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XYLP.L vs. SPY5.L
Performance
Return for Risk
Dividends
Drawdowns
Volatility

XYLP.L vs. SPY5.L

Last updated Apr 1, 2026

Compare and contrast key facts about Global X S&P 500 Covered Call UCITS ETF (XYLP.L) and State Street SPDR S&P 500 UCITS ETF (SPY5.L).

XYLP.L and SPY5.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XYLP.L is a passively managed fund by Global X that tracks the performance of the Cboe S&P 500 BuyWrite 15% WHT Index. It was launched on Jul 11, 2023. SPY5.L is a passively managed fund by State Street that tracks the performance of the S&P 500. It was launched on Aug 1, 2025. Both XYLP.L and SPY5.L 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

XYLP.L vs. SPY5.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 State Street SPDR S&P 500 UCITS ETF (SPY5.L). The values are adjusted to include any dividend payments, if applicable.

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XYLP.L vs. SPY5.L - Yearly Performance Comparison

2026 (YTD)202520242023
XYLP.L
Global X S&P 500 Covered Call UCITS ETF		-1.08%-1.18%19.03%3.35%
SPY5.L
State Street SPDR S&P 500 UCITS ETF		-4.61%9.06%27.55%10.47%
Different Trading Currencies

XYLP.L is traded in GBP, while SPY5.L is traded in USD. To make them comparable, the SPY5.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, XYLP.L achieves a -1.08% return, which is significantly higher than SPY5.L's -4.61% return.

XYLP.L

1D
0.71%
1M
-2.04%
YTD
-1.08%
6M
4.06%
1Y
5.41%
3Y*
—
5Y*
—
10Y*
—

SPY5.L

1D
0.26%
1M
-4.36%
YTD
-4.61%
6M
-1.05%
1Y
14.48%
3Y*
15.01%
5Y*
12.26%
10Y*
14.62%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Global X S&P 500 Covered Call UCITS ETF

State Street SPDR S&P 500 UCITS ETF

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Often compared with SPY5.L:
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XYLP.L vs. SPY5.L - Expense Ratio Comparison

XYLP.L has a 0.45% expense ratio, which is higher than SPY5.L's 0.09% expense ratio.

XYLP.L
Global X S&P 500 Covered Call UCITS ETF
SPY5.L
State Street SPDR S&P 500 UCITS ETF

Return for Risk

XYLP.L vs. SPY5.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: 2424
Overall Rank
XYLP.L Sharpe Ratio Rank: 2525
Sharpe Ratio Rank
XYLP.L Sortino Ratio Rank: 2323
Sortino Ratio Rank
XYLP.L Omega Ratio Rank: 2626
Omega Ratio Rank
XYLP.L Calmar Ratio Rank: 2323
Calmar Ratio Rank
XYLP.L Martin Ratio Rank: 2323
Martin Ratio Rank
SPY5.L
SPY5.L Risk / Return Rank: 6464
Overall Rank
SPY5.L Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
SPY5.L Sortino Ratio Rank: 6666
Sortino Ratio Rank
SPY5.L Omega Ratio Rank: 6666
Omega Ratio Rank
SPY5.L Calmar Ratio Rank: 5757
Calmar Ratio Rank
SPY5.L Martin Ratio Rank: 6767
Martin Ratio Rank
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. SPY5.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 State Street SPDR S&P 500 UCITS ETF (SPY5.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.

XYLP.LSPY5.LDifference

Sharpe ratio

Return per unit of total volatility

0.46

0.93

-0.47

Sortino ratio

Return per unit of downside risk

0.68

1.34

-0.66

Omega ratio

Gain probability vs. loss probability

1.11

1.19

-0.08

Calmar ratio

Return relative to maximum drawdown

0.51

1.22

-0.71

Martin ratio

Return relative to average drawdown

1.61

4.58

-2.97

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XYLP.L vs. SPY5.L - Sharpe Ratio Comparison

The current XYLP.L Sharpe Ratio is 0.46, which is lower than the SPY5.L Sharpe Ratio of 0.93. The chart below compares the historical Sharpe Ratios of XYLP.L and SPY5.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

XYLP.LSPY5.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.46

0.93

-0.47

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.80

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.89

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.66

0.94

-0.28

Correlation

The correlation between XYLP.L and SPY5.L is 0.66, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

XYLP.L vs. SPY5.L - Dividend Comparison

XYLP.L's dividend yield for the trailing twelve months is around 8.04%, more than SPY5.L's 1.05% yield.

TTM20252024202320222021202020192018201720162015
XYLP.L
Global X S&P 500 Covered Call UCITS ETF		8.04%9.01%6.22%3.98%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
SPY5.L
State Street SPDR S&P 500 UCITS ETF		1.05%0.97%1.06%1.19%1.40%0.99%1.28%1.71%2.20%2.29%1.64%1.73%

Drawdowns

XYLP.L vs. SPY5.L - Drawdown Comparison

The maximum XYLP.L drawdown since its inception was -19.30%, smaller than the maximum SPY5.L drawdown of -25.97%. Use the drawdown chart below to compare losses from any high point for XYLP.L and SPY5.L.

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Drawdown Indicators

XYLP.LSPY5.LDifference

Max Drawdown

Largest peak-to-trough decline

-19.30%

-33.89%

+14.59%

Max Drawdown (1Y)

Largest decline over 1 year

-8.89%

-11.75%

+2.86%

Max Drawdown (5Y)

Largest decline over 5 years

—

-24.37%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-33.89%

—

Current Drawdown

Current decline from peak

-7.44%

-7.67%

+0.23%

Average Drawdown

Average peak-to-trough decline

-5.02%

-3.74%

-1.28%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.80%

2.47%

+0.33%

Volatility

XYLP.L vs. SPY5.L - Volatility Comparison

The current volatility for Global X S&P 500 Covered Call UCITS ETF (XYLP.L) is 2.97%, while State Street SPDR S&P 500 UCITS ETF (SPY5.L) has a volatility of 4.25%. This indicates that XYLP.L experiences smaller price fluctuations and is considered to be less risky than SPY5.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.LSPY5.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.97%

4.25%

-1.28%

Volatility (6M)

Calculated over the trailing 6-month period

5.92%

8.74%

-2.82%

Volatility (1Y)

Calculated over the trailing 1-year period

11.81%

15.56%

-3.75%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

10.60%

15.31%

-4.71%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

10.60%

16.45%

-5.85%