JPO vs. XLRI

Last updated Jul 14, 2026

JPO (YieldMax JPM Option Income Strategy ETF) and XLRI (State Street Real Estate Select Sector SPDR Premium Income ETF) are both exchange-traded funds - JPO is a Options Trading fund actively managed by Tidal, while XLRI is a Derivative Income fund actively managed by State Street. Both are actively managed. At a 0.30 correlation, their price movements are largely independent. JPO charges 1.19%/yr vs 0.35%/yr for XLRI.

Performance

JPO vs. XLRI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax JPM Option Income Strategy ETF (JPO) and State Street Real Estate Select Sector SPDR Premium Income ETF (XLRI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JPO achieves a 4.39% return, which is significantly lower than XLRI's 7.28% return.

JPO

• 1D: 0.01%
• 1M: 4.75%
• 6M: 3.95%
• YTD: 4.39%
• 1Y: 15.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XLRI

• 1D: 0.45%
• 1M: -0.01%
• 6M: 6.59%
• YTD: 7.28%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JPO vs. XLRI - Yearly Performance Comparison

	2026 (YTD)	2025
JPO YieldMax JPM Option Income Strategy ETF	4.39%	7.06%
XLRI State Street Real Estate Select Sector SPDR Premium Income ETF	7.28%	-0.57%

Correlation

The correlation between JPO and XLRI is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 30, 2025	0.30

Return for Risk

JPO vs. XLRI — Risk / Return Rank

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

JPO

JPO Risk / Return Rank: 26
JPO Sharpe Ratio Rank: 28
JPO Sortino Ratio Rank: 25
JPO Omega Ratio Rank: 26
JPO Calmar Ratio Rank: 28
JPO Martin Ratio Rank: 25

XLRI

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

JPO vs. XLRI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax JPM Option Income Strategy ETF (JPO) and State Street Real Estate Select Sector SPDR Premium Income ETF (XLRI). 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.

	JPO	XLRI	Difference
Sharpe ratio: Return per unit of total volatility	0.82	—	—
Sortino ratio: Return per unit of downside risk	1.17	—	—
Omega ratio: Gain probability vs. loss probability	1.15	—	—
Calmar ratio: Return relative to maximum drawdown	1.09	—	—
Martin ratio: Return relative to average drawdown	2.70	—	—

Drawdowns

JPO vs. XLRI - Drawdown Comparison

The maximum JPO drawdown since its inception was -24.80%, which is greater than XLRI's maximum drawdown of -7.12%. Use the drawdown chart below to compare losses from any high point for JPO and XLRI.

Drawdown Indicators

	JPO	XLRI	Difference
Max Drawdown Largest peak-to-trough decline	-24.80%	-7.12%	-17.68%
Max Drawdown (1Y) Largest decline over 1 year	-14.24%	—	—
Current Drawdown Current decline from peak	-0.93%	-0.51%	-0.42%
Average Drawdown Average peak-to-trough decline	-4.49%	-1.61%	-2.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.74%	—	—

Volatility

Volatility by Period

	JPO	XLRI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.15%	—	—
Volatility (6M) Calculated over the trailing 6-month period	14.94%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	19.05%	11.21%	+7.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.07%	11.21%	+7.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.07%	11.21%	+7.86%

JPO vs. XLRI - Expense Ratio Comparison

JPO has a 1.19% expense ratio, which is higher than XLRI's 0.35% expense ratio.

Dividends

JPO vs. XLRI - Dividend Comparison

JPO's dividend yield for the trailing twelve months is around 34.15%, more than XLRI's 13.67% yield.

Position	TTM	2025	2024	2023
JPO YieldMax JPM Option Income Strategy ETF	34.15%	34.13%	25.15%	4.84%
XLRI State Street Real Estate Select Sector SPDR Premium Income ETF	13.67%	6.85%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JPO and XLRI in my portfolio?

JPO and XLRI have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JPO or XLRI?

On fees, XLRI is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JPO or XLRI?

XLRI is cheaper with a 0.35% expense ratio, compared with 1.19% for JPO.

Which ETF pays a higher dividend yield, JPO or XLRI?

JPO has the higher dividend yield at 34.15%, compared with 13.67% for XLRI.

What is the main difference between JPO and XLRI?

JPO is categorized as Options Trading, while XLRI is Derivative Income. They also come from different issuers: Tidal and State Street. Their fees differ too: 1.19% for JPO and 0.35% for XLRI.