QYLU.L vs. XNAQ.L

Last updated Jul 18, 2026

QYLU.L (Global X Nasdaq 100 Covered Call UCITS ETF USD (Acc)) and XNAQ.L (Xtrackers Nasdaq 100 UCITS ETF 1C) are both Nasdaq-100 funds - QYLU.L tracks the Cboe Nasdaq-100 BuyWrite v2 UCITS Index while XNAQ.L tracks the Russell 1000 Growth TR USD. Both are passively managed. Over the past 3 years, QYLU.L returned 11.41%/yr vs 22.83%/yr for XNAQ.L. A 0.68 correlation means they provide meaningful diversification when combined. QYLU.L charges 0.45%/yr vs 0.20%/yr for XNAQ.L.

Performance

QYLU.L vs. XNAQ.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Nasdaq 100 Covered Call UCITS ETF USD (Acc) (QYLU.L) and Xtrackers Nasdaq 100 UCITS ETF 1C (XNAQ.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

QYLU.L is traded in USD, while XNAQ.L is traded in GBP. To make them comparable, the XNAQ.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, QYLU.L achieves a 4.87% return, which is significantly lower than XNAQ.L's 12.48% return.

QYLU.L

• 1D: -2.37%
• 1M: -2.67%
• 6M: 3.99%
• YTD: 4.87%
• 1Y: 16.53%
• 3Y*: 11.41%
• 5Y*: —
• 10Y*: —

XNAQ.L

• 1D: -2.32%
• 1M: -4.34%
• 6M: 11.97%
• YTD: 12.48%
• 1Y: 24.24%
• 3Y*: 22.83%
• 5Y*: 14.75%
• 10Y*: —

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

QYLU.L vs. XNAQ.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
QYLU.L Global X Nasdaq 100 Covered Call UCITS ETF USD (Acc)	4.87%	5.59%	22.94%	22.59%	-2.11%
XNAQ.L Xtrackers Nasdaq 100 UCITS ETF 1C	12.48%	20.15%	26.49%	55.61%	-6.02%

Correlation

The correlation between QYLU.L and XNAQ.L is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (All Time) Calculated using the full available price history since Nov 22, 2022	0.68

The correlation between QYLU.L and XNAQ.L shifts across timeframes, from 0.56 (1 year) to 0.68 (all time), reflecting how their relationship changes across market environments.

Return for Risk

QYLU.L vs. XNAQ.L — Risk / Return Rank

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

QYLU.L

QYLU.L Risk / Return Rank: 61
QYLU.L Sharpe Ratio Rank: 47
QYLU.L Sortino Ratio Rank: 47
QYLU.L Omega Ratio Rank: 47
QYLU.L Calmar Ratio Rank: 83
QYLU.L Martin Ratio Rank: 81

XNAQ.L

XNAQ.L Risk / Return Rank: 51
XNAQ.L Sharpe Ratio Rank: 53
XNAQ.L Sortino Ratio Rank: 51
XNAQ.L Omega Ratio Rank: 52
XNAQ.L Calmar Ratio Rank: 54
XNAQ.L Martin Ratio Rank: 45

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.

QYLU.L vs. XNAQ.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Nasdaq 100 Covered Call UCITS ETF USD (Acc) (QYLU.L) and Xtrackers Nasdaq 100 UCITS ETF 1C (XNAQ.L). 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.

	QYLU.L	XNAQ.L	Difference
Sharpe ratio: Return per unit of total volatility	1.24	1.41	-0.18
Sortino ratio: Return per unit of downside risk	1.81	2.01	-0.20
Omega ratio: Gain probability vs. loss probability	1.23	1.25	-0.01
Calmar ratio: Return relative to maximum drawdown	3.31	2.19	+1.13
Martin ratio: Return relative to average drawdown	11.23	7.38	+3.84

QYLU.L vs. XNAQ.L - Sharpe Ratio Comparison

The current QYLU.L Sharpe Ratio is 1.24, which is comparable to the XNAQ.L Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of QYLU.L and XNAQ.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

QYLU.L vs. XNAQ.L - Drawdown Comparison

The maximum QYLU.L drawdown since its inception was -19.93%, smaller than the maximum XNAQ.L drawdown of -41.69%. Use the drawdown chart below to compare losses from any high point for QYLU.L and XNAQ.L.

Drawdown Indicators

	QYLU.L	XNAQ.L	Difference
Max Drawdown Largest peak-to-trough decline	-19.93%	-41.69%	+21.76%
Max Drawdown (1Y) Largest decline over 1 year	-4.97%	-11.05%	+6.08%
Max Drawdown (3Y) Largest decline over 3 years	-19.93%	-23.10%	+3.17%
Max Drawdown (5Y) Largest decline over 5 years	—	-35.12%	—
Current Drawdown Current decline from peak	-3.70%	-6.66%	+2.96%
Average Drawdown Average peak-to-trough decline	-2.43%	-15.38%	+12.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.47%	3.28%	-1.81%

Volatility

QYLU.L vs. XNAQ.L - Volatility Comparison

The current volatility for Global X Nasdaq 100 Covered Call UCITS ETF USD (Acc) (QYLU.L) is 5.42%, while Xtrackers Nasdaq 100 UCITS ETF 1C (XNAQ.L) has a volatility of 6.43%. This indicates that QYLU.L experiences smaller price fluctuations and is considered to be less risky than XNAQ.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QYLU.L	XNAQ.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.42%	6.43%	-1.01%
Volatility (6M) Calculated over the trailing 6-month period	9.59%	13.52%	-3.93%
Volatility (1Y) Calculated over the trailing 1-year period	13.32%	17.15%	-3.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.65%	24.84%	-9.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.65%	26.82%	-11.17%

QYLU.L vs. XNAQ.L - Expense Ratio Comparison

QYLU.L has a 0.45% expense ratio, which is higher than XNAQ.L's 0.20% expense ratio.

Dividends

QYLU.L vs. XNAQ.L - Dividend Comparison

Neither QYLU.L nor XNAQ.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both QYLU.L and XNAQ.L in my portfolio?

QYLU.L and XNAQ.L have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QYLU.L or XNAQ.L?

On fees, XNAQ.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QYLU.L or XNAQ.L?

XNAQ.L is cheaper with a 0.20% expense ratio, compared with 0.45% for QYLU.L.

What is the main difference between QYLU.L and XNAQ.L?

QYLU.L tracks Cboe Nasdaq-100 BuyWrite v2 UCITS Index, while XNAQ.L tracks Russell 1000 Growth TR USD. They also come from different issuers: Global X and Xtrackers. Their fees differ too: 0.45% for QYLU.L and 0.20% for XNAQ.L.