Dividend comparison

RYLD vs DIVO: Which Is Better for Income?

Fees, yield, total returns, drawdowns, holdings overlap and dividend history for Global X - Russell 2000 Covered Call ETF and Amplify CWP Enhanced Dividend Income ETF, side by side. Updated October 21, 2026.

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RYLD vs DIVO: key differences
The short answer, from the latest data on this page.
  • Fees. DIVO is cheaper at 0.56% a year versus 0.60% for RYLD. On $10,000 that is $4 a year less in fees.
  • Income. RYLD pays more income, yielding 12.32% over the last twelve months versus 6.28% for DIVO. That is about $604 more a year on $10,000. RYLD pays monthly, DIVO pays quarterly.
  • Performance. Over the last 5 years, DIVO returned 59.6% versus -1.1% for RYLD, with dividends reinvested. $10,000 would have grown to $15,959 in DIVO and $9,889 in RYLD.
  • Risk. RYLD has been the bumpier ride. Its worst peak-to-trough decline over the last 5 years was -21.5%, against -13.7% for DIVO.
  • Diversification. DIVO holds 30 positions and RYLD holds 8.
  • Dividend growth. DIVO grew its yearly payout 11.9% a year over the last 4 years, versus -9.1% for RYLD.
  • Size. DIVO is the larger fund with $8.0 billion in assets, against $1.3 billion for RYLD.

Bottom line: RYLD fits better if you care most about more income today. DIVO fits better if you care most about lower fees, stronger 5-year returns, smaller drawdowns, faster dividend growth and broader diversification.

Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
MetricRYLD
Global X - Russell 2000 Covered Call ETF
DIVO
Amplify CWP Enhanced Dividend Income ETF
Dividend yield (TTM)12.32%6.28%
Dividend / share (TTM)$1.87$3.02
Payout frequencyMonthlyQuarterly
Last dividend$0.1475 on Sep 24, 2026$0.1890 on Sep 30, 2026
Ex-dividend dateOct 19, 2026Sep 29, 2026
Next payment$0.1480 on Oct 22, 2026—
Dividend growth (CAGR)-9.1% over 4 yrs11.9% over 4 yrs
Price$15.19$48.02
Dividend growth streak—3 years
Beta0.540.56
Max drawdown (5Y)-21.5%-13.7%
Market cap$1.29B$8.01B
ExchangeAMEXAMEX
Expense ratio0.60%0.56%
Assets under management$1.29B$7.99B
Number of holdings830
Top 10 concentration100.0%—
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.

RYLD

$102.65/mo

$1232 /yr at 12.32% yield

DIVO

$52.35/mo

$628 /yr at 6.28% yield

Dividend history
Total dividends paid per share in each calendar year. RYLD pays monthly; DIVO pays quarterly.
YearRYLDDIVO
2025$2.0022$2.8660
2024$1.9660$1.9013
2023$2.1365$1.7085
2022$2.6570$1.7074
2021$2.9360$1.8280
Strategy: Options income
These funds own equities and sell call options against them, converting a share of future price appreciation into cash paid out now. How much upside is surrendered depends on the design: writing at the money on the whole portfolio pays the most and keeps the least, while writing on a partial slice or using purchased offsets keeps more of a rally. Distributions come mainly from option premium rather than from company dividends, so the headline yield is not comparable to a dividend fund's.

Payouts are variable rather than contractual, are often taxed as ordinary income, and a fund that pays out more than the strategy earns will see its net asset value drift down over time.

What RYLD vs DIVO actually do

DIVO
An actively managed ETF holding a concentrated set of blue-chip dividend payers with calls written selectively on individual positions.

The manager runs a hand-picked book of roughly 20 to 30 large-cap dividend stocks rather than tracking an index. Instead of keeping every position covered, calls are written tactically on single names, typically when a holding has run up or its implied volatility is elevated. That preserves far more upside than a blanket index overwrite, but it makes option income lumpy and puts the outcome on manager judgment rather than a published rule.

