MLPD vs. XRMI

Last updated Jun 24, 2026

MLPD (Global X MLP & Energy Infrastructure Covered Call ETF) and XRMI (Global X S&P 500 Risk Managed Income ETF) are both Derivative Income funds from Global X - MLPD tracks the Cboe MLPX ATM BuyWrite Index while XRMI tracks the Cboe S&P 500 Risk Managed Income Index. Both are passively managed. Over the past year, MLPD returned 15.13% vs 9.03% for XRMI. At a 0.18 correlation, their price movements are largely independent. Both charge a 0.60% expense ratio.

Performance

MLPD vs. XRMI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X MLP & Energy Infrastructure Covered Call ETF (MLPD) 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, MLPD achieves a 5.90% return, which is significantly higher than XRMI's 1.66% return.

MLPD

• 1D: 0.42%
• 1M: -0.92%
• YTD: 5.90%
• 6M: 6.34%
• 1Y: 15.13%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XRMI

• 1D: -0.52%
• 1M: 0.39%
• YTD: 1.66%
• 6M: 1.20%
• 1Y: 9.03%
• 3Y*: 6.90%
• 5Y*: —
• 10Y*: —

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

MLPD vs. XRMI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MLPD Global X MLP & Energy Infrastructure Covered Call ETF	5.90%	11.77%	9.42%
XRMI Global X S&P 500 Risk Managed Income ETF	1.66%	4.60%	10.43%

Correlation

The correlation between MLPD and XRMI is 0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (All Time) Calculated using the full available price history since May 8, 2024	0.18

MLPD vs. XRMI - Sectors Allocation Comparison

Sectors	MLPD	XRMI
Energy	100.0%	3.1%
Basic Materials	-	1.7%
Communication Services	-	10.3%
Consumer Cyclical	-	9.5%
Consumer Defensive	-	4.6%
Financial Services	-	11.6%
Healthcare	-	8.5%
Industrials	-	7.9%
Real Estate	-	1.8%
Technology	-	39.5%
Utilities	-	2.7%

Return for Risk

MLPD vs. XRMI — Risk / Return Rank

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

MLPD

MLPD Risk / Return Rank: 65
MLPD Sharpe Ratio Rank: 66
MLPD Sortino Ratio Rank: 62
MLPD Omega Ratio Rank: 68
MLPD Calmar Ratio Rank: 68
MLPD Martin Ratio Rank: 60

XRMI

XRMI Risk / Return Rank: 48
XRMI Sharpe Ratio Rank: 51
XRMI Sortino Ratio Rank: 50
XRMI Omega Ratio Rank: 54
XRMI Calmar Ratio Rank: 38
XRMI Martin Ratio Rank: 46

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.

MLPD vs. XRMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X MLP & Energy Infrastructure Covered Call ETF (MLPD) 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.

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.

	MLPD	XRMI	Difference
Sharpe ratio: Return per unit of total volatility	1.99	1.65	+0.35
Sortino ratio: Return per unit of downside risk	2.67	2.30	+0.36
Omega ratio: Gain probability vs. loss probability	1.37	1.32	+0.05
Calmar ratio: Return relative to maximum drawdown	3.16	1.81	+1.36
Martin ratio: Return relative to average drawdown	10.05	7.28	+2.77

MLPD vs. XRMI - Sharpe Ratio Comparison

The current MLPD Sharpe Ratio is 1.99, which is comparable to the XRMI Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of MLPD 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.

Drawdowns

MLPD vs. XRMI - Drawdown Comparison

The maximum MLPD drawdown since its inception was -12.90%, smaller than the maximum XRMI drawdown of -15.31%. Use the drawdown chart below to compare losses from any high point for MLPD and XRMI.

Drawdown Indicators

	MLPD	XRMI	Difference
Max Drawdown Largest peak-to-trough decline	-12.90%	-15.31%	+2.41%
Max Drawdown (1Y) Largest decline over 1 year	-4.80%	-5.02%	+0.22%
Max Drawdown (3Y) Largest decline over 3 years	—	-8.34%	—
Current Drawdown Current decline from peak	-1.11%	-0.52%	-0.59%
Average Drawdown Average peak-to-trough decline	-1.12%	-5.87%	+4.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.51%	1.24%	+0.27%

Volatility

MLPD vs. XRMI - Volatility Comparison

Global X MLP & Energy Infrastructure Covered Call ETF (MLPD) has a higher volatility of 3.38% compared to Global X S&P 500 Risk Managed Income ETF (XRMI) at 1.71%. This indicates that MLPD'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

	MLPD	XRMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.38%	1.71%	+1.67%
Volatility (6M) Calculated over the trailing 6-month period	5.53%	4.44%	+1.09%
Volatility (1Y) Calculated over the trailing 1-year period	7.65%	5.52%	+2.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.35%	6.91%	+4.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.35%	6.91%	+4.44%

MLPD vs. XRMI - Expense Ratio Comparison

Both MLPD and XRMI have an expense ratio of 0.60%.

Dividends

MLPD vs. XRMI - Dividend Comparison

MLPD's dividend yield for the trailing twelve months is around 13.48%, more than XRMI's 12.73% yield.

Position	TTM	2025	2024	2023	2022	2021
MLPD Global X MLP & Energy Infrastructure Covered Call ETF	13.48%	13.45%	6.68%	0.00%	0.00%	0.00%
XRMI Global X S&P 500 Risk Managed Income ETF	12.73%	12.35%	11.86%	12.62%	12.84%	2.93%

Frequently Asked Questions

Can I hold both MLPD and XRMI in my portfolio?

MLPD and XRMI have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MLPD or XRMI?

MLPD has higher volatility (3.38%) compared to XRMI (1.71%). In terms of maximum drawdown, MLPD dropped -12.90% vs XRMI's -15.31%.

Which ETF is better, MLPD or XRMI?

On 1-year performance, MLPD leads with 15.13% vs 9.03% for XRMI. Both ETFs have the same 0.60% expense ratio. On volatility, XRMI has been the lower-risk option at 1.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MLPD or XRMI?

Over the 1-year period, MLPD has performed better with a 15.13% return vs 9.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MLPD or XRMI?

MLPD and XRMI have the same expense ratio: 0.60% per year.

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

MLPD has the higher dividend yield at 13.48%, compared with 12.73% for XRMI.

What is the main difference between MLPD and XRMI?

MLPD tracks Cboe MLPX ATM BuyWrite Index, while XRMI tracks Cboe S&P 500 Risk Managed Income Index.

Which has better risk-adjusted returns?

MLPD currently has the higher Sharpe Ratio (1.99 vs 1.65), 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.