RYLD vs. ARB
Compare and contrast key facts about Global X Russell 2000 Covered Call ETF (RYLD) and AltShares Merger Arbitrage ETF (ARB).
RYLD and ARB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. RYLD is a passively managed fund by Global X that tracks the performance of the CBOE Russell 2000 BuyWrite Index. It was launched on Apr 17, 2019. ARB is a passively managed fund by Water Island Capital Partners LP that tracks the performance of the Water Island Merger Arbitrage USD Hedged Index. It was launched on May 7, 2020. Both RYLD and ARB are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
RYLD vs. ARB - Performance Comparison
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RYLD vs. ARB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
RYLD Global X Russell 2000 Covered Call ETF | 1.10% | 5.65% | 10.13% | 0.27% | -13.03% | 22.13% | 33.90% |
ARB AltShares Merger Arbitrage ETF | 0.91% | 6.05% | 4.07% | 3.85% | 2.67% | 3.16% | 3.78% |
Returns By Period
In the year-to-date period, RYLD achieves a 1.10% return, which is significantly higher than ARB's 0.91% return.
RYLD
- 1D
- 0.40%
- 1M
- -3.62%
- YTD
- 1.10%
- 6M
- 5.56%
- 1Y
- 12.15%
- 3Y*
- 6.22%
- 5Y*
- 2.30%
- 10Y*
- —
ARB
- 1D
- 0.05%
- 1M
- 0.56%
- YTD
- 0.91%
- 6M
- 1.52%
- 1Y
- 4.55%
- 3Y*
- 5.52%
- 5Y*
- 4.13%
- 10Y*
- —
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RYLD vs. ARB - Expense Ratio Comparison
RYLD has a 0.60% expense ratio, which is lower than ARB's 0.87% expense ratio.
Return for Risk
RYLD vs. ARB — Risk / Return Rank
RYLD
ARB
RYLD vs. ARB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Russell 2000 Covered Call ETF (RYLD) and AltShares Merger Arbitrage ETF (ARB). 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.
| RYLD | ARB | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.74 | 1.64 | -0.90 |
Sortino ratioReturn per unit of downside risk | 1.17 | 2.38 | -1.22 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.33 | -0.13 |
Calmar ratioReturn relative to maximum drawdown | 0.99 | 3.59 | -2.60 |
Martin ratioReturn relative to average drawdown | 4.78 | 17.51 | -12.74 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| RYLD | ARB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.74 | 1.64 | -0.90 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.16 | 0.95 | -0.79 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.26 | 0.95 | -0.68 |
Correlation
The correlation between RYLD and ARB is 0.36, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
RYLD vs. ARB - Dividend Comparison
RYLD's dividend yield for the trailing twelve months is around 12.09%, more than ARB's 0.43% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
RYLD Global X Russell 2000 Covered Call ETF | 12.09% | 12.00% | 12.03% | 12.64% | 13.49% | 12.35% | 10.76% | 6.43% |
ARB AltShares Merger Arbitrage ETF | 0.43% | 0.43% | 1.12% | 0.00% | 4.18% | 0.00% | 2.87% | 0.00% |
Drawdowns
RYLD vs. ARB - Drawdown Comparison
The maximum RYLD drawdown since its inception was -41.53%, which is greater than ARB's maximum drawdown of -5.60%. Use the drawdown chart below to compare losses from any high point for RYLD and ARB.
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Drawdown Indicators
| RYLD | ARB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.53% | -5.60% | -35.93% |
Max Drawdown (1Y)Largest decline over 1 year | -12.33% | -1.20% | -11.13% |
Max Drawdown (5Y)Largest decline over 5 years | -21.33% | -5.60% | -15.73% |
Current DrawdownCurrent decline from peak | -3.92% | 0.00% | -3.92% |
Average DrawdownAverage peak-to-trough decline | -9.04% | -0.96% | -8.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.54% | 0.25% | +2.29% |
Volatility
RYLD vs. ARB - Volatility Comparison
Global X Russell 2000 Covered Call ETF (RYLD) has a higher volatility of 5.22% compared to AltShares Merger Arbitrage ETF (ARB) at 0.86%. This indicates that RYLD's price experiences larger fluctuations and is considered to be riskier than ARB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RYLD | ARB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.22% | 0.86% | +4.36% |
Volatility (6M)Calculated over the trailing 6-month period | 9.09% | 2.01% | +7.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.39% | 2.79% | +13.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.20% | 4.37% | +9.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.38% | 4.41% | +12.97% |