CNA vs. XLF
CNA (CNA Financial Corporation) is a stock, while XLF (State Street Financial Select Sector SPDR ETF) is Financials Equities fund tracking the Financial Select Sector Index. Over the past 10 years, CNA returned 13.21%/yr vs 13.69%/yr for XLF. Their 0.63 correlation means they have sometimes moved together and sometimes differently.
Performance
CNA vs. XLF - Performance Comparison
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Returns By Period
In the year-to-date period, CNA achieves a 16.93% return, which is significantly higher than XLF's 4.86% return. Both investments have delivered pretty close results over the past 10 years, with CNA having a 13.21% annualized return and XLF not far ahead at 13.69%.
CNA
- 1D
- -1.48%
- 1M
- 2.54%
- 6M
- 16.64%
- YTD
- 16.93%
- 1Y
- 29.71%
- 3Y*
- 19.24%
- 5Y*
- 11.93%
- 10Y*
- 13.21%
- ALL TIME*
- 5.13%
XLF
- 1D
- -0.11%
- 1M
- 2.37%
- 6M
- 7.47%
- YTD
- 4.86%
- 1Y
- 12.50%
- 3Y*
- 19.11%
- 5Y*
- 11.20%
- 10Y*
- 13.69%
- ALL TIME*
- 6.09%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $24.25M | $25.90M | $26.39M | |
| $1.84B | $1.93B | $1.92B |
CNA vs. XLF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CNA CNA Financial Corporation | 16.93% | 6.96% | 23.96% | 7.14% | 3.82% | 19.07% | -5.42% | 9.47% | -11.12% | 36.94% |
XLF State Street Financial Select Sector SPDR ETF | 4.86% | 14.90% | 30.56% | 12.03% | -10.59% | 34.80% | -1.74% | 31.88% | -13.06% | 22.00% |
Correlation
The correlation between CNA and XLF is 0.40, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.40 |
Correlation (3Y) Balances recent behavior with more history. | 0.49 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.59 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.63 |
Correlation (All Time) Calculated using the full available price history since Dec 22, 1998 | 0.63 |
Over the past year, the correlation between CNA and XLF has dropped to 0.40 - well below their long-term average of 0.63, suggesting their price drivers have been diverging.
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Return for Risk
CNA vs. XLF — Risk / Return Rank
CNA
XLF
CNA vs. XLF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CNA Financial Corporation (CNA) 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.
| CNA | XLF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.65 | ||
| Sortino ratioReturn per unit of downside risk | +0.85 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.13 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.96 | 0.71 | +1.26 |
| Martin ratioReturn relative to average drawdown | 4.50 | 1.80 | +2.70 |
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Drawdowns
CNA vs. XLF - Drawdown Comparison
The maximum CNA drawdown since its inception was -87.48%, which is greater than XLF's maximum drawdown of -82.69%. Use the drawdown chart below to compare losses from any high point for CNA and XLF.
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Drawdown Indicators
| CNA | XLF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.48% | -82.69% | -4.79% |
Max Drawdown (1Y)Largest decline over 1 year | -14.55% | -14.79% | +0.24% |
Max Drawdown (3Y)Largest decline over 3 years | -14.55% | -15.54% | +0.99% |
Max Drawdown (5Y)Largest decline over 5 years | -25.67% | -25.81% | +0.14% |
Max Drawdown (10Y)Largest decline over 10 years | -45.91% | -42.86% | -3.05% |
Current DrawdownCurrent decline from peak | -5.13% | -1.15% | -3.98% |
Average DrawdownAverage peak-to-trough decline | -25.47% | -19.92% | -5.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.33% | 5.79% | +0.54% |
Volatility
CNA vs. XLF - Volatility Comparison
CNA Financial Corporation (CNA) has a higher volatility of 8.06% compared to State Street Financial Select Sector SPDR ETF (XLF) at 4.07%. This indicates that CNA'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.
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Volatility by Period
| CNA | XLF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.06% | 4.07% | +3.99% |
Volatility (6M)Calculated over the trailing 6-month period | 17.11% | 11.10% | +6.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.98% | 14.77% | +6.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.56% | 18.45% | +3.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.98% | 22.08% | +2.90% |
Dividends
CNA vs. XLF - Dividend Comparison
CNA's dividend yield for the trailing twelve months is around 7.39%, more than XLF's 1.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CNA CNA Financial Corporation | 7.39% | 8.04% | 7.77% | 6.81% | 8.51% | 5.15% | 8.93% | 7.59% | 7.47% | 5.84% | 7.23% | 8.53% |
XLF State Street Financial Select Sector SPDR ETF | 1.42% | 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
CNA and XLF have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CNA has higher volatility (8.06%) compared to XLF (4.07%). In terms of maximum drawdown, CNA dropped -87.48% vs XLF's -82.69%.
CNA currently has the higher Sharpe Ratio (1.36 vs 0.71), 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.
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