RYLD vs. FTQI

Last updated Jul 17, 2026

RYLD (Global X Russell 2000 Covered Call ETF) and FTQI (First Trust Nasdaq BuyWrite Income ETF) are both exchange-traded funds - RYLD is a Derivative Income fund tracking the CBOE Russell 2000 BuyWrite Index, while FTQI is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 5 years, RYLD returned 3.49%/yr vs 12.26%/yr for FTQI. A 0.66 correlation means they provide meaningful diversification when combined. RYLD charges 0.60%/yr vs 0.75%/yr for FTQI.

Performance

RYLD vs. FTQI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Russell 2000 Covered Call ETF (RYLD) and First Trust Nasdaq BuyWrite Income ETF (FTQI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RYLD achieves a 12.08% return, which is significantly lower than FTQI's 12.76% return.

RYLD

• 1D: 0.19%
• 1M: 2.67%
• 6M: 9.29%
• YTD: 12.08%
• 1Y: 21.02%
• 3Y*: 8.13%
• 5Y*: 3.49%
• 10Y*: —

FTQI

• 1D: -0.72%
• 1M: 1.28%
• 6M: 11.68%
• YTD: 12.76%
• 1Y: 26.34%
• 3Y*: 16.62%
• 5Y*: 12.26%
• 10Y*: 7.85%

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

RYLD vs. FTQI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
RYLD Global X Russell 2000 Covered Call ETF	12.08%	5.65%	10.13%	0.27%	-13.03%	22.13%	-0.44%	8.86%
FTQI First Trust Nasdaq BuyWrite Income ETF	12.76%	12.68%	18.30%	23.63%	-8.77%	10.46%	-6.54%	4.65%

Correlation

The correlation between RYLD and FTQI is 0.73, 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	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (All Time) Calculated using the full available price history since Apr 22, 2019	0.66

The correlation between RYLD and FTQI has been stable across timeframes, ranging from 0.66 to 0.73 - a consistent structural relationship.

RYLD vs. FTQI - Sectors Allocation Comparison

Sectors	RYLD	FTQI
Technology	19.0%	49.4%
Industrials	18.0%	4.1%
Healthcare	16.3%	6.0%
Financial Services	15.5%	5.5%
Consumer Cyclical	8.0%	10.5%
Real Estate	5.9%	1.3%
Energy	5.4%	2.3%
Basic Materials	4.7%	1.4%
Utilities	2.8%	1.5%
Communication Services	2.4%	11.8%
Consumer Defensive	2.3%	6.2%

Return for Risk

RYLD vs. FTQI — Risk / Return Rank

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

RYLD

RYLD Risk / Return Rank: 81
RYLD Sharpe Ratio Rank: 78
RYLD Sortino Ratio Rank: 78
RYLD Omega Ratio Rank: 85
RYLD Calmar Ratio Rank: 80
RYLD Martin Ratio Rank: 85

FTQI

FTQI Risk / Return Rank: 91
FTQI Sharpe Ratio Rank: 90
FTQI Sortino Ratio Rank: 89
FTQI Omega Ratio Rank: 90
FTQI Calmar Ratio Rank: 89
FTQI Martin Ratio Rank: 94

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.

RYLD vs. FTQI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Russell 2000 Covered Call ETF (RYLD) and First Trust Nasdaq BuyWrite Income ETF (FTQI). 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.

	RYLD	FTQI	Difference
Sharpe ratio: Return per unit of total volatility	1.98	2.43	-0.45
Sortino ratio: Return per unit of downside risk	2.79	3.37	-0.58
Omega ratio: Gain probability vs. loss probability	1.41	1.45	-0.04
Calmar ratio: Return relative to maximum drawdown	3.36	4.24	-0.88
Martin ratio: Return relative to average drawdown	13.55	20.07	-6.52

RYLD vs. FTQI - Sharpe Ratio Comparison

The current RYLD Sharpe Ratio is 1.98, which is comparable to the FTQI Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of RYLD and FTQI, 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

RYLD vs. FTQI - Drawdown Comparison

The maximum RYLD drawdown since its inception was -41.53%, which is greater than FTQI's maximum drawdown of -19.42%. Use the drawdown chart below to compare losses from any high point for RYLD and FTQI.

