SPHD vs. QYLD
SPHD (Invesco S&P 500® High Dividend Low Volatility ETF) and QYLD (Global X NASDAQ 100 Covered Call ETF) are both exchange-traded funds - SPHD is a Dividend fund tracking the S&P 500 Low Volatility High Dividend Index, while QYLD is a Nasdaq-100 fund tracking the CBOE NASDAQ-100 Buy Write V2. Both are passively managed. Over the past 10 years, SPHD returned 7.41%/yr vs 9.92%/yr for QYLD. At a 0.40 correlation, their price movements are largely independent. SPHD charges 0.30%/yr vs 0.60%/yr for QYLD.
Performance
SPHD vs. QYLD - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with SPHD having a 8.51% return and QYLD slightly lower at 8.36%. Over the past 10 years, SPHD has underperformed QYLD with an annualized return of 7.41%, while QYLD has yielded a comparatively higher 9.92% annualized return.
SPHD
- 1D
- -1.12%
- 1M
- 4.38%
- YTD
- 8.51%
- 6M
- 7.65%
- 1Y
- 12.70%
- 3Y*
- 11.55%
- 5Y*
- 6.57%
- 10Y*
- 7.41%
QYLD
- 1D
- 0.66%
- 1M
- 2.81%
- YTD
- 8.36%
- 6M
- 10.14%
- 1Y
- 23.80%
- 3Y*
- 13.95%
- 5Y*
- 8.41%
- 10Y*
- 9.92%
SPHD vs. QYLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPHD Invesco S&P 500® High Dividend Low Volatility ETF | 8.51% | 3.41% | 18.08% | 1.32% | 0.58% | 24.98% | -9.98% | 20.26% | -6.17% | 11.90% |
QYLD Global X NASDAQ 100 Covered Call ETF | 8.36% | 9.28% | 19.35% | 22.77% | -19.08% | 10.41% | 8.72% | 22.69% | -3.07% | 18.79% |
Correlation
The correlation between SPHD and QYLD is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.33 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Dec 12, 2013 | 0.40 |
Over the past year, the correlation between SPHD and QYLD has dropped to 0.05 - well below their long-term average of 0.40, suggesting their price drivers have been diverging.
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Return for Risk
SPHD vs. QYLD — Risk / Return Rank
SPHD
QYLD
SPHD vs. QYLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500® High Dividend Low Volatility ETF (SPHD) 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.
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.
| SPHD | QYLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.47 | ||
| Sortino ratioReturn per unit of downside risk | -1.90 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.58 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | 1.74 | 4.81 | -3.07 |
| Martin ratioReturn relative to average drawdown | 4.31 | 27.11 | -22.80 |
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Drawdowns
SPHD vs. QYLD - Drawdown Comparison
The maximum SPHD drawdown since its inception was -41.39%, which is greater than QYLD's maximum drawdown of -24.75%. Use the drawdown chart below to compare losses from any high point for SPHD and QYLD.
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Drawdown Indicators
| SPHD | QYLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.39% | -24.75% | -16.64% |
Max Drawdown (1Y)Largest decline over 1 year | -7.33% | -4.97% | -2.36% |
Max Drawdown (3Y)Largest decline over 3 years | -13.29% | -19.06% | +5.77% |
Max Drawdown (5Y)Largest decline over 5 years | -19.50% | -24.61% | +5.11% |
Max Drawdown (10Y)Largest decline over 10 years | -41.39% | -24.75% | -16.64% |
Current DrawdownCurrent decline from peak | -1.63% | 0.00% | -1.63% |
Average DrawdownAverage peak-to-trough decline | -4.70% | -3.83% | -0.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.96% | 0.88% | +2.08% |
Volatility
SPHD vs. QYLD - Volatility Comparison
Invesco S&P 500® High Dividend Low Volatility ETF (SPHD) and Global X NASDAQ 100 Covered Call ETF (QYLD) have volatilities of 3.91% and 3.87%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPHD | QYLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.91% | 3.87% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 7.86% | 7.86% | 0.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.27% | 9.19% | +2.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.21% | 14.77% | -0.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.66% | 15.53% | +2.13% |
SPHD vs. QYLD - Expense Ratio Comparison
SPHD has a 0.30% expense ratio, which is lower than QYLD's 0.60% expense ratio.
Dividends
SPHD vs. QYLD - Dividend Comparison
SPHD's dividend yield for the trailing twelve months is around 4.45%, less than QYLD's 11.41% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QYLD Global X NASDAQ 100 Covered Call ETF | 11.41% | 11.55% | 12.50% | 11.78% | 13.75% | 12.85% | 11.16% | 9.84% | 12.44% | 7.69% | 9.15% | 9.42% |
SPHD Invesco S&P 500® High Dividend Low Volatility ETF | 4.45% | 4.02% | 3.41% | 4.48% | 3.89% | 3.45% | 4.89% | 4.07% | 4.40% | 3.14% | 3.83% | 3.49% |
Frequently Asked Questions
SPHD and QYLD have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPHD has higher volatility (3.91%) compared to QYLD (3.87%). In terms of maximum drawdown, SPHD dropped -41.39% vs QYLD's -24.75%.
On 10-year performance, QYLD leads with 9.92% vs 7.41% for SPHD. On fees, SPHD is cheaper at 0.30% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, QYLD has performed better with a 9.92% return vs 7.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPHD is cheaper with a 0.30% expense ratio, compared with 0.60% for QYLD.
QYLD has the higher dividend yield at 11.41%, compared with 4.45% for SPHD.
SPHD is categorized as Dividend, while QYLD is Nasdaq-100. SPHD tracks S&P 500 Low Volatility High Dividend Index, while QYLD tracks CBOE NASDAQ-100 Buy Write V2. They also come from different issuers: Invesco and Global X. Their fees differ too: 0.30% for SPHD and 0.60% for QYLD.
QYLD currently has the higher Sharpe Ratio (2.61 vs 1.13), 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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