QYLD vs. QCJL

Last updated Jun 24, 2026

QYLD (Global X NASDAQ 100 Covered Call ETF) and QCJL (FT Vest Nasdaq-100 Conservative Buffer ETF - July) are both Nasdaq-100 funds. QYLD is passively managed, while QCJL is actively managed. Over the past year, QYLD returned 22.55% vs 13.57% for QCJL. Their correlation of 0.86 suggests significant overlap in exposure. QYLD charges 0.60%/yr vs 0.90%/yr for QCJL.

Performance

QYLD vs. QCJL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X NASDAQ 100 Covered Call ETF (QYLD) and FT Vest Nasdaq-100 Conservative Buffer ETF - July (QCJL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QYLD achieves a 7.89% return, which is significantly higher than QCJL's 5.21% return.

QYLD

• 1D: -1.97%
• 1M: 1.41%
• YTD: 7.89%
• 6M: 7.59%
• 1Y: 22.55%
• 3Y*: 13.99%
• 5Y*: 8.26%
• 10Y*: 9.99%

QCJL

• 1D: -0.18%
• 1M: 0.34%
• YTD: 5.21%
• 6M: 5.12%
• 1Y: 13.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QYLD vs. QCJL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QYLD Global X NASDAQ 100 Covered Call ETF	7.89%	9.28%	9.80%
QCJL FT Vest Nasdaq-100 Conservative Buffer ETF - July	5.21%	13.10%	4.38%

Correlation

The correlation between QYLD and QCJL is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (All Time) Calculated using the full available price history since Jul 22, 2024	0.86

The correlation between QYLD and QCJL has been stable across timeframes, ranging from 0.82 to 0.86 - a consistent structural relationship.

Return for Risk

QYLD vs. QCJL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

QYLD

QYLD Risk / Return Rank: 84
QYLD Sharpe Ratio Rank: 76
QYLD Sortino Ratio Rank: 77
QYLD Omega Ratio Rank: 87
QYLD Calmar Ratio Rank: 85
QYLD Martin Ratio Rank: 94

QCJL

QCJL Risk / Return Rank: 84
QCJL Sharpe Ratio Rank: 83
QCJL Sortino Ratio Rank: 87
QCJL Omega Ratio Rank: 87
QCJL Calmar Ratio Rank: 73
QCJL Martin Ratio Rank: 88

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

QYLD vs. QCJL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X NASDAQ 100 Covered Call ETF (QYLD) and FT Vest Nasdaq-100 Conservative Buffer ETF - July (QCJL). 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	QCJL	Difference
Sharpe ratio: Return per unit of total volatility	2.34	2.42	-0.08
Sortino ratio: Return per unit of downside risk	3.28	3.52	-0.25
Omega ratio: Gain probability vs. loss probability	1.52	1.49	+0.03
Calmar ratio: Return relative to maximum drawdown	4.56	3.40	+1.15
Martin ratio: Return relative to average drawdown	25.38	17.38	+8.01

QYLD vs. QCJL - Sharpe Ratio Comparison

The current QYLD Sharpe Ratio is 2.34, which is comparable to the QCJL Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of QYLD and QCJL, 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. QCJL - Drawdown Comparison

The maximum QYLD drawdown since its inception was -24.75%, which is greater than QCJL's maximum drawdown of -11.18%. Use the drawdown chart below to compare losses from any high point for QYLD and QCJL.

Drawdown Indicators

	QYLD	QCJL	Difference
Max Drawdown Largest peak-to-trough decline	-24.75%	-11.18%	-13.57%
Max Drawdown (1Y) Largest decline over 1 year	-4.97%	-4.00%	-0.97%
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	-2.10%	-0.18%	-1.92%
Average Drawdown Average peak-to-trough decline	-3.82%	-1.04%	-2.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.89%	0.78%	+0.11%

Volatility

QYLD vs. QCJL - Volatility Comparison

Global X NASDAQ 100 Covered Call ETF (QYLD) has a higher volatility of 4.78% compared to FT Vest Nasdaq-100 Conservative Buffer ETF - July (QCJL) at 0.73%. This indicates that QYLD's price experiences larger fluctuations and is considered to be riskier than QCJL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QYLD	QCJL	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.78%	0.73%	+4.05%
Volatility (6M) Calculated over the trailing 6-month period	8.50%	4.22%	+4.28%
Volatility (1Y) Calculated over the trailing 1-year period	9.70%	5.67%	+4.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.84%	9.35%	+5.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.56%	9.35%	+6.21%

QYLD vs. QCJL - Expense Ratio Comparison

QYLD has a 0.60% expense ratio, which is lower than QCJL's 0.90% expense ratio.

Dividends

QYLD vs. QCJL - Dividend Comparison

QYLD's dividend yield for the trailing twelve months is around 11.68%, while QCJL has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QCJL FT Vest Nasdaq-100 Conservative Buffer ETF - July	0.00%	0.00%	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	11.68%	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 QCJL in my portfolio?

QYLD and QCJL have a correlation of 0.82, 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 QCJL?

QYLD has higher volatility (4.78%) compared to QCJL (0.73%). In terms of maximum drawdown, QYLD dropped -24.75% vs QCJL's -11.18%.

Which ETF is better, QYLD or QCJL?

On 1-year performance, QYLD leads with 22.55% vs 13.57% for QCJL. On fees, QYLD is cheaper at 0.60% per year. On volatility, QCJL has been the lower-risk option at 0.73%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QYLD or QCJL?

Over the 1-year period, QYLD has performed better with a 22.55% return vs 13.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QYLD or QCJL?

QYLD is cheaper with a 0.60% expense ratio, compared with 0.90% for QCJL.

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

QYLD has the higher dividend yield at 11.68%, compared with 0.00% for QCJL.

What is the main difference between QYLD and QCJL?

They also come from different issuers: Global X and First Trust. Their fees differ too: 0.60% for QYLD and 0.90% for QCJL.

Which has better risk-adjusted returns?

QCJL currently has the higher Sharpe Ratio (2.42 vs 2.34), 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.