LIVE
XYLD
Global X S&P 500 Covered Call ETF · ETF / Covered Call Income
$40.94
+1.83% this month
VERSUS
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COMPARE
SPY
SPDR S&P 500 ETF Trust · ETF / S&P 500 Index
$745.40
+1.10% this month
Scoreboard verdict
Across expense ratio, momentum, yield, fund size, risk
XYLD
2
SPY
3
Comparison scoreboard
SPY LEADS 3/5Exp. Ratio
XYLD 0.60%
SPY ✓0.09%
1Y Return
XYLD +16.62%
SPY ✓+21.49%
Div. Yield
XYLD ✓9.29%
SPY 1.01%
AUM
XYLD $3.2B
SPY ✓$781.19B
Beta
XYLD ✓0.50
SPY 1.02
Metrics last refreshed: 7/9/2026
Quick take
XYLD vs SPY Stock Comparison: AI Score, Valuation, Performance and Upside
XYLD and SPY represent the fundamental trade-off between income and total return in S&P 500 investing. XYLD generates 8-10% monthly income by capping upside through covered calls. SPY generates 1.5-2% dividend income plus uncapped capital appreciation averaging 10% annually. SPY's total return has dramatically outpaced XYLD over most multi-year periods. The choice is between current cash flow (XYLD) and total long-term wealth creation (SPY).
XYLD vs SPY — Global X S&P 500 Covered Call ETF (selling monthly S&P 500 call options for 8-10% income yield with capped upside participation) versus SPDR S&P 500 ETF (uncapped full S&P 500 total return participation averaging 10% annually with 1.5-2% dividend yield at 0.09% expense ratio).
Live analysis · updated 7/9/2026
SPY holds the edge across 3 of 5 key metrics in this comparison. SPY has delivered stronger 1-year price return (+21.49% vs +16.62% for XYLD).
Normalized 1Y performance
XYLD
SPY
Recent returns
XYLD
SPY
Who should consider this stock?
XYLD may suit investors who:
- →need current income exceeding SPY's 1.5-2% dividend yield — retirees or income-focused investors managing near-term cash flow needs may value XYLD's 8-10% distribution
- →believe the S&P 500 will be flat to moderately declining — XYLD's premium income provides outperformance vs SPY in neutral or slightly down markets
- →have specifically evaluated that their income needs exceed available portfolio appreciation, making covered call income a pragmatic tool for their specific situation
- →understand total return implications and accept lower long-term compounding in exchange for higher near-term cash flow from their S&P 500 allocation
SPY may suit investors who:
- →prioritize total return compounding — SPY's uncapped participation in S&P 500 appreciation averages 10% annually, dramatically outpacing XYLD's capped total return over long periods
- →can generate income from other sources (bonds, dividends from separate holdings) without sacrificing SPY's capital appreciation potential
- →want the simplest, most liquid, most recognized US equity market exposure for any investment account type
- →are comfortable with 1.5-2% dividend yield and using portfolio withdrawal strategies rather than high-yield income ETFs for cash flow needs
Performance & AI score
| Metric | XYLD | SPY |
|---|---|---|
| ETF score | 45.0 | 83.0 |
| Latest close | $40.94 | $745.40 |
| 1M return | +1.83% | +1.10% |
| 6M return | +5.73% | +8.32% |
| 1Y return | +16.62% | +21.49% |
$10,000 invested — hypothetical growth (dividends reinvested)
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | XYLD | SPY |
|---|---|---|
| 1Y ago | $13.04K (+30.4%) started 2025-07-08 | $12.28K (+22.8%) started 2025-07-08 |
| 5Y ago | $29.79K (+197.9%) started 2021-07-08 | $19.85K (+98.5%) started 2021-07-08 |
| 10Y ago | $87.81K (+778.1%) started 2016-07-08 | $48.99K (+389.9%) started 2016-07-08 |
Hypothetical — past performance does not guarantee future results.
