XRMI vs. BUYW

Last updated Jul 14, 2026

XRMI (Global X S&P 500 Risk Managed Income ETF) and BUYW (Main Buywrite ETF) are both Derivative Income funds. XRMI is passively managed, while BUYW is actively managed. Over the past 3 years, XRMI returned 6.84%/yr vs 8.66%/yr for BUYW. At a 0.46 correlation, their price movements are largely independent. XRMI charges 0.60%/yr vs 1.29%/yr for BUYW.

Performance

XRMI vs. BUYW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X S&P 500 Risk Managed Income ETF (XRMI) 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, XRMI achieves a 3.15% return, which is significantly lower than BUYW's 4.70% return.

XRMI

• 1D: -0.23%
• 1M: 1.52%
• 6M: 2.46%
• YTD: 3.15%
• 1Y: 9.55%
• 3Y*: 6.84%
• 5Y*: —
• 10Y*: —

BUYW

• 1D: 0.14%
• 1M: 1.34%
• 6M: 4.27%
• YTD: 4.70%
• 1Y: 9.27%
• 3Y*: 8.66%
• 5Y*: —
• 10Y*: —

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

XRMI vs. BUYW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
XRMI Global X S&P 500 Risk Managed Income ETF	3.15%	4.60%	15.18%	4.22%	-3.75%
BUYW Main Buywrite ETF	4.70%	9.08%	9.82%	12.80%	1.94%

Correlation

The correlation between XRMI and BUYW is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (All Time) Calculated using the full available price history since Sep 12, 2022	0.46

XRMI vs. BUYW - Sectors Allocation Comparison

Sectors	XRMI	BUYW
Technology	37.7%	26.6%
Financial Services	12.1%	14.5%
Communication Services	9.9%	16.4%
Consumer Cyclical	9.5%	6.4%
Healthcare	9.3%	13.0%
Industrials	7.9%	4.4%
Consumer Defensive	4.7%	3.0%
Energy	3.0%	12.7%
Utilities	2.7%	1.2%
Basic Materials	1.9%	1.0%
Real Estate	1.9%	0.9%

Return for Risk

XRMI vs. BUYW — Risk / Return Rank

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

XRMI

XRMI Risk / Return Rank: 61
XRMI Sharpe Ratio Rank: 67
XRMI Sortino Ratio Rank: 66
XRMI Omega Ratio Rank: 70
XRMI Calmar Ratio Rank: 48
XRMI Martin Ratio Rank: 56

BUYW

BUYW Risk / Return Rank: 83
BUYW Sharpe Ratio Rank: 76
BUYW Sortino Ratio Rank: 81
BUYW Omega Ratio Rank: 80
BUYW Calmar Ratio Rank: 83
BUYW Martin Ratio Rank: 93

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.

XRMI vs. BUYW - Risk-Adjusted Trends Comparison

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

	XRMI	BUYW	Difference
Sharpe ratio: Return per unit of total volatility	1.73	1.92	-0.19
Sortino ratio: Return per unit of downside risk	2.42	2.86	-0.44
Omega ratio: Gain probability vs. loss probability	1.33	1.37	-0.04
Calmar ratio: Return relative to maximum drawdown	1.91	3.60	-1.68
Martin ratio: Return relative to average drawdown	7.69	19.17	-11.48

XRMI vs. BUYW - Sharpe Ratio Comparison

The current XRMI Sharpe Ratio is 1.73, which is comparable to the BUYW Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of XRMI and BUYW, 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

XRMI vs. BUYW - Drawdown Comparison

The maximum XRMI drawdown since its inception was -15.31%, which is greater than BUYW's maximum drawdown of -9.36%. Use the drawdown chart below to compare losses from any high point for XRMI and BUYW.

Drawdown Indicators

	XRMI	BUYW	Difference
Max Drawdown Largest peak-to-trough decline	-15.31%	-9.36%	-5.95%
Max Drawdown (1Y) Largest decline over 1 year	-5.02%	-2.59%	-2.43%
Max Drawdown (3Y) Largest decline over 3 years	-8.34%	-9.36%	+1.02%
Current Drawdown Current decline from peak	-0.23%	0.00%	-0.23%
Average Drawdown Average peak-to-trough decline	-5.81%	-0.59%	-5.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.24%	0.48%	+0.76%

Volatility

XRMI vs. BUYW - Volatility Comparison

Global X S&P 500 Risk Managed Income ETF (XRMI) and Main Buywrite ETF (BUYW) have volatilities of 1.41% and 1.35%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XRMI	BUYW	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.41%	1.35%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	4.41%	3.90%	+0.51%
Volatility (1Y) Calculated over the trailing 1-year period	5.57%	4.86%	+0.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.88%	8.39%	-1.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.88%	8.39%	-1.51%

XRMI vs. BUYW - Expense Ratio Comparison

XRMI has a 0.60% expense ratio, which is lower than BUYW's 1.29% expense ratio.

Dividends

XRMI vs. BUYW - Dividend Comparison

XRMI's dividend yield for the trailing twelve months is around 12.54%, more than BUYW's 5.88% yield.

Position	TTM	2025	2024	2023	2022	2021
BUYW Main Buywrite ETF	5.88%	5.89%	5.93%	5.95%	0.50%	0.00%
XRMI Global X S&P 500 Risk Managed Income ETF	12.54%	12.35%	11.86%	12.62%	12.84%	2.93%

Frequently Asked Questions

Can I hold both XRMI and BUYW in my portfolio?

XRMI and BUYW have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XRMI or BUYW?

XRMI has higher volatility (1.41%) compared to BUYW (1.35%). In terms of maximum drawdown, XRMI dropped -15.31% vs BUYW's -9.36%.

Which ETF is better, XRMI or BUYW?

On 3-year performance, BUYW leads with 8.66% vs 6.84% for XRMI. On fees, XRMI is cheaper at 0.60% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XRMI or BUYW?

Over the 3-year period, BUYW has performed better with a 8.66% return vs 6.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XRMI or BUYW?

XRMI is cheaper with a 0.60% expense ratio, compared with 1.29% for BUYW.

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

XRMI has the higher dividend yield at 12.54%, compared with 5.88% for BUYW.

What is the main difference between XRMI and BUYW?

They also come from different issuers: Global X and Main Funds. Their fees differ too: 0.60% for XRMI and 1.29% for BUYW.

Which has better risk-adjusted returns?

BUYW currently has the higher Sharpe Ratio (1.92 vs 1.73), 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.