XYLD vs. PUTW

Last updated Apr 1, 2026

Compare and contrast key facts about Global X S&P 500 Covered Call ETF (XYLD) and WisdomTree Equity Premium Income Fund (PUTW).

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. PUTW is a passively managed fund by WisdomTree that tracks the performance of the Volos U.S. Large Cap Target 2.5% PutWrite Index. It was launched on Feb 24, 2016. Both XYLD and PUTW are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

XYLD vs. PUTW - 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 WisdomTree Equity Premium Income Fund (PUTW). The values are adjusted to include any dividend payments, if applicable.

XYLD vs. PUTW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XYLD Global X S&P 500 Covered Call ETF	-1.04%	8.02%	19.49%	11.10%	-12.05%	19.59%	-0.56%	21.41%	-6.09%	16.49%
PUTW WisdomTree Equity Premium Income Fund	-1.66%	14.45%	17.18%	15.53%	-10.11%	20.94%	1.65%	13.55%	-7.16%	10.09%

Returns By Period

In the year-to-date period, XYLD achieves a -1.04% return, which is significantly higher than PUTW's -1.66% return. Both investments have delivered pretty close results over the past 10 years, with XYLD having a 7.87% annualized return and PUTW not far behind at 7.80%.

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%

PUTW

• 1D: 2.60%
• 1M: -3.50%
• YTD: -1.66%
• 6M: 1.99%
• 1Y: 15.64%
• 3Y*: 13.04%
• 5Y*: 9.37%
• 10Y*: 7.80%

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

XYLD vs. PUTW - Expense Ratio Comparison

XYLD has a 0.60% expense ratio, which is higher than PUTW's 0.44% expense ratio.

XYLD

Global X S&P 500 Covered Call ETF

PUTW

WisdomTree Equity Premium Income Fund

Return for Risk

XYLD vs. PUTW — Risk / Return Rank

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

XYLD

XYLD Risk / Return Rank: 56
XYLD Sharpe Ratio Rank: 44
XYLD Sortino Ratio Rank: 48
XYLD Omega Ratio Rank: 71
XYLD Calmar Ratio Rank: 47
XYLD Martin Ratio Rank: 69

PUTW

PUTW Risk / Return Rank: 72
PUTW Sharpe Ratio Rank: 63
PUTW Sortino Ratio Rank: 67
PUTW Omega Ratio Rank: 74
PUTW Calmar Ratio Rank: 72
PUTW Martin Ratio Rank: 85

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. PUTW - 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 WisdomTree Equity Premium Income Fund (PUTW). 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	PUTW	Difference
Sharpe ratio Return per unit of total volatility	0.76	1.10	-0.34
Sortino ratio Return per unit of downside risk	1.22	1.65	-0.43
Omega ratio Gain probability vs. loss probability	1.25	1.27	-0.02
Calmar ratio Return relative to maximum drawdown	1.10	1.62	-0.53
Martin ratio Return relative to average drawdown	6.46	8.70	-2.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XYLD vs. PUTW - Sharpe Ratio Comparison

The current XYLD Sharpe Ratio is 0.76, which is lower than the PUTW Sharpe Ratio of 1.10. The chart below compares the historical Sharpe Ratios of XYLD and PUTW, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	XYLD	PUTW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.76	1.10	-0.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.62	0.77	-0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	0.59	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	0.61	-0.04

Correlation

The correlation between XYLD and PUTW is 0.72, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

XYLD vs. PUTW - Dividend Comparison

XYLD's dividend yield for the trailing twelve months is around 10.98%, less than PUTW's 12.37% 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%
PUTW WisdomTree Equity Premium Income Fund	12.37%	13.18%	11.99%	8.94%	3.27%	0.00%	1.43%	1.47%	6.46%	3.52%	2.27%	0.00%

Drawdowns

XYLD vs. PUTW - Drawdown Comparison

The maximum XYLD drawdown since its inception was -33.46%, which is greater than PUTW's maximum drawdown of -28.40%. Use the drawdown chart below to compare losses from any high point for XYLD and PUTW.

Drawdown Indicators

	XYLD	PUTW	Difference
Max Drawdown Largest peak-to-trough decline	-33.46%	-28.40%	-5.06%
Max Drawdown (1Y) Largest decline over 1 year	-10.14%	-9.90%	-0.24%
Max Drawdown (5Y) Largest decline over 5 years	-18.66%	-16.56%	-2.10%
Max Drawdown (10Y) Largest decline over 10 years	-33.46%	-28.40%	-5.06%
Current Drawdown Current decline from peak	-3.39%	-4.73%	+1.34%
Average Drawdown Average peak-to-trough decline	-3.76%	-3.48%	-0.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.72%	1.85%	-0.13%

Volatility

XYLD vs. PUTW - Volatility Comparison

The current volatility for Global X S&P 500 Covered Call ETF (XYLD) is 4.01%, while WisdomTree Equity Premium Income Fund (PUTW) has a volatility of 4.77%. This indicates that XYLD experiences smaller price fluctuations and is considered to be less risky than PUTW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XYLD	PUTW	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.01%	4.77%	-0.76%
Volatility (6M) Calculated over the trailing 6-month period	5.82%	7.82%	-2.00%
Volatility (1Y) Calculated over the trailing 1-year period	13.99%	14.33%	-0.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.31%	12.21%	-0.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.23%	13.23%	+1.00%