ETF Comparison

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

A head-to-head comparison of Global X Nasdaq 100 Covered Call ETF and Global X S&P 500 Covered Call ETF covering yield, cost, risk, and income potential.

Data updated July 4, 2026

Global X

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Total AUM$98.3B

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.

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Side-by-side snapshot

	QYLD	XYLD
Full name	Global X Nasdaq 100 Covered Call ETF	Global X S&P 500 Covered Call ETF
Issuer	Global X	Global X
Last Close	$18.09 as of July 4, 2026	$40.84 as of July 4, 2026
Distribution yield	12.30%	10.00%
Distribution Safety Score	83	81
Expense ratio	0.61%	0.60%
AUM	$8.22B	$3.16B
Distribution frequency	Monthly	Monthly
Underlying index	NASDAQ 100	S&P 500 Index
Objective	Covered Call	Covered Call
Asset class	Equity	Equity
Inception date	12/11/2013	06/24/2013
Beta	0.49	0.41
Last dividend	$0.1854	$0.3403
Ex-dividend date	06/22/2026	06/22/2026

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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

QYLD has outpaced XYLD over the trailing twelve months, posting a 20.88% total return against 15.60%. The lead holds up over 10 years too: QYLD has compounded at 9.76% a year, against 8.24% for XYLD. XYLD has been the steadier holding, though — annualized volatility of 10.3% against 13.2% for QYLD. Figures are total returns: price change plus every distribution reinvested.

Symbol	YTD	1Y	3Y	5Y	10Y	Since Dec 2013	Volatility	Sharpe	Sortino	Max drawdown
QYLD	7.58%	20.88%	13.28%	8.10%	9.76%	8.63%	13.2%	0.61	0.87	-19.1%
XYLD	5.01%	15.60%	11.04%	7.44%	8.24%	7.64%	10.3%	0.59	0.84	-15.5%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of July 2, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Dec 2013” measures every fund from December 12, 2013 — the youngest fund's first trading day — 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.

Quick verdict

QYLD (Global X Nasdaq 100 Covered Call ETF) and XYLD (Global X S&P 500 Covered Call ETF) are both monthly-pay dividend ETFs, but they take different approaches.

QYLD offers the higher yield at 12.30% vs 10.00% for XYLD. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

XYLD is cheaper with an expense ratio of 0.60% compared to 0.61%.

They track different benchmarks: QYLD is linked to NASDAQ 100 while XYLD tracks S&P 500 Index, which means their performance drivers differ.

QYLD is the larger fund by assets ($8.22B), which generally means tighter spreads and better liquidity.

Deep dive

Yield & income

On a $10,000 investment, QYLD would generate roughly $102.50/month, while XYLD would produce $83.33/month, at current distribution rates. Both pay monthly distributions.

QYLD yield12.30%

XYLD yield10.00%

Monthly diff on $10K$19.17

Cost & efficiency

Over 10 years on $10,000, QYLD would cost approximately $610 in fees vs $600 for XYLD (simplified, not compounded). The $10.00 difference may be offset by yield or performance.

QYLD ER0.61%

XYLD ER0.60%

Strategy & risk

QYLD tracks NASDAQ 100 with a covered call approach, while XYLD tracks S&P 500 Index with a covered call approach. Beta is 0.49 for QYLD and 0.41 for XYLD, indicating XYLD is less volatile relative to the market.

QYLD beta0.49

XYLD beta0.41

Fund details

QYLD is managed by Global X (launched 12/11/2013) with $8.22B in assets. XYLD is managed by Global X (launched 06/24/2013) with $3.16B in assets.

QYLD AUM$8.22B

XYLD AUM$3.16B

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Frequently asked questions

Is QYLD or XYLD better for dividend income?

It depends on your goals. QYLD 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 XYLD?

QYLD (Global X Nasdaq 100 Covered Call ETF) tracks NASDAQ 100 with a covered call approach, while XYLD (Global X S&P 500 Covered Call ETF) tracks S&P 500 Index with a covered call approach. They are issued by Global X and Global X respectively.

Can I hold both QYLD and XYLD?

Yes. Many income investors hold both to diversify across different strategies and underlying indexes. This can reduce concentration risk while maintaining a strong income stream.

Which has lower fees, QYLD or XYLD?

QYLD has an expense ratio of 0.61% while XYLD charges 0.60%. Lower fees mean more of your investment returns stay in your pocket over time.

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

At current rates, $10,000 in QYLD would generate roughly $102.50 per month ($1,230.00 annually). The same in XYLD would produce about $83.33 per month ($1,000.00 annually).

Which has performed better historically, QYLD or XYLD?

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QYLD vs XYLD — at a glance

Generated June 2026 from current fund data.

Overview

QYLD and XYLD are both monthly-pay covered call ETFs from Global X that systematically sell call options against their underlying holdings to generate income. QYLD writes calls on the Nasdaq 100, capturing tech-heavy growth exposure but capping upside; XYLD does the same on the broader S&P 500. The key distinction is the underlying index: QYLD leans growth and concentration, while XYLD offers wider diversification across sectors and market-cap ranges.

How they differ

The core difference is index composition. QYLD tracks 100 large-cap tech and growth stocks, while XYLD tracks 500 stocks spanning all sectors and sizes. This shows up in beta: QYLD's 0.49 is lower than XYLD's 0.41 may suggest at first, but reflects QYLD's concentration in mega-cap growth names where call-writing dampens swings more forcefully. Yields diverge accordingly—QYLD distributes 12.35% versus XYLD's 10.15%—because the Nasdaq 100's higher volatility allows Global X to collect richer call premiums. XYLD has been running longer (June 2013 inception versus December 2013) and holds 3.6 times more assets ($3.16B versus $8.22B). Expense ratios are nearly identical at 0.60–0.61%, so fees are a wash.

Who each is best for

QYLD: Fits investors seeking outsized monthly income from a concentrated growth-stock portfolio and who are comfortable capping appreciation to lock in premium collection. The higher yield appeals to those needing steady cash flow from tech-tilted exposure.

XYLD: Fits investors preferring broader market diversification while still collecting covered-call premiums, and who accept a lower yield in exchange for less upside truncation across sectors and market capitalizations.

Key risks to know

NAV erosion at sustained high yields. Both funds distribute 10%+ annualized, well above long-term equity market returns. If underlying holdings don't appreciate enough to offset distributions, NAV per share will erode over time. QYLD's 12.35% yield is more exposed to this risk than XYLD's 10.15%.

Call-writing caps principal appreciation. The covered call overlay means both funds will underperform their underlying indexes in strong bull markets. If the Nasdaq 100 or S&P 500 rally sharply, the sold calls will be exercised or early assignment will occur, locking in gains below market levels. This is structural, not temporary.

Nasdaq 100 concentration versus broad market diversification. QYLD's 100-stock index has higher sector concentration (especially technology and mega-cap growth) than XYLD's 500-stock index. A sharp tech sector correction will hit QYLD harder, even after accounting for call-writing dampening effects.

Options volatility premium dependency. Both funds rely on selling call options, which generate premium proportional to implied volatility. In a low-volatility, range-bound market, call premiums shrink, depressing distributions below historical yields.

Bottom line

If you want higher monthly income and accept being concentrated in large-cap growth stocks with capped upside, QYLD offers a 12.35% yield to fund that trade-off. If you prefer broader diversification across the S&P 500 while still collecting call premiums at a respectable 10.15% yield, XYLD's wider index holds appeal. Both face NAV headwinds if underlying markets don't deliver returns matching distribution rates. Past performance does not predict future results.

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