Nasdaq 100 Covered Call ETF - Global X ETFs - Australia
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QYLD

Nasdaq 100 Covered Call ETF

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Reasons to Consider QYLD

High Income Potential

QYLD seeks to generate income through covered call writing, which historically produces higher yields in periods of volatility.

Efficient Options Execution

QYLD writes call options on the Nasdaq 100 Index, saving investors the time and potential expense of doing so individually.

Potential Downside Mitigation

The premiums QYLD generates may partly cushion drawdowns.

Product Information As of 26 Mar 2025

Inception Date 30 Jan 2023
Management Costs (% p.a.) 0.60
Currency Hedged No
Domicile Australia
Legal Form Managed Investment Scheme
SMSF Eligible Yes

NAV Information As of 26 Mar 2025

NAV/Unit (A$) 11.51650000
Currency (NAV) AUD
Shares Outstanding 1,350,052
AUM (A$) 15,547,909.73
NAV History File View

Product Summary

The Global X Nasdaq 100 Covered Call ETF (QYLD) follows a “covered call” or “buy-write” strategy, in which the fund buys the stocks in the Nasdaq 100 Index and “writes” or “sells” corresponding call options on the same index to generate income over and above dividends.

Product Objective

QYLD seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Cboe Nasdaq 100 BuyWrite V2 Index. The Cboe Nasdaq 100 BuyWrite V2 Index is designed to represent a hypothetical buy-write strategy. The “long” Nasdaq 100 Index component and the “short” Covered Call Option component are held in equal notional amounts. 

Trading Details

Ticker QYLD
Bloomberg Code QYLD AU Equity
ISIN AU0000251886
Trading Hours 10:00AM – 4:00PM

Management & Administration

Issuer Global X Management (AUS) Limited
Custodian The Hongkong and Shanghai Banking Corporation Limited, Sydney Branch
Registrar Computershare Investor Services Pty Limited
Trustee Global X Management (AUS) Limited

Benchmark Information

Benchmark Cboe NASDAQ-100 BuyWrite V2 Index
Provider Nasdaq Inc.

Distributions As of 28 Feb 2025

12-Month Yield 12.87%
12-Month Franking Level 0.00%
Distribution Frequency Monthly
Distribution History View

Performance Table As of 26 Mar 2025

Total Return (Fund) Total Return (Benchmark) Tracking Difference Tracking Error
1 Month -5.83% -5.61% -0.22% 0.17%
3 Months -7.78% -5.90% -1.88% 1.22%
1 Year 9.24% 12.90% -3.65% 1.57%
3 Year p.a. -- -- -- --
5 Year p.a. -- -- -- --
10 Year p.a. -- -- -- --
Since Inception p.a. 17.49% 20.96% -3.46% 1.22%

