GOEX vs. XYLD

Last updated Jun 4, 2026

GOEX (Global X Gold Explorers ETF) and XYLD (Global X S&P 500 Covered Call ETF) are both exchange-traded funds - GOEX is a Materials fund tracking the Solactive Global Gold Explorers & Developers Total Return, while XYLD is a Derivative Income fund tracking the Cboe S&P 500 BuyWrite Index. Both are passively managed. Over the past 10 years, GOEX returned 13.99%/yr vs 8.25%/yr for XYLD. At a 0.14 correlation, their price movements are largely independent. GOEX charges 0.65%/yr vs 0.60%/yr for XYLD.

Performance

GOEX vs. XYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Gold Explorers ETF (GOEX) 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, GOEX achieves a -5.02% return, which is significantly lower than XYLD's 4.96% return. Over the past 10 years, GOEX has outperformed XYLD with an annualized return of 13.99%, while XYLD has yielded a comparatively lower 8.25% annualized return.

GOEX

• 1D: -4.11%
• 1M: -3.45%
• YTD: -5.02%
• 6M: 2.89%
• 1Y: 64.25%
• 3Y*: 46.31%
• 5Y*: 18.83%
• 10Y*: 13.99%

XYLD

• 1D: -0.15%
• 1M: 2.00%
• YTD: 4.96%
• 6M: 6.48%
• 1Y: 17.66%
• 3Y*: 11.27%
• 5Y*: 7.72%
• 10Y*: 8.25%

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

GOEX vs. XYLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GOEX Global X Gold Explorers ETF	-5.02%	179.50%	19.38%	1.99%	-14.63%	-14.45%	34.98%	36.73%	-14.84%	12.61%
XYLD Global X S&P 500 Covered Call ETF	4.96%	8.02%	19.49%	11.10%	-12.05%	19.59%	-0.56%	21.41%	-6.09%	16.49%

Correlation

The correlation between GOEX and XYLD is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (5Y) Calculated over the trailing 5-year period	0.26
Correlation (10Y) Calculated over the trailing 10-year period	0.19
Correlation (All Time) Calculated using the full available price history since Jun 25, 2013	0.14

The correlation between GOEX and XYLD shifts across timeframes, from 0.14 (all time) to 0.32 (1 year), reflecting how their relationship changes across market environments.

GOEX vs. XYLD - Sectors Allocation Comparison

Sectors	GOEX	XYLD
Basic Materials	100.0%	1.8%
Communication Services	-	11.2%
Consumer Cyclical	-	10.2%
Consumer Defensive	-	4.9%
Energy	-	3.5%
Financial Services	-	11.8%
Healthcare	-	8.5%
Industrials	-	8.3%
Real Estate	-	1.9%
Technology	-	35.6%
Utilities	-	2.3%

Return for Risk

GOEX vs. XYLD — Risk / Return Rank

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

GOEX

GOEX Risk / Return Rank: 35
GOEX Sharpe Ratio Rank: 36
GOEX Sortino Ratio Rank: 32
GOEX Omega Ratio Rank: 35
GOEX Calmar Ratio Rank: 39
GOEX Martin Ratio Rank: 32

XYLD

XYLD Risk / Return Rank: 82
XYLD Sharpe Ratio Rank: 81
XYLD Sortino Ratio Rank: 84
XYLD Omega Ratio Rank: 92
XYLD Calmar Ratio Rank: 66
XYLD Martin Ratio Rank: 85

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.

GOEX vs. XYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Gold Explorers ETF (GOEX) 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.

