^XSP vs. SNPE

Last updated Jun 3, 2026

^XSP (S&P 500 Mini-SPX Options Index) is an index, while SNPE (Xtrackers S&P 500 ESG ETF) is S&P 500 fund tracking the S&P 500 ESG Index. Over the past 5 years, ^XSP returned 12.66%/yr vs 14.83%/yr for SNPE. With a 0.98 correlation, they move nearly in lockstep.

Performance

^XSP vs. SNPE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in S&P 500 Mini-SPX Options Index (^XSP) and Xtrackers S&P 500 ESG ETF (SNPE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ^XSP achieves a 11.16% return, which is significantly higher than SNPE's 10.55% return.

^XSP

• 1D: 0.13%
• 1M: 5.25%
• YTD: 11.16%
• 6M: 11.43%
• 1Y: 28.20%
• 3Y*: 21.12%
• 5Y*: 12.66%
• 10Y*: —

SNPE

• 1D: -0.43%
• 1M: 4.92%
• YTD: 10.55%
• 6M: 11.45%
• 1Y: 32.05%
• 3Y*: 22.06%
• 5Y*: 14.83%
• 10Y*: —

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

^XSP vs. SNPE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
^XSP S&P 500 Mini-SPX Options Index	11.16%	16.39%	23.31%	24.23%	-19.44%	22.15%
SNPE Xtrackers S&P 500 ESG ETF	10.55%	18.56%	23.85%	27.79%	-17.67%	26.69%

Correlation

The correlation between ^XSP and SNPE is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (All Time) Calculated using the full available price history since Mar 2, 2021	0.98

The correlation between ^XSP and SNPE has been stable across timeframes, ranging from 0.96 to 0.99 - a consistent structural relationship.

Return for Risk

^XSP vs. SNPE — Risk / Return Rank

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

^XSP

^XSP Risk / Return Rank: 79
^XSP Sharpe Ratio Rank: 77
^XSP Sortino Ratio Rank: 76
^XSP Omega Ratio Rank: 78
^XSP Calmar Ratio Rank: 78
^XSP Martin Ratio Rank: 88

SNPE

SNPE Risk / Return Rank: 78
SNPE Sharpe Ratio Rank: 82
SNPE Sortino Ratio Rank: 82
SNPE Omega Ratio Rank: 80
SNPE Calmar Ratio Rank: 68
SNPE Martin Ratio Rank: 80

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.

^XSP vs. SNPE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for S&P 500 Mini-SPX Options Index (^XSP) and Xtrackers S&P 500 ESG ETF (SNPE). 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.

	^XSP	SNPE	Difference
Sharpe ratio Return per unit of total volatility	2.39	2.68	-0.29
Sortino ratio Return per unit of downside risk	3.25	3.73	-0.47
Omega ratio Gain probability vs. loss probability	1.43	1.48	-0.05
Calmar ratio Return relative to maximum drawdown	3.16	3.47	-0.31
Martin ratio Return relative to average drawdown	14.61	16.08	-1.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

^XSP vs. SNPE - Sharpe Ratio Comparison

The current ^XSP Sharpe Ratio is 2.39, which is comparable to the SNPE Sharpe Ratio of 2.68. The chart below compares the historical Sharpe Ratios of ^XSP and SNPE, 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

	^XSP	SNPE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.39	2.68	-0.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.75	0.87	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.81	0.89	-0.07

Drawdowns

^XSP vs. SNPE - Drawdown Comparison

The maximum ^XSP drawdown since its inception was -25.43%, smaller than the maximum SNPE drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for ^XSP and SNPE.

Drawdown Indicators

	^XSP	SNPE	Difference
Max Drawdown Largest peak-to-trough decline	-25.43%	-33.37%	+7.94%
Max Drawdown (1Y) Largest decline over 1 year	-9.10%	-9.46%	+0.36%
Max Drawdown (3Y) Largest decline over 3 years	-18.90%	-19.15%	+0.25%
Max Drawdown (5Y) Largest decline over 5 years	-25.43%	-24.65%	-0.78%
Current Drawdown Current decline from peak	0.00%	-0.43%	+0.43%
Average Drawdown Average peak-to-trough decline	-5.87%	-4.96%	-0.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.97%	2.04%	-0.07%

Volatility

^XSP vs. SNPE - Volatility Comparison

The current volatility for S&P 500 Mini-SPX Options Index (^XSP) is 2.83%, while Xtrackers S&P 500 ESG ETF (SNPE) has a volatility of 3.21%. This indicates that ^XSP experiences smaller price fluctuations and is considered to be less risky than SNPE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	^XSP	SNPE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.83%	3.21%	-0.38%
Volatility (6M) Calculated over the trailing 6-month period	8.98%	9.07%	-0.09%
Volatility (1Y) Calculated over the trailing 1-year period	11.87%	12.01%	-0.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.90%	17.09%	-0.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.75%	19.67%	-2.92%

Frequently Asked Questions

Can I hold both ^XSP and SNPE in my portfolio?

With a correlation of 0.96, ^XSP and SNPE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, ^XSP or SNPE?

SNPE has higher volatility (3.21%) compared to ^XSP (2.83%). In terms of maximum drawdown, ^XSP dropped -25.43% vs SNPE's -33.37%.

Which has better risk-adjusted returns?

SNPE currently has the higher Sharpe Ratio (2.68 vs 2.39), 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.