ZCBB vs. QYLD

Last updated Jun 6, 2026

ZCBB (Global X Zero Coupon Bond 2031 ETF) and QYLD (Global X NASDAQ 100 Covered Call ETF) are both exchange-traded funds - ZCBB is a Government Bonds fund tracking the FTSE Zero Coupon U.S. Treasury STRIPS 2031 Maturity Index, while QYLD is a Nasdaq-100 fund tracking the CBOE NASDAQ-100 Buy Write V2. Both are passively managed. At a 0.28 correlation, their price movements are largely independent. ZCBB charges 0.07%/yr vs 0.60%/yr for QYLD.

Performance

ZCBB vs. QYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Zero Coupon Bond 2031 ETF (ZCBB) and Global X NASDAQ 100 Covered Call ETF (QYLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ZCBB

• 1D: -0.46%
• 1M: -1.07%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QYLD

• 1D: -1.82%
• 1M: -0.67%
• YTD: 5.92%
• 6M: 7.78%
• 1Y: 21.82%
• 3Y*: 13.07%
• 5Y*: 8.04%
• 10Y*: 9.61%

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

ZCBB vs. QYLD - Yearly Performance Comparison

	2026 (YTD)
ZCBB Global X Zero Coupon Bond 2031 ETF	-0.80%
QYLD Global X NASDAQ 100 Covered Call ETF	4.97%

Correlation

The correlation between ZCBB and QYLD is 0.28, 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 Jan 8, 2026	0.28

Return for Risk

ZCBB 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: 85
QYLD Sharpe Ratio Rank: 79
QYLD Sortino Ratio Rank: 79
QYLD Omega Ratio Rank: 89
QYLD Calmar Ratio Rank: 84
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.

ZCBB vs. QYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Zero Coupon Bond 2031 ETF (ZCBB) 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

	ZCBB	QYLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.50	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.55	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.62	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.51	0.58	-1.09

Drawdowns

ZCBB vs. QYLD - Drawdown Comparison

The maximum ZCBB drawdown since its inception was -3.05%, smaller than the maximum QYLD drawdown of -24.75%. Use the drawdown chart below to compare losses from any high point for ZCBB and QYLD.

Drawdown Indicators

	ZCBB	QYLD	Difference
Max Drawdown Largest peak-to-trough decline	-3.05%	-24.75%	+21.70%
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	-2.65%	-1.87%	-0.78%
Average Drawdown Average peak-to-trough decline	-1.25%	-3.84%	+2.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.85%	—

Volatility

Volatility by Period

	ZCBB	QYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.64%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.37%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.87%	8.78%	-4.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.87%	14.71%	-10.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.87%	15.50%	-11.63%

ZCBB vs. QYLD - Expense Ratio Comparison

ZCBB has a 0.07% expense ratio, which is lower than QYLD's 0.60% expense ratio.

Dividends

ZCBB vs. QYLD - Dividend Comparison

ZCBB's dividend yield for the trailing twelve months is around 1.56%, less than QYLD's 11.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QYLD Global X NASDAQ 100 Covered Call ETF	11.67%	11.55%	12.50%	11.78%	13.75%	12.85%	11.16%	9.84%	12.44%	7.69%	9.15%	9.42%
ZCBB Global X Zero Coupon Bond 2031 ETF	1.56%	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 ZCBB and QYLD in my portfolio?

ZCBB and QYLD have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ZCBB or QYLD?

On fees, ZCBB is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ZCBB or QYLD?

ZCBB is cheaper with a 0.07% expense ratio, compared with 0.60% for QYLD.

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

QYLD has the higher dividend yield at 11.67%, compared with 1.56% for ZCBB.

What is the main difference between ZCBB and QYLD?

ZCBB is categorized as Government Bonds, while QYLD is Nasdaq-100. ZCBB tracks FTSE Zero Coupon U.S. Treasury STRIPS 2031 Maturity Index, while QYLD tracks CBOE NASDAQ-100 Buy Write V2. Their fees differ too: 0.07% for ZCBB and 0.60% for QYLD.