HIGH vs. XYLD
HIGH (Simplify Enhanced Income ETF) and XYLD (Global X S&P 500 Covered Call ETF) are both Derivative Income funds. HIGH is actively managed, while XYLD is passively managed. Over the past 3 years, HIGH returned 2.43%/yr vs 11.51%/yr for XYLD. Their 0.42 correlation means their historical movements had little consistent relationship. HIGH charges 0.50%/yr vs 0.60%/yr for XYLD.
Performance
HIGH vs. XYLD - Performance Comparison
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Returns By Period
In the year-to-date period, HIGH achieves a -1.00% return, which is significantly lower than XYLD's 8.05% return.
HIGH
- 1D
- 0.30%
- 1M
- -0.44%
- 6M
- -0.14%
- YTD
- -1.00%
- 1Y
- -1.25%
- 3Y*
- 2.43%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.43%
XYLD
- 1D
- 0.49%
- 1M
- 1.82%
- 6M
- 6.81%
- YTD
- 8.05%
- 1Y
- 18.90%
- 3Y*
- 11.51%
- 5Y*
- 7.90%
- 10Y*
- 8.34%
- ALL TIME*
- 8.37%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $264.89K | $245.02K | $537.34K | |
| $36.93M | $37.58M | $32.35M |
HIGH vs. XYLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HIGH Simplify Enhanced Income ETF | -1.00% | 4.35% | 1.52% | 7.70% | 0.47% |
XYLD Global X S&P 500 Covered Call ETF | 8.05% | 8.02% | 19.49% | 11.10% | 0.88% |
Correlation
The correlation between HIGH and XYLD is 0.64, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.64 |
Correlation (3Y) Balances recent behavior with more history. | 0.50 |
Correlation (All Time) Calculated using the full available price history since Oct 28, 2022 | 0.42 |
Over the past year, HIGH and XYLD have become more correlated (0.64) than their long-term average of 0.42, meaning their price movements have been converging.
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Return for Risk
HIGH vs. XYLD — Risk / Return Rank
HIGH
XYLD
HIGH vs. XYLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Enhanced Income ETF (HIGH) 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.
| HIGH | XYLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.74 | ||
| Sortino ratioReturn per unit of downside risk | -3.85 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.56 | -0.59 |
| Calmar ratioReturn relative to maximum drawdown | -0.21 | 3.40 | -3.62 |
| Martin ratioReturn relative to average drawdown | -0.34 | 17.69 | -18.03 |
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Drawdowns
HIGH vs. XYLD - Drawdown Comparison
The maximum HIGH drawdown since its inception was -9.50%, smaller than the maximum XYLD drawdown of -33.46%. Use the drawdown chart below to compare losses from any high point for HIGH and XYLD.
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Drawdown Indicators
| HIGH | XYLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.50% | -33.46% | +23.96% |
Max Drawdown (1Y)Largest decline over 1 year | -7.08% | -5.29% | -1.79% |
Max Drawdown (3Y)Largest decline over 3 years | -9.50% | -15.53% | +6.03% |
Max Drawdown (5Y)Largest decline over 5 years | — | -18.66% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.46% | — |
Current DrawdownCurrent decline from peak | -7.69% | 0.00% | -7.69% |
Average DrawdownAverage peak-to-trough decline | -2.59% | -3.68% | +1.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.46% | 1.02% | +3.44% |
Volatility
HIGH vs. XYLD - Volatility Comparison
Simplify Enhanced Income ETF (HIGH) has a higher volatility of 2.16% compared to Global X S&P 500 Covered Call ETF (XYLD) at 1.92%. This indicates that HIGH'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
| HIGH | XYLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.16% | 1.92% | +0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 3.90% | 5.97% | -2.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.23% | 7.13% | +0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.46% | 11.27% | -1.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.46% | 14.15% | -4.69% |
HIGH vs. XYLD - Expense Ratio Comparison
HIGH has a 0.50% expense ratio, which is lower than XYLD's 0.60% expense ratio.
Dividends
HIGH vs. XYLD - Dividend Comparison
HIGH's dividend yield for the trailing twelve months is around 6.88%, less than XYLD's 10.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HIGH Simplify Enhanced Income ETF | 6.88% | 7.71% | 8.34% | 9.40% | 0.62% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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
HIGH and XYLD have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HIGH has higher volatility (2.16%) compared to XYLD (1.92%). In terms of maximum drawdown, HIGH dropped -9.50% vs XYLD's -33.46%.
On 3-year performance, XYLD leads with 11.51% vs 2.43% for HIGH. On fees, HIGH is cheaper at 0.50% per year. On volatility, XYLD has been the lower-risk option at 1.92%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, XYLD has performed better with a 11.51% return vs 2.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HIGH is cheaper with a 0.50% expense ratio, compared with 0.60% for XYLD.
XYLD has the higher dividend yield at 10.53%, compared with 6.88% for HIGH.
They also come from different issuers: Simplify and Global X. Their fees differ too: 0.50% for HIGH and 0.60% for XYLD.
XYLD currently has the higher Sharpe Ratio (2.53 vs -0.21), 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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