OXLC vs. XYLD

Last updated Jun 20, 2026

OXLC (Oxford Lane Capital Corp.) is a stock, while XYLD (Global X S&P 500 Covered Call ETF) is Derivative Income fund tracking the Cboe S&P 500 BuyWrite Index. Over the past 10 years, OXLC returned 6.30%/yr vs 8.33%/yr for XYLD. At a 0.28 correlation, their price movements are largely independent.

Performance

OXLC vs. XYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Oxford Lane Capital Corp. (OXLC) and Global X S&P 500 Covered Call ETF (XYLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OXLC achieves a -13.51% return, which is significantly lower than XYLD's 5.52% return. Over the past 10 years, OXLC has underperformed XYLD with an annualized return of 6.30%, while XYLD has yielded a comparatively higher 8.33% annualized return.

OXLC

• 1D: -0.60%
• 1M: 9.80%
• YTD: -13.51%
• 6M: -9.10%
• 1Y: -27.96%
• 3Y*: -3.67%
• 5Y*: -4.81%
• 10Y*: 6.30%

XYLD

• 1D: 0.27%
• 1M: 1.69%
• YTD: 5.52%
• 6M: 5.95%
• 1Y: 17.23%
• 3Y*: 11.48%
• 5Y*: 7.73%
• 10Y*: 8.33%

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

OXLC vs. XYLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OXLC Oxford Lane Capital Corp.	-13.51%	-24.38%	24.58%	16.52%	-24.15%	59.91%	-15.79%	-0.98%	12.86%	13.47%
XYLD Global X S&P 500 Covered Call ETF	5.52%	8.02%	19.49%	11.10%	-12.05%	19.59%	-0.56%	21.41%	-6.09%	16.49%

Correlation

The correlation between OXLC and XYLD is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.29
Correlation (5Y) Calculated over the trailing 5-year period	0.31
Correlation (10Y) Calculated over the trailing 10-year period	0.29
Correlation (All Time) Calculated using the full available price history since Jun 24, 2013	0.28

The correlation between OXLC and XYLD shifts across timeframes, from 0.21 (1 year) to 0.31 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

OXLC vs. XYLD — Risk / Return Rank

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

OXLC

OXLC Risk / Return Rank: 17
OXLC Sharpe Ratio Rank: 14
OXLC Sortino Ratio Rank: 14
OXLC Omega Ratio Rank: 14
OXLC Calmar Ratio Rank: 22
OXLC Martin Ratio Rank: 21

XYLD

XYLD Risk / Return Rank: 83
XYLD Sharpe Ratio Rank: 84
XYLD Sortino Ratio Rank: 86
XYLD Omega Ratio Rank: 92
XYLD Calmar Ratio Rank: 69
XYLD Martin Ratio Rank: 86

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.

OXLC vs. XYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Oxford Lane Capital Corp. (OXLC) and Global X S&P 500 Covered Call ETF (XYLD). 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.

	OXLC	XYLD	Difference
Sharpe ratio: Return per unit of total volatility	-0.64	2.54	-3.18
Sortino ratio: Return per unit of downside risk	-0.82	3.62	-4.44
Omega ratio: Gain probability vs. loss probability	0.89	1.59	-0.70
Calmar ratio: Return relative to maximum drawdown	-0.55	3.27	-3.82
Martin ratio: Return relative to average drawdown	-1.00	17.16	-18.16

OXLC vs. XYLD - Sharpe Ratio Comparison

The current OXLC Sharpe Ratio is -0.64, which is lower than the XYLD Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of OXLC and XYLD, 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

OXLC vs. XYLD - Drawdown Comparison

The maximum OXLC drawdown since its inception was -74.58%, which is greater than XYLD's maximum drawdown of -33.46%. Use the drawdown chart below to compare losses from any high point for OXLC and XYLD.

Drawdown Indicators

	OXLC	XYLD	Difference
Max Drawdown Largest peak-to-trough decline	-74.58%	-33.46%	-41.12%
Max Drawdown (1Y) Largest decline over 1 year	-51.38%	-5.29%	-46.09%
Max Drawdown (3Y) Largest decline over 3 years	-57.17%	-15.53%	-41.64%
Max Drawdown (5Y) Largest decline over 5 years	-57.17%	-18.66%	-38.51%
Max Drawdown (10Y) Largest decline over 10 years	-74.58%	-33.46%	-41.12%
Current Drawdown Current decline from peak	-38.05%	0.00%	-38.05%
Average Drawdown Average peak-to-trough decline	-14.04%	-3.71%	-10.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.07%	1.01%	+27.06%

Volatility

OXLC vs. XYLD - Volatility Comparison

Oxford Lane Capital Corp. (OXLC) has a higher volatility of 25.66% compared to Global X S&P 500 Covered Call ETF (XYLD) at 2.21%. This indicates that OXLC's price experiences larger fluctuations and is considered to be riskier than XYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OXLC	XYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.66%	2.21%	+23.45%
Volatility (6M) Calculated over the trailing 6-month period	37.06%	5.76%	+31.30%
Volatility (1Y) Calculated over the trailing 1-year period	44.16%	6.80%	+37.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.72%	11.26%	+17.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.36%	14.22%	+29.14%

Dividends

OXLC vs. XYLD - Dividend Comparison

OXLC's dividend yield for the trailing twelve months is around 76.60%, more than XYLD's 10.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OXLC Oxford Lane Capital Corp.	76.60%	35.86%	20.12%	18.83%	17.75%	10.51%	22.46%	19.85%	16.70%	17.91%	22.84%	24.10%
XYLD Global X S&P 500 Covered Call ETF	10.46%	10.51%	11.54%	10.51%	13.43%	9.07%	7.93%	5.76%	7.12%	5.18%	3.23%	4.65%

Frequently Asked Questions

Can I hold both OXLC and XYLD in my portfolio?

OXLC and XYLD have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OXLC or XYLD?

OXLC has higher volatility (25.66%) compared to XYLD (2.21%). In terms of maximum drawdown, OXLC dropped -74.58% vs XYLD's -33.46%.

Which has better risk-adjusted returns?

XYLD currently has the higher Sharpe Ratio (2.54 vs -0.64), 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.