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HDV vs. XYLD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HDV vs. XYLD

Last updated Jun 24, 2026

HDV (iShares Core High Dividend ETF) and XYLD (Global X S&P 500 Covered Call ETF) are both exchange-traded funds - HDV is a Dividend fund tracking the Morningstar Dividend Yield Focus Index, while XYLD is a Derivative Income fund tracking the Cboe S&P 500 BuyWrite Index. Both are passively managed. Over the past 10 years, HDV returned 9.45%/yr vs 8.36%/yr for XYLD. A 0.58 correlation means they provide meaningful diversification when combined. HDV charges 0.08%/yr vs 0.60%/yr for XYLD.

Performance

HDV vs. XYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core High Dividend ETF (HDV) and Global X S&P 500 Covered Call ETF (XYLD). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, HDV achieves a 14.07% return, which is significantly higher than XYLD's 4.54% return. Over the past 10 years, HDV has outperformed XYLD with an annualized return of 9.45%, while XYLD has yielded a comparatively lower 8.36% annualized return.

HDV

1D
1.33%
1M
-1.35%
YTD
14.07%
6M
14.08%
1Y
21.06%
3Y*
15.48%
5Y*
11.09%
10Y*
9.45%

XYLD

1D
-0.89%
1M
0.36%
YTD
4.54%
6M
4.43%
1Y
16.08%
3Y*
11.33%
5Y*
7.32%
10Y*
8.36%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HDV vs. XYLD - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
HDV
iShares Core High Dividend ETF		14.07%11.90%14.16%1.72%7.05%19.45%-6.48%20.22%-3.01%13.40%
XYLD
Global X S&P 500 Covered Call ETF		4.54%8.02%19.49%11.10%-12.05%19.59%-0.56%21.41%-6.09%16.49%

Correlation

The correlation between HDV and XYLD is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.08

Correlation (3Y)
Calculated over the trailing 3-year period

0.28

Correlation (5Y)
Calculated over the trailing 5-year period

0.45

Correlation (10Y)
Calculated over the trailing 10-year period

0.55

Correlation (All Time)
Calculated using the full available price history since Jun 24, 2013

0.58

Over the past year, the correlation between HDV and XYLD has dropped to 0.08 - well below their long-term average of 0.58, suggesting their price drivers have been diverging.

HDV vs. XYLD - Sectors Allocation Comparison

Sectors
HDV
XYLD

Consumer Defensive

24.5%
4.5%

Healthcare

22.6%
8.3%

Energy

20.2%
3.2%

Consumer Cyclical

9.2%
9.9%

Utilities

8.1%
2.1%

Communication Services

5.7%
10.6%

Financial Services

4.7%
11.1%

Industrials

3.5%
7.8%

Basic Materials

0.8%
1.7%

Technology

0.2%
39.0%

Real Estate

-

1.8%

Consumer Defensive

HDV
24.5%
XYLD
4.5%

Healthcare

HDV
22.6%
XYLD
8.3%

Energy

HDV
20.2%
XYLD
3.2%

Consumer Cyclical

HDV
9.2%
XYLD
9.9%

Utilities

HDV
8.1%
XYLD
2.1%

Communication Services

HDV
5.7%
XYLD
10.6%

Financial Services

HDV
4.7%
XYLD
11.1%

Industrials

HDV
3.5%
XYLD
7.8%

Basic Materials

HDV
0.8%
XYLD
1.7%

Technology

HDV
0.2%
XYLD
39.0%

Real Estate

HDV

-

XYLD
1.8%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Core High Dividend ETF

Global X S&P 500 Covered Call ETF

Often compared with HDV:
HDV vs. SCHDHDV vs. VYMHDV vs. SPYDHDV vs. DGROHDV vs. DVYHDV vs. VIGHDV vs. SPY
Often compared with XYLD:
XYLD vs. JEPIXYLD vs. QYLDXYLD vs. SPYXYLD vs. RYLDXYLD vs. XYLGXYLD vs. VOOXYLD vs. SCHD

Return for Risk

HDV vs. XYLD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HDV
HDV Risk / Return Rank: 7070
Overall Rank
HDV Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
HDV Sortino Ratio Rank: 7373
Sortino Ratio Rank
HDV Omega Ratio Rank: 6262
Omega Ratio Rank
HDV Calmar Ratio Rank: 8181
Calmar Ratio Rank
HDV Martin Ratio Rank: 6464
Martin Ratio Rank
XYLD
XYLD Risk / Return Rank: 7878
Overall Rank
XYLD Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
XYLD Sortino Ratio Rank: 7979
Sortino Ratio Rank
XYLD Omega Ratio Rank: 8989
Omega Ratio Rank
XYLD Calmar Ratio Rank: 6464
Calmar Ratio Rank
XYLD Martin Ratio Rank: 8282
Martin Ratio Rank
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.

