XYLD vs. RYLD

Last updated Jun 23, 2026

XYLD (Global X S&P 500 Covered Call ETF) and RYLD (Global X Russell 2000 Covered Call ETF) are both Derivative Income funds from Global X - XYLD tracks the Cboe S&P 500 BuyWrite Index while RYLD tracks the CBOE Russell 2000 BuyWrite Index. Both are passively managed. Over the past 5 years, XYLD returned 7.58%/yr vs 2.64%/yr for RYLD. A 0.75 correlation means they provide meaningful diversification when combined. Both charge a 0.60% expense ratio.

Performance

XYLD vs. RYLD - 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 Global X Russell 2000 Covered Call ETF (RYLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XYLD achieves a 5.47% return, which is significantly lower than RYLD's 10.06% return.

XYLD

• 1D: -0.05%
• 1M: 1.26%
• YTD: 5.47%
• 6M: 5.58%
• 1Y: 17.60%
• 3Y*: 11.66%
• 5Y*: 7.58%
• 10Y*: 8.46%

RYLD

• 1D: 0.01%
• 1M: 2.64%
• YTD: 10.06%
• 6M: 8.71%
• 1Y: 22.00%
• 3Y*: 8.90%
• 5Y*: 2.64%
• 10Y*: —

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

XYLD vs. RYLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
XYLD Global X S&P 500 Covered Call ETF	5.47%	8.02%	19.49%	11.10%	-12.05%	19.59%	-0.56%	8.84%
RYLD Global X Russell 2000 Covered Call ETF	10.06%	5.65%	10.13%	0.27%	-13.03%	22.13%	-0.44%	8.86%

Correlation

The correlation between XYLD and RYLD is 0.76, 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	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (All Time) Calculated using the full available price history since Apr 22, 2019	0.75

The correlation between XYLD and RYLD has been stable across timeframes, ranging from 0.74 to 0.77 - a consistent structural relationship.

XYLD vs. RYLD - Sectors Allocation Comparison

Sectors	XYLD	RYLD
Technology	39.0%	19.0%
Financial Services	11.1%	15.5%
Communication Services	10.6%	2.4%
Consumer Cyclical	9.9%	8.0%
Healthcare	8.3%	16.3%
Industrials	7.8%	18.0%
Consumer Defensive	4.5%	2.3%
Energy	3.2%	5.4%
Utilities	2.1%	2.8%
Real Estate	1.8%	5.9%
Basic Materials	1.7%	4.7%

Return for Risk

XYLD vs. RYLD — Risk / Return Rank

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

XYLD

XYLD Risk / Return Rank: 84
XYLD Sharpe Ratio Rank: 84
XYLD Sortino Ratio Rank: 86
XYLD Omega Ratio Rank: 92
XYLD Calmar Ratio Rank: 69
XYLD Martin Ratio Rank: 86

RYLD

RYLD Risk / Return Rank: 71
RYLD Sharpe Ratio Rank: 66
RYLD Sortino Ratio Rank: 66
RYLD Omega Ratio Rank: 77
RYLD Calmar Ratio Rank: 72
RYLD Martin Ratio Rank: 77

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. RYLD - 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 Global X Russell 2000 Covered Call ETF (RYLD). 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	RYLD	Difference
Sharpe ratio: Return per unit of total volatility	2.60	2.08	+0.53
Sortino ratio: Return per unit of downside risk	3.70	2.92	+0.78
Omega ratio: Gain probability vs. loss probability	1.61	1.44	+0.17
Calmar ratio: Return relative to maximum drawdown	3.34	3.51	-0.17
Martin ratio: Return relative to average drawdown	17.53	14.19	+3.34

XYLD vs. RYLD - Sharpe Ratio Comparison

The current XYLD Sharpe Ratio is 2.60, which is comparable to the RYLD Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of XYLD and RYLD, 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. RYLD - Drawdown Comparison

The maximum XYLD drawdown since its inception was -33.46%, smaller than the maximum RYLD drawdown of -41.53%. Use the drawdown chart below to compare losses from any high point for XYLD and RYLD.

Drawdown Indicators

	XYLD	RYLD	Difference
Max Drawdown Largest peak-to-trough decline	-33.46%	-41.53%	+8.07%
Max Drawdown (1Y) Largest decline over 1 year	-5.29%	-6.29%	+1.00%
Max Drawdown (3Y) Largest decline over 3 years	-15.53%	-19.05%	+3.52%
Max Drawdown (5Y) Largest decline over 5 years	-18.66%	-21.33%	+2.67%
Max Drawdown (10Y) Largest decline over 10 years	-33.46%	—	—
Current Drawdown Current decline from peak	-0.05%	0.00%	-0.05%
Average Drawdown Average peak-to-trough decline	-3.71%	-8.78%	+5.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.01%	1.55%	-0.54%

Volatility

XYLD vs. RYLD - Volatility Comparison

Global X S&P 500 Covered Call ETF (XYLD) has a higher volatility of 2.16% compared to Global X Russell 2000 Covered Call ETF (RYLD) at 1.94%. This indicates that XYLD's price experiences larger fluctuations and is considered to be riskier than RYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XYLD	RYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.16%	1.94%	+0.22%
Volatility (6M) Calculated over the trailing 6-month period	5.76%	7.78%	-2.02%
Volatility (1Y) Calculated over the trailing 1-year period	6.80%	10.66%	-3.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.26%	14.05%	-2.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.21%	17.15%	-2.94%

XYLD vs. RYLD - Expense Ratio Comparison

Both XYLD and RYLD have an expense ratio of 0.60%.

Dividends

XYLD vs. RYLD - Dividend Comparison

XYLD's dividend yield for the trailing twelve months is around 11.39%, less than RYLD's 12.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RYLD Global X Russell 2000 Covered Call ETF	12.61%	12.00%	12.03%	12.64%	13.49%	12.35%	10.76%	6.43%	0.00%	0.00%	0.00%	0.00%
XYLD Global X S&P 500 Covered Call ETF	11.39%	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 RYLD in my portfolio?

XYLD and RYLD have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XYLD or RYLD?

XYLD has higher volatility (2.16%) compared to RYLD (1.94%). In terms of maximum drawdown, XYLD dropped -33.46% vs RYLD's -41.53%.

Which ETF is better, XYLD or RYLD?

On 5-year performance, XYLD leads with 7.58% vs 2.64% for RYLD. Both ETFs have the same 0.60% expense ratio. On volatility, RYLD has been the lower-risk option at 1.94%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XYLD or RYLD?

Over the 5-year period, XYLD has performed better with a 7.58% return vs 2.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XYLD or RYLD?

XYLD and RYLD have the same expense ratio: 0.60% per year.

Which ETF pays a higher dividend yield, XYLD or RYLD?

RYLD has the higher dividend yield at 12.61%, compared with 11.39% for XYLD.

What is the main difference between XYLD and RYLD?

XYLD tracks Cboe S&P 500 BuyWrite Index, while RYLD tracks CBOE Russell 2000 BuyWrite Index.

Which has better risk-adjusted returns?

XYLD currently has the higher Sharpe Ratio (2.60 vs 2.08), 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.