Top Holdings As of 27 Mar 2025

Full Holdings (.xlsx)
Net Assets (%) Name SEDOL Market Price (Local) Shares Held Market Value (A$)
9.29 APPLE INC 2046251 221.53 4,113 1,445,078
8.10 MICROSOFT CORP 2588173 389.97 2,035 1,258,894
7.75 NVIDIA CORP 2379504 113.76 6,680 1,205,344
5.95 AMAZON.COM INC 2000019 201.13 2,902 925,603
3.88 BROADCOM INC BDZ78H9 179.27 2,123 603,504
3.74 META PLATFORMS-A B7TL820 610.98 600 581,031
2.85 NETFLIX INC 2857817 970.65 288 443,616
2.84 COSTCO WHOLESALE 2701271 929.75 299 440,898
2.76 TESLA INC B616C79 272.06 995 429,408
2.69 ALPHABET INC-A BYVY8G0 165.06 1,597 418,081
2.57 ALPHABET INC-C BYY88Y7 167.14 1,505 398,971
2.06 T-MOBILE US INC B94Q9V0 262.51 768 319,574
1.69 CISCO SYSTEMS 2198163 61.80 2,680 262,661
1.50 LINDE PLC BNZHB81 461.43 319 233,111
1.43 PALANTIR TECHN-A BN78DQ4 92.28 1,515 221,719
1.40 PEPSICO INC 2681511 148.64 924 217,790
1.25 INTUITIVE SURGIC 2871301 509.03 240 193,938
1.23 ADV MICRO DEVICE 2007849 110.19 1,092 190,766
1.20 QUALCOMM INC 2714923 158.39 745 187,146
1.18 ADOBE INC 2008154 397.81 291 183,738
1.18 INTUIT INC 2459020 614.86 188 183,631
1.15 TEXAS INSTRUMENT 2885409 184.49 613 179,426
1.13 AMGEN INC 2023607 305.71 362 175,452
1.08 BOOKING HOLDINGS BDRXDB4 4,764.16 22 167,188
0.97 COMCAST CORP-A 2044545 37.37 2,541 150,578
0.95 HONEYWELL INTL 2020459 213.12 438 147,983
0.93 GILEAD SCIENCES 2369174 109.27 839 145,375
0.88 VERTEX PHARM 2931034 500.28 173 137,250
0.85 AUTOMATIC DATA 2065308 302.41 274 131,440
0.84 PALO ALTO NETWOR B87ZMX0 184.96 446 130,830
0.84 APPLIED MATERIAL 2046552 150.68 545 130,143
0.76 STARBUCKS CORP 2842255 97.97 765 118,890
0.73 MERCADOLIBRE INC B23X1H3 2,074.97 34 113,207
0.72 ANALOG DEVICES 2032067 210.53 334 111,553
0.71 MICRON TECH 2588184 92.13 751 109,665
0.70 INTEL CORP 2463247 23.42 2,917 108,340
0.70 APPLOVIN CO-CL A BMV3LG4 327.62 208 108,235
0.67 LAM RESEARCH BSML4N7 76.14 865 104,416
0.64 KLA CORP 2480138 705.54 89 100,134
0.60 MONDELEZ INTER-A B8CKK03 66.33 884 92,963
0.60 CROWDSTRIKE HO-A BJJP138 371.41 158 92,798
0.57 CINTAS CORP 2197137 204.71 272 88,264
0.56 PDD HOLDINGS INC BYVW0F7 122.47 450 87,389
0.55 O'REILLY AUTOMOT B65LWX6 1,380.98 39 85,188
0.54 MICROSTRATEGY 2974329 329.31 160 83,634
0.53 FORTINET INC B5B2106 101.01 518 82,987
0.52 DOORDASH INC-A BN13P03 192.87 266 81,291
0.50 CADENCE DESIGN 2302232 263.41 185 77,128
0.48 SYNOPSYS INC 2867719 449.90 104 74,337
0.47 PAYPAL HOLDINGS BYW36M8 69.97 664 73,683
0.47 REGENERON PHARM 2730190 640.14 72 73,536
0.47 MARRIOTT INTL-A 2210614 246.72 186 72,670
0.47 CONSTELLATION EN BMH4FS1 216.97 211 72,512
0.44 ASML HOLDING-NY B908F01 705.76 61 68,110
0.43 ROPER TECHNOLOGI 2749602 582.71 72 66,832
0.40 AUTODESK INC 2065159 271.21 145 62,285
0.40 MARVELL TECHNOLO BNKJSM5 66.76 583 61,718
0.39 CSX CORP 2160753 29.90 1,274 60,440
0.39 MONSTER BEVERAGE BZ07BW4 57.76 655 60,049
0.38 AMERICAN ELECTRI 2026242 103.90 359 59,184
0.38 AIRBNB INC-A BMGYYH4 128.64 286 58,404
0.37 CHARTER COMMUN-A BZ6VT82 384.77 95 57,808
0.37 PAYCHEX INC 2674458 150.19 243 57,771
0.37 WORKDAY INC-A B8K6ZD1 250.79 144 57,344
0.37 COPART INC 2208073 55.07 651 56,840
0.36 PACCAR INC 2665861 99.53 353 55,803
0.36 NXP SEMICONDUCTO B505PN7 205.75 171 55,751
0.32 DIAMONDBACK ENER B7Y8YR3 163.09 192 49,706
0.32 KEURIG DR PEPPER BD3W133 34.06 914 49,370
0.30 EXELON CORP 2670519 44.02 677 47,273
0.30 FASTENAL CO 2332262 77.09 386 47,230
0.30 BAKER HUGHES CO BDHLTQ5 44.02 667 46,565
0.29 AXON ENTERPRISE BDT5S35 559.06 51 44,858
0.29 ROSS STORES INC 2746711 127.70 220 44,475
0.28 ASTRAZENECA-ADR 2989044 72.72 380 43,848
0.28 VERISK ANALYTI B4P9W92 292.03 94 43,555
0.27 COCA-COLA EUROPA BYQQ3P5 85.37 311 42,044
0.27 XCEL ENERGY INC 2614807 68.92 380 41,551
0.27 LULULEMON ATH B23FN39 337.79 77 41,242
0.26 TAKE-TWO INTERAC 2122117 215.89 119 40,702
0.26 COGNIZANT TECH-A 2257019 77.85 328 40,517
0.26 ATLASSIAN CORP-A BQ1PC76 229.65 110 40,232
0.26 ELECTRONIC ARTS 2310194 145.19 173 39,859
0.25 GE HEALTHCARE TE BL6JPG8 81.00 308 39,573
0.25 OLD DOMINION FRT 2656423 168.67 143 38,305
0.24 KRAFT HEINZ CO/T BYRY499 29.69 799 37,609
0.24 DATADOG INC-A BKT9Y49 107.97 214 36,597
0.23 IDEXX LABS 2459202 417.71 54 35,921
0.22 COSTAR GROUP INC 2262864 80.37 271 34,565
0.22 ZSCALER INC BZ00V34 211.55 102 34,142
0.19 ANSYS INC 2045623 323.34 58 29,579
0.19 DEXCOM B0796X4 72.13 257 29,380
0.19 MICROCHIP TECH 2592174 52.17 354 29,298
0.18 WARNER BROS DISC BM8JYX3 11.03 1,618 28,297
0.18 TRADE DESK INC-A BD8FDD1 58.80 296 27,647
0.15 CDW CORP/DE BBM5MD6 167.33 89 23,580
0.14 GLOBALFOUNDRIES BMW7F63 38.75 364 22,345
0.14 BIOGEN INC 2455965 142.43 97 21,841
0.13 ON SEMICONDUCTOR 2583576 45.04 281 20,066
0.10 MONGODB INC BF2FJ99 193.66 49 15,043
0.09 ARM HOLDINGS PLC BNSP5P7 114.93 80 14,505
NDX 4 C19600 655.40 -5 -521,091
Holdings are subject to change.

