XYLD and ISPY are both covered call ETFs tracking the same benchmark, but with different approaches. XYLD offers a 10.41% yield, while ISPY provides a 5.26% 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
ProShares S&P 500 High Income ETF
5.61
Overall Score
| Criteria | XYLD | ISPY |
|---|---|---|
| Overall Score | 5.79 5.61 | |
| Total Return (25%) | 3.79 7.63 | |
| Downside Protection (25%) | 5.90 — | |
| Upside Participation (25%) | 6.45 8.95 | |
| Consistency (15%) | 7.61 6.00 | |
| Expense Ratio (5%) | 5.00 5.62 | |
| Liquidity (5%) | 7.23 5.74 |
Since Inception
3 Years
Pro only
1 Year
Pro only
3 Months
Pro only
| Metric | XYLD | ISPY |
|---|---|---|
| Expense Ratio | 0.600% | 0.550% |
| Inception Date | Jun 24, 2013 | Mar 22, 2023 |
| Issuer | Global X | ProShares |
| Distribution Frequency | Monthly | Monthly |
| Maturity Rating | 5/5 stars | 2/5 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.
Daily calls leave 89% of S&P 500 upside but 111% of the downside, for a 5.3% yield.
Investor Profile:
ISPY holds 514 S&P 500 stocks and describes its approach as a covered call strategy using daily options. It aims for monthly income and long-term returns in line with the S&P 500, and its page compares it with the S&P 500 Daily Covered Call Index. The page does not say whether the options are on an index or an ETF, or how much of the portfolio is covered.
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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