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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 21, 2026

Global X
ETFs120
Total AUM$93.2B

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

QYLDXYLD
Full nameGlobal X Nasdaq 100 Covered Call ETFGlobal X S&P 500 Covered Call ETF
IssuerGlobal XGlobal X
Last Close$17.66 as of July 21, 2026$40.77 as of July 21, 2026
Distribution yield12.06%12.03%
Distribution Safety Score™ 8781
Expense ratio0.61%0.60%
AUM$8.08B$3.24B
Distribution frequencyMonthlyMonthly
Underlying indexNASDAQ 100S&P 500 Index
ObjectiveCovered CallCovered Call
Asset classEquityEquity
Inception date12/11/201306/24/2013
Beta0.490.41
Last dividend$0.1775$0.4088
Ex-dividend date07/20/202607/20/2026

Bottom lineQYLD and XYLD are nearly interchangeable — both track the Nasdaq-100 with very similar cost and risk. The clearest tie-breaker is cost: XYLD is cheaper at 0.60% vs 0.61%.

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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 18.39% total return against 16.31%. The lead holds up over 10 years too: QYLD has compounded at 9.54% a year, against 8.08% for XYLD. XYLD has been the steadier holding, though — annualized volatility of 10.3% against 13.4% for QYLD. Figures are total returns: price change plus every distribution reinvested.

SymbolYTD1Y3Y5Y10YSince Dec 2013Volatility Sharpe Sortino Max drawdown
QYLD6.10%18.39%12.26%7.98%9.54%8.47%13.4%0.530.76-19.1%
XYLD5.71%16.31%11.00%7.85%8.08%7.67%10.3%0.580.84-15.5%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of July 20, 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 12.06% vs 12.03% 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 ($8.08B), which generally means tighter spreads and better liquidity.

Deep dive

Yield & income

On a $10,000 investment, QYLD would generate roughly $100.50/month, while XYLD would produce $100.25/month, at current distribution rates. Both pay monthly distributions.

QYLD yield12.06%
XYLD yield12.03%
Monthly diff on $10K$0.25

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 $8.08B in assets. XYLD is managed by Global X (launched 06/24/2013) with $3.24B in assets.

QYLD AUM$8.08B
XYLD AUM$3.24B
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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 — 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.

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 $100.50 per month ($1,206.00 annually). The same in XYLD would produce about $100.25 per month ($1,203.00 annually).

Which has performed better historically, QYLD or XYLD?

QYLD has outpaced XYLD over the trailing twelve months, posting a 18.39% total return against 16.31%. The lead holds up over 10 years too: QYLD has compounded at 9.54% a year, against 8.08% for XYLD. XYLD has been the steadier holding, though — annualized volatility of 10.3% against 13.4% for QYLD. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

QYLD vs XYLD — at a glance

Generated July 2026 from current fund data.

Overview

QYLD and XYLD are nearly identical covered-call ETFs from Global X, both selling monthly call options against their underlying equity positions to generate income. The key difference: QYLD overlays calls on the NASDAQ 100 (large-cap tech-heavy growth), while XYLD does so on the S&P 500 (broader-market large-cap). QYLD's distribution rate is 2 percentage points higher, reflecting the greater call premium available on more volatile tech stocks.

How they differ

The single biggest distinction is underlying index exposure. QYLD targets the NASDAQ 100—concentrated in mega-cap technology names—while XYLD holds the broader S&P 500 across 10 sectors. This drives QYLD's higher yield: at 12.05% versus XYLD's 9.91%, the extra 214 basis points reflects the steeper volatility premium that writers of calls on tech stocks can pocket. Both charge nearly identical fees (0.61% for QYLD, 0.60% for XYLD), but QYLD carries lower beta (0.49 vs. 0.41), a counterintuitive pattern likely explained by the capped upside from short calls on the more growth-sensitive index offsetting its underlying volatility. XYLD holds $3.16B in assets versus QYLD's $8.22B, giving QYLD a deeper pool and tighter spreads.

Who each is best for

QYLD: Fits investors seeking maximum income from a tech-concentrated equity allocation who can tolerate capped upside in exchange for monthly distributions and view the 12% yield as compensation for owning growth stocks at a structural disadvantage.

XYLD: Designed for income-focused investors who prefer broad-market exposure and less concentration risk, willing to accept a lower yield in exchange for geographic and sectoral diversification across the S&P 500.

Key risks to know

  • NAV erosion at elevated yields. Both funds distribute at rates well above historical equity market returns, suggesting that a meaningful portion of distributions includes return of capital and not just option premium plus dividends. This structural pattern will compress NAV over extended periods unless underlying equities appreciate materially.
  • Call cap limits upside participation. Short calls lock in a ceiling on share appreciation each month. If the NASDAQ 100 or S&P 500 rallies sharply, holders forgo gains above the strike price. QYLD's higher volatility on the tech side makes this cap binding more often.
  • Concentration and sector risk. QYLD's NASDAQ 100 weighting creates heavy exposure to a handful of mega-cap technology firms. A sharp drawdown in that group—say, from rates or regulatory pressure—hits QYLD harder than XYLD, which spreads risk across sectors and company sizes.
  • Dividend sustainability and reinvestment complexity. The funds' high monthly distributions invite the question of whether they can sustain payouts in a low-volatility or declining-volatility environment. Reinvesting monthly dividends at lower prices erodes yield on cost over time.

Bottom line

If you want maximum monthly income and own a high conviction in large-cap tech, QYLD's 12% yield and NASDAQ 100 focus offers meaningful premium over XYLD; if you prioritize a smoother path to income across a diversified equity base, XYLD's S&P 500 lens and 9.91% yield comes with lower concentration risk. Both funds distribute significantly above historical equity returns, so neither is a core long-term holding for capital appreciation. 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

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