FXR vs. XLI

Last updated Jun 3, 2026

FXR (First Trust Industrials/Producer Durables AlphaDEX Fund) and XLI (Industrial Select Sector SPDR Fund) are both Industrials Equities funds - FXR tracks the StrataQuant Industrials Index while XLI tracks the Industrial Select Sector Index. Both are passively managed. Over the past 10 years, FXR returned 12.76%/yr vs 14.00%/yr for XLI. Their correlation of 0.86 suggests significant overlap in exposure. FXR charges 0.64%/yr vs 0.13%/yr for XLI.

Performance

FXR vs. XLI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Industrials/Producer Durables AlphaDEX Fund (FXR) 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, FXR achieves a 9.00% return, which is significantly lower than XLI's 12.61% return. Over the past 10 years, FXR has underperformed XLI with an annualized return of 12.76%, while XLI has yielded a comparatively higher 14.00% annualized return.

FXR

• 1D: 0.39%
• 1M: -0.21%
• YTD: 9.00%
• 6M: 12.12%
• 1Y: 23.27%
• 3Y*: 16.71%
• 5Y*: 8.61%
• 10Y*: 12.76%

XLI

• 1D: 1.04%
• 1M: 0.71%
• YTD: 12.61%
• 6M: 14.74%
• 1Y: 23.76%
• 3Y*: 21.75%
• 5Y*: 12.35%
• 10Y*: 14.00%

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

FXR vs. XLI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FXR First Trust Industrials/Producer Durables AlphaDEX Fund	9.00%	7.56%	16.19%	26.98%	-16.68%	25.07%	12.82%	33.42%	-15.12%	24.20%
XLI Industrial Select Sector SPDR Fund	12.61%	19.35%	17.31%	18.13%	-5.57%	21.08%	10.91%	29.08%	-13.25%	23.98%

Correlation

The correlation between FXR and XLI is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since May 11, 2007	0.86

The correlation between FXR and XLI has been stable across timeframes, ranging from 0.86 to 0.93 - a consistent structural relationship.

FXR vs. XLI - Sectors Allocation Comparison

Sectors	FXR	XLI
Industrials	70.5%	90.3%
Technology	10.3%	3.8%
Consumer Cyclical	7.5%	0.5%
Basic Materials	6.2%	-
Financial Services	3.4%	-
Healthcare	0.7%	-
Utilities	0.7%	5.2%
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Real Estate	-	-

Return for Risk

FXR vs. XLI — Risk / Return Rank

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

FXR

FXR Risk / Return Rank: 34
FXR Sharpe Ratio Rank: 34
FXR Sortino Ratio Rank: 36
FXR Omega Ratio Rank: 32
FXR Calmar Ratio Rank: 33
FXR Martin Ratio Rank: 34

XLI

XLI Risk / Return Rank: 43
XLI Sharpe Ratio Rank: 44
XLI Sortino Ratio Rank: 45
XLI Omega Ratio Rank: 41
XLI Calmar Ratio Rank: 39
XLI Martin Ratio Rank: 46

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.

FXR vs. XLI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Industrials/Producer Durables AlphaDEX Fund (FXR) 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.

	FXR	XLI	Difference
Sharpe ratio Return per unit of total volatility	1.23	1.55	-0.32
Sortino ratio Return per unit of downside risk	1.90	2.27	-0.37
Omega ratio Gain probability vs. loss probability	1.22	1.27	-0.05
Calmar ratio Return relative to maximum drawdown	1.65	1.93	-0.29
Martin ratio Return relative to average drawdown	5.28	7.70	-2.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FXR vs. XLI - Sharpe Ratio Comparison

The current FXR Sharpe Ratio is 1.23, which is comparable to the XLI Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of FXR and XLI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FXR	XLI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.23	1.55	-0.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.42	0.71	-0.29
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	0.70	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.45	-0.08

Drawdowns

FXR vs. XLI - Drawdown Comparison

The maximum FXR drawdown since its inception was -63.81%, roughly equal to the maximum XLI drawdown of -62.26%. Use the drawdown chart below to compare losses from any high point for FXR and XLI.

Drawdown Indicators

	FXR	XLI	Difference
Max Drawdown Largest peak-to-trough decline	-63.81%	-62.26%	-1.55%
Max Drawdown (1Y) Largest decline over 1 year	-13.66%	-12.21%	-1.45%
Max Drawdown (3Y) Largest decline over 3 years	-26.65%	-18.49%	-8.16%
Max Drawdown (5Y) Largest decline over 5 years	-26.85%	-21.64%	-5.21%
Max Drawdown (10Y) Largest decline over 10 years	-44.71%	-42.33%	-2.38%
Current Drawdown Current decline from peak	-4.86%	-2.36%	-2.50%
Average Drawdown Average peak-to-trough decline	-10.36%	-9.21%	-1.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.26%	3.07%	+1.19%

Volatility

FXR vs. XLI - Volatility Comparison

First Trust Industrials/Producer Durables AlphaDEX Fund (FXR) has a higher volatility of 5.83% compared to Industrial Select Sector SPDR Fund (XLI) at 4.96%. This indicates that FXR's price experiences larger fluctuations and is considered to be riskier than XLI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FXR	XLI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.83%	4.96%	+0.87%
Volatility (6M) Calculated over the trailing 6-month period	14.61%	12.88%	+1.73%
Volatility (1Y) Calculated over the trailing 1-year period	18.98%	15.38%	+3.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.57%	17.42%	+3.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.92%	19.99%	+1.93%

FXR vs. XLI - Expense Ratio Comparison

FXR has a 0.64% expense ratio, which is higher than XLI's 0.13% expense ratio.

Dividends

FXR vs. XLI - Dividend Comparison

FXR's dividend yield for the trailing twelve months is around 0.62%, less than XLI's 1.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FXR First Trust Industrials/Producer Durables AlphaDEX Fund	0.62%	0.71%	0.72%	0.77%	0.92%	0.52%	1.06%	0.74%	1.18%	0.55%	0.52%	0.62%
XLI Industrial Select Sector SPDR Fund	1.17%	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 FXR and XLI in my portfolio?

FXR and XLI have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FXR or XLI?

FXR has higher volatility (5.83%) compared to XLI (4.96%). In terms of maximum drawdown, FXR dropped -63.81% vs XLI's -62.26%.

Which ETF is better, FXR or XLI?

On 10-year performance, XLI leads with 14.00% vs 12.76% for FXR. On fees, XLI is cheaper at 0.13% per year. On volatility, XLI has been the lower-risk option at 4.96%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FXR or XLI?

Over the 10-year period, XLI has performed better with a 14.00% return vs 12.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FXR or XLI?

XLI is cheaper with a 0.13% expense ratio, compared with 0.64% for FXR.

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

XLI has the higher dividend yield at 1.17%, compared with 0.62% for FXR.

What is the main difference between FXR and XLI?

FXR tracks StrataQuant Industrials Index, while XLI tracks Industrial Select Sector Index. They also come from different issuers: First Trust and State Street. Their fees differ too: 0.64% for FXR and 0.13% for XLI.

Which has better risk-adjusted returns?

XLI currently has the higher Sharpe Ratio (1.55 vs 1.23), 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.