XYLG vs. SHLD

Last updated Aug 4, 2026

XYLG (Global X S&P 500 Covered Call & Growth ETF) and SHLD (Global X Defense Tech ETF) are both exchange-traded funds - XYLG is a Derivative Income fund tracking the Cboe S&P 500 Half BuyWrite Index, while SHLD is a Aerospace & Defense fund tracking the Global X Defense Tech Index. Both are passively managed. Over the past year, XYLG returned 21.27% vs 6.46% for SHLD. Their 0.43 correlation means their historical movements had little consistent relationship. XYLG charges 0.35%/yr vs 0.50%/yr for SHLD.

Performance

XYLG vs. SHLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X S&P 500 Covered Call & Growth ETF (XYLG) and Global X Defense Tech ETF (SHLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XYLG achieves a 10.03% return, which is significantly higher than SHLD's -0.33% return.

XYLG

• 1D: 0.94%
• 1M: 1.94%
• 6M: 8.16%
• YTD: 10.03%
• 1Y: 21.27%
• 3Y*: 16.39%
• 5Y*: 10.43%
• 10Y*: —
• ALL TIME*: 13.56%

SHLD

• 1D: 1.77%
• 1M: 0.64%
• 6M: -13.25%
• YTD: -0.33%
• 1Y: 6.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 40.06%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SHLD Global X Defense Tech ETF	$69.07M	$65.06M	$107.90M
XYLG Global X S&P 500 Covered Call & Growth ETF	$324.88K	$371.22K	$506.01K

XYLG vs. SHLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
XYLG Global X S&P 500 Covered Call & Growth ETF	10.03%	12.93%	22.31%	3.82%
SHLD Global X Defense Tech ETF	-0.33%	74.16%	35.03%	12.89%

Correlation

The correlation between XYLG and SHLD is 0.40, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.40
Correlation (All Time) Calculated using the full available price history since Sep 13, 2023	0.43

XYLG vs. SHLD - Sectors Allocation Comparison

Sectors	XYLG	SHLD
Technology	38.3%	11.6%
Financial Services	12.3%	-
Communication Services	9.3%	-
Healthcare	9.2%	-
Consumer Cyclical	8.8%	-
Industrials	7.8%	88.4%
Consumer Defensive	4.7%	-
Energy	3.4%	-
Utilities	2.7%	-
Real Estate	2.0%	-
Basic Materials	1.9%	-

Return for Risk

XYLG vs. SHLD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

XYLG

XYLG Risk / Return Rank: 86
XYLG Sharpe Ratio Rank: 87
XYLG Sortino Ratio Rank: 86
XYLG Omega Ratio Rank: 86
XYLG Calmar Ratio Rank: 82
XYLG Martin Ratio Rank: 90

SHLD

SHLD Risk / Return Rank: 16
SHLD Sharpe Ratio Rank: 17
SHLD Sortino Ratio Rank: 17
SHLD Omega Ratio Rank: 17
SHLD Calmar Ratio Rank: 16
SHLD Martin Ratio Rank: 15

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

XYLG vs. SHLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X S&P 500 Covered Call & Growth ETF (XYLG) and Global X Defense Tech ETF (SHLD). 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.

	XYLG	SHLD	Difference
Sharpe ratio: Return per unit of total volatility	2.10	0.26	+1.85
Sortino ratio: Return per unit of downside risk	2.96	0.55	+2.41
Omega ratio: Gain probability vs. loss probability	1.39	1.06	+0.32
Calmar ratio: Return relative to maximum drawdown	3.08	0.26	+2.83
Martin ratio: Return relative to average drawdown	14.87	0.58	+14.30

XYLG vs. SHLD - Sharpe Ratio Comparison

The current XYLG Sharpe Ratio is 2.10, which is higher than the SHLD Sharpe Ratio of 0.26. The chart below compares the historical Sharpe Ratios of XYLG and SHLD, 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

XYLG vs. SHLD - Drawdown Comparison

The maximum XYLG drawdown since its inception was -21.30%, smaller than the maximum SHLD drawdown of -25.40%. Use the drawdown chart below to compare losses from any high point for XYLG and SHLD.

Drawdown Indicators

	XYLG	SHLD	Difference
Max Drawdown Largest peak-to-trough decline	-21.30%	-25.40%	+4.10%
Max Drawdown (1Y) Largest decline over 1 year	-6.93%	-25.40%	+18.47%
Max Drawdown (3Y) Largest decline over 3 years	-17.42%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.30%	—	—
Current Drawdown Current decline from peak	0.00%	-17.23%	+17.23%
Average Drawdown Average peak-to-trough decline	-4.01%	-4.17%	+0.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.43%	11.18%	-9.75%

Volatility

XYLG vs. SHLD - Volatility Comparison

The current volatility for Global X S&P 500 Covered Call & Growth ETF (XYLG) is 2.83%, while Global X Defense Tech ETF (SHLD) has a volatility of 6.57%. This indicates that XYLG experiences smaller price fluctuations and is considered to be less risky than SHLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XYLG	SHLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.83%	6.57%	-3.74%
Volatility (6M) Calculated over the trailing 6-month period	8.31%	20.20%	-11.89%
Volatility (1Y) Calculated over the trailing 1-year period	10.18%	25.43%	-15.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.06%	21.57%	-7.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.79%	21.57%	-7.78%

XYLG vs. SHLD - Expense Ratio Comparison

XYLG has a 0.35% expense ratio, which is lower than SHLD's 0.50% expense ratio.

Dividends

XYLG vs. SHLD - Dividend Comparison

XYLG's dividend yield for the trailing twelve months is around 12.98%, more than SHLD's 0.66% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
SHLD Global X Defense Tech ETF	0.66%	0.55%	0.53%	0.26%	0.00%	0.00%	0.00%
XYLG Global X S&P 500 Covered Call & Growth ETF	12.98%	13.94%	23.65%	4.90%	6.43%	7.40%	1.39%

Frequently Asked Questions

Can I hold both XYLG and SHLD in my portfolio?

XYLG and SHLD have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XYLG or SHLD?

SHLD has higher volatility (6.57%) compared to XYLG (2.83%). In terms of maximum drawdown, XYLG dropped -21.30% vs SHLD's -25.40%.

Which ETF is better, XYLG or SHLD?

On 1-year performance, XYLG leads with 21.27% vs 6.46% for SHLD. On fees, XYLG is cheaper at 0.35% per year. On volatility, XYLG has been the lower-risk option at 2.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XYLG or SHLD?

Over the 1-year period, XYLG has performed better with a 21.27% return vs 6.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XYLG or SHLD?

XYLG is cheaper with a 0.35% expense ratio, compared with 0.50% for SHLD.

Which ETF pays a higher dividend yield, XYLG or SHLD?

XYLG has the higher dividend yield at 12.98%, compared with 0.66% for SHLD.

What is the main difference between XYLG and SHLD?

XYLG is categorized as Derivative Income, while SHLD is Aerospace & Defense. XYLG tracks Cboe S&P 500 Half BuyWrite Index, while SHLD tracks Global X Defense Tech Index. Their fees differ too: 0.35% for XYLG and 0.50% for SHLD.

Which has better risk-adjusted returns?

XYLG currently has the higher Sharpe Ratio (2.10 vs 0.26), 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.