QYLD vs. GLDI
QYLD (Global X NASDAQ 100 Covered Call ETF) and GLDI (Credit Suisse X-Links Gold Shares Covered Call ETN) are both exchange-traded funds - QYLD is a Nasdaq-100 fund tracking the CBOE NASDAQ-100 Buy Write V2, while GLDI is a Precious Metals fund tracking the Credit Suisse NASDAQ Gold FLOWS 103 Index. Both are passively managed. Over the past 10 years, QYLD returned 9.76%/yr vs 8.20%/yr for GLDI. At a 0.04 correlation, their price movements are largely independent. QYLD charges 0.60%/yr vs 0.65%/yr for GLDI.
Performance
QYLD vs. GLDI - Performance Comparison
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Returns By Period
In the year-to-date period, QYLD achieves a 7.64% return, which is significantly higher than GLDI's -2.64% return. Over the past 10 years, QYLD has outperformed GLDI with an annualized return of 9.76%, while GLDI has yielded a comparatively lower 8.20% annualized return.
QYLD
- 1D
- 0.56%
- 1M
- 0.78%
- YTD
- 7.64%
- 6M
- 9.41%
- 1Y
- 22.69%
- 3Y*
- 13.61%
- 5Y*
- 8.28%
- 10Y*
- 9.76%
GLDI
- 1D
- 0.42%
- 1M
- -6.93%
- YTD
- -2.64%
- 6M
- -2.08%
- 1Y
- 14.82%
- 3Y*
- 17.80%
- 5Y*
- 10.20%
- 10Y*
- 8.20%
QYLD vs. GLDI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
QYLD Global X NASDAQ 100 Covered Call ETF | 7.64% | 9.28% | 19.35% | 22.77% | -19.08% | 10.41% | 8.72% | 22.69% | -3.07% | 18.79% |
GLDI Credit Suisse X-Links Gold Shares Covered Call ETN | -2.64% | 34.25% | 17.76% | 8.93% | -1.11% | -3.42% | 23.50% | 14.40% | -0.54% | 8.94% |
Correlation
The correlation between QYLD and GLDI is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Dec 12, 2013 | 0.04 |
Over the past year, QYLD and GLDI have become more correlated (0.26) than their long-term average of 0.04, meaning their price movements have been converging.
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Return for Risk
QYLD vs. GLDI — Risk / Return Rank
QYLD
GLDI
QYLD vs. GLDI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X NASDAQ 100 Covered Call ETF (QYLD) and Credit Suisse X-Links Gold Shares Covered Call ETN (GLDI). 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 | GLDI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.54 | ||
| Sortino ratioReturn per unit of downside risk | +2.21 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.20 | +0.35 |
| Calmar ratioReturn relative to maximum drawdown | 4.59 | 1.05 | +3.53 |
| Martin ratioReturn relative to average drawdown | 25.84 | 3.77 | +22.07 |
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Drawdowns
QYLD vs. GLDI - Drawdown Comparison
The maximum QYLD drawdown since its inception was -24.75%, smaller than the maximum GLDI drawdown of -32.26%. Use the drawdown chart below to compare losses from any high point for QYLD and GLDI.
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Drawdown Indicators
| QYLD | GLDI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.75% | -32.26% | +7.51% |
Max Drawdown (1Y)Largest decline over 1 year | -4.97% | -14.14% | +9.17% |
Max Drawdown (3Y)Largest decline over 3 years | -19.06% | -14.14% | -4.92% |
Max Drawdown (5Y)Largest decline over 5 years | -24.61% | -14.14% | -10.47% |
Max Drawdown (10Y)Largest decline over 10 years | -24.75% | -14.94% | -9.81% |
Current DrawdownCurrent decline from peak | -0.28% | -11.63% | +11.35% |
Average DrawdownAverage peak-to-trough decline | -3.83% | -13.99% | +10.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.88% | 3.94% | -3.06% |
Volatility
QYLD vs. GLDI - Volatility Comparison
The current volatility for Global X NASDAQ 100 Covered Call ETF (QYLD) is 3.82%, while Credit Suisse X-Links Gold Shares Covered Call ETN (GLDI) has a volatility of 6.70%. This indicates that QYLD experiences smaller price fluctuations and is considered to be less risky than GLDI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QYLD | GLDI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.82% | 6.70% | -2.88% |
Volatility (6M)Calculated over the trailing 6-month period | 7.84% | 14.24% | -6.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.16% | 15.75% | -6.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.76% | 11.61% | +3.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.52% | 11.50% | +4.02% |
QYLD vs. GLDI - Expense Ratio Comparison
QYLD has a 0.60% expense ratio, which is lower than GLDI's 0.65% expense ratio.
Dividends
QYLD vs. GLDI - Dividend Comparison
QYLD's dividend yield for the trailing twelve months is around 11.48%, less than GLDI's 23.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GLDI Credit Suisse X-Links Gold Shares Covered Call ETN | 23.45% | 16.15% | 10.45% | 10.02% | 13.73% | 10.65% | 14.25% | 7.25% | 5.33% | 7.77% | 17.26% | 10.07% |
QYLD Global X NASDAQ 100 Covered Call ETF | 11.48% | 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 GLDI have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLDI has higher volatility (6.70%) compared to QYLD (3.82%). In terms of maximum drawdown, QYLD dropped -24.75% vs GLDI's -32.26%.
On 10-year performance, QYLD leads with 9.76% vs 8.20% for GLDI. On fees, QYLD is cheaper at 0.60% per year. On volatility, QYLD has been the lower-risk option at 3.82%. 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 9.76% return vs 8.20%. 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 0.65% for GLDI.
GLDI has the higher dividend yield at 23.45%, compared with 11.48% for QYLD.
QYLD is categorized as Nasdaq-100, while GLDI is Precious Metals. QYLD tracks CBOE NASDAQ-100 Buy Write V2, while GLDI tracks Credit Suisse NASDAQ Gold FLOWS 103 Index. They also come from different issuers: Global X and Credit Suisse. Their fees differ too: 0.60% for QYLD and 0.65% for GLDI.
QYLD currently has the higher Sharpe Ratio (2.49 vs 0.95), 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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