PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
QYLD vs. XYLD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QYLD vs. XYLD

Last updated Jul 31, 2026
Documentation

QYLD (Global X NASDAQ 100 Covered Call ETF) and XYLD (Global X S&P 500 Covered Call ETF) are both exchange-traded funds - QYLD is a Nasdaq-100 fund tracking the CBOE NASDAQ-100 Buy Write V2, while XYLD is a Derivative Income fund tracking the Cboe S&P 500 BuyWrite Index. Both are passively managed. Over the past 10 years, QYLD returned 9.49%/yr vs 8.22%/yr for XYLD. Their 0.72 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.60% expense ratio.

Performance

QYLD vs. XYLD - 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 S&P 500 Covered Call ETF (XYLD). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, QYLD achieves a 6.97% return, which is significantly lower than XYLD's 7.53% return. Over the past 10 years, QYLD has outperformed XYLD with an annualized return of 9.49%, while XYLD has yielded a comparatively lower 8.22% annualized return.

QYLD

1D
2.32%
1M
-3.43%
6M
4.84%
YTD
6.97%
1Y
18.45%
3Y*
12.12%
5Y*
7.69%
10Y*
9.49%
ALL TIME*
8.51%

XYLD

1D
1.11%
1M
1.45%
6M
6.19%
YTD
7.53%
1Y
17.20%
3Y*
11.36%
5Y*
7.79%
10Y*
8.22%
ALL TIME*
8.34%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

QYLD

Global X NASDAQ 100 Covered Call ETF
$91.97M$78.44M$98.68M

XYLD

Global X S&P 500 Covered Call ETF
$37.44M$37.28M$32.49M

QYLD vs. XYLD - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
QYLD
Global X NASDAQ 100 Covered Call ETF		6.97%9.28%19.35%22.77%-19.08%10.41%8.72%22.69%-3.07%18.79%
XYLD
Global X S&P 500 Covered Call ETF		7.53%8.02%19.49%11.10%-12.05%19.59%-0.56%21.41%-6.09%16.49%

Correlation

The correlation between QYLD and XYLD is 0.90, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.90

Correlation (3Y)
Balances recent behavior with more history.

0.86

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.87

Correlation (10Y)
Provides a long-term view across more market conditions.

0.75

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

0.72

The correlation between QYLD and XYLD shifts across timeframes, from 0.72 (all time) to 0.90 (1 year), reflecting how their relationship changes across market environments.

QYLD vs. XYLD - Sectors Allocation Comparison

Sectors
QYLD
XYLD

Technology

62.7%
38.5%

Communication Services

13.0%
9.9%

Consumer Cyclical

10.9%
9.5%

Consumer Defensive

6.6%
4.5%

Industrials

4.1%
8.4%

Healthcare

3.7%
8.9%

Utilities

1.3%
2.2%

Basic Materials

1.1%
1.7%

Energy

0.5%
3.0%

Financial Services

0.2%
11.6%

Real Estate

0.1%
1.8%

Technology

QYLD
62.7%
XYLD
38.5%

Communication Services

QYLD
13.0%
XYLD
9.9%

Consumer Cyclical

QYLD
10.9%
XYLD
9.5%

Consumer Defensive

QYLD
6.6%
XYLD
4.5%

Industrials

QYLD
4.1%
XYLD
8.4%

Healthcare

QYLD
3.7%
XYLD
8.9%

Utilities

QYLD
1.3%
XYLD
2.2%

Basic Materials

QYLD
1.1%
XYLD
1.7%

Energy

QYLD
0.5%
XYLD
3.0%

Financial Services

QYLD
0.2%
XYLD
11.6%

Real Estate

QYLD
0.1%
XYLD
1.8%

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

Global X S&P 500 Covered Call ETF

Often compared with QYLD:
QYLD vs. JEPQQYLD vs. JEPIQYLD vs. QQQQYLD vs. RYLDQYLD vs. SCHDQYLD vs. QYLGQYLD vs. SPY
Often compared with XYLD:
XYLD vs. JEPIXYLD vs. SPYXYLD vs. RYLDXYLD vs. XYLGXYLD vs. VOOXYLD vs. SCHDXYLD vs. HYLD.TO

Return for Risk

QYLD vs. XYLD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
QYLD
QYLD Risk / Return Rank: 8282
Overall Rank
QYLD Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
QYLD Sortino Ratio Rank: 7676
Sortino Ratio Rank
QYLD Omega Ratio Rank: 8282
Omega Ratio Rank
QYLD Calmar Ratio Rank: 8686
Calmar Ratio Rank
QYLD Martin Ratio Rank: 9292
Martin Ratio Rank
XYLD
XYLD Risk / Return Rank: 9292
Overall Rank
XYLD Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
XYLD Sortino Ratio Rank: 9393
Sortino Ratio Rank
XYLD Omega Ratio Rank: 9595
Omega Ratio Rank
XYLD Calmar Ratio Rank: 8686
Calmar Ratio Rank
XYLD Martin Ratio Rank: 9393
Martin Ratio Rank
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. XYLD - 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 S&P 500 Covered Call ETF (XYLD). 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.

