PAYH vs. XRMI

Last updated Jun 21, 2026

PAYH (TrueShares S&P Autocallable High Income ETF) and XRMI (Global X S&P 500 Risk Managed Income ETF) are both Derivative Income funds. PAYH is actively managed, while XRMI is passively managed. At a 0.33 correlation, their price movements are largely independent. PAYH charges 0.74%/yr vs 0.60%/yr for XRMI.

Performance

PAYH vs. XRMI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TrueShares S&P Autocallable High Income ETF (PAYH) 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, PAYH achieves a 7.77% return, which is significantly higher than XRMI's 2.19% return.

PAYH

• 1D: 0.93%
• 1M: -1.23%
• YTD: 7.77%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

XRMI

• 1D: 0.09%
• 1M: 0.92%
• YTD: 2.19%
• 6M: 2.05%
• 1Y: 10.09%
• 3Y*: 7.08%
• 5Y*: —
• 10Y*: —

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

PAYH vs. XRMI - Yearly Performance Comparison

	2026 (YTD)	2025
PAYH TrueShares S&P Autocallable High Income ETF	7.77%	-0.73%
XRMI Global X S&P 500 Risk Managed Income ETF	2.19%	-0.17%

Correlation

The correlation between PAYH and XRMI is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 30, 2025	0.33

Return for Risk

PAYH vs. XRMI — Risk / Return Rank

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

PAYH

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

XRMI

XRMI Risk / Return Rank: 53
XRMI Sharpe Ratio Rank: 56
XRMI Sortino Ratio Rank: 56
XRMI Omega Ratio Rank: 61
XRMI Calmar Ratio Rank: 42
XRMI Martin Ratio Rank: 49

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.

PAYH vs. XRMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrueShares S&P Autocallable High Income ETF (PAYH) 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.

	PAYH	XRMI	Difference
Sharpe ratio: Return per unit of total volatility	—	1.85	—
Sortino ratio: Return per unit of downside risk	—	2.58	—
Omega ratio: Gain probability vs. loss probability	—	1.36	—
Calmar ratio: Return relative to maximum drawdown	—	2.02	—
Martin ratio: Return relative to average drawdown	—	8.14	—

Drawdowns

PAYH vs. XRMI - Drawdown Comparison

The maximum PAYH drawdown since its inception was -16.33%, which is greater than XRMI's maximum drawdown of -15.31%. Use the drawdown chart below to compare losses from any high point for PAYH and XRMI.

Drawdown Indicators

	PAYH	XRMI	Difference
Max Drawdown Largest peak-to-trough decline	-16.33%	-15.31%	-1.02%
Max Drawdown (1Y) Largest decline over 1 year	—	-5.02%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-8.34%	—
Current Drawdown Current decline from peak	-1.82%	0.00%	-1.82%
Average Drawdown Average peak-to-trough decline	-2.71%	-5.88%	+3.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.24%	—

Volatility

Volatility by Period

	PAYH	XRMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.61%	—
Volatility (6M) Calculated over the trailing 6-month period	—	4.41%	—
Volatility (1Y) Calculated over the trailing 1-year period	22.89%	5.50%	+17.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.89%	6.91%	+15.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.89%	6.91%	+15.98%

PAYH vs. XRMI - Expense Ratio Comparison

PAYH has a 0.74% expense ratio, which is higher than XRMI's 0.60% expense ratio.

Dividends

PAYH vs. XRMI - Dividend Comparison

PAYH's dividend yield for the trailing twelve months is around 6.51%, less than XRMI's 13.71% yield.

Position	TTM	2025	2024	2023	2022	2021
PAYH TrueShares S&P Autocallable High Income ETF	6.51%	0.00%	0.00%	0.00%	0.00%	0.00%
XRMI Global X S&P 500 Risk Managed Income ETF	13.71%	12.35%	11.86%	12.62%	12.84%	2.93%

Frequently Asked Questions

Can I hold both PAYH and XRMI in my portfolio?

PAYH and XRMI have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PAYH or XRMI?

On fees, XRMI is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PAYH or XRMI?

XRMI is cheaper with a 0.60% expense ratio, compared with 0.74% for PAYH.

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

XRMI has the higher dividend yield at 13.71%, compared with 6.51% for PAYH.

What is the main difference between PAYH and XRMI?

They also come from different issuers: TrueShares and Global X. Their fees differ too: 0.74% for PAYH and 0.60% for XRMI.