XYLP.L vs. ISPE.L
XYLP.L (Global X S&P 500 Covered Call UCITS ETF) and ISPE.L (iShares S&P 500 Equal Weight UCITS ETF GBP Hedged (Acc)) are both exchange-traded funds - XYLP.L is a Derivative Income fund tracking the Cboe S&P 500 BuyWrite 15% WHT Index, while ISPE.L is a S&P 500 fund tracking the S&P 500 Equal Weight Index (USD). Both are passively managed. Over the past 3 years, XYLP.L returned 8.56%/yr vs 13.03%/yr for ISPE.L. Their 0.22 correlation means their historical movements had little consistent relationship. XYLP.L charges 0.45%/yr vs 0.17%/yr for ISPE.L.
Performance
XYLP.L vs. ISPE.L - Performance Comparison
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Returns By Period
In the year-to-date period, XYLP.L achieves a 8.08% return, which is significantly lower than ISPE.L's 13.58% return.
XYLP.L
- 1D
- 0.00%
- 1M
- 1.32%
- 6M
- 9.29%
- YTD
- 8.08%
- 1Y
- 14.95%
- 3Y*
- 8.56%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 0.25%
ISPE.L
- 1D
- 1.47%
- 1M
- 2.28%
- 6M
- 10.29%
- YTD
- 13.58%
- 1Y
- 17.62%
- 3Y*
- 13.03%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 11.11%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| £1.13M | £1.14M | £1.14M | |
| £165.83K | £168.59K | £165.34K |
XYLP.L vs. ISPE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
XYLP.L Global X S&P 500 Covered Call UCITS ETF | 8.08% | -1.18% | 19.03% | -20.73% |
ISPE.L iShares S&P 500 Equal Weight UCITS ETF GBP Hedged (Acc) | 13.58% | 11.30% | 11.48% | 5.68% |
Correlation
The correlation between XYLP.L and ISPE.L is 0.20, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.20 |
Correlation (3Y) Balances recent behavior with more history. | 0.22 |
Correlation (All Time) Calculated using the full available price history since Jul 11, 2023 | 0.22 |
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Return for Risk
XYLP.L vs. ISPE.L — Risk / Return Rank
XYLP.L
ISPE.L
XYLP.L vs. ISPE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X S&P 500 Covered Call UCITS ETF (XYLP.L) and iShares S&P 500 Equal Weight UCITS ETF GBP Hedged (Acc) (ISPE.L). 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.
| XYLP.L | ISPE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.25 | ||
| Sortino ratioReturn per unit of downside risk | +0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.29 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.42 | 2.54 | +0.88 |
| Martin ratioReturn relative to average drawdown | 10.71 | 9.13 | +1.58 |
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Drawdowns
XYLP.L vs. ISPE.L - Drawdown Comparison
The maximum XYLP.L drawdown since its inception was -23.57%, which is greater than ISPE.L's maximum drawdown of -18.22%. Use the drawdown chart below to compare losses from any high point for XYLP.L and ISPE.L.
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Drawdown Indicators
| XYLP.L | ISPE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.57% | -18.22% | -5.35% |
Max Drawdown (1Y)Largest decline over 1 year | -4.39% | -6.90% | +2.51% |
Max Drawdown (3Y)Largest decline over 3 years | -19.30% | -18.22% | -1.08% |
Current DrawdownCurrent decline from peak | -0.15% | 0.00% | -0.15% |
Average DrawdownAverage peak-to-trough decline | -12.94% | -3.70% | -9.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.40% | 1.92% | -0.52% |
Volatility
XYLP.L vs. ISPE.L - Volatility Comparison
The current volatility for Global X S&P 500 Covered Call UCITS ETF (XYLP.L) is 2.34%, while iShares S&P 500 Equal Weight UCITS ETF GBP Hedged (Acc) (ISPE.L) has a volatility of 3.02%. This indicates that XYLP.L experiences smaller price fluctuations and is considered to be less risky than ISPE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XYLP.L | ISPE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.34% | 3.02% | -0.68% |
Volatility (6M)Calculated over the trailing 6-month period | 6.40% | 8.03% | -1.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.01% | 10.83% | -2.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.04% | 14.61% | +2.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.04% | 14.61% | +2.43% |
XYLP.L vs. ISPE.L - Expense Ratio Comparison
XYLP.L has a 0.45% expense ratio, which is higher than ISPE.L's 0.17% expense ratio.
Dividends
XYLP.L vs. ISPE.L - Dividend Comparison
XYLP.L's dividend yield for the trailing twelve months is around 8.31%, while ISPE.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
ISPE.L iShares S&P 500 Equal Weight UCITS ETF GBP Hedged (Acc) | 0.00% | 0.00% | 0.00% | 0.00% |
XYLP.L Global X S&P 500 Covered Call UCITS ETF | 8.31% | 9.01% | 6.22% | 3.98% |
Frequently Asked Questions
XYLP.L and ISPE.L have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ISPE.L is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ISPE.L is cheaper with a 0.17% expense ratio, compared with 0.45% for XYLP.L.
XYLP.L is categorized as Derivative Income, while ISPE.L is S&P 500. XYLP.L tracks Cboe S&P 500 BuyWrite 15% WHT Index, while ISPE.L tracks S&P 500 Equal Weight Index (USD). They also come from different issuers: Global X and iShares. Their fees differ too: 0.45% for XYLP.L and 0.17% for ISPE.L.
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