Sector Breakdown As of 27 Mar 2025

Sector Weight (%)
Information Technology 50.9
Communication Services 16.1
Consumer Discretionary 14.3
Consumer Staples 6.1
Health Care 5.8
Industrials 5.0
Materials 1.5
Utilities 1.4
Energy 0.6
Financials 0.5
Real Estate 0.2

Country Breakdown As of 27 Mar 2025

Country Weight (%)
United States 99.1
Netherlands 0.8
Uruguay 0.7
Britain 0.6
Ireland 0.6
Canada 0.3
Australia 0.3

Research

QYLD: Exploring the Nasdaq 100 Covered Call Strategy

Read More

Three Ways to Enhance Portfolio Income with ETFs

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How to Enhance Income Potential with Covered Call ETFs

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Documents




Announcements/Notices

FAQs

  • What is a covered call strategy?

    Covered calls are an investment strategy where investors buy a stock, or group of stocks, and sell call options on them. Selling call options can generate additional income for a fund, as buyers pay “premiums” for the right to buy assets at a fixed (“strike”) price. The logic behind selling call options against assets investors already own is that it ensures investors are “covered” from a margin call perspective – hence the term “covered call”.

  • What are the potential benefits of covered call strategies?

    The primary benefit of covered calls is that they can generate more income, and on a more diversified basis, than just owning dividend-paying stocks. This is because covered call sellers receive two income streams: first the dividends, second the premiums from the calls they sell. The premiums not only provide an income uplift, but also a second stream to draw from if dividends fall or dry up. Furthermore, options premiums tend to be inversely correlated to dividend yields—with lower dividend yielding stocks producing higher premiums – creating a natural hedge.

    Covered call income is also hedged against volatility and interest rates. All else being equal, when volatility rises, option premiums rise as options traders price higher probabilities of sharp share price movements into calls. And when interest rates rise, call option premiums mechanically rise too, as call sellers provide, in effect, a loan to buyers. The economics of which gets priced into premiums.

  • What are the potential risks of covered call strategies?