Fund characteristics
| Metric | XYLD | SPY |
|---|---|---|
| Expense ratio | 0.60% | 0.09% |
| Total assets (AUM) | $3.2B | $781.19B |
| Dividend yield | 9.29% | 1.01% |
| Trailing P/E | 26.90 | 26.81 |
| Beta | 0.50 | 1.02 |
| 52-week change | 16.62% | 21.49% |
Risk & fund metrics
| Metric | XYLD | SPY |
|---|---|---|
| 1Y return | +16.62% | +21.49% |
| 6M return | +5.73% | +8.32% |
| 1M return | +1.83% | +1.10% |
| 1Y Sharpe ratio | 1.62 | 1.26 |
| Beta | 0.50 | 1.02 |
| Dividend yield | 9.29% | 1.01% |
| 5Y CAGR | +7.58% | +13.10% |
Drawdown & downside risk
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
1Y risk snapshot
XYLD max drawdown5.29%
SPY max drawdown8.88%
XYLD max wkly drop2.27%
SPY max wkly drop3.82%
5Y risk snapshot
XYLD max drawdown18.66%
SPY max drawdown24.50%
XYLD max wkly drop9.85%
SPY max wkly drop11.50%
10Y risk snapshot
XYLD max drawdown33.46%
SPY max drawdown33.72%
XYLD max wkly drop17.39%
SPY max wkly drop17.97%
Performance metrics by period
| Period | Metric | XYLD | SPY |
|---|---|---|---|
| 1Y | Growth | +16.62% | +21.49% |
| CAGR | +16.63% | +21.51% | |
| Sharpe ratio | 1.62 | 1.26 | |
| Max drawdown | 5.29% | 8.88% | |
| Max daily drop | 1.39% | 2.70% | |
| Max wkly drop | 2.27% | 3.82% | |
| 5Y | Growth | +44.08% | +85.08% |
| CAGR | +7.58% | +13.10% | |
| Sharpe ratio | 0.31 | 0.54 | |
| Max drawdown | 18.66% | 24.50% | |
| Max daily drop | 5.85% | 5.85% | |
| Max wkly drop | 9.85% | 11.50% | |
| 10Y | Growth | +121.33% | +311.51% |
| CAGR | +8.27% | +15.20% | |
| Sharpe ratio | 0.32 | 0.63 | |
| Max drawdown | 33.46% | 33.72% | |
| Max daily drop | 11.75% | 10.94% | |
| Max wkly drop | 17.39% | 17.97% |
Fund overview
| Category | XYLD | SPY |
|---|---|---|
| Fund name | Global X S&P 500 Covered Call ETF | State Street SPDR S&P 500 ETF Trust |
| Type | ETF | ETF |
| Expense ratio | 0.60% | 0.09% |
| Total assets (AUM) | $3.2B | $781.19B |
| Dividend yield | 9.29% | 1.01% |
XYLD strengths
- →8-10% monthly income distribution from S&P 500: XYLD provides high income from an established large-cap index while maintaining blue-chip stock quality
- →S&P 500 quality with income: XYLD's underlying S&P 500 stocks provide better dividend income than QYLD's Nasdaq-100 (which has minimal dividends), making XYLD's premium income more supplemental to underlying dividends
- →Some downside protection from premiums: option premiums provide a cushion in down markets — XYLD typically falls less than SPY in moderate market declines
SPY strengths
- →Full S&P 500 total return participation: SPY captures 100% of S&P 500 capital appreciation plus dividends — averaging approximately 10% annually over 30 years including dividends
- →Uncapped upside in any market condition: SPY participates fully in every bull market move — no covered call strike limiting gains
- →0.09% expense ratio at maximum liquidity: SPY is the most liquid ETF — ideal for tactical and strategic allocations
Risks to watch — XYLD
- →Capped upside misses S&P 500 bull markets: XYLD's call selling caps appreciation at the strike — in a strong S&P 500 bull market, XYLD significantly underperforms SPY on total return
- →Total return significantly below SPY over time: SPY's uncapped appreciation has historically dramatically outpaced XYLD's premium income + capped upside over 5-10+ year periods
- →Expense ratio disadvantage: XYLD charges 0.60% vs SPY's 0.09% — a meaningful fee difference compounding over time
Risks to watch — SPY
- →Minimal current income (~1.5-2% yield): SPY's dividend yield alone is too low for income-dependent investors — XYLD's 8-10% yield addresses the income gap
- →Full downside exposure in bear markets: SPY declines proportionally with the S&P 500 — no premium income buffers initial losses as XYLD's option premiums do
- →Concentration in technology mega-caps: top 5-6 companies represent 25%+ of SPY — technology sector concentration creates systemic risk in technology bear markets
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