XSPI vs. QYLD

Last updated Jun 4, 2026

XSPI (NEOS Boosted S&P 500 High Income ETF) and QYLD (Global X NASDAQ 100 Covered Call ETF) are both exchange-traded funds - XSPI is a Derivative Income fund tracking the S&P 500, while QYLD is a Nasdaq-100 fund tracking the CBOE NASDAQ-100 Buy Write V2. Both are passively managed. Their correlation of 0.86 suggests significant overlap in exposure. XSPI charges 0.98%/yr vs 0.60%/yr for QYLD.

Performance

XSPI vs. QYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NEOS Boosted S&P 500 High Income ETF (XSPI) and Global X NASDAQ 100 Covered Call ETF (QYLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

XSPI

• 1D: -0.89%
• 1M: 5.09%
• YTD: —
• 6M: —
• 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)

XSPI vs. QYLD - Yearly Performance Comparison

	2026 (YTD)
XSPI NEOS Boosted S&P 500 High Income ETF	8.22%
QYLD Global X NASDAQ 100 Covered Call ETF	6.50%

Correlation

The correlation between XSPI and QYLD is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 4, 2026	0.86

Return for Risk

XSPI 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.

XSPI vs. QYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NEOS Boosted S&P 500 High Income ETF (XSPI) 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

	XSPI	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	1.55	0.59	+0.96

Drawdowns

XSPI vs. QYLD - Drawdown Comparison

The maximum XSPI drawdown since its inception was -11.59%, smaller than the maximum QYLD drawdown of -24.75%. Use the drawdown chart below to compare losses from any high point for XSPI and QYLD.

Drawdown Indicators

	XSPI	QYLD	Difference
Max Drawdown Largest peak-to-trough decline	-11.59%	-24.75%	+13.16%
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	-0.89%	-0.06%	-0.83%
Average Drawdown Average peak-to-trough decline	-2.23%	-3.84%	+1.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.85%	—

Volatility

Volatility by Period

	XSPI	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	17.64%	8.58%	+9.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.64%	14.70%	+2.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.64%	15.49%	+2.15%

XSPI vs. QYLD - Expense Ratio Comparison

XSPI has a 0.98% expense ratio, which is higher than QYLD's 0.60% expense ratio.

Dividends

XSPI vs. QYLD - Dividend Comparison

XSPI's dividend yield for the trailing twelve months is around 6.83%, 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%
XSPI NEOS Boosted S&P 500 High Income ETF	6.83%	0.00%	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 XSPI and QYLD in my portfolio?

XSPI and QYLD have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XSPI or QYLD?

On fees, QYLD is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XSPI or QYLD?

QYLD is cheaper with a 0.60% expense ratio, compared with 0.98% for XSPI.

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

QYLD has the higher dividend yield at 11.46%, compared with 6.83% for XSPI.

What is the main difference between XSPI and QYLD?

XSPI is categorized as Derivative Income, while QYLD is Nasdaq-100. XSPI tracks S&P 500, while QYLD tracks CBOE NASDAQ-100 Buy Write V2. They also come from different issuers: NEOS Investments and Global X. Their fees differ too: 0.98% for XSPI and 0.60% for QYLD.