FTKI vs RYLD: Grades, Fees and Holdings Compared

First Trust Small Cap BuyWrite Income ETF

FTKIBNYSE Arca

Global X Russell 2000 Covered Call ETF

RYLDANYSE Arca

Overlap

0.0%by weight

Expense ratio

RYLD −0.26pt a year

FTKI0.86%RYLD0.60%

Avg volume · 30D

RYLD 75.8×the volume

FTKI6.66KRYLD504K

FTKI vs RYLD Performance

Oct 31, 2025 – Oct 30, 2026

+19.9%FTKI+12.1%RYLD

Expense ratio: FTKI 0.86%; RYLD 0.60%, better
Fund size: FTKI $25M; RYLD $1.3B
1Y total return: FTKI +19.9%, better; RYLD +12.1%
Yield (12M): FTKI 11.81%; RYLD 12.18%, better
Holdings: FTKI 199; RYLD 6
Avg volume (30D): FTKI 6.66K sh; RYLD 504K sh, better
NAV per share: FTKI $19.56; RYLD $15.30
52W range

ETF.net Grade

Pillar letters and Scores for FTKI, RYLD, with each pillar’s weight
Pillar	FTKI	RYLD
Cost30% weight	C40	A72Higher
Mission25% weight	A100Higher	A97
Risk15% weight	A82Higher	B63
Tradability15% weight	C45	A83Higher
Holdings10% weight	A75Higher	C45
Durability5% weight	C45	A86Higher

Rank among Russell 2000 Option Income funds

How we build Categories ›

Same Category. FTKI and RYLD are both graded against the same 9 Russell 2000 Option Income funds, so their Grades compare head to head.

Russell 2000 Option Income⁠

Category · 9 funds

See all 9 ›

RYLD ranks 1st and FTKI 4th of 9 funds in the Russell 2000 Option Income Category.

Rank 1ARYLDGlobal X Russell 2000 Covered Call ETFScore 76
Rank 2AIWMWiShares Russell 2000 BuyWrite ETFScore 71
Rank 2ARYLGGlobal X Russell 2000 Covered Call & Growth ETFScore 71
Rank 4BFTKIFirst Trust Small Cap BuyWrite Income ETFScore 65
Rank 5BIWMINEOS Russell 2000 High Income ETFScore 64

Our read on each fund

ETF.net Research

FTKIBFirst Trust Small Cap BuyWrite Income ETF

RYLDAGlobal X Russell 2000 Covered Call ETF

In short

FTKI Most Russell 2000 income funds own the index and sell calls on it. FTKI runs an actively picked basket of roughly 300 US small caps, then writes index-level calls over the top: income first, appreciation second, paid monthly.

RYLD The veteran of small-cap options income. Launched in 2019 and now a multi-billion-dollar fund, it owns the Russell 2000 and sells calls against it, swapping some upside for a monthly check.

Stated mandate

FTKI The Fund seeks current income first and capital appreciation second. It primarily invests in small-cap equities listed on U.S. exchanges and writes exchange-traded calls on the Russell 2000 Index or small-cap equity ETFs.

RYLD The Fund is designed to track the price and yield performance of the Cboe Russell 2000 BuyWrite Index before fees and expenses.

Why people hold it

FTKI Two moving parts, one wrapper: an actively chosen small-cap stock portfolio underneath, calls on the Russell 2000 or small-cap ETFs written over the top.ftportfolios.com
The mandate puts current income first and capital appreciation second, and the cash goes out monthly.ftportfolios.com
Roughly 300 US-listed small caps sit under the options overlay, spreading the equity risk across the bench instead of a short list of names.

RYLD 0.60% a year undercuts the median fee among Russell 2000 income funds, and comes in below NEOS's IWMI at 0.76%.
Simple, legible machine: track the Cboe Russell 2000 BuyWrite Index, own the small caps, sell the calls, pay out monthly.
One of the stronger implementations in its Russell 2000 income group, backed by active trading and a multi-billion-dollar asset base.

Worth knowing

FTKI At 0.86%, it prices above index-run Russell 2000 call writers such as RYLD and RYLG. Active stock selection is what you are paying the difference for.
Writing calls swaps upside for premium. When small caps run hard, the overlay limits how much of that run the fund keeps.ftportfolios.com
Launched in 2025 and still a small, lightly traded fund, so bid-ask spreads can run wider than the category's heavyweights.

RYLD A buy-write trades away the melt-up. When small caps rip, the called-away shares mean the premium is most of what you get.
Cheaper Russell 2000 call-writers exist: iShares' IWMW at 0.39% and Global X's own RYLG at 0.35%.
The monthly payment is option premium, not a coupon. It rises and falls with small-cap volatility rather than arriving at a set rate.

Full FTKI profile⁠

Full RYLD profile⁠

FTKI vs RYLD Holdings

As of Oct 13, 2026

How FTKI and RYLD differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of FTKI and 0.0% of RYLD.

