XYLD vs. PSA.TO

Last updated Jun 14, 2026

XYLD (Global X S&P 500 Covered Call ETF) and PSA.TO (Purpose High Interest Savings Fund) are both exchange-traded funds - XYLD is a Derivative Income fund tracking the Cboe S&P 500 BuyWrite Index, while PSA.TO is a Money Market fund actively managed by Purpose Investments. XYLD is passively managed, while PSA.TO is actively managed. Over the past 10 years, XYLD returned 8.35%/yr vs 1.39%/yr for PSA.TO. At a 0.04 correlation, their price movements are largely independent. XYLD charges 0.60%/yr vs 0.17%/yr for PSA.TO.

Performance

XYLD vs. PSA.TO - 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 Purpose High Interest Savings Fund (PSA.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

XYLD is traded in USD, while PSA.TO is traded in CAD. To make them comparable, the PSA.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XYLD achieves a 4.83% return, which is significantly higher than PSA.TO's -1.03% return. Over the past 10 years, XYLD has outperformed PSA.TO with an annualized return of 8.35%, while PSA.TO has yielded a comparatively lower 1.39% annualized return.

XYLD

• 1D: 0.57%
• 1M: 1.40%
• YTD: 4.83%
• 6M: 6.01%
• 1Y: 17.00%
• 3Y*: 11.00%
• 5Y*: 7.61%
• 10Y*: 8.35%

PSA.TO

• 1D: -0.16%
• 1M: -1.63%
• YTD: -1.03%
• 6M: -0.32%
• 1Y: -0.42%
• 3Y*: 2.18%
• 5Y*: 0.24%
• 10Y*: 1.39%

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

XYLD vs. PSA.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XYLD Global X S&P 500 Covered Call ETF	4.83%	8.02%	19.49%	11.10%	-12.05%	19.59%	-0.56%	21.41%	-6.09%	16.49%
PSA.TO Purpose High Interest Savings Fund	-1.03%	7.55%	-3.61%	7.69%	-3.77%	0.66%	3.38%	6.61%	-6.23%	8.42%

Correlation

The correlation between XYLD and PSA.TO is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (5Y) Calculated over the trailing 5-year period	0.07
Correlation (10Y) Calculated over the trailing 10-year period	0.04
Correlation (All Time) Calculated using the full available price history since Oct 15, 2013	0.04

Return for Risk

XYLD vs. PSA.TO — Risk / Return Rank

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

XYLD

XYLD Risk / Return Rank: 85
XYLD Sharpe Ratio Rank: 87
XYLD Sortino Ratio Rank: 88
XYLD Omega Ratio Rank: 93
XYLD Calmar Ratio Rank: 72
XYLD Martin Ratio Rank: 88

PSA.TO

PSA.TO Risk / Return Rank: 99
PSA.TO Sharpe Ratio Rank: 99
PSA.TO Sortino Ratio Rank: 99
PSA.TO Omega Ratio Rank: 99
PSA.TO Calmar Ratio Rank: 100
PSA.TO Martin Ratio Rank: 100

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. PSA.TO - 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 Purpose High Interest Savings Fund (PSA.TO). 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	PSA.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.46	0.03	+2.43
Sortino ratio: Return per unit of downside risk	3.49	0.08	+3.42
Omega ratio: Gain probability vs. loss probability	1.57	1.01	+0.56
Calmar ratio: Return relative to maximum drawdown	3.16	0.04	+3.12
Martin ratio: Return relative to average drawdown	16.57	0.08	+16.48

XYLD vs. PSA.TO - Sharpe Ratio Comparison

The current XYLD Sharpe Ratio is 2.46, which is higher than the PSA.TO Sharpe Ratio of 0.03. The chart below compares the historical Sharpe Ratios of XYLD and PSA.TO, 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. PSA.TO - Drawdown Comparison

The maximum XYLD drawdown since its inception was -33.46%, which is greater than PSA.TO's maximum drawdown of -27.47%. Use the drawdown chart below to compare losses from any high point for XYLD and PSA.TO.

Drawdown Indicators

	XYLD	PSA.TO	Difference
Max Drawdown Largest peak-to-trough decline	-33.46%	-27.47%	-5.99%
Max Drawdown (1Y) Largest decline over 1 year	-5.29%	-2.97%	-2.32%
Max Drawdown (3Y) Largest decline over 3 years	-15.53%	-7.62%	-7.91%
Max Drawdown (5Y) Largest decline over 5 years	-18.66%	-10.54%	-8.12%
Max Drawdown (10Y) Largest decline over 10 years	-33.46%	-12.51%	-20.95%
Current Drawdown Current decline from peak	-0.29%	-5.01%	+4.72%
Average Drawdown Average peak-to-trough decline	-3.71%	-12.58%	+8.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.01%	1.54%	-0.53%

Volatility

XYLD vs. PSA.TO - Volatility Comparison

Global X S&P 500 Covered Call ETF (XYLD) has a higher volatility of 2.17% compared to Purpose High Interest Savings Fund (PSA.TO) at 0.75%. This indicates that XYLD's price experiences larger fluctuations and is considered to be riskier than PSA.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XYLD	PSA.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.17%	0.75%	+1.42%
Volatility (6M) Calculated over the trailing 6-month period	5.71%	3.20%	+2.51%
Volatility (1Y) Calculated over the trailing 1-year period	6.79%	4.37%	+2.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.25%	6.29%	+4.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.22%	6.62%	+7.60%

XYLD vs. PSA.TO - Expense Ratio Comparison

XYLD has a 0.60% expense ratio, which is higher than PSA.TO's 0.17% expense ratio.

Dividends

XYLD vs. PSA.TO - Dividend Comparison

XYLD's dividend yield for the trailing twelve months is around 10.53%, more than PSA.TO's 2.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PSA.TO Purpose High Interest Savings Fund	2.33%	2.61%	4.46%	5.05%	2.26%	0.59%	0.94%	2.18%	1.66%	1.07%	0.99%	1.07%
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

Can I hold both XYLD and PSA.TO in my portfolio?

XYLD and PSA.TO have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XYLD or PSA.TO?

On fees, PSA.TO is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XYLD or PSA.TO?

PSA.TO is cheaper with a 0.17% expense ratio, compared with 0.60% for XYLD.

What is the main difference between XYLD and PSA.TO?

XYLD is categorized as Derivative Income, while PSA.TO is Money Market. They also come from different issuers: Global X and Purpose Investments. Their fees differ too: 0.60% for XYLD and 0.17% for PSA.TO.