QYLG vs. PQAP
QYLG (Global X Nasdaq 100 Covered Call & Growth ETF) and PQAP (PGIM Nasdaq-100 Buffer 12 ETF - April) are both exchange-traded funds - QYLG is a Nasdaq-100 fund tracking the CBOE Nasdaq-100 BuyWrite V2 Index, while PQAP is a Defined Outcome fund actively managed by PGIM. QYLG is passively managed, while PQAP is actively managed. Over the past year, QYLG returned 32.88% vs 21.47% for PQAP. Their correlation of 0.90 suggests significant overlap in exposure. QYLG charges 0.60%/yr vs 0.50%/yr for PQAP.
Performance
QYLG vs. PQAP - Performance Comparison
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Returns By Period
In the year-to-date period, QYLG achieves a 14.75% return, which is significantly higher than PQAP's 12.09% return.
QYLG
- 1D
- -0.05%
- 1M
- 6.22%
- YTD
- 14.75%
- 6M
- 14.78%
- 1Y
- 32.88%
- 3Y*
- 21.40%
- 5Y*
- 13.19%
- 10Y*
- —
PQAP
- 1D
- -0.12%
- 1M
- 2.44%
- YTD
- 12.09%
- 6M
- 13.01%
- 1Y
- 21.47%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QYLG vs. PQAP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QYLG Global X Nasdaq 100 Covered Call & Growth ETF | 14.75% | 15.37% |
PQAP PGIM Nasdaq-100 Buffer 12 ETF - April | 12.09% | 14.48% |
Correlation
The correlation between QYLG and PQAP 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 (All Time) Calculated using the full available price history since Jan 3, 2025 | 0.90 |
The correlation between QYLG and PQAP has been stable across timeframes, ranging from 0.88 to 0.90 - a consistent structural relationship.
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Return for Risk
QYLG vs. PQAP — Risk / Return Rank
QYLG
PQAP
QYLG vs. PQAP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Nasdaq 100 Covered Call & Growth ETF (QYLG) and PGIM Nasdaq-100 Buffer 12 ETF - April (PQAP). 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.
| QYLG | PQAP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.14 | ||
| Sortino ratioReturn per unit of downside risk | -4.79 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 2.20 | -0.71 |
| Calmar ratioReturn relative to maximum drawdown | 3.92 | 15.50 | -11.57 |
| Martin ratioReturn relative to average drawdown | 17.87 | 86.25 | -68.38 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| QYLG | PQAP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.72 | 4.86 | -2.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.74 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.83 | 1.76 | -0.93 |
Drawdowns
QYLG vs. PQAP - Drawdown Comparison
The maximum QYLG drawdown since its inception was -29.98%, which is greater than PQAP's maximum drawdown of -10.79%. Use the drawdown chart below to compare losses from any high point for QYLG and PQAP.
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Drawdown Indicators
| QYLG | PQAP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.98% | -10.79% | -19.19% |
Max Drawdown (1Y)Largest decline over 1 year | -8.42% | -1.39% | -7.03% |
Max Drawdown (3Y)Largest decline over 3 years | -20.75% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -29.98% | — | — |
Current DrawdownCurrent decline from peak | -0.05% | -0.12% | +0.07% |
Average DrawdownAverage peak-to-trough decline | -6.42% | -0.60% | -5.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.84% | 0.25% | +1.59% |
Volatility
QYLG vs. PQAP - Volatility Comparison
Global X Nasdaq 100 Covered Call & Growth ETF (QYLG) has a higher volatility of 3.10% compared to PGIM Nasdaq-100 Buffer 12 ETF - April (PQAP) at 1.02%. This indicates that QYLG's price experiences larger fluctuations and is considered to be riskier than PQAP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QYLG | PQAP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.10% | 1.02% | +2.08% |
Volatility (6M)Calculated over the trailing 6-month period | 9.68% | 3.09% | +6.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.17% | 4.45% | +7.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.98% | 11.03% | +6.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.93% | 11.03% | +6.90% |
QYLG vs. PQAP - Expense Ratio Comparison
QYLG has a 0.60% expense ratio, which is higher than PQAP's 0.50% expense ratio.
Dividends
QYLG vs. PQAP - Dividend Comparison
QYLG's dividend yield for the trailing twelve months is around 16.08%, more than PQAP's 0.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
PQAP PGIM Nasdaq-100 Buffer 12 ETF - April | 0.02% | 0.02% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QYLG Global X Nasdaq 100 Covered Call & Growth ETF | 16.08% | 17.93% | 25.27% | 5.43% | 6.91% | 10.15% | 1.44% |
Frequently Asked Questions
QYLG and PQAP 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.
QYLG has higher volatility (3.10%) compared to PQAP (1.02%). In terms of maximum drawdown, QYLG dropped -29.98% vs PQAP's -10.79%.
On 1-year performance, QYLG leads with 32.88% vs 21.47% for PQAP. On fees, PQAP is cheaper at 0.50% per year. On volatility, PQAP has been the lower-risk option at 1.02%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, QYLG has performed better with a 32.88% return vs 21.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PQAP is cheaper with a 0.50% expense ratio, compared with 0.60% for QYLG.
QYLG has the higher dividend yield at 16.08%, compared with 0.02% for PQAP.
QYLG is categorized as Nasdaq-100, while PQAP is Defined Outcome. They also come from different issuers: Global X and PGIM. Their fees differ too: 0.60% for QYLG and 0.50% for PQAP.
PQAP currently has the higher Sharpe Ratio (4.86 vs 2.72), 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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