XYLP.L vs. SILG.L

Last updated Jul 29, 2026

XYLP.L (Global X S&P 500 Covered Call UCITS ETF) and SILG.L (Global X Silver Miners UCITS ETF USD Accumulating) are both exchange-traded funds - XYLP.L is a Derivative Income fund tracking the Cboe S&P 500 BuyWrite 15% WHT Index, while SILG.L is a Silver fund tracking the Solactive Global Silver Miners Total Return v2 Index. Both are passively managed. Over the past 3 years, XYLP.L returned 8.56%/yr vs 40.68%/yr for SILG.L. Their -0.00 correlation means they have often moved in opposite directions in the past. XYLP.L charges 0.45%/yr vs 0.65%/yr for SILG.L.

Performance

XYLP.L vs. SILG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Global X S&P 500 Covered Call UCITS ETF (XYLP.L) and Global X Silver Miners UCITS ETF USD Accumulating (SILG.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XYLP.L achieves a 8.08% return, which is significantly higher than SILG.L's -9.47% 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%

SILG.L

• 1D: 0.00%
• 1M: -6.01%
• 6M: -30.07%
• YTD: -9.47%
• 1Y: 60.11%
• 3Y*: 40.68%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 21.13%

*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)
SILG.L Global X Silver Miners UCITS ETF USD Accumulating	£1.69M	£1.98M	£4.63M
XYLP.L Global X S&P 500 Covered Call UCITS ETF	£165.83K	£168.59K	£165.34K

XYLP.L vs. SILG.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%
SILG.L Global X Silver Miners UCITS ETF USD Accumulating	-9.47%	153.98%	13.53%	12.94%

Correlation

The correlation between XYLP.L and SILG.L is 0.11, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.11
Correlation (3Y) Balances recent behavior with more history.	0.00
Correlation (All Time) Calculated using the full available price history since Jul 11, 2023	-0.00

The correlation between XYLP.L and SILG.L shifts across timeframes, from -0.00 (all time) to 0.11 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

XYLP.L vs. SILG.L — Risk / Return Rank

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

XYLP.L

XYLP.L Risk / Return Rank: 82
XYLP.L Sharpe Ratio Rank: 81
XYLP.L Sortino Ratio Rank: 78
XYLP.L Omega Ratio Rank: 81
XYLP.L Calmar Ratio Rank: 86
XYLP.L Martin Ratio Rank: 81

SILG.L

SILG.L Risk / Return Rank: 42
SILG.L Sharpe Ratio Rank: 45
SILG.L Sortino Ratio Rank: 46
SILG.L Omega Ratio Rank: 43
SILG.L Calmar Ratio Rank: 43
SILG.L Martin Ratio Rank: 34

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.

XYLP.L vs. SILG.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 Global X Silver Miners UCITS ETF USD Accumulating (SILG.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	SILG.L	Difference
Sharpe ratio: Return per unit of total volatility	1.88	1.12	+0.76
Sortino ratio: Return per unit of downside risk	2.54	1.66	+0.88
Omega ratio: Gain probability vs. loss probability	1.34	1.20	+0.14
Calmar ratio: Return relative to maximum drawdown	3.42	1.55	+1.88
Martin ratio: Return relative to average drawdown	10.71	3.36	+7.35

XYLP.L vs. SILG.L - Sharpe Ratio Comparison

The current XYLP.L Sharpe Ratio is 1.88, which is higher than the SILG.L Sharpe Ratio of 1.12. The chart below compares the historical Sharpe Ratios of XYLP.L and SILG.L, 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

XYLP.L vs. SILG.L - Drawdown Comparison

The maximum XYLP.L drawdown since its inception was -23.57%, smaller than the maximum SILG.L drawdown of -39.09%. Use the drawdown chart below to compare losses from any high point for XYLP.L and SILG.L.

Drawdown Indicators

	XYLP.L	SILG.L	Difference
Max Drawdown Largest peak-to-trough decline	-23.57%	-39.09%	+15.52%
Max Drawdown (1Y) Largest decline over 1 year	-4.39%	-39.09%	+34.70%
Max Drawdown (3Y) Largest decline over 3 years	-19.30%	-39.09%	+19.79%
Current Drawdown Current decline from peak	-0.15%	-35.34%	+35.19%
Average Drawdown Average peak-to-trough decline	-12.94%	-13.22%	+0.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.40%	17.96%	-16.56%

Volatility

XYLP.L vs. SILG.L - Volatility Comparison

The current volatility for Global X S&P 500 Covered Call UCITS ETF (XYLP.L) is 2.34%, while Global X Silver Miners UCITS ETF USD Accumulating (SILG.L) has a volatility of 15.49%. This indicates that XYLP.L experiences smaller price fluctuations and is considered to be less risky than SILG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XYLP.L	SILG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.34%	15.49%	-13.15%
Volatility (6M) Calculated over the trailing 6-month period	6.40%	43.46%	-37.06%
Volatility (1Y) Calculated over the trailing 1-year period	8.01%	54.09%	-46.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.04%	40.49%	-23.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.04%	40.49%	-23.45%

XYLP.L vs. SILG.L - Expense Ratio Comparison

XYLP.L has a 0.45% expense ratio, which is lower than SILG.L's 0.65% expense ratio.

Dividends

XYLP.L vs. SILG.L - Dividend Comparison

XYLP.L's dividend yield for the trailing twelve months is around 8.31%, while SILG.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
SILG.L Global X Silver Miners UCITS ETF USD Accumulating	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

Can I hold both XYLP.L and SILG.L in my portfolio?

XYLP.L and SILG.L have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XYLP.L or SILG.L?

On fees, XYLP.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XYLP.L or SILG.L?

XYLP.L is cheaper with a 0.45% expense ratio, compared with 0.65% for SILG.L.

What is the main difference between XYLP.L and SILG.L?

XYLP.L is categorized as Derivative Income, while SILG.L is Silver. XYLP.L tracks Cboe S&P 500 BuyWrite 15% WHT Index, while SILG.L tracks Solactive Global Silver Miners Total Return v2 Index. Their fees differ too: 0.45% for XYLP.L and 0.65% for SILG.L.