ETV and XYLG are both covered call ETFs tracking the same benchmark, but with different approaches. ETV offers a 7.99% yield, while XYLG provides a 12.83% yield. Compare their scores, yields, and performance metrics to find the best fit for your portfolio.
Compare covered call ETFs with the same benchmark side by side
Eaton Vance Tax-Managed Buy-Write Opportunities
5.96
Overall Score
Global X S&P 500 Covered Call & Growth ETF
6.89
Overall Score
| Criteria | ETV | XYLG |
|---|---|---|
| Overall Score | 5.96 6.89 | |
| Total Return (25%) | 5.09 7.58 | |
| Downside Protection (25%) | 3.71 5.05 | |
| Upside Participation (25%) | 7.82 7.83 | |
| Consistency (15%) | 9.89 8.03 | |
| Expense Ratio (5%) | 1.38 5.00 | |
| Liquidity (5%) | 4.98 6.29 |
Since Inception
3 Years
Pro only
1 Year
Pro only
3 Months
Pro only
| Metric | ETV | XYLG |
|---|---|---|
| Expense Ratio | 0.890% | 0.600% |
| Inception Date | Sep 30, 2005 | Oct 5, 2020 |
| Issuer | Eaton Vance | Global X |
| Distribution Frequency | Monthly | Monthly |
| Maturity Rating | 5/5 stars | 4/5 stars |
The call overlay costs upside (78% captured) without cushioning losses (95% down capture), and a 1.08% expense ratio adds to the drag.
Investor Profile:
ETV is a closed-end fund that holds two stock segments: one seeks to beat the S&P 500, the other the Nasdaq-100. It sells index call options continuously on at least 80% of each segment, with S&P 500 calls on the first and Nasdaq-100 calls on the second. The fund is tax-managed, uses no leverage, and pays monthly. Its shares trade at a discount to NAV of about 9%.
Captured 78% of S&P 500 upside and 76% of the downside; the 12.8% TTM yield includes a one-off, and the regular yield is 5.6%.
Investor Profile:
XYLG tracks the Cboe S&P 500 Half BuyWrite Index. It holds the S&P 500 stocks, 506 positions, and sells one-month at-the-money calls on up to half of each holding, which leaves the rest free to follow the index. It paid a one-time distribution of $2.14 per share on Dec 30, 2025. It pays monthly.
Both funds are scored on total return, downside protection, upside participation, distribution consistency, cost and liquidity, against the same benchmark and the same window.
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