ETF Comparison

QDTE vs QYLD: Which Is the Better Pick in 2026?

A head-to-head comparison of Roundhill Nasdaq-100® 0DTE Covered Call Strategy ETF and Global X Nasdaq 100 Covered Call ETF covering yield, cost, risk, and income potential.

Updated September 30, 2026

How these figures are calculated: methodology.

Best for

QDTEInvestors who want to maximize current income — roughly 19.75%, generated by selling options premium.
QYLDInvestors who are comfortable trading away most upside for a large, steady payout.

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Visual comparison

Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year.

QDTE has lagged QYLD over the trailing twelve months, posting a 22.67% total return against 23.12%. Measured from Mar 2024 — the start of shared available history — QDTE has compounded at 20.84% a year versus 14.66% for QYLD. QYLD has been the steadier holding, though — annualized volatility of 11.2% against 18.3% for QDTE. Figures are total returns: price change plus every distribution reinvested.

Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
Symbol	YTD cumulative	1Y cumulative	Since Mar 2024	Volatility	Sharpe	Sortino	Max drawdown
QDTE	17.67%	22.67%	20.84%	18.3%	0.87	1.21	-10.2%
QYLD	14.80%	23.12%	14.66%	11.2%	1.46	2.18	-5.8%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 30, 2026. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year. “Since Mar 2024” measures every fund from March 7, 2024 — the start of shared available history — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the past year. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the past year) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Distribution rate, SEC yield and return of capital

Metric	QDTE	QYLD
Forward distribution rate	19.75%	11.43%
Trailing 12-month yield	44.08%	11.49%
30-day SEC yield	—	0.02%
Return of capital	100.00%	—

Total return (price change plus reinvested distributions) is the Total returns section above. Return of capital is the share of a recent distribution that was not income. A 30-day SEC yield can sit far from the headline distribution rate; both numbers are the fund's own published fields.

Total return against the stated underlying is on QDTE vs QQQ.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
Metric	QDTE	QYLD
Full name	Roundhill Nasdaq-100® 0DTE Covered Call Strategy ETF	Global X Nasdaq 100 Covered Call ETF
Issuer	Roundhill Investments	Global X
Last Close	$29.21 as of September 30, 2026	$18.55 as of September 30, 2026
Distribution rate	19.75%	11.43%
Trailing 12-month yield	44.08%	11.49%
30-day SEC yield	—	0.02%
Distribution Safety Score™	74	83
Safety-Adjusted Yield	14.62%	9.49%
Expense ratio	0.96%	0.60%
AUM	$983M	$8.51B
Distribution frequency	Weekly	Monthly
Underlying index	Nasdaq-100	Cboe Nasdaq-100 BuyWrite V2 Index
Objective	Seeks weekly income by investing at least 80% of net assets in instruments that provide exposure to the Nasdaq-100 Index and writing zero-days-to-expiration (0DTE) call options against that exposure.	Seeks monthly income by tracking the Cboe Nasdaq-100 BuyWrite Index, holding the Nasdaq-100 stocks and writing a succession of one-month at-the-money covered call options on the index.
Asset class	Equity	Equity
Inception date	03/07/2024	12/11/2013
Beta	1.1903	0.49
Last dividend	$0.110957 declared, pays 10/02/2026	$0.1767
Ex-dividend date	10/01/2026 upcoming	09/21/2026

Bottom lineChoose QDTE if you want to maximize current income — roughly 19.75%, generated by selling options premium. Choose QYLD if you are comfortable trading away most upside for a large, steady payout. QDTE and QYLD both use option or derivative overlays. Their tradeoff is the underlying exposure, how each option strategy is implemented, and the yield each targets; either overlay can limit upside participation, so neither offers uncapped price exposure.

How the risk works

Read this before the income numbers below: the strategy mechanics on this page shape what those payouts can cost you.

Capped upside and premium dependence. QDTE and QYLD generate income by selling options, which trades away part of a strong rally in exchange for premium. Distributions can include return of capital, and a payout the underlying assets cannot sustain shows up as NAV erosion over time — the big yield number is not free.

Learn the mechanics: Return of capital, explained · NAV erosion, explained

Model this comparison:

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Income calculator

See how much monthly income a hypothetical investment would generate in each ETF at current yields.

