XYLD vs. PAPI
Compare and contrast key facts about Global X S&P 500 Covered Call ETF (XYLD) and Parametric Equity Premium Income ETF (PAPI).
XYLD and PAPI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. PAPI is an actively managed fund by Morgan Stanley. It was launched on Oct 16, 2023.
Performance
XYLD vs. PAPI - Performance Comparison
Loading graphics...
XYLD vs. PAPI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
XYLD Global X S&P 500 Covered Call ETF | -1.04% | 8.02% | 19.49% | 4.06% |
PAPI Parametric Equity Premium Income ETF | 8.31% | 6.33% | 8.90% | 5.36% |
Returns By Period
In the year-to-date period, XYLD achieves a -1.04% return, which is significantly lower than PAPI's 8.31% return.
XYLD
- 1D
- 2.01%
- 1M
- -2.96%
- YTD
- -1.04%
- 6M
- 5.33%
- 1Y
- 10.53%
- 3Y*
- 10.21%
- 5Y*
- 6.95%
- 10Y*
- 7.87%
PAPI
- 1D
- 0.54%
- 1M
- -2.62%
- YTD
- 8.31%
- 6M
- 9.20%
- 1Y
- 11.50%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
XYLD vs. PAPI - Expense Ratio Comparison
XYLD has a 0.60% expense ratio, which is higher than PAPI's 0.29% expense ratio.
Return for Risk
XYLD vs. PAPI — Risk / Return Rank
XYLD
PAPI
XYLD vs. PAPI - 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 Parametric Equity Premium Income ETF (PAPI). 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 | PAPI | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.76 | 0.82 | -0.06 |
Sortino ratioReturn per unit of downside risk | 1.22 | 1.23 | -0.01 |
Omega ratioGain probability vs. loss probability | 1.25 | 1.16 | +0.09 |
Calmar ratioReturn relative to maximum drawdown | 1.10 | 1.08 | +0.01 |
Martin ratioReturn relative to average drawdown | 6.46 | 4.62 | +1.84 |
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 graphics...
Sharpe Ratios by Period
| XYLD | PAPI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.76 | 0.82 | -0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.62 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.55 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.57 | 1.02 | -0.45 |
Correlation
The correlation between XYLD and PAPI is 0.40, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
XYLD vs. PAPI - Dividend Comparison
XYLD's dividend yield for the trailing twelve months is around 10.98%, more than PAPI's 7.50% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XYLD Global X S&P 500 Covered Call ETF | 10.98% | 10.51% | 11.54% | 10.51% | 13.43% | 9.07% | 7.93% | 5.76% | 7.12% | 5.18% | 3.23% | 4.65% |
PAPI Parametric Equity Premium Income ETF | 7.50% | 7.59% | 7.07% | 1.45% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
XYLD vs. PAPI - Drawdown Comparison
The maximum XYLD drawdown since its inception was -33.46%, which is greater than PAPI's maximum drawdown of -14.27%. Use the drawdown chart below to compare losses from any high point for XYLD and PAPI.
Loading graphics...
Drawdown Indicators
| XYLD | PAPI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.46% | -14.27% | -19.19% |
Max Drawdown (1Y)Largest decline over 1 year | -10.14% | -11.59% | +1.45% |
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 | -3.39% | -2.82% | -0.57% |
Average DrawdownAverage peak-to-trough decline | -3.76% | -2.57% | -1.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.72% | 2.72% | -1.00% |
Volatility
XYLD vs. PAPI - Volatility Comparison
Global X S&P 500 Covered Call ETF (XYLD) has a higher volatility of 4.01% compared to Parametric Equity Premium Income ETF (PAPI) at 3.21%. This indicates that XYLD's price experiences larger fluctuations and is considered to be riskier than PAPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| XYLD | PAPI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.01% | 3.21% | +0.80% |
Volatility (6M)Calculated over the trailing 6-month period | 5.82% | 7.51% | -1.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.99% | 14.14% | -0.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.31% | 11.96% | -0.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.23% | 11.96% | +2.27% |