DVXC vs. XLC

Last updated Jun 23, 2026

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. With a 1.00 correlation, they move nearly in lockstep. DVXC charges 0.89%/yr vs 0.13%/yr for XLC.

Performance

DVXC vs. XLC - Performance Comparison

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

Returns By Period

In the year-to-date period, DVXC achieves a -21.18% return, which is significantly lower than XLC's -8.70% return.

DVXC

• 1D: -4.33%
• 1M: -14.49%
• YTD: -21.18%
• 6M: -19.88%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

XLC

• 1D: -2.11%
• 1M: -7.21%
• YTD: -8.70%
• 6M: -7.87%
• 1Y: 5.47%
• 3Y*: 19.94%
• 5Y*: 7.11%
• 10Y*: —

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

DVXC vs. XLC - Yearly Performance Comparison

	2026 (YTD)	2025
DVXC WEBs Communication Services XLC Defined Volatility ETF	-21.18%	16.00%
XLC Communication Services Select Sector SPDR Fund	-8.70%	9.88%

Correlation

The correlation between DVXC and XLC is 1.00 - 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	1.00

Return for Risk

DVXC vs. XLC — Risk / Return Rank

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

DVXC

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

XLC

XLC Risk / Return Rank: 14
XLC Sharpe Ratio Rank: 14
XLC Sortino Ratio Rank: 13
XLC Omega Ratio Rank: 13
XLC Calmar Ratio Rank: 14
XLC Martin Ratio Rank: 16

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.

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 ratio: Return per unit of total volatility	—	0.41	—
Sortino ratio: Return per unit of downside risk	—	0.66	—
Omega ratio: Gain probability vs. loss probability	—	1.08	—
Calmar ratio: Return relative to maximum drawdown	—	0.52	—
Martin ratio: Return relative to average drawdown	—	1.56	—

Drawdowns

DVXC vs. XLC - Drawdown Comparison

The maximum DVXC drawdown since its inception was -24.16%, 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.

Drawdown Indicators

	DVXC	XLC	Difference
Max Drawdown Largest peak-to-trough decline	-24.16%	-46.65%	+22.49%
Max Drawdown (1Y) Largest decline over 1 year	—	-10.57%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-17.97%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-46.65%	—
Current Drawdown Current decline from peak	-24.16%	-10.49%	-13.67%
Average Drawdown Average peak-to-trough decline	-7.47%	-10.57%	+3.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.52%	—

Volatility

Volatility by Period

	DVXC	XLC	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.63%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.25%	—
Volatility (1Y) Calculated over the trailing 1-year period	26.75%	13.57%	+13.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.75%	20.74%	+6.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.75%	22.18%	+4.57%

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 1.57%.

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	1.57%	1.13%	0.99%	0.82%	1.10%	0.74%	0.68%	0.82%	0.64%

Frequently Asked Questions

Can I hold both DVXC and XLC in my portfolio?

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.

Which ETF is better, DVXC or XLC?

On fees, XLC is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DVXC or XLC?

XLC is cheaper with a 0.13% expense ratio, compared with 0.89% for DVXC.

Which ETF pays a higher dividend yield, DVXC or XLC?

XLC has the higher dividend yield at 1.57%, compared with 0.00% for DVXC.

What is the main difference between DVXC and XLC?

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.