FTKI vs. XRMI

Last updated Jun 24, 2026

FTKI (First Trust Small Cap BuyWrite Income ETF) and XRMI (Global X S&P 500 Risk Managed Income ETF) are both Derivative Income funds. FTKI is actively managed, while XRMI is passively managed. Over the past year, FTKI returned 19.26% vs 9.03% for XRMI. A 0.56 correlation means they provide meaningful diversification when combined. FTKI charges 0.85%/yr vs 0.60%/yr for XRMI.

Performance

FTKI vs. XRMI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Small Cap BuyWrite Income ETF (FTKI) and Global X S&P 500 Risk Managed Income ETF (XRMI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTKI achieves a 11.17% return, which is significantly higher than XRMI's 1.66% return.

FTKI

• 1D: -0.80%
• 1M: 2.65%
• YTD: 11.17%
• 6M: 9.83%
• 1Y: 19.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XRMI

• 1D: -0.52%
• 1M: 0.39%
• YTD: 1.66%
• 6M: 1.20%
• 1Y: 9.03%
• 3Y*: 6.90%
• 5Y*: —
• 10Y*: —

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

FTKI vs. XRMI - Yearly Performance Comparison

	2026 (YTD)	2025
FTKI First Trust Small Cap BuyWrite Income ETF	11.17%	4.33%
XRMI Global X S&P 500 Risk Managed Income ETF	1.66%	3.52%

Correlation

The correlation between FTKI and XRMI is 0.54, 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	0.54
Correlation (All Time) Calculated using the full available price history since Feb 27, 2025	0.56

The correlation between FTKI and XRMI has been stable across timeframes, ranging from 0.54 to 0.56 - a consistent structural relationship.

FTKI vs. XRMI - Sectors Allocation Comparison

Sectors	FTKI	XRMI
Financial Services	16.5%	11.6%
Technology	16.5%	39.5%
Consumer Cyclical	13.4%	9.5%
Healthcare	12.2%	8.5%
Industrials	11.6%	7.9%
Energy	9.8%	3.1%
Real Estate	6.7%	1.8%
Basic Materials	6.1%	1.7%
Communication Services	3.0%	10.3%
Utilities	1.8%	2.7%
Consumer Defensive	1.2%	4.6%

Return for Risk

FTKI vs. XRMI — Risk / Return Rank

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

FTKI

FTKI Risk / Return Rank: 69
FTKI Sharpe Ratio Rank: 66
FTKI Sortino Ratio Rank: 69
FTKI Omega Ratio Rank: 68
FTKI Calmar Ratio Rank: 75
FTKI Martin Ratio Rank: 69

XRMI

XRMI Risk / Return Rank: 48
XRMI Sharpe Ratio Rank: 51
XRMI Sortino Ratio Rank: 50
XRMI Omega Ratio Rank: 54
XRMI Calmar Ratio Rank: 38
XRMI Martin Ratio Rank: 46

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.

FTKI vs. XRMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Small Cap BuyWrite Income ETF (FTKI) and Global X S&P 500 Risk Managed Income ETF (XRMI). 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.

	FTKI	XRMI	Difference
Sharpe ratio: Return per unit of total volatility	1.95	1.65	+0.31
Sortino ratio: Return per unit of downside risk	2.83	2.30	+0.53
Omega ratio: Gain probability vs. loss probability	1.36	1.32	+0.05
Calmar ratio: Return relative to maximum drawdown	3.48	1.81	+1.67
Martin ratio: Return relative to average drawdown	11.64	7.28	+4.36

FTKI vs. XRMI - Sharpe Ratio Comparison

The current FTKI Sharpe Ratio is 1.95, which is comparable to the XRMI Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of FTKI and XRMI, 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

FTKI vs. XRMI - Drawdown Comparison

The maximum FTKI drawdown since its inception was -15.17%, roughly equal to the maximum XRMI drawdown of -15.31%. Use the drawdown chart below to compare losses from any high point for FTKI and XRMI.

Drawdown Indicators

	FTKI	XRMI	Difference
Max Drawdown Largest peak-to-trough decline	-15.17%	-15.31%	+0.14%
Max Drawdown (1Y) Largest decline over 1 year	-5.56%	-5.02%	-0.54%
Max Drawdown (3Y) Largest decline over 3 years	—	-8.34%	—
Current Drawdown Current decline from peak	-0.80%	-0.52%	-0.28%
Average Drawdown Average peak-to-trough decline	-2.52%	-5.87%	+3.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.66%	1.24%	+0.42%

Volatility

FTKI vs. XRMI - Volatility Comparison

First Trust Small Cap BuyWrite Income ETF (FTKI) has a higher volatility of 2.93% compared to Global X S&P 500 Risk Managed Income ETF (XRMI) at 1.71%. This indicates that FTKI's price experiences larger fluctuations and is considered to be riskier than XRMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTKI	XRMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.93%	1.71%	+1.22%
Volatility (6M) Calculated over the trailing 6-month period	7.70%	4.44%	+3.26%
Volatility (1Y) Calculated over the trailing 1-year period	9.91%	5.52%	+4.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.14%	6.91%	+8.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.14%	6.91%	+8.23%

FTKI vs. XRMI - Expense Ratio Comparison

FTKI has a 0.85% expense ratio, which is higher than XRMI's 0.60% expense ratio.

Dividends

FTKI vs. XRMI - Dividend Comparison

FTKI's dividend yield for the trailing twelve months is around 11.33%, less than XRMI's 12.73% yield.

Position	TTM	2025	2024	2023	2022	2021
FTKI First Trust Small Cap BuyWrite Income ETF	11.33%	8.99%	0.00%	0.00%	0.00%	0.00%
XRMI Global X S&P 500 Risk Managed Income ETF	12.73%	12.35%	11.86%	12.62%	12.84%	2.93%

Frequently Asked Questions

Can I hold both FTKI and XRMI in my portfolio?

FTKI and XRMI have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FTKI or XRMI?

FTKI has higher volatility (2.93%) compared to XRMI (1.71%). In terms of maximum drawdown, FTKI dropped -15.17% vs XRMI's -15.31%.

Which ETF is better, FTKI or XRMI?

On 1-year performance, FTKI leads with 19.26% vs 9.03% for XRMI. On fees, XRMI is cheaper at 0.60% per year. On volatility, XRMI has been the lower-risk option at 1.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FTKI or XRMI?

Over the 1-year period, FTKI has performed better with a 19.26% return vs 9.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FTKI or XRMI?

XRMI is cheaper with a 0.60% expense ratio, compared with 0.85% for FTKI.

Which ETF pays a higher dividend yield, FTKI or XRMI?

XRMI has the higher dividend yield at 12.73%, compared with 11.33% for FTKI.

What is the main difference between FTKI and XRMI?

They also come from different issuers: First Trust and Global X. Their fees differ too: 0.85% for FTKI and 0.60% for XRMI.

Which has better risk-adjusted returns?

FTKI currently has the higher Sharpe Ratio (1.95 vs 1.65), 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.