Dividend comparison
QYLD vs XYLD: Which Is Better for Income?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for Global X - Nasdaq 100 Covered Call ETF and Global X - S&P 500 Covered Call ETF, side by side. Updated October 24, 2026.
- Fees. Both charge about 0.60% a year, so cost is not what separates them.
- Income. QYLD pays more income, yielding 12.79% over the last twelve months versus 11.27% for XYLD. That is about $152 more a year on $10,000. Both pay monthly.
- Performance. Over the last 5 years, QYLD returned 32.9% versus 30.0% for XYLD, with dividends reinvested. $10,000 would have grown to $13,287 in QYLD and $13,004 in XYLD.
- Risk. QYLD has been the bumpier ride. Its worst peak-to-trough decline over the last 5 years was -24.5%, against -18.6% for XYLD.
- Diversification. XYLD holds 505 positions and QYLD holds 102. The ten largest positions make up 48.9% of QYLD and 39.9% of XYLD.
- Overlap. At least 52% of the two portfolios overlap by weight, across 37 shared holdings.
- Dividend growth. XYLD grew its yearly payout 4.8% a year over the last 4 years, versus -2.0% for QYLD.
- Size. QYLD is the larger fund with $8.4 billion in assets, against $3.4 billion for XYLD.
Bottom line: QYLD fits better if you care most about more income today and stronger 5-year returns. XYLD fits better if you care most about smaller drawdowns, faster dividend growth and broader diversification.
| Metric | QYLD Global X - Nasdaq 100 Covered Call ETF | XYLD Global X - S&P 500 Covered Call ETF |
|---|---|---|
| Dividend yield (TTM) | 12.79% | 11.27% |
| Dividend / share (TTM) | $2.31 | $4.64 |
| Payout frequency | Monthly | Monthly |
| Last dividend | $0.1830 on Oct 22, 2026 | $0.3140 on Oct 22, 2026 |
| Ex-dividend date | Oct 19, 2026 | Oct 19, 2026 |
| Dividend growth (CAGR) | -2.0% over 4 yrs | 4.8% over 4 yrs |
| Price | $18.09 | $41.15 |
| Dividend growth streak | — | 1 year |
| Beta | 0.48 | 0.41 |
| Max drawdown (5Y) | -24.5% | -18.6% |
| Market cap | $8.38B | $3.41B |
| Exchange | NASDAQ | AMEX |
| Expense ratio | 0.60% | 0.60% |
| Assets under management | $8.36B | $3.38B |
| Number of holdings | 102 | 505 |
| Top 10 concentration | 48.9% | 39.9% |
QYLD
$106.59/mo
$1279 /yr at 12.79% yield
XYLD
$93.91/mo
$1127 /yr at 11.27% yield
| Year | QYLD | XYLD |
|---|---|---|
| 2025 | $2.3793 | $5.4603 |
| 2024 | $2.1045 | $3.9372 |
| 2023 | $2.0380 | $4.2377 |
| 2022 | $2.5261 | $5.3660 |
| 2021 | $2.5810 | $4.5310 |
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 XYLD actually do
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
It tracks the Cboe S&P 500 BuyWrite Index, holding S&P 500 stocks and writing one-month calls at roughly the current index level. The mechanics match its Nasdaq sibling, but S&P 500 implied volatility is lower, so the premium collected and the resulting distribution are smaller. The same distribution guideline applies, capped at the lower of half the premiums received or 1% of net asset value.
Suits someone who wants the buy-write structure applied to a broader, less concentrated index than the Nasdaq-100. Not appropriate for an account that still needs capital growth, since full at-the-money overwriting caps the market return that funds it.
High current income, capped upside
| Period | QYLD | XYLD |
|---|---|---|
| 1 month | -2.59% | -0.82% |
| 3 months | 1.52% | 0.85% |
| Year to date | 2.26% | 1.65% |
| 1 year | 6.04% | 5.46% |
| 3 years | 41.06% | 36.62% |
| 5 years | 32.87% | 30.04% |
- QYLD
- XYLD
Both series indexed to 100 on 2021-10-22 using the adjusted closing price series. Past performance does not guarantee future results.
- QYLD
- XYLD
| Largest shared holdings | QYLD weight | XYLD weight |
|---|---|---|
| NVDANVIDIA CORP | 8.55% | 8.32% |
| AAPLAPPLE INC | 7.80% | 7.57% |
| MSFTMICROSOFT CORP | 6.30% | 6.10% |
| AMZNAMAZON.COM INC | 4.39% | 3.88% |
| GOOGLALPHABET INC-CL A | 3.25% | 3.14% |
| AVGOBROADCOM INC | 2.65% | 2.57% |
| GOOGALPHABET INC-CL C | 3.02% | 2.51% |
| METAMETA PLATFORMS INC | 3.46% | 2.49% |
| MUMICRON TECHNOLOGY INC | 4.83% | 1.70% |
| TSLATESLA INC | 3.11% | 1.62% |
QYLD102 holdings total
Quick verdict
QYLD fits better if you care most about more income today and stronger 5-year returns. XYLD fits better if you care most about smaller drawdowns, faster dividend growth and broader diversification. 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.