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ETF Comparison

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

A head-to-head comparison of Global X Nasdaq 100 Covered Call ETF and Simplify Volatility Premium ETF covering yield, cost, risk, and income potential.

Updated October 2, 2026

How these figures are calculated: methodology.

Best for

  • QYLDInvestors who are comfortable trading away most upside for a large, steady payout.
  • SVOLInvestors who want to maximize current income — roughly 20.46%, generated by selling options premium.

Jump to the side-by-side numbers

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.

QYLD has outpaced SVOL over the trailing twelve months, posting a 23.22% total return against 11.46%. The lead holds up over 5 years too: QYLD has compounded at 9.30% a year, against 8.24% for SVOL. QYLD has been the steadier holding, though — annualized volatility of 13.4% against 24.9% for SVOL. 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.
SymbolYTD cumulative1Y cumulative3Y annualized5Y annualizedSince May 2021Volatility Sharpe Sortino Max drawdown
QYLD15.29%23.22%16.70%9.30%10.05%13.4%0.821.19-19.1%
SVOL9.43%11.46%8.11%8.24%9.14%24.9%0.130.19-33.5%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of October 2, 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 May 2021” measures every fund from May 13, 2021 — 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 trailing 3 years. 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 trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Distribution rate and SEC yield

MetricQYLDSVOL
Forward distribution rate11.38%20.46%
Trailing 12-month yield11.44%21.07%
30-day SEC yield0.02%—

Total return (price change plus reinvested distributions) is the Total returns section above. A 30-day SEC yield can sit far from the headline distribution rate; both numbers are the fund's own published fields.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricQYLDSVOL
Full nameGlobal X Nasdaq 100 Covered Call ETFSimplify Volatility Premium ETF
IssuerGlobal XSimplify ETFs
Underlying indexCboe Nasdaq-100 BuyWrite V2 IndexCboe Volatility Index (VIX) short-term futures index
Last Close$18.63 as of October 2, 2026$16.42 as of October 2, 2026
Distribution rate11.38%20.46%
Trailing 12-month yield11.44%21.07%
30-day SEC yield0.02%—
Distribution Safety Score™ 8385
Safety-Adjusted Yield 9.45%17.39%
Expense ratio0.60%0.66%
AUM$8.51B$512M
Distribution frequencyMonthlyMonthly
ObjectiveSeeks 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.Seeks monthly income by harvesting the volatility risk premium, primarily through futures and options on VIX futures, holding cash and high-quality fixed income securities as collateral.
Asset classEquityVolatility
Inception date12/11/201305/12/2021
Beta0.490.81
Last dividend$0.1767$0.28
Ex-dividend date09/21/202609/25/2026

Bottom lineChoose QYLD if you are comfortable trading away most upside for a large, steady payout. Choose SVOL if you want to maximize current income — roughly 20.46%, generated by selling options premium. QYLD and SVOL 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. QYLD and SVOL 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.

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
Simplify ETFs
ETFs42
Total AUM$12.3B

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

Simplify ETFs is known for offering sophisticated, strategy-driven funds that cater to investors seeking alternatives to traditional passive indexing. The issuer's lineup spans income-focused strategies including covered call and high-yield approaches, along with thematic and commodity-based funds, alternative investments, and fixed income products across bonds and money market instruments. The platform serves a niche audience interested in tactical and specialized strategies, with tickers like FOXY (covered calls on micro-cap stocks), HARD (physical commodities), and CTA (trend-following) exemplifying their focus on non-traditional investment approaches.

See our curated list of related YouTube videos on SVOL.

See all Simplify ETFs ETFs

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Quick verdict

QYLD (Global X Nasdaq 100 Covered Call ETF) and SVOL (Simplify Volatility Premium ETF) are both monthly-pay dividend ETFs, but they take different approaches.

SVOL offers the higher yield at 20.46% vs 11.38% 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 0.66%.

They have different reference exposures: QYLD is linked to Cboe Nasdaq-100 BuyWrite V2 Index while SVOL is linked to Cboe Volatility Index (VIX) short-term futures 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 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 0.66% for SVOL.
  • Prefer lower volatility — a beta of 0.5 vs 0.8 for SVOL.

Choose SVOL

Simplify Volatility Premium ETF

  • Want to maximize current income — SVOL distributes roughly 20.46% from selling options premium, vs 11.38% for QYLD.
  • Are comfortable with an options-income strategy — a large payout in exchange for capped upside.

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

Deep dive

Yield & income

On a $10,000 investment, QYLD would generate roughly $94.83 cash per distribution, while SVOL would produce $170.50 cash per distribution, at current distribution rates. Both pay monthly distributions.

QYLD yield11.38%
SVOL yield20.46%
Cash diff on $10K$75.67

Cost & efficiency

Over 10 years on $10,000, QYLD would cost approximately $600 in fees vs $660 for SVOL (simplified, not compounded). The $60.00 difference may be offset by yield or performance.

