DHSB vs. RYLD

Last updated Aug 4, 2026

DHSB (Day Hagan Smart Buffer ETF) and RYLD (Global X Russell 2000 Covered Call ETF) are both Derivative Income funds. DHSB is actively managed, while RYLD is passively managed. Over the past year, DHSB returned 9.26% vs 26.26% for RYLD. Their 0.67 correlation means they have sometimes moved together and sometimes differently. DHSB charges 0.68%/yr vs 0.60%/yr for RYLD.

Performance

DHSB vs. RYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Day Hagan Smart Buffer ETF (DHSB) 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, DHSB achieves a 5.52% return, which is significantly lower than RYLD's 13.48% return.

DHSB

• 1D: 0.62%
• 1M: 1.14%
• 6M: 4.85%
• YTD: 5.52%
• 1Y: 9.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.06%

RYLD

• 1D: 1.06%
• 1M: 2.27%
• 6M: 10.40%
• YTD: 13.48%
• 1Y: 26.26%
• 3Y*: 8.70%
• 5Y*: 3.43%
• 10Y*: —
• ALL TIME*: 5.95%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DHSB Day Hagan Smart Buffer ETF	$65.64K	$43.33K	$221.24K
RYLD Global X Russell 2000 Covered Call ETF	$9.87M	$9.43M	$9.08M

DHSB vs. RYLD - Yearly Performance Comparison

	2026 (YTD)	2025
DHSB Day Hagan Smart Buffer ETF	5.52%	4.73%
RYLD Global X Russell 2000 Covered Call ETF	13.48%	1.96%

Correlation

The correlation between DHSB and RYLD is 0.63, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.63
Correlation (All Time) Calculated using the full available price history since Feb 14, 2025	0.67

The correlation between DHSB and RYLD has been stable across timeframes, ranging from 0.63 to 0.67 - a consistent structural relationship.

Return for Risk

DHSB vs. RYLD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DHSB

DHSB Risk / Return Rank: 68
DHSB Sharpe Ratio Rank: 54
DHSB Sortino Ratio Rank: 60
DHSB Omega Ratio Rank: 68
DHSB Calmar Ratio Rank: 73
DHSB Martin Ratio Rank: 86

RYLD

RYLD Risk / Return Rank: 93
RYLD Sharpe Ratio Rank: 93
RYLD Sortino Ratio Rank: 93
RYLD Omega Ratio Rank: 94
RYLD Calmar Ratio Rank: 92
RYLD Martin Ratio Rank: 93

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DHSB vs. RYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Day Hagan Smart Buffer ETF (DHSB) 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.

	DHSB	RYLD	Difference
Sharpe ratio: Return per unit of total volatility	1.43	2.50	-1.06
Sortino ratio: Return per unit of downside risk	2.21	3.52	-1.31
Omega ratio: Gain probability vs. loss probability	1.31	1.52	-0.21
Calmar ratio: Return relative to maximum drawdown	2.80	4.19	-1.39
Martin ratio: Return relative to average drawdown	13.56	17.17	-3.61

DHSB vs. RYLD - Sharpe Ratio Comparison

The current DHSB Sharpe Ratio is 1.43, which is lower than the RYLD Sharpe Ratio of 2.50. The chart below compares the historical Sharpe Ratios of DHSB and RYLD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DHSB vs. RYLD - Drawdown Comparison

The maximum DHSB drawdown since its inception was -7.65%, smaller than the maximum RYLD drawdown of -41.53%. Use the drawdown chart below to compare losses from any high point for DHSB and RYLD.

Drawdown Indicators

	DHSB	RYLD	Difference
Max Drawdown Largest peak-to-trough decline	-7.65%	-41.53%	+33.88%
Max Drawdown (1Y) Largest decline over 1 year	-3.32%	-6.29%	+2.97%
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	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.84%	-8.65%	+7.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.68%	1.53%	-0.85%

Volatility

DHSB vs. RYLD - Volatility Comparison

The current volatility for Day Hagan Smart Buffer ETF (DHSB) is 2.11%, while Global X Russell 2000 Covered Call ETF (RYLD) has a volatility of 2.30%. This indicates that DHSB experiences smaller price fluctuations and is considered to be less risky than RYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DHSB	RYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.11%	2.30%	-0.19%
Volatility (6M) Calculated over the trailing 6-month period	5.84%	7.74%	-1.90%
Volatility (1Y) Calculated over the trailing 1-year period	6.51%	10.58%	-4.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.57%	13.98%	-5.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.57%	17.04%	-8.47%

DHSB vs. RYLD - Expense Ratio Comparison

DHSB has a 0.68% expense ratio, which is higher than RYLD's 0.60% expense ratio.

Dividends

DHSB vs. RYLD - Dividend Comparison

DHSB's dividend yield for the trailing twelve months is around 1.18%, less than RYLD's 11.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
DHSB Day Hagan Smart Buffer ETF	1.18%	1.25%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
RYLD Global X Russell 2000 Covered Call ETF	11.50%	12.00%	12.03%	12.64%	13.49%	12.35%	10.76%	6.43%

Frequently Asked Questions

Can I hold both DHSB and RYLD in my portfolio?

DHSB and RYLD have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DHSB or RYLD?

RYLD has higher volatility (2.30%) compared to DHSB (2.11%). In terms of maximum drawdown, DHSB dropped -7.65% vs RYLD's -41.53%.

Which ETF is better, DHSB or RYLD?

On 1-year performance, RYLD leads with 26.26% vs 9.26% for DHSB. On fees, RYLD is cheaper at 0.60% per year. On volatility, DHSB has been the lower-risk option at 2.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DHSB or RYLD?

Over the 1-year period, RYLD has performed better with a 26.26% return vs 9.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DHSB or RYLD?

RYLD is cheaper with a 0.60% expense ratio, compared with 0.68% for DHSB.

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

RYLD has the higher dividend yield at 11.50%, compared with 1.18% for DHSB.

What is the main difference between DHSB and RYLD?

They also come from different issuers: Day Hagan and Global X. Their fees differ too: 0.68% for DHSB and 0.60% for RYLD.

Which has better risk-adjusted returns?

RYLD currently has the higher Sharpe Ratio (2.50 vs 1.43), 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.