TLTX vs. XYLD

Last updated Jun 23, 2026

TLTX (Global X Treasury Bond Enhanced Income ETF) and XYLD (Global X S&P 500 Covered Call ETF) are both exchange-traded funds - TLTX is a Government Bonds fund actively managed by Global X, while XYLD is a Derivative Income fund tracking the Cboe S&P 500 BuyWrite Index. TLTX is actively managed, while XYLD is passively managed. At a 0.25 correlation, their price movements are largely independent. TLTX charges 0.29%/yr vs 0.60%/yr for XYLD.

Performance

TLTX vs. XYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Treasury Bond Enhanced Income ETF (TLTX) and Global X S&P 500 Covered Call ETF (XYLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TLTX achieves a 2.75% return, which is significantly lower than XYLD's 5.47% return.

TLTX

• 1D: 0.82%
• 1M: 3.70%
• YTD: 2.75%
• 6M: 2.26%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

XYLD

• 1D: -0.05%
• 1M: 1.26%
• YTD: 5.47%
• 6M: 5.58%
• 1Y: 17.60%
• 3Y*: 11.66%
• 5Y*: 7.58%
• 10Y*: 8.46%

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

TLTX vs. XYLD - Yearly Performance Comparison

	2026 (YTD)	2025
TLTX Global X Treasury Bond Enhanced Income ETF	2.75%	6.02%
XYLD Global X S&P 500 Covered Call ETF	5.47%	9.48%

Correlation

The correlation between TLTX and XYLD is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 16, 2025	0.25

Return for Risk

TLTX vs. XYLD — Risk / Return Rank

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

TLTX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

XYLD

XYLD Risk / Return Rank: 84
XYLD Sharpe Ratio Rank: 84
XYLD Sortino Ratio Rank: 86
XYLD Omega Ratio Rank: 92
XYLD Calmar Ratio Rank: 69
XYLD Martin Ratio Rank: 86

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.

TLTX vs. XYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Treasury Bond Enhanced Income ETF (TLTX) 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.

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.

	TLTX	XYLD	Difference
Sharpe ratio: Return per unit of total volatility	—	2.60	—
Sortino ratio: Return per unit of downside risk	—	3.70	—
Omega ratio: Gain probability vs. loss probability	—	1.61	—
Calmar ratio: Return relative to maximum drawdown	—	3.34	—
Martin ratio: Return relative to average drawdown	—	17.53	—

Drawdowns

TLTX vs. XYLD - Drawdown Comparison

The maximum TLTX drawdown since its inception was -6.35%, smaller than the maximum XYLD drawdown of -33.46%. Use the drawdown chart below to compare losses from any high point for TLTX and XYLD.

Drawdown Indicators

	TLTX	XYLD	Difference
Max Drawdown Largest peak-to-trough decline	-6.35%	-33.46%	+27.11%
Max Drawdown (1Y) Largest decline over 1 year	—	-5.29%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-15.53%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-18.66%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.46%	—
Current Drawdown Current decline from peak	-1.05%	-0.05%	-1.00%
Average Drawdown Average peak-to-trough decline	-2.29%	-3.71%	+1.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.01%	—

Volatility

Volatility by Period

	TLTX	XYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.16%	—
Volatility (6M) Calculated over the trailing 6-month period	—	5.76%	—
Volatility (1Y) Calculated over the trailing 1-year period	9.13%	6.80%	+2.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.13%	11.26%	-2.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.13%	14.21%	-5.08%

TLTX vs. XYLD - Expense Ratio Comparison

TLTX has a 0.29% expense ratio, which is lower than XYLD's 0.60% expense ratio.

Dividends

TLTX vs. XYLD - Dividend Comparison

TLTX's dividend yield for the trailing twelve months is around 16.98%, more than XYLD's 11.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TLTX Global X Treasury Bond Enhanced Income ETF	16.98%	7.54%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XYLD Global X S&P 500 Covered Call ETF	11.39%	10.51%	11.54%	10.51%	13.43%	9.07%	7.93%	5.76%	7.12%	5.18%	3.23%	4.65%

Frequently Asked Questions

Can I hold both TLTX and XYLD in my portfolio?

TLTX and XYLD have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TLTX or XYLD?

On fees, TLTX is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TLTX or XYLD?

TLTX is cheaper with a 0.29% expense ratio, compared with 0.60% for XYLD.

Which ETF pays a higher dividend yield, TLTX or XYLD?

TLTX has the higher dividend yield at 16.98%, compared with 11.39% for XYLD.

What is the main difference between TLTX and XYLD?

TLTX is categorized as Government Bonds, while XYLD is Derivative Income. Their fees differ too: 0.29% for TLTX and 0.60% for XYLD.