XRMI vs. PBP
Compare and contrast key facts about Global X S&P 500 Risk Managed Income ETF (XRMI) and Invesco S&P 500 BuyWrite ETF (PBP).
XRMI and PBP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XRMI is a passively managed fund by Global X that tracks the performance of the Cboe S&P 500 Risk Managed Income Index. It was launched on Aug 25, 2021. PBP is a passively managed fund by Invesco that tracks the performance of the Cboe S&P 500 BuyWrite Index. It was launched on Dec 20, 2007. Both XRMI and PBP are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
XRMI vs. PBP - Performance Comparison
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XRMI vs. PBP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
XRMI Global X S&P 500 Risk Managed Income ETF | -2.52% | 4.60% | 15.18% | 4.22% | -14.06% | 2.68% |
PBP Invesco S&P 500 BuyWrite ETF | -1.04% | 8.49% | 19.83% | 11.59% | -11.82% | 5.62% |
Returns By Period
In the year-to-date period, XRMI achieves a -2.52% return, which is significantly lower than PBP's -1.04% return.
XRMI
- 1D
- 0.81%
- 1M
- -4.04%
- YTD
- -2.52%
- 6M
- 1.58%
- 1Y
- 3.59%
- 3Y*
- 6.04%
- 5Y*
- —
- 10Y*
- —
PBP
- 1D
- 2.04%
- 1M
- -2.62%
- YTD
- -1.04%
- 6M
- 5.76%
- 1Y
- 11.29%
- 3Y*
- 10.74%
- 5Y*
- 7.48%
- 10Y*
- 6.70%
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XRMI vs. PBP - Expense Ratio Comparison
XRMI has a 0.60% expense ratio, which is higher than PBP's 0.29% expense ratio.
Return for Risk
XRMI vs. PBP — Risk / Return Rank
XRMI
PBP
XRMI vs. PBP - 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 Invesco S&P 500 BuyWrite ETF (PBP). 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.
| XRMI | PBP | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.52 | 0.80 | -0.27 |
Sortino ratioReturn per unit of downside risk | 0.76 | 1.27 | -0.50 |
Omega ratioGain probability vs. loss probability | 1.11 | 1.25 | -0.14 |
Calmar ratioReturn relative to maximum drawdown | 0.79 | 1.12 | -0.33 |
Martin ratioReturn relative to average drawdown | 2.73 | 6.40 | -3.67 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XRMI | PBP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.52 | 0.80 | -0.27 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.63 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.49 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.24 | 0.32 | -0.08 |
Correlation
The correlation between XRMI and PBP is 0.72, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
XRMI vs. PBP - Dividend Comparison
XRMI's dividend yield for the trailing twelve months is around 12.83%, more than PBP's 11.63% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XRMI Global X S&P 500 Risk Managed Income ETF | 12.83% | 12.35% | 11.86% | 12.62% | 12.84% | 2.93% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PBP Invesco S&P 500 BuyWrite ETF | 11.63% | 11.12% | 9.36% | 3.35% | 1.33% | 6.21% | 1.41% | 5.04% | 2.59% | 10.86% | 2.56% | 6.19% |
Drawdowns
XRMI vs. PBP - Drawdown Comparison
The maximum XRMI drawdown since its inception was -15.31%, smaller than the maximum PBP drawdown of -43.43%. Use the drawdown chart below to compare losses from any high point for XRMI and PBP.
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Drawdown Indicators
| XRMI | PBP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.31% | -43.43% | +28.12% |
Max Drawdown (1Y)Largest decline over 1 year | -5.02% | -10.20% | +5.18% |
Max Drawdown (5Y)Largest decline over 5 years | — | -18.61% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.31% | — |
Current DrawdownCurrent decline from peak | -4.25% | -3.29% | -0.96% |
Average DrawdownAverage peak-to-trough decline | -6.10% | -6.75% | +0.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.45% | 1.79% | -0.34% |
Volatility
XRMI vs. PBP - Volatility Comparison
The current volatility for Global X S&P 500 Risk Managed Income ETF (XRMI) is 2.62%, while Invesco S&P 500 BuyWrite ETF (PBP) has a volatility of 4.09%. This indicates that XRMI experiences smaller price fluctuations and is considered to be less risky than PBP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XRMI | PBP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.62% | 4.09% | -1.47% |
Volatility (6M)Calculated over the trailing 6-month period | 4.50% | 5.97% | -1.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.88% | 14.26% | -7.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.99% | 11.95% | -4.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.99% | 13.69% | -6.70% |