BCFN vs. XLF

Last updated Jun 23, 2026

BCFN (Baron Financials ETF) and XLF (State Street Financial Select Sector SPDR ETF) are both Financials Equities funds - BCFN tracks the Actively Managed while XLF tracks the Financial Select Sector Index. Both are passively managed. A 0.79 correlation means they provide meaningful diversification when combined. BCFN charges 0.80%/yr vs 0.08%/yr for XLF.

Performance

BCFN vs. XLF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Baron Financials ETF (BCFN) and State Street Financial Select Sector SPDR ETF (XLF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BCFN achieves a -14.51% return, which is significantly lower than XLF's -1.10% return.

BCFN

• 1D: -0.18%
• 1M: 0.68%
• YTD: -14.51%
• 6M: -15.75%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

XLF

• 1D: 0.59%
• 1M: 3.75%
• YTD: -1.10%
• 6M: -2.09%
• 1Y: 8.66%
• 3Y*: 19.81%
• 5Y*: 10.20%
• 10Y*: 13.68%

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

BCFN vs. XLF - Yearly Performance Comparison

	2026 (YTD)	2025
BCFN Baron Financials ETF	-14.51%	-0.45%
XLF State Street Financial Select Sector SPDR ETF	-1.10%	0.02%

Correlation

The correlation between BCFN and XLF is 0.79, 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 Dec 15, 2025	0.79

Return for Risk

BCFN vs. XLF — Risk / Return Rank

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

BCFN

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

XLF

XLF Risk / Return Rank: 16
XLF Sharpe Ratio Rank: 18
XLF Sortino Ratio Rank: 16
XLF Omega Ratio Rank: 16
XLF Calmar Ratio Rank: 15
XLF Martin Ratio Rank: 15

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.

BCFN vs. XLF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Baron Financials ETF (BCFN) and State Street Financial Select Sector SPDR ETF (XLF). 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.

	BCFN	XLF	Difference
Sharpe ratio: Return per unit of total volatility	—	0.60	—
Sortino ratio: Return per unit of downside risk	—	0.89	—
Omega ratio: Gain probability vs. loss probability	—	1.11	—
Calmar ratio: Return relative to maximum drawdown	—	0.59	—
Martin ratio: Return relative to average drawdown	—	1.50	—

Drawdowns

BCFN vs. XLF - Drawdown Comparison

The maximum BCFN drawdown since its inception was -20.95%, smaller than the maximum XLF drawdown of -82.69%. Use the drawdown chart below to compare losses from any high point for BCFN and XLF.

Drawdown Indicators

	BCFN	XLF	Difference
Max Drawdown Largest peak-to-trough decline	-20.95%	-82.69%	+61.74%
Max Drawdown (1Y) Largest decline over 1 year	—	-14.79%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-15.54%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-25.81%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-42.86%	—
Current Drawdown Current decline from peak	-16.64%	-3.96%	-12.68%
Average Drawdown Average peak-to-trough decline	-12.57%	-20.00%	+7.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.78%	—

Volatility

Volatility by Period

	BCFN	XLF	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.12%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.27%	—
Volatility (1Y) Calculated over the trailing 1-year period	19.05%	14.64%	+4.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.05%	18.58%	+0.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.05%	22.18%	-3.13%

BCFN vs. XLF - Expense Ratio Comparison

BCFN has a 0.80% expense ratio, which is higher than XLF's 0.08% expense ratio.

Dividends

BCFN vs. XLF - Dividend Comparison

BCFN has not paid dividends to shareholders, while XLF's dividend yield for the trailing twelve months is around 1.82%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BCFN Baron Financials ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XLF State Street Financial Select Sector SPDR ETF	1.82%	1.31%	1.42%	1.71%	2.04%	1.63%	2.03%	1.87%	2.08%	1.48%	21.10%	1.95%

Frequently Asked Questions

Can I hold both BCFN and XLF in my portfolio?

BCFN and XLF have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BCFN or XLF?

On fees, XLF is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BCFN or XLF?

XLF is cheaper with a 0.08% expense ratio, compared with 0.80% for BCFN.

Which ETF pays a higher dividend yield, BCFN or XLF?

XLF has the higher dividend yield at 1.82%, compared with 0.00% for BCFN.

What is the main difference between BCFN and XLF?

BCFN tracks Actively Managed, while XLF tracks Financial Select Sector Index. They also come from different issuers: Baron Capital and State Street. Their fees differ too: 0.80% for BCFN and 0.08% for XLF.