XOEF vs. XRMI

Last updated Jul 21, 2026

XOEF (iShares S&P 500 ex S&P 100 ETF) and XRMI (Global X S&P 500 Risk Managed Income ETF) are both exchange-traded funds - XOEF is a S&P 500 fund tracking the S&P 500 Ex-S&P 100 Select Index, while XRMI is a Derivative Income fund tracking the Cboe S&P 500 Risk Managed Income Index. Both are passively managed. Over the past year, XOEF returned 18.97% vs 9.94% for XRMI. A 0.60 correlation means they provide meaningful diversification when combined. XOEF charges 0.20%/yr vs 0.60%/yr for XRMI.

Performance

XOEF vs. XRMI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares S&P 500 ex S&P 100 ETF (XOEF) and Global X S&P 500 Risk Managed Income ETF (XRMI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XOEF achieves a 13.96% return, which is significantly higher than XRMI's 3.16% return.

XOEF

• 1D: -0.44%
• 1M: -1.24%
• 6M: 8.68%
• YTD: 13.96%
• 1Y: 18.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 18.24%

XRMI

• 1D: -0.18%
• 1M: 1.04%
• 6M: 2.28%
• YTD: 3.16%
• 1Y: 9.94%
• 3Y*: 6.84%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 2.68%

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

XOEF vs. XRMI - Yearly Performance Comparison

	2026 (YTD)	2025
XOEF iShares S&P 500 ex S&P 100 ETF	13.96%	4.27%
XRMI Global X S&P 500 Risk Managed Income ETF	3.16%	6.33%

Correlation

The correlation between XOEF and XRMI is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.61
Correlation (All Time) Calculated using the full available price history since Jul 9, 2025	0.60

The correlation between XOEF and XRMI has been stable across timeframes, ranging from 0.60 to 0.61 - a consistent structural relationship.

Return for Risk

XOEF vs. XRMI — Risk / Return Rank

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

XOEF

XOEF Risk / Return Rank: 63
XOEF Sharpe Ratio Rank: 60
XOEF Sortino Ratio Rank: 61
XOEF Omega Ratio Rank: 55
XOEF Calmar Ratio Rank: 67
XOEF Martin Ratio Rank: 72

XRMI

XRMI Risk / Return Rank: 69
XRMI Sharpe Ratio Rank: 75
XRMI Sortino Ratio Rank: 75
XRMI Omega Ratio Rank: 79
XRMI Calmar Ratio Rank: 52
XRMI Martin Ratio Rank: 62

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.

XOEF vs. XRMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 ex S&P 100 ETF (XOEF) and Global X S&P 500 Risk Managed Income ETF (XRMI). 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.

	XOEF	XRMI	Difference
Sharpe ratio: Return per unit of total volatility	1.48	1.80	-0.32
Sortino ratio: Return per unit of downside risk	2.15	2.53	-0.38
Omega ratio: Gain probability vs. loss probability	1.26	1.35	-0.09
Calmar ratio: Return relative to maximum drawdown	2.49	1.99	+0.50
Martin ratio: Return relative to average drawdown	9.52	8.02	+1.50

XOEF vs. XRMI - Sharpe Ratio Comparison

The current XOEF Sharpe Ratio is 1.48, which is comparable to the XRMI Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of XOEF and XRMI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

XOEF vs. XRMI - Drawdown Comparison

The maximum XOEF drawdown since its inception was -7.66%, smaller than the maximum XRMI drawdown of -15.31%. Use the drawdown chart below to compare losses from any high point for XOEF and XRMI.

Drawdown Indicators

	XOEF	XRMI	Difference
Max Drawdown Largest peak-to-trough decline	-7.66%	-15.31%	+7.65%
Max Drawdown (1Y) Largest decline over 1 year	-7.66%	-5.02%	-2.64%
Max Drawdown (3Y) Largest decline over 3 years	—	-8.34%	—
Current Drawdown Current decline from peak	-2.87%	-0.28%	-2.59%
Average Drawdown Average peak-to-trough decline	-1.27%	-5.79%	+4.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.00%	1.24%	+0.76%

Volatility

XOEF vs. XRMI - Volatility Comparison

iShares S&P 500 ex S&P 100 ETF (XOEF) has a higher volatility of 3.32% compared to Global X S&P 500 Risk Managed Income ETF (XRMI) at 1.12%. This indicates that XOEF's price experiences larger fluctuations and is considered to be riskier than XRMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XOEF	XRMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.32%	1.12%	+2.20%
Volatility (6M) Calculated over the trailing 6-month period	9.95%	4.41%	+5.54%
Volatility (1Y) Calculated over the trailing 1-year period	12.86%	5.54%	+7.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.76%	6.87%	+5.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.76%	6.87%	+5.89%

XOEF vs. XRMI - Expense Ratio Comparison

XOEF has a 0.20% expense ratio, which is lower than XRMI's 0.60% expense ratio.

Dividends

XOEF vs. XRMI - Dividend Comparison

XOEF's dividend yield for the trailing twelve months is around 1.06%, less than XRMI's 13.68% yield.

Position	TTM	2025	2024	2023	2022	2021
XOEF iShares S&P 500 ex S&P 100 ETF	1.06%	0.63%	0.00%	0.00%	0.00%	0.00%
XRMI Global X S&P 500 Risk Managed Income ETF	13.68%	12.35%	11.86%	12.62%	12.84%	2.93%

Frequently Asked Questions

Can I hold both XOEF and XRMI in my portfolio?

XOEF and XRMI have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XOEF or XRMI?

XOEF has higher volatility (3.32%) compared to XRMI (1.12%). In terms of maximum drawdown, XOEF dropped -7.66% vs XRMI's -15.31%.

Which ETF is better, XOEF or XRMI?

On 1-year performance, XOEF leads with 18.97% vs 9.94% for XRMI. On fees, XOEF is cheaper at 0.20% per year. On volatility, XRMI has been the lower-risk option at 1.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XOEF or XRMI?

Over the 1-year period, XOEF has performed better with a 18.97% return vs 9.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XOEF or XRMI?

XOEF is cheaper with a 0.20% expense ratio, compared with 0.60% for XRMI.

Which ETF pays a higher dividend yield, XOEF or XRMI?

XRMI has the higher dividend yield at 13.68%, compared with 1.06% for XOEF.

What is the main difference between XOEF and XRMI?

XOEF is categorized as S&P 500, while XRMI is Derivative Income. XOEF tracks S&P 500 Ex-S&P 100 Select Index, while XRMI tracks Cboe S&P 500 Risk Managed Income Index. They also come from different issuers: iShares and Global X. Their fees differ too: 0.20% for XOEF and 0.60% for XRMI.

Which has better risk-adjusted returns?

XRMI currently has the higher Sharpe Ratio (1.80 vs 1.48), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.