KHPI vs. XRMI

Last updated Apr 1, 2026

Compare and contrast key facts about Kensington Hedged Premium Income ETF (KHPI) and Global X S&P 500 Risk Managed Income ETF (XRMI).

KHPI and XRMI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. KHPI is an actively managed fund by Kensington Asset Management. It was launched on Sep 4, 2024. XRMI is a passively managed fund by Global X that tracks the performance of the Cboe S&P 500 Risk Managed Income Index. It was launched on Aug 25, 2021.

Performance

KHPI vs. XRMI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Kensington Hedged Premium Income ETF (KHPI) and Global X S&P 500 Risk Managed Income ETF (XRMI). The values are adjusted to include any dividend payments, if applicable.

KHPI vs. XRMI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
KHPI Kensington Hedged Premium Income ETF	-3.49%	11.14%	4.29%
XRMI Global X S&P 500 Risk Managed Income ETF	-2.52%	4.60%	6.49%

Returns By Period

In the year-to-date period, KHPI achieves a -3.49% return, which is significantly lower than XRMI's -2.52% return.

KHPI

• 1D: 1.47%
• 1M: -4.68%
• YTD: -3.49%
• 6M: -0.79%
• 1Y: 10.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XRMI

• 1D: 0.81%
• 1M: -4.04%
• YTD: -2.52%
• 6M: 1.58%
• 1Y: 3.59%
• 3Y*: 6.04%
• 5Y*: —
• 10Y*: —

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

KHPI vs. XRMI - Expense Ratio Comparison

KHPI has a 0.96% expense ratio, which is higher than XRMI's 0.60% expense ratio.

KHPI

Kensington Hedged Premium Income ETF

XRMI

Global X S&P 500 Risk Managed Income ETF

Return for Risk

KHPI vs. XRMI — Risk / Return Rank

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

KHPI

KHPI Risk / Return Rank: 61
KHPI Sharpe Ratio Rank: 54
KHPI Sortino Ratio Rank: 55
KHPI Omega Ratio Rank: 60
KHPI Calmar Ratio Rank: 64
KHPI Martin Ratio Rank: 71

XRMI

XRMI Risk / Return Rank: 30
XRMI Sharpe Ratio Rank: 30
XRMI Sortino Ratio Rank: 27
XRMI Omega Ratio Rank: 28
XRMI Calmar Ratio Rank: 33
XRMI Martin Ratio Rank: 33

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.

KHPI vs. XRMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Kensington Hedged Premium Income ETF (KHPI) and Global X S&P 500 Risk Managed Income ETF (XRMI). 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.

	KHPI	XRMI	Difference
Sharpe ratio Return per unit of total volatility	0.97	0.52	+0.44
Sortino ratio Return per unit of downside risk	1.46	0.76	+0.70
Omega ratio Gain probability vs. loss probability	1.22	1.11	+0.11
Calmar ratio Return relative to maximum drawdown	1.64	0.79	+0.85
Martin ratio Return relative to average drawdown	7.34	2.73	+4.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KHPI vs. XRMI - Sharpe Ratio Comparison

The current KHPI Sharpe Ratio is 0.97, which is higher than the XRMI Sharpe Ratio of 0.52. The chart below compares the historical Sharpe Ratios of KHPI and XRMI, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	KHPI	XRMI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.97	0.52	+0.44
Sharpe Ratio (All Time) Calculated using the full available price history	0.76	0.24	+0.52

Correlation

The correlation between KHPI and XRMI is 0.58, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

KHPI vs. XRMI - Dividend Comparison

KHPI's dividend yield for the trailing twelve months is around 9.44%, less than XRMI's 12.83% yield.

	TTM	2025	2024	2023	2022	2021
KHPI Kensington Hedged Premium Income ETF	9.44%	8.90%	3.01%	0.00%	0.00%	0.00%
XRMI Global X S&P 500 Risk Managed Income ETF	12.83%	12.35%	11.86%	12.62%	12.84%	2.93%

Drawdowns

KHPI vs. XRMI - Drawdown Comparison

The maximum KHPI drawdown since its inception was -10.58%, smaller than the maximum XRMI drawdown of -15.31%. Use the drawdown chart below to compare losses from any high point for KHPI and XRMI.

Drawdown Indicators

	KHPI	XRMI	Difference
Max Drawdown Largest peak-to-trough decline	-10.58%	-15.31%	+4.73%
Max Drawdown (1Y) Largest decline over 1 year	-6.55%	-5.02%	-1.53%
Current Drawdown Current decline from peak	-5.18%	-4.25%	-0.93%
Average Drawdown Average peak-to-trough decline	-1.27%	-6.10%	+4.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.46%	1.45%	+0.01%

Volatility

KHPI vs. XRMI - Volatility Comparison

Kensington Hedged Premium Income ETF (KHPI) has a higher volatility of 3.18% compared to Global X S&P 500 Risk Managed Income ETF (XRMI) at 2.62%. This indicates that KHPI's price experiences larger fluctuations and is considered to be riskier than XRMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KHPI	XRMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.18%	2.62%	+0.56%
Volatility (6M) Calculated over the trailing 6-month period	5.25%	4.50%	+0.75%
Volatility (1Y) Calculated over the trailing 1-year period	10.96%	6.88%	+4.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.79%	6.99%	+2.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.79%	6.99%	+2.80%