XYLP.L vs. XYLU.L
XYLP.L (Global X S&P 500 Covered Call UCITS ETF) and XYLU.L (Global X S&P 500 Covered Call UCITS ETF USD) are both Derivative Income funds from Global X tracking the Cboe S&P 500 BuyWrite 15% WHT Index. Both are passively managed. Over the past 3 years, XYLP.L returned 8.56%/yr vs 10.07%/yr for XYLU.L. Their 0.76 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.45% expense ratio.
Performance
XYLP.L vs. XYLU.L - Performance Comparison
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Different Trading Currencies
XYLP.L is traded in GBP, while XYLU.L is traded in USD. To make them comparable, the XYLU.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 8.08% return, which is significantly lower than XYLU.L's 9.98% 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%
XYLU.L
- 1D
- 0.00%
- 1M
- 2.25%
- 6M
- 11.46%
- YTD
- 9.98%
- 1Y
- 18.52%
- 3Y*
- 10.07%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 10.68%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| £165.83K | £168.59K | £165.34K | |
| £146.38K | £175.58K | £195.71K |
XYLP.L vs. XYLU.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% |
XYLU.L Global X S&P 500 Covered Call UCITS ETF USD | 9.98% | 0.17% | 20.18% | 2.91% |
Correlation
The correlation between XYLP.L and XYLU.L is 0.67, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.67 |
Correlation (3Y) Balances recent behavior with more history. | 0.76 |
Correlation (All Time) Calculated using the full available price history since Jul 11, 2023 | 0.76 |
The correlation between XYLP.L and XYLU.L has been stable across timeframes, ranging from 0.67 to 0.76 - a consistent structural relationship.
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Return for Risk
XYLP.L vs. XYLU.L — Risk / Return Rank
XYLP.L
XYLU.L
XYLP.L vs. XYLU.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 S&P 500 Covered Call UCITS ETF USD (XYLU.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 | XYLU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.20 | ||
| Sortino ratioReturn per unit of downside risk | -0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.39 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.42 | 5.00 | -1.58 |
| Martin ratioReturn relative to average drawdown | 10.71 | 15.93 | -5.22 |
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Drawdowns
XYLP.L vs. XYLU.L - Drawdown Comparison
The maximum XYLP.L drawdown since its inception was -23.57%, which is greater than XYLU.L's maximum drawdown of -19.99%. Use the drawdown chart below to compare losses from any high point for XYLP.L and XYLU.L.
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Drawdown Indicators
| XYLP.L | XYLU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.57% | -19.99% | -3.58% |
Max Drawdown (1Y)Largest decline over 1 year | -4.39% | -3.71% | -0.68% |
Max Drawdown (3Y)Largest decline over 3 years | -19.30% | -19.99% | +0.69% |
Current DrawdownCurrent decline from peak | -0.15% | -0.13% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -12.94% | -4.28% | -8.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.40% | 1.16% | +0.24% |
Volatility
XYLP.L vs. XYLU.L - Volatility Comparison
The current volatility for Global X S&P 500 Covered Call UCITS ETF (XYLP.L) is 2.34%, while Global X S&P 500 Covered Call UCITS ETF USD (XYLU.L) has a volatility of 2.51%. This indicates that XYLP.L experiences smaller price fluctuations and is considered to be less risky than XYLU.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 | XYLU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.34% | 2.51% | -0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 6.40% | 7.23% | -0.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.01% | 8.97% | -0.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.04% | 11.29% | +5.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.04% | 11.29% | +5.75% |
XYLP.L vs. XYLU.L - Expense Ratio Comparison
Both XYLP.L and XYLU.L have an expense ratio of 0.45%.
Dividends
XYLP.L vs. XYLU.L - Dividend Comparison
XYLP.L's dividend yield for the trailing twelve months is around 8.31%, less than XYLU.L's 11.75% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
XYLP.L Global X S&P 500 Covered Call UCITS ETF | 8.31% | 9.01% | 6.22% | 3.98% |
XYLU.L Global X S&P 500 Covered Call UCITS ETF USD | 11.75% | 10.48% | 7.24% | 3.88% |
Frequently Asked Questions
XYLP.L and XYLU.L have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.45% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
XYLP.L and XYLU.L have the same expense ratio: 0.45% per year.
Both ETFs track Cboe S&P 500 BuyWrite 15% WHT Index.
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