FXZ vs. XLBI

Last updated Jul 14, 2026

FXZ (First Trust Materials AlphaDEX Fund) and XLBI (State Street Materials Select Sector SPDR Premium Income ETF) are both exchange-traded funds - FXZ is a Materials fund tracking the StrataQuant Materials Index, while XLBI is a Derivative Income fund actively managed by State Street. FXZ is passively managed, while XLBI is actively managed. Their correlation of 0.87 suggests significant overlap in exposure. FXZ charges 0.67%/yr vs 0.35%/yr for XLBI.

Performance

FXZ vs. XLBI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Materials AlphaDEX Fund (FXZ) and State Street Materials Select Sector SPDR Premium Income ETF (XLBI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FXZ achieves a 18.89% return, which is significantly higher than XLBI's 6.83% return.

FXZ

• 1D: -1.02%
• 1M: -9.23%
• 6M: 8.62%
• YTD: 18.89%
• 1Y: 29.19%
• 3Y*: 7.25%
• 5Y*: 8.01%
• 10Y*: 10.04%

XLBI

• 1D: -0.90%
• 1M: -1.70%
• 6M: 4.52%
• YTD: 6.83%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FXZ vs. XLBI - Yearly Performance Comparison

	2026 (YTD)	2025
FXZ First Trust