XYLD vs. CWII

Last updated Jun 24, 2026

XYLD (Global X S&P 500 Covered Call ETF) and CWII (REX CRWV Growth & Income ETF) are both Derivative Income funds. XYLD is passively managed, while CWII is actively managed. At a 0.38 correlation, their price movements are largely independent. XYLD charges 0.60%/yr vs 1.03%/yr for CWII.

Performance

XYLD vs. CWII - 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 REX CRWV Growth & Income ETF (CWII). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XYLD achieves a 4.54% return, which is significantly lower than CWII's 13,199.78% return.

XYLD

• 1D: -0.89%
• 1M: 0.36%
• YTD: 4.54%
• 6M: 4.43%
• 1Y: 16.08%
• 3Y*: 11.33%
• 5Y*: 7.32%
• 10Y*: 8.36%

CWII

• 1D: 0.00%
• 1M: 10,273.16%
• YTD: 13,199.78%
• 6M: 11,946.90%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XYLD vs. CWII - Yearly Performance Comparison

	2026 (YTD)	2025
XYLD Global X S&P 500 Covered Call ETF	4.54%	3.61%
CWII REX CRWV Growth & Income ETF	13,199.78%	-45.06%

Correlation

The correlation between XYLD and CWII is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 4, 2025	0.38

Return for Risk

XYLD vs. CWII — Risk / Return Rank

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

XYLD

XYLD Risk / Return Rank: 78
XYLD Sharpe Ratio Rank: 77
XYLD Sortino Ratio Rank: 79
XYLD Omega Ratio Rank: 89
XYLD Calmar Ratio Rank: 64
XYLD Martin Ratio Rank: 82

CWII

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. CWII - 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 REX CRWV Growth & Income ETF (CWII). 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.

	XYLD	CWII	Difference
Sharpe ratio: Return per unit of total volatility	2.36	—	—
Sortino ratio: Return per unit of downside risk	3.34	—	—
Omega ratio: Gain probability vs. loss probability	1.54	—	—
Calmar ratio: Return relative to maximum drawdown	3.05	—	—
Martin ratio: Return relative to average drawdown	15.99	—	—

Drawdowns

XYLD vs. CWII - Drawdown Comparison

The maximum XYLD drawdown since its inception was -33.46%, smaller than the maximum CWII drawdown of -51.04%. Use the drawdown chart below to compare losses from any high point for XYLD and CWII.

Drawdown Indicators

	XYLD	CWII	Difference
Max Drawdown Largest peak-to-trough decline	-33.46%	-51.04%	+17.58%
Max Drawdown (1Y) Largest decline over 1 year	-5.29%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-15.53%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-18.66%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-33.46%	—	—
Current Drawdown Current decline from peak	-0.93%	0.00%	-0.93%
Average Drawdown Average peak-to-trough decline	-3.70%	-33.26%	+29.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.01%	—	—

Volatility

Volatility by Period

	XYLD	CWII	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.36%	—	—
Volatility (6M) Calculated over the trailing 6-month period	5.83%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	6.86%	13,701.30%	-13,694.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.26%	13,701.30%	-13,690.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.19%	13,701.30%	-13,687.11%

XYLD vs. CWII - Expense Ratio Comparison

XYLD has a 0.60% expense ratio, which is lower than CWII's 1.03% expense ratio.

Dividends

XYLD vs. CWII - Dividend Comparison

XYLD's dividend yield for the trailing twelve months is around 10.53%, less than CWII's 123.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CWII REX CRWV Growth & Income ETF	123.26%	6.09%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XYLD Global X S&P 500 Covered Call ETF	10.53%	10.51%	11.54%	10.51%	13.43%	9.07%	7.93%	5.76%	7.12%	5.18%	3.23%	4.65%

Frequently Asked Questions

Can I hold both XYLD and CWII in my portfolio?

XYLD and CWII have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XYLD or CWII?

On fees, XYLD 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, XYLD or CWII?

XYLD is cheaper with a 0.60% expense ratio, compared with 1.03% for CWII.

Which ETF pays a higher dividend yield, XYLD or CWII?

CWII has the higher dividend yield at 123.26%, compared with 10.53% for XYLD.

What is the main difference between XYLD and CWII?

They also come from different issuers: Global X and REX Shares. Their fees differ too: 0.60% for XYLD and 1.03% for CWII.