TPAY vs. XYLD
TPAY (Roundhill S&P 500 Target 10 Managed Distribution ETF) and XYLD (Global X S&P 500 Covered Call ETF) are both Derivative Income funds. TPAY is actively managed, while XYLD is passively managed. Their correlation of 0.91 means they have usually moved in the same direction. TPAY charges 0.49%/yr vs 0.60%/yr for XYLD.
Performance
TPAY vs. XYLD - Performance Comparison
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Returns By Period
TPAY
- 1D
- 0.86%
- 1M
- 0.34%
- 6M
- —
- YTD
- —
- 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) |
|---|---|---|---|
| $8.91K | $63.35K | $52.42K | |
| $36.93M | $37.58M | $32.35M |
TPAY vs. XYLD - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
TPAY Roundhill S&P 500 Target 10 Managed Distribution ETF | 9.02% |
XYLD Global X S&P 500 Covered Call ETF | 6.92% |
Correlation
The correlation between TPAY and XYLD is 0.91, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Feb 18, 2026 | 0.91 |
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Return for Risk
TPAY vs. XYLD — Risk / Return Rank
TPAY
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
XYLD
TPAY vs. XYLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Roundhill S&P 500 Target 10 Managed Distribution ETF (TPAY) 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.
| TPAY | 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
TPAY vs. XYLD - Drawdown Comparison
The maximum TPAY drawdown since its inception was -8.62%, smaller than the maximum XYLD drawdown of -33.46%. Use the drawdown chart below to compare losses from any high point for TPAY and XYLD.
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Drawdown Indicators
| TPAY | XYLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.62% | -33.46% | +24.84% |
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 | -1.44% | 0.00% | -1.44% |
Average DrawdownAverage peak-to-trough decline | -1.86% | -3.68% | +1.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.02% | — |
Volatility
TPAY vs. XYLD - Volatility Comparison
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Volatility by Period
| TPAY | 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 | 14.25% | 7.13% | +7.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.25% | 11.27% | +2.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.25% | 14.15% | +0.10% |
TPAY vs. XYLD - Expense Ratio Comparison
TPAY has a 0.49% expense ratio, which is lower than XYLD's 0.60% expense ratio.
Dividends
TPAY vs. XYLD - Dividend Comparison
TPAY's dividend yield for the trailing twelve months is around 3.96%, less than XYLD's 10.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TPAY Roundhill S&P 500 Target 10 Managed Distribution ETF | 3.96% | 0.00% | 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
With a correlation of 0.91, TPAY and XYLD move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, TPAY is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TPAY is cheaper with a 0.49% expense ratio, compared with 0.60% for XYLD.
XYLD has the higher dividend yield at 10.53%, compared with 3.96% for TPAY.
They also come from different issuers: Roundhill and Global X. Their fees differ too: 0.49% for TPAY and 0.60% for XYLD.
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