AFOS vs. XOEX

Last updated Jun 24, 2026

AFOS (ARS Focused Opportunities Strategy ETF) and XOEX (Xtrackers S&P 100 Ex Top 20 ETF) are both Large Cap Blend Equities funds. A 0.64 correlation means they provide meaningful diversification when combined. AFOS charges 0.45%/yr vs 0.15%/yr for XOEX.

Performance

AFOS vs. XOEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ARS Focused Opportunities Strategy ETF (AFOS) and Xtrackers S&P 100 Ex Top 20 ETF (XOEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AFOS achieves a 31.60% return, which is significantly higher than XOEX's 9.48% return.

AFOS

• 1D: -3.79%
• 1M: 4.43%
• YTD: 31.60%
• 6M: 30.16%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

XOEX

• 1D: -0.62%
• 1M: 0.90%
• YTD: 9.48%
• 6M: 8.67%
• 1Y: 25.84%
• 3Y*: 17.92%
• 5Y*: —
• 10Y*: —

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

AFOS vs. XOEX - Yearly Performance Comparison

	2026 (YTD)	2025
AFOS ARS Focused Opportunities Strategy ETF	31.60%	37.10%
XOEX Xtrackers S&P 100 Ex Top 20 ETF	9.48%	14.30%

Correlation

The correlation between AFOS and XOEX is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.64

Return for Risk

AFOS vs. XOEX — Risk / Return Rank

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

AFOS

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

XOEX

XOEX Risk / Return Rank: 78
XOEX Sharpe Ratio Rank: 79
XOEX Sortino Ratio Rank: 82
XOEX Omega Ratio Rank: 77
XOEX Calmar Ratio Rank: 76
XOEX Martin Ratio Rank: 79

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.

AFOS vs. XOEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ARS Focused Opportunities Strategy ETF (AFOS) and Xtrackers S&P 100 Ex Top 20 ETF (XOEX). 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.

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.

	AFOS	XOEX	Difference
Sharpe ratio: Return per unit of total volatility	—	2.30	—
Sortino ratio: Return per unit of downside risk	—	3.29	—
Omega ratio: Gain probability vs. loss probability	—	1.41	—
Calmar ratio: Return relative to maximum drawdown	—	3.55	—
Martin ratio: Return relative to average drawdown	—	13.97	—

Drawdowns

AFOS vs. XOEX - Drawdown Comparison

The maximum AFOS drawdown since its inception was -11.52%, smaller than the maximum XOEX drawdown of -14.68%. Use the drawdown chart below to compare losses from any high point for AFOS and XOEX.

Drawdown Indicators

	AFOS	XOEX	Difference
Max Drawdown Largest peak-to-trough decline	-11.52%	-14.68%	+3.16%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.31%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-14.68%	—
Current Drawdown Current decline from peak	-3.79%	-1.52%	-2.27%
Average Drawdown Average peak-to-trough decline	-1.42%	-2.62%	+1.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.85%	—

Volatility

Volatility by Period

	AFOS	XOEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.07%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.88%	—
Volatility (1Y) Calculated over the trailing 1-year period	21.52%	11.29%	+10.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.52%	13.45%	+8.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.52%	13.45%	+8.07%

AFOS vs. XOEX - Expense Ratio Comparison

AFOS has a 0.45% expense ratio, which is higher than XOEX's 0.15% expense ratio.

Dividends

AFOS vs. XOEX - Dividend Comparison

AFOS's dividend yield for the trailing twelve months is around 0.23%, less than XOEX's 1.48% yield.

Position	TTM	2025	2024	2023	2022
AFOS ARS Focused Opportunities Strategy ETF	0.23%	0.30%	0.00%	0.00%	0.00%
XOEX Xtrackers S&P 100 Ex Top 20 ETF	1.48%	1.95%	2.09%	1.72%	0.42%

Frequently Asked Questions

Can I hold both AFOS and XOEX in my portfolio?

AFOS and XOEX have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AFOS or XOEX?

On fees, XOEX is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AFOS or XOEX?

XOEX is cheaper with a 0.15% expense ratio, compared with 0.45% for AFOS.

Which ETF pays a higher dividend yield, AFOS or XOEX?

XOEX has the higher dividend yield at 1.48%, compared with 0.23% for AFOS.

What is the main difference between AFOS and XOEX?

They also come from different issuers: ARS Investment Partners and Xtrackers. Their fees differ too: 0.45% for AFOS and 0.15% for XOEX.