EOI vs. XYLD

Last updated Jun 3, 2026

EOI (Eaton Vance Enhanced Equity Income Fund) and XYLD (Global X S&P 500 Covered Call ETF) are both funds - EOI is a Large Cap Blend Equities fund managed by Eaton Vance, while XYLD is a Derivative Income fund tracking the Cboe S&P 500 BuyWrite Index. Over the past 10 years, EOI returned 12.48%/yr vs 8.27%/yr for XYLD. A 0.62 correlation means they provide meaningful diversification when combined. EOI charges 0.01%/yr vs 0.60%/yr for XYLD.

Performance

EOI vs. XYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Enhanced Equity Income Fund (EOI) 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, EOI achieves a 0.26% return, which is significantly lower than XYLD's 5.11% return. Over the past 10 years, EOI has outperformed XYLD with an annualized return of 12.48%, while XYLD has yielded a comparatively lower 8.27% annualized return.

EOI

• 1D: -0.05%
• 1M: 0.72%
• YTD: 0.26%
• 6M: 5.41%
• 1Y: 7.33%
• 3Y*: 17.49%
• 5Y*: 10.47%
• 10Y*: 12.48%

XYLD

• 1D: 0.10%
• 1M: 2.13%
• YTD: 5.11%
• 6M: 6.72%
• 1Y: 18.23%
• 3Y*: 11.32%
• 5Y*: 7.82%
• 10Y*: 8.27%

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

EOI vs. XYLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EOI Eaton Vance Enhanced Equity Income Fund	0.26%	7.21%	35.73%	20.67%	-19.78%	32.93%	9.59%	31.97%	-4.26%	26.31%
XYLD Global X S&P 500 Covered Call ETF	5.11%	8.02%	19.49%	11.10%	-12.05%	19.59%	-0.56%	21.41%	-6.09%	16.49%

Correlation

The correlation between EOI and XYLD is 0.68, 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	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.64
Correlation (10Y) Calculated over the trailing 10-year period	0.62
Correlation (All Time) Calculated using the full available price history since Jun 25, 2013	0.62

The correlation between EOI and XYLD has been stable across timeframes, ranging from 0.61 to 0.68 - a consistent structural relationship.

Return for Risk

EOI vs. XYLD — Risk / Return Rank

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

EOI

EOI Risk / Return Rank: 7
EOI Sharpe Ratio Rank: 7
EOI Sortino Ratio Rank: 7
EOI Omega Ratio Rank: 7
EOI Calmar Ratio Rank: 6
EOI Martin Ratio Rank: 7

XYLD

XYLD Risk / Return Rank: 84
XYLD Sharpe Ratio Rank: 84
XYLD Sortino Ratio Rank: 88
XYLD Omega Ratio Rank: 94
XYLD Calmar Ratio Rank: 70
XYLD 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.

EOI vs. XYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Enhanced Equity Income Fund (EOI) 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.

	EOI	XYLD	Difference
Sharpe ratio Return per unit of total volatility	0.57	2.80	-2.23
Sortino ratio Return per unit of downside risk	0.89	3.98	-3.10
Omega ratio Gain probability vs. loss probability	1.11	1.67	-0.56
Calmar ratio Return relative to maximum drawdown	0.63	3.52	-2.89
Martin ratio Return relative to average drawdown	2.13	18.78	-16.66
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EOI vs. XYLD - Sharpe Ratio Comparison

The current EOI Sharpe Ratio is 0.57, which is lower than the XYLD Sharpe Ratio of 2.80. The chart below compares the historical Sharpe Ratios of EOI 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

	EOI	XYLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.57	2.80	-2.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.56	0.70	-0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.63	0.58	+0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.60	-0.18

Drawdowns

EOI vs. XYLD - Drawdown Comparison

The maximum EOI drawdown since its inception was -53.72%, which is greater than XYLD's maximum drawdown of -33.46%. Use the drawdown chart below to compare losses from any high point for EOI and XYLD.

Drawdown Indicators

	EOI	XYLD	Difference
Max Drawdown Largest peak-to-trough decline	-53.72%	-33.46%	-20.26%
Max Drawdown (1Y) Largest decline over 1 year	-12.52%	-5.29%	-7.23%
Max Drawdown (3Y) Largest decline over 3 years	-23.15%	-15.53%	-7.62%
Max Drawdown (5Y) Largest decline over 5 years	-26.82%	-18.66%	-8.16%
Max Drawdown (10Y) Largest decline over 10 years	-40.01%	-33.46%	-6.55%
Current Drawdown Current decline from peak	-2.33%	0.00%	-2.33%
Average Drawdown Average peak-to-trough decline	-7.39%	-3.72%	-3.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.72%	0.99%	+2.73%

Volatility

EOI vs. XYLD - Volatility Comparison

Eaton Vance Enhanced Equity Income Fund (EOI) has a higher volatility of 3.02% compared to Global X S&P 500 Covered Call ETF (XYLD) at 0.85%. This indicates that EOI'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

	EOI	XYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.02%	0.85%	+2.17%
Volatility (6M) Calculated over the trailing 6-month period	10.49%	5.37%	+5.12%
Volatility (1Y) Calculated over the trailing 1-year period	12.94%	6.55%	+6.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.64%	11.22%	+7.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.88%	14.21%	+5.67%

EOI vs. XYLD - Expense Ratio Comparison

EOI has a 0.01% expense ratio, which is lower than XYLD's 0.60% expense ratio.

Dividends

EOI vs. XYLD - Dividend Comparison

EOI's dividend yield for the trailing twelve months is around 8.05%, less than XYLD's 10.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EOI Eaton Vance Enhanced Equity Income Fund	8.05%	7.81%	7.38%	7.93%	8.80%	5.83%	6.66%	6.78%	8.01%	7.15%	8.36%	7.73%
XYLD Global X S&P 500 Covered Call ETF	10.50%	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 EOI and XYLD in my portfolio?

EOI and XYLD have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EOI or XYLD?

EOI has higher volatility (3.02%) compared to XYLD (0.85%). In terms of maximum drawdown, EOI dropped -53.72% vs XYLD's -33.46%.

Which has better risk-adjusted returns?

XYLD currently has the higher Sharpe Ratio (2.80 vs 0.57), 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.