IWMY vs RYLD: Income Fund Comparison
Defiance R2000 Weekly Distribution ETF - US (IWMY) and GlobalX Russell 2000 Covered Call ETF - US (RYLD) are both income-focused funds. Below is our independent side-by-side review using the Dependable Income Investing 13-factor scoring system — designed specifically for income investors seeking reliable, sustainable distributions.
Also see: IWMY individual review · RYLD individual review
IWMY: Expense ratio is 1.05% which is high. Increased from 1.02% in the previous review. RYLD: Total expense ratio is 0.60% which is reasonable for a covered call ETF. IWMY fund inception date was Oct 30th 2023 - approximately 2.3 years of history as of review date. In early October 2024 the fund moved from monthly to weekly distributions. RYLD fund inception date was April 17th 2019 - over 6 years of history as of review date. Full Dependability and Return scores for both funds are available in the app.
| IWMY | RYLD | |
|---|---|---|
| Fund Name | Defiance R2000 Weekly Distribution ETF - US | GlobalX Russell 2000 Covered Call ETF - US |
| Fund Type | Index Based Fund | Index Based Fund |
| Exchange | NYSE/NASDAQ | NYSE/NASDAQ |
| Last Reviewed | 2026-03-10 | 2026-03-06 |
| Author | Adam Hyde, Income Investing Analyst | |
🔒 Full scores available — with Premium subscription
Compare Performance — Free →Fund Attributes: IWMY vs RYLD 20% of overall score
Fund Attributes cover the foundational characteristics of each fund: cost, company backing, track record, and size. These factors reflect stability and cost-efficiency for long-term income investors.
Expense ratio is 1.05% which is high. Increased from 1.02% in the previous review.
Total expense ratio is 0.60% which is reasonable for a covered call ETF.
Defiance ETFs surpassed $8 Billion in assets under management as of January 2026.
Mirae Asset Global Investments - a South Korean financial services company - manages over $632 billion in assets worldwide.
Fund inception date was Oct 30th 2023 - approximately 2.3 years of history as of review date. In early October 2024 the fund moved from monthly to weekly distributions.
Fund inception date was April 17th 2019 - over 6 years of history as of review date.
$100.32 Million in assets under management which is a very small fund. Fund has shrunk from $113 Million in the previous review - likely due to poor performance.
$1.30 Billion in assets under management as of March 2026.
Risk: IWMY vs RYLD 35% of overall score
Risk factors evaluate how each fund manages volatility, diversification, and the nature of its underlying assets — critical considerations for income investors who prioritise capital preservation.
Beta vs SPY is approximately -0.16 (2023-11-10 to 2026-03-06) - very low market correlation. Per scoring rules - standalone volatility is used when |beta| < 0.6. Standalone annualized volatility (weekly total returns) is approximately 116.19% - extremely high price choppiness independent of market movements. Combined with severe NAV erosion of approximately -68.61% since inception.
Beta is 0.69 vs SPY (2019-05-03 to 2026-03-06) which is lower than the overall market.
See the full Risk analysis for both IWMY and RYLD — volatility ratings, diversification scores, and analyst notes.
View Plans →Return: IWMY vs RYLD 45% of overall score
Return factors assess income generation quality: current yield, distribution consistency, price history, and payment frequency. This is the most heavily weighted category for income investors.
Weekly distributions (moved from monthly in early October 2024).
Monthly distributions.
See the full Return analysis for both IWMY and RYLD — yield ratings, distribution consistency scores, and capital history.
View Plans →Our Review Methodology
Every fund reviewed on Dependable Income Investing is scored using our 13-factor Fund Report Card, organised into three weighted categories: Fund Attributes (20%), Risk (35%), and Return (45%). Each criterion is rated 1–5 by our analysts based on publicly available fund data.
We also calculate a Dependability Score — a weighted composite of six income-specific factors ranked by importance for retirement income investors: Yield Stability, Yield, Volatility, Capital History, Fund Risk, and Underlying Assets. This score answers the question income investors care about most: can I depend on this fund to pay me reliably?
Full scores, ratings, and analyst notes for both IWMY and RYLD are available in the Dependable Income Investing app.
See our full scoring methodology →
Frequently Asked Questions: IWMY vs RYLD
Which has a lower expense ratio, IWMY or RYLD?
IWMY: Expense ratio is 1.05% which is high. Increased from 1.02% in the previous review.
RYLD: Total expense ratio is 0.60% which is reasonable for a covered call ETF.
Which fund has more assets under management, IWMY or RYLD?
IWMY: $100.32 Million in assets under management which is a very small fund. Fund has shrunk from $113 Million in the previous review - likely due to poor performance.
RYLD: $1.30 Billion in assets under management as of March 2026.
Which fund has been trading longer, IWMY or RYLD?
IWMY: Fund inception date was Oct 30th 2023 - approximately 2.3 years of history as of review date. In early October 2024 the fund moved from monthly to weekly distributions.
RYLD: Fund inception date was April 17th 2019 - over 6 years of history as of review date.
Who manages IWMY vs RYLD?
IWMY: Defiance ETFs surpassed $8 Billion in assets under management as of January 2026.
RYLD: Mirae Asset Global Investments - a South Korean financial services company - manages over $632 billion in assets worldwide.
Where can I see the full IWMY vs RYLD comparison with scores?
The complete side-by-side comparison — including all Risk and Return scores, analyst notes, Overall Score, and Dependability Score for both funds — is available in the Dependable Income Investing app.
What is the difference between IWMY and RYLD?
Defiance R2000 Weekly Distribution ETF - US is a Index Based Fund. Expense ratio is 1.05% which is high. Increased from 1.02% in the previous review. GlobalX Russell 2000 Covered Call ETF - US is a Index Based Fund. Total expense ratio is 0.60% which is reasonable for a covered call ETF. Full comparison including Dependability Score is available in the Dependable Income Investing app.
Which is better for income investors, IWMY or RYLD?
IWMY: Expense ratio is 1.05% which is high. Increased from 1.02% in the previous review. Fund inception date was Oct 30th 2023 - approximately 2.3 years of history as of review date. In early October 2024 the fund moved from monthly to weekly distributions. RYLD: Total expense ratio is 0.60% which is reasonable for a covered call ETF. Fund inception date was April 17th 2019 - over 6 years of history as of review date. Which scores higher on Dependability and Return is available in the Dependable Income Investing app.
Do IWMY and RYLD pay monthly distributions?
IWMY: Weekly distributions (moved from monthly in early October 2024). RYLD: Monthly distributions. Full yield and distribution stability scores for both funds are available in the Dependable Income Investing app.
See the Full IWMY vs RYLD Comparison
The Dependable Income Investing app gives you the complete picture: all 13 scoring factors for both funds, Risk and Return analyst notes, Dependability Scores, and tools to compare any income fund side by side.
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