BITS vs. XYLD

Last updated Jun 4, 2026

BITS (Global X Blockchain & Bitcoin Strategy ETF) and XYLD (Global X S&P 500 Covered Call ETF) are both exchange-traded funds - BITS is a Cryptocurrency fund tracking the NONE, while XYLD is a Derivative Income fund tracking the Cboe S&P 500 BuyWrite Index. Both are passively managed. Over the past 3 years, BITS returned 49.59%/yr vs 11.27%/yr for XYLD. At a 0.48 correlation, their price movements are largely independent. BITS charges 0.65%/yr vs 0.60%/yr for XYLD.

Performance

BITS vs. XYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Blockchain & Bitcoin Strategy ETF (BITS) and Global X S&P 500 Covered Call ETF (XYLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BITS achieves a 4.17% return, which is significantly lower than XYLD's 4.96% return.

BITS

• 1D: -2.94%
• 1M: -1.76%
• YTD: 4.17%
• 6M: -6.53%
• 1Y: 19.33%
• 3Y*: 49.59%
• 5Y*: —
• 10Y*: —

XYLD

• 1D: -0.15%
• 1M: 2.00%
• YTD: 4.96%
• 6M: 6.48%
• 1Y: 17.66%
• 3Y*: 11.27%
• 5Y*: 7.72%
• 10Y*: 8.25%

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

BITS vs. XYLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BITS Global X Blockchain & Bitcoin Strategy ETF	4.17%	14.90%	61.84%	212.23%	-75.46%	-29.31%
XYLD Global X S&P 500 Covered Call ETF	4.96%	8.02%	19.49%	11.10%	-12.05%	1.42%

Correlation

The correlation between BITS and XYLD is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (All Time) Calculated using the full available price history since Nov 17, 2021	0.48

The correlation between BITS and XYLD shifts across timeframes, from 0.42 (3 years) to 0.54 (1 year), reflecting how their relationship changes across market environments.

BITS vs. XYLD - Sectors Allocation Comparison

Sectors	BITS	XYLD
Financial Services	72.9%	11.8%
Technology	27.1%	35.6%
Basic Materials	-	1.8%
Communication Services	-	11.2%
Consumer Cyclical	-	10.2%
Consumer Defensive	-	4.9%
Energy	-	3.5%
Healthcare	-	8.5%
Industrials	-	8.3%
Real Estate	-	1.9%
Utilities	-	2.3%

Return for Risk

BITS vs. XYLD — Risk / Return Rank

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

BITS

BITS Risk / Return Rank: 15
BITS Sharpe Ratio Rank: 14
BITS Sortino Ratio Rank: 17
BITS Omega Ratio Rank: 16
BITS Calmar Ratio Rank: 14
BITS Martin Ratio Rank: 12

XYLD

XYLD Risk / Return Rank: 82
XYLD Sharpe Ratio Rank: 81
XYLD Sortino Ratio Rank: 84
XYLD Omega Ratio Rank: 92
XYLD Calmar Ratio Rank: 66
XYLD Martin Ratio Rank: 85

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.

BITS vs. XYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Blockchain & Bitcoin Strategy ETF (BITS) and Global X S&P 500 Covered Call ETF (XYLD). 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.

	BITS	XYLD	Difference
Sharpe ratio: Return per unit of total volatility	0.37	2.71	-2.34
Sortino ratio: Return per unit of downside risk	0.86	3.87	-3.01
Omega ratio: Gain probability vs. loss probability	1.10	1.64	-0.54
Calmar ratio: Return relative to maximum drawdown	0.40	3.35	-2.95
Martin ratio: Return relative to average drawdown	0.75	17.84	-17.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BITS vs. XYLD - Sharpe Ratio Comparison

The current BITS Sharpe Ratio is 0.37, which is lower than the XYLD Sharpe Ratio of 2.71. The chart below compares the historical Sharpe Ratios of BITS and XYLD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BITS	XYLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.37	2.71	-2.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.69	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.58	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.02	0.60	-0.59

Drawdowns

BITS vs. XYLD - Drawdown Comparison

The maximum BITS drawdown since its inception was -83.11%, which is greater than XYLD's maximum drawdown of -33.46%. Use the drawdown chart below to compare losses from any high point for BITS and XYLD.

Drawdown Indicators

	BITS	XYLD	Difference
Max Drawdown Largest peak-to-trough decline	-83.11%	-33.46%	-49.65%
Max Drawdown (1Y) Largest decline over 1 year	-48.38%	-5.29%	-43.09%
Max Drawdown (3Y) Largest decline over 3 years	-48.38%	-15.53%	-32.85%
Max Drawdown (5Y) Largest decline over 5 years	—	-18.66%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.46%	—
Current Drawdown Current decline from peak	-31.42%	-0.15%	-31.27%
Average Drawdown Average peak-to-trough decline	-42.76%	-3.72%	-39.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.68%	0.99%	+24.69%

Volatility

BITS vs. XYLD - Volatility Comparison

Global X Blockchain & Bitcoin Strategy ETF (BITS) has a higher volatility of 12.83% compared to Global X S&P 500 Covered Call ETF (XYLD) at 0.88%. This indicates that BITS's price experiences larger fluctuations and is considered to be riskier than XYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BITS	XYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.83%	0.88%	+11.95%
Volatility (6M) Calculated over the trailing 6-month period	40.38%	5.37%	+35.01%
Volatility (1Y) Calculated over the trailing 1-year period	52.55%	6.55%	+46.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.91%	11.22%	+49.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	60.91%	14.21%	+46.70%

BITS vs. XYLD - Expense Ratio Comparison

BITS has a 0.65% expense ratio, which is higher than XYLD's 0.60% expense ratio.

Dividends

BITS vs. XYLD - Dividend Comparison

BITS's dividend yield for the trailing twelve months is around 21.88%, more than XYLD's 10.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BITS Global X Blockchain & Bitcoin Strategy ETF	21.88%	22.80%	29.49%	13.69%	0.48%	1.90%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XYLD Global X S&P 500 Covered Call ETF	10.52%	10.51%	11.54%	10.51%	13.43%	9.07%	7.93%	5.76%	7.12%	5.18%	3.23%	4.65%

Frequently Asked Questions

Can I hold both BITS and XYLD in my portfolio?

BITS and XYLD have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BITS or XYLD?

BITS has higher volatility (12.83%) compared to XYLD (0.88%). In terms of maximum drawdown, BITS dropped -83.11% vs XYLD's -33.46%.

Which ETF is better, BITS or XYLD?

On 3-year performance, BITS leads with 49.59% vs 11.27% for XYLD. On fees, XYLD is cheaper at 0.60% per year. On volatility, XYLD has been the lower-risk option at 0.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BITS or XYLD?

Over the 3-year period, BITS has performed better with a 49.59% return vs 11.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BITS or XYLD?

XYLD is cheaper with a 0.60% expense ratio, compared with 0.65% for BITS.

Which ETF pays a higher dividend yield, BITS or XYLD?

BITS has the higher dividend yield at 21.88%, compared with 10.52% for XYLD.

What is the main difference between BITS and XYLD?

BITS is categorized as Cryptocurrency, while XYLD is Derivative Income. BITS tracks NONE, while XYLD tracks Cboe S&P 500 BuyWrite Index. Their fees differ too: 0.65% for BITS and 0.60% for XYLD.

Which has better risk-adjusted returns?

XYLD currently has the higher Sharpe Ratio (2.71 vs 0.37), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.