BL vs. XLF

Last updated Apr 2, 2026

Compare and contrast key facts about BlackLine, Inc. (BL) and Financial Select Sector SPDR Fund (XLF).

XLF is a passively managed fund by State Street that tracks the performance of the Financial Select Sector Index. It was launched on Dec 16, 1998.

Performance

BL vs. XLF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackLine, Inc. (BL) and Financial Select Sector SPDR Fund (XLF). The values are adjusted to include any dividend payments, if applicable.

BL vs. XLF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BL BlackLine, Inc.	-34.04%	-9.00%	-2.69%	-7.18%	-35.03%	-22.37%	158.69%	25.91%	24.85%	18.71%
XLF Financial Select Sector SPDR Fund	-9.27%	14.90%	30.56%	12.03%	-10.59%	34.80%	-1.74%	31.88%	-13.06%	22.00%

Returns By Period

In the year-to-date period, BL achieves a -34.04% return, which is significantly lower than XLF's -9.27% return.

BL

• 1D: -1.43%
• 1M: 1.28%
• YTD: -34.04%
• 6M: -28.60%
• 1Y: -25.77%
• 3Y*: -18.41%
• 5Y*: -20.00%
• 10Y*: —

XLF

• 1D: 0.14%
• 1M: -3.13%
• YTD: -9.27%
• 6M: -6.60%
• 1Y: 0.91%
• 3Y*: 17.30%
• 5Y*: 9.37%
• 10Y*: 12.45%

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

Return for Risk

BL vs. XLF — Risk / Return Rank

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

BL

BL Risk / Return Rank: 15
BL Sharpe Ratio Rank: 13
BL Sortino Ratio Rank: 15
BL Omega Ratio Rank: 15
BL Calmar Ratio Rank: 23
BL Martin Ratio Rank: 8

XLF

XLF Risk / Return Rank: 13
XLF Sharpe Ratio Rank: 13
XLF Sortino Ratio Rank: 12
XLF Omega Ratio Rank: 12
XLF Calmar Ratio Rank: 13
XLF Martin Ratio Rank: 13

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.

BL vs. XLF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackLine, Inc. (BL) and Financial Select Sector SPDR Fund (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.

	BL	XLF	Difference
Sharpe ratio Return per unit of total volatility	-0.65	0.05	-0.70
Sortino ratio Return per unit of downside risk	-0.73	0.19	-0.93
Omega ratio Gain probability vs. loss probability	0.91	1.03	-0.12
Calmar ratio Return relative to maximum drawdown	-0.55	0.05	-0.61
Martin ratio Return relative to average drawdown	-1.53	0.16	-1.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BL vs. XLF - Sharpe Ratio Comparison

The current BL Sharpe Ratio is -0.65, which is lower than the XLF Sharpe Ratio of 0.05. The chart below compares the historical Sharpe Ratios of BL and XLF, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BL	XLF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.65	0.05	-0.70
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.47	0.50	-0.97
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.56	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.11	0.20	-0.09

Correlation

The correlation between BL and XLF is 0.33, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

BL vs. XLF - Dividend Comparison

BL has not paid dividends to shareholders, while XLF's dividend yield for the trailing twelve months is around 1.60%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BL BlackLine, Inc.	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 Financial Select Sector SPDR Fund	1.60%	1.31%	1.42%	1.71%	2.04%	1.63%	2.03%	1.87%	2.08%	1.48%	21.10%	1.95%

Drawdowns

BL vs. XLF - Drawdown Comparison

The maximum BL drawdown since its inception was -78.37%, smaller than the maximum XLF drawdown of -82.69%. Use the drawdown chart below to compare losses from any high point for BL and XLF.

Drawdown Indicators

	BL	XLF	Difference
Max Drawdown Largest peak-to-trough decline	-78.37%	-82.69%	+4.32%
Max Drawdown (1Y) Largest decline over 1 year	-44.72%	-14.79%	-29.93%
Max Drawdown (5Y) Largest decline over 5 years	-75.25%	-25.81%	-49.44%
Max Drawdown (10Y) Largest decline over 10 years	—	-42.86%	—
Current Drawdown Current decline from peak	-75.75%	-11.89%	-63.86%
Average Drawdown Average peak-to-trough decline	-34.23%	-20.10%	-14.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.11%	4.96%	+11.15%

Volatility

BL vs. XLF - Volatility Comparison

BlackLine, Inc. (BL) has a higher volatility of 13.32% compared to Financial Select Sector SPDR Fund (XLF) at 4.76%. This indicates that BL's price experiences larger fluctuations and is considered to be riskier than XLF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BL	XLF	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.32%	4.76%	+8.56%
Volatility (6M) Calculated over the trailing 6-month period	31.81%	11.45%	+20.36%
Volatility (1Y) Calculated over the trailing 1-year period	39.70%	19.25%	+20.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	42.92%	18.69%	+24.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.18%	22.18%	+22.00%