XYLD vs. EMLC
XYLD (Global X S&P 500 Covered Call ETF) and EMLC (VanEck Vectors J.P. Morgan EM Local Currency Bond ETF) are both exchange-traded funds - XYLD is a Derivative Income fund tracking the Cboe S&P 500 BuyWrite Index, while EMLC is a Emerging Markets Bonds fund tracking the J.P. Morgan Government Bond Index Emerging Markets Global Core Index. Both are passively managed. Over the past 10 years, XYLD returned 8.23%/yr vs 1.99%/yr for EMLC. At a 0.36 correlation, their price movements are largely independent. XYLD charges 0.60%/yr vs 0.30%/yr for EMLC.
Performance
XYLD vs. EMLC - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, XYLD achieves a 4.47% return, which is significantly higher than EMLC's -0.23% return. Over the past 10 years, XYLD has outperformed EMLC with an annualized return of 8.23%, while EMLC has yielded a comparatively lower 1.99% annualized return.
XYLD
- 1D
- 0.27%
- 1M
- 0.88%
- YTD
- 4.47%
- 6M
- 5.83%
- 1Y
- 16.60%
- 3Y*
- 10.96%
- 5Y*
- 7.62%
- 10Y*
- 8.23%
EMLC
- 1D
- -0.16%
- 1M
- -1.80%
- YTD
- -0.23%
- 6M
- 1.29%
- 1Y
- 7.90%
- 3Y*
- 6.04%
- 5Y*
- 0.97%
- 10Y*
- 1.99%
XYLD vs. EMLC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XYLD Global X S&P 500 Covered Call ETF | 4.47% | 8.02% | 19.49% | 11.10% | -12.05% | 19.59% | -0.56% | 21.41% | -6.09% | 16.49% |
EMLC VanEck Vectors J.P. Morgan EM Local Currency Bond ETF | -0.23% | 18.81% | -2.97% | 11.18% | -10.58% | -9.72% | 3.08% | 9.79% | -7.57% | 13.84% |
Correlation
The correlation between XYLD and EMLC is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Jun 24, 2013 | 0.36 |
The correlation between XYLD and EMLC shifts across timeframes, from 0.34 (3 years) to 0.52 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
XYLD vs. EMLC — Risk / Return Rank
XYLD
EMLC
XYLD vs. EMLC - 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 VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC). 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 | EMLC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.40 | ||
| Sortino ratioReturn per unit of downside risk | +1.98 | ||
| Omega ratioGain probability vs. loss probability | 1.59 | 1.22 | +0.37 |
| Calmar ratioReturn relative to maximum drawdown | 3.15 | 1.28 | +1.87 |
| Martin ratioReturn relative to average drawdown | 16.73 | 4.34 | +12.39 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| XYLD | EMLC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.53 | 1.14 | +1.40 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.68 | 0.11 | +0.58 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.58 | 0.20 | +0.38 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.60 | 0.10 | +0.50 |
Drawdowns
XYLD vs. EMLC - Drawdown Comparison
The maximum XYLD drawdown since its inception was -33.46%, roughly equal to the maximum EMLC drawdown of -32.43%. Use the drawdown chart below to compare losses from any high point for XYLD and EMLC.
Loading charts...
Drawdown Indicators
| XYLD | EMLC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.46% | -32.43% | -1.03% |
Max Drawdown (1Y)Largest decline over 1 year | -5.29% | -6.19% | +0.90% |
Max Drawdown (3Y)Largest decline over 3 years | -15.53% | -9.15% | -6.38% |
Max Drawdown (5Y)Largest decline over 5 years | -18.66% | -25.26% | +6.60% |
Max Drawdown (10Y)Largest decline over 10 years | -33.46% | -26.47% | -6.99% |
Current DrawdownCurrent decline from peak | -0.64% | -5.38% | +4.74% |
Average DrawdownAverage peak-to-trough decline | -3.72% | -14.36% | +10.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.99% | 1.82% | -0.83% |
Volatility
XYLD vs. EMLC - Volatility Comparison
The current volatility for Global X S&P 500 Covered Call ETF (XYLD) is 1.33%, while VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC) has a volatility of 2.20%. This indicates that XYLD experiences smaller price fluctuations and is considered to be less risky than EMLC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| XYLD | EMLC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.33% | 2.20% | -0.87% |
Volatility (6M)Calculated over the trailing 6-month period | 5.46% | 6.08% | -0.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.60% | 7.00% | -0.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.23% | 9.13% | +2.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.21% | 10.05% | +4.16% |
XYLD vs. EMLC - Expense Ratio Comparison
XYLD has a 0.60% expense ratio, which is higher than EMLC's 0.30% expense ratio.
Dividends
XYLD vs. EMLC - Dividend Comparison
XYLD's dividend yield for the trailing twelve months is around 10.57%, more than EMLC's 6.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMLC VanEck Vectors J.P. Morgan EM Local Currency Bond ETF | 6.26% | 5.91% | 6.55% | 5.97% | 5.54% | 5.25% | 4.90% | 6.25% | 6.50% | 5.34% | 5.32% | 6.25% |
XYLD Global X S&P 500 Covered Call ETF | 10.57% | 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
XYLD and EMLC have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EMLC has higher volatility (2.20%) compared to XYLD (1.33%). In terms of maximum drawdown, XYLD dropped -33.46% vs EMLC's -32.43%.
On 10-year performance, XYLD leads with 8.23% vs 1.99% for EMLC. On fees, EMLC is cheaper at 0.30% per year. On volatility, XYLD has been the lower-risk option at 1.33%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, XYLD has performed better with a 8.23% return vs 1.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EMLC is cheaper with a 0.30% expense ratio, compared with 0.60% for XYLD.
XYLD has the higher dividend yield at 10.57%, compared with 6.26% for EMLC.
XYLD is categorized as Derivative Income, while EMLC is Emerging Markets Bonds. XYLD tracks Cboe S&P 500 BuyWrite Index, while EMLC tracks J.P. Morgan Government Bond Index Emerging Markets Global Core Index. They also come from different issuers: Global X and VanEck. Their fees differ too: 0.60% for XYLD and 0.30% for EMLC.
XYLD currently has the higher Sharpe Ratio (2.53 vs 1.14), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for XYLD and EMLC
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer