SPY5.DE vs. QYLD

Last updated Jul 4, 2026

SPY5.DE (SPDR S&P 500 UCITS ETF) and QYLD (Global X NASDAQ 100 Covered Call ETF) are both exchange-traded funds - SPY5.DE is a S&P 500 fund tracking the S&P 500 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, SPY5.DE returned 14.69%/yr vs 9.57%/yr for QYLD. A 0.53 correlation means they provide meaningful diversification when combined. SPY5.DE charges 0.03%/yr vs 0.60%/yr for QYLD.

Performance

SPY5.DE vs. QYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in SPDR S&P 500 UCITS ETF (SPY5.DE) and Global X NASDAQ 100 Covered Call ETF (QYLD). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

SPY5.DE is traded in EUR, while QYLD is traded in USD. To make them comparable, the QYLD values have been converted to EUR using the latest available exchange rates.

Returns By Period

The year-to-date returns for both stocks are quite close, with SPY5.DE having a 12.25% return and QYLD slightly lower at 11.70%. Over the past 10 years, SPY5.DE has outperformed QYLD with an annualized return of 14.69%, while QYLD has yielded a comparatively lower 9.57% annualized return.

SPY5.DE

• 1D: 0.23%
• 1M: 0.64%
• 6M: 13.05%
• YTD: 12.25%
• 1Y: 24.10%
• 3Y*: 18.38%
• 5Y*: 13.70%
• 10Y*: 14.69%

QYLD

• 1D: -1.60%
• 1M: 2.23%
• 6M: 11.38%
• YTD: 11.70%
• 1Y: 25.23%
• 3Y*: 11.89%
• 5Y*: 9.07%
• 10Y*: 9.57%

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

SPY5.DE vs. QYLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPY5.DE SPDR S&P 500 UCITS ETF	12.25%	4.75%	32.36%	22.42%	-14.24%	40.60%	6.73%	34.44%	-2.03%	6.29%
QYLD Global X NASDAQ 100 Covered Call ETF	11.70%	-3.68%	27.23%	19.09%	-14.06%	18.67%	-0.24%	25.47%	1.48%	4.19%

Correlation

The correlation between SPY5.DE and QYLD is 0.57, 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	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.50
Correlation (10Y) Calculated over the trailing 10-year period	0.51
Correlation (All Time) Calculated using the full available price history since Dec 12, 2013	0.53

The correlation between SPY5.DE and QYLD has been stable across timeframes, ranging from 0.50 to 0.57 - a consistent structural relationship.

Return for Risk

SPY5.DE vs. QYLD — Risk / Return Rank

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

SPY5.DE

SPY5.DE Risk / Return Rank: 77
SPY5.DE Sharpe Ratio Rank: 78
SPY5.DE Sortino Ratio Rank: 76
SPY5.DE Omega Ratio Rank: 76
SPY5.DE Calmar Ratio Rank: 79
SPY5.DE Martin Ratio Rank: 77

QYLD

QYLD Risk / Return Rank: 89
QYLD Sharpe Ratio Rank: 83
QYLD Sortino Ratio Rank: 85
QYLD Omega Ratio Rank: 90
QYLD Calmar Ratio Rank: 90
QYLD Martin Ratio Rank: 95

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.

SPY5.DE vs. QYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P 500 UCITS ETF (SPY5.DE) 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.

	SPY5.DE	QYLD	Difference
Sharpe ratio: Return per unit of total volatility	2.03	2.38	-0.35
Sortino ratio: Return per unit of downside risk	2.79	3.25	-0.46
Omega ratio: Gain probability vs. loss probability	1.37	1.47	-0.10
Calmar ratio: Return relative to maximum drawdown	3.36	5.98	-2.62
Martin ratio: Return relative to average drawdown	11.87	20.16	-8.29

SPY5.DE vs. QYLD - Sharpe Ratio Comparison

The current SPY5.DE Sharpe Ratio is 2.03, which is comparable to the QYLD Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of SPY5.DE 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.

Drawdowns

SPY5.DE vs. QYLD - Drawdown Comparison

The maximum SPY5.DE drawdown since its inception was -33.86%, which is greater than QYLD's maximum drawdown of -27.40%. Use the drawdown chart below to compare losses from any high point for SPY5.DE and QYLD.

Drawdown Indicators

	SPY5.DE	QYLD	Difference
Max Drawdown Largest peak-to-trough decline	-33.86%	-27.40%	-6.46%
Max Drawdown (1Y) Largest decline over 1 year	-7.15%	-4.35%	-2.80%
Max Drawdown (3Y) Largest decline over 3 years	-23.34%	-23.12%	-0.22%
Max Drawdown (5Y) Largest decline over 5 years	-23.34%	-23.12%	-0.22%
Max Drawdown (10Y) Largest decline over 10 years	-33.86%	-27.40%	-6.46%
Current Drawdown Current decline from peak	-0.62%	-1.96%	+1.34%
Average Drawdown Average peak-to-trough decline	-3.91%	-4.76%	+0.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.03%	1.29%	+0.74%

Volatility

SPY5.DE vs. QYLD - Volatility Comparison

The current volatility for SPDR S&P 500 UCITS ETF (SPY5.DE) is 3.64%, while Global X NASDAQ 100 Covered Call ETF (QYLD) has a volatility of 5.14%. This indicates that SPY5.DE 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

	SPY5.DE	QYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.64%	5.14%	-1.50%
Volatility (6M) Calculated over the trailing 6-month period	8.02%	8.73%	-0.71%
Volatility (1Y) Calculated over the trailing 1-year period	11.88%	10.93%	+0.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.23%	15.54%	-0.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.07%	16.68%	-0.61%

SPY5.DE vs. QYLD - Expense Ratio Comparison

SPY5.DE has a 0.03% expense ratio, which is lower than QYLD's 0.60% expense ratio.

Dividends

SPY5.DE vs. QYLD - Dividend Comparison

SPY5.DE's dividend yield for the trailing twelve months is around 0.90%, less than QYLD's 11.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QYLD Global X NASDAQ 100 Covered Call ETF	11.59%	11.55%	12.50%	11.78%	13.75%	12.85%	11.16%	9.84%	12.44%	7.69%	9.15%	9.42%
SPY5.DE SPDR S&P 500 UCITS ETF	0.90%	0.99%	1.03%	1.22%	1.42%	0.95%	1.37%	1.43%	0.80%	1.21%	1.57%	1.69%

Frequently Asked Questions

Can I hold both SPY5.DE and QYLD in my portfolio?

SPY5.DE and QYLD have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPY5.DE or QYLD?

On fees, SPY5.DE is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPY5.DE or QYLD?

SPY5.DE is cheaper with a 0.03% expense ratio, compared with 0.60% for QYLD.

What is the main difference between SPY5.DE and QYLD?

SPY5.DE is categorized as S&P 500, while QYLD is Nasdaq-100. SPY5.DE tracks S&P 500 Index, while QYLD tracks CBOE NASDAQ-100 Buy Write V2. They also come from different issuers: State Street and Global X. Their fees differ too: 0.03% for SPY5.DE and 0.60% for QYLD.