Suits an investor who wants dividend income lifted by option premium without surrendering most of the appreciation. Less suitable for anyone who wants a fully rules-based product, the lowest fee, or the highest available distribution rate.

Moderate income with growth

Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Oct 20, 2021 would now be worth $9,889 in RYLD and $15,959 in DIVO.
PeriodRYLDDIVO
1 month-2.57%1.37%
3 months-6.00%3.58%
Year to date-0.72%7.91%
1 year-0.20%8.28%
3 years21.33%54.45%
5 years-1.11%59.59%
  • RYLD
  • DIVO
7412116820212022202320242025202699160

Both series indexed to 100 on 2021-10-20 using the adjusted closing price series. Past performance does not guarantee future results.

Sector allocation
Weight of each sector within the fund. Sectors are aligned on the same row so the two funds can be read against each other directly.
  • RYLD
  • DIVO
0%6%12%18%24%Financial Services18.4%24.1%Healthcare20.1%12.1%Technology13.9%17.9%Industrials13.2%12.7%Consumer Cyclical9.0%6.9%Energy6.7%7.4%Basic Materials4.3%5.8%Consumer Defensive2.8%6.3%Communication Services2.3%4.7%Real Estate6.5%Other2.9%2.0%
Top 10 holdings
Largest positions by portfolio weight.

RYLD8 holdings total

NameWeight
RSSLGLOBAL X RUSSELL 2000 ETF100.03%
RAINRAIN ONCOLOGY INC0.00%

Quick verdict

RYLD fits better if you care most about more income today. DIVO fits better if you care most about lower fees, stronger 5-year returns, smaller drawdowns, faster dividend growth and broader diversification. Model the holding inside your real portfolio before deciding.

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Frequently asked questions

Is RYLD or DIVO better for dividend income?
It depends on your goals. RYLD currently yields 12.32% Trailing Twelve Months (TTM) while DIVO yields 6.28%. Higher yield means more current income per dollar invested, but may come with different risk, growth, or NAV characteristics. Compare total return and payout sustainability — not just the headline yield.
What is the difference between RYLD and DIVO?
Global X - Russell 2000 Covered Call ETF (RYLD) is an ETF listed on AMEX. Amplify CWP Enhanced Dividend Income ETF (DIVO) is an ETF listed on AMEX. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, RYLD or DIVO?
DIVO has the lower expense ratio. RYLD charges 0.60% a year and DIVO charges 0.56%, a difference of $4 a year on a $10,000 investment.
Which has performed better, RYLD or DIVO?
Over the last 5 years, DIVO has the higher total return with dividends reinvested: RYLD returned -1.1% and DIVO returned 59.6%. Past performance does not predict future returns.
Which is riskier, RYLD or DIVO?
Measured by the worst peak-to-trough decline over the last five years, RYLD has been riskier: RYLD fell as much as 21.5% and DIVO as much as 13.7%. Their betas are 0.54 and 0.56.
How often do RYLD and DIVO pay dividends?
RYLD pays monthly and DIVO pays quarterly.
How much income does $10,000 in RYLD vs DIVO generate?
At current TTM yields, $10,000 in RYLD would generate roughly $102.65 per month ($1232 annually). The same amount in DIVO would produce about $52.35 per month ($628 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both RYLD and DIVO?
Yes. Many income investors hold both to diversify strategy or index exposure. Whether the combination actually diversifies depends on overlapping holdings and factor exposure. Model both inside Dividend Wealth to see combined income, sector mix, and forecast impact.
Where can I compare RYLD vs DIVO with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how RYLD and DIVO fit alongside the rest of your portfolio. A 14-day free trial of Standard is available with no credit card required; a limited Free plan is also available.

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For informational and educational purposes only. Not investment advice. Past performance and current yields do not guarantee future results. Verify figures independently before making investment decisions.