QYLD vs TQQY

QYLDAGlobal X Nasdaq 100 Covered Call ETF

TQQYFGraniteShares YieldBOOST QQQ ETF

In short

QYLD Running since 2013, QYLD is the no-frills version of the Nasdaq-100 income trade: own the index, sell calls against it, pay out monthly. No stock picking, no manager discretion, just a rules-based buy-write index followed closely.

TQQY Most Nasdaq-100 income funds own the stocks and sell calls. TQQY owns none. It writes puts on a 3x leveraged QQQ fund, where fatter option premiums are the entire point, and pays monthly.

Stated mandate

QYLD QYLD seeks, before fees and expenses, to generally match the price and yield performance of the Cboe NASDAQ-100® BuyWrite V2 Index. It uses a buy-write strategy that holds NASDAQ-100 stocks and sells corresponding call options.

TQQY The fund seeks income primarily by selling put options on leveraged ETFs tracking the 3x Long QQQ Daily ETF, while also seeking capped exposure to that leveraged ETF's performance.

Why people hold it

• QYLD Simple machine: holds Nasdaq-100 stocks, sells the matching calls, and tracks the Cboe NASDAQ-100 BuyWrite V2 Index closely. Nothing to second-guess.
• Income arrives monthly, and the 0.60% fee sits under the median for Nasdaq-100 options-income funds.
• A multi-billion-dollar fund that trades very actively, so getting in and out is rarely the hard part.

• TQQY Income engine: selling near-the-money puts on ProShares UltraPro QQQ, the 3x daily QQQ fund. Leverage makes those options richer, and that premium is the product.graniteshares.comgraniteshares.com 2
• It can pair each written put with a cheaper, lower-strike put bought alongside it, trimming downside on the position in exchange for less premium collected.graniteshares.comgraniteshares.com 2
• No QQQ shares and no dividends from them: at least 80% of net assets go into derivatives on the leveraged ETF. This is an options book, not a stock portfolio.graniteshares.com
• Pays monthly, and the cash backing the options can sit in Treasuries, money market funds and short-term bond ETFs.graniteshares.com

Worth knowing

• QYLD Writing calls sells the upside. When the Nasdaq-100 runs past the strike, that gain goes to the option buyer, not the fund.
• Leaner options on the same index: QQA at 0.33%, GPIQ and JEPQ at 0.35%.
• Payouts are funded by option premium and no target rate is declared, so the monthly check varies with volatility.

• TQQY Costs 1.15% net of a waiver through December 31, 2026, against a 7.25% gross figure, and that lands above the category median.
• Cheaper routes to Nasdaq-100 income exist: JEPQ at 0.35%, GPIQ at 0.29% net of a waiver through April 30, 2027.
• Gains in the leveraged ETF are capped by design, distributions can include return of capital, and the fund stays small and thinly traded.graniteshares.comgraniteshares.com 2

Full QYLD profile⁠

Full TQQY profile⁠