SPY vs. XYLD
Compare and contrast key facts about SPDR S&P 500 ETF (SPY) and Global X S&P 500 Covered Call ETF (XYLD).
SPY and XYLD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993. XYLD is a passively managed fund by Global X that tracks the performance of the CBOE S&P 500 2% OTM BuyWrite Index. It was launched on Jun 24, 2013. Both SPY and XYLD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SPY or XYLD.
Performance
SPY vs. XYLD - Performance Comparison
Returns By Period
In the year-to-date period, SPY achieves a 26.08% return, which is significantly higher than XYLD's 16.07% return. Over the past 10 years, SPY has outperformed XYLD with an annualized return of 13.10%, while XYLD has yielded a comparatively lower 6.77% annualized return.
SPY
26.08%
1.77%
13.59%
32.24%
15.62%
13.10%
XYLD
16.07%
1.89%
10.34%
18.91%
6.67%
6.77%
Key characteristics
| SPY | XYLD | |
|---|---|---|
| Sharpe Ratio | 2.70 | 2.73 |
| Sortino Ratio | 3.60 | 3.70 |
| Omega Ratio | 1.50 | 1.72 |
| Calmar Ratio | 3.90 | 3.10 |
| Martin Ratio | 17.52 | 23.90 |
| Ulcer Index | 1.87% | 0.79% |
| Daily Std Dev | 12.14% | 6.90% |
| Max Drawdown | -55.19% | -33.46% |
| Current Drawdown | -0.85% | 0.00% |
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SPY vs. XYLD - Expense Ratio Comparison
SPY has a 0.09% expense ratio, which is lower than XYLD's 0.60% expense ratio.
Correlation
The correlation between SPY and XYLD is 0.81, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Risk-Adjusted Performance
SPY vs. XYLD - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P 500 ETF (SPY) 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.
Dividends
SPY vs. XYLD - Dividend Comparison
SPY's dividend yield for the trailing twelve months is around 1.18%, less than XYLD's 9.41% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPY SPDR S&P 500 ETF | 1.18% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
XYLD Global X S&P 500 Covered Call ETF | 9.41% | 10.51% | 13.44% | 9.08% | 7.93% | 5.76% | 7.12% | 4.67% | 3.24% | 4.65% | 4.15% | 2.49% |
Drawdowns
SPY vs. XYLD - Drawdown Comparison
The maximum SPY drawdown since its inception was -55.19%, which is greater than XYLD's maximum drawdown of -33.46%. Use the drawdown chart below to compare losses from any high point for SPY and XYLD. For additional features, visit the drawdowns tool.
Volatility
SPY vs. XYLD - Volatility Comparison
SPDR S&P 500 ETF (SPY) has a higher volatility of 3.98% compared to Global X S&P 500 Covered Call ETF (XYLD) at 2.41%. This indicates that SPY's price experiences larger fluctuations and is considered to be riskier than XYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.