ISMD vs. RYLD

Last updated Aug 2, 2026

ISMD (Inspire Small/Mid Cap Impact ETF) and RYLD (Global X Russell 2000 Covered Call ETF) are both exchange-traded funds - ISMD is a Small Cap Blend Equities fund tracking the Inspire Small/Mid Cap Impact Equal Weight Index, while RYLD is a Derivative Income fund tracking the CBOE Russell 2000 BuyWrite Index. Both are passively managed. Over the past 5 years, ISMD returned 9.57%/yr vs 3.15%/yr for RYLD. Their correlation of 0.82 means they have usually moved in the same direction. ISMD charges 0.57%/yr vs 0.60%/yr for RYLD.

Performance

ISMD vs. RYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Inspire Small/Mid Cap Impact ETF (ISMD) 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, ISMD achieves a 27.66% return, which is significantly higher than RYLD's 12.29% return.

ISMD

• 1D: -0.28%
• 1M: -0.59%
• 6M: 18.90%
• YTD: 27.66%
• 1Y: 41.09%
• 3Y*: 14.14%
• 5Y*: 9.57%
• 10Y*: —
• ALL TIME*: 9.85%

RYLD

• 1D: -0.19%
• 1M: 1.19%
• 6M: 10.16%
• YTD: 12.29%
• 1Y: 24.93%
• 3Y*: 8.04%
• 5Y*: 3.15%
• 10Y*: —
• ALL TIME*: 5.81%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ISMD Inspire Small/Mid Cap Impact ETF	$2.42M	$2.34M	$1.91M
RYLD Global X Russell 2000 Covered Call ETF	$10.07M	$9.36M	$9.08M

ISMD vs. RYLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
ISMD Inspire Small/Mid Cap Impact ETF	27.66%	4.14%	9.53%	16.74%	-13.44%	29.38%	7.45%	4.97%
RYLD Global X Russell 2000 Covered Call ETF	12.29%	5.65%	10.13%	0.27%	-13.03%	22.13%	-0.44%	8.86%

Correlation

The correlation between ISMD and RYLD is 0.78, 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.	0.78
Correlation (3Y) Balances recent behavior with more history.	0.82
Correlation (5Y) Shows whether the relationship held over a longer period.	0.84
Correlation (All Time) Calculated using the full available price history since Apr 22, 2019	0.82

The correlation between ISMD and RYLD has been stable across timeframes, ranging from 0.78 to 0.84 - a consistent structural relationship.

ISMD vs. RYLD - Sectors Allocation Comparison

Sectors	ISMD	RYLD
Financial Services	17.1%	17.8%
Industrials	15.8%	14.1%
Technology	14.1%	14.5%
Consumer Cyclical	10.9%	9.2%
Healthcare	9.7%	20.3%
Real Estate	8.5%	6.8%
Basic Materials	6.8%	4.4%
Consumer Defensive	6.3%	2.6%
Energy	4.5%	5.5%
Utilities	3.6%	2.8%
Communication Services	1.5%	2.2%

Return for Risk

ISMD vs. RYLD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ISMD

ISMD Risk / Return Rank: 88
ISMD Sharpe Ratio Rank: 88
ISMD Sortino Ratio Rank: 88
ISMD Omega Ratio Rank: 85
ISMD Calmar Ratio Rank: 91
ISMD Martin Ratio Rank: 88

RYLD

RYLD Risk / Return Rank: 90
RYLD Sharpe Ratio Rank: 89
RYLD Sortino Ratio Rank: 89
RYLD Omega Ratio Rank: 92
RYLD Calmar Ratio Rank: 89
RYLD Martin Ratio Rank: 91

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ISMD vs. RYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Inspire Small/Mid Cap Impact ETF (ISMD) 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.

