QYLD vs XYLD: Which ETF Is Better in 2026?
A metric-by-metric comparison of Global X NASDAQ 100 Covered Call ETF (QYLD) and Global X S&P 500 Covered Call ETF (XYLD) — both Covered Call / Income funds — using ETFValuer's daily-updated rankings.
Educational content — not financial advice. Data as of July 5, 2026. ~5 minute read.
The Verdict
On ETFValuer's overall model — which blends return, risk-adjusted performance, cost, drawdown, size and volatility — QYLD scores higher: 65.8 (Grade B) versus 64.3 for XYLD. That doesn't make XYLD a bad fund; it means QYLD currently edges it out on this specific mix of factors. Read the metric-by-metric breakdown below before deciding which matters more for your own portfolio.
Head-to-Head: Every Metric
| QYLD | XYLD | |
|---|---|---|
| Category | Covered Call / Income | Covered Call / Income |
| Expense ratio | 0.60% | 0.60% |
| Fund size (AUM) | $8.4B | $3.2B |
| Dividend yield | 5.77% | 9.41% |
| 1-year return | +22.11% | +16.57% |
| 3-year return | +47.09% | +38.45% |
| Volatility | 10.10% | 6.90% |
| Max drawdown | -19.06% | -15.53% |
| Sharpe ratio | 1.69 | 1.68 |
| ETFValuer score | 65.8 | 64.3 |
| Grade | B | C |
| Rank (of ~150) | #50 | #54 |
Bold marks the better value in each row. "Better" is directional only (e.g. lower cost, higher return) — it isn't a recommendation by itself. See the full methodology.
Cost
On cost, the two are essentially tied — QYLD charges 0.60% a year versus XYLD's 0.60%. A difference this small (about $0.00 a year on a $10,000 position) isn't a reason to choose one fund over the other.
Performance & Risk
Over the trailing 3 years, QYLD returned +47.09% versus +38.45% for XYLD — a gap of about 8.6 percentage points. On risk, XYLD has held up better historically, with a shallower max drawdown (-15.53% vs. -19.06%). QYLD currently has the better risk-adjusted return (Sharpe ratio of 1.69 vs. 1.68), meaning it delivered more return per unit of volatility taken on.
Frequently Asked Questions
Is QYLD or XYLD better?
On ETFValuer's overall model — which blends return, risk-adjusted performance, cost, drawdown, size and volatility — QYLD scores higher: 65.8 (Grade B) versus 64.3 for XYLD. That doesn't make XYLD a bad fund; it means QYLD currently edges it out on this specific mix of factors. Read the metric-by-metric breakdown below before deciding which matters more for your own portfolio.
Which has the lower expense ratio, QYLD or XYLD?
XYLD currently has the lower expense ratio (0.60% vs. 0.60%).
Can I hold both QYLD and XYLD?
Since QYLD and XYLD are both Covered Call / Income funds, they likely hold significant overlapping positions — owning both usually adds cost and complexity without meaningfully improving diversification. Pick one rather than holding both at full weight.
Go deeper on either fund
Full daily-updated metrics, holdings context, and category peers.