XLVI vs. QYLD

Last updated Jun 4, 2026

XLVI (State Street Health Care Select Sector SPDR Premium Income ETF) and QYLD (Global X NASDAQ 100 Covered Call ETF) are both exchange-traded funds - XLVI is a Derivative Income fund actively managed by State Street, while QYLD is a Nasdaq-100 fund tracking the CBOE NASDAQ-100 Buy Write V2. XLVI is actively managed, while QYLD is passively managed. At a 0.30 correlation, their price movements are largely independent. XLVI charges 0.35%/yr vs 0.60%/yr for QYLD.

Performance

XLVI vs. QYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Health Care Select Sector SPDR Premium Income ETF (XLVI) 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, XLVI achieves a -0.67% return, which is significantly lower than QYLD's 7.88% return.

XLVI

• 1D: 0.67%
• 1M: 2.30%
• YTD: -0.67%
• 6M: 0.76%
• 1Y: —
• 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)

XLVI vs. QYLD - Yearly Performance Comparison

	2026 (YTD)	2025
XLVI State Street Health Care Select Sector SPDR Premium Income ETF	-0.67%	12.79%
QYLD Global X NASDAQ 100 Covered Call ETF	7.88%	10.72%

Correlation

The correlation between XLVI and QYLD is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 31, 2025	0.30

XLVI vs. QYLD - Sectors Allocation Comparison

Sectors	XLVI	QYLD
Financial Services	100.6%	0.2%
Basic Materials	-	1.1%
Communication Services	-	15.8%
Consumer Cyclical	-	12.3%
Consumer Defensive	-	7.7%
Energy	-	0.6%
Healthcare	-	4.2%
Industrials	-	2.8%
Real Estate	-	0.1%
Technology	-	53.8%
Utilities	-	1.4%

Return for Risk

XLVI vs. QYLD — Risk / Return Rank

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

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.

XLVI vs. QYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Health Care Select Sector SPDR Premium Income ETF (XLVI) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	XLVI	QYLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.80	—
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	1.33	0.59	+0.73

Drawdowns

XLVI vs. QYLD - Drawdown Comparison

The maximum XLVI drawdown since its inception was -8.14%, smaller than the maximum QYLD drawdown of -24.75%. Use the drawdown chart below to compare losses from any high point for XLVI and QYLD.

Drawdown Indicators

	XLVI	QYLD	Difference
Max Drawdown Largest peak-to-trough decline	-8.14%	-24.75%	+16.61%
Max Drawdown (1Y) Largest decline over 1 year	—	-4.97%	—
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	-4.02%	-0.06%	-3.96%
Average Drawdown Average peak-to-trough decline	-1.95%	-3.84%	+1.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.85%	—

Volatility

Volatility by Period

	XLVI	QYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.85%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.12%	—
Volatility (1Y) Calculated over the trailing 1-year period	10.94%	8.58%	+2.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.94%	14.70%	-3.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.94%	15.49%	-4.55%

XLVI vs. QYLD - Expense Ratio Comparison

XLVI has a 0.35% expense ratio, which is lower than QYLD's 0.60% expense ratio.

Dividends

XLVI vs. QYLD - Dividend Comparison

XLVI's dividend yield for the trailing twelve months is around 11.53%, which matches 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%
XLVI State Street Health Care Select Sector SPDR Premium Income ETF	11.53%	5.73%	0.00%	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 XLVI and QYLD in my portfolio?

XLVI and QYLD have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XLVI or QYLD?

On fees, XLVI is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XLVI or QYLD?

XLVI is cheaper with a 0.35% expense ratio, compared with 0.60% for QYLD.

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

XLVI has the higher dividend yield at 11.53%, compared with 11.46% for QYLD.

What is the main difference between XLVI and QYLD?

XLVI is categorized as Derivative Income, while QYLD is Nasdaq-100. They also come from different issuers: State Street and Global X. Their fees differ too: 0.35% for XLVI and 0.60% for QYLD.