XRMI vs. XSPI

Last updated Jun 4, 2026

XRMI (Global X S&P 500 Risk Managed Income ETF) and XSPI (NEOS Boosted S&P 500 High Income ETF) are both Derivative Income funds - XRMI tracks the Cboe S&P 500 Risk Managed Income Index while XSPI tracks the S&P 500. Both are passively managed. Their correlation of 0.82 suggests significant overlap in exposure. XRMI charges 0.60%/yr vs 0.98%/yr for XSPI.

Performance

XRMI vs. XSPI - 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 NEOS Boosted S&P 500 High Income ETF (XSPI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

XRMI

• 1D: -0.20%
• 1M: 1.38%
• YTD: 1.75%
• 6M: 2.96%
• 1Y: 9.48%
• 3Y*: 6.71%
• 5Y*: —
• 10Y*: —

XSPI

• 1D: -0.89%
• 1M: 5.09%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XRMI vs. XSPI - Yearly Performance Comparison

	2026 (YTD)
XRMI Global X S&P 500 Risk Managed Income ETF	0.65%
XSPI NEOS Boosted S&P 500 High Income ETF	8.22%

Correlation

The correlation between XRMI and XSPI is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 4, 2026	0.82

Return for Risk

XRMI vs. XSPI — Risk / Return Rank

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

XRMI

XRMI Risk / Return Rank: 48
XRMI Sharpe Ratio Rank: 51
XRMI Sortino Ratio Rank: 50
XRMI Omega Ratio Rank: 55
XRMI Calmar Ratio Rank: 39
XRMI Martin Ratio Rank: 46

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. XSPI - 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 NEOS Boosted S&P 500 High Income ETF (XSPI). 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	XSPI	Difference
Sharpe ratio Return per unit of total volatility	1.78	—	—
Sortino ratio Return per unit of downside risk	2.48	—	—
Omega ratio Gain probability vs. loss probability	1.35	—	—
Calmar ratio Return relative to maximum drawdown	1.90	—	—
Martin ratio Return relative to average drawdown	7.70	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	XRMI	XSPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.78	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	1.55	-1.18

Drawdowns

XRMI vs. XSPI - Drawdown Comparison

The maximum XRMI drawdown since its inception was -15.31%, which is greater than XSPI's maximum drawdown of -11.59%. Use the drawdown chart below to compare losses from any high point for XRMI and XSPI.

Drawdown Indicators

	XRMI	XSPI	Difference
Max Drawdown Largest peak-to-trough decline	-15.31%	-11.59%	-3.72%
Max Drawdown (1Y) Largest decline over 1 year	-5.02%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-8.34%	—	—
Current Drawdown Current decline from peak	-0.20%	-0.89%	+0.69%
Average Drawdown Average peak-to-trough decline	-5.94%	-2.23%	-3.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.23%	—	—

Volatility

Volatility by Period

	XRMI	XSPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.89%	—	—
Volatility (6M) Calculated over the trailing 6-month period	4.21%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	5.39%	17.64%	-12.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.91%	17.64%	-10.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.91%	17.64%	-10.73%

XRMI vs. XSPI - Expense Ratio Comparison

XRMI has a 0.60% expense ratio, which is lower than XSPI's 0.98% expense ratio.

Dividends

XRMI vs. XSPI - Dividend Comparison

XRMI's dividend yield for the trailing twelve months is around 12.62%, more than XSPI's 6.83% yield.

Position	TTM	2025	2024	2023	2022	2021
XRMI Global X S&P 500 Risk Managed Income ETF	12.62%	12.35%	11.86%	12.62%	12.84%	2.93%
XSPI NEOS Boosted S&P 500 High Income ETF	6.83%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XRMI and XSPI in my portfolio?

XRMI and XSPI have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XRMI or XSPI?

On fees, XRMI 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, XRMI or XSPI?

XRMI is cheaper with a 0.60% expense ratio, compared with 0.98% for XSPI.

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

XRMI has the higher dividend yield at 12.62%, compared with 6.83% for XSPI.

What is the main difference between XRMI and XSPI?

XRMI tracks Cboe S&P 500 Risk Managed Income Index, while XSPI tracks S&P 500. They also come from different issuers: Global X and NEOS Investments. Their fees differ too: 0.60% for XRMI and 0.98% for XSPI.