RYLD and IWMI are both covered call ETFs tracking the same benchmark, but with different approaches. RYLD offers ~12% yield with a focus on investor seeking small cap diversification with income overlay, while IWMI provides ~13% yield targeting investor seeking tax-efficient small cap income exposure. 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
Global X Russell 2000 Covered Call ETF
5.8
Overall Score
NEOS Russell 2000 High Income ETF
6.4
Overall Score
| Criteria | RYLD | IWMI |
|---|---|---|
| Overall Score | 5.8 6.4 | |
| Total Return (25%) | 4.3 8.3 | |
| Downside Protection (25%) | 8.1 5.0 | |
| Upside Participation (25%) | 5.6 8.0 | |
| Consistency (15%) | 4.9 4.2 | |
| Expense Ratio (5%) | 5.0 4.0 | |
| Liquidity (5%) | 6.2 4.9 |
Since Inception
3 Years
Pro only
1 Year
Pro only
3 Months
Pro only
| Metric | RYLD | IWMI |
|---|---|---|
| Expense Ratio | 0.600% | 0.680% |
| Inception Date | Apr 17, 2019 | Sep 14, 2023 |
| Issuer | Global X | NEOS |
| Distribution Frequency | Monthly | Monthly |
| Maturity Rating | 4/5 stars | 2/5 stars |
Niche but useful for diversification — RYLD is the only way to get small cap income overlay in a liquid ETF
Investor Profile:
Investor seeking small cap diversification with income overlay
Structurally superior to RYLD — but 2-star maturity means limited track record to verify
Investor Profile:
Investor seeking tax-efficient small cap income exposure
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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