SIXH vs. XTR

Last updated Aug 4, 2026

SIXH (6 Meridian Hedged Equity-Index Option Strategy ETF) and XTR (Global X S&P 500 Tail Risk ETF) are both Equity Hedged funds. SIXH is actively managed, while XTR is passively managed. Over the past 3 years, SIXH returned 13.11%/yr vs 16.92%/yr for XTR. Their 0.37 correlation means their historical movements had little consistent relationship. SIXH charges 0.87%/yr vs 0.25%/yr for XTR.

Performance

SIXH vs. XTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in 6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH) and Global X S&P 500 Tail Risk ETF (XTR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SIXH achieves a 11.60% return, which is significantly higher than XTR's 8.70% return.

SIXH

• 1D: -0.19%
• 1M: 1.06%
• 6M: 6.10%
• YTD: 11.60%
• 1Y: 15.22%
• 3Y*: 13.11%
• 5Y*: 9.52%
• 10Y*: —
• ALL TIME*: 11.19%

XTR

• 1D: 1.51%
• 1M: 1.31%
• 6M: 6.79%
• YTD: 8.70%
• 1Y: 18.36%
• 3Y*: 16.92%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 9.51%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SIXH 6 Meridian Hedged Equity-Index Option Strategy ETF	$1.56M	$1.08M	$613.75K
XTR Global X S&P 500 Tail Risk ETF	$34.22K	$56.38K	$63.76K

SIXH vs. XTR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SIXH 6 Meridian Hedged Equity-Index Option Strategy ETF	11.60%	9.47%	12.06%	4.93%	6.90%	0.23%
XTR Global X S&P 500 Tail Risk ETF	8.70%	13.66%	21.85%	21.16%	-17.67%	4.25%

Correlation

The correlation between SIXH and XTR is 0.05, 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.	0.05
Correlation (3Y) Balances recent behavior with more history.	0.22
Correlation (All Time) Calculated using the full available price history since Aug 26, 2021	0.37

Over the past year, the correlation between SIXH and XTR has dropped to 0.05 - well below their long-term average of 0.37, suggesting their price drivers have been diverging.

Return for Risk

SIXH vs. XTR — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SIXH

SIXH Risk / Return Rank: 80
SIXH Sharpe Ratio Rank: 80
SIXH Sortino Ratio Rank: 87
SIXH Omega Ratio Rank: 78
SIXH Calmar Ratio Rank: 86
SIXH Martin Ratio Rank: 69

XTR

XTR Risk / Return Rank: 64
XTR Sharpe Ratio Rank: 66
XTR Sortino Ratio Rank: 65
XTR Omega Ratio Rank: 62
XTR Calmar Ratio Rank: 59
XTR Martin Ratio Rank: 68

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SIXH vs. XTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH) and Global X S&P 500 Tail Risk ETF (XTR). 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.

	SIXH	XTR	Difference
Sharpe ratio: Return per unit of total volatility	1.94	1.58	+0.36
Sortino ratio: Return per unit of downside risk	3.04	2.22	+0.81
Omega ratio: Gain probability vs. loss probability	1.34	1.28	+0.07
Calmar ratio: Return relative to maximum drawdown	3.50	2.17	+1.33
Martin ratio: Return relative to average drawdown	8.88	8.48	+0.39

SIXH vs. XTR - Sharpe Ratio Comparison

The current SIXH Sharpe Ratio is 1.94, which is comparable to the XTR Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of SIXH and XTR, 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

SIXH vs. XTR - Drawdown Comparison

The maximum SIXH drawdown since its inception was -11.68%, smaller than the maximum XTR drawdown of -20.83%. Use the drawdown chart below to compare losses from any high point for SIXH and XTR.

Drawdown Indicators

	SIXH	XTR	Difference
Max Drawdown Largest peak-to-trough decline	-11.68%	-20.83%	+9.15%
Max Drawdown (1Y) Largest decline over 1 year	-4.36%	-8.51%	+4.15%
Max Drawdown (3Y) Largest decline over 3 years	-9.10%	-14.35%	+5.25%
Max Drawdown (5Y) Largest decline over 5 years	-11.68%	—	—
Current Drawdown Current decline from peak	-1.82%	-0.61%	-1.21%
Average Drawdown Average peak-to-trough decline	-1.82%	-5.82%	+4.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.72%	2.17%	-0.45%

Volatility

SIXH vs. XTR - Volatility Comparison

The current volatility for 6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH) is 2.40%, while Global X S&P 500 Tail Risk ETF (XTR) has a volatility of 3.45%. This indicates that SIXH experiences smaller price fluctuations and is considered to be less risky than XTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SIXH	XTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.40%	3.45%	-1.05%
Volatility (6M) Calculated over the trailing 6-month period	6.23%	9.25%	-3.02%
Volatility (1Y) Calculated over the trailing 1-year period	7.89%	11.68%	-3.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.39%	13.79%	-3.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.09%	13.79%	-3.70%

SIXH vs. XTR - Expense Ratio Comparison

SIXH has a 0.87% expense ratio, which is higher than XTR's 0.25% expense ratio.

Dividends

SIXH vs. XTR - Dividend Comparison

SIXH's dividend yield for the trailing twelve months is around 1.83%, less than XTR's 16.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
SIXH 6 Meridian Hedged Equity-Index Option Strategy ETF	1.83%	2.23%	1.55%	2.04%	2.06%	1.65%	1.10%
XTR Global X S&P 500 Tail Risk ETF	16.37%	17.82%	20.89%	1.09%	1.08%	2.32%	0.00%

Frequently Asked Questions

Can I hold both SIXH and XTR in my portfolio?

SIXH and XTR have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SIXH or XTR?

XTR has higher volatility (3.45%) compared to SIXH (2.40%). In terms of maximum drawdown, SIXH dropped -11.68% vs XTR's -20.83%.

Which ETF is better, SIXH or XTR?

On 3-year performance, XTR leads with 16.92% vs 13.11% for SIXH. On fees, XTR is cheaper at 0.25% per year. On volatility, SIXH has been the lower-risk option at 2.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SIXH or XTR?

Over the 3-year period, XTR has performed better with a 16.92% return vs 13.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SIXH or XTR?

XTR is cheaper with a 0.25% expense ratio, compared with 0.87% for SIXH.

Which ETF pays a higher dividend yield, SIXH or XTR?

XTR has the higher dividend yield at 16.37%, compared with 1.83% for SIXH.

What is the main difference between SIXH and XTR?

They also come from different issuers: Exchange Traded Concepts and Global X. Their fees differ too: 0.87% for SIXH and 0.25% for XTR.

Which has better risk-adjusted returns?

SIXH currently has the higher Sharpe Ratio (1.94 vs 1.58), 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.