XYLD vs. ^VIX

Last updated Apr 2, 2026

Compare and contrast key facts about Global X S&P 500 Covered Call ETF (XYLD) and CBOE Volatility Index (^VIX).

XYLD is a passively managed fund by Global X that tracks the performance of the Cboe S&P 500 BuyWrite Index. It was launched on Jun 24, 2013.

Performance

XYLD vs. ^VIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X S&P 500 Covered Call ETF (XYLD) and CBOE Volatility Index (^VIX). The values are adjusted to include any dividend payments, if applicable.

XYLD vs. ^VIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XYLD Global X S&P 500 Covered Call ETF	-0.58%	8.02%	19.49%	11.10%	-12.05%	19.59%	-0.56%	21.41%	-6.09%	16.49%
^VIX CBOE Volatility Index	64.15%	-13.83%	39.36%	-42.55%	25.84%	-24.31%	65.09%	-45.79%	130.25%	-21.37%

Returns By Period

In the year-to-date period, XYLD achieves a -0.58% return, which is significantly lower than ^VIX's 64.15% return. Over the past 10 years, XYLD has outperformed ^VIX with an annualized return of 7.92%, while ^VIX has yielded a comparatively lower 6.48% annualized return.

XYLD

• 1D: 0.46%
• 1M: -2.54%
• YTD: -0.58%
• 6M: 5.60%
• 1Y: 10.98%
• 3Y*: 10.37%
• 5Y*: 7.05%
• 10Y*: 7.92%

^VIX

• 1D: -2.81%
• 1M: 14.46%
• YTD: 64.15%
• 6M: 50.64%
• 1Y: 12.72%
• 3Y*: 9.48%
• 5Y*: 7.21%
• 10Y*: 6.48%

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

Return for Risk

XYLD vs. ^VIX — Risk / Return Rank

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

XYLD

XYLD Risk / Return Rank: 51
XYLD Sharpe Ratio Rank: 40
XYLD Sortino Ratio Rank: 43
XYLD Omega Ratio Rank: 69
XYLD Calmar Ratio Rank: 40
XYLD Martin Ratio Rank: 62

^VIX

^VIX Risk / Return Rank: 24
^VIX Sharpe Ratio Rank: 18
^VIX Sortino Ratio Rank: 49
^VIX Omega Ratio Rank: 43
^VIX Calmar Ratio Rank: 1
^VIX Martin Ratio Rank: 7

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.

XYLD vs. ^VIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X S&P 500 Covered Call ETF (XYLD) and CBOE Volatility Index (^VIX). 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.

	XYLD	^VIX	Difference
Sharpe ratio Return per unit of total volatility	0.79	0.09	+0.70
Sortino ratio Return per unit of downside risk	1.27	1.25	+0.02
Omega ratio Gain probability vs. loss probability	1.26	1.15	+0.11
Calmar ratio Return relative to maximum drawdown	1.09	-0.58	+1.66
Martin ratio Return relative to average drawdown	6.37	-0.75	+7.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XYLD vs. ^VIX - Sharpe Ratio Comparison

The current XYLD Sharpe Ratio is 0.79, which is higher than the ^VIX Sharpe Ratio of 0.09. The chart below compares the historical Sharpe Ratios of XYLD and ^VIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	XYLD	^VIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.79	0.09	+0.70
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.06	+0.57
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	0.05	+0.51
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	0.01	+0.57

Correlation

The correlation between XYLD and ^VIX is -0.68. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Drawdowns

XYLD vs. ^VIX - Drawdown Comparison

The maximum XYLD drawdown since its inception was -33.46%, smaller than the maximum ^VIX drawdown of -88.70%. Use the drawdown chart below to compare losses from any high point for XYLD and ^VIX.

Drawdown Indicators

	XYLD	^VIX	Difference
Max Drawdown Largest peak-to-trough decline	-33.46%	-88.70%	+55.24%
Max Drawdown (1Y) Largest decline over 1 year	-10.14%	-74.26%	+64.12%
Max Drawdown (5Y) Largest decline over 5 years	-18.66%	-74.26%	+55.60%
Max Drawdown (10Y) Largest decline over 10 years	-33.46%	-85.66%	+52.20%
Current Drawdown Current decline from peak	-2.94%	-70.32%	+67.38%
Average Drawdown Average peak-to-trough decline	-3.76%	-64.04%	+60.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.73%	46.08%	-44.35%

Volatility

XYLD vs. ^VIX - Volatility Comparison

The current volatility for Global X S&P 500 Covered Call ETF (XYLD) is 4.03%, while CBOE Volatility Index (^VIX) has a volatility of 48.46%. This indicates that XYLD experiences smaller price fluctuations and is considered to be less risky than ^VIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XYLD	^VIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.03%	48.46%	-44.43%
Volatility (6M) Calculated over the trailing 6-month period	5.83%	93.57%	-87.74%
Volatility (1Y) Calculated over the trailing 1-year period	13.99%	139.41%	-125.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.30%	125.25%	-113.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.23%	135.98%	-121.75%