HDV vs. XYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core High Dividend ETF (HDV) 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.

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.

HDVXYLDDifference
Sharpe ratioReturn per unit of total volatility
2.13
2.36

-0.23

Sortino ratioReturn per unit of downside risk
3.13
3.34

-0.22

Omega ratioGain probability vs. loss probability

1.36

1.54

-0.18

Calmar ratioReturn relative to maximum drawdown

4.09

3.05

+1.03

Martin ratioReturn relative to average drawdown

11.19

15.99

-4.80

HDV vs. XYLD - Sharpe Ratio Comparison

The current HDV Sharpe Ratio is 2.13, which is comparable to the XYLD Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of HDV 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.

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Drawdowns

HDV vs. XYLD - Drawdown Comparison

The maximum HDV drawdown since its inception was -37.04%, which is greater than XYLD's maximum drawdown of -33.46%. Use the drawdown chart below to compare losses from any high point for HDV and XYLD.

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Drawdown Indicators

HDVXYLDDifference

Max Drawdown

Largest peak-to-trough decline

-37.04%

-33.46%

-3.58%

Max Drawdown (1Y)

Largest decline over 1 year

-5.18%

-5.29%

+0.11%

Max Drawdown (3Y)

Largest decline over 3 years

-10.49%

-15.53%

+5.04%

Max Drawdown (5Y)

Largest decline over 5 years

-15.42%

-18.66%

+3.24%

Max Drawdown (10Y)

Largest decline over 10 years

-37.04%

-33.46%

-3.58%

Current Drawdown

Current decline from peak

-1.35%

-0.93%

-0.42%

Average Drawdown

Average peak-to-trough decline

-3.08%

-3.70%

+0.62%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.89%

1.01%

+0.88%

Volatility

HDV vs. XYLD - Volatility Comparison

iShares Core High Dividend ETF (HDV) has a higher volatility of 3.64% compared to Global X S&P 500 Covered Call ETF (XYLD) at 2.36%. This indicates that HDV'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

HDVXYLDDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.64%

2.36%

+1.28%

Volatility (6M)

Calculated over the trailing 6-month period

7.61%

5.83%

+1.78%

Volatility (1Y)

Calculated over the trailing 1-year period

9.93%

6.86%

+3.07%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.81%

11.26%

+1.55%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.73%

14.19%

+1.54%

HDV vs. XYLD - Expense Ratio Comparison

HDV has a 0.08% expense ratio, which is lower than XYLD's 0.60% expense ratio.

Dividends

HDV vs. XYLD - Dividend Comparison

HDV's dividend yield for the trailing twelve months is around 2.90%, less than XYLD's 10.53% yield.

PositionTTM20252024202320222021202020192018201720162015
HDV
iShares Core High Dividend ETF		2.90%3.22%3.67%3.82%3.56%3.47%4.07%3.27%3.67%3.27%3.28%3.92%
XYLD
Global X S&P 500 Covered Call ETF		10.53%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

HDV and XYLD have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

HDV has higher volatility (3.64%) compared to XYLD (2.36%). In terms of maximum drawdown, HDV dropped -37.04% vs XYLD's -33.46%.

On 10-year performance, HDV leads with 9.45% vs 8.36% for XYLD. On fees, HDV is cheaper at 0.08% per year. On volatility, XYLD has been the lower-risk option at 2.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, HDV has performed better with a 9.45% return vs 8.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

HDV is cheaper with a 0.08% expense ratio, compared with 0.60% for XYLD.

XYLD has the higher dividend yield at 10.53%, compared with 2.90% for HDV.

HDV is categorized as Dividend, while XYLD is Derivative Income. HDV tracks Morningstar Dividend Yield Focus Index, while XYLD tracks Cboe S&P 500 BuyWrite Index. They also come from different issuers: iShares and Global X. Their fees differ too: 0.08% for HDV and 0.60% for XYLD.

XYLD currently has the higher Sharpe Ratio (2.36 vs 2.13), 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.

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