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QYLD vs. QQQ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QYLD vs. QQQ

Last updated Jun 18, 2026

QYLD (Global X NASDAQ 100 Covered Call ETF) and QQQ (Invesco QQQ ETF) are both Nasdaq-100 funds - QYLD tracks the CBOE NASDAQ-100 Buy Write V2 while QQQ tracks the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, QYLD returned 9.84%/yr vs 21.95%/yr for QQQ. Their correlation of 0.84 suggests significant overlap in exposure. QYLD charges 0.60%/yr vs 0.18%/yr for QQQ.

Performance

QYLD vs. QQQ - 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 ETF (QQQ). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, QYLD achieves a 7.58% return, which is significantly lower than QQQ's 17.76% return. Over the past 10 years, QYLD has underperformed QQQ with an annualized return of 9.84%, while QQQ has yielded a comparatively higher 21.95% annualized return.

QYLD

1D
-0.66%
1M
2.09%
YTD
7.58%
6M
9.29%
1Y
22.55%
3Y*
13.68%
5Y*
8.42%
10Y*
9.84%

QQQ

1D
-1.01%
1M
2.36%
YTD
17.76%
6M
20.64%
1Y
37.22%
3Y*
25.96%
5Y*
16.79%
10Y*
21.95%
*Multi-year figures are annualized to reflect compound growth (CAGR)

QYLD vs. QQQ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
QYLD
Global X NASDAQ 100 Covered Call ETF		7.58%9.28%19.35%22.77%-19.08%10.41%8.72%22.69%-3.07%18.79%
QQQ
Invesco QQQ ETF		17.76%20.77%25.58%54.86%-32.58%27.42%48.62%38.96%-0.13%32.66%

Correlation

The correlation between QYLD and QQQ is 0.88, 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

0.88

Correlation (3Y)
Calculated over the trailing 3-year period

0.88

Correlation (5Y)
Calculated over the trailing 5-year period

0.90

Correlation (10Y)
Calculated over the trailing 10-year period

0.87

Correlation (All Time)
Calculated using the full available price history since Dec 12, 2013

0.84

The correlation between QYLD and QQQ has been stable across timeframes, ranging from 0.84 to 0.90 - a consistent structural relationship.

QYLD vs. QQQ - Sectors Allocation Comparison

Sectors
QYLD
QQQ

Technology

58.7%
58.7%

Communication Services

14.3%
14.3%

Consumer Cyclical

11.4%
11.4%

Consumer Defensive

6.4%
6.4%

Healthcare

3.7%
3.7%

Industrials

2.6%
2.6%

Utilities

1.2%
1.2%

Basic Materials

1.0%
1.0%

Energy

0.5%
0.5%

Financial Services

0.2%
0.2%

Real Estate

0.1%
0.1%

Technology

QYLD
58.7%
QQQ
58.7%

Communication Services

QYLD
14.3%
QQQ
14.3%

Consumer Cyclical

QYLD
11.4%
QQQ
11.4%

Consumer Defensive

QYLD
6.4%
QQQ
6.4%

Healthcare

QYLD
3.7%
QQQ
3.7%

Industrials

QYLD
2.6%
QQQ
2.6%

Utilities

QYLD
1.2%
QQQ
1.2%

Basic Materials

QYLD
1.0%
QQQ
1.0%

Energy

QYLD
0.5%
QQQ
0.5%

Financial Services

QYLD
0.2%
QQQ
0.2%

Real Estate

QYLD
0.1%
QQQ
0.1%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Global X NASDAQ 100 Covered Call ETF

Invesco QQQ ETF

Often compared with QYLD:
QYLD vs. JEPQQYLD vs. JEPIQYLD vs. XYLDQYLD vs. RYLDQYLD vs. SCHDQYLD vs. QYLGQYLD vs. SPY
Often compared with QQQ:
QQQ vs. SPYQQQ vs. VOOQQQ vs. VGTQQQ vs. TQQQQQQ vs. SMHQQQ vs. QQQMQQQ vs. QQQI

Return for Risk

QYLD vs. QQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QYLD
QYLD Risk / Return Rank: 8888
Overall Rank
QYLD Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
QYLD Sortino Ratio Rank: 8484
Sortino Ratio Rank
QYLD Omega Ratio Rank: 9191
Omega Ratio Rank
QYLD Calmar Ratio Rank: 8787
Calmar Ratio Rank
QYLD Martin Ratio Rank: 9494
Martin Ratio Rank
QQQ
QQQ Risk / Return Rank: 6868
Overall Rank
QQQ Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
QQQ Sortino Ratio Rank: 6565
Sortino Ratio Rank
QQQ Omega Ratio Rank: 6969
Omega Ratio Rank
QQQ Calmar Ratio Rank: 6767
Calmar Ratio Rank
QQQ Martin Ratio Rank: 6868
Martin Ratio Rank
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. QQQ - 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 ETF (QQQ). 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.

QYLDQQQDifference
Sharpe ratioReturn per unit of total volatility
2.46
2.14

+0.32

Sortino ratioReturn per unit of downside risk
3.43
2.80

+0.63

Omega ratioGain probability vs. loss probability

1.54

1.38

+0.16

Calmar ratioReturn relative to maximum drawdown

4.56

3.13

+1.43

Martin ratioReturn relative to average drawdown

25.65

11.64

+14.02

QYLD vs. QQQ - Sharpe Ratio Comparison

The current QYLD Sharpe Ratio is 2.46, which is comparable to the QQQ Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of QYLD and QQQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

QYLD vs. QQQ - Drawdown Comparison

The maximum QYLD drawdown since its inception was -24.75%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for QYLD and QQQ.

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Drawdown Indicators

QYLDQQQDifference

Max Drawdown

Largest peak-to-trough decline

-24.75%

-82.97%

+58.22%

Max Drawdown (1Y)

Largest decline over 1 year

-4.97%

-11.96%

+6.99%

Max Drawdown (3Y)

Largest decline over 3 years

-19.06%

-22.77%

+3.71%

Max Drawdown (5Y)

Largest decline over 5 years

-24.61%

-35.12%

+10.51%

Max Drawdown (10Y)

Largest decline over 10 years

-24.75%

-35.12%

+10.37%

Current Drawdown

Current decline from peak

-0.71%

-3.17%

+2.46%

Average Drawdown

Average peak-to-trough decline

-3.83%

-32.74%

+28.91%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.88%

3.21%

-2.33%

Volatility

QYLD vs. QQQ - Volatility Comparison

The current volatility for Global X NASDAQ 100 Covered Call ETF (QYLD) is 3.67%, while Invesco QQQ ETF (QQQ) has a volatility of 8.29%. This indicates that QYLD experiences smaller price fluctuations and is considered to be less risky than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

QYLDQQQDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.67%

8.29%

-4.62%

Volatility (6M)

Calculated over the trailing 6-month period

7.90%

14.15%

-6.25%

Volatility (1Y)

Calculated over the trailing 1-year period

9.20%

17.51%

-8.31%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.78%

22.61%

-7.83%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.53%

22.41%

-6.88%

QYLD vs. QQQ - Expense Ratio Comparison

QYLD has a 0.60% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

QYLD vs. QQQ - Dividend Comparison

QYLD's dividend yield for the trailing twelve months is around 11.49%, more than QQQ's 0.39% yield.

PositionTTM20252024202320222021202020192018201720162015
QQQ
Invesco QQQ ETF		0.39%0.45%0.56%0.62%0.80%0.43%0.55%0.74%0.91%0.84%1.06%0.99%
QYLD
Global X NASDAQ 100 Covered Call ETF		11.49%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 QQQ have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

QQQ has higher volatility (8.29%) compared to QYLD (3.67%). In terms of maximum drawdown, QYLD dropped -24.75% vs QQQ's -82.97%.

On 10-year performance, QQQ leads with 21.95% vs 9.84% for QYLD. On fees, QQQ is cheaper at 0.18% per year. On volatility, QYLD has been the lower-risk option at 3.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, QQQ has performed better with a 21.95% return vs 9.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

QQQ is cheaper with a 0.18% expense ratio, compared with 0.60% for QYLD.

QYLD has the higher dividend yield at 11.49%, compared with 0.39% for QQQ.

QYLD tracks CBOE NASDAQ-100 Buy Write V2, while QQQ tracks NASDAQ-100 Index. They also come from different issuers: Global X and Invesco. Their fees differ too: 0.60% for QYLD and 0.18% for QQQ.

QYLD currently has the higher Sharpe Ratio (2.46 vs 2.14), 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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