Drawdown Indicators

	RYLD	FTQI	Difference
Max Drawdown Largest peak-to-trough decline	-41.53%	-19.42%	-22.11%
Max Drawdown (1Y) Largest decline over 1 year	-6.29%	-6.24%	-0.05%
Max Drawdown (3Y) Largest decline over 3 years	-19.05%	-19.42%	+0.37%
Max Drawdown (5Y) Largest decline over 5 years	-21.33%	-19.42%	-1.91%
Max Drawdown (10Y) Largest decline over 10 years	—	-19.42%	—
Current Drawdown Current decline from peak	0.00%	-0.85%	+0.85%
Average Drawdown Average peak-to-trough decline	-8.70%	-3.73%	-4.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.56%	1.32%	+0.24%

Volatility

RYLD vs. FTQI - Volatility Comparison

The current volatility for Global X Russell 2000 Covered Call ETF (RYLD) is 1.58%, while First Trust Nasdaq BuyWrite Income ETF (FTQI) has a volatility of 2.92%. This indicates that RYLD experiences smaller price fluctuations and is considered to be less risky than FTQI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RYLD	FTQI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.58%	2.92%	-1.34%
Volatility (6M) Calculated over the trailing 6-month period	7.69%	8.83%	-1.14%
Volatility (1Y) Calculated over the trailing 1-year period	10.66%	10.87%	-0.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.02%	14.82%	-0.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.08%	12.98%	+4.10%

RYLD vs. FTQI - Expense Ratio Comparison

RYLD has a 0.60% expense ratio, which is lower than FTQI's 0.75% expense ratio.

Dividends

RYLD vs. FTQI - Dividend Comparison

RYLD's dividend yield for the trailing twelve months is around 11.46%, more than FTQI's 10.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTQI First Trust Nasdaq BuyWrite Income ETF	10.92%	11.46%	11.66%	11.49%	9.85%	3.05%	3.27%	2.95%	3.27%	2.74%	3.02%	3.54%
RYLD Global X Russell 2000 Covered Call ETF	11.46%	12.00%	12.03%	12.64%	13.49%	12.35%	10.76%	6.43%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both RYLD and FTQI in my portfolio?

RYLD and FTQI have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RYLD or FTQI?

FTQI has higher volatility (2.92%) compared to RYLD (1.58%). In terms of maximum drawdown, RYLD dropped -41.53% vs FTQI's -19.42%.

Which ETF is better, RYLD or FTQI?

On 5-year performance, FTQI leads with 12.26% vs 3.49% for RYLD. On fees, RYLD is cheaper at 0.60% per year. On volatility, RYLD has been the lower-risk option at 1.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RYLD or FTQI?

Over the 5-year period, FTQI has performed better with a 12.26% return vs 3.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RYLD or FTQI?

RYLD is cheaper with a 0.60% expense ratio, compared with 0.75% for FTQI.

Which ETF pays a higher dividend yield, RYLD or FTQI?

RYLD has the higher dividend yield at 11.46%, compared with 10.92% for FTQI.

What is the main difference between RYLD and FTQI?

RYLD is categorized as Derivative Income, while FTQI is Nasdaq-100. RYLD tracks CBOE Russell 2000 BuyWrite Index, while FTQI tracks NASDAQ-100 Index. They also come from different issuers: Global X and First Trust. Their fees differ too: 0.60% for RYLD and 0.75% for FTQI.

Which has better risk-adjusted returns?

FTQI currently has the higher Sharpe Ratio (2.43 vs 1.98), 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.