QYLD vs. GXPE

Last updated Aug 6, 2026

QYLD (Global X NASDAQ 100 Covered Call ETF) and GXPE (Global X PureCap MSCI Energy ETF) are both exchange-traded funds - QYLD is a Nasdaq-100 fund tracking the CBOE NASDAQ-100 Buy Write V2, while GXPE is a Energy Equities fund tracking the MSCI USA Energy PureCap Index. Both are passively managed. Over the past year, QYLD returned 21.90% vs 37.19% for GXPE. Their -0.14 correlation means they have often moved in opposite directions in the past. QYLD charges 0.60%/yr vs 0.15%/yr for GXPE.

Performance

QYLD vs. GXPE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X NASDAQ 100 Covered Call ETF (QYLD) and Global X PureCap MSCI Energy ETF (GXPE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QYLD achieves a 9.77% return, which is significantly lower than GXPE's 29.57% return.

QYLD

• 1D: 0.00%
• 1M: -0.43%
• 6M: 9.66%
• YTD: 9.77%
• 1Y: 21.90%
• 3Y*: 13.49%
• 5Y*: 8.10%
• 10Y*: 9.76%
• ALL TIME*: 8.72%

GXPE

• 1D: -1.97%
• 1M: 8.26%
• 6M: 9.54%
• YTD: 29.57%
• 1Y: 37.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 34.17%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GXPE Global X PureCap MSCI Energy ETF	$32.44K	$21.90K	$22.76K
QYLD Global X NASDAQ 100 Covered Call ETF	$83.69M	$79.14M	$99.48M

QYLD vs. GXPE - Yearly Performance Comparison

	2026 (YTD)	2025
QYLD Global X NASDAQ 100 Covered Call ETF	9.77%	11.66%
GXPE Global X PureCap MSCI Energy ETF	29.57%	4.62%

Correlation

The correlation between QYLD and GXPE is -0.15, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.15
Correlation (All Time) Calculated using the full available price history since Jul 23, 2025	-0.14

Return for Risk

QYLD vs. GXPE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

QYLD

QYLD Risk / Return Rank: 83
QYLD Sharpe Ratio Rank: 76
QYLD Sortino Ratio Rank: 76
QYLD Omega Ratio Rank: 85
QYLD Calmar Ratio Rank: 87
QYLD Martin Ratio Rank: 92

GXPE

GXPE Risk / Return Rank: 59
GXPE Sharpe Ratio Rank: 68
GXPE Sortino Ratio Rank: 62
GXPE Omega Ratio Rank: 58
GXPE Calmar Ratio Rank: 59
GXPE Martin Ratio Rank: 48

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.

QYLD vs. GXPE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X NASDAQ 100 Covered Call ETF (QYLD) and Global X PureCap MSCI Energy ETF (GXPE). 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	GXPE	Difference
Sharpe ratio: Return per unit of total volatility	1.96	1.79	+0.17
Sortino ratio: Return per unit of downside risk	2.78	2.37	+0.42
Omega ratio: Gain probability vs. loss probability	1.40	1.29	+0.11
Calmar ratio: Return relative to maximum drawdown	3.81	2.38	+1.43
Martin ratio: Return relative to average drawdown	17.56	6.26	+11.30

QYLD vs. GXPE - Sharpe Ratio Comparison

The current QYLD Sharpe Ratio is 1.96, which is comparable to the GXPE Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of QYLD and GXPE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

QYLD vs. GXPE - Drawdown Comparison

The maximum QYLD drawdown since its inception was -24.75%, which is greater than GXPE's maximum drawdown of -15.73%. Use the drawdown chart below to compare losses from any high point for QYLD and GXPE.

Drawdown Indicators

	QYLD	GXPE	Difference
Max Drawdown Largest peak-to-trough decline	-24.75%	-15.73%	-9.02%
Max Drawdown (1Y) Largest decline over 1 year	-5.78%	-15.73%	+9.95%
Max Drawdown (3Y) Largest decline over 3 years	-19.06%	—	—
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	-1.07%	-8.02%	+6.95%
Average Drawdown Average peak-to-trough decline	-3.81%	-4.31%	+0.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.25%	5.96%	-4.71%

Volatility

QYLD vs. GXPE - Volatility Comparison

The current volatility for Global X NASDAQ 100 Covered Call ETF (QYLD) is 4.83%, while Global X PureCap MSCI Energy ETF (GXPE) has a volatility of 6.04%. This indicates that QYLD experiences smaller price fluctuations and is considered to be less risky than GXPE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QYLD	GXPE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.83%	6.04%	-1.21%
Volatility (6M) Calculated over the trailing 6-month period	10.06%	16.52%	-6.46%
Volatility (1Y) Calculated over the trailing 1-year period	11.22%	20.84%	-9.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.06%	20.68%	-5.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.64%	20.68%	-5.04%

QYLD vs. GXPE - Expense Ratio Comparison

QYLD has a 0.60% expense ratio, which is higher than GXPE's 0.15% expense ratio.

Dividends

QYLD vs. GXPE - Dividend Comparison

QYLD's dividend yield for the trailing twelve months is around 11.67%, more than GXPE's 2.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GXPE Global X PureCap MSCI Energy ETF	2.15%	1.20%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QYLD Global X NASDAQ 100 Covered Call ETF	11.67%	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

Can I hold both QYLD and GXPE in my portfolio?

QYLD and GXPE have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QYLD or GXPE?

GXPE has higher volatility (6.04%) compared to QYLD (4.83%). In terms of maximum drawdown, QYLD dropped -24.75% vs GXPE's -15.73%.

Which ETF is better, QYLD or GXPE?

On 1-year performance, GXPE leads with 37.19% vs 21.90% for QYLD. On fees, GXPE is cheaper at 0.15% per year. On volatility, QYLD has been the lower-risk option at 4.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QYLD or GXPE?

Over the 1-year period, GXPE has performed better with a 37.19% return vs 21.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QYLD or GXPE?

GXPE is cheaper with a 0.15% expense ratio, compared with 0.60% for QYLD.

Which ETF pays a higher dividend yield, QYLD or GXPE?

QYLD has the higher dividend yield at 11.67%, compared with 2.15% for GXPE.

What is the main difference between QYLD and GXPE?

QYLD is categorized as Nasdaq-100, while GXPE is Energy Equities. QYLD tracks CBOE NASDAQ-100 Buy Write V2, while GXPE tracks MSCI USA Energy PureCap Index. Their fees differ too: 0.60% for QYLD and 0.15% for GXPE.

Which has better risk-adjusted returns?

QYLD currently has the higher Sharpe Ratio (1.96 vs 1.79), 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.