DYLG vs. IVVW

Last updated Jun 4, 2026

DYLG (Global X Dow 30 Covered Call & Growth ETF) and IVVW (iShares S&P 500 BuyWrite ETF) are both Derivative Income funds - DYLG tracks the Cboe DJIA Half BuyWrite Index - Benchmark TR Gross while IVVW tracks the Cboe S&P 500 Enhanced 1% OTM BuyWrite Index. Both are passively managed. Over the past year, DYLG returned 17.86% vs 20.07% for IVVW. A 0.74 correlation means they provide meaningful diversification when combined. DYLG charges 0.35%/yr vs 0.25%/yr for IVVW.

Performance

DYLG vs. IVVW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Dow 30 Covered Call & Growth ETF (DYLG) and iShares S&P 500 BuyWrite ETF (IVVW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with DYLG having a 4.63% return and IVVW slightly higher at 4.84%.

DYLG

• 1D: -0.65%
• 1M: 3.69%
• YTD: 4.63%
• 6M: 5.52%
• 1Y: 17.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IVVW

• 1D: -0.02%
• 1M: 1.90%
• YTD: 4.84%
• 6M: 6.58%
• 1Y: 20.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DYLG vs. IVVW - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DYLG Global X Dow 30 Covered Call & Growth ETF	4.63%	12.50%	10.68%
IVVW iShares S&P 500 BuyWrite ETF	4.84%	11.71%	12.90%

Correlation

The correlation between DYLG and IVVW is 0.73, 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	0.73
Correlation (All Time) Calculated using the full available price history since Mar 18, 2024	0.74

The correlation between DYLG and IVVW has been stable across timeframes, ranging from 0.73 to 0.74 - a consistent structural relationship.

DYLG vs. IVVW - Sectors Allocation Comparison

Sectors	DYLG	IVVW
Financial Services	27.2%	11.8%
Industrials	18.4%	8.3%
Technology	17.1%	35.6%
Healthcare	13.1%	8.5%
Consumer Cyclical	11.6%	10.1%
Consumer Defensive	4.4%	4.9%
Basic Materials	4.0%	1.8%
Energy	2.4%	3.5%
Communication Services	1.9%	11.2%
Real Estate	-	1.9%
Utilities	-	2.4%

Return for Risk

DYLG vs. IVVW — Risk / Return Rank

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

DYLG

DYLG Risk / Return Rank: 53
DYLG Sharpe Ratio Rank: 56
DYLG Sortino Ratio Rank: 57
DYLG Omega Ratio Rank: 57
DYLG Calmar Ratio Rank: 43
DYLG Martin Ratio Rank: 52

IVVW

IVVW Risk / Return Rank: 82
IVVW Sharpe Ratio Rank: 82
IVVW Sortino Ratio Rank: 83
IVVW Omega Ratio Rank: 91
IVVW Calmar Ratio Rank: 69
IVVW Martin Ratio Rank: 87

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.

DYLG vs. IVVW - 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 S&P 500 BuyWrite ETF (IVVW). 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.

	DYLG	IVVW	Difference
Sharpe ratio: Return per unit of total volatility	1.90	2.73	-0.82
Sortino ratio: Return per unit of downside risk	2.74	3.77	-1.03
Omega ratio: Gain probability vs. loss probability	1.35	1.61	-0.26
Calmar ratio: Return relative to maximum drawdown	2.16	3.47	-1.31
Martin ratio: Return relative to average drawdown	8.78	19.13	-10.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DYLG vs. IVVW - Sharpe Ratio Comparison

The current DYLG Sharpe Ratio is 1.90, which is lower than the IVVW Sharpe Ratio of 2.73. The chart below compares the historical Sharpe Ratios of DYLG and IVVW, 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

	DYLG	IVVW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.90	2.73	-0.82
Sharpe Ratio (All Time) Calculated using the full available price history	1.10	1.07	+0.04

Drawdowns

DYLG vs. IVVW - Drawdown Comparison

The maximum DYLG drawdown since its inception was -13.98%, smaller than the maximum IVVW drawdown of -16.79%. Use the drawdown chart below to compare losses from any high point for DYLG and IVVW.

Drawdown Indicators

	DYLG	IVVW	Difference
Max Drawdown Largest peak-to-trough decline	-13.98%	-16.79%	+2.81%
Max Drawdown (1Y) Largest decline over 1 year	-8.31%	-5.81%	-2.50%
Current Drawdown Current decline from peak	-0.65%	-0.09%	-0.56%
Average Drawdown Average peak-to-trough decline	-1.86%	-1.75%	-0.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.04%	1.05%	+0.99%

Volatility

DYLG vs. IVVW - Volatility Comparison

Global X Dow 30 Covered Call & Growth ETF (DYLG) has a higher volatility of 2.46% compared to iShares S&P 500 BuyWrite ETF (IVVW) at 1.13%. This indicates that DYLG's price experiences larger fluctuations and is considered to be riskier than IVVW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DYLG	IVVW	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.46%	1.13%	+1.33%
Volatility (6M) Calculated over the trailing 6-month period	7.46%	6.07%	+1.39%
Volatility (1Y) Calculated over the trailing 1-year period	9.44%	7.40%	+2.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.44%	12.66%	-1.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.44%	12.66%	-1.22%

DYLG vs. IVVW - Expense Ratio Comparison

DYLG has a 0.35% expense ratio, which is higher than IVVW's 0.25% expense ratio.

Dividends

DYLG vs. IVVW - Dividend Comparison

DYLG's dividend yield for the trailing twelve months is around 9.54%, less than IVVW's 19.70% yield.

Position	TTM	2025	2024	2023
DYLG Global X Dow 30 Covered Call & Growth ETF	9.54%	9.63%	16.55%	1.38%
IVVW iShares S&P 500 BuyWrite ETF	19.70%	18.55%	13.72%	0.00%

Frequently Asked Questions

Can I hold both DYLG and IVVW in my portfolio?

DYLG and IVVW have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DYLG or IVVW?

DYLG has higher volatility (2.46%) compared to IVVW (1.13%). In terms of maximum drawdown, DYLG dropped -13.98% vs IVVW's -16.79%.

Which ETF is better, DYLG or IVVW?

On 1-year performance, IVVW leads with 20.07% vs 17.86% for DYLG. On fees, IVVW is cheaper at 0.25% per year. On volatility, IVVW has been the lower-risk option at 1.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DYLG or IVVW?

Over the 1-year period, IVVW has performed better with a 20.07% return vs 17.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DYLG or IVVW?

IVVW is cheaper with a 0.25% expense ratio, compared with 0.35% for DYLG.

Which ETF pays a higher dividend yield, DYLG or IVVW?

IVVW has the higher dividend yield at 19.70%, compared with 9.54% for DYLG.

What is the main difference between DYLG and IVVW?

DYLG tracks Cboe DJIA Half BuyWrite Index - Benchmark TR Gross, while IVVW tracks Cboe S&P 500 Enhanced 1% OTM BuyWrite Index. They also come from different issuers: Global X and iShares. Their fees differ too: 0.35% for DYLG and 0.25% for IVVW.

Which has better risk-adjusted returns?

IVVW currently has the higher Sharpe Ratio (2.73 vs 1.90), 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.