	ISMD	RYLD	Difference
Sharpe ratio: Return per unit of total volatility	2.14	2.17	-0.03
Sortino ratio: Return per unit of downside risk	3.02	3.05	-0.03
Omega ratio: Gain probability vs. loss probability	1.37	1.45	-0.08
Calmar ratio: Return relative to maximum drawdown	4.03	3.67	+0.36
Martin ratio: Return relative to average drawdown	13.05	15.02	-1.97

ISMD vs. RYLD - Sharpe Ratio Comparison

The current ISMD Sharpe Ratio is 2.14, which is comparable to the RYLD Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of ISMD 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

ISMD vs. RYLD - Drawdown Comparison

The maximum ISMD drawdown since its inception was -44.60%, which is greater than RYLD's maximum drawdown of -41.53%. Use the drawdown chart below to compare losses from any high point for ISMD and RYLD.

Drawdown Indicators

	ISMD	RYLD	Difference
Max Drawdown Largest peak-to-trough decline	-44.60%	-41.53%	-3.07%
Max Drawdown (1Y) Largest decline over 1 year	-9.64%	-6.29%	-3.35%
Max Drawdown (3Y) Largest decline over 3 years	-26.64%	-19.05%	-7.59%
Max Drawdown (5Y) Largest decline over 5 years	-26.64%	-21.33%	-5.31%
Current Drawdown Current decline from peak	-2.21%	-0.37%	-1.84%
Average Drawdown Average peak-to-trough decline	-8.05%	-8.65%	+0.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.97%	1.54%	+1.43%

Volatility

ISMD vs. RYLD - Volatility Comparison

Inspire Small/Mid Cap Impact ETF (ISMD) has a higher volatility of 3.68% compared to Global X Russell 2000 Covered Call ETF (RYLD) at 2.07%. This indicates that ISMD'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

	ISMD	RYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.68%	2.07%	+1.61%
Volatility (6M) Calculated over the trailing 6-month period	12.55%	7.73%	+4.82%
Volatility (1Y) Calculated over the trailing 1-year period	18.22%	10.67%	+7.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.76%	13.97%	+6.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.62%	17.04%	+6.58%

ISMD vs. RYLD - Expense Ratio Comparison

ISMD has a 0.57% expense ratio, which is lower than RYLD's 0.60% expense ratio.

Dividends

ISMD vs. RYLD - Dividend Comparison

ISMD's dividend yield for the trailing twelve months is around 1.12%, less than RYLD's 11.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
ISMD Inspire Small/Mid Cap Impact ETF	1.12%	1.21%	1.24%	1.17%	1.28%	9.35%	0.99%	0.88%	1.35%	2.02%
RYLD Global X Russell 2000 Covered Call ETF	11.62%	12.00%	12.03%	12.64%	13.49%	12.35%	10.76%	6.43%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ISMD and RYLD in my portfolio?

ISMD and RYLD have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ISMD or RYLD?

ISMD has higher volatility (3.68%) compared to RYLD (2.07%). In terms of maximum drawdown, ISMD dropped -44.60% vs RYLD's -41.53%.

Which ETF is better, ISMD or RYLD?

On 5-year performance, ISMD leads with 9.57% vs 3.15% for RYLD. On fees, ISMD is cheaper at 0.57% per year. On volatility, RYLD has been the lower-risk option at 2.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ISMD or RYLD?

Over the 5-year period, ISMD has performed better with a 9.57% return vs 3.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ISMD or RYLD?

ISMD is cheaper with a 0.57% expense ratio, compared with 0.60% for RYLD.

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

RYLD has the higher dividend yield at 11.62%, compared with 1.12% for ISMD.

What is the main difference between ISMD and RYLD?

ISMD is categorized as Small Cap Blend Equities, while RYLD is Derivative Income. ISMD tracks Inspire Small/Mid Cap Impact Equal Weight Index, while RYLD tracks CBOE Russell 2000 BuyWrite Index. They also come from different issuers: Inspire and Global X. Their fees differ too: 0.57% for ISMD and 0.60% for RYLD.

Which has better risk-adjusted returns?

RYLD currently has the higher Sharpe Ratio (2.17 vs 2.14), 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.