DJIA vs. HYGW

Last updated Aug 2, 2026

DJIA (Global X Dow 30 Covered Call ETF) and HYGW (iShares High Yield Corporate Bond Buywrite Strategy ETF) are both Derivative Income funds - DJIA tracks the DJIA Cboe BuyWrite v2 Index while HYGW tracks the Cboe HYG BuyWrite Index. Both are passively managed. Over the past 3 years, DJIA returned 10.61%/yr vs 5.30%/yr for HYGW. Their 0.50 correlation means their historical movements had little consistent relationship. DJIA charges 0.60%/yr vs 0.69%/yr for HYGW.

Performance

DJIA vs. HYGW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Dow 30 Covered Call ETF (DJIA) and iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DJIA achieves a 7.17% return, which is significantly higher than HYGW's 2.36% return.

DJIA

• 1D: 0.54%
• 1M: 1.96%
• 6M: 5.45%
• YTD: 7.17%
• 1Y: 17.26%
• 3Y*: 10.61%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 8.68%

HYGW

• 1D: 0.14%
• 1M: 0.03%
• 6M: 1.81%
• YTD: 2.36%
• 1Y: 5.90%
• 3Y*: 5.30%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.68%

*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)
DJIA Global X Dow 30 Covered Call ETF	$1.40M	$1.28M	$1.40M
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF	$480.97K	$636.40K	$814.79K

DJIA vs. HYGW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DJIA Global X Dow 30 Covered Call ETF	7.17%	9.11%	14.52%	9.15%	-3.76%
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF	2.36%	6.19%	6.99%	7.31%	-0.39%

Correlation

The correlation between DJIA and HYGW is 0.47, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.47
Correlation (3Y) Balances recent behavior with more history.	0.44
Correlation (All Time) Calculated using the full available price history since Aug 22, 2022	0.50

Return for Risk

DJIA vs. HYGW — Risk / Return Rank

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

DJIA

DJIA Risk / Return Rank: 80
DJIA Sharpe Ratio Rank: 88
DJIA Sortino Ratio Rank: 88
DJIA Omega Ratio Rank: 91
DJIA Calmar Ratio Rank: 64
DJIA Martin Ratio Rank: 68

HYGW

HYGW Risk / Return Rank: 88
HYGW Sharpe Ratio Rank: 86
HYGW Sortino Ratio Rank: 87
HYGW Omega Ratio Rank: 90
HYGW Calmar Ratio Rank: 85
HYGW Martin Ratio Rank: 90

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.

DJIA vs. HYGW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Dow 30 Covered Call ETF (DJIA) and iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW). 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.

	DJIA	HYGW	Difference
Sharpe ratio: Return per unit of total volatility	2.11	2.03	+0.08
Sortino ratio: Return per unit of downside risk	2.99	2.95	+0.04
Omega ratio: Gain probability vs. loss probability	1.43	1.42	+0.01
Calmar ratio: Return relative to maximum drawdown	2.21	3.26	-1.05
Martin ratio: Return relative to average drawdown	8.24	14.57	-6.32

DJIA vs. HYGW - Sharpe Ratio Comparison

The current DJIA Sharpe Ratio is 2.11, which is comparable to the HYGW Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of DJIA and HYGW, 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

DJIA vs. HYGW - Drawdown Comparison

The maximum DJIA drawdown since its inception was -16.91%, which is greater than HYGW's maximum drawdown of -5.49%. Use the drawdown chart below to compare losses from any high point for DJIA and HYGW.

Drawdown Indicators

	DJIA	HYGW	Difference
Max Drawdown Largest peak-to-trough decline	-16.91%	-5.49%	-11.42%
Max Drawdown (1Y) Largest decline over 1 year	-7.34%	-1.82%	-5.52%
Max Drawdown (3Y) Largest decline over 3 years	-12.09%	-3.42%	-8.67%
Current Drawdown Current decline from peak	-0.13%	-0.21%	+0.08%
Average Drawdown Average peak-to-trough decline	-3.47%	-0.59%	-2.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.97%	0.41%	+1.56%

Volatility

DJIA vs. HYGW - Volatility Comparison

Global X Dow 30 Covered Call ETF (DJIA) has a higher volatility of 2.36% compared to iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW) at 0.80%. This indicates that DJIA's price experiences larger fluctuations and is considered to be riskier than HYGW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DJIA	HYGW	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.36%	0.80%	+1.56%
Volatility (6M) Calculated over the trailing 6-month period	6.47%	2.32%	+4.15%
Volatility (1Y) Calculated over the trailing 1-year period	7.68%	2.92%	+4.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.09%	4.62%	+6.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.09%	4.62%	+6.47%

DJIA vs. HYGW - Expense Ratio Comparison

DJIA has a 0.60% expense ratio, which is lower than HYGW's 0.69% expense ratio.

Dividends

DJIA vs. HYGW - Dividend Comparison

DJIA's dividend yield for the trailing twelve months is around 10.44%, less than HYGW's 10.71% yield.

Position	TTM	2025	2024	2023	2022
DJIA Global X Dow 30 Covered Call ETF	10.44%	10.60%	11.44%	7.16%	9.18%
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF	10.71%	12.53%	12.30%	15.98%	8.71%

Frequently Asked Questions

Can I hold both DJIA and HYGW in my portfolio?

DJIA and HYGW have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DJIA or HYGW?

DJIA has higher volatility (2.36%) compared to HYGW (0.80%). In terms of maximum drawdown, DJIA dropped -16.91% vs HYGW's -5.49%.

Which ETF is better, DJIA or HYGW?

On 3-year performance, DJIA leads with 10.61% vs 5.30% for HYGW. On fees, DJIA is cheaper at 0.60% per year. On volatility, HYGW has been the lower-risk option at 0.80%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DJIA or HYGW?

Over the 3-year period, DJIA has performed better with a 10.61% return vs 5.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DJIA or HYGW?

DJIA is cheaper with a 0.60% expense ratio, compared with 0.69% for HYGW.

Which ETF pays a higher dividend yield, DJIA or HYGW?

HYGW has the higher dividend yield at 10.71%, compared with 10.44% for DJIA.

What is the main difference between DJIA and HYGW?

DJIA tracks DJIA Cboe BuyWrite v2 Index, while HYGW tracks Cboe HYG BuyWrite Index. They also come from different issuers: Global X and iShares. Their fees differ too: 0.60% for DJIA and 0.69% for HYGW.

Which has better risk-adjusted returns?

DJIA currently has the higher Sharpe Ratio (2.11 vs 2.03), 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.