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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in NYSE Arca Airline Index, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
NYSE Arca Airline Index (^XAL) has returned -14.23% so far this year and 10.15% over the past 12 months. Over the last ten years, ^XAL has returned -3.87% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.
NYSE Arca Airline Index
- 1D
- 5.37%
- 1M
- -17.94%
- YTD
- -14.23%
- 6M
- -4.58%
- 1Y
- 10.15%
- 3Y*
- 0.26%
- 5Y*
- -10.86%
- 10Y*
- -3.87%
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Jan 4, 1995, ^XAL's average daily return is +0.03%, while the average monthly return is +0.65%. At this rate, your investment would double in approximately 8.9 years.
Historically, 51% of months were positive and 49% 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 7 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% | -14.23% | |||||||||
| 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 -4.20%, beta of 1.27, and R² of 0.37 versus S&P 500 Index. Calculated based on daily prices since January 05, 1995.
- This index participated in 150.13% of S&P 500 Index downside but only 124.28% of its upside — more exposed to losses than it benefited from rallies.
- R² of 0.37 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
- -4.20%
- Beta
- 1.27
- R²
- 0.37
- Upside Capture
- 124.28%
- Downside Capture
- 150.13%
Return for Risk
Risk / Return Rank
^XAL ranks 26 for risk / return — below 26% 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 a chosen benchmark (S&P 500 Index).
| ^XAL | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.25 | 0.90 | -0.65 |
Sortino ratioReturn per unit of downside risk | 0.68 | 1.39 | -0.70 |
Omega ratioGain probability vs. loss probability | 1.08 | 1.21 | -0.13 |
Calmar ratioReturn relative to maximum drawdown | 0.24 | 1.40 | -1.16 |
Martin ratioReturn relative to average drawdown | 0.75 | 6.61 | -5.86 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore ^XAL risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
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 71.25%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -93.94% | Jul 15, 1998 | 2679 | Mar 9, 2009 | — | — | — |
| -23.94% | Apr 8, 1996 | 130 | Oct 9, 1996 | 134 | Apr 22, 1997 | 264 |
| -13.26% | Mar 17, 1998 | 53 | Jun 1, 1998 | 24 | Jul 6, 1998 | 77 |
| -10.15% | Jul 28, 1995 | 13 | Aug 15, 1995 | 17 | Sep 8, 1995 | 30 |
| -10.11% | Oct 22, 1997 | 4 | Oct 27, 1997 | 24 | Dec 1, 1997 | 28 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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