Roundhill Investments

ETFs56

Total AUM$39.7B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

Roundhill Investments is known for offering innovative, specialized ETFs that often feature weekly dividend distributions and exposure to trending themes and individual mega-cap stocks. Their lineup spans income-focused strategies, leveraged products, thematic investments in areas like cryptocurrency and artificial intelligence, and weekly-pay funds that appeal to investors seeking frequent distributions. The issuer has built a distinctive niche with products targeting both traditional income seekers and those interested in emerging sectors, offering a diverse range of tickers that go well beyond conventional dividend vehicles.

See our curated list of related YouTube videos on QDTE.

See all Roundhill Investments ETFs

Global X

ETFs117

Total AUM$94.9B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

Global X is known for developing thematic and alternative investment ETFs with a strong emphasis on income-generating strategies. Their 37-fund lineup spans diverse categories including covered call funds, SuperDividend income products, digital assets, commodities, and sector-specific investments, alongside traditional bond and risk-managed income options. Notable tickers like DIV, MLPA, and BCCC reflect their specialization in high-yield and alternative income strategies, positioning them as a provider focused on investors seeking yield-oriented and thematically-driven exposure.

See our curated list of related YouTube videos on QYLD.

See all Global X ETFs

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Quick verdict

QDTE (Roundhill Nasdaq-100® 0DTE Covered Call Strategy ETF) and QYLD (Global X Nasdaq 100 Covered Call ETF) are both dividend ETFs, but they take different approaches.

QDTE offers the higher yield at 19.75% vs 11.43% for QYLD. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

QYLD is cheaper with an expense ratio of 0.60% compared to 0.96%.

They have different reference exposures: QDTE is linked to Nasdaq-100 while QYLD is linked to Cboe Nasdaq-100 BuyWrite V2 Index, which means their performance drivers differ.

QYLD is the larger fund by assets ($8.51B), but assets alone do not establish trading costs or liquidity.

Who should choose each?

Choose QDTE

Roundhill Nasdaq-100® 0DTE Covered Call Strategy ETF

Want to maximize current income — QDTE distributes roughly 19.75% from selling options premium, vs 11.43% for QYLD.
Are comfortable with an options-income strategy — a large payout in exchange for capped upside.

Choose QYLD

Global X Nasdaq 100 Covered Call ETF

Are comfortable with an options-income strategy — a large payout in exchange for capped upside.
Want to keep costs low — a 0.60% expense ratio vs 0.96% for QDTE.
Prefer lower volatility — a beta of 0.5 vs 1.2 for QDTE.

Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.

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Deep dive

Yield & income

On a $10,000 investment, QDTE would generate roughly $37.98 cash per distribution, while QYLD would produce $95.25 cash per distribution, at current distribution rates.

QDTE yield19.75%

QYLD yield11.43%

Cash diff on $10K$57.27

Cost & efficiency

Over 10 years on $10,000, QDTE would cost approximately $960 in fees vs $600 for QYLD (simplified, not compounded). The $360.00 difference may be offset by yield or performance.

QDTE ER0.96%

QYLD ER0.60%

Strategy & risk

Both QDTE and QYLD wrap NASDAQ 100 with options-based income overlays (covered call and covered call). The practical differences are yield target, fee structure, and issuer track record — not the underlying mechanic. Beta is 1.1903 for QDTE and 0.49 for QYLD, making QYLD the less volatile of the two by this measure.

QDTE beta1.1903

QYLD beta0.49

Fund details

QDTE is managed by Roundhill Investments (launched 03/07/2024) with $983M in assets. QYLD is managed by Global X (launched 12/11/2013) with $8.51B in assets.

QDTE AUM$983M

QYLD AUM$8.51B

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Frequently asked questions

What is the current distribution rate for QDTE and QYLD?

QDTE currently distributes 19.75% and QYLD 11.43%, based on fund data updated September 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is QDTE or QYLD better for dividend income?

It depends on your goals. QDTE currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.

What is the difference between QDTE and QYLD?

