ETW vs. XYLD
Compare and contrast key facts about Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (ETW) and Global X S&P 500 Covered Call ETF (XYLD).
XYLD is a passively managed fund by Global X that tracks the performance of the Cboe S&P 500 BuyWrite Index. It was launched on Jun 24, 2013.
Performance
ETW vs. XYLD - Performance Comparison
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ETW vs. XYLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ETW Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund | -1.13% | 20.10% | 19.03% | 9.34% | -23.87% | 25.36% | 3.24% | 18.87% | -12.10% | 30.42% |
XYLD Global X S&P 500 Covered Call ETF | -0.58% | 8.02% | 19.49% | 11.10% | -12.05% | 19.59% | -0.56% | 21.41% | -6.09% | 16.49% |
Returns By Period
In the year-to-date period, ETW achieves a -1.13% return, which is significantly lower than XYLD's -0.58% return. Both investments have delivered pretty close results over the past 10 years, with ETW having a 7.94% annualized return and XYLD not far behind at 7.92%.
ETW
- 1D
- 1.59%
- 1M
- -4.90%
- YTD
- -1.13%
- 6M
- 2.63%
- 1Y
- 18.63%
- 3Y*
- 13.24%
- 5Y*
- 6.18%
- 10Y*
- 7.94%
XYLD
- 1D
- 0.46%
- 1M
- -2.54%
- YTD
- -0.58%
- 6M
- 5.60%
- 1Y
- 10.98%
- 3Y*
- 10.37%
- 5Y*
- 7.05%
- 10Y*
- 7.92%
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Return for Risk
ETW vs. XYLD — Risk / Return Rank
ETW
XYLD
ETW vs. XYLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (ETW) 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.
| ETW | XYLD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.02 | 0.79 | +0.24 |
Sortino ratioReturn per unit of downside risk | 1.60 | 1.27 | +0.34 |
Omega ratioGain probability vs. loss probability | 1.25 | 1.26 | -0.01 |
Calmar ratioReturn relative to maximum drawdown | 1.45 | 1.09 | +0.36 |
Martin ratioReturn relative to average drawdown | 7.33 | 6.37 | +0.96 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ETW | XYLD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.02 | 0.79 | +0.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.37 | 0.63 | -0.26 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.40 | 0.56 | -0.16 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.33 | 0.57 | -0.24 |
Correlation
The correlation between ETW and XYLD is 0.60, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
ETW vs. XYLD - Dividend Comparison
ETW's dividend yield for the trailing twelve months is around 8.93%, less than XYLD's 10.93% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETW Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund | 8.93% | 8.64% | 9.17% | 8.99% | 10.87% | 7.80% | 9.01% | 8.41% | 11.46% | 9.27% | 11.59% | 10.40% |
XYLD Global X S&P 500 Covered Call ETF | 10.93% | 10.51% | 11.54% | 10.51% | 13.43% | 9.07% | 7.93% | 5.76% | 7.12% | 5.18% | 3.23% | 4.65% |
Drawdowns
ETW vs. XYLD - Drawdown Comparison
The maximum ETW drawdown since its inception was -54.13%, which is greater than XYLD's maximum drawdown of -33.46%. Use the drawdown chart below to compare losses from any high point for ETW and XYLD.
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Drawdown Indicators
| ETW | XYLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.13% | -33.46% | -20.67% |
Max Drawdown (1Y)Largest decline over 1 year | -12.62% | -10.14% | -2.48% |
Max Drawdown (5Y)Largest decline over 5 years | -27.94% | -18.66% | -9.28% |
Max Drawdown (10Y)Largest decline over 10 years | -47.96% | -33.46% | -14.50% |
Current DrawdownCurrent decline from peak | -5.50% | -2.94% | -2.56% |
Average DrawdownAverage peak-to-trough decline | -7.75% | -3.76% | -3.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.50% | 1.73% | +0.77% |
Volatility
ETW vs. XYLD - Volatility Comparison
Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (ETW) has a higher volatility of 6.68% compared to Global X S&P 500 Covered Call ETF (XYLD) at 4.03%. This indicates that ETW'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.
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Volatility by Period
| ETW | XYLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.68% | 4.03% | +2.65% |
Volatility (6M)Calculated over the trailing 6-month period | 9.65% | 5.83% | +3.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.27% | 13.99% | +4.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.75% | 11.30% | +5.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.83% | 14.23% | +5.60% |