	GOEX	XYLD	Difference
Sharpe ratio: Return per unit of total volatility	1.31	2.71	-1.40
Sortino ratio: Return per unit of downside risk	1.74	3.87	-2.12
Omega ratio: Gain probability vs. loss probability	1.24	1.64	-0.40
Calmar ratio: Return relative to maximum drawdown	1.97	3.35	-1.38
Martin ratio: Return relative to average drawdown	4.94	17.84	-12.90
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GOEX vs. XYLD - Sharpe Ratio Comparison

The current GOEX Sharpe Ratio is 1.31, which is lower than the XYLD Sharpe Ratio of 2.71. The chart below compares the historical Sharpe Ratios of GOEX 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

	GOEX	XYLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.31	2.71	-1.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.49	0.69	-0.21
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.35	0.58	-0.23
Sharpe Ratio (All Time) Calculated using the full available price history	0.02	0.60	-0.59

Drawdowns

GOEX vs. XYLD - Drawdown Comparison

The maximum GOEX drawdown since its inception was -88.83%, which is greater than XYLD's maximum drawdown of -33.46%. Use the drawdown chart below to compare losses from any high point for GOEX and XYLD.

Drawdown Indicators

	GOEX	XYLD	Difference
Max Drawdown Largest peak-to-trough decline	-88.83%	-33.46%	-55.37%
Max Drawdown (1Y) Largest decline over 1 year	-32.78%	-5.29%	-27.49%
Max Drawdown (3Y) Largest decline over 3 years	-32.78%	-15.53%	-17.25%
Max Drawdown (5Y) Largest decline over 5 years	-47.16%	-18.66%	-28.50%
Max Drawdown (10Y) Largest decline over 10 years	-53.66%	-33.46%	-20.20%
Current Drawdown Current decline from peak	-29.90%	-0.15%	-29.75%
Average Drawdown Average peak-to-trough decline	-63.59%	-3.72%	-59.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.04%	0.99%	+12.05%

Volatility

GOEX vs. XYLD - Volatility Comparison

Global X Gold Explorers ETF (GOEX) has a higher volatility of 14.62% compared to Global X S&P 500 Covered Call ETF (XYLD) at 0.88%. This indicates that GOEX'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

	GOEX	XYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.62%	0.88%	+13.74%
Volatility (6M) Calculated over the trailing 6-month period	39.87%	5.37%	+34.50%
Volatility (1Y) Calculated over the trailing 1-year period	49.13%	6.55%	+42.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.00%	11.22%	+27.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.97%	14.21%	+25.76%

GOEX vs. XYLD - Expense Ratio Comparison

GOEX has a 0.65% expense ratio, which is higher than XYLD's 0.60% expense ratio.

Dividends

GOEX vs. XYLD - Dividend Comparison

GOEX's dividend yield for the trailing twelve months is around 2.19%, less than XYLD's 10.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GOEX Global X Gold Explorers ETF	2.19%	2.08%	2.46%	0.05%	1.04%	2.35%	2.62%	1.60%	0.00%	0.00%	38.91%	11.70%
XYLD Global X S&P 500 Covered Call ETF	10.52%	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 GOEX and XYLD in my portfolio?

GOEX and XYLD have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GOEX or XYLD?

GOEX has higher volatility (14.62%) compared to XYLD (0.88%). In terms of maximum drawdown, GOEX dropped -88.83% vs XYLD's -33.46%.

Which ETF is better, GOEX or XYLD?

On 10-year performance, GOEX leads with 13.99% vs 8.25% for XYLD. On fees, XYLD is cheaper at 0.60% per year. On volatility, XYLD has been the lower-risk option at 0.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GOEX or XYLD?

Over the 10-year period, GOEX has performed better with a 13.99% return vs 8.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GOEX or XYLD?

XYLD is cheaper with a 0.60% expense ratio, compared with 0.65% for GOEX.

Which ETF pays a higher dividend yield, GOEX or XYLD?

XYLD has the higher dividend yield at 10.52%, compared with 2.19% for GOEX.

What is the main difference between GOEX and XYLD?

GOEX is categorized as Materials, while XYLD is Derivative Income. GOEX tracks Solactive Global Gold Explorers & Developers Total Return, while XYLD tracks Cboe S&P 500 BuyWrite Index. Their fees differ too: 0.65% for GOEX and 0.60% for XYLD.

Which has better risk-adjusted returns?

XYLD currently has the higher Sharpe Ratio (2.71 vs 1.31), 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.