QYLD: Global X NASDAQ 100 Covered Call ETF returns, drawdowns and risk
Funds that sell options on stocks or indices to pay a high monthly income, giving up part of the upside.
Data updated October 2026
QYLD · US exchange · USDCategory: Covered call and equity income ETFsData from December 2013
From December 2013 to October 2026 QYLD returned 8.9% a year on average with dividends reinvested, in US dollars: $10,000 invested at the start grew to $30,040.
Its deepest fall was 24.8%, from February 2020 to March 2020, and it took about 9 months to get back to the previous high. Annual volatility was 14.8%; at the last close it was 1.2% below its high.
Against SPY (SPDR S&P 500 ETF Trust), over the 154 months both have data, the correlation of monthly returns was 0.85: they usually moved together. Beta was 0.64. In months when SPY rose, QYLD moved 63% as much on average; in months when SPY fell, 60% as much.
Key figures
- Annual return (CAGR)
- +8.9%
- 1-year return
- +20.5%
- 5 years, a year
- +8.5%
- 10 years, a year
- +9.9%
- Annual volatility
- 14.8%
- Maximum drawdown
- −24.8%
- Sharpe ratio
- 0.53
- Worst year
- 2022: −19.1%
Trailing returns
| Period | QYLD | SPY |
|---|---|---|
| 1 year | +20.5% | +16.6% |
| 3 years, a year | +16.3% | +23.1% |
| 5 years, a year | +8.5% | +12.7% |
| 10 years, a year | +9.9% | +15.4% |
To the last close of October 2026. Periods longer than a year are annualised.
Growth of $10,000: QYLD vs SPY
Month-end values from January 2014, the first month both funds have data.
QYLD drawdowns
Percentage below the previous high, weekly.
Returns by calendar year
| Year | QYLD | SPY |
|---|---|---|
| 2026(partial) | +14.4% | +13.3% |
| 2025 | +9.3% | +17.7% |
| 2024 | +19.4% | +24.9% |
| 2023 | +22.8% | +26.2% |
| 2022 | −19.1% | −18.2% |
| 2021 | +10.4% | +28.7% |
| 2020 | +8.7% | +18.3% |
| 2019 | +22.7% | +31.2% |
| 2018 | −3.1% | −4.6% |
| 2017 | +18.8% | +21.7% |
| 2016 | +4.8% | +12.0% |
| 2015 | +7.2% | +1.2% |
| 2014 | +4.3% | +13.5% |
| 2013(partial) | +2.0% | — |
QYLD compared
How the figures are calculated
Total return in the fund’s trading currency, from end-of-day prices with dividends reinvested on the ex-date. The fund’s own ongoing charges are already reflected in its price; trading costs, taxes and currency conversion are not included. Past returns do not predict future returns.
Sharpe ratio uses the return of short-term government bills in the same currency as the risk-free rate. The growth chart uses month-end values; drawdowns and volatility use daily closes.
Questions
What is the average annual return of QYLD?
From December 2013 to October 2026 QYLD returned 8.9% a year on average (CAGR) with dividends reinvested, in USD. Over the last 5 years: +8.5% a year. Over the last 12 months: +20.5%.
What was the worst drawdown of QYLD?
24.8%, from February 2020 to March 2020; it took about 9 months from the previous high to get back to it.
How volatile is QYLD?
Annual volatility was 14.8% over the period. Its worst month was −9.0% and 71% of months were positive. Worst calendar year: 2022 (−19.1%).
How closely does QYLD follow SPY?
Over 154 months the correlation of monthly returns was 0.85, so they usually moved together, with a beta of 0.64.
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Other Covered call and equity income ETFs
Source: MarketStack end-of-day prices, total return with dividends reinvested. Figures are historical and descriptive; they are not forecasts and not investment advice. MEDGE Capital does not recommend buying or selling any instrument. Risk disclaimer.