Dividend comparison
XYLD vs DIVO: Which Is Better for Income?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for Global X - S&P 500 Covered Call ETF and Amplify CWP Enhanced Dividend Income ETF, side by side. Updated October 21, 2026.
- Fees. DIVO is cheaper at 0.56% a year versus 0.60% for XYLD. On $10,000 that is $4 a year less in fees.
- Income. XYLD pays more income, yielding 10.44% over the last twelve months versus 6.28% for DIVO. That is about $416 more a year on $10,000. XYLD pays monthly, DIVO pays quarterly.
- Performance. Over the last 5 years, DIVO returned 59.6% versus 30.2% for XYLD, with dividends reinvested. $10,000 would have grown to $15,959 in DIVO and $13,019 in XYLD.
- Risk. XYLD has been the bumpier ride. Its worst peak-to-trough decline over the last 5 years was -18.6%, against -13.7% for DIVO.
- Diversification. XYLD holds 505 positions and DIVO holds 30.
- Dividend growth. DIVO grew its yearly payout 11.9% a year over the last 4 years, versus 4.8% for XYLD.
- Size. DIVO is the larger fund with $8.0 billion in assets, against $3.4 billion for XYLD.
Bottom line: XYLD fits better if you care most about more income today and broader diversification. DIVO fits better if you care most about lower fees, stronger 5-year returns, smaller drawdowns and faster dividend growth.
| Metric | XYLD Global X - S&P 500 Covered Call ETF | DIVO Amplify CWP Enhanced Dividend Income ETF |
|---|---|---|
| Dividend yield (TTM) | 10.44% | 6.28% |
| Dividend / share (TTM) | $4.32 | $3.02 |
| Payout frequency | Monthly | Quarterly |
| Last dividend | $0.2964 on Sep 24, 2026 | $0.1890 on Sep 30, 2026 |
| Ex-dividend date | Oct 19, 2026 | Sep 29, 2026 |
| Next payment | $0.3140 on Oct 22, 2026 | — |
| Dividend growth (CAGR) | 4.8% over 4 yrs | 11.9% over 4 yrs |
| Price | $41.40 | $48.02 |
| Dividend growth streak | 1 year | 3 years |
| Beta | 0.41 | 0.56 |
| Max drawdown (5Y) | -18.6% | -13.7% |
| Market cap | $3.41B | $8.01B |
| Exchange | AMEX | AMEX |
| Expense ratio | 0.60% | 0.56% |
| Assets under management | $3.38B | $7.99B |
| Number of holdings | 505 | 30 |
| Top 10 concentration | 39.9% | — |
XYLD
$87.02/mo
$1044 /yr at 10.44% yield
DIVO
$52.35/mo
$628 /yr at 6.28% yield
| Year | XYLD | DIVO |
|---|---|---|
| 2025 | $5.4603 | $2.8660 |
| 2024 | $3.9372 | $1.9013 |
| 2023 | $4.2377 | $1.7085 |
| 2022 | $5.3660 | $1.7074 |
| 2021 | $4.5310 | $1.8280 |
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 XYLD vs DIVO actually do
It tracks the Cboe S&P 500 BuyWrite Index, holding S&P 500 stocks and writing one-month calls at roughly the current index level. The mechanics match its Nasdaq sibling, but S&P 500 implied volatility is lower, so the premium collected and the resulting distribution are smaller. The same distribution guideline applies, capped at the lower of half the premiums received or 1% of net asset value.
Suits someone who wants the buy-write structure applied to a broader, less concentrated index than the Nasdaq-100. Not appropriate for an account that still needs capital growth, since full at-the-money overwriting caps the market return that funds it.
High current income, capped upside
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
| Period | XYLD | DIVO |
|---|---|---|
| 1 month | -0.05% | 1.37% |
| 3 months | 0.61% | 3.58% |
| Year to date | 1.90% | 7.91% |
| 1 year | 5.56% | 8.28% |
| 3 years | 36.95% | 54.45% |
| 5 years | 30.19% | 59.59% |
- XYLD
- DIVO
Both series indexed to 100 on 2021-10-20 using the adjusted closing price series. Past performance does not guarantee future results.
- XYLD
- DIVO
Quick verdict
XYLD fits better if you care most about more income today and broader diversification. DIVO fits better if you care most about lower fees, stronger 5-year returns, smaller drawdowns and faster dividend growth. Model the holding inside your real portfolio before deciding.
Frequently asked questions
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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.