BWX vs. XLU
BWX (SPDR Bloomberg Barclays International Treasury Bond ETF) and XLU (State Street Utilities Select Sector SPDR ETF) are both exchange-traded funds - BWX is a International Government Bonds fund tracking the Bloomberg Global Treasury x US Capped (Inception 8/31/2007), while XLU is a Utilities Equities fund tracking the Utilities Select Sector Index. Both are passively managed. Over the past 10 years, BWX returned -1.28%/yr vs 9.15%/yr for XLU. At a 0.19 correlation, their price movements are largely independent. BWX charges 0.35%/yr vs 0.08%/yr for XLU.
Performance
BWX vs. XLU - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, BWX achieves a -1.91% return, which is significantly lower than XLU's 3.11% return. Over the past 10 years, BWX has underperformed XLU with an annualized return of -1.28%, while XLU has yielded a comparatively higher 9.15% annualized return.
BWX
- 1D
- -0.59%
- 1M
- -0.88%
- YTD
- -1.91%
- 6M
- -1.77%
- 1Y
- -2.28%
- 3Y*
- 1.18%
- 5Y*
- -4.48%
- 10Y*
- -1.28%
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%
BWX vs. XLU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BWX SPDR Bloomberg Barclays International Treasury Bond ETF | -1.91% | 7.67% | -5.93% | 5.10% | -19.72% | -8.67% | 9.50% | 5.58% | -1.85% | 9.93% |
XLU State Street Utilities Select Sector SPDR ETF | 3.11% | 16.03% | 23.31% | -7.18% | 1.44% | 17.70% | 0.51% | 25.93% | 3.94% | 12.05% |
Correlation
The correlation between BWX and XLU is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Oct 12, 2007 | 0.19 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
BWX vs. XLU — Risk / Return Rank
BWX
XLU
BWX vs. XLU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Barclays International Treasury Bond ETF (BWX) 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.
| BWX | XLU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.93 | ||
| Sortino ratioReturn per unit of downside risk | -1.32 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.12 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | -0.37 | 1.00 | -1.37 |
| Martin ratioReturn relative to average drawdown | -0.76 | 2.24 | -3.00 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| BWX | XLU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.30 | 0.63 | -0.93 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.47 | 0.54 | -1.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.15 | 0.48 | -0.62 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.05 | 0.40 | -0.34 |
Drawdowns
BWX vs. XLU - Drawdown Comparison
The maximum BWX drawdown since its inception was -34.05%, smaller than the maximum XLU drawdown of -51.98%. Use the drawdown chart below to compare losses from any high point for BWX and XLU.
Loading charts...
Drawdown Indicators
| BWX | XLU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.05% | -51.98% | +17.93% |
Max Drawdown (1Y)Largest decline over 1 year | -6.16% | -9.18% | +3.02% |
Max Drawdown (3Y)Largest decline over 3 years | -10.22% | -17.26% | +7.04% |
Max Drawdown (5Y)Largest decline over 5 years | -31.25% | -25.26% | -5.99% |
Max Drawdown (10Y)Largest decline over 10 years | -34.05% | -36.07% | +2.02% |
Current DrawdownCurrent decline from peak | -23.98% | -7.78% | -16.20% |
Average DrawdownAverage peak-to-trough decline | -10.05% | -10.22% | +0.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.00% | 4.09% | -1.09% |
Volatility
BWX vs. XLU - Volatility Comparison
The current volatility for SPDR Bloomberg Barclays International Treasury Bond ETF (BWX) is 2.41%, while State Street Utilities Select Sector SPDR ETF (XLU) has a volatility of 5.41%. This indicates that BWX 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.
Loading charts...
Volatility by Period
| BWX | XLU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.41% | 5.41% | -3.00% |
Volatility (6M)Calculated over the trailing 6-month period | 5.79% | 11.53% | -5.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.70% | 14.57% | -6.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.69% | 17.32% | -7.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.66% | 19.26% | -10.60% |
BWX vs. XLU - Expense Ratio Comparison
BWX has a 0.35% expense ratio, which is higher than XLU's 0.08% expense ratio.
Dividends
BWX vs. XLU - Dividend Comparison
BWX's dividend yield for the trailing twelve months is around 2.37%, less than XLU's 2.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BWX SPDR Bloomberg Barclays International Treasury Bond ETF | 2.37% | 2.19% | 1.99% | 1.63% | 1.23% | 0.93% | 0.95% | 1.16% | 1.07% | 0.46% | 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
BWX and XLU have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XLU has higher volatility (5.41%) compared to BWX (2.41%). In terms of maximum drawdown, BWX dropped -34.05% vs XLU's -51.98%.
On 10-year performance, XLU leads with 9.15% vs -1.28% for BWX. On fees, XLU is cheaper at 0.08% per year. On volatility, BWX has been the lower-risk option at 2.41%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, XLU has performed better with a 9.15% return vs -1.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XLU is cheaper with a 0.08% expense ratio, compared with 0.35% for BWX.
XLU has the higher dividend yield at 2.72%, compared with 2.37% for BWX.
BWX is categorized as International Government Bonds, while XLU is Utilities Equities. BWX tracks Bloomberg Global Treasury x US Capped (Inception 8/31/2007), while XLU tracks Utilities Select Sector Index. Their fees differ too: 0.35% for BWX and 0.08% for XLU.
XLU currently has the higher Sharpe Ratio (0.63 vs -0.30), 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.
Find the right allocation for BWX and XLU
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer