ASCE vs. RYLD

Last updated Jun 24, 2026

ASCE (Allspring SMID Core ETF) and RYLD (Global X Russell 2000 Covered Call ETF) are both exchange-traded funds - ASCE is a Small Cap Blend Equities fund actively managed by Allspring, while RYLD is a Derivative Income fund tracking the CBOE Russell 2000 BuyWrite Index. ASCE is actively managed, while RYLD is passively managed. Their correlation of 0.80 suggests significant overlap in exposure. ASCE charges 0.38%/yr vs 0.60%/yr for RYLD.

Performance

ASCE vs. RYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Allspring SMID Core ETF (ASCE) and Global X Russell 2000 Covered Call ETF (RYLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ASCE achieves a 28.36% return, which is significantly higher than RYLD's 9.51% return.

ASCE

• 1D: -2.21%
• 1M: 6.39%
• YTD: 28.36%
• 6M: 23.53%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

RYLD

• 1D: -0.50%
• 1M: 2.12%
• YTD: 9.51%
• 6M: 8.37%
• 1Y: 20.74%
• 3Y*: 8.72%
• 5Y*: 2.45%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ASCE vs. RYLD - Yearly Performance Comparison

	2026 (YTD)	2025
ASCE Allspring SMID Core ETF	28.36%	8.46%
RYLD Global X Russell 2000 Covered Call ETF	9.51%	8.63%

Correlation

The correlation between ASCE and RYLD is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 8, 2025	0.80

Return for Risk

ASCE vs. RYLD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ASCE

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

RYLD

RYLD Risk / Return Rank: 68
RYLD Sharpe Ratio Rank: 62
RYLD Sortino Ratio Rank: 62
RYLD Omega Ratio Rank: 73
RYLD Calmar Ratio Rank: 69
RYLD Martin Ratio Rank: 74

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ASCE vs. RYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allspring SMID Core ETF (ASCE) and Global X Russell 2000 Covered Call ETF (RYLD). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	ASCE	RYLD	Difference
Sharpe ratio: Return per unit of total volatility	—	1.96	—
Sortino ratio: Return per unit of downside risk	—	2.76	—
Omega ratio: Gain probability vs. loss probability	—	1.41	—
Calmar ratio: Return relative to maximum drawdown	—	3.31	—
Martin ratio: Return relative to average drawdown	—	13.37	—

Drawdowns

ASCE vs. RYLD - Drawdown Comparison

The maximum ASCE drawdown since its inception was -9.22%, smaller than the maximum RYLD drawdown of -41.53%. Use the drawdown chart below to compare losses from any high point for ASCE and RYLD.

Drawdown Indicators

	ASCE	RYLD	Difference
Max Drawdown Largest peak-to-trough decline	-9.22%	-41.53%	+32.31%
Max Drawdown (1Y) Largest decline over 1 year	—	-6.29%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-19.05%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-21.33%	—
Current Drawdown Current decline from peak	-2.21%	-0.50%	-1.71%
Average Drawdown Average peak-to-trough decline	-2.02%	-8.78%	+6.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.55%	—

Volatility

Volatility by Period

	ASCE	RYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.00%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.80%	—
Volatility (1Y) Calculated over the trailing 1-year period	19.77%	10.66%	+9.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.77%	14.05%	+5.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.77%	17.15%	+2.62%

ASCE vs. RYLD - Expense Ratio Comparison

ASCE has a 0.38% expense ratio, which is lower than RYLD's 0.60% expense ratio.

Dividends

ASCE vs. RYLD - Dividend Comparison

ASCE's dividend yield for the trailing twelve months is around 0.17%, less than RYLD's 11.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
ASCE Allspring SMID Core ETF	0.17%	0.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
RYLD Global X Russell 2000 Covered Call ETF	11.73%	12.00%	12.03%	12.64%	13.49%	12.35%	10.76%	6.43%

Frequently Asked Questions

Can I hold both ASCE and RYLD in my portfolio?

ASCE and RYLD have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ASCE or RYLD?

On fees, ASCE is cheaper at 0.38% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ASCE or RYLD?

ASCE is cheaper with a 0.38% expense ratio, compared with 0.60% for RYLD.

Which ETF pays a higher dividend yield, ASCE or RYLD?

RYLD has the higher dividend yield at 11.73%, compared with 0.17% for ASCE.

What is the main difference between ASCE and RYLD?

ASCE is categorized as Small Cap Blend Equities, while RYLD is Derivative Income. They also come from different issuers: Allspring and Global X. Their fees differ too: 0.38% for ASCE and 0.60% for RYLD.