the drawdown chart below to compare losses from any high point for QYLD and ELD.
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Drawdown Indicators
| QYLD | ELD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.75% | -31.92% | +7.17% |
Max Drawdown (1Y)Largest decline over 1 year | -4.97% | -7.15% | +2.18% |
Max Drawdown (3Y)Largest decline over 3 years | -19.06% | -10.89% | -8.17% |
Max Drawdown (5Y)Largest decline over 5 years | -24.61% | -23.56% | -1.05% |
Max Drawdown (10Y)Largest decline over 10 years | -24.75% | -25.15% | +0.40% |
Current DrawdownCurrent decline from peak | -0.83% | -3.94% | +3.11% |
Average DrawdownAverage peak-to-trough decline | -3.83% | -13.30% | +9.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.86% | 2.06% | -1.20% |
Volatility
QYLD vs. ELD - Volatility Comparison
Global X NASDAQ 100 Covered Call ETF (QYLD) has a higher volatility of 2.86% compared to WisdomTree Emerging Markets Local Debt Fund (ELD) at 2.72%. This indicates that QYLD's price experiences larger fluctuations and is considered to be riskier than ELD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QYLD | ELD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.86% | 2.72% | +0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 7.44% | 7.16% | +0.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.84% | 8.54% | +0.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.73% | 10.94% | +3.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.51% | 11.26% | +4.25% |
QYLD vs. ELD - Expense Ratio Comparison
QYLD has a 0.60% expense ratio, which is higher than ELD's 0.55% expense ratio.
Dividends
QYLD vs. ELD - Dividend Comparison
QYLD's dividend yield for the trailing twelve months is around 11.55%, more than ELD's 5.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ELD WisdomTree Emerging Markets Local Debt Fund | 5.89% | 5.38% | 5.75% | 4.85% | 5.29% | 4.98% | 4.70% | 4.92% | 6.30% | 4.68% | 4.86% | 5.57% |
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 ELD have a correlation of 0.47, 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 ELD (2.72%). In terms of maximum drawdown, QYLD dropped -24.75% vs ELD's -31.92%.
On 10-year performance, QYLD leads with 9.77% vs 2.66% for ELD. On fees, ELD is cheaper at 0.55% per year. On volatility, ELD has been the lower-risk option at 2.72%. 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 2.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ELD is cheaper with a 0.55% expense ratio, compared with 0.60% for QYLD.
QYLD has the higher dividend yield at 11.55%, compared with 5.89% for ELD.
QYLD is categorized as Nasdaq-100, while ELD is Emerging Markets Bonds. They also come from different issuers: Global X and WisdomTree. Their fees differ too: 0.60% for QYLD and 0.55% for ELD.
QYLD currently has the higher Sharpe Ratio (2.56 vs 1.10), 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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