QYLG vs. QEW

Last updated Jun 24, 2026

QYLG (Global X Nasdaq 100 Covered Call & Growth ETF) and QEW (Invesco QQQ Equal Weight ETF) are both Nasdaq-100 funds - QYLG tracks the CBOE Nasdaq-100 BuyWrite V2 Index while QEW tracks the Nasdaq-100 Equal Weighted Index. Both are passively managed. Their correlation of 0.92 suggests significant overlap in exposure. QYLG charges 0.60%/yr vs 0.25%/yr for QEW.

Performance

QYLG vs. QEW - Performance Comparison

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

Returns By Period

QYLG

• 1D: -2.59%
• 1M: 0.48%
• YTD: 12.38%
• 6M: 11.55%
• 1Y: 29.18%
• 3Y*: 20.15%
• 5Y*: 12.12%
• 10Y*: —

QEW

• 1D: -2.01%
• 1M: 1.99%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QYLG vs. QEW - Yearly Performance Comparison

	2026 (YTD)
QYLG Global X Nasdaq 100 Covered Call & Growth ETF	12.13%
QEW Invesco QQQ Equal Weight ETF	17.75%

Correlation

The correlation between QYLG and QEW is 0.92, 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 18, 2026	0.92

Return for Risk

QYLG vs. QEW — Risk / Return Rank

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

QYLG

QYLG Risk / Return Rank: 71
QYLG Sharpe Ratio Rank: 69
QYLG Sortino Ratio Rank: 66
QYLG Omega Ratio Rank: 70
QYLG Calmar Ratio Rank: 72
QYLG Martin Ratio Rank: 80

QEW

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.

QYLG vs. QEW - 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 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.

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.

	QYLG	QEW	Difference
Sharpe ratio: Return per unit of total volatility	2.15	—	—
Sortino ratio: Return per unit of downside risk	2.89	—	—
Omega ratio: Gain probability vs. loss probability	1.39	—	—
Calmar ratio: Return relative to maximum drawdown	3.48	—	—
Martin ratio: Return relative to average drawdown	15.22	—	—

Drawdowns

QYLG vs. QEW - Drawdown Comparison

The maximum QYLG drawdown since its inception was -29.98%, which is greater than QEW's maximum drawdown of -5.87%. Use the drawdown chart below to compare losses from any high point for QYLG and QEW.

Drawdown Indicators

	QYLG	QEW	Difference
Max Drawdown Largest peak-to-trough decline	-29.98%	-5.87%	-24.11%
Max Drawdown (1Y) Largest decline over 1 year	-8.42%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-20.75%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-29.98%	—	—
Current Drawdown Current decline from peak	-2.94%	-3.04%	+0.10%
Average Drawdown Average peak-to-trough decline	-6.37%	-1.11%	-5.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.92%	—	—

Volatility

Volatility by Period

	QYLG	QEW	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.71%	—	—
Volatility (6M) Calculated over the trailing 6-month period	11.50%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	13.67%	20.39%	-6.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.19%	20.39%	-2.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.05%	20.39%	-2.34%

QYLG vs. QEW - Expense Ratio Comparison

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

Dividends

QYLG vs. QEW - Dividend Comparison

QYLG's dividend yield for the trailing twelve months is around 16.69%, more than QEW's 0.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
QEW Invesco QQQ Equal Weight ETF	0.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QYLG Global X Nasdaq 100 Covered Call & Growth ETF	16.69%	17.93%	25.27%	5.43%	6.91%	10.15%	1.44%

Frequently Asked Questions

Can I hold both QYLG and QEW in my portfolio?

With a correlation of 0.92, QYLG and QEW 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, QYLG 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, QYLG or QEW?

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

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

QYLG has the higher dividend yield at 16.69%, compared with 0.11% for QEW.

What is the main difference between QYLG and QEW?

QYLG tracks CBOE Nasdaq-100 BuyWrite V2 Index, 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 QYLG and 0.25% for QEW.