ERH vs. XLF

Last updated Jun 24, 2026

ERH (Allspring Utilities and High Income Fund) and XLF (State Street Financial Select Sector SPDR ETF) are both funds - ERH is a Utilities Equities fund actively managed by Allspring Global Investments, while XLF is a Financials Equities fund tracking the Financial Select Sector Index. ERH is actively managed, while XLF is passively managed. Over the past 10 years, ERH returned 6.67%/yr vs 13.72%/yr for XLF. At a 0.32 correlation, their price movements are largely independent. ERH charges 0.93%/yr vs 0.08%/yr for XLF.

Performance

ERH vs. XLF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Allspring Utilities and High Income Fund (ERH) and State Street Financial Select Sector SPDR ETF (XLF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ERH achieves a 4.34% return, which is significantly higher than XLF's -0.77% return. Over the past 10 years, ERH has underperformed XLF with an annualized return of 6.67%, while XLF has yielded a comparatively higher 13.72% annualized return.

ERH

• 1D: 0.77%
• 1M: -0.75%
• YTD: 4.34%
• 6M: 5.07%
• 1Y: 13.07%
• 3Y*: 14.68%
• 5Y*: 4.26%
• 10Y*: 6.67%

XLF

• 1D: 0.34%
• 1M: 4.10%
• YTD: -0.77%
• 6M: -1.95%
• 1Y: 7.67%
• 3Y*: 19.94%
• 5Y*: 10.00%
• 10Y*: 13.72%

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

ERH vs. XLF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ERH Allspring Utilities and High Income Fund	4.34%	19.85%	25.71%	-10.52%	-18.38%	22.14%	-1.15%	33.97%	-8.98%	18.32%
XLF State Street Financial Select Sector SPDR ETF	-0.77%	14.90%	30.56%	12.03%	-10.59%	34.80%	-1.74%	31.88%	-13.06%	22.00%

Correlation

The correlation between ERH and XLF is 0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.28
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (10Y) Calculated over the trailing 10-year period	0.27
Correlation (All Time) Calculated using the full available price history since Apr 28, 2004	0.32

Over the past year, the correlation between ERH and XLF has dropped to 0.10 - well below their long-term average of 0.32, suggesting their price drivers have been diverging.

Return for Risk

ERH vs. XLF — Risk / Return Rank

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

ERH

ERH Risk / Return Rank: 15
ERH Sharpe Ratio Rank: 15
ERH Sortino Ratio Rank: 14
ERH Omega Ratio Rank: 16
ERH Calmar Ratio Rank: 18
ERH Martin Ratio Rank: 11

XLF

XLF Risk / Return Rank: 15
XLF Sharpe Ratio Rank: 17
XLF Sortino Ratio Rank: 16
XLF Omega Ratio Rank: 16
XLF Calmar Ratio Rank: 15
XLF Martin Ratio Rank: 15

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.

ERH vs. XLF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allspring Utilities and High Income Fund (ERH) 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.

	ERH	XLF	Difference
Sharpe ratio: Return per unit of total volatility	1.03	0.53	+0.50
Sortino ratio: Return per unit of downside risk	1.44	0.81	+0.63
Omega ratio: Gain probability vs. loss probability	1.19	1.10	+0.09
Calmar ratio: Return relative to maximum drawdown	1.40	0.52	+0.88
Martin ratio: Return relative to average drawdown	2.90	1.33	+1.57

ERH vs. XLF - Sharpe Ratio Comparison

The current ERH Sharpe Ratio is 1.03, which is higher than the XLF Sharpe Ratio of 0.53. The chart below compares the historical Sharpe Ratios of ERH and XLF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ERH vs. XLF - Drawdown Comparison

The maximum ERH drawdown since its inception was -69.81%, smaller than the maximum XLF drawdown of -82.69%. Use the drawdown chart below to compare losses from any high point for ERH and XLF.

Drawdown Indicators

	ERH	XLF	Difference
Max Drawdown Largest peak-to-trough decline	-69.81%	-82.69%	+12.88%
Max Drawdown (1Y) Largest decline over 1 year	-9.36%	-14.79%	+5.43%
Max Drawdown (3Y) Largest decline over 3 years	-21.24%	-15.54%	-5.70%
Max Drawdown (5Y) Largest decline over 5 years	-37.85%	-25.81%	-12.04%
Max Drawdown (10Y) Largest decline over 10 years	-46.11%	-42.86%	-3.25%
Current Drawdown Current decline from peak	-6.16%	-3.64%	-2.52%
Average Drawdown Average peak-to-trough decline	-17.27%	-19.99%	+2.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.52%	5.79%	-1.27%

Volatility

ERH vs. XLF - Volatility Comparison

The current volatility for Allspring Utilities and High Income Fund (ERH) is 3.87%, while State Street Financial Select Sector SPDR ETF (XLF) has a volatility of 4.12%. This indicates that ERH experiences smaller price fluctuations and is considered to be less risky than XLF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ERH	XLF	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.87%	4.12%	-0.25%
Volatility (6M) Calculated over the trailing 6-month period	10.22%	11.27%	-1.05%
Volatility (1Y) Calculated over the trailing 1-year period	12.79%	14.62%	-1.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.71%	18.58%	-1.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.72%	22.11%	-2.39%

ERH vs. XLF - Expense Ratio Comparison

ERH has a 0.93% expense ratio, which is higher than XLF's 0.08% expense ratio.

Dividends

ERH vs. XLF - Dividend Comparison

ERH's dividend yield for the trailing twelve months is around 8.52%, more than XLF's 1.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ERH Allspring Utilities and High Income Fund	8.52%	8.13%	7.15%	9.19%	8.09%	5.86%	7.20%	6.53%	8.06%	6.82%	7.53%	8.04%
XLF State Street Financial Select Sector SPDR ETF	1.50%	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

Can I hold both ERH and XLF in my portfolio?

ERH and XLF have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ERH or XLF?

XLF has higher volatility (4.12%) compared to ERH (3.87%). In terms of maximum drawdown, ERH dropped -69.81% vs XLF's -82.69%.

Which has better risk-adjusted returns?

ERH currently has the higher Sharpe Ratio (1.03 vs 0.53), 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.