XYLD and PUTW are both covered call ETFs tracking the same benchmark, but with different approaches. XYLD offers a 10.41% yield, while PUTW provides a n/a 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
WisdomTree PutWrite Strategy Fund
6.13
Overall Score
| Criteria | XYLD | PUTW |
|---|---|---|
| Overall Score | 5.79 6.13 | |
| Total Return (25%) | 3.79 3.71 | |
| Downside Protection (25%) | 5.90 6.98 | |
| Upside Participation (25%) | 6.45 5.96 | |
| Consistency (15%) | 7.61 8.82 | |
| Expense Ratio (5%) | 5.00 7.00 | |
| Liquidity (5%) | 7.23 5.91 |
Since Inception
3 Years
Pro only
1 Year
Pro only
3 Months
Pro only
| Metric | XYLD | PUTW |
|---|---|---|
| Expense Ratio | 0.600% | 0.440% |
| Inception Date | Jun 24, 2013 | Feb 24, 2016 |
| Issuer | Global X | WisdomTree |
| 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.
Put-writing delivered 61% of S&P 500 upside and 63% of the downside, and the April 2025 index change limits how far its history can be trusted.
Investor Profile:
Since April 4, 2025 the fund trades under the ticker WTPI and tracks the Volos US Large Cap Target 2.5% PutWrite Index. It sells put options on SPY and holds U.S. Treasury bills as collateral, 96% T-bills and 4% a Treasury floating-rate fund as of October 2026. The index replaced the earlier CBOE PUT index approach, so earlier history reflects a different strategy. 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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