^BSE500 vs. XLP

Last updated Jun 4, 2026

^BSE500 (S&P BSE-500) is an index, while XLP (State Street Consumer Staples Select Sector SPDR ETF) is Consumer Staples Equities fund tracking the S&P Consumer Staples Select Sector. Over the past 10 years, ^BSE500 returned 12.41%/yr vs 11.09%/yr for XLP. At a correlation of -0.02, they often move in opposite directions.

Performance

^BSE500 vs. XLP - Performance Comparison

The chart below illustrates the hypothetical performance of a ₹10,000 investment in S&P BSE-500 (^BSE500) and State Street Consumer Staples Select Sector SPDR ETF (XLP). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

^BSE500 is traded in INR, while XLP is traded in USD. To make them comparable, the XLP values have been converted to INR using the latest available exchange rates.

Returns By Period

In the year-to-date period, ^BSE500 achieves a -6.96% return, which is significantly lower than XLP's 13.30% return. Over the past 10 years, ^BSE500 has outperformed XLP with an annualized return of 12.41%, while XLP has yielded a comparatively lower 11.09% annualized return.

^BSE500

• 1D: -1.11%
• 1M: -2.53%
• YTD: -6.96%
• 6M: -6.38%
• 1Y: -2.28%
• 3Y*: 11.51%
• 5Y*: 10.31%
• 10Y*: 12.41%

XLP

• 1D: 0.55%
• 1M: -1.00%
• YTD: 13.30%
• 6M: 12.16%
• 1Y: 13.92%
• 3Y*: 12.06%
• 5Y*: 11.43%
• 10Y*: 11.09%

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

^BSE500 vs. XLP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
^BSE500 S&P BSE-500	-6.96%	6.41%	14.55%	24.85%	3.34%	30.11%	16.80%	7.75%	-3.08%	35.94%
XLP State Street Consumer Staples Select Sector SPDR ETF	13.30%	6.38%	15.60%	-0.13%	9.85%	19.54%	12.88%	30.66%	0.25%	5.96%

Correlation

The correlation between ^BSE500 and XLP is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.13
Correlation (3Y) Calculated over the trailing 3-year period	-0.07
Correlation (5Y) Calculated over the trailing 5-year period	-0.02
Correlation (10Y) Calculated over the trailing 10-year period	-0.01
Correlation (All Time) Calculated using the full available price history since Mar 8, 2011	-0.02

The correlation between ^BSE500 and XLP shifts across timeframes, from -0.13 (1 year) to -0.01 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

^BSE500 vs. XLP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

^BSE500

^BSE500 Risk / Return Rank: 6
^BSE500 Sharpe Ratio Rank: 6
^BSE500 Sortino Ratio Rank: 6
^BSE500 Omega Ratio Rank: 6
^BSE500 Calmar Ratio Rank: 7
^BSE500 Martin Ratio Rank: 6

XLP

XLP Risk / Return Rank: 10
XLP Sharpe Ratio Rank: 10
XLP Sortino Ratio Rank: 10
XLP Omega Ratio Rank: 10
XLP Calmar Ratio Rank: 11
XLP Martin Ratio Rank: 10

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.

^BSE500 vs. XLP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for S&P BSE-500 (^BSE500) and State Street Consumer Staples Select Sector SPDR ETF (XLP). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	^BSE500	XLP	Difference
Sharpe ratio Return per unit of total volatility	-0.17	1.06	-1.23
Sortino ratio Return per unit of downside risk	-0.14	1.61	-1.75
Omega ratio Gain probability vs. loss probability	0.98	1.19	-0.20
Calmar ratio Return relative to maximum drawdown	-0.16	1.89	-2.04
Martin ratio Return relative to average drawdown	-0.51	4.29	-4.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

^BSE500 vs. XLP - Sharpe Ratio Comparison

The current ^BSE500 Sharpe Ratio is -0.17, which is lower than the XLP Sharpe Ratio of 1.06. The chart below compares the historical Sharpe Ratios of ^BSE500 and XLP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	^BSE500	XLP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.17	1.06	-1.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	0.88	-0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.78	0.77	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	0.93	-0.23

Drawdowns

^BSE500 vs. XLP - Drawdown Comparison

The maximum ^BSE500 drawdown since its inception was -38.39%, which is greater than XLP's maximum drawdown of -23.42%. Use the drawdown chart below to compare losses from any high point for ^BSE500 and XLP.

Drawdown Indicators

	^BSE500	XLP	Difference
Max Drawdown Largest peak-to-trough decline	-38.39%	-23.42%	-14.97%
Max Drawdown (1Y) Largest decline over 1 year	-14.86%	-7.40%	-7.46%
Max Drawdown (3Y) Largest decline over 3 years	-18.96%	-11.14%	-7.82%
Max Drawdown (5Y) Largest decline over 5 years	-18.96%	-12.72%	-6.24%
Max Drawdown (10Y) Largest decline over 10 years	-38.39%	-18.78%	-19.61%
Current Drawdown Current decline from peak	-9.80%	-5.38%	-4.42%
Average Drawdown Average peak-to-trough decline	-5.95%	-3.34%	-2.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.52%	3.27%	+1.25%

Volatility

^BSE500 vs. XLP - Volatility Comparison

The current volatility for S&P BSE-500 (^BSE500) is 4.12%, while State Street Consumer Staples Select Sector SPDR ETF (XLP) has a volatility of 4.88%. This indicates that ^BSE500 experiences smaller price fluctuations and is considered to be less risky than XLP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	^BSE500	XLP	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.12%	4.88%	-0.76%
Volatility (6M) Calculated over the trailing 6-month period	12.21%	10.23%	+1.98%
Volatility (1Y) Calculated over the trailing 1-year period	13.82%	13.16%	+0.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.34%	13.13%	+1.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.19%	14.40%	+1.79%

Frequently Asked Questions

Can I hold both ^BSE500 and XLP in my portfolio?

^BSE500 and XLP have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ^BSE500 or XLP?

XLP has higher volatility (4.88%) compared to ^BSE500 (4.12%). In terms of maximum drawdown, ^BSE500 dropped -38.39% vs XLP's -23.42%.

Which has better risk-adjusted returns?

XLP currently has the higher Sharpe Ratio (1.06 vs -0.17), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.