EWMC vs. RYLD

Last updated Jun 24, 2026

EWMC (Invesco S&P MidCap 400 GARP ETF) and RYLD (Global X Russell 2000 Covered Call ETF) are both exchange-traded funds - EWMC is a Small Cap Blend Equities fund tracking the S&P MidCap 400 GARP Index, while RYLD is a Derivative Income fund tracking the CBOE Russell 2000 BuyWrite Index. Both are passively managed. Over the past 5 years, EWMC returned 7.76%/yr vs 2.45%/yr for RYLD. Their correlation of 0.83 suggests significant overlap in exposure. EWMC charges 0.35%/yr vs 0.60%/yr for RYLD.

Performance

EWMC vs. RYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P MidCap 400 GARP ETF (EWMC) and Global X Russell 2000 Covered Call ETF (RYLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EWMC achieves a 6.14% return, which is significantly lower than RYLD's 9.51% return.

EWMC

• 1D: 0.27%
• 1M: 0.27%
• YTD: 6.14%
• 6M: 4.64%
• 1Y: 19.85%
• 3Y*: 14.49%
• 5Y*: 7.76%
• 10Y*: 11.23%

RYLD

• 1D: -0.50%
• 1M: 2.12%
• YTD: 9.51%
• 6M: 8.37%
• 1Y: 20.74%
• 3Y*: 8.72%
• 5Y*: 2.45%
• 10Y*: —

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

EWMC vs. RYLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
EWMC Invesco S&P MidCap 400 GARP ETF	6.14%	7.81%	15.67%	18.79%	-11.63%	26.35%	15.60%	3.60%
RYLD Global X Russell 2000 Covered Call ETF	9.51%	5.65%	10.13%	0.27%	-13.03%	22.13%	-0.44%	8.86%

Correlation

The correlation between EWMC and RYLD is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (All Time) Calculated using the full available price history since Apr 22, 2019	0.83

The correlation between EWMC and RYLD has been stable across timeframes, ranging from 0.74 to 0.83 - a consistent structural relationship.

EWMC vs. RYLD - Sectors Allocation Comparison

Sectors	EWMC	RYLD
Industrials	17.9%	18.0%
Consumer Cyclical	16.0%	8.0%
Financial Services	13.8%	15.5%
Technology	13.3%	19.0%
Healthcare	9.8%	16.3%
Real Estate	7.8%	5.9%
Basic Materials	5.9%	4.7%
Energy	5.1%	5.4%
Consumer Defensive	5.0%	2.3%
Utilities	3.4%	2.8%
Communication Services	2.0%	2.4%

Return for Risk

EWMC vs. RYLD — Risk / Return Rank

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

EWMC

EWMC Risk / Return Rank: 43
EWMC Sharpe Ratio Rank: 37
EWMC Sortino Ratio Rank: 38
EWMC Omega Ratio Rank: 33
EWMC Calmar Ratio Rank: 57
EWMC Martin Ratio Rank: 48

RYLD

RYLD Risk / Return Rank: 68
RYLD Sharpe Ratio Rank: 62
RYLD Sortino Ratio Rank: 62
RYLD Omega Ratio Rank: 73
RYLD Calmar Ratio Rank: 69
RYLD Martin Ratio Rank: 74

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.

EWMC vs. RYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P MidCap 400 GARP ETF (EWMC) and Global X Russell 2000 Covered Call ETF (RYLD). 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.

	EWMC	RYLD	Difference
Sharpe ratio: Return per unit of total volatility	1.24	1.96	-0.72
Sortino ratio: Return per unit of downside risk	1.84	2.76	-0.92
Omega ratio: Gain probability vs. loss probability	1.22	1.41	-0.19
Calmar ratio: Return relative to maximum drawdown	2.62	3.31	-0.69
Martin ratio: Return relative to average drawdown	7.66	13.37	-5.71

EWMC vs. RYLD - Sharpe Ratio Comparison

The current EWMC Sharpe Ratio is 1.24, which is lower than the RYLD Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of EWMC and RYLD, 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

EWMC vs. RYLD - Drawdown Comparison

The maximum EWMC drawdown since its inception was -43.12%, roughly equal to the maximum RYLD drawdown of -41.53%. Use the drawdown chart below to compare losses from any high point for EWMC and RYLD.

