DVIN vs. XLI

Last updated Jun 25, 2026

DVIN (WEBs Industrials XLI Defined Volatility ETF) and XLI (Industrial Select Sector SPDR Fund) are both Industrials Equities funds - DVIN tracks the Syntax Defined Volatility XLI Index while XLI tracks the Industrial Select Sector Index. Both are passively managed. With a 0.98 correlation, they move nearly in lockstep. DVIN charges 0.89%/yr vs 0.08%/yr for XLI.

Performance

DVIN vs. XLI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WEBs Industrials XLI Defined Volatility ETF (DVIN) and Industrial Select Sector SPDR Fund (XLI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DVIN achieves a 18.87% return, which is significantly higher than XLI's 16.79% return.

DVIN

• 1D: 1.22%
• 1M: 4.93%
• YTD: 18.87%
• 6M: 15.49%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

XLI

• 1D: 1.16%
• 1M: 5.17%
• YTD: 16.79%
• 6M: 15.02%
• 1Y: 25.83%
• 3Y*: 22.14%
• 5Y*: 13.68%
• 10Y*: 14.68%

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

DVIN vs. XLI - Yearly Performance Comparison

	2026 (YTD)	2025
DVIN WEBs Industrials XLI Defined Volatility ETF	18.87%	-1.06%
XLI Industrial Select Sector SPDR Fund	16.79%	3.49%

Correlation

The correlation between DVIN and XLI is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 23, 2025	0.98

Return for Risk

DVIN vs. XLI — Risk / Return Rank

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

DVIN

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

XLI

XLI Risk / Return Rank: 50
XLI Sharpe Ratio Rank: 51
XLI Sortino Ratio Rank: 52
XLI Omega Ratio Rank: 47
XLI Calmar Ratio Rank: 47
XLI Martin Ratio Rank: 53

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.

DVIN vs. XLI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WEBs Industrials XLI Defined Volatility ETF (DVIN) and Industrial Select Sector SPDR Fund (XLI). 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.

	DVIN	XLI	Difference
Sharpe ratio: Return per unit of total volatility	—	1.59	—
Sortino ratio: Return per unit of downside risk	—	2.28	—
Omega ratio: Gain probability vs. loss probability	—	1.27	—
Calmar ratio: Return relative to maximum drawdown	—	2.12	—
Martin ratio: Return relative to average drawdown	—	8.37	—

Drawdowns

DVIN vs. XLI - Drawdown Comparison

The maximum DVIN drawdown since its inception was -18.47%, smaller than the maximum XLI drawdown of -62.26%. Use the drawdown chart below to compare losses from any high point for DVIN and XLI.

Drawdown Indicators

	DVIN	XLI	Difference
Max Drawdown Largest peak-to-trough decline	-18.47%	-62.26%	+43.79%
Max Drawdown (1Y) Largest decline over 1 year	—	-12.21%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-18.49%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-21.64%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-42.33%	—
Current Drawdown Current decline from peak	-4.74%	-0.87%	-3.87%
Average Drawdown Average peak-to-trough decline	-5.06%	-9.19%	+4.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.09%	—

Volatility

Volatility by Period

	DVIN	XLI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.30%	—
Volatility (6M) Calculated over the trailing 6-month period	—	13.69%	—
Volatility (1Y) Calculated over the trailing 1-year period	26.42%	16.31%	+10.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.42%	17.55%	+8.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.42%	20.02%	+6.40%

DVIN vs. XLI - Expense Ratio Comparison

DVIN has a 0.89% expense ratio, which is higher than XLI's 0.08% expense ratio.

Dividends

DVIN vs. XLI - Dividend Comparison

DVIN has not paid dividends to shareholders, while XLI's dividend yield for the trailing twelve months is around 1.14%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DVIN WEBs Industrials XLI Defined Volatility ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XLI Industrial Select Sector SPDR Fund	1.14%	1.29%	1.44%	1.63%	1.63%	1.25%	1.55%	1.94%	2.15%	1.77%	2.07%	2.15%

Frequently Asked Questions

Can I hold both DVIN and XLI in my portfolio?

With a correlation of 0.98, DVIN and XLI move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, DVIN or XLI?

On fees, XLI is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DVIN or XLI?

XLI is cheaper with a 0.08% expense ratio, compared with 0.89% for DVIN.

Which ETF pays a higher dividend yield, DVIN or XLI?

XLI has the higher dividend yield at 1.14%, compared with 0.00% for DVIN.

What is the main difference between DVIN and XLI?

DVIN tracks Syntax Defined Volatility XLI Index, while XLI tracks Industrial Select Sector Index. They also come from different issuers: WEBs and State Street. Their fees differ too: 0.89% for DVIN and 0.08% for XLI.