QYLD vs. QEW

Last updated Jun 4, 2026

QYLD (Global X NASDAQ 100 Covered Call ETF) and QEW (Invesco QQQ Equal Weight ETF) are both Nasdaq-100 funds - QYLD tracks the CBOE NASDAQ-100 Buy Write V2 while QEW tracks the Nasdaq-100 Equal Weighted Index. Both are passively managed. Their correlation of 0.80 suggests significant overlap in exposure. QYLD charges 0.60%/yr vs 0.25%/yr for QEW.

Performance

QYLD vs. QEW - Performance Comparison

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

Returns By Period

QYLD

• 1D: -0.06%
• 1M: 1.62%
• YTD: 7.88%
• 6M: 9.97%
• 1Y: 23.93%
• 3Y*: 13.80%
• 5Y*: 8.43%
• 10Y*: 9.80%

QEW

• 1D: 0.71%
• 1M: 10.47%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QYLD vs. QEW - Yearly Performance Comparison

	2026 (YTD)
QYLD Global X NASDAQ 100 Covered Call ETF	6.52%
QEW Invesco QQQ Equal Weight ETF	21.62%

Correlation

The correlation between QYLD and QEW is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 19, 2026	0.80

Return for Risk

QYLD vs. QEW — Risk / Return Rank

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

QYLD

QYLD Risk / Return Rank: 88
QYLD Sharpe Ratio Rank: 84
QYLD Sortino Ratio Rank: 85
QYLD Omega Ratio Rank: 92
QYLD Calmar Ratio Rank: 86
QYLD Martin Ratio Rank: 94

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. QEW - 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 QQQ Equal Weight ETF (QEW). 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	QEW	Difference
Sharpe ratio Return per unit of total volatility	2.80	—	—
Sortino ratio Return per unit of downside risk	3.92	—	—
Omega ratio Gain probability vs. loss probability	1.63	—	—
Calmar ratio Return relative to maximum drawdown	4.84	—	—
Martin ratio Return relative to average drawdown	28.36	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	QYLD	QEW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.80	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.63	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	10.05	-9.46

Drawdowns

QYLD vs. QEW - Drawdown Comparison

The maximum QYLD drawdown since its inception was -24.75%, which is greater than QEW's maximum drawdown of -4.15%. Use the drawdown chart below to compare losses from any high point for QYLD and QEW.

Drawdown Indicators

	QYLD	QEW	Difference
Max Drawdown Largest peak-to-trough decline	-24.75%	-4.15%	-20.60%
Max Drawdown (1Y) Largest decline over 1 year	-4.97%	—	—
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	-0.06%	0.00%	-0.06%
Average Drawdown Average peak-to-trough decline	-3.84%	-0.58%	-3.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.85%	—	—

Volatility

Volatility by Period

	QYLD	QEW	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.85%	—	—
Volatility (6M) Calculated over the trailing 6-month period	7.12%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	8.58%	15.89%	-7.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.70%	15.89%	-1.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.49%	15.89%	-0.40%

QYLD vs. QEW - Expense Ratio Comparison

QYLD has a 0.60% expense ratio, which is higher than QEW's 0.25% expense ratio.

Dividends

QYLD vs. QEW - Dividend Comparison

QYLD's dividend yield for the trailing twelve months is around 11.46%, while QEW has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QEW Invesco QQQ Equal Weight ETF	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	11.46%	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 QEW in my portfolio?

QYLD and QEW have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QYLD or QEW?

On fees, QEW is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QYLD or QEW?

QEW is cheaper with a 0.25% expense ratio, compared with 0.60% for QYLD.

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

QYLD has the higher dividend yield at 11.46%, compared with 0.00% for QEW.

What is the main difference between QYLD and QEW?

QYLD tracks CBOE NASDAQ-100 Buy Write V2, while QEW tracks Nasdaq-100 Equal Weighted Index. They also come from different issuers: Global X and Invesco. Their fees differ too: 0.60% for QYLD and 0.25% for QEW.