Dividend comparison

QYLD vs ISPY: Which Is Better for Income?

Fees, yield, total returns, drawdowns, holdings overlap and dividend history for Global X - Nasdaq 100 Covered Call ETF and ProShares - S&P 500 High Income ETF, side by side. Updated October 21, 2026.

Start freeOpen interactive compareSee pricing
QYLD vs ISPY: key differences
The short answer, from the latest data on this page.
  • Fees. ISPY is cheaper at 0.55% a year versus 0.60% for QYLD. On $10,000 that is $5 a year less in fees.
  • Income. QYLD pays more income, yielding 11.66% over the last twelve months versus 5.52% for ISPY. That is about $614 more a year on $10,000. Both pay monthly.
  • Performance. Over the last 1 year, QYLD returned 7.0% versus 6.6% for ISPY, with dividends reinvested. $10,000 would have grown to $10,696 in QYLD and $10,661 in ISPY.
  • Risk. QYLD has been the bumpier ride. Its worst peak-to-trough decline over the last 1 year was -24.5%, against -16.9% for ISPY.
  • Diversification. ISPY holds 514 positions and QYLD holds 102. The ten largest positions make up 48.9% of QYLD and 44.4% of ISPY.
  • Overlap. At least 42% of the two portfolios overlap by weight, across 36 shared holdings.
  • Size. QYLD is the larger fund with $8.4 billion in assets, against $1.2 billion for ISPY.

Bottom line: QYLD fits better if you care most about more income today. ISPY fits better if you care most about lower fees, smaller drawdowns and broader diversification.

Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
MetricQYLD
Global X - Nasdaq 100 Covered Call ETF
ISPY
ProShares - S&P 500 High Income ETF
Dividend yield (TTM)11.66%5.52%
Dividend / share (TTM)$2.13$2.65
Payout frequencyMonthlyMonthly
Last dividend$0.1767 on Sep 24, 2026$0.2523 on Oct 7, 2026
Ex-dividend dateOct 19, 2026Oct 1, 2026
Next payment$0.1830 on Oct 22, 2026—
Dividend growth (CAGR)-2.0% over 4 yrs—
Price$18.28$48.05
Beta0.480.86
Max drawdown (5Y)-24.5%-16.9%
Market cap$8.38B$1.15B
ExchangeNASDAQCBOE
Expense ratio0.60%0.55%
Assets under management$8.36B$1.16B
Number of holdings102514
Top 10 concentration48.9%44.4%
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.

QYLD

$97.14/mo

$1166 /yr at 11.66% yield

ISPY

$46.00/mo

$552 /yr at 5.52% yield

Dividend history
Total dividends paid per share in each calendar year. QYLD pays monthly; ISPY pays monthly.
YearQYLDISPY
2025$2.3793$3.9051
2024$2.1045—
2023$2.0380—
2022$2.5261—
2021$2.5810—
Strategy: Options income
These funds own equities and sell call options against them, converting a share of future price appreciation into cash paid out now. How much upside is surrendered depends on the design: writing at the money on the whole portfolio pays the most and keeps the least, while writing on a partial slice or using purchased offsets keeps more of a rally. Distributions come mainly from option premium rather than from company dividends, so the headline yield is not comparable to a dividend fund's.

Payouts are variable rather than contractual, are often taxed as ordinary income, and a fund that pays out more than the strategy earns will see its net asset value drift down over time.

What QYLD vs ISPY actually do

QYLD
A Global X ETF that owns the Nasdaq-100 and sells at-the-money monthly calls against the entire portfolio.

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

Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Dec 20, 2023 would now be worth $13,501 in QYLD and $14,654 in ISPY.
PeriodQYLDISPY
1 month-0.49%-0.08%
3 months2.64%1.14%
Year to date3.45%5.30%
1 year6.96%6.61%
3 years42.70%—
5 years34.31%—
  • QYLD
  • ISPY
961251532023202420252026135147

Both series indexed to 100 on 2023-12-20 using the adjusted closing price series. Past performance does not guarantee future results.