    By writing covered call options in return for the receipt of premiums, investors forego the opportunity to benefit from potential increases in the value of the Nasdaq 100 Index above the exercise prices of such options but will continue to bear the risk of declines in the value of the Nasdaq 100 Index.

    The premiums received from the options may not be sufficient to offset any losses sustained from the volatility of the underlying stocks over time. As a result, the risks associated with writing covered call options may be similar to the risks associated with writing put options. In addition, QYLD’s ability to sell the securities underlying the options will be limited while the options are in effect unless QYLD cancels out the option positions through the purchase of offsetting identical options prior to the expiration of the written options.

  • What are the advantages of writing covered calls on the Nasdaq 100 Index?

    The Nasdaq 100 is a familiar index to many Australians. The major benchmark of the US technology sector, it plays home to Microsoft, Amazon, Apple, Netflix and Tesla. Despite its strong performance the past decade, many Australians have steered clear as the Nasdaq pays a lower dividend yield than other indexes. The lower yield owes to the fact that many US tech companies choose to pay no dividends and opt to reinvest cash into creating new products and services, or conducting share buybacks. In this setting, covered call strategies provide something of a solution, and provide a way to invest in the Nasdaq 100 while also generating yield.

  • Which options does the fund sell and at what price?

    The fund invests in the Nasdaq 100 Index on a fully replicated basis. It then sells monthly exchange traded Nasdaq 100 Index call options at-the-money worth roughly 100% of the value of the portfolio, with the cash received from option sales reinvested into the Nasdaq 100 Index. “At-the-money” options are those options with strike prices identical to the price of their underlying securities. Options are rolled the day before expiry, with expiring options bought back at the volume weighted average price determined at the close.

  • What is the cut-off date to receive a distribution from QYLD?

    To receive a distribution, you must own the ETF – the trade must have fully settled – on the record date. This means that you should aim to buy QYLD at least two business days before the record date (as ETF trades take two business days to settle) should you wish to receive a distribution.

    The record date is the date on which Computershare, the share registry, records who owns which ETFs and therefore who is entitled to distributions. As QYLD has multiple distributions throughout the year, it has multiple record dates throughout the year too.

  • When do I receive my distributions from QYLD?

    Distributions are paid on the payment date, which is announced ahead of time on the ASX’s website. Generally speaking, the payment date falls two weeks after the record date. On the payment date, investors will receive the cash – or new ETFs, if they choose to reinvest their distributions. Details of payment dates and frequencies are available on the fund’s website.

  • How can I know the size of a distribution?

    We (Global X) will usually forecast how big we expect a distribution to be around one week prior to the ex-distribution date. This forecast is made public on the announcement date. While these forecasts will be as accurate as practically possible, they are only estimates and are subject to corrections and revisions.

    The size of distributions is primarily determined by markets in the fund’s underlying assets. Variables include – but are not limited to – dividends and price movements in the fund's underlying shares, the size of option premiums, prevailing interest rates and market volatility.

    Fund operations can also impact distribution sizes. Management fees, transactional and operating costs typically lower a distribution. Distributions can also be impacted by the number of units in the fund on issue on the ex-distribution date. Where the number of units on issue declines in the leadup to the ex-distribution date, the distribution yield should be expected to expand. (Income accumulated between distributions is therefore spread over fewer units). An opposite dilutive effect occurs when the number of units on issue increases in the leadup to ex-distribution dates.

Global X Management (AUS) Limited (“Global X”) (Australian Financial Services Licence Number 466778, ACN 150 433 828) is the product issuer. Offers of interests in any retail product will only be made in, or accompanied by, a Product Disclosure Statement (PDS). In respect of each retail product, Global X has prepared a target market determination (TMD). Each PDS and TMD is available at www.globalxetfs.com.au. The information on this website is general in nature only and does not take into account your personal objectives, financial situations or needs. Before acting on any information, you should consider the appropriateness of the information having regard to your objectives, financial situation or needs and consider seeking independent financial, legal, tax and other relevant advice having regard to your particular circumstances. Any investment decision should only be made after obtaining and considering the relevant PDS and TMD. Investments in any product issued by Global X are subject to investment risk, including possible delays in repayment and loss of income and principal invested. The value or return of an investment will fluctuate and an investor may lose some or all of their investment. Past performance is not a reliable indicator of future performance.

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