ULTI vs. RYLD

Last updated Aug 5, 2026

ULTI (REX IncomeMax Option Strategy ETF) and RYLD (Global X Russell 2000 Covered Call ETF) are both Derivative Income funds. ULTI is actively managed, while RYLD is passively managed. Their 0.64 correlation means they have sometimes moved together and sometimes differently. ULTI charges 1.25%/yr vs 0.60%/yr for RYLD.

Performance

ULTI vs. RYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in REX IncomeMax Option Strategy ETF (ULTI) and Global X Russell 2000 Covered Call ETF (RYLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ULTI achieves a -12.35% return, which is significantly lower than RYLD's 14.18% return.

ULTI

• 1D: 3.80%
• 1M: -18.69%
• 6M: -23.16%
• YTD: -12.35%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

RYLD

• 1D: 0.62%
• 1M: 2.90%
• 6M: 11.01%
• YTD: 14.18%
• 1Y: 24.71%
• 3Y*: 8.92%
• 5Y*: 3.40%
• 10Y*: —
• ALL TIME*: 6.04%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
RYLD Global X Russell 2000 Covered Call ETF	$10.56M	$9.60M	$9.13M
ULTI REX IncomeMax Option Strategy ETF	$651.44K	$766.06K	$1.11M

ULTI vs. RYLD - Yearly Performance Comparison

	2026 (YTD)	2025
ULTI REX IncomeMax Option Strategy ETF	-12.35%	-38.67%
RYLD Global X Russell 2000 Covered Call ETF	14.18%	1.56%

Correlation

The correlation between ULTI and RYLD is 0.64, 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 Oct 31, 2025	0.64

Return for Risk

ULTI vs. RYLD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ULTI

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

RYLD

RYLD Risk / Return Rank: 90
RYLD Sharpe Ratio Rank: 89
RYLD Sortino Ratio Rank: 89
RYLD Omega Ratio Rank: 93
RYLD Calmar Ratio Rank: 88
RYLD Martin Ratio Rank: 91

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ULTI vs. RYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for REX IncomeMax Option Strategy ETF (ULTI) and Global X Russell 2000 Covered Call ETF (RYLD). 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.

	ULTI	RYLD	Difference
Sharpe ratio: Return per unit of total volatility	—	2.38	—
Sortino ratio: Return per unit of downside risk	—	3.34	—
Omega ratio: Gain probability vs. loss probability	—	1.50	—
Calmar ratio: Return relative to maximum drawdown	—	3.94	—
Martin ratio: Return relative to average drawdown	—	16.16	—

Drawdowns

ULTI vs. RYLD - Drawdown Comparison

The maximum ULTI drawdown since its inception was -54.23%, which is greater than RYLD's maximum drawdown of -41.53%. Use the drawdown chart below to compare losses from any high point for ULTI and RYLD.

Drawdown Indicators

	ULTI	RYLD	Difference
Max Drawdown Largest peak-to-trough decline	-54.23%	-41.53%	-12.70%
Max Drawdown (1Y) Largest decline over 1 year	—	-6.29%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-19.05%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-21.33%	—
Current Drawdown Current decline from peak	-46.25%	0.00%	-46.25%
Average Drawdown Average peak-to-trough decline	-29.84%	-8.64%	-21.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.53%	—

Volatility

Volatility by Period

	ULTI	RYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.34%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.72%	—
Volatility (1Y) Calculated over the trailing 1-year period	61.64%	10.57%	+51.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	61.64%	13.98%	+47.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	61.64%	17.04%	+44.60%

ULTI vs. RYLD - Expense Ratio Comparison

ULTI has a 1.25% expense ratio, which is higher than RYLD's 0.60% expense ratio.

Dividends

ULTI vs. RYLD - Dividend Comparison

ULTI's dividend yield for the trailing twelve months is around 94.80%, more than RYLD's 11.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
RYLD Global X Russell 2000 Covered Call ETF	11.43%	12.00%	12.03%	12.64%	13.49%	12.35%	10.76%	6.43%
ULTI REX IncomeMax Option Strategy ETF	94.80%	14.96%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ULTI and RYLD in my portfolio?

ULTI and RYLD have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ULTI or RYLD?

On fees, RYLD is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ULTI or RYLD?

RYLD is cheaper with a 0.60% expense ratio, compared with 1.25% for ULTI.

Which ETF pays a higher dividend yield, ULTI or RYLD?

ULTI has the higher dividend yield at 94.80%, compared with 11.43% for RYLD.

What is the main difference between ULTI and RYLD?

They also come from different issuers: REX Shares and Global X. Their fees differ too: 1.25% for ULTI and 0.60% for RYLD.