KNGZ vs. XRMI

Last updated Jun 5, 2026

KNGZ (First Trust S&P 500 Diversified Dividend Aristocrats ETF) and XRMI (Global X S&P 500 Risk Managed Income ETF) are both exchange-traded funds - KNGZ is a S&P 500 fund tracking the S&P 500 Sector-Neutral Dividend Aristocrats Index, while XRMI is a Derivative Income fund tracking the Cboe S&P 500 Risk Managed Income Index. Both are passively managed. Over the past 3 years, KNGZ returned 18.11%/yr vs 6.74%/yr for XRMI. A 0.59 correlation means they provide meaningful diversification when combined. KNGZ charges 0.50%/yr vs 0.60%/yr for XRMI.

Performance

KNGZ vs. XRMI - Performance Comparison

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

Returns By Period

In the year-to-date period, KNGZ achieves a 17.00% return, which is significantly higher than XRMI's 1.78% return.

KNGZ

• 1D: 0.27%
• 1M: 7.21%
• YTD: 17.00%
• 6M: 16.85%
• 1Y: 32.10%
• 3Y*: 18.11%
• 5Y*: 9.34%
• 10Y*: —

XRMI

• 1D: 0.03%
• 1M: 1.14%
• YTD: 1.78%
• 6M: 2.56%
• 1Y: 9.53%
• 3Y*: 6.74%
• 5Y*: —
• 10Y*: —

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

KNGZ vs. XRMI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
KNGZ First Trust S&P 500 Diversified Dividend Aristocrats ETF	17.00%	14.27%	11.05%	9.77%	-7.55%	5.44%
XRMI Global X S&P 500 Risk Managed Income ETF	1.78%	4.60%	15.18%	4.22%	-14.06%	2.68%

Correlation

The correlation between KNGZ and XRMI is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (All Time) Calculated using the full available price history since Aug 27, 2021	0.59

The correlation between KNGZ and XRMI shifts across timeframes, from 0.46 (1 year) to 0.59 (all time), reflecting how their relationship changes across market environments.

KNGZ vs. XRMI - Sectors Allocation Comparison

Sectors	KNGZ	XRMI
Financial Services	14.9%	11.8%
Industrials	14.9%	8.3%
Technology	14.9%	35.6%
Consumer Cyclical	11.9%	10.2%
Healthcare	11.9%	8.5%
Consumer Defensive	6.9%	4.9%
Real Estate	5.9%	1.9%
Utilities	5.9%	2.4%
Communication Services	5.0%	11.2%
Energy	4.0%	3.5%
Basic Materials	3.0%	1.8%

Return for Risk

KNGZ vs. XRMI — Risk / Return Rank

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

KNGZ

KNGZ Risk / Return Rank: 71
KNGZ Sharpe Ratio Rank: 74
KNGZ Sortino Ratio Rank: 77
KNGZ Omega Ratio Rank: 71
KNGZ Calmar Ratio Rank: 70
KNGZ Martin Ratio Rank: 64

XRMI

XRMI Risk / Return Rank: 50
XRMI Sharpe Ratio Rank: 53
XRMI Sortino Ratio Rank: 52
XRMI Omega Ratio Rank: 57
XRMI Calmar Ratio Rank: 39
XRMI Martin Ratio Rank: 48

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.

KNGZ vs. XRMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust S&P 500 Diversified Dividend Aristocrats ETF (KNGZ) 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.

	KNGZ	XRMI	Difference
Sharpe ratio: Return per unit of total volatility	2.38	1.79	+0.59
Sortino ratio: Return per unit of downside risk	3.37	2.49	+0.88
Omega ratio: Gain probability vs. loss probability	1.42	1.35	+0.07
Calmar ratio: Return relative to maximum drawdown	3.43	1.91	+1.52
Martin ratio: Return relative to average drawdown	11.53	7.73	+3.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KNGZ vs. XRMI - Sharpe Ratio Comparison

The current KNGZ Sharpe Ratio is 2.38, which is higher than the XRMI Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of KNGZ and XRMI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	KNGZ	XRMI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.38	1.79	+0.59
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	0.37	+0.24

Drawdowns

KNGZ vs. XRMI - Drawdown Comparison

The maximum KNGZ drawdown since its inception was -37.44%, which is greater than XRMI's maximum drawdown of -15.31%. Use the drawdown chart below to compare losses from any high point for KNGZ and XRMI.