QYLDXYLDDifference
Sharpe ratioReturn per unit of total volatility
1.65
2.43

-0.78

Sortino ratioReturn per unit of downside risk
2.37
3.46

-1.09

Omega ratioGain probability vs. loss probability

1.34

1.54

-0.20

Calmar ratioReturn relative to maximum drawdown

3.21

3.27

-0.06

Martin ratioReturn relative to average drawdown

15.06

16.95

-1.89

QYLD vs. XYLD - Sharpe Ratio Comparison

The current QYLD Sharpe Ratio is 1.65, which is lower than the XYLD Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of QYLD and XYLD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

QYLD vs. XYLD - Drawdown Comparison

The maximum QYLD drawdown since its inception was -24.75%, smaller than the maximum XYLD drawdown of -33.46%. Use the drawdown chart below to compare losses from any high point for QYLD and XYLD.

Loading charts...

Drawdown Indicators

QYLDXYLDDifference

Max Drawdown

Largest peak-to-trough decline

-24.75%

-33.46%

+8.71%

Max Drawdown (1Y)

Largest decline over 1 year

-5.78%

-5.29%

-0.49%

Max Drawdown (3Y)

Largest decline over 3 years

-19.06%

-15.53%

-3.53%

Max Drawdown (5Y)

Largest decline over 5 years

-24.61%

-18.66%

-5.95%

Max Drawdown (10Y)

Largest decline over 10 years

-24.75%

-33.46%

+8.71%

Current Drawdown

Current decline from peak

-3.59%

0.00%

-3.59%

Average Drawdown

Average peak-to-trough decline

-3.81%

-3.68%

-0.13%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.23%

1.02%

+0.21%

Volatility

QYLD vs. XYLD - Volatility Comparison

Global X NASDAQ 100 Covered Call ETF (QYLD) has a higher volatility of 5.16% compared to Global X S&P 500 Covered Call ETF (XYLD) at 1.88%. This indicates that QYLD's price experiences larger fluctuations and is considered to be riskier than XYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

QYLDXYLDDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.16%

1.88%

+3.28%

Volatility (6M)

Calculated over the trailing 6-month period

10.02%

5.96%

+4.06%

Volatility (1Y)

Calculated over the trailing 1-year period

11.24%

7.12%

+4.12%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.04%

11.27%

+3.77%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.63%

14.15%

+1.48%

QYLD vs. XYLD - Expense Ratio Comparison

Both QYLD and XYLD have an expense ratio of 0.60%.

Dividends

QYLD vs. XYLD - Dividend Comparison

QYLD's dividend yield for the trailing twelve months is around 11.97%, more than XYLD's 10.58% yield.

PositionTTM20252024202320222021202020192018201720162015
QYLD
Global X NASDAQ 100 Covered Call ETF		11.97%11.55%12.50%11.78%13.75%12.85%11.16%9.84%12.44%7.69%9.15%9.42%
XYLD
Global X S&P 500 Covered Call ETF		10.58%10.51%11.54%10.51%13.43%9.07%7.93%5.76%7.12%5.18%3.23%4.65%

Frequently Asked Questions

QYLD and XYLD have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

QYLD has higher volatility (5.16%) compared to XYLD (1.88%). In terms of maximum drawdown, QYLD dropped -24.75% vs XYLD's -33.46%.

On 10-year performance, QYLD leads with 9.49% vs 8.22% for XYLD. Both ETFs have the same 0.60% expense ratio. On volatility, XYLD has been the lower-risk option at 1.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, QYLD has performed better with a 9.49% return vs 8.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

QYLD and XYLD have the same expense ratio: 0.60% per year.

QYLD has the higher dividend yield at 11.97%, compared with 10.58% for XYLD.

QYLD is categorized as Nasdaq-100, while XYLD is Derivative Income. QYLD tracks CBOE NASDAQ-100 Buy Write V2, while XYLD tracks Cboe S&P 500 BuyWrite Index.

XYLD currently has the higher Sharpe Ratio (2.43 vs 1.65), 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.

Portfolio Optimizer

Find the right allocation for QYLD and XYLD

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer