ALLW vs. XLU

Last updated Jun 4, 2026

ALLW (SPDR Bridgewater All Weather ETF) and XLU (State Street Utilities Select Sector SPDR ETF) are both exchange-traded funds - ALLW is a Tactical Allocation fund actively managed by State Street, while XLU is a Utilities Equities fund tracking the Utilities Select Sector Index. ALLW is actively managed, while XLU is passively managed. Over the past year, ALLW returned 23.78% vs 9.11% for XLU. At a 0.38 correlation, their price movements are largely independent. ALLW charges 0.85%/yr vs 0.08%/yr for XLU.

Performance

ALLW vs. XLU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Bridgewater All Weather ETF (ALLW) and State Street Utilities Select Sector SPDR ETF (XLU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ALLW achieves a 9.20% return, which is significantly higher than XLU's 3.11% return.

ALLW

• 1D: -0.76%
• 1M: 0.91%
• YTD: 9.20%
• 6M: 8.47%
• 1Y: 23.78%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XLU

• 1D: -0.43%
• 1M: -5.74%
• YTD: 3.11%
• 6M: 1.25%
• 1Y: 9.11%
• 3Y*: 13.74%
• 5Y*: 9.25%
• 10Y*: 9.15%

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

ALLW vs. XLU - Yearly Performance Comparison

	2026 (YTD)	2025
ALLW SPDR Bridgewater All Weather ETF	9.20%	15.04%
XLU State Street Utilities Select Sector SPDR ETF	3.11%	15.73%

Correlation

The correlation between ALLW and XLU is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (All Time) Calculated using the full available price history since Mar 7, 2025	0.38

ALLW vs. XLU - Sectors Allocation Comparison

Sectors	ALLW	XLU
Technology	26.3%	-
Financial Services	15.8%	-
Consumer Cyclical	11.0%	-
Communication Services	9.7%	-
Industrials	9.2%	-
Healthcare	8.2%	-
Consumer Defensive	5.9%	-
Energy	4.9%	-
Basic Materials	4.6%	-
Utilities	2.8%	100.0%
Real Estate	1.8%	-

Return for Risk

ALLW vs. XLU — Risk / Return Rank

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

ALLW

ALLW Risk / Return Rank: 67
ALLW Sharpe Ratio Rank: 67
ALLW Sortino Ratio Rank: 64
ALLW Omega Ratio Rank: 67
ALLW Calmar Ratio Rank: 66
ALLW Martin Ratio Rank: 73

XLU

XLU Risk / Return Rank: 19
XLU Sharpe Ratio Rank: 19
XLU Sortino Ratio Rank: 18
XLU Omega Ratio Rank: 18
XLU Calmar Ratio Rank: 22
XLU Martin Ratio Rank: 19

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.

ALLW vs. XLU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Bridgewater All Weather ETF (ALLW) and State Street Utilities Select Sector SPDR ETF (XLU). 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.

	ALLW	XLU	Difference
Sharpe ratio: Return per unit of total volatility	2.27	0.63	+1.64
Sortino ratio: Return per unit of downside risk	3.05	0.94	+2.11
Omega ratio: Gain probability vs. loss probability	1.41	1.12	+0.30
Calmar ratio: Return relative to maximum drawdown	3.30	1.00	+2.31
Martin ratio: Return relative to average drawdown	14.01	2.24	+11.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ALLW vs. XLU - Sharpe Ratio Comparison

The current ALLW Sharpe Ratio is 2.27, which is higher than the XLU Sharpe Ratio of 0.63. The chart below compares the historical Sharpe Ratios of ALLW and XLU, 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

	ALLW	XLU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.27	0.63	+1.64
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.54	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.48	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.62	0.40	+1.22

Drawdowns

ALLW vs. XLU - Drawdown Comparison

The maximum ALLW drawdown since its inception was -8.78%, smaller than the maximum XLU drawdown of -51.98%. Use the drawdown chart below to compare losses from any high point for ALLW and XLU.

Drawdown Indicators

	ALLW	XLU	Difference
Max Drawdown Largest peak-to-trough decline	-8.78%	-51.98%	+43.20%
Max Drawdown (1Y) Largest decline over 1 year	-7.23%	-9.18%	+1.95%
Max Drawdown (3Y) Largest decline over 3 years	—	-17.26%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-25.26%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-36.07%	—
Current Drawdown Current decline from peak	-0.79%	-7.78%	+6.99%
Average Drawdown Average peak-to-trough decline	-1.20%	-10.22%	+9.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.70%	4.09%	-2.39%

Volatility

ALLW vs. XLU - Volatility Comparison

The current volatility for SPDR Bridgewater All Weather ETF (ALLW) is 3.43%, while State Street Utilities Select Sector SPDR ETF (XLU) has a volatility of 5.41%. This indicates that ALLW experiences smaller price fluctuations and is considered to be less risky than XLU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ALLW	XLU	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.43%	5.41%	-1.98%
Volatility (6M) Calculated over the trailing 6-month period	8.71%	11.53%	-2.82%
Volatility (1Y) Calculated over the trailing 1-year period	10.52%	14.57%	-4.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.54%	17.32%	-4.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.54%	19.26%	-6.72%

ALLW vs. XLU - Expense Ratio Comparison

ALLW has a 0.85% expense ratio, which is higher than XLU's 0.08% expense ratio.

Dividends

ALLW vs. XLU - Dividend Comparison

ALLW's dividend yield for the trailing twelve months is around 4.28%, more than XLU's 2.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ALLW SPDR Bridgewater All Weather ETF	4.28%	4.67%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XLU State Street Utilities Select Sector SPDR ETF	2.72%	2.71%	2.96%	3.39%	2.92%	2.79%	3.14%	2.95%	3.33%	3.33%	3.41%	3.67%

Frequently Asked Questions

Can I hold both ALLW and XLU in my portfolio?

ALLW and XLU have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ALLW or XLU?

XLU has higher volatility (5.41%) compared to ALLW (3.43%). In terms of maximum drawdown, ALLW dropped -8.78% vs XLU's -51.98%.

Which ETF is better, ALLW or XLU?

On 1-year performance, ALLW leads with 23.78% vs 9.11% for XLU. On fees, XLU is cheaper at 0.08% per year. On volatility, ALLW has been the lower-risk option at 3.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ALLW or XLU?

Over the 1-year period, ALLW has performed better with a 23.78% return vs 9.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ALLW or XLU?

XLU is cheaper with a 0.08% expense ratio, compared with 0.85% for ALLW.

Which ETF pays a higher dividend yield, ALLW or XLU?

ALLW has the higher dividend yield at 4.28%, compared with 2.72% for XLU.

What is the main difference between ALLW and XLU?

ALLW is categorized as Tactical Allocation, while XLU is Utilities Equities. Their fees differ too: 0.85% for ALLW and 0.08% for XLU.

Which has better risk-adjusted returns?

ALLW currently has the higher Sharpe Ratio (2.27 vs 0.63), 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.