Drawdown Indicators

	KNGZ	XRMI	Difference
Max Drawdown Largest peak-to-trough decline	-37.44%	-15.31%	-22.13%
Max Drawdown (1Y) Largest decline over 1 year	-9.41%	-5.02%	-4.39%
Max Drawdown (3Y) Largest decline over 3 years	-19.70%	-8.34%	-11.36%
Max Drawdown (5Y) Largest decline over 5 years	-19.71%	—	—
Current Drawdown Current decline from peak	-0.74%	-0.17%	-0.57%
Average Drawdown Average peak-to-trough decline	-4.87%	-5.93%	+1.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.79%	1.23%	+1.56%

Volatility

KNGZ vs. XRMI - Volatility Comparison

First Trust S&P 500 Diversified Dividend Aristocrats ETF (KNGZ) has a higher volatility of 3.76% compared to Global X S&P 500 Risk Managed Income ETF (XRMI) at 0.86%. This indicates that KNGZ'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

	KNGZ	XRMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.76%	0.86%	+2.90%
Volatility (6M) Calculated over the trailing 6-month period	9.90%	4.21%	+5.69%
Volatility (1Y) Calculated over the trailing 1-year period	13.55%	5.36%	+8.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.12%	6.90%	+9.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.87%	6.90%	+11.97%

KNGZ vs. XRMI - Expense Ratio Comparison

KNGZ has a 0.50% expense ratio, which is lower than XRMI's 0.60% expense ratio.

Dividends

KNGZ vs. XRMI - Dividend Comparison

KNGZ's dividend yield for the trailing twelve months is around 2.32%, less than XRMI's 12.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
KNGZ First Trust S&P 500 Diversified Dividend Aristocrats ETF	2.32%	2.70%	2.55%	3.10%	2.52%	1.95%	2.44%	2.85%	4.09%	1.10%
XRMI Global X S&P 500 Risk Managed Income ETF	12.61%	12.35%	11.86%	12.62%	12.84%	2.93%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both KNGZ and XRMI in my portfolio?

KNGZ and XRMI have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KNGZ or XRMI?

KNGZ has higher volatility (3.76%) compared to XRMI (0.86%). In terms of maximum drawdown, KNGZ dropped -37.44% vs XRMI's -15.31%.

Which ETF is better, KNGZ or XRMI?

On 3-year performance, KNGZ leads with 18.11% vs 6.74% for XRMI. On fees, KNGZ is cheaper at 0.50% per year. On volatility, XRMI has been the lower-risk option at 0.86%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KNGZ or XRMI?

Over the 3-year period, KNGZ has performed better with a 18.11% return vs 6.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KNGZ or XRMI?

KNGZ is cheaper with a 0.50% expense ratio, compared with 0.60% for XRMI.

Which ETF pays a higher dividend yield, KNGZ or XRMI?

XRMI has the higher dividend yield at 12.61%, compared with 2.32% for KNGZ.

What is the main difference between KNGZ and XRMI?

KNGZ is categorized as S&P 500, while XRMI is Derivative Income. KNGZ tracks S&P 500 Sector-Neutral Dividend Aristocrats Index, while XRMI tracks Cboe S&P 500 Risk Managed Income Index. They also come from different issuers: First Trust and Global X. Their fees differ too: 0.50% for KNGZ and 0.60% for XRMI.

Which has better risk-adjusted returns?

KNGZ currently has the higher Sharpe Ratio (2.38 vs 1.79), 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.