RATE.TO vs. XYLD
RATE.TO (Arrow EC Income Advantage Alternative Fund) and XYLD (Global X S&P 500 Covered Call ETF) are both exchange-traded funds - RATE.TO is a Investment Grade Bonds fund actively managed by Arrow Capital Management Inc., while XYLD is a Derivative Income fund tracking the Cboe S&P 500 BuyWrite Index. RATE.TO is actively managed, while XYLD is passively managed. Over the past 5 years, RATE.TO returned 4.83%/yr vs 10.35%/yr for XYLD. Their -0.02 correlation means they have often moved in opposite directions in the past. RATE.TO charges 2.01%/yr vs 0.60%/yr for XYLD.
Performance
RATE.TO vs. XYLD - Performance Comparison
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Different Trading Currencies
RATE.TO is traded in CAD, while XYLD is traded in USD. To make them comparable, the XYLD values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, RATE.TO achieves a 1.38% return, which is significantly lower than XYLD's 11.16% return.
RATE.TO
- 1D
- -0.19%
- 1M
- 0.00%
- 6M
- 1.13%
- YTD
- 1.38%
- 1Y
- 2.80%
- 3Y*
- 5.22%
- 5Y*
- 4.83%
- 10Y*
- —
- ALL TIME*
- 4.08%
XYLD
- 1D
- 0.55%
- 1M
- 0.89%
- 6M
- 9.95%
- YTD
- 11.16%
- 1Y
- 20.88%
- 3Y*
- 13.94%
- 5Y*
- 10.35%
- 10Y*
- 9.07%
- ALL TIME*
- 10.84%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$63.23K | CA$64.17K | CA$66.35K | |
| CA$47.07M | CA$48.72M | CA$45.47M |
RATE.TO vs. XYLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RATE.TO Arrow EC Income Advantage Alternative Fund | 1.38% | 4.60% | 5.59% | 10.12% | 2.34% | 2.46% | 3.49% | 6.56% | -0.84% | -0.05% |
XYLD Global X S&P 500 Covered Call ETF | 11.16% | 3.08% | 29.61% | 8.46% | -6.48% | 19.53% | -2.92% | 16.40% | 1.80% | -1.15% |
Correlation
The correlation between RATE.TO and XYLD is -0.03, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.03 |
Correlation (3Y) Balances recent behavior with more history. | -0.05 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.04 |
Correlation (All Time) Calculated using the full available price history since Dec 4, 2017 | -0.02 |
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Return for Risk
RATE.TO vs. XYLD — Risk / Return Rank
RATE.TO
XYLD
RATE.TO vs. XYLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Arrow EC Income Advantage Alternative Fund (RATE.TO) 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.
| RATE.TO | XYLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.37 | ||
| Sortino ratioReturn per unit of downside risk | -2.01 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.50 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 3.56 | 4.92 | -1.35 |
| Martin ratioReturn relative to average drawdown | 11.80 | 19.17 | -7.37 |
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Drawdowns
RATE.TO vs. XYLD - Drawdown Comparison
The maximum RATE.TO drawdown since its inception was -14.01%, smaller than the maximum XYLD drawdown of -27.60%. Use the drawdown chart below to compare losses from any high point for RATE.TO and XYLD.
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Drawdown Indicators
| RATE.TO | XYLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.01% | -27.60% | +13.59% |
Max Drawdown (1Y)Largest decline over 1 year | -0.80% | -4.27% | +3.47% |
Max Drawdown (3Y)Largest decline over 3 years | -2.78% | -16.88% | +14.10% |
Max Drawdown (5Y)Largest decline over 5 years | -3.38% | -16.88% | +13.50% |
Max Drawdown (10Y)Largest decline over 10 years | — | -27.60% | — |
Current DrawdownCurrent decline from peak | -0.23% | 0.00% | -0.23% |
Average DrawdownAverage peak-to-trough decline | -0.84% | -3.61% | +2.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.24% | 1.09% | -0.85% |
Volatility
RATE.TO vs. XYLD - Volatility Comparison
The current volatility for Arrow EC Income Advantage Alternative Fund (RATE.TO) is 0.66%, while Global X S&P 500 Covered Call ETF (XYLD) has a volatility of 2.05%. This indicates that RATE.TO experiences smaller price fluctuations and is considered to be less risky than XYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RATE.TO | XYLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.66% | 2.05% | -1.39% |
Volatility (6M)Calculated over the trailing 6-month period | 1.58% | 6.64% | -5.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.25% | 7.98% | -5.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.05% | 12.69% | -8.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.73% | 15.47% | -9.74% |
RATE.TO vs. XYLD - Expense Ratio Comparison
RATE.TO has a 2.01% expense ratio, which is higher than XYLD's 0.60% expense ratio.
Dividends
RATE.TO vs. XYLD - Dividend Comparison
RATE.TO's dividend yield for the trailing twelve months is around 4.66%, less than XYLD's 10.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RATE.TO Arrow EC Income Advantage Alternative Fund | 4.66% | 4.60% | 4.69% | 4.74% | 4.11% | 3.52% | 2.98% | 2.99% | 2.32% | 0.00% | 0.00% | 0.00% |
XYLD Global X S&P 500 Covered Call ETF | 10.47% | 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
RATE.TO and XYLD have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XYLD is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XYLD is cheaper with a 0.60% expense ratio, compared with 2.01% for RATE.TO.
RATE.TO is categorized as Investment Grade Bonds, while XYLD is Derivative Income. They also come from different issuers: Arrow Capital Management Inc. and Global X. Their fees differ too: 2.01% for RATE.TO and 0.60% for XYLD.
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