DYLG vs. HYGW
DYLG (Global X Dow 30 Covered Call & Growth ETF) and HYGW (iShares High Yield Corporate Bond Buywrite Strategy ETF) are both Derivative Income funds - DYLG tracks the Cboe DJIA Half BuyWrite Index - Benchmark TR Gross while HYGW tracks the Cboe HYG BuyWrite Index. Both are passively managed. Over the past 3 years, DYLG returned 13.16%/yr vs 5.30%/yr for HYGW. Their 0.48 correlation means their historical movements had little consistent relationship. DYLG charges 0.35%/yr vs 0.69%/yr for HYGW.
Performance
DYLG vs. HYGW - Performance Comparison
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Returns By Period
In the year-to-date period, DYLG achieves a 8.59% return, which is significantly higher than HYGW's 2.36% return.
DYLG
- 1D
- 0.64%
- 1M
- 0.75%
- 6M
- 7.29%
- YTD
- 8.59%
- 1Y
- 20.19%
- 3Y*
- 13.16%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 13.25%
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%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $29.24K | $30.29K | $73.30K | |
| $480.97K | $636.40K | $814.79K |
DYLG vs. HYGW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
DYLG Global X Dow 30 Covered Call & Growth ETF | 8.59% | 12.50% | 14.46% | 4.05% |
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF | 2.36% | 6.19% | 6.99% | 0.48% |
Correlation
The correlation between DYLG and HYGW is 0.51, 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. | 0.51 |
Correlation (3Y) Balances recent behavior with more history. | 0.48 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2023 | 0.48 |
The correlation between DYLG and HYGW has been stable across timeframes, ranging from 0.48 to 0.51 - a consistent structural relationship.
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Return for Risk
DYLG vs. HYGW — Risk / Return Rank
DYLG
HYGW
DYLG vs. HYGW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Dow 30 Covered Call & Growth ETF (DYLG) 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.
| DYLG | HYGW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.42 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.30 | 3.26 | -0.96 |
| Martin ratioReturn relative to average drawdown | 9.40 | 14.57 | -5.17 |
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Drawdowns
DYLG vs. HYGW - Drawdown Comparison
The maximum DYLG drawdown since its inception was -13.98%, which is greater than HYGW's maximum drawdown of -5.49%. Use the drawdown chart below to compare losses from any high point for DYLG and HYGW.
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Drawdown Indicators
| DYLG | HYGW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.98% | -5.49% | -8.49% |
Max Drawdown (1Y)Largest decline over 1 year | -8.31% | -1.82% | -6.49% |
Max Drawdown (3Y)Largest decline over 3 years | -13.98% | -3.42% | -10.56% |
Current DrawdownCurrent decline from peak | -0.15% | -0.21% | +0.06% |
Average DrawdownAverage peak-to-trough decline | -1.78% | -0.59% | -1.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.03% | 0.41% | +1.62% |
Volatility
DYLG vs. HYGW - Volatility Comparison
Global X Dow 30 Covered Call & Growth ETF (DYLG) has a higher volatility of 3.02% compared to iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW) at 0.80%. This indicates that DYLG'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.
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Volatility by Period
| DYLG | HYGW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.02% | 0.80% | +2.22% |
Volatility (6M)Calculated over the trailing 6-month period | 7.91% | 2.32% | +5.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.70% | 2.92% | +6.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.35% | 4.62% | +6.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.35% | 4.62% | +6.73% |
DYLG vs. HYGW - Expense Ratio Comparison
DYLG has a 0.35% expense ratio, which is lower than HYGW's 0.69% expense ratio.
Dividends
DYLG vs. HYGW - Dividend Comparison
DYLG's dividend yield for the trailing twelve months is around 9.22%, less than HYGW's 10.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
DYLG Global X Dow 30 Covered Call & Growth ETF | 9.22% | 9.63% | 16.55% | 1.38% | 0.00% |
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF | 10.71% | 12.53% | 12.30% | 15.98% | 8.71% |
Frequently Asked Questions
DYLG and HYGW have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DYLG has higher volatility (3.02%) compared to HYGW (0.80%). In terms of maximum drawdown, DYLG dropped -13.98% vs HYGW's -5.49%.
On 3-year performance, DYLG leads with 13.16% vs 5.30% for HYGW. On fees, DYLG is cheaper at 0.35% 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.
Over the 3-year period, DYLG has performed better with a 13.16% return vs 5.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DYLG is cheaper with a 0.35% expense ratio, compared with 0.69% for HYGW.
HYGW has the higher dividend yield at 10.71%, compared with 9.22% for DYLG.
DYLG tracks Cboe DJIA Half BuyWrite Index - Benchmark TR Gross, while HYGW tracks Cboe HYG BuyWrite Index. They also come from different issuers: Global X and iShares. Their fees differ too: 0.35% for DYLG and 0.69% for HYGW.
HYGW currently has the higher Sharpe Ratio (2.03 vs 1.97), 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.
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