Dividend comparison
QQQ vs QYLD: Which Is Better?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for Invesco QQQ Trust, Series 1 and Global X - Nasdaq 100 Covered Call ETF, side by side. Updated October 21, 2026.
- Fees. QQQ is cheaper at 0.18% a year versus 0.60% for QYLD. On $10,000 that is $42 a year less in fees.
- Income. QYLD pays more income, yielding 11.66% over the last twelve months versus 0.53% for QQQ. That is about $1,113 more a year on $10,000. QQQ pays annual, QYLD pays monthly.
- Performance. Over the last 5 years, QQQ returned 97.0% versus 34.3% for QYLD, with dividends reinvested. $10,000 would have grown to $19,698 in QQQ and $13,431 in QYLD.
- Risk. QQQ has been the bumpier ride. Its worst peak-to-trough decline over the last 5 years was -35.1%, against -24.5% for QYLD.
- Diversification. QQQ holds 102 positions and QYLD holds 102. The ten largest positions make up 47.2% of QQQ and 48.9% of QYLD.
- Overlap. 99% of the two portfolios overlap by weight, across 96 shared holdings. Owning both adds little diversification.
- Dividend growth. QQQ grew its yearly payout 13.3% a year over the last 4 years, versus -2.0% for QYLD.
- Size. QQQ is the larger fund with $487.5 billion in assets, against $8.4 billion for QYLD.
Bottom line: QQQ fits better if you care most about lower fees, stronger 5-year returns and faster dividend growth. QYLD fits better if you care most about more income today and smaller drawdowns. With 99% overlap, most investors would hold one or the other rather than both.
| Metric | QQQ Invesco QQQ Trust, Series 1 | QYLD Global X - Nasdaq 100 Covered Call ETF |
|---|---|---|
| Dividend yield (TTM) | 0.53% | 11.66% |
| Dividend / share (TTM) | $3.79 | $2.13 |
| Payout frequency | Annual | Monthly |
| Last dividend | $0.7514 on Oct 8, 2026 | $0.1767 on Sep 24, 2026 |
| Ex-dividend date | Dec 21, 2026 | Oct 19, 2026 |
| Next payment | $0.7941 on Dec 28, 2026 | $0.1830 on Oct 22, 2026 |
| Dividend growth (CAGR) | 13.3% over 4 yrs | -2.0% over 4 yrs |
| Price | $717.63 | $18.28 |
| Beta | 1.23 | 0.48 |
| Max drawdown (5Y) | -35.1% | -24.5% |
| Market cap | $479.05B | $8.38B |
| Exchange | NASDAQ | NASDAQ |
| Expense ratio | 0.18% | 0.60% |
| Assets under management | $487.46B | $8.36B |
| Number of holdings | 102 | 102 |
| Top 10 concentration | 47.2% | 48.9% |
QQQ
$4.40/mo
$53 /yr at 0.53% yield
QYLD
$97.14/mo
$1166 /yr at 11.66% yield
| Year | QQQ | QYLD |
|---|---|---|
| 2025 | $2.7949 | $2.3793 |
| 2024 | $3.0623 | $2.1045 |
| 2023 | $2.3200 | $2.0380 |
| 2022 | $2.1351 | $2.5261 |
| 2021 | $1.6968 | $2.5810 |
Current income is low and outside your control, so these need pairing with something else if the portfolio has to produce cash today.
What QQQ vs QYLD actually do
The index is modified market-cap weighted and excludes financials by rule, which is why it lands so heavily in technology, communication services and consumer discretionary names. In December 2025 the fund converted from a unit investment trust to a conventional open-end fund and cut its fee, so it can now reinvest income and lend securities like its peers. It remains the most liquid Nasdaq-100 vehicle by a wide margin and the reference asset for a large share of the options-income products in this category.
Suits investors who want concentrated large-cap growth exposure and anyone who needs deep options liquidity. Dividends are incidental, so it does not answer an income mandate on its own.
Growth-tilted core, concentrated
It follows the Cboe Nasdaq-100 BuyWrite V2 Index: hold the constituents, then write a one-month index call struck at roughly the current level. Writing at the money collects the maximum premium but leaves almost no room to participate when the index rises, so in an up year the fund keeps the premium and forfeits the move. Global X's stated guideline caps the monthly distribution at the lower of half the premiums received or 1% of net asset value, with the excess reinvested.
Suits an investor whose priority is the largest, steadiest monthly payment available from Nasdaq exposure and who does not need the principal to grow. It is a poor long-horizon holding: surrendering nearly all upside on a high-growth index while paying out the premium has historically left the share price grinding lower over full cycles.
Maximum current income, capped upside
| Period | QQQ | QYLD |
|---|---|---|
| 1 month | -0.43% | -0.49% |
| 3 months | 3.10% | 2.64% |
| Year to date | 17.09% | 3.45% |
| 1 year | 17.78% | 6.96% |
| 3 years | 105.61% | 42.70% |
| 5 years | 96.98% | 34.31% |
- QQQ
- QYLD
Both series indexed to 100 on 2021-10-20 using the adjusted closing price series. Past performance does not guarantee future results.
- QQQ
- QYLD
| Largest shared holdings | QQQ weight | QYLD weight |
|---|---|---|
| NVDANVIDIA Corp | 8.17% | 8.55% |
| AAPLApple Inc | 7.82% | 7.80% |
| MSFTMicrosoft Corp | 6.19% | 6.30% |
| MUMicron Technology Inc | 4.41% | 4.83% |
| AMZNAmazon.com Inc | 4.42% | 4.39% |
| AMDAdvanced Micro Devices Inc | 3.79% | 4.20% |
| METAMeta Platforms Inc | 3.28% | 3.46% |
| GOOGLAlphabet Inc | 3.15% | 3.25% |
| TSLATesla Inc | 3.02% | 3.11% |
| GOOGAlphabet Inc | 2.94% | 3.02% |
QQQ102 holdings total
Quick verdict
QQQ fits better if you care most about lower fees, stronger 5-year returns and faster dividend growth. QYLD fits better if you care most about more income today and smaller drawdowns. With 99% overlap, most investors would hold one or the other rather than both. Model the holding inside your real portfolio before deciding.
Frequently asked questions
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For informational and educational purposes only. Not investment advice. Past performance and current yields do not guarantee future results. Verify figures independently before making investment decisions.