TILT vs. QYLD

Last updated Jun 4, 2026

TILT (FlexShares Morningstar US Market Factor Tilt Index Fund) and QYLD (Global X NASDAQ 100 Covered Call ETF) are both exchange-traded funds - TILT is a Large Cap Blend Equities fund tracking the Morningstar US Market Factor Tilt 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, TILT returned 13.96%/yr vs 9.80%/yr for QYLD. A 0.73 correlation means they provide meaningful diversification when combined. TILT charges 0.25%/yr vs 0.60%/yr for QYLD.

Performance

TILT vs. QYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FlexShares Morningstar US Market Factor Tilt Index Fund (TILT) 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, TILT achieves a 10.68% return, which is significantly higher than QYLD's 7.88% return. Over the past 10 years, TILT has outperformed QYLD with an annualized return of 13.96%, while QYLD has yielded a comparatively lower 9.80% annualized return.

TILT

• 1D: -0.67%
• 1M: 4.39%
• YTD: 10.68%
• 6M: 10.81%
• 1Y: 28.46%
• 3Y*: 20.80%
• 5Y*: 11.59%
• 10Y*: 13.96%

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)

TILT vs. QYLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TILT FlexShares Morningstar US Market Factor Tilt Index Fund	10.68%	16.59%	19.88%	24.70%	-17.25%	27.61%	16.05%	29.01%	-8.93%	18.33%
QYLD Global X NASDAQ 100 Covered Call ETF	7.88%	9.28%	19.35%	22.77%	-19.08%	10.41%	8.72%	22.69%	-3.07%	18.79%

Correlation

The correlation between TILT and QYLD is 0.77, 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	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.74
Correlation (All Time) Calculated using the full available price history since Dec 13, 2013	0.73

The correlation between TILT and QYLD has been stable across timeframes, ranging from 0.73 to 0.81 - a consistent structural relationship.

TILT vs. QYLD - Sectors Allocation Comparison

Sectors	TILT	QYLD
Technology	27.2%	53.8%
Financial Services	16.0%	0.2%
Consumer Cyclical	10.9%	12.3%
Industrials	10.1%	2.8%
Healthcare	9.4%	4.2%
Communication Services	8.6%	15.8%
Energy	4.8%	0.6%
Consumer Defensive	4.7%	7.7%
Real Estate	3.1%	0.1%
Basic Materials	2.7%	1.1%
Utilities	2.4%	1.4%

Return for Risk

TILT vs. QYLD — Risk / Return Rank

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

TILT

TILT Risk / Return Rank: 71
TILT Sharpe Ratio Rank: 71
TILT Sortino Ratio Rank: 70
TILT Omega Ratio Rank: 70
TILT Calmar Ratio Rank: 68
TILT Martin Ratio Rank: 77

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.

TILT vs. QYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FlexShares Morningstar US Market Factor Tilt Index Fund (TILT) 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.

	TILT	QYLD	Difference
Sharpe ratio: Return per unit of total volatility	2.33	2.80	-0.47
Sortino ratio: Return per unit of downside risk	3.22	3.92	-0.70
Omega ratio: Gain probability vs. loss probability	1.42	1.63	-0.21
Calmar ratio: Return relative to maximum drawdown	3.36	4.84	-1.48
Martin ratio: Return relative to average drawdown	14.71	28.36	-13.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TILT vs. QYLD - Sharpe Ratio Comparison

The current TILT Sharpe Ratio is 2.33, which is comparable to the QYLD Sharpe Ratio of 2.80. The chart below compares the historical Sharpe Ratios of TILT 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

	TILT	QYLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.33	2.80	-0.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.67	0.58	+0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.75	0.63	+0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.83	0.59	+0.24

Drawdowns

TILT vs. QYLD - Drawdown Comparison

The maximum TILT drawdown since its inception was -38.46%, which is greater than QYLD's maximum drawdown of -24.75%. Use the drawdown chart below to compare losses from any high point for TILT and QYLD.

Drawdown Indicators

	TILT	QYLD	Difference
Max Drawdown Largest peak-to-trough decline	-38.46%	-24.75%	-13.71%
Max Drawdown (1Y) Largest decline over 1 year	-8.51%	-4.97%	-3.54%
Max Drawdown (3Y) Largest decline over 3 years	-19.85%	-19.06%	-0.79%
Max Drawdown (5Y) Largest decline over 5 years	-24.12%	-24.61%	+0.49%
Max Drawdown (10Y) Largest decline over 10 years	-38.46%	-24.75%	-13.71%
Current Drawdown Current decline from peak	-0.67%	-0.06%	-0.61%
Average Drawdown Average peak-to-trough decline	-4.23%	-3.84%	-0.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.94%	0.85%	+1.09%

Volatility

TILT vs. QYLD - Volatility Comparison

FlexShares Morningstar US Market Factor Tilt Index Fund (TILT) has a higher volatility of 3.04% compared to Global X NASDAQ 100 Covered Call ETF (QYLD) at 1.85%. This indicates that TILT's price experiences larger fluctuations and is considered to be riskier than QYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TILT	QYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.04%	1.85%	+1.19%
Volatility (6M) Calculated over the trailing 6-month period	8.95%	7.12%	+1.83%
Volatility (1Y) Calculated over the trailing 1-year period	12.29%	8.58%	+3.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.39%	14.70%	+2.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.75%	15.49%	+3.26%

TILT vs. QYLD - Expense Ratio Comparison

TILT has a 0.25% expense ratio, which is lower than QYLD's 0.60% expense ratio.

Dividends

TILT vs. QYLD - Dividend Comparison

TILT's dividend yield for the trailing twelve months is around 1.07%, 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%
TILT FlexShares Morningstar US Market Factor Tilt Index Fund	1.07%	1.15%	1.23%	1.44%	1.60%	1.16%	1.49%	1.54%	1.97%	1.55%	1.60%	1.98%

Frequently Asked Questions

Can I hold both TILT and QYLD in my portfolio?

TILT and QYLD have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TILT or QYLD?

TILT has higher volatility (3.04%) compared to QYLD (1.85%). In terms of maximum drawdown, TILT dropped -38.46% vs QYLD's -24.75%.

Which ETF is better, TILT or QYLD?

On 10-year performance, TILT leads with 13.96% vs 9.80% for QYLD. On fees, TILT is cheaper at 0.25% per year. On volatility, QYLD has been the lower-risk option at 1.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TILT or QYLD?

Over the 10-year period, TILT has performed better with a 13.96% return vs 9.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TILT or QYLD?

TILT is cheaper with a 0.25% expense ratio, compared with 0.60% for QYLD.

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

QYLD has the higher dividend yield at 11.46%, compared with 1.07% for TILT.

What is the main difference between TILT and QYLD?

TILT is categorized as Large Cap Blend Equities, while QYLD is Nasdaq-100. TILT tracks Morningstar US Market Factor Tilt Index, while QYLD tracks CBOE NASDAQ-100 Buy Write V2. They also come from different issuers: FlexShares and Global X. Their fees differ too: 0.25% for TILT and 0.60% for QYLD.

Which has better risk-adjusted returns?

QYLD currently has the higher Sharpe Ratio (2.80 vs 2.33), 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.