DVXC vs. XLC
DVXC (WEBs Communication Services XLC Defined Volatility ETF) and XLC (Communication Services Select Sector SPDR Fund) are both Communications Equities funds - DVXC tracks the Syntax Defined Volatility XLC Index while XLC tracks the S&P Communication Services Select Sector Index. Both are passively managed. Over the past year, DVXC returned -5.14% vs 3.28% for XLC. Their 1.00 correlation means they have historically moved very closely together. DVXC charges 0.89%/yr vs 0.13%/yr for XLC.
Performance
DVXC vs. XLC - Performance Comparison
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Returns By Period
In the year-to-date period, DVXC achieves a -20.96% return, which is significantly lower than XLC's -7.52% return.
DVXC
- 1D
- 1.99%
- 1M
- -3.90%
- 6M
- -23.46%
- YTD
- -20.96%
- 1Y
- -5.14%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -8.15%
XLC
- 1D
- 1.56%
- 1M
- -1.24%
- 6M
- -9.34%
- YTD
- -7.52%
- 1Y
- 3.28%
- 3Y*
- 17.68%
- 5Y*
- 6.70%
- 10Y*
- —
- ALL TIME*
- 11.13%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $148.16 | $1.77K | $1.90K | |
| $698.01M | $724.28M | $715.77M |
DVXC vs. XLC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
DVXC WEBs Communication Services XLC Defined Volatility ETF | -20.96% | 16.00% |
XLC Communication Services Select Sector SPDR Fund | -7.52% | 9.88% |
Correlation
The correlation between DVXC and XLC is 1.00 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 1.00 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 2025 | 1.00 |
The correlation between DVXC and XLC has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.
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Return for Risk
DVXC vs. XLC — Risk / Return Rank
DVXC
XLC
DVXC vs. XLC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WEBs Communication Services XLC Defined Volatility ETF (DVXC) and Communication Services Select Sector SPDR Fund (XLC). 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.
| DVXC | XLC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -0.49 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.04 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | -0.28 | 0.17 | -0.45 |
| Martin ratioReturn relative to average drawdown | -0.65 | 0.45 | -1.10 |
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Drawdowns
DVXC vs. XLC - Drawdown Comparison
The maximum DVXC drawdown since its inception was -26.47%, smaller than the maximum XLC drawdown of -46.65%. Use the drawdown chart below to compare losses from any high point for DVXC and XLC.
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Drawdown Indicators
| DVXC | XLC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.47% | -46.65% | +20.18% |
Max Drawdown (1Y)Largest decline over 1 year | -26.47% | -11.73% | -14.74% |
Max Drawdown (3Y)Largest decline over 3 years | — | -17.97% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -46.65% | — |
Current DrawdownCurrent decline from peak | -23.95% | -9.34% | -14.61% |
Average DrawdownAverage peak-to-trough decline | -9.04% | -10.54% | +1.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.32% | 4.55% | +6.77% |
Volatility
DVXC vs. XLC - Volatility Comparison
WEBs Communication Services XLC Defined Volatility ETF (DVXC) has a higher volatility of 10.08% compared to Communication Services Select Sector SPDR Fund (XLC) at 6.53%. This indicates that DVXC's price experiences larger fluctuations and is considered to be riskier than XLC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DVXC | XLC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.08% | 6.53% | +3.55% |
Volatility (6M)Calculated over the trailing 6-month period | 21.25% | 11.77% | +9.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.73% | 14.79% | +12.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.59% | 20.87% | +6.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.59% | 22.17% | +5.42% |
DVXC vs. XLC - Expense Ratio Comparison
DVXC has a 0.89% expense ratio, which is higher than XLC's 0.13% expense ratio.
Dividends
DVXC vs. XLC - Dividend Comparison
DVXC has not paid dividends to shareholders, while XLC's dividend yield for the trailing twelve months is around 1.32%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DVXC WEBs Communication Services XLC Defined Volatility ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XLC Communication Services Select Sector SPDR Fund | 1.32% | 1.13% | 0.99% | 0.82% | 1.10% | 0.74% | 0.68% | 0.82% | 0.64% |
Frequently Asked Questions
With a correlation of 1.00, DVXC and XLC 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.
DVXC has higher volatility (10.08%) compared to XLC (6.53%). In terms of maximum drawdown, DVXC dropped -26.47% vs XLC's -46.65%.
On 1-year performance, XLC leads with 3.28% vs -5.14% for DVXC. On fees, XLC is cheaper at 0.13% per year. On volatility, XLC has been the lower-risk option at 6.53%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, XLC has performed better with a 3.28% return vs -5.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XLC is cheaper with a 0.13% expense ratio, compared with 0.89% for DVXC.
XLC has the higher dividend yield at 1.32%, compared with 0.00% for DVXC.
DVXC tracks Syntax Defined Volatility XLC Index, while XLC tracks S&P Communication Services Select Sector Index. They also come from different issuers: WEBs and State Street. Their fees differ too: 0.89% for DVXC and 0.13% for XLC.
XLC currently has the higher Sharpe Ratio (0.14 vs -0.27), 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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