FCFAX vs. XLU
FCFAX (Frost Credit Fund) and XLU (State Street Utilities Select Sector SPDR ETF) are both funds - FCFAX is a Short-Term Bond fund managed by Frost Funds, while XLU is a Utilities Equities fund tracking the Utilities Select Sector Index. Over the past 10 years, FCFAX returned 5.17%/yr vs 9.20%/yr for XLU. At a 0.21 correlation, their price movements are largely independent. FCFAX charges 0.96%/yr vs 0.08%/yr for XLU.
Performance
FCFAX vs. XLU - Performance Comparison
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Returns By Period
In the year-to-date period, FCFAX achieves a 1.58% return, which is significantly lower than XLU's 5.04% return. Over the past 10 years, FCFAX has underperformed XLU with an annualized return of 5.17%, while XLU has yielded a comparatively higher 9.20% annualized return.
FCFAX
- 1D
- 0.33%
- 1M
- 0.72%
- YTD
- 1.58%
- 6M
- 1.88%
- 1Y
- 4.56%
- 3Y*
- 7.23%
- 5Y*
- 3.79%
- 10Y*
- 5.17%
XLU
- 1D
- 1.09%
- 1M
- -0.31%
- YTD
- 5.04%
- 6M
- 5.48%
- 1Y
- 11.85%
- 3Y*
- 13.79%
- 5Y*
- 9.41%
- 10Y*
- 9.20%
FCFAX vs. XLU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FCFAX Frost Credit Fund | 1.58% | 5.21% | 8.01% | 11.23% | -7.83% | 5.07% | 6.22% | 6.95% | 0.89% | 7.95% |
XLU State Street Utilities Select Sector SPDR ETF | 5.04% | 16.03% | 23.31% | -7.18% | 1.44% | 17.70% | 0.51% | 25.93% | 3.94% | 12.05% |
Correlation
The correlation between FCFAX and XLU is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2013 | 0.21 |
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Return for Risk
FCFAX vs. XLU — Risk / Return Rank
FCFAX
XLU
FCFAX vs. XLU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Frost Credit Fund (FCFAX) and State Street Utilities Select Sector SPDR ETF (XLU). 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.
| FCFAX | XLU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.32 | ||
| Sortino ratioReturn per unit of downside risk | +2.08 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.15 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 2.65 | 1.30 | +1.35 |
| Martin ratioReturn relative to average drawdown | 9.89 | 2.80 | +7.09 |
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Drawdowns
FCFAX vs. XLU - Drawdown Comparison
The maximum FCFAX drawdown since its inception was -16.33%, smaller than the maximum XLU drawdown of -51.98%. Use the drawdown chart below to compare losses from any high point for FCFAX and XLU.
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Drawdown Indicators
| FCFAX | XLU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.33% | -51.98% | +35.65% |
Max Drawdown (1Y)Largest decline over 1 year | -1.82% | -9.18% | +7.36% |
Max Drawdown (3Y)Largest decline over 3 years | -2.82% | -17.26% | +14.44% |
Max Drawdown (5Y)Largest decline over 5 years | -10.49% | -25.26% | +14.77% |
Max Drawdown (10Y)Largest decline over 10 years | -16.33% | -36.07% | +19.74% |
Current DrawdownCurrent decline from peak | 0.00% | -6.05% | +6.05% |
Average DrawdownAverage peak-to-trough decline | -1.53% | -10.22% | +8.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.49% | 4.25% | -3.76% |
Volatility
FCFAX vs. XLU - Volatility Comparison
The current volatility for Frost Credit Fund (FCFAX) is 0.77%, while State Street Utilities Select Sector SPDR ETF (XLU) has a volatility of 5.59%. This indicates that FCFAX experiences smaller price fluctuations and is considered to be less risky than XLU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FCFAX | XLU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.77% | 5.59% | -4.82% |
Volatility (6M)Calculated over the trailing 6-month period | 1.76% | 11.68% | -9.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.27% | 14.66% | -12.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.77% | 17.34% | -14.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.24% | 19.27% | -16.03% |
FCFAX vs. XLU - Expense Ratio Comparison
FCFAX has a 0.96% expense ratio, which is higher than XLU's 0.08% expense ratio.
Dividends
FCFAX vs. XLU - Dividend Comparison
FCFAX's dividend yield for the trailing twelve months is around 6.15%, more than XLU's 2.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCFAX Frost Credit Fund | 6.15% | 6.10% | 5.76% | 5.93% | 5.00% | 3.65% | 3.69% | 4.62% | 5.05% | 5.85% | 4.84% | 4.95% |
XLU State Street Utilities Select Sector SPDR ETF | 2.67% | 2.71% | 2.96% | 3.39% | 2.92% | 2.79% | 3.14% | 2.95% | 3.33% | 3.33% | 3.41% | 3.67% |
Frequently Asked Questions
FCFAX and XLU 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.
XLU has higher volatility (5.59%) compared to FCFAX (0.77%). In terms of maximum drawdown, FCFAX dropped -16.33% vs XLU's -51.98%.
FCFAX currently has the higher Sharpe Ratio (2.13 vs 0.81), 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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