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NYSE Arca Airline Index

Often compared with ^XAL:
^XAL vs. ^GSPC

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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S&P 500 Index

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%
*Multi-year figures are annualized to reflect compound growth (CAGR)

^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%.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
20263.36%1.12%-17.94%-1.28%22.60%3.66%7.60%
20259.84%-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%
202320.04%-4.56%-1.17%-0.23%6.27%24.69%-6.45%-16.37%-12.13%-13.58%18.06%22.15%28.24%
20220.93%-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
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.


^XAL Risk / Return Rank: 3838
Overall Rank
^XAL Sharpe Ratio Rank: 3838
Sharpe Ratio Rank
^XAL Sortino Ratio Rank: 4343
Sortino Ratio Rank
^XAL Omega Ratio Rank: 4040
Omega Ratio Rank
^XAL Calmar Ratio Rank: 3737
Calmar Ratio Rank
^XAL Martin Ratio Rank: 3434
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

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.


^XALBenchmarkDifference
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 20d4mo 14d
1y 2moFeb 1994 - May 1995
1996 bear market1996
-23.94%Oct 1996
6mo 4d6mo 15d
1y 14dApr 1996 - Apr 1997
1993 correction1993
-15.76%Jun 1993
2mo 1d4mo 8d
6mo 9dApr 1993 - Oct 1993
1998 correction1998
-13.26%Jun 1998
2mo 16d1mo 5d
3mo 21dMar 1998 - Jul 1998

Drawdown Indicators


^XALBenchmarkDifference

Max Drawdown

Largest 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 Drawdown

Current decline from peak

-63.94%

-1.80%

-62.14%

Average Drawdown

Average peak-to-trough decline

-54.82%

-10.71%

-44.11%

Ulcer Index

Depth 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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Portfolio Analyzer

Build a portfolio with ^XAL

Add NYSE Arca Airline Index to a portfolio and analyze allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

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