KYLD vs. ZHDG
KYLD (Kurv High Income ETF) and ZHDG (ZEGA Buy and Hedge ETF) are both Derivative Income funds. Both are actively managed. A 0.69 correlation means they provide meaningful diversification when combined. KYLD charges 1.00%/yr vs 0.98%/yr for ZHDG.
Performance
KYLD vs. ZHDG - Performance Comparison
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Returns By Period
In the year-to-date period, KYLD achieves a 18.37% return, which is significantly higher than ZHDG's 5.12% return.
KYLD
- 1D
- 0.00%
- 1M
- 10.94%
- YTD
- 18.37%
- 6M
- 13.94%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZHDG
- 1D
- -0.60%
- 1M
- 4.65%
- YTD
- 5.12%
- 6M
- 5.49%
- 1Y
- 18.31%
- 3Y*
- 14.68%
- 5Y*
- —
- 10Y*
- —
KYLD vs. ZHDG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
KYLD Kurv High Income ETF | 18.37% | -10.91% |
ZHDG ZEGA Buy and Hedge ETF | 5.12% | -0.26% |
Correlation
The correlation between KYLD and ZHDG is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 3, 2025 | 0.69 |
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Return for Risk
KYLD vs. ZHDG — Risk / Return Rank
KYLD
ZHDG
KYLD vs. ZHDG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Kurv High Income ETF (KYLD) and ZEGA Buy and Hedge ETF (ZHDG). 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| KYLD | ZHDG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 1.79 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | 0.51 | -0.22 |
Drawdowns
KYLD vs. ZHDG - Drawdown Comparison
The maximum KYLD drawdown since its inception was -20.69%, smaller than the maximum ZHDG drawdown of -23.27%. Use the drawdown chart below to compare losses from any high point for KYLD and ZHDG.
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Drawdown Indicators
| KYLD | ZHDG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.69% | -23.27% | +2.58% |
Max Drawdown (1Y)Largest decline over 1 year | — | -8.56% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -11.63% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.60% | +0.60% |
Average DrawdownAverage peak-to-trough decline | -8.57% | -8.16% | -0.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.05% | — |
Volatility
KYLD vs. ZHDG - Volatility Comparison
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Volatility by Period
| KYLD | ZHDG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 2.80% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 8.06% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 32.84% | 10.27% | +22.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.84% | 11.75% | +21.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.84% | 11.75% | +21.09% |
KYLD vs. ZHDG - Expense Ratio Comparison
KYLD has a 1.00% expense ratio, which is higher than ZHDG's 0.98% expense ratio.
Dividends
KYLD vs. ZHDG - Dividend Comparison
KYLD's dividend yield for the trailing twelve months is around 17.05%, more than ZHDG's 2.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
KYLD Kurv High Income ETF | 17.05% | 6.14% | 0.00% | 0.00% | 0.00% | 0.00% |
ZHDG ZEGA Buy and Hedge ETF | 2.44% | 2.57% | 2.59% | 1.52% | 3.58% | 1.33% |
Frequently Asked Questions
KYLD and ZHDG have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZHDG is cheaper at 0.98% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZHDG is cheaper with a 0.98% expense ratio, compared with 1.00% for KYLD.
KYLD has the higher dividend yield at 17.05%, compared with 2.44% for ZHDG.
They also come from different issuers: Kurv and ZEGA. Their fees differ too: 1.00% for KYLD and 0.98% for ZHDG.
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