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Performance
^XAL Performance Chart
NYSE Arca Airline Index (^XAL) is up 7.6% since the beginning of the year. ^XAL is currently trading at $76 per share. Investors who bought $1,000 worth of ^XAL shares 5 years ago would now be looking at an investment worth $727.
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Returns By Period
NYSE Arca Airline Index (^XAL) has returned 7.60% so far this year and 43.49% over the past 12 months. Over the last ten years, ^XAL has returned -0.53% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
NYSE Arca Airline Index
- 1D
- -0.77%
- 1M
- 9.81%
- YTD
- 7.60%
- 6M
- 3.35%
- 1Y
- 43.49%
- 3Y*
- 0.61%
- 5Y*
- -6.18%
- 10Y*
- -0.53%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
^XAL Monthly Returns History
Based on dividend-adjusted daily data since Oct 16, 1992, ^XAL's average daily return is +0.04%, while the average monthly return is +0.69%. At this rate, an investment would double in approximately 8.4 years.
Historically, 52% of months were positive and 48% were negative. The best month was Nov 2020 with a return of +41.9%, while the worst month was Sep 2001 at -46.9%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 6 months.
On a daily basis, ^XAL closed higher 49% of trading days. The best single day was Jul 22, 2008 with a return of +22.2%, while the worst single day was Sep 17, 2001 at -40.3%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 3.36% | 1.12% | -17.94% | -1.28% | 22.60% | 3.66% | 7.60% | ||||||
| 2025 | 9.84% | -9.64% | -17.81% | -10.37% | 16.91% | -1.67% | 7.15% | 12.40% | -6.98% | -2.71% | 5.70% | 8.19% | 4.77% |
| 2024 | -11.30% | 7.88% | 3.72% | -9.87% | -2.64% | -3.87% | -3.72% | -5.70% | 14.92% | 13.14% | -3.93% | 4.29% | -0.97% |
| 2023 | 20.04% | -4.56% | -1.17% | -0.23% | 6.27% | 24.69% | -6.45% | -16.37% | -12.13% | -13.58% | 18.06% | 22.15% | 28.24% |
| 2022 | 0.93% | -1.19% | -1.04% | -5.46% | -4.68% | -23.19% | 7.77% | -1.50% | -15.97% | 18.68% | 4.27% | -14.19% | -35.29% |
| 2021 | -3.25% | 29.38% | 2.56% | -1.40% | 2.33% | -7.93% | -6.13% | -0.61% | 2.78% | -10.47% | -7.66% | 3.91% | -1.75% |
Benchmark Metrics
NYSE Arca Airline Index has an annualized alpha of -3.84%, beta of 1.26, and R2 of 0.36 versus S&P 500 Index. Calculated based on daily prices since October 16, 1992.
- This index participated in 149.43% of S&P 500 Index downside but only 123.96% of its upside - more exposed to losses than it benefited from rallies.
- R2 of 0.36 means the benchmark explains less than half of this index's behavior - treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- -3.84%
- Beta
- 1.26
- R²
- 0.36
- Upside Capture
- 123.96%
- Downside Capture
- 149.43%
Return for Risk
Risk / Return Rank
^XAL ranks 38 for risk / return — below 38% of indices on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for NYSE Arca Airline Index (^XAL) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ^XAL | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.94 | ||
| Sortino ratioReturn per unit of downside risk | -0.95 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.37 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.38 | 2.78 | -1.40 |
| Martin ratioReturn relative to average drawdown | 3.15 | 12.44 | -9.28 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the NYSE Arca Airline Index. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the NYSE Arca Airline Index was 93.94%, occurring on Mar 9, 2009. The portfolio has not yet recovered.
The current NYSE Arca Airline Index drawdown is 63.94%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -93.94%Mar 2009 | 10y 8mo | — | 27y 11moJul 1998 - now |
1994 bear market1994 | -33.04%Dec 1994 | 10mo 20d | 4mo 14d | 1y 2moFeb 1994 - May 1995 |
1996 bear market1996 | -23.94%Oct 1996 | 6mo 4d | 6mo 15d | 1y 14dApr 1996 - Apr 1997 |
1993 correction1993 | -15.76%Jun 1993 | 2mo 1d | 4mo 8d | 6mo 9dApr 1993 - Oct 1993 |
1998 correction1998 | -13.26%Jun 1998 | 2mo 16d | 1mo 5d | 3mo 21dMar 1998 - Jul 1998 |
Drawdown Indicators
| ^XAL | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.94% | -56.78% | -37.16% |
Max Drawdown (1Y)Largest decline over 1 year | -31.62% | -9.10% | -22.52% |
Max Drawdown (3Y)Largest decline over 3 years | -42.23% | -18.90% | -23.33% |
Max Drawdown (5Y)Largest decline over 5 years | -55.76% | -25.43% | -30.33% |
Max Drawdown (10Y)Largest decline over 10 years | -70.17% | -33.92% | -36.25% |
Current DrawdownCurrent decline from peak | -63.94% | -1.80% | -62.14% |
Average DrawdownAverage peak-to-trough decline | -54.82% | -10.71% | -44.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.82% | 2.03% | +11.79% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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Build a portfolio with ^XAL
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