XYLD vs. IBIT
XYLD (Global X S&P 500 Covered Call ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - XYLD is a Derivative Income fund tracking the Cboe S&P 500 BuyWrite Index, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, XYLD returned 16.64% vs -40.63% for IBIT. At a 0.32 correlation, their price movements are largely independent. XYLD charges 0.60%/yr vs 0.25%/yr for IBIT.
Performance
XYLD vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, XYLD achieves a 4.83% return, which is significantly higher than IBIT's -27.41% return.
XYLD
- 1D
- 0.57%
- 1M
- 1.15%
- YTD
- 4.83%
- 6M
- 6.01%
- 1Y
- 16.64%
- 3Y*
- 11.00%
- 5Y*
- 7.61%
- 10Y*
- 8.35%
IBIT
- 1D
- -0.03%
- 1M
- -20.12%
- YTD
- -27.41%
- 6M
- -29.61%
- 1Y
- -40.63%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XYLD vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
XYLD Global X S&P 500 Covered Call ETF | 4.83% | 8.02% | 18.83% |
IBIT iShares Bitcoin Trust ETF | -27.41% | -6.41% | 89.87% |
Correlation
The correlation between XYLD and IBIT is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.32 |
The correlation between XYLD and IBIT shifts across timeframes, from 0.32 (all time) to 0.46 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
XYLD vs. IBIT — Risk / Return Rank
XYLD
IBIT
XYLD vs. IBIT - 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 iShares Bitcoin Trust ETF (IBIT). 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 | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.38 | ||
| Sortino ratioReturn per unit of downside risk | +4.80 | ||
| Omega ratioGain probability vs. loss probability | 1.57 | 0.85 | +0.71 |
| Calmar ratioReturn relative to maximum drawdown | 3.16 | -0.78 | +3.94 |
| Martin ratioReturn relative to average drawdown | 16.57 | -1.37 | +17.94 |
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Drawdowns
XYLD vs. IBIT - Drawdown Comparison
The maximum XYLD drawdown since its inception was -33.46%, smaller than the maximum IBIT drawdown of -52.11%. Use the drawdown chart below to compare losses from any high point for XYLD and IBIT.
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Drawdown Indicators
| XYLD | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.46% | -52.11% | +18.65% |
Max Drawdown (1Y)Largest decline over 1 year | -5.29% | -52.11% | +46.82% |
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 DrawdownCurrent decline from peak | -0.29% | -49.45% | +49.16% |
Average DrawdownAverage peak-to-trough decline | -3.71% | -16.53% | +12.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.01% | 29.64% | -28.63% |
Volatility
XYLD vs. IBIT - Volatility Comparison
The current volatility for Global X S&P 500 Covered Call ETF (XYLD) is 2.17%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 12.07%. This indicates that XYLD experiences smaller price fluctuations and is considered to be less risky than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XYLD | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.17% | 12.07% | -9.90% |
Volatility (6M)Calculated over the trailing 6-month period | 5.71% | 34.45% | -28.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.79% | 44.10% | -37.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.25% | 50.26% | -39.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.22% | 50.26% | -36.04% |
XYLD vs. IBIT - Expense Ratio Comparison
XYLD has a 0.60% expense ratio, which is higher than IBIT's 0.25% expense ratio.
Dividends
XYLD vs. IBIT - Dividend Comparison
XYLD's dividend yield for the trailing twelve months is around 10.53%, while IBIT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBIT iShares Bitcoin Trust ETF | 0.00% | 0.00% | 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
XYLD and IBIT have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (12.07%) compared to XYLD (2.17%). In terms of maximum drawdown, XYLD dropped -33.46% vs IBIT's -52.11%.
On 1-year performance, XYLD leads with 16.64% vs -40.63% for IBIT. On fees, IBIT is cheaper at 0.25% per year. On volatility, XYLD has been the lower-risk option at 2.17%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, XYLD has performed better with a 16.64% return vs -40.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIT is cheaper with a 0.25% expense ratio, compared with 0.60% for XYLD.
XYLD has the higher dividend yield at 10.53%, compared with 0.00% for IBIT.
XYLD is categorized as Derivative Income, while IBIT is Cryptocurrency. XYLD tracks Cboe S&P 500 BuyWrite Index, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. They also come from different issuers: Global X and iShares. Their fees differ too: 0.60% for XYLD and 0.25% for IBIT.
XYLD currently has the higher Sharpe Ratio (2.46 vs -0.92), 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.
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