Sector allocation
Weight of each sector within the fund. Sectors are aligned on the same row so the two funds can be read against each other directly.
  • QYLD
  • ISPY
0%15%30%45%60%Technology60.3%33.5%Financial Services0.2%22.5%Communication Services12.6%8.3%Consumer Cyclical10.1%7.4%Healthcare3.8%8.0%Industrials5.1%6.2%Consumer Defensive5.6%3.9%Energy0.4%3.2%Utilities1.0%1.7%Cash & Others2.5%Other1.0%2.9%
QYLD vs ISPY holdings overlap
At least 42% overlap by weight, with 36 holdings in common. Overlap adds up the smaller of the two weights for every stock both funds own, so 100% would mean identical portfolios.
Largest shared holdingsQYLD weightISPY weight
NVDANVIDIA CORP8.55%6.70%
AAPLAPPLE INC7.80%6.38%
MSFTMICROSOFT CORP6.30%5.05%
AMZNAMAZON.COM INC4.39%3.28%
GOOGLALPHABET INC-CL A3.25%2.58%
GOOGALPHABET INC-CL C3.02%2.06%
AVGOBROADCOM INC2.65%2.03%
METAMETA PLATFORMS INC3.46%1.98%
TSLATESLA INC3.11%1.32%
MUMICRON TECHNOLOGY INC4.83%1.30%
Top 10 holdings
Largest positions by portfolio weight.

QYLD102 holdings total

NameWeight
NVDANVIDIA CORP8.55%
AAPLAPPLE INC7.80%
MSFTMICROSOFT CORP6.30%
MUMICRON TECHNOLOGY INC4.83%
AMZNAMAZON.COM INC4.39%
AMDADVANCED MICRO DEVICES4.20%
METAMETA PLATFORMS INC3.46%
GOOGLALPHABET INC-CL A3.25%
TSLATESLA INC3.11%
SPCXSPACE EXPLORATION TECHN-CL A3.03%

ISPY514 holdings total

NameWeight
IQMMPROSHARES GENIUS MNY MKT ETF12.97%
NVDANVIDIA CORP6.70%
AAPLAPPLE INC6.38%
MSFTMICROSOFT CORP5.05%
AMZNAMAZON.COM INC3.28%
GOOGLALPHABET INC-CL A2.58%
GOOGALPHABET INC-CL C2.06%
AVGOBROADCOM INC2.03%
METAMETA PLATFORMS INC-CLASS A1.98%
TSLATESLA INC1.32%

Quick verdict

QYLD fits better if you care most about more income today. ISPY fits better if you care most about lower fees, smaller drawdowns and broader diversification. Model the holding inside your real portfolio before deciding.

Still deciding? Compare them in your portfolio
Forecast dividend income, track payouts, and see how QYLD vs ISPY fits with the rest of your holdings. Free to start — no credit card required for the trial.
Start freeInteractive DRIP compare

Frequently asked questions

Is QYLD or ISPY better for dividend income?
It depends on your goals. QYLD currently yields 11.66% Trailing Twelve Months (TTM) while ISPY yields 5.52%. Higher yield means more current income per dollar invested, but may come with different risk, growth, or NAV characteristics. Compare total return and payout sustainability — not just the headline yield.
What is the difference between QYLD and ISPY?
Global X - Nasdaq 100 Covered Call ETF (QYLD) is an ETF listed on NASDAQ. ProShares - S&P 500 High Income ETF (ISPY) is an ETF listed on CBOE. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, QYLD or ISPY?
ISPY has the lower expense ratio. QYLD charges 0.60% a year and ISPY charges 0.55%, a difference of $5 a year on a $10,000 investment.
Which has performed better, QYLD or ISPY?
Over the last 1 year, QYLD has the higher total return with dividends reinvested: QYLD returned 7.0% and ISPY returned 6.6%. Past performance does not predict future returns.
Which is riskier, QYLD or ISPY?
Measured by the worst peak-to-trough decline over the last five years, QYLD has been riskier: QYLD fell as much as 24.5% and ISPY as much as 16.9%. Their betas are 0.48 and 0.86.
How much do QYLD and ISPY overlap?
At least 42% of the two portfolios overlap by weight, across 36 shared holdings. The largest shared positions are NVDA, AAPL, MSFT. Holding both still adds meaningful diversification.
How often do QYLD and ISPY pay dividends?
Both pay monthly. The most recent payments were $0.1767 for QYLD and $0.2523 for ISPY.
How much income does $10,000 in QYLD vs ISPY generate?
At current TTM yields, $10,000 in QYLD would generate roughly $97.14 per month ($1166 annually). The same amount in ISPY would produce about $46.00 per month ($552 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both QYLD and ISPY?
Yes. Many income investors hold both to diversify strategy or index exposure. Whether the combination actually diversifies depends on overlapping holdings and factor exposure. Model both inside Dividend Wealth to see combined income, sector mix, and forecast impact.
Where can I compare QYLD vs ISPY with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how QYLD and ISPY fit alongside the rest of your portfolio. A 14-day free trial of Standard is available with no credit card required; a limited Free plan is also available.

Related comparisons

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.