XYLU.L vs. BANK.TO

Last updated Jun 5, 2026

XYLU.L (Global X S&P 500 Covered Call UCITS ETF USD) and BANK.TO (Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund) are both Derivative Income funds - XYLU.L tracks the Cboe S&P 500 BuyWrite 15% WHT Index while BANK.TO tracks the Solactive Canadian Core Financials Equal Weight Index. Both are passively managed. Over the past year, XYLU.L returned 18.07% vs 55.28% for BANK.TO. At a 0.27 correlation, their price movements are largely independent. XYLU.L charges 0.45%/yr vs 0.60%/yr for BANK.TO.

Performance

XYLU.L vs. BANK.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X S&P 500 Covered Call UCITS ETF USD (XYLU.L) and Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

XYLU.L is traded in USD, while BANK.TO is traded in CAD. To make them comparable, the BANK.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XYLU.L achieves a 5.28% return, which is significantly lower than BANK.TO's 17.65% return.

XYLU.L

• 1D: 0.03%
• 1M: 2.15%
• YTD: 5.28%
• 6M: 6.77%
• 1Y: 18.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BANK.TO

• 1D: 1.46%
• 1M: 4.69%
• YTD: 17.65%
• 6M: 24.34%
• 1Y: 55.28%
• 3Y*: 31.57%
• 5Y*: —
• 10Y*: —

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

XYLU.L vs. BANK.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
XYLU.L Global X S&P 500 Covered Call UCITS ETF USD	5.28%	7.85%	19.71%	0.64%
BANK.TO Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund	17.65%	47.76%	17.80%	5.68%

Correlation

The correlation between XYLU.L and BANK.TO is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (All Time) Calculated using the full available price history since Jul 17, 2023	0.27

Return for Risk

XYLU.L vs. BANK.TO — Risk / Return Rank

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

XYLU.L

XYLU.L Risk / Return Rank: 83
XYLU.L Sharpe Ratio Rank: 82
XYLU.L Sortino Ratio Rank: 88
XYLU.L Omega Ratio Rank: 89
XYLU.L Calmar Ratio Rank: 71
XYLU.L Martin Ratio Rank: 87

BANK.TO

BANK.TO Risk / Return Rank: 96
BANK.TO Sharpe Ratio Rank: 97
BANK.TO Sortino Ratio Rank: 97
BANK.TO Omega Ratio Rank: 97
BANK.TO Calmar Ratio Rank: 94
BANK.TO Martin Ratio Rank: 95

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.

XYLU.L vs. BANK.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X S&P 500 Covered Call UCITS ETF USD (XYLU.L) and Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK.TO). 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.

	XYLU.L	BANK.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.61	4.12	-1.51
Sortino ratio: Return per unit of downside risk	3.93	5.62	-1.69
Omega ratio: Gain probability vs. loss probability	1.56	1.71	-0.16
Calmar ratio: Return relative to maximum drawdown	3.48	6.25	-2.77
Martin ratio: Return relative to average drawdown	18.28	27.44	-9.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XYLU.L vs. BANK.TO - Sharpe Ratio Comparison

The current XYLU.L Sharpe Ratio is 2.61, which is lower than the BANK.TO Sharpe Ratio of 4.12. The chart below compares the historical Sharpe Ratios of XYLU.L and BANK.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	XYLU.L	BANK.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.61	4.12	-1.51
Sharpe Ratio (All Time) Calculated using the full available price history	1.11	0.78	+0.33

Drawdowns

XYLU.L vs. BANK.TO - Drawdown Comparison

The maximum XYLU.L drawdown since its inception was -17.20%, smaller than the maximum BANK.TO drawdown of -34.80%. Use the drawdown chart below to compare losses from any high point for XYLU.L and BANK.TO.

Drawdown Indicators

	XYLU.L	BANK.TO	Difference
Max Drawdown Largest peak-to-trough decline	-17.20%	-34.80%	+17.60%
Max Drawdown (1Y) Largest decline over 1 year	-5.17%	-8.89%	+3.72%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.73%	—
Current Drawdown Current decline from peak	0.00%	-0.33%	+0.33%
Average Drawdown Average peak-to-trough decline	-2.02%	-11.64%	+9.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.99%	2.02%	-1.03%

Volatility

XYLU.L vs. BANK.TO - Volatility Comparison

The current volatility for Global X S&P 500 Covered Call UCITS ETF USD (XYLU.L) is 1.52%, while Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK.TO) has a volatility of 4.53%. This indicates that XYLU.L experiences smaller price fluctuations and is considered to be less risky than BANK.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XYLU.L	BANK.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.52%	4.53%	-3.01%
Volatility (6M) Calculated over the trailing 6-month period	5.45%	11.46%	-6.01%
Volatility (1Y) Calculated over the trailing 1-year period	6.89%	13.48%	-6.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.44%	18.95%	-8.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.44%	18.95%	-8.51%

XYLU.L vs. BANK.TO - Expense Ratio Comparison

XYLU.L has a 0.45% expense ratio, which is lower than BANK.TO's 0.60% expense ratio.

Dividends

XYLU.L vs. BANK.TO - Dividend Comparison

XYLU.L's dividend yield for the trailing twelve months is around 10.27%, less than BANK.TO's 12.82% yield.

Position	TTM	2025	2024	2023	2022
BANK.TO Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund	12.82%	13.73%	15.28%	13.60%	10.52%
XYLU.L Global X S&P 500 Covered Call UCITS ETF USD	10.27%	10.48%	8.49%	3.88%	0.00%

Frequently Asked Questions

Can I hold both XYLU.L and BANK.TO in my portfolio?

XYLU.L and BANK.TO have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XYLU.L or BANK.TO?

On fees, XYLU.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, XYLU.L or BANK.TO?

XYLU.L is cheaper with a 0.45% expense ratio, compared with 0.60% for BANK.TO.

What is the main difference between XYLU.L and BANK.TO?

XYLU.L tracks Cboe S&P 500 BuyWrite 15% WHT Index, while BANK.TO tracks Solactive Canadian Core Financials Equal Weight Index. They also come from different issuers: Global X and Evolve. Their fees differ too: 0.45% for XYLU.L and 0.60% for BANK.TO.