XLBI vs. BUYW

Last updated Jul 24, 2026

XLBI (State Street Materials Select Sector SPDR Premium Income ETF) and BUYW (Main Buywrite ETF) are both Derivative Income funds. Both are actively managed. At a 0.34 correlation, their price movements are largely independent. XLBI charges 0.35%/yr vs 1.29%/yr for BUYW.

Performance

XLBI vs. BUYW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Materials Select Sector SPDR Premium Income ETF (XLBI) and Main Buywrite ETF (BUYW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XLBI achieves a 6.64% return, which is significantly higher than BUYW's 4.78% return.

XLBI

• 1D: -0.79%
• 1M: -0.53%
• 6M: 2.93%
• YTD: 6.64%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

BUYW

• 1D: -0.07%
• 1M: 0.99%
• 6M: 4.47%
• YTD: 4.78%
• 1Y: 9.27%
• 3Y*: 8.72%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 9.97%

*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)
BUYW Main Buywrite ETF	$4.63M	$4.45M	$4.81M
XLBI State Street Materials Select Sector SPDR Premium Income ETF	$113.99K	$122.71K	$145.29K

XLBI vs. BUYW - Yearly Performance Comparison

	2026 (YTD)	2025
XLBI State Street Materials Select Sector SPDR Premium Income ETF	6.64%	2.25%
BUYW Main Buywrite ETF	4.78%	3.77%

Correlation

The correlation between XLBI and BUYW is 0.34, 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 30, 2025	0.35

XLBI vs. BUYW - Sectors Allocation Comparison

Sectors	XLBI	BUYW
Financial Services	100.7%	15.0%
Basic Materials	-	1.0%
Communication Services	-	6.5%
Consumer Cyclical	-	6.0%
Consumer Defensive	-	3.1%
Energy	-	12.4%
Healthcare	-	13.8%
Industrials	-	4.6%
Real Estate	-	1.0%
Technology	-	25.9%
Utilities	-	10.9%

Return for Risk

XLBI vs. BUYW — Risk / Return Rank

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

XLBI

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

BUYW

BUYW Risk / Return Rank: 85
BUYW Sharpe Ratio Rank: 79
BUYW Sortino Ratio Rank: 83
BUYW Omega Ratio Rank: 83
BUYW Calmar Ratio Rank: 86
BUYW Martin Ratio Rank: 94

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.

XLBI vs. BUYW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Materials Select Sector SPDR Premium Income ETF (XLBI) and Main Buywrite ETF (BUYW). 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.

	XLBI	BUYW	Difference
Sharpe ratio: Return per unit of total volatility	—	1.92	—
Sortino ratio: Return per unit of downside risk	—	2.86	—
Omega ratio: Gain probability vs. loss probability	—	1.37	—
Calmar ratio: Return relative to maximum drawdown	—	3.59	—
Martin ratio: Return relative to average drawdown	—	19.15	—

Drawdowns

XLBI vs. BUYW - Drawdown Comparison

The maximum XLBI drawdown since its inception was -10.62%, which is greater than BUYW's maximum drawdown of -9.36%. Use the drawdown chart below to compare losses from any high point for XLBI and BUYW.

Drawdown Indicators

	XLBI	BUYW	Difference
Max Drawdown Largest peak-to-trough decline	-10.62%	-9.36%	-1.26%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.59%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-9.36%	—
Current Drawdown Current decline from peak	-2.93%	-0.07%	-2.86%
Average Drawdown Average peak-to-trough decline	-2.12%	-0.59%	-1.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.49%	—

Volatility

Volatility by Period

	XLBI	BUYW	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.31%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.91%	—
Volatility (1Y) Calculated over the trailing 1-year period	13.81%	4.85%	+8.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.81%	8.36%	+5.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.81%	8.36%	+5.45%

XLBI vs. BUYW - Expense Ratio Comparison

XLBI has a 0.35% expense ratio, which is lower than BUYW's 1.29% expense ratio.

Dividends

XLBI vs. BUYW - Dividend Comparison

XLBI's dividend yield for the trailing twelve months is around 15.00%, more than BUYW's 5.88% yield.

Position	TTM	2025	2024	2023	2022
BUYW Main Buywrite ETF	5.88%	5.89%	5.93%	5.95%	0.50%
XLBI State Street Materials Select Sector SPDR Premium Income ETF	15.00%	7.71%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XLBI and BUYW in my portfolio?

XLBI and BUYW have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XLBI or BUYW?

On fees, XLBI is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XLBI or BUYW?

XLBI is cheaper with a 0.35% expense ratio, compared with 1.29% for BUYW.

Which ETF pays a higher dividend yield, XLBI or BUYW?

XLBI has the higher dividend yield at 15.00%, compared with 5.88% for BUYW.

What is the main difference between XLBI and BUYW?

They also come from different issuers: State Street and Main Funds. Their fees differ too: 0.35% for XLBI and 1.29% for BUYW.