XYLD and ETV are both covered call ETFs tracking the same benchmark, but with different approaches. XYLD offers a 10.41% yield, while ETV provides a 7.99% 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
Global X S&P 500 Covered Call ETF
5.79
Overall Score
Eaton Vance Tax-Managed Buy-Write Opportunities
5.96
Overall Score
| Criteria | XYLD | ETV |
|---|---|---|
| Overall Score | 5.79 5.96 | |
| Total Return (25%) | 3.79 5.09 | |
| Downside Protection (25%) | 5.90 3.71 | |
| Upside Participation (25%) | 6.45 7.82 | |
| Consistency (15%) | 7.61 9.89 | |
| Expense Ratio (5%) | 5.00 1.38 | |
| Liquidity (5%) | 7.23 4.98 |
Since Inception
3 Years
Pro only
1 Year
Pro only
3 Months
Pro only
| Metric | XYLD | ETV |
|---|---|---|
| Expense Ratio | 0.600% | 0.890% |
| Inception Date | Jun 24, 2013 | Sep 30, 2005 |
| Issuer | Global X | Eaton Vance |
| Distribution Frequency | Monthly | Monthly |
| Maturity Rating | 5/5 stars | 5/5 stars |
Cut volatility to 9.0% (SPY 15.7%), but its worst drawdown (-23.4%) was only 0.5 points better than SPY's.
Investor Profile:
XYLD tracks the Cboe S&P 500 BuyWrite Index. It holds the S&P 500 stocks, 507 positions, and sells one-month at-the-money call options on the whole portfolio. The rules are mechanical and it pays monthly. PBP tracks the same index.
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%.
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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