AWR vs. XLI

Last updated Jun 4, 2026

AWR (American States Water Company) is a stock, while XLI (Industrial Select Sector SPDR Fund) is Industrials Equities fund tracking the Industrial Select Sector Index. Over the past 10 years, AWR returned 8.62%/yr vs 13.99%/yr for XLI. At a 0.37 correlation, their price movements are largely independent.

Performance

AWR vs. XLI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American States Water Company (AWR) and Industrial Select Sector SPDR Fund (XLI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AWR achieves a 6.67% return, which is significantly lower than XLI's 12.52% return. Over the past 10 years, AWR has underperformed XLI with an annualized return of 8.62%, while XLI has yielded a comparatively higher 13.99% annualized return.

AWR

• 1D: -1.31%
• 1M: 0.93%
• YTD: 6.67%
• 6M: 5.97%
• 1Y: -0.10%
• 3Y*: -3.64%
• 5Y*: 1.46%
• 10Y*: 8.62%

XLI

• 1D: -0.08%
• 1M: 1.80%
• YTD: 12.52%
• 6M: 13.57%
• 1Y: 22.72%
• 3Y*: 21.72%
• 5Y*: 12.26%
• 10Y*: 13.99%

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

AWR vs. XLI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AWR American States Water Company	6.67%	-4.32%	-1.18%	-11.43%	-8.92%	32.25%	-6.75%	31.19%	17.91%	29.76%
XLI Industrial Select Sector SPDR Fund	12.52%	19.35%	17.31%	18.13%	-5.57%	21.08%	10.91%	29.08%	-13.25%	23.98%

Correlation

The correlation between AWR and XLI is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (5Y) Calculated over the trailing 5-year period	0.30
Correlation (10Y) Calculated over the trailing 10-year period	0.30
Correlation (All Time) Calculated using the full available price history since Dec 23, 1998	0.37

Over the past year, the correlation between AWR and XLI has dropped to 0.04 - well below their long-term average of 0.37, suggesting their price drivers have been diverging.

Return for Risk

AWR vs. XLI — Risk / Return Rank

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

AWR

AWR Risk / Return Rank: 37
AWR Sharpe Ratio Rank: 40
AWR Sortino Ratio Rank: 32
AWR Omega Ratio Rank: 33
AWR Calmar Ratio Rank: 40
AWR Martin Ratio Rank: 40

XLI

XLI Risk / Return Rank: 41
XLI Sharpe Ratio Rank: 41
XLI Sortino Ratio Rank: 43
XLI Omega Ratio Rank: 38
XLI Calmar Ratio Rank: 37
XLI Martin Ratio Rank: 45

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.

AWR vs. XLI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American States Water Company (AWR) and Industrial Select Sector SPDR Fund (XLI). 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.

	AWR	XLI	Difference
Sharpe ratio: Return per unit of total volatility	-0.01	1.49	-1.49
Sortino ratio: Return per unit of downside risk	0.14	2.18	-2.04
Omega ratio: Gain probability vs. loss probability	1.02	1.26	-0.24
Calmar ratio: Return relative to maximum drawdown	-0.01	1.87	-1.88
Martin ratio: Return relative to average drawdown	-0.02	7.41	-7.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AWR vs. XLI - Sharpe Ratio Comparison

The current AWR Sharpe Ratio is -0.01, which is lower than the XLI Sharpe Ratio of 1.49. The chart below compares the historical Sharpe Ratios of AWR and XLI, 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

	AWR	XLI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.01	1.49	-1.49
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.06	0.71	-0.64
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.33	0.70	-0.37
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.45	-0.06

Drawdowns

AWR vs. XLI - Drawdown Comparison

The maximum AWR drawdown since its inception was -37.39%, smaller than the maximum XLI drawdown of -62.26%. Use the drawdown chart below to compare losses from any high point for AWR and XLI.

Drawdown Indicators

	AWR	XLI	Difference
Max Drawdown Largest peak-to-trough decline	-37.39%	-62.26%	+24.87%
Max Drawdown (1Y) Largest decline over 1 year	-11.55%	-12.21%	+0.66%
Max Drawdown (3Y) Largest decline over 3 years	-26.73%	-18.49%	-8.24%
Max Drawdown (5Y) Largest decline over 5 years	-32.85%	-21.64%	-11.21%
Max Drawdown (10Y) Largest decline over 10 years	-32.85%	-42.33%	+9.48%
Current Drawdown Current decline from peak	-18.64%	-2.44%	-16.20%
Average Drawdown Average peak-to-trough decline	-10.81%	-9.21%	-1.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.41%	3.07%	+3.34%

Volatility

AWR vs. XLI - Volatility Comparison

The current volatility for American States Water Company (AWR) is 4.15%, while Industrial Select Sector SPDR Fund (XLI) has a volatility of 4.80%. This indicates that AWR experiences smaller price fluctuations and is considered to be less risky than XLI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AWR	XLI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.15%	4.80%	-0.65%
Volatility (6M) Calculated over the trailing 6-month period	14.83%	12.79%	+2.04%
Volatility (1Y) Calculated over the trailing 1-year period	20.03%	15.38%	+4.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.62%	17.42%	+5.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.15%	19.98%	+6.17%

Dividends

AWR vs. XLI - Dividend Comparison

AWR's dividend yield for the trailing twelve months is around 2.64%, more than XLI's 1.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AWR American States Water Company	2.64%	2.68%	2.30%	2.06%	1.65%	1.35%	1.61%	1.34%	1.58%	1.72%	2.01%	2.08%
XLI Industrial Select Sector SPDR Fund	1.18%	1.29%	1.44%	1.63%	1.63%	1.25%	1.55%	1.94%	2.15%	1.77%	2.07%	2.15%

Frequently Asked Questions

Can I hold both AWR and XLI in my portfolio?

AWR and XLI have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AWR or XLI?

XLI has higher volatility (4.80%) compared to AWR (4.15%). In terms of maximum drawdown, AWR dropped -37.39% vs XLI's -62.26%.

Which has better risk-adjusted returns?

XLI currently has the higher Sharpe Ratio (1.49 vs -0.01), 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.