Drawdown Indicators

	EWMC	RYLD	Difference
Max Drawdown Largest peak-to-trough decline	-43.12%	-41.53%	-1.59%
Max Drawdown (1Y) Largest decline over 1 year	-7.62%	-6.29%	-1.33%
Max Drawdown (3Y) Largest decline over 3 years	-28.09%	-19.05%	-9.04%
Max Drawdown (5Y) Largest decline over 5 years	-28.09%	-21.33%	-6.76%
Max Drawdown (10Y) Largest decline over 10 years	-43.12%	—	—
Current Drawdown Current decline from peak	-2.49%	-0.50%	-1.99%
Average Drawdown Average peak-to-trough decline	-5.69%	-8.78%	+3.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.60%	1.55%	+1.05%

Volatility

EWMC vs. RYLD - Volatility Comparison

Invesco S&P MidCap 400 GARP ETF (EWMC) has a higher volatility of 3.73% compared to Global X Russell 2000 Covered Call ETF (RYLD) at 2.00%. This indicates that EWMC's price experiences larger fluctuations and is considered to be riskier than RYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EWMC	RYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.73%	2.00%	+1.73%
Volatility (6M) Calculated over the trailing 6-month period	10.40%	7.80%	+2.60%
Volatility (1Y) Calculated over the trailing 1-year period	16.15%	10.66%	+5.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.88%	14.05%	+6.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.22%	17.15%	+5.07%

EWMC vs. RYLD - Expense Ratio Comparison

EWMC has a 0.35% expense ratio, which is lower than RYLD's 0.60% expense ratio.

Dividends

EWMC vs. RYLD - Dividend Comparison

EWMC's dividend yield for the trailing twelve months is around 0.75%, less than RYLD's 11.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EWMC Invesco S&P MidCap 400 GARP ETF	0.75%	1.19%	0.95%	0.96%	1.28%	0.92%	1.16%	1.25%	1.50%	1.14%	1.00%	1.43%
RYLD Global X Russell 2000 Covered Call ETF	11.73%	12.00%	12.03%	12.64%	13.49%	12.35%	10.76%	6.43%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EWMC and RYLD in my portfolio?

EWMC and RYLD have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EWMC or RYLD?

EWMC has higher volatility (3.73%) compared to RYLD (2.00%). In terms of maximum drawdown, EWMC dropped -43.12% vs RYLD's -41.53%.

Which ETF is better, EWMC or RYLD?

On 5-year performance, EWMC leads with 7.76% vs 2.45% for RYLD. On fees, EWMC is cheaper at 0.35% per year. On volatility, RYLD has been the lower-risk option at 2.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EWMC or RYLD?

Over the 5-year period, EWMC has performed better with a 7.76% return vs 2.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EWMC or RYLD?

EWMC is cheaper with a 0.35% expense ratio, compared with 0.60% for RYLD.

Which ETF pays a higher dividend yield, EWMC or RYLD?

RYLD has the higher dividend yield at 11.73%, compared with 0.75% for EWMC.

What is the main difference between EWMC and RYLD?

EWMC is categorized as Small Cap Blend Equities, while RYLD is Derivative Income. EWMC tracks S&P MidCap 400 GARP Index, while RYLD tracks CBOE Russell 2000 BuyWrite Index. They also come from different issuers: Invesco and Global X. Their fees differ too: 0.35% for EWMC and 0.60% for RYLD.

Which has better risk-adjusted returns?

RYLD currently has the higher Sharpe Ratio (1.96 vs 1.24), 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.