XYLD vs. FAGIX

Last updated Jun 20, 2026

XYLD (Global X S&P 500 Covered Call ETF) and FAGIX (Fidelity Capital & Income Fund) are both funds - XYLD is a Derivative Income fund tracking the Cboe S&P 500 BuyWrite Index, while FAGIX is a High Yield Bonds fund actively managed by Fidelity. XYLD is passively managed, while FAGIX is actively managed. Over the past 10 years, XYLD returned 8.33%/yr vs 8.14%/yr for FAGIX. A 0.66 correlation means they provide meaningful diversification when combined. XYLD charges 0.60%/yr vs 0.67%/yr for FAGIX.

Performance

XYLD vs. FAGIX - 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 Fidelity Capital & Income Fund (FAGIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XYLD achieves a 5.52% return, which is significantly lower than FAGIX's 8.52% return. Both investments have delivered pretty close results over the past 10 years, with XYLD having a 8.33% annualized return and FAGIX not far behind at 8.14%.

XYLD

• 1D: 0.27%
• 1M: 1.69%
• YTD: 5.52%
• 6M: 5.95%
• 1Y: 17.23%
• 3Y*: 11.48%
• 5Y*: 7.73%
• 10Y*: 8.33%

FAGIX

• 1D: 0.70%
• 1M: 1.92%
• YTD: 8.52%
• 6M: 9.16%
• 1Y: 18.07%
• 3Y*: 13.10%
• 5Y*: 7.14%
• 10Y*: 8.14%

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

XYLD vs. FAGIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XYLD Global X S&P 500 Covered Call ETF	5.52%	8.02%	19.49%	11.10%	-12.05%	19.59%	-0.56%	21.41%	-6.09%	16.49%
FAGIX Fidelity Capital & Income Fund	8.52%	12.38%	10.69%	13.02%	-11.50%	11.13%	9.95%	18.96%	-7.17%	11.66%

Correlation

The correlation between XYLD and FAGIX is 0.75, 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	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (10Y) Calculated over the trailing 10-year period	0.67
Correlation (All Time) Calculated using the full available price history since Jun 24, 2013	0.66

The correlation between XYLD and FAGIX has been stable across timeframes, ranging from 0.66 to 0.75 - a consistent structural relationship.

Return for Risk

XYLD vs. FAGIX — Risk / Return Rank

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

XYLD

XYLD Risk / Return Rank: 83
XYLD Sharpe Ratio Rank: 84
XYLD Sortino Ratio Rank: 86
XYLD Omega Ratio Rank: 92
XYLD Calmar Ratio Rank: 69
XYLD Martin Ratio Rank: 86

FAGIX

FAGIX Risk / Return Rank: 92
FAGIX Sharpe Ratio Rank: 92
FAGIX Sortino Ratio Rank: 90
FAGIX Omega Ratio Rank: 87
FAGIX Calmar Ratio Rank: 95
FAGIX Martin Ratio Rank: 96

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. FAGIX - 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 Fidelity Capital & Income Fund (FAGIX). 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	FAGIX	Difference
Sharpe ratio: Return per unit of total volatility	2.54	2.80	-0.26
Sortino ratio: Return per unit of downside risk	3.62	4.02	-0.41
Omega ratio: Gain probability vs. loss probability	1.59	1.55	+0.04
Calmar ratio: Return relative to maximum drawdown	3.27	5.20	-1.93
Martin ratio: Return relative to average drawdown	17.16	21.24	-4.07

XYLD vs. FAGIX - Sharpe Ratio Comparison

The current XYLD Sharpe Ratio is 2.54, which is comparable to the FAGIX Sharpe Ratio of 2.80. The chart below compares the historical Sharpe Ratios of XYLD and FAGIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

XYLD vs. FAGIX - Drawdown Comparison

The maximum XYLD drawdown since its inception was -33.46%, smaller than the maximum FAGIX drawdown of -37.97%. Use the drawdown chart below to compare losses from any high point for XYLD and FAGIX.

Drawdown Indicators

	XYLD	FAGIX	Difference
Max Drawdown Largest peak-to-trough decline	-33.46%	-37.97%	+4.51%
Max Drawdown (1Y) Largest decline over 1 year	-5.29%	-3.49%	-1.80%
Max Drawdown (3Y) Largest decline over 3 years	-15.53%	-7.26%	-8.27%
Max Drawdown (5Y) Largest decline over 5 years	-18.66%	-15.42%	-3.24%
Max Drawdown (10Y) Largest decline over 10 years	-33.46%	-28.45%	-5.01%
Current Drawdown Current decline from peak	0.00%	-0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.71%	-6.98%	+3.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.01%	0.85%	+0.16%

Volatility

XYLD vs. FAGIX - Volatility Comparison

The current volatility for Global X S&P 500 Covered Call ETF (XYLD) is 2.21%, while Fidelity Capital & Income Fund (FAGIX) has a volatility of 2.74%. This indicates that XYLD experiences smaller price fluctuations and is considered to be less risky than FAGIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XYLD	FAGIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.21%	2.74%	-0.53%
Volatility (6M) Calculated over the trailing 6-month period	5.76%	5.38%	+0.38%
Volatility (1Y) Calculated over the trailing 1-year period	6.80%	6.47%	+0.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.26%	6.68%	+4.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.22%	7.85%	+6.37%

XYLD vs. FAGIX - Expense Ratio Comparison

XYLD has a 0.60% expense ratio, which is lower than FAGIX's 0.67% expense ratio.

Dividends

XYLD vs. FAGIX - Dividend Comparison

XYLD's dividend yield for the trailing twelve months is around 10.46%, more than FAGIX's 5.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAGIX Fidelity Capital & Income Fund	5.23%	4.74%	5.02%	5.28%	10.25%	6.08%	4.59%	5.00%	5.67%	5.05%	4.57%	4.51%
XYLD Global X S&P 500 Covered Call ETF	10.46%	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 FAGIX in my portfolio?

XYLD and FAGIX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XYLD or FAGIX?

FAGIX has higher volatility (2.74%) compared to XYLD (2.21%). In terms of maximum drawdown, XYLD dropped -33.46% vs FAGIX's -37.97%.

Which has better risk-adjusted returns?

FAGIX currently has the higher Sharpe Ratio (2.80 vs 2.54), 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.