ZCBC vs. QYLD

Last updated Jun 6, 2026

ZCBC (Global X Zero Coupon Bond 2032 ETF) and QYLD (Global X NASDAQ 100 Covered Call ETF) are both exchange-traded funds - ZCBC is a Government Bonds fund tracking the FTSE Zero Coupon U.S. Treasury STRIPS 2032 Maturity Index, while QYLD is a Nasdaq-100 fund tracking the CBOE NASDAQ-100 Buy Write V2. Both are passively managed. At a 0.29 correlation, their price movements are largely independent. ZCBC charges 0.07%/yr vs 0.60%/yr for QYLD.

Performance

ZCBC vs. QYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Zero Coupon Bond 2032 ETF (ZCBC) and Global X NASDAQ 100 Covered Call ETF (QYLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ZCBC

• 1D: -0.51%
• 1M: -1.15%
• 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)

ZCBC vs. QYLD - Yearly Performance Comparison

	2026 (YTD)
ZCBC Global X Zero Coupon Bond 2032 ETF	-0.79%
QYLD Global X NASDAQ 100 Covered Call ETF	4.97%

Correlation

The correlation between ZCBC and QYLD is 0.29, 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	0.29

Return for Risk

ZCBC 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.

ZCBC vs. QYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Zero Coupon Bond 2032 ETF (ZCBC) 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

	ZCBC	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	-0.42	0.58	-1.00

Drawdowns

ZCBC vs. QYLD - Drawdown Comparison

The maximum ZCBC drawdown since its inception was -3.65%, smaller than the maximum QYLD drawdown of -24.75%. Use the drawdown chart below to compare losses from any high point for ZCBC and QYLD.

Drawdown Indicators

	ZCBC	QYLD	Difference
Max Drawdown Largest peak-to-trough decline	-3.65%	-24.75%	+21.10%
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	-3.05%	-1.87%	-1.18%
Average Drawdown Average peak-to-trough decline	-1.46%	-3.84%	+2.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.85%	—

Volatility

Volatility by Period

	ZCBC	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	4.59%	8.78%	-4.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.59%	14.71%	-10.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.59%	15.50%	-10.91%

ZCBC vs. QYLD - Expense Ratio Comparison

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

Dividends

ZCBC vs. QYLD - Dividend Comparison

ZCBC's dividend yield for the trailing twelve months is around 1.61%, 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%
ZCBC Global X Zero Coupon Bond 2032 ETF	1.61%	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 ZCBC and QYLD in my portfolio?

ZCBC and QYLD have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ZCBC or QYLD?

On fees, ZCBC 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, ZCBC or QYLD?

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

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

QYLD has the higher dividend yield at 11.67%, compared with 1.61% for ZCBC.

What is the main difference between ZCBC and QYLD?

ZCBC is categorized as Government Bonds, while QYLD is Nasdaq-100. ZCBC tracks FTSE Zero Coupon U.S. Treasury STRIPS 2032 Maturity Index, while QYLD tracks CBOE NASDAQ-100 Buy Write V2. Their fees differ too: 0.07% for ZCBC and 0.60% for QYLD.