Both QDTE (Roundhill Nasdaq-100® 0DTE Covered Call Strategy ETF) and QYLD (Global X Nasdaq 100 Covered Call ETF) track NASDAQ 100 with options-based income strategies — the labels "covered call" and "covered call" describe closely related mechanics (covered calls are a specific type of options strategy). The real differences show up in yield target (19.75% vs 11.43%), expense ratio (0.96% vs 0.60%), and issuer (Roundhill Investments vs Global X).

Can I hold both QDTE and QYLD?

You can, but expect significant overlap. Both funds use options-based income strategies on NASDAQ 100, so holding them together gives you two wrappers around effectively the same exposure — not true diversification. Weigh issuer, fee, and yield differences rather than treating them as complementary.

Is QDTE or QYLD safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — QYLD scores 83, QDTE scores 74, so QYLD's payout currently looks the more resilient of the two. QYLD has also shown lower price volatility (beta 0.49 vs 1.19 for QDTE). No score makes an investment risk-free — treat this as a screening signal, not a guarantee, and the leverage, options-income, or crypto caveats flagged on this page apply regardless of score.

Which has lower fees, QDTE or QYLD?

QDTE has an expense ratio of 0.96% while QYLD charges 0.60%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 in QDTE vs QYLD generate?

At current rates, $10,000 in QDTE would generate roughly $37.98 cash per distribution ($1,975.00 annually). The same in QYLD would produce about $95.25 cash per distribution ($1,143.00 annually).

Which has performed better historically, QDTE or QYLD?

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Dividend dates and history

QDTE vs QYLD — at a glance

Generated September 26, 2026.

Overview

QDTE and QYLD are both covered call ETFs built on Nasdaq-100 exposure, but they deploy dramatically different option strategies. The choice between them hinges on your tolerance for the income-generation mechanics and the price volatility that comes with each approach.

How they differ

The biggest difference is option frequency and expiration timing. QDTE rolls 0DTE calls every week—selling options that expire in hours or a single day—which means it captures premium from rapid decay but resets its collar position constantly.

That choice flows directly into yield. 19.75% annualized distribution rate from QDTE reflects the compounding effect of weekly rolls and tighter call strikes (closer to the current price), while 11.43% reflects monthly rolls and the historical risk-management of a published index methodology. QDTE charges 0.96% in fees versus QYLD's 0.60%, a modest difference that matters more as yield spreads widen.

The third distinction is volatility and downside capture. QYLD carries a 0.49 beta, suggesting it dampens equity swings relative to the Nasdaq-100, while QDTE's 1.1903 beta tracks the index more closely.

Who each is best for

QDTE: Fits investors who want maximum current income and are comfortable with weekly option rolls, rapid reinvestment decisions, and the possibility of repeated call assignment if the index rallies sharply above strike prices. Designed for those with a high tolerance for operational complexity and who view frequent rebalancing as an acceptable trade-off for yield extraction.

QYLD: Fits investors who prefer a simpler, lower-maintenance covered call approach with a longer track record (12 years years of published history versus 2 years for QDTE). Designed for those who want meaningful income without weekly resets and who value the downside cushion that comes from selling calls a full month out.

Key risks to know

NAV erosion at extreme yields. QDTE's 19.75% distribution rate is exceptional and may rely partly on return of capital or accelerated option-premium harvest rather than sustained underlying growth. NAV erosion is likely if Nasdaq-100 total return fails to exceed the distribution rate over extended periods.

Call assignment concentration. Because QDTE sells 0DTE calls, any sharp rally into the strike triggers assignment in real time, forcing the ETF to sell the index at the strike price and immediately repurchase it—locking in gains but potentially missing upside participation if the rally continues.

Volatility drag and beta mismatch. QYLD's 0.49 suggests it captures less than half the index's upside in bull markets, a structural trade-off for lower volatility. QDTE's 1.1903 is closer to the index but faces weekly roll friction that can compound slippage in choppy or sideways markets.

Bottom line

If you prioritize maximum current income and are comfortable resetting your position every week, QDTE's 19.75% yield stands out; if you want steadier income with a proven index methodology and lower volatility, QYLD's 11.43% yield and 12 years-year history offer an established path. Both carry the risk that sustained yields at these levels may involve some capital return alongside profit—the distribution composition of each fund merits inspection. Past performance does not guarantee future results.

AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.

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The metrics behind this comparison, explained in the Academy.

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These comparisons follow the Dividend Vision methodology.