SCLZ vs. QYLD

Last updated Jun 4, 2026

SCLZ (Swan Enhanced Dividend Income ETF) and QYLD (Global X NASDAQ 100 Covered Call ETF) are both exchange-traded funds - SCLZ is a Derivative Income fund actively managed by Swan, while QYLD is a Nasdaq-100 fund tracking the CBOE NASDAQ-100 Buy Write V2. SCLZ is actively managed, while QYLD is passively managed. Over the past year, SCLZ returned 16.69% vs 23.93% for QYLD. A 0.73 correlation means they provide meaningful diversification when combined. SCLZ charges 0.79%/yr vs 0.60%/yr for QYLD.

Performance

SCLZ vs. QYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Swan Enhanced Dividend Income ETF (SCLZ) and Global X NASDAQ 100 Covered Call ETF (QYLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SCLZ achieves a 6.46% return, which is significantly lower than QYLD's 7.88% return.

SCLZ

• 1D: -0.23%
• 1M: 2.97%
• YTD: 6.46%
• 6M: 7.49%
• 1Y: 16.69%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QYLD

• 1D: -0.06%
• 1M: 1.62%
• YTD: 7.88%
• 6M: 9.97%
• 1Y: 23.93%
• 3Y*: 13.80%
• 5Y*: 8.43%
• 10Y*: 9.80%

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

SCLZ vs. QYLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SCLZ Swan Enhanced Dividend Income ETF	6.46%	11.12%	11.89%
QYLD Global X NASDAQ 100 Covered Call ETF	7.88%	9.28%	13.76%

Correlation

The correlation between SCLZ and QYLD is 0.78, 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	0.78
Correlation (All Time) Calculated using the full available price history since Feb 28, 2024	0.73

The correlation between SCLZ and QYLD has been stable across timeframes, ranging from 0.73 to 0.78 - a consistent structural relationship.

Return for Risk

SCLZ vs. QYLD — Risk / Return Rank

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

SCLZ

SCLZ Risk / Return Rank: 57
SCLZ Sharpe Ratio Rank: 55
SCLZ Sortino Ratio Rank: 56
SCLZ Omega Ratio Rank: 58
SCLZ Calmar Ratio Rank: 49
SCLZ Martin Ratio Rank: 65

QYLD

QYLD Risk / Return Rank: 88
QYLD Sharpe Ratio Rank: 84
QYLD Sortino Ratio Rank: 85
QYLD Omega Ratio Rank: 92
QYLD Calmar Ratio Rank: 86
QYLD 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.

SCLZ vs. QYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Swan Enhanced Dividend Income ETF (SCLZ) and Global X NASDAQ 100 Covered Call ETF (QYLD). 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.

	SCLZ	QYLD	Difference
Sharpe ratio: Return per unit of total volatility	1.84	2.80	-0.97
Sortino ratio: Return per unit of downside risk	2.62	3.92	-1.29
Omega ratio: Gain probability vs. loss probability	1.35	1.63	-0.28
Calmar ratio: Return relative to maximum drawdown	2.40	4.84	-2.44
Martin ratio: Return relative to average drawdown	11.60	28.36	-16.76
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SCLZ vs. QYLD - Sharpe Ratio Comparison

The current SCLZ Sharpe Ratio is 1.84, which is lower than the QYLD Sharpe Ratio of 2.80. The chart below compares the historical Sharpe Ratios of SCLZ and QYLD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SCLZ	QYLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.84	2.80	-0.97
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.58	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.63	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.17	0.59	+0.58

Drawdowns

SCLZ vs. QYLD - Drawdown Comparison

The maximum SCLZ drawdown since its inception was -12.58%, smaller than the maximum QYLD drawdown of -24.75%. Use the drawdown chart below to compare losses from any high point for SCLZ and QYLD.

Drawdown Indicators

	SCLZ	QYLD	Difference
Max Drawdown Largest peak-to-trough decline	-12.58%	-24.75%	+12.17%
Max Drawdown (1Y) Largest decline over 1 year	-7.00%	-4.97%	-2.03%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.06%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.61%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-24.75%	—
Current Drawdown Current decline from peak	-0.23%	-0.06%	-0.17%
Average Drawdown Average peak-to-trough decline	-1.37%	-3.84%	+2.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.44%	0.85%	+0.59%

Volatility

SCLZ vs. QYLD - Volatility Comparison

The current volatility for Swan Enhanced Dividend Income ETF (SCLZ) is 1.62%, while Global X NASDAQ 100 Covered Call ETF (QYLD) has a volatility of 1.85%. This indicates that SCLZ experiences smaller price fluctuations and is considered to be less risky than QYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCLZ	QYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.62%	1.85%	-0.23%
Volatility (6M) Calculated over the trailing 6-month period	7.38%	7.12%	+0.26%
Volatility (1Y) Calculated over the trailing 1-year period	9.13%	8.58%	+0.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.35%	14.70%	-3.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.35%	15.49%	-4.14%

SCLZ vs. QYLD - Expense Ratio Comparison

SCLZ has a 0.79% expense ratio, which is higher than QYLD's 0.60% expense ratio.

Dividends

SCLZ vs. QYLD - Dividend Comparison

SCLZ's dividend yield for the trailing twelve months is around 9.15%, less than QYLD's 11.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QYLD Global X NASDAQ 100 Covered Call ETF	11.46%	11.55%	12.50%	11.78%	13.75%	12.85%	11.16%	9.84%	12.44%	7.69%	9.15%	9.42%
SCLZ Swan Enhanced Dividend Income ETF	9.15%	7.53%	4.86%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SCLZ and QYLD in my portfolio?

SCLZ and QYLD have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SCLZ or QYLD?

QYLD has higher volatility (1.85%) compared to SCLZ (1.62%). In terms of maximum drawdown, SCLZ dropped -12.58% vs QYLD's -24.75%.

Which ETF is better, SCLZ or QYLD?

On 1-year performance, QYLD leads with 23.93% vs 16.69% for SCLZ. On fees, QYLD is cheaper at 0.60% per year. On volatility, SCLZ has been the lower-risk option at 1.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCLZ or QYLD?

Over the 1-year period, QYLD has performed better with a 23.93% return vs 16.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCLZ or QYLD?

QYLD is cheaper with a 0.60% expense ratio, compared with 0.79% for SCLZ.

Which ETF pays a higher dividend yield, SCLZ or QYLD?

QYLD has the higher dividend yield at 11.46%, compared with 9.15% for SCLZ.

What is the main difference between SCLZ and QYLD?

SCLZ is categorized as Derivative Income, while QYLD is Nasdaq-100. They also come from different issuers: Swan and Global X. Their fees differ too: 0.79% for SCLZ and 0.60% for QYLD.

Which has better risk-adjusted returns?

QYLD currently has the higher Sharpe Ratio (2.80 vs 1.84), 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.