Dividend comparison

XYLD vs RYLD: 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 Global X - Russell 2000 Covered Call ETF, side by side. Updated October 21, 2026.

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XYLD vs RYLD: key differences
The short answer, from the latest data on this page.
  • Fees. Both charge about 0.60% a year, so cost is not what separates them.
  • Income. RYLD pays more income, yielding 12.32% over the last twelve months versus 10.44% for XYLD. That is about $188 more a year on $10,000. Both pay monthly.
  • Performance. Over the last 5 years, XYLD returned 30.2% versus -1.1% for RYLD, with dividends reinvested. $10,000 would have grown to $13,019 in XYLD 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 -18.6% for XYLD.
  • Diversification. XYLD holds 505 positions and RYLD holds 8. The ten largest positions make up 39.9% of XYLD and 100.0% of RYLD.
  • Dividend growth. XYLD grew its yearly payout 4.8% a year over the last 4 years, versus -9.1% for RYLD.
  • Size. XYLD is the larger fund with $3.4 billion in assets, against $1.3 billion for RYLD.

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

Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
MetricXYLD
Global X - S&P 500 Covered Call ETF
RYLD
Global X - Russell 2000 Covered Call ETF
Dividend yield (TTM)10.44%12.32%
Dividend / share (TTM)$4.32$1.87
Payout frequencyMonthlyMonthly
Last dividend$0.2964 on Sep 24, 2026$0.1475 on Sep 24, 2026
Ex-dividend dateOct 19, 2026Oct 19, 2026
Next payment$0.3140 on Oct 22, 2026$0.1480 on Oct 22, 2026
Dividend growth (CAGR)4.8% over 4 yrs-9.1% over 4 yrs
Price$41.40$15.19
Dividend growth streak1 year—
Beta0.410.54
Max drawdown (5Y)-18.6%-21.5%
Market cap$3.41B$1.29B
ExchangeAMEXAMEX
Expense ratio0.60%0.60%
Assets under management$3.38B$1.29B
Number of holdings5058
Top 10 concentration39.9%100.0%
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.

XYLD

$87.02/mo

$1044 /yr at 10.44% yield

RYLD

$102.65/mo

$1232 /yr at 12.32% yield

Dividend history
Total dividends paid per share in each calendar year. XYLD pays monthly; RYLD pays monthly.
YearXYLDRYLD
2025$5.4603$2.0022
2024$3.9372$1.9660
2023$4.2377$2.1365
2022$5.3660$2.6570
2021$4.5310$2.9360
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 XYLD vs RYLD actually do

XYLD
The S&P 500 version of the Global X buy-write approach, owning the index and selling at-the-money monthly index calls.

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

Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Oct 20, 2021 would now be worth $13,019 in XYLD and $9,889 in RYLD.
PeriodXYLDRYLD
1 month-0.05%-2.57%
3 months0.61%-6.00%
Year to date1.90%-0.72%
1 year5.56%-0.20%
3 years36.95%21.33%
5 years30.19%-1.11%
  • XYLD
  • RYLD
7710613520212022202320242025202613099

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.
  • XYLD
  • RYLD
0%10%20%30%40%Technology40.5%13.9%Financial Services11.2%18.4%Healthcare9.3%20.1%Industrials7.5%13.2%Consumer Cyclical8.8%9.0%Communication Services9.9%2.3%Energy3.4%6.7%Real Estate1.7%6.5%Consumer Defensive4.3%2.8%Basic Materials1.6%4.3%Other1.9%2.9%
XYLD vs RYLD holdings overlap
At least 0% overlap by weight, with 0 holdings in common. Overlap adds up the smaller of the two weights for every stock both funds own, so 100% would mean identical portfolios.
Top 10 holdings
Largest positions by portfolio weight.

XYLD505 holdings total

NameWeight
NVDANVIDIA CORP8.32%
AAPLAPPLE INC7.57%
MSFTMICROSOFT CORP6.10%
AMZNAMAZON.COM INC3.88%
GOOGLALPHABET INC-CL A3.14%
AVGOBROADCOM INC2.57%
GOOGALPHABET INC-CL C2.51%
METAMETA PLATFORMS INC2.49%
MUMICRON TECHNOLOGY INC1.70%
TSLATESLA INC1.62%

RYLD8 holdings total

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

Quick verdict

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

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Frequently asked questions

Is XYLD or RYLD better for dividend income?
It depends on your goals. XYLD currently yields 10.44% Trailing Twelve Months (TTM) while RYLD yields 12.32%. 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 XYLD and RYLD?
Global X - S&P 500 Covered Call ETF (XYLD) is an ETF listed on AMEX. Global X - Russell 2000 Covered Call ETF (RYLD) 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, XYLD or RYLD?
They cost about the same: XYLD charges 0.60% a year and RYLD charges 0.60%.
Which has performed better, XYLD or RYLD?
Over the last 5 years, XYLD has the higher total return with dividends reinvested: XYLD returned 30.2% and RYLD returned -1.1%. Past performance does not predict future returns.
Which is riskier, XYLD or RYLD?
Measured by the worst peak-to-trough decline over the last five years, RYLD has been riskier: XYLD fell as much as 18.6% and RYLD as much as 21.5%. Their betas are 0.41 and 0.54.
How often do XYLD and RYLD pay dividends?
Both pay monthly. The most recent payments were $0.2964 for XYLD and $0.1475 for RYLD.
How much income does $10,000 in XYLD vs RYLD generate?
At current TTM yields, $10,000 in XYLD would generate roughly $87.02 per month ($1044 annually). The same amount in RYLD would produce about $102.65 per month ($1232 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both XYLD and RYLD?
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 XYLD vs RYLD with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how XYLD and RYLD 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.