TOPW vs. XYLD
TOPW (Roundhill Top WeeklyPay ETF) and XYLD (Global X S&P 500 Covered Call ETF) are both Derivative Income funds - TOPW tracks the Solactive Roundhill WeeklyPay Universe Index while XYLD tracks the Cboe S&P 500 BuyWrite Index. Both are passively managed. Their 0.75 correlation means they have sometimes moved together and sometimes differently. TOPW charges 0.99%/yr vs 0.60%/yr for XYLD.
Performance
TOPW vs. XYLD - Performance Comparison
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Returns By Period
In the year-to-date period, TOPW achieves a 0.61% return, which is significantly lower than XYLD's 8.05% return.
TOPW
- 1D
- 2.78%
- 1M
- 2.62%
- 6M
- 3.61%
- YTD
- 0.61%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
XYLD
- 1D
- 0.49%
- 1M
- 1.82%
- 6M
- 6.81%
- YTD
- 8.05%
- 1Y
- 18.90%
- 3Y*
- 11.51%
- 5Y*
- 7.90%
- 10Y*
- 8.34%
- ALL TIME*
- 8.37%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.24M | $2.19M | $2.72M | |
| $36.93M | $37.58M | $32.35M |
TOPW vs. XYLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TOPW Roundhill Top WeeklyPay ETF | 0.61% | -1.33% |
XYLD Global X S&P 500 Covered Call ETF | 8.05% | 8.17% |
Correlation
The correlation between TOPW and XYLD is 0.75, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 4, 2025 | 0.75 |
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Return for Risk
TOPW vs. XYLD — Risk / Return Rank
TOPW
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
XYLD
TOPW vs. XYLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Roundhill Top WeeklyPay ETF (TOPW) 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.
| TOPW | XYLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.56 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 3.40 | — |
| Martin ratioReturn relative to average drawdown | — | 17.69 | — |
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Drawdowns
TOPW vs. XYLD - Drawdown Comparison
The maximum TOPW drawdown since its inception was -29.87%, smaller than the maximum XYLD drawdown of -33.46%. Use the drawdown chart below to compare losses from any high point for TOPW and XYLD.
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Drawdown Indicators
| TOPW | XYLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.87% | -33.46% | +3.59% |
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 DrawdownCurrent decline from peak | -15.94% | 0.00% | -15.94% |
Average DrawdownAverage peak-to-trough decline | -13.53% | -3.68% | -9.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.02% | — |
Volatility
TOPW vs. XYLD - Volatility Comparison
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Volatility by Period
| TOPW | XYLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.92% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 5.97% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 27.68% | 7.13% | +20.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.68% | 11.27% | +16.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.68% | 14.15% | +13.53% |
TOPW vs. XYLD - Expense Ratio Comparison
TOPW has a 0.99% expense ratio, which is higher than XYLD's 0.60% expense ratio.
Dividends
TOPW vs. XYLD - Dividend Comparison
TOPW's dividend yield for the trailing twelve months is around 51.46%, more than XYLD's 10.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TOPW Roundhill Top WeeklyPay ETF | 51.46% | 21.52% | 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 | 10.53% | 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
TOPW and XYLD have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XYLD is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XYLD is cheaper with a 0.60% expense ratio, compared with 0.99% for TOPW.
TOPW has the higher dividend yield at 51.46%, compared with 10.53% for XYLD.
TOPW tracks Solactive Roundhill WeeklyPay Universe Index, while XYLD tracks Cboe S&P 500 BuyWrite Index. They also come from different issuers: Roundhill and Global X. Their fees differ too: 0.99% for TOPW and 0.60% for XYLD.
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