Level by level

Holdings0 in both0.0%
Sector11 Sectors81.7%
Countryby domicile96.6%
Asset classEquity100%

Sector

Sector weights in FTKI and RYLD, widest gap first
Sector	More in FTKIMore in RYLD	FTKI	RYLD
Technology	FTKI +9.1 points	23.2%	14.1%
Industrials	RYLD +6.1 points	6.7%	12.8%
Health Care	RYLD +6.2 points	14.6%	20.8%
Consumer Discretionary	FTKI +5.1 points	14.1%	9.0%
Real Estate	RYLD +2.3 points	4.2%	6.5%
Materials	FTKI +2.1 points	6.2%	4.1%
Energy	FTKI +2.0 points	8.4%	6.4%
Utilities	RYLD +1.8 points	1.0%	2.8%
Consumer Staples	RYLD +1.0 points	1.7%	2.7%
Financials	RYLD +0.4 points	18.0%	18.4%
Communication	RYLD +0.4 points	1.9%	2.3%

Country, concentration and asset class

Country by domicile

Country weights in FTKI and RYLD, widest gap first
Country	More in FTKIMore in RYLD	FTKI	RYLD
United States	RYLD +2.8 points	95.6%	98.4%
Canada	FTKI +1.8 points	2.0%	0.2%
Israel	FTKI +1.1 points	1.1%	0.0%
Other countries (11)	RYLD +0.1 points	1.2%	1.3%

Concentration

Weight in the 10 largest Holdings

FTKI23.3%
RYLD100.1%

Securities held

FTKI198
RYLD4

Asset class

FTKI: Equity
RYLD: Equity

Holdings

Only in FTKI198
In both0
Only in RYLD4

Only in FTKI

198 securities, 96.0% of FTKI by weight

Abercrombie & Fitch Co. (Class A)2.28%
Etsy, Inc.2.26%
UiPath, Inc. (Class A)2.13%
Maplebear Inc. (Instacart)2.09%
Appian Corporation1.92%
Encompass Health Corporation1.92%
Scorpio Tankers Inc.1.88%
Credo Technology Group Holding Ltd1.59%
Texas Roadhouse, Inc.1.51%
RenaissanceRe Holdings Ltd.1.50%
Equinox Gold Corp.1.37%
Dorian LPG Ltd.1.34%
FirstCash Holdings, Inc.1.28%
Box, Inc. (Class A)1.28%
Teekay Tankers Ltd. (Class A)1.26%
Sezzle Inc.1.22%
SSR Mining Inc.1.20%
Monarch Casino & Resort, Inc.1.15%
Federated Hermes, Inc. (Class B)1.15%
Applied Industrial Technologies, Inc.1.11%
CVR Energy, Inc.1.11%
Reinsurance Group of America, Incorporated1.09%
ZIM Integrated Shipping Services Limited1.03%
Frontdoor, Inc.1.01%
Kohl's Corporation0.93%
Stride, Inc.0.93%
UMB Financial Corporation0.89%
Clear Secure, Inc. (Class A)0.86%
Murphy USA Inc.0.84%
Amkor Technology, Inc.0.83%
Moelis & Company (Class A)0.76%
Victoria's Secret & Co.0.74%
Dropbox, Inc. (Class A)0.73%
Northwest Bancshares, Inc.0.73%
Healthcare Realty Trust Inc.0.72%
Warrior Met Coal, Inc.0.71%
GigaCloud Technology Inc (Class A)0.70%
Simmons First National Corporation0.70%
Okeanis Eco Tankers Corp.0.70%
Kilroy Realty Corp0.69%
Millicom International Cellular S.A.0.64%
Paymentus Holdings, Inc. (Class A)0.62%
Glacier Bancorp, Inc.0.62%
Immunovant, Inc.0.61%
Axogen, Inc.0.61%
SiriusPoint Ltd.0.61%
Perdoceo Education Corporation0.60%
Dave Inc. (Class A)0.59%
Atlantic Union Bankshares Corporation0.59%
OPENLANE Inc.0.56%

Only in RYLD

4 securities, 100% of RYLD by weight

Global X Russell 2000 Etf100.04%
Inhibrx Inc<0.01%
Novartis AG - Cvr<0.01%
Cartesian Therapeutics Inc0.00%

Weight gaps

FTKI and RYLD share no securities.

All 203 FTKI holdings⁠All 8 RYLD holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

FTKI vs RYLD Cost

Overpaying FTKI vs RYLD

$4,551

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

FTKI 0.86%
$16,368
RYLD 0.60%
$11,817

Amount$10,000

Years30 years

Cost over time

FTKI 0.86%
RYLD 0.60%
Overpaying

Year by year

Year	FTKI	RYLD	Overpaying
10	$1,525	$1,076	$449
20	$5,768	$4,116	$1,652
30	$16,368	$11,817	$4,551

Expense ratio

0.86%FTKI
0.60%RYLD, cheaper

RYLD0.60%FTKI0.86%

0.35%1.73%

Middle half of Russell 2000 Option Income funds
Median 0.69%

RYLD 3rd cheapest of 9 funds

FTKI 6th cheapest of 9 funds

FTKI vs RYLD Dividends

Last 12 months to Oct 30, 2026

Yield (12M): FTKI 11.81%; RYLD 12.18%, better
Payout (12M): FTKI $2.31; RYLD $1.87
Last payment: FTKI $0.19; RYLD $0.15
Ex-dividend: FTKI Oct 21, 2026; RYLD Oct 19, 2026
Paid on: FTKI Oct 30, 2026; RYLD Oct 22, 2026
Frequency: FTKI Monthly; RYLD Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

FTKIMonthly · 19 paymentsAll FTKI payments⁠

RYLDMonthly · 46 paymentsAll RYLD payments⁠

FTKI vs RYLD Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: FTKI 10.8%since Mar 2025RYLD 8.7%
Return per unit of riskSharpe ratio, 3 years: FTKI 0.61since Mar 2025RYLD 0.73
Worst fallMax drawdown, 5 years: FTKI −15.2%since Feb 2025RYLD −21.4%
Market sensitivityBeta, 5 years: FTKI 0.27RYLD 0.54; Market = 1

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