QYLD ER0.60%
SVOL ER0.66%

Strategy & risk

QYLD tracks Cboe Nasdaq-100 BuyWrite V2 Index with a covered call approach, while SVOL tracks Cboe Volatility Index (VIX) short-term futures index with a hedged approach. Beta is 0.49 for QYLD and 0.81 for SVOL, making QYLD the less volatile of the two by this measure.

QYLD beta0.49
SVOL beta0.81

Fund details

QYLD is managed by Global X (launched 12/11/2013) with $8.51B in assets. SVOL is managed by Simplify ETFs (launched 05/12/2021) with $512M in assets.

QYLD AUM$8.51B
SVOL AUM$512M
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Frequently asked questions

What is the current distribution rate for QYLD and SVOL?

QYLD currently distributes 11.38% and SVOL 20.46%, based on fund data updated October 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is QYLD or SVOL better for dividend income?

It depends on your goals. SVOL 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 QYLD and SVOL?

QYLD (Global X Nasdaq 100 Covered Call ETF) tracks Cboe Nasdaq-100 BuyWrite V2 Index with a covered call approach, while SVOL (Simplify Volatility Premium ETF) tracks Cboe Volatility Index (VIX) short-term futures index with a hedged approach. They are issued by Global X and Simplify ETFs respectively.

Can I hold both QYLD and SVOL?

Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.

Is QYLD or SVOL safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — they are effectively tied: SVOL scores 85, QYLD scores 83. Neither has a clear safety edge on that measure. QYLD has also shown lower price volatility (beta 0.49 vs 0.81 for SVOL). 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, QYLD or SVOL?

QYLD has an expense ratio of 0.60% while SVOL charges 0.66%. Lower fees mean more of your investment returns stay in your pocket over time.

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

At current rates, $10,000 in QYLD would generate roughly $94.83 cash per distribution ($1,138.00 annually). The same in SVOL would produce about $170.50 cash per distribution ($2,046.00 annually).

Which has performed better historically, QYLD or SVOL?

QYLD has outpaced SVOL over the trailing twelve months, posting a 23.22% total return against 11.46%. The lead holds up over 5 years too: QYLD has compounded at 9.30% a year, against 8.24% for SVOL. QYLD has been the steadier holding, though — annualized volatility of 13.4% against 24.9% for SVOL. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

QYLD vs SVOL — at a glance

Generated October 3, 2026.

Figures quoted in this analysis are from its generation date and may lag the live snapshot table above, which always shows the latest data.

Overview

QYLD and SVOL are both income-focused ETFs that use options strategies to generate monthly distributions, but they target fundamentally different underlying assets. That structural divergence means their price drivers, distribution sources, and risk profiles are almost entirely separate. QYLD's 11.38% rate combines equity growth expectations with option premium, which is generally more sustainable over long periods. QYLD has been operational since inception in 2013 and manages $8.51B, while SVOL is a newer strategy launched in 2021 with $512M under management.

QYLD's beta of 0.49 means it captures roughly half the market's upside and downside; the cap comes from sold calls limiting gains. Expense ratios are nearly identical (0.60% for QYLD, 0.66% for SVOL), so the cost difference is negligible.

Who each is best for

QYLD: Fits investors seeking equity exposure with systematic downside dampening, who tolerate capped upside in exchange for consistent monthly income and don't expect to exit during sharp equity rallies.

SVOL: Designed for those comfortable with non-traditional sources of return—specifically volatility harvesting—who want income uncorrelated to stock and bond prices and can stomach the concentration risk that comes with a single-strategy fund.

Key risks to know

  • NAV erosion at extreme yields. SVOL's 20.46% distribution rate is roughly two-thirds higher than QYLD's, suggesting a meaningful portion may rely on return of capital rather than sustainable income. This creates risk of NAV deterioration over time if realized volatility and fund performance diverge.
  • Volatility regime risk. SVOL's income depends on the volatility risk premium remaining positive—that is, implied volatility stays elevated relative to realized volatility. A prolonged regime shift toward realized volatility spikes could shrink the premium and slash income sharply.
  • Call cap asymmetry in QYLD. The covered-call structure means QYLD captures only 0.49 of market moves—investors sacrifice roughly half of any Nasdaq-100 rally to the call buyers. This opportunity cost compounds if large-cap tech outperforms over multi-year periods.
  • Options and derivatives complexity. Both funds rely on continuous options/futures rolling and rebalancing. Transaction slippage, bid-ask costs in rolling windows, and operational error can drag returns below the theoretical index, especially in SVOL where the underlying (VIX futures) is inherently liquid but structurally complex. 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.

Learn the method

The metrics behind this comparison, explained in the Academy.

How covered-call funds work How to read a fund's stats The covered-call opportunity cost T-bills vs. money market funds vs. CDs

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These comparisons follow the Dividend Vision methodology.