XYLU.L vs. SPUT
XYLU.L (Global X S&P 500 Covered Call UCITS ETF USD) and SPUT (Innovator Equity Premium Income Daily PutWrite ETF) are both Derivative Income funds. XYLU.L is passively managed, while SPUT is actively managed. Over the past year, XYLU.L returned 18.07% vs 18.92% for SPUT. At a 0.47 correlation, their price movements are largely independent. XYLU.L charges 0.45%/yr vs 0.79%/yr for SPUT.
Performance
XYLU.L vs. SPUT - Performance Comparison
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Returns By Period
In the year-to-date period, XYLU.L achieves a 5.28% return, which is significantly lower than SPUT's 7.42% return.
XYLU.L
- 1D
- 0.03%
- 1M
- 2.15%
- YTD
- 5.28%
- 6M
- 6.77%
- 1Y
- 18.07%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPUT
- 1D
- 0.15%
- 1M
- 2.64%
- YTD
- 7.42%
- 6M
- 7.75%
- 1Y
- 18.92%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XYLU.L vs. SPUT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
XYLU.L Global X S&P 500 Covered Call UCITS ETF USD | 5.28% | 13.02% |
SPUT Innovator Equity Premium Income Daily PutWrite ETF | 7.42% | 13.20% |
Correlation
The correlation between XYLU.L and SPUT is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Mar 17, 2025 | 0.47 |
The correlation between XYLU.L and SPUT has been stable across timeframes, ranging from 0.47 to 0.51 - a consistent structural relationship.
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Return for Risk
XYLU.L vs. SPUT — Risk / Return Rank
XYLU.L
SPUT
XYLU.L vs. SPUT - 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 Innovator Equity Premium Income Daily PutWrite ETF (SPUT). 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 | SPUT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.23 | ||
| Omega ratioGain probability vs. loss probability | 1.56 | 1.53 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.48 | 4.98 | -1.51 |
| Martin ratioReturn relative to average drawdown | 18.28 | 22.75 | -4.47 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XYLU.L | SPUT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.61 | 2.63 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.11 | 1.55 | -0.44 |
Drawdowns
XYLU.L vs. SPUT - Drawdown Comparison
The maximum XYLU.L drawdown since its inception was -17.20%, which is greater than SPUT's maximum drawdown of -10.55%. Use the drawdown chart below to compare losses from any high point for XYLU.L and SPUT.
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Drawdown Indicators
| XYLU.L | SPUT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.20% | -10.55% | -6.65% |
Max Drawdown (1Y)Largest decline over 1 year | -5.17% | -3.81% | -1.36% |
Current DrawdownCurrent decline from peak | 0.00% | -0.19% | +0.19% |
Average DrawdownAverage peak-to-trough decline | -2.02% | -0.88% | -1.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.99% | 0.83% | +0.16% |
Volatility
XYLU.L vs. SPUT - Volatility Comparison
Global X S&P 500 Covered Call UCITS ETF USD (XYLU.L) has a higher volatility of 1.52% compared to Innovator Equity Premium Income Daily PutWrite ETF (SPUT) at 1.44%. This indicates that XYLU.L's price experiences larger fluctuations and is considered to be riskier than SPUT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XYLU.L | SPUT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.52% | 1.44% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 5.45% | 5.46% | -0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.89% | 7.23% | -0.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.44% | 11.24% | -0.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.44% | 11.24% | -0.80% |
XYLU.L vs. SPUT - Expense Ratio Comparison
XYLU.L has a 0.45% expense ratio, which is lower than SPUT's 0.79% expense ratio.
Dividends
XYLU.L vs. SPUT - Dividend Comparison
XYLU.L's dividend yield for the trailing twelve months is around 10.27%, more than SPUT's 5.02% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
SPUT Innovator Equity Premium Income Daily PutWrite ETF | 5.02% | 4.66% | 0.00% | 0.00% |
XYLU.L Global X S&P 500 Covered Call UCITS ETF USD | 10.27% | 10.48% | 8.49% | 3.88% |
Frequently Asked Questions
XYLU.L and SPUT have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
XYLU.L is cheaper with a 0.45% expense ratio, compared with 0.79% for SPUT.
They also come from different issuers: Global X and Innovator. Their fees differ too: 0.45% for XYLU.L and 0.79% for SPUT.
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