TEST vs. XRMI
TEST (YieldMax TSLA Performance & Distribution Target 25 ETF) and XRMI (Global X S&P 500 Risk Managed Income ETF) are both Derivative Income funds. TEST is actively managed, while XRMI is passively managed. A 0.56 correlation means they provide meaningful diversification when combined. TEST charges 1.01%/yr vs 0.60%/yr for XRMI.
Performance
TEST vs. XRMI - Performance Comparison
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Returns By Period
In the year-to-date period, TEST achieves a -6.62% return, which is significantly lower than XRMI's 3.42% return.
TEST
- 1D
- -0.70%
- 1M
- -1.77%
- 6M
- -5.23%
- YTD
- -6.62%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XRMI
- 1D
- -0.03%
- 1M
- 1.27%
- 6M
- 2.67%
- YTD
- 3.42%
- 1Y
- 9.91%
- 3Y*
- 6.85%
- 5Y*
- —
- 10Y*
- —
TEST vs. XRMI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TEST YieldMax TSLA Performance & Distribution Target 25 ETF | -6.62% | 8.46% |
XRMI Global X S&P 500 Risk Managed Income ETF | 3.42% | 2.53% |
Correlation
The correlation between TEST and XRMI is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 18, 2025 | 0.56 |
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Return for Risk
TEST vs. XRMI — Risk / Return Rank
TEST
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
XRMI
TEST vs. XRMI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax TSLA Performance & Distribution Target 25 ETF (TEST) and Global X S&P 500 Risk Managed Income ETF (XRMI). 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.
| TEST | XRMI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.35 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.98 | — |
| Martin ratioReturn relative to average drawdown | — | 7.99 | — |
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Drawdowns
TEST vs. XRMI - Drawdown Comparison
The maximum TEST drawdown since its inception was -23.35%, which is greater than XRMI's maximum drawdown of -15.31%. Use the drawdown chart below to compare losses from any high point for TEST and XRMI.
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Drawdown Indicators
| TEST | XRMI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.35% | -15.31% | -8.04% |
Max Drawdown (1Y)Largest decline over 1 year | — | -5.02% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -8.34% | — |
Current DrawdownCurrent decline from peak | -12.75% | -0.03% | -12.72% |
Average DrawdownAverage peak-to-trough decline | -10.61% | -5.80% | -4.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.24% | — |
Volatility
TEST vs. XRMI - Volatility Comparison
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Volatility by Period
| TEST | XRMI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.10% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 4.41% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 34.74% | 5.54% | +29.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.74% | 6.87% | +27.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.74% | 6.87% | +27.87% |
TEST vs. XRMI - Expense Ratio Comparison
TEST has a 1.01% expense ratio, which is higher than XRMI's 0.60% expense ratio.
Dividends
TEST vs. XRMI - Dividend Comparison
TEST's dividend yield for the trailing twelve months is around 17.54%, more than XRMI's 12.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
TEST YieldMax TSLA Performance & Distribution Target 25 ETF | 17.54% | 2.50% | 0.00% | 0.00% | 0.00% | 0.00% |
XRMI Global X S&P 500 Risk Managed Income ETF | 12.51% | 12.35% | 11.86% | 12.62% | 12.84% | 2.93% |
Frequently Asked Questions
TEST and XRMI have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XRMI is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XRMI is cheaper with a 0.60% expense ratio, compared with 1.01% for TEST.
TEST has the higher dividend yield at 17.54%, compared with 12.51% for XRMI.
They also come from different issuers: YieldMax and Global X. Their fees differ too: 1.01% for TEST and 0.60% for XRMI.
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