DSEP vs. XLRI

Last updated Jun 24, 2026

DSEP (FT Cboe Vest U.S. Equity Deep Buffer ETF - September) and XLRI (State Street Real Estate Select Sector SPDR Premium Income ETF) are both exchange-traded funds - DSEP is a Options Trading fund tracking the Cboe S&P 500 30% (-5% to -35%) Buffer Protect September Series Index, while XLRI is a Derivative Income fund actively managed by State Street. DSEP is passively managed, while XLRI is actively managed. At a 0.25 correlation, their price movements are largely independent. DSEP charges 0.85%/yr vs 0.35%/yr for XLRI.

Performance

DSEP vs. XLRI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Cboe Vest U.S. Equity Deep Buffer ETF - September (DSEP) and State Street Real Estate Select Sector SPDR Premium Income ETF (XLRI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DSEP achieves a 4.88% return, which is significantly lower than XLRI's 6.71% return.

DSEP

• 1D: -0.46%
• 1M: 0.10%
• YTD: 4.88%
• 6M: 4.56%
• 1Y: 13.08%
• 3Y*: 11.80%
• 5Y*: 7.91%
• 10Y*: —

XLRI

• 1D: 1.31%
• 1M: 1.23%
• YTD: 6.71%
• 6M: 7.39%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DSEP vs. XLRI - Yearly Performance Comparison

	2026 (YTD)	2025
DSEP FT Cboe Vest U.S. Equity Deep Buffer ETF - September	4.88%	4.18%
XLRI State Street Real Estate Select Sector SPDR Premium Income ETF	6.71%	-0.57%

Correlation

The correlation between DSEP and XLRI is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 30, 2025	0.25

Return for Risk

DSEP vs. XLRI — Risk / Return Rank

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

DSEP

DSEP Risk / Return Rank: 77
DSEP Sharpe Ratio Rank: 77
DSEP Sortino Ratio Rank: 81
DSEP Omega Ratio Rank: 82
DSEP Calmar Ratio Rank: 64
DSEP Martin Ratio Rank: 80

XLRI

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

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.

DSEP vs. XLRI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest U.S. Equity Deep Buffer ETF - September (DSEP) and State Street Real Estate Select Sector SPDR Premium Income ETF (XLRI). 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.

	DSEP	XLRI	Difference
Sharpe ratio: Return per unit of total volatility	2.22	—	—
Sortino ratio: Return per unit of downside risk	3.24	—	—
Omega ratio: Gain probability vs. loss probability	1.44	—	—
Calmar ratio: Return relative to maximum drawdown	2.89	—	—
Martin ratio: Return relative to average drawdown	14.18	—	—

Drawdowns

DSEP vs. XLRI - Drawdown Comparison

The maximum DSEP drawdown since its inception was -11.78%, which is greater than XLRI's maximum drawdown of -7.12%. Use the drawdown chart below to compare losses from any high point for DSEP and XLRI.

Drawdown Indicators

	DSEP	XLRI	Difference
Max Drawdown Largest peak-to-trough decline	-11.78%	-7.12%	-4.66%
Max Drawdown (1Y) Largest decline over 1 year	-4.54%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-9.93%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-11.78%	—	—
Current Drawdown Current decline from peak	-0.67%	-0.54%	-0.13%
Average Drawdown Average peak-to-trough decline	-1.84%	-1.65%	-0.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.92%	—	—

Volatility

Volatility by Period

	DSEP	XLRI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.77%	—	—
Volatility (6M) Calculated over the trailing 6-month period	4.76%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	5.93%	10.99%	-5.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.78%	10.99%	-3.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.47%	10.99%	-3.52%

DSEP vs. XLRI - Expense Ratio Comparison

DSEP has a 0.85% expense ratio, which is higher than XLRI's 0.35% expense ratio.

Dividends

DSEP vs. XLRI - Dividend Comparison

DSEP has not paid dividends to shareholders, while XLRI's dividend yield for the trailing twelve months is around 12.24%.

Position	TTM	2025
DSEP FT Cboe Vest U.S. Equity Deep Buffer ETF - September	0.00%	0.00%
XLRI State Street Real Estate Select Sector SPDR Premium Income ETF	12.24%	6.85%

Frequently Asked Questions

Can I hold both DSEP and XLRI in my portfolio?

DSEP and XLRI have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DSEP or XLRI?

On fees, XLRI is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DSEP or XLRI?

XLRI is cheaper with a 0.35% expense ratio, compared with 0.85% for DSEP.

Which ETF pays a higher dividend yield, DSEP or XLRI?

XLRI has the higher dividend yield at 12.24%, compared with 0.00% for DSEP.

What is the main difference between DSEP and XLRI?

DSEP is categorized as Options Trading, while XLRI is Derivative Income. They also come from different issuers: FT Vest and State Street. Their fees differ too: 0.85% for DSEP and 0.35% for XLRI.