XYLD vs. PFFA
XYLD (Global X S&P 500 Covered Call ETF) and PFFA (Virtus InfraCap U.S. Preferred Stock ETF) are both exchange-traded funds - XYLD is a Derivative Income fund tracking the Cboe S&P 500 BuyWrite Index, while PFFA is a Preferred Stock/Convertible Bonds fund actively managed by Virtus Investment Partners. XYLD is passively managed, while PFFA is actively managed. Over the past 5 years, XYLD returned 7.73%/yr vs 6.42%/yr for PFFA. At a 0.45 correlation, their price movements are largely independent. XYLD charges 0.60%/yr vs 1.47%/yr for PFFA.
Performance
XYLD vs. PFFA - Performance Comparison
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Returns By Period
In the year-to-date period, XYLD achieves a 5.52% return, which is significantly higher than PFFA's 3.08% return.
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%
PFFA
- 1D
- 0.19%
- 1M
- -0.14%
- YTD
- 3.08%
- 6M
- 2.32%
- 1Y
- 12.59%
- 3Y*
- 14.42%
- 5Y*
- 6.42%
- 10Y*
- —
XYLD vs. PFFA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
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% | -7.08% |
PFFA Virtus InfraCap U.S. Preferred Stock ETF | 3.08% | 8.22% | 16.11% | 26.45% | -20.91% | 23.53% | -7.87% | 31.99% | -7.29% |
Correlation
The correlation between XYLD and PFFA is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since May 16, 2018 | 0.45 |
The correlation between XYLD and PFFA shifts across timeframes, from 0.42 (3 years) to 0.57 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
XYLD vs. PFFA — Risk / Return Rank
XYLD
PFFA
XYLD vs. PFFA - 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 Virtus InfraCap U.S. Preferred Stock ETF (PFFA). 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 | PFFA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.77 | ||
| Sortino ratioReturn per unit of downside risk | +1.09 | ||
| Omega ratioGain probability vs. loss probability | 1.59 | 1.33 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 3.27 | 1.95 | +1.32 |
| Martin ratioReturn relative to average drawdown | 17.16 | 6.47 | +10.69 |
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Drawdowns
XYLD vs. PFFA - Drawdown Comparison
The maximum XYLD drawdown since its inception was -33.46%, smaller than the maximum PFFA drawdown of -70.52%. Use the drawdown chart below to compare losses from any high point for XYLD and PFFA.
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Drawdown Indicators
| XYLD | PFFA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.46% | -70.52% | +37.06% |
Max Drawdown (1Y)Largest decline over 1 year | -5.29% | -6.49% | +1.20% |
Max Drawdown (3Y)Largest decline over 3 years | -15.53% | -12.15% | -3.38% |
Max Drawdown (5Y)Largest decline over 5 years | -18.66% | -22.70% | +4.04% |
Max Drawdown (10Y)Largest decline over 10 years | -33.46% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.50% | +1.50% |
Average DrawdownAverage peak-to-trough decline | -3.71% | -6.62% | +2.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.01% | 1.95% | -0.94% |
Volatility
XYLD vs. PFFA - Volatility Comparison
Global X S&P 500 Covered Call ETF (XYLD) and Virtus InfraCap U.S. Preferred Stock ETF (PFFA) have volatilities of 2.21% and 2.17%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XYLD | PFFA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.21% | 2.17% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 5.76% | 5.89% | -0.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.80% | 7.13% | -0.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.26% | 11.53% | -0.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.22% | 31.76% | -17.54% |
XYLD vs. PFFA - Expense Ratio Comparison
XYLD has a 0.60% expense ratio, which is lower than PFFA's 1.47% expense ratio.
Dividends
XYLD vs. PFFA - Dividend Comparison
XYLD's dividend yield for the trailing twelve months is around 10.46%, more than PFFA's 9.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PFFA Virtus InfraCap U.S. Preferred Stock ETF | 9.62% | 9.47% | 9.18% | 9.56% | 10.75% | 7.64% | 8.54% | 10.02% | 5.15% | 0.00% | 0.00% | 0.00% |
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
XYLD and PFFA have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XYLD has higher volatility (2.21%) compared to PFFA (2.17%). In terms of maximum drawdown, XYLD dropped -33.46% vs PFFA's -70.52%.
On 5-year performance, XYLD leads with 7.73% vs 6.42% for PFFA. On fees, XYLD is cheaper at 0.60% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, XYLD has performed better with a 7.73% return vs 6.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XYLD is cheaper with a 0.60% expense ratio, compared with 1.47% for PFFA.
XYLD has the higher dividend yield at 10.46%, compared with 9.62% for PFFA.
XYLD is categorized as Derivative Income, while PFFA is Preferred Stock/Convertible Bonds. They also come from different issuers: Global X and Virtus Investment Partners. Their fees differ too: 0.60% for XYLD and 1.47% for PFFA.
XYLD currently has the higher Sharpe Ratio (2.54 vs 1.77), 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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