QYLD vs. QNDX

Last updated Jul 15, 2026

QYLD (Global X NASDAQ 100 Covered Call ETF) and QNDX (SPDR Portfolio Nasdaq 100 ETF) are both Nasdaq-100 funds - QYLD tracks the CBOE NASDAQ-100 Buy Write V2 while QNDX tracks the Nasdaq-100 Index. Both are passively managed. With a 0.97 correlation, they move nearly in lockstep. QYLD charges 0.60%/yr vs 0.10%/yr for QNDX.

Performance

QYLD vs. QNDX - Performance Comparison

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

Returns By Period

QYLD

• 1D: 1.21%
• 1M: 2.57%
• 6M: 9.06%
• YTD: 10.42%
• 1Y: 23.40%
• 3Y*: 13.71%
• 5Y*: 8.57%
• 10Y*: 9.99%

QNDX

• 1D: 1.12%
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QYLD vs. QNDX - Yearly Performance Comparison

	2026 (YTD)
QYLD Global X NASDAQ 100 Covered Call ETF	2.34%
QNDX SPDR Portfolio Nasdaq 100 ETF	0.74%

Correlation

The correlation between QYLD and QNDX is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 24, 2026	0.97

Return for Risk

QYLD vs. QNDX — Risk / Return Rank

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

QYLD

QYLD Risk / Return Rank: 90
QYLD Sharpe Ratio Rank: 87
QYLD Sortino Ratio Rank: 87
QYLD Omega Ratio Rank: 91
QYLD Calmar Ratio Rank: 92
QYLD Martin Ratio Rank: 95

QNDX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. QNDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X NASDAQ 100 Covered Call ETF (QYLD) and SPDR Portfolio Nasdaq 100 ETF (QNDX). 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	QNDX	Difference
Sharpe ratio: Return per unit of total volatility	2.22	—	—
Sortino ratio: Return per unit of downside risk	3.12	—	—
Omega ratio: Gain probability vs. loss probability	1.47	—	—
Calmar ratio: Return relative to maximum drawdown	4.73	—	—
Martin ratio: Return relative to average drawdown	24.61	—	—

Drawdowns

QYLD vs. QNDX - Drawdown Comparison

The maximum QYLD drawdown since its inception was -24.75%, which is greater than QNDX's maximum drawdown of -3.65%. Use the drawdown chart below to compare losses from any high point for QYLD and QNDX.

Drawdown Indicators

	QYLD	QNDX	Difference
Max Drawdown Largest peak-to-trough decline	-24.75%	-3.65%	-21.10%
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	-0.49%	-2.25%	+1.76%
Average Drawdown Average peak-to-trough decline	-3.81%	-1.71%	-2.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.95%	—	—

Volatility

Volatility by Period

	QYLD	QNDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.57%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.45%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	10.61%	22.98%	-12.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.97%	22.98%	-8.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.59%	22.98%	-7.39%

QYLD vs. QNDX - Expense Ratio Comparison

QYLD has a 0.60% expense ratio, which is higher than QNDX's 0.10% expense ratio.

Dividends

QYLD vs. QNDX - Dividend Comparison

QYLD's dividend yield for the trailing twelve months is around 11.42%, while QNDX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QNDX SPDR Portfolio Nasdaq 100 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	11.42%	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 QNDX in my portfolio?

With a correlation of 0.97, QYLD and QNDX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, QYLD or QNDX?

On fees, QNDX is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QYLD or QNDX?

QNDX is cheaper with a 0.10% expense ratio, compared with 0.60% for QYLD.

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

QYLD has the higher dividend yield at 11.42%, compared with 0.00% for QNDX.

What is the main difference between QYLD and QNDX?

QYLD tracks CBOE NASDAQ-100 Buy Write V2, while QNDX tracks Nasdaq-100 Index. They also come from different issuers: Global X and State Street. Their fees differ too: 0.60% for QYLD and 0.10% for QNDX.