RYLD vs. BUYW

Last updated Jun 24, 2026

RYLD (Global X Russell 2000 Covered Call ETF) and BUYW (Main Buywrite ETF) are both Derivative Income funds. RYLD is passively managed, while BUYW is actively managed. Over the past 3 years, RYLD returned 8.72%/yr vs 8.68%/yr for BUYW. A 0.55 correlation means they provide meaningful diversification when combined. RYLD charges 0.60%/yr vs 1.29%/yr for BUYW.

Performance

RYLD vs. BUYW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Russell 2000 Covered Call ETF (RYLD) and Main Buywrite ETF (BUYW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RYLD achieves a 9.51% return, which is significantly higher than BUYW's 3.75% return.

RYLD

• 1D: -0.50%
• 1M: 2.12%
• YTD: 9.51%
• 6M: 8.37%
• 1Y: 20.74%
• 3Y*: 8.72%
• 5Y*: 2.45%
• 10Y*: —

BUYW

• 1D: 0.35%
• 1M: 0.35%
• YTD: 3.75%
• 6M: 4.11%
• 1Y: 9.91%
• 3Y*: 8.68%
• 5Y*: —
• 10Y*: —

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

RYLD vs. BUYW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
RYLD Global X Russell 2000 Covered Call ETF	9.51%	5.65%	10.13%	0.27%	-4.08%
BUYW Main Buywrite ETF	3.75%	9.08%	9.82%	12.80%	1.94%

Correlation

The correlation between RYLD and BUYW is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (All Time) Calculated using the full available price history since Sep 12, 2022	0.55

The correlation between RYLD and BUYW shifts across timeframes, from 0.43 (1 year) to 0.55 (all time), reflecting how their relationship changes across market environments.

RYLD vs. BUYW - Sectors Allocation Comparison

Sectors	RYLD	BUYW
Technology	19.0%	26.6%
Industrials	18.0%	4.4%
Healthcare	16.3%	13.0%
Financial Services	15.5%	14.5%
Consumer Cyclical	8.0%	6.4%
Real Estate	5.9%	0.9%
Energy	5.4%	12.7%
Basic Materials	4.7%	1.0%
Utilities	2.8%	1.2%
Communication Services	2.4%	16.4%
Consumer Defensive	2.3%	3.0%

Return for Risk

RYLD vs. BUYW — Risk / Return Rank

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

RYLD

RYLD Risk / Return Rank: 68
RYLD Sharpe Ratio Rank: 62
RYLD Sortino Ratio Rank: 62
RYLD Omega Ratio Rank: 73
RYLD Calmar Ratio Rank: 69
RYLD Martin Ratio Rank: 74

BUYW

BUYW Risk / Return Rank: 77
BUYW Sharpe Ratio Rank: 66
BUYW Sortino Ratio Rank: 74
BUYW Omega Ratio Rank: 74
BUYW Calmar Ratio Rank: 78
BUYW Martin Ratio Rank: 91

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.

RYLD vs. BUYW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Russell 2000 Covered Call ETF (RYLD) and Main Buywrite ETF (BUYW). 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.

	RYLD	BUYW	Difference
Sharpe ratio: Return per unit of total volatility	1.96	2.06	-0.10
Sortino ratio: Return per unit of downside risk	2.76	3.13	-0.37
Omega ratio: Gain probability vs. loss probability	1.41	1.41	0.00
Calmar ratio: Return relative to maximum drawdown	3.31	3.84	-0.53
Martin ratio: Return relative to average drawdown	13.37	20.54	-7.17

RYLD vs. BUYW - Sharpe Ratio Comparison

The current RYLD Sharpe Ratio is 1.96, which is comparable to the BUYW Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of RYLD and BUYW, 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

RYLD vs. BUYW - Drawdown Comparison

The maximum RYLD drawdown since its inception was -41.53%, which is greater than BUYW's maximum drawdown of -9.36%. Use the drawdown chart below to compare losses from any high point for RYLD and BUYW.

Drawdown Indicators

	RYLD	BUYW	Difference
Max Drawdown Largest peak-to-trough decline	-41.53%	-9.36%	-32.17%
Max Drawdown (1Y) Largest decline over 1 year	-6.29%	-2.59%	-3.70%
Max Drawdown (3Y) Largest decline over 3 years	-19.05%	-9.36%	-9.69%
Max Drawdown (5Y) Largest decline over 5 years	-21.33%	—	—
Current Drawdown Current decline from peak	-0.50%	0.00%	-0.50%
Average Drawdown Average peak-to-trough decline	-8.78%	-0.60%	-8.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.55%	0.48%	+1.07%

Volatility

RYLD vs. BUYW - Volatility Comparison

Global X Russell 2000 Covered Call ETF (RYLD) has a higher volatility of 2.00% compared to Main Buywrite ETF (BUYW) at 1.21%. This indicates that RYLD's price experiences larger fluctuations and is considered to be riskier than BUYW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RYLD	BUYW	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.00%	1.21%	+0.79%
Volatility (6M) Calculated over the trailing 6-month period	7.80%	3.84%	+3.96%
Volatility (1Y) Calculated over the trailing 1-year period	10.66%	4.84%	+5.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.05%	8.43%	+5.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.15%	8.43%	+8.72%

RYLD vs. BUYW - Expense Ratio Comparison

RYLD has a 0.60% expense ratio, which is lower than BUYW's 1.29% expense ratio.

Dividends

RYLD vs. BUYW - Dividend Comparison

RYLD's dividend yield for the trailing twelve months is around 11.73%, more than BUYW's 5.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BUYW Main Buywrite ETF	5.89%	5.89%	5.93%	5.95%	0.50%	0.00%	0.00%	0.00%
RYLD Global X Russell 2000 Covered Call ETF	11.73%	12.00%	12.03%	12.64%	13.49%	12.35%	10.76%	6.43%

Frequently Asked Questions

Can I hold both RYLD and BUYW in my portfolio?

RYLD and BUYW have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RYLD or BUYW?

RYLD has higher volatility (2.00%) compared to BUYW (1.21%). In terms of maximum drawdown, RYLD dropped -41.53% vs BUYW's -9.36%.

Which ETF is better, RYLD or BUYW?

On 3-year performance, RYLD leads with 8.72% vs 8.68% for BUYW. On fees, RYLD is cheaper at 0.60% per year. On volatility, BUYW has been the lower-risk option at 1.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RYLD or BUYW?

Over the 3-year period, RYLD has performed better with a 8.72% return vs 8.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RYLD or BUYW?

RYLD is cheaper with a 0.60% expense ratio, compared with 1.29% for BUYW.

Which ETF pays a higher dividend yield, RYLD or BUYW?

RYLD has the higher dividend yield at 11.73%, compared with 5.89% for BUYW.

What is the main difference between RYLD and BUYW?

They also come from different issuers: Global X and Main Funds. Their fees differ too: 0.60% for RYLD and 1.29% for BUYW.

Which has better risk-adjusted returns?

BUYW currently has the higher Sharpe Ratio (2.06 vs 1.96), 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.