BPAY vs. XLFI

Last updated Aug 4, 2026

BPAY (BlackRock Future Financial and Technology ETF) and XLFI (State Street Financial Select Sector SPDR Premium Income ETF) are both exchange-traded funds - BPAY is a Financials Equities fund actively managed by BlackRock, while XLFI is a Derivative Income fund actively managed by State Street. Both are actively managed. Over the past year, BPAY returned -8.96% vs 12.57% for XLFI. Their 0.64 correlation means they have sometimes moved together and sometimes differently. BPAY charges 0.70%/yr vs 0.35%/yr for XLFI.

Performance

BPAY vs. XLFI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Future Financial and Technology ETF (BPAY) and State Street Financial Select Sector SPDR Premium Income ETF (XLFI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BPAY achieves a 1.06% return, which is significantly lower than XLFI's 4.34% return.

BPAY

• 1D: 2.59%
• 1M: 2.70%
• 6M: 7.30%
• YTD: 1.06%
• 1Y: -8.96%
• 3Y*: 10.51%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.12%

XLFI

• 1D: 1.13%
• 1M: 3.25%
• 6M: 5.06%
• YTD: 4.34%
• 1Y: 12.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 9.86%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BPAY BlackRock Future Financial and Technology ETF	$86.28K	$88.05K	$57.14K
XLFI State Street Financial Select Sector SPDR Premium Income ETF	$182.20K	$220.07K	$173.47K

BPAY vs. XLFI - Yearly Performance Comparison

	2026 (YTD)	2025
BPAY BlackRock Future Financial and Technology ETF	1.06%	-13.26%
XLFI State Street Financial Select Sector SPDR Premium Income ETF	4.34%	5.40%

Correlation

The correlation between BPAY and XLFI is 0.64, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.64
Correlation (All Time) Calculated using the full available price history since Jul 30, 2025	0.64

The correlation between BPAY and XLFI has been stable across timeframes, ranging from 0.64 to 0.64 - a consistent structural relationship.

BPAY vs. XLFI - Sectors Allocation Comparison

Sectors	BPAY	XLFI
Financial Services	54.2%	100.4%
Technology	35.5%	-
Consumer Cyclical	6.1%	-
Industrials	4.3%	-
Real Estate	2.2%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Utilities	-	-

Return for Risk

BPAY vs. XLFI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BPAY

BPAY Risk / Return Rank: 7
BPAY Sharpe Ratio Rank: 7
BPAY Sortino Ratio Rank: 7
BPAY Omega Ratio Rank: 7
BPAY Calmar Ratio Rank: 7
BPAY Martin Ratio Rank: 8

XLFI

XLFI Risk / Return Rank: 35
XLFI Sharpe Ratio Rank: 39
XLFI Sortino Ratio Rank: 36
XLFI Omega Ratio Rank: 38
XLFI Calmar Ratio Rank: 30
XLFI Martin Ratio Rank: 31

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BPAY vs. XLFI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Future Financial and Technology ETF (BPAY) and State Street Financial Select Sector SPDR Premium Income ETF (XLFI). 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.

	BPAY	XLFI	Difference
Sharpe ratio: Return per unit of total volatility	-0.34	1.07	-1.41
Sortino ratio: Return per unit of downside risk	-0.31	1.45	-1.76
Omega ratio: Gain probability vs. loss probability	0.96	1.20	-0.23
Calmar ratio: Return relative to maximum drawdown	-0.27	1.06	-1.34
Martin ratio: Return relative to average drawdown	-0.50	2.98	-3.48

BPAY vs. XLFI - Sharpe Ratio Comparison

The current BPAY Sharpe Ratio is -0.34, which is lower than the XLFI Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of BPAY and XLFI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BPAY vs. XLFI - Drawdown Comparison

The maximum BPAY drawdown since its inception was -33.62%, which is greater than XLFI's maximum drawdown of -11.89%. Use the drawdown chart below to compare losses from any high point for BPAY and XLFI.

Drawdown Indicators

	BPAY	XLFI	Difference
Max Drawdown Largest peak-to-trough decline	-33.62%	-11.89%	-21.73%
Max Drawdown (1Y) Largest decline over 1 year	-32.78%	-11.89%	-20.89%
Max Drawdown (3Y) Largest decline over 3 years	-33.62%	—	—
Current Drawdown Current decline from peak	-14.63%	0.00%	-14.63%
Average Drawdown Average peak-to-trough decline	-10.92%	-3.01%	-7.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.96%	4.22%	+13.74%

Volatility

BPAY vs. XLFI - Volatility Comparison

BlackRock Future Financial and Technology ETF (BPAY) has a higher volatility of 6.93% compared to State Street Financial Select Sector SPDR Premium Income ETF (XLFI) at 2.84%. This indicates that BPAY's price experiences larger fluctuations and is considered to be riskier than XLFI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BPAY	XLFI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.93%	2.84%	+4.09%
Volatility (6M) Calculated over the trailing 6-month period	20.41%	9.14%	+11.27%
Volatility (1Y) Calculated over the trailing 1-year period	26.16%	11.82%	+14.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.50%	11.88%	+12.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.50%	11.88%	+12.62%

BPAY vs. XLFI - Expense Ratio Comparison

BPAY has a 0.70% expense ratio, which is higher than XLFI's 0.35% expense ratio.

Dividends

BPAY vs. XLFI - Dividend Comparison

BPAY's dividend yield for the trailing twelve months is around 6.71%, less than XLFI's 12.13% yield.

Position	TTM	2025	2024	2023	2022
BPAY BlackRock Future Financial and Technology ETF	6.71%	6.49%	0.48%	1.18%	0.18%
XLFI State Street Financial Select Sector SPDR Premium Income ETF	12.13%	5.57%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BPAY and XLFI in my portfolio?

BPAY and XLFI 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 is riskier, BPAY or XLFI?

BPAY has higher volatility (6.93%) compared to XLFI (2.84%). In terms of maximum drawdown, BPAY dropped -33.62% vs XLFI's -11.89%.

Which ETF is better, BPAY or XLFI?

On 1-year performance, XLFI leads with 12.57% vs -8.96% for BPAY. On fees, XLFI is cheaper at 0.35% per year. On volatility, XLFI has been the lower-risk option at 2.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BPAY or XLFI?

Over the 1-year period, XLFI has performed better with a 12.57% return vs -8.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BPAY or XLFI?

XLFI is cheaper with a 0.35% expense ratio, compared with 0.70% for BPAY.

Which ETF pays a higher dividend yield, BPAY or XLFI?

XLFI has the higher dividend yield at 12.13%, compared with 6.71% for BPAY.

What is the main difference between BPAY and XLFI?

BPAY is categorized as Financials Equities, while XLFI is Derivative Income. They also come from different issuers: BlackRock and State Street. Their fees differ too: 0.70% for BPAY and 0.35% for XLFI.

Which has better risk-adjusted returns?

XLFI currently has the higher Sharpe Ratio (1.07 vs -0.34), 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.