XY7D.DE vs. SPYI

Last updated Jun 4, 2026

XY7D.DE (Global X S&P 500 Covered Call UCITS ETF Inc) and SPYI (NEOS S&P 500 High Income ETF) are both exchange-traded funds - XY7D.DE is a S&P 500 fund tracking the Cboe S&P 500 BuyWrite 15% WHT, while SPYI is a Derivative Income fund actively managed by Neos. XY7D.DE is passively managed, while SPYI is actively managed. Over the past year, XY7D.DE returned 13.07% vs 20.31% for SPYI. A 0.50 correlation means they provide meaningful diversification when combined. XY7D.DE charges 0.45%/yr vs 0.68%/yr for SPYI.

Performance

XY7D.DE vs. SPYI - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Global X S&P 500 Covered Call UCITS ETF Inc (XY7D.DE) and NEOS S&P 500 High Income ETF (SPYI). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

XY7D.DE is traded in EUR, while SPYI is traded in USD. To make them comparable, the SPYI values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, XY7D.DE achieves a 5.51% return, which is significantly lower than SPYI's 9.01% return.

XY7D.DE

• 1D: 0.13%
• 1M: 3.16%
• YTD: 5.51%
• 6M: 6.41%
• 1Y: 13.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPYI

• 1D: -0.28%
• 1M: 4.45%
• YTD: 9.01%
• 6M: 8.96%
• 1Y: 20.31%
• 3Y*: 13.33%
• 5Y*: —
• 10Y*: —

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

XY7D.DE vs. SPYI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
XY7D.DE Global X S&P 500 Covered Call UCITS ETF Inc	5.51%	-5.34%	25.87%	-8.30%
SPYI NEOS S&P 500 High Income ETF	9.01%	2.82%	26.89%	3.04%

Correlation

The correlation between XY7D.DE and SPYI is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (All Time) Calculated using the full available price history since Jul 12, 2023	0.50

The correlation between XY7D.DE and SPYI has been stable across timeframes, ranging from 0.47 to 0.50 - a consistent structural relationship.

Return for Risk

XY7D.DE vs. SPYI — Risk / Return Rank

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

XY7D.DE

XY7D.DE Risk / Return Rank: 49
XY7D.DE Sharpe Ratio Rank: 42
XY7D.DE Sortino Ratio Rank: 42
XY7D.DE Omega Ratio Rank: 41
XY7D.DE Calmar Ratio Rank: 67
XY7D.DE Martin Ratio Rank: 54

SPYI

SPYI Risk / Return Rank: 71
SPYI Sharpe Ratio Rank: 71
SPYI Sortino Ratio Rank: 70
SPYI Omega Ratio Rank: 76
SPYI Calmar Ratio Rank: 58
SPYI Martin Ratio Rank: 78

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.

XY7D.DE vs. SPYI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X S&P 500 Covered Call UCITS ETF Inc (XY7D.DE) and NEOS S&P 500 High Income ETF (SPYI). 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.

	XY7D.DE	SPYI	Difference
Sharpe ratio: Return per unit of total volatility	1.51	1.94	-0.43
Sortino ratio: Return per unit of downside risk	2.14	2.55	-0.41
Omega ratio: Gain probability vs. loss probability	1.27	1.37	-0.10
Calmar ratio: Return relative to maximum drawdown	3.36	3.51	-0.14
Martin ratio: Return relative to average drawdown	9.42	14.09	-4.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XY7D.DE vs. SPYI - Sharpe Ratio Comparison

The current XY7D.DE Sharpe Ratio is 1.51, which is comparable to the SPYI Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of XY7D.DE and SPYI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	XY7D.DE	SPYI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.51	1.94	-0.43
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.81	-0.44

Drawdowns

XY7D.DE vs. SPYI - Drawdown Comparison

The maximum XY7D.DE drawdown since its inception was -20.79%, roughly equal to the maximum SPYI drawdown of -21.83%. Use the drawdown chart below to compare losses from any high point for XY7D.DE and SPYI.

Drawdown Indicators

	XY7D.DE	SPYI	Difference
Max Drawdown Largest peak-to-trough decline	-20.79%	-21.83%	+1.04%
Max Drawdown (1Y) Largest decline over 1 year	-3.87%	-5.82%	+1.95%
Max Drawdown (3Y) Largest decline over 3 years	—	-21.83%	—
Current Drawdown Current decline from peak	-4.17%	-0.28%	-3.89%
Average Drawdown Average peak-to-trough decline	-7.15%	-3.47%	-3.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.38%	1.45%	-0.07%

Volatility

XY7D.DE vs. SPYI - Volatility Comparison

Global X S&P 500 Covered Call UCITS ETF Inc (XY7D.DE) has a higher volatility of 1.59% compared to NEOS S&P 500 High Income ETF (SPYI) at 1.46%. This indicates that XY7D.DE's price experiences larger fluctuations and is considered to be riskier than SPYI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XY7D.DE	SPYI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.59%	1.46%	+0.13%
Volatility (6M) Calculated over the trailing 6-month period	6.10%	7.28%	-1.18%
Volatility (1Y) Calculated over the trailing 1-year period	8.68%	10.56%	-1.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.51%	13.89%	-0.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.51%	13.89%	-0.38%

XY7D.DE vs. SPYI - Expense Ratio Comparison

XY7D.DE has a 0.45% expense ratio, which is lower than SPYI's 0.68% expense ratio.

Dividends

XY7D.DE vs. SPYI - Dividend Comparison

XY7D.DE's dividend yield for the trailing twelve months is around 6.63%, less than SPYI's 11.64% yield.

Position	TTM	2025	2024	2023	2022
SPYI NEOS S&P 500 High Income ETF	11.64%	11.70%	12.04%	12.01%	4.10%
XY7D.DE Global X S&P 500 Covered Call UCITS ETF Inc	6.63%	9.21%	7.75%	4.30%	0.00%

Frequently Asked Questions

Can I hold both XY7D.DE and SPYI in my portfolio?

XY7D.DE and SPYI have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XY7D.DE or SPYI?

On fees, XY7D.DE is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XY7D.DE or SPYI?

XY7D.DE is cheaper with a 0.45% expense ratio, compared with 0.68% for SPYI.

What is the main difference between XY7D.DE and SPYI?

XY7D.DE is categorized as S&P 500, while SPYI is Derivative Income. They also come from different issuers: Global X and Neos. Their fees differ too: 0.45% for XY7D.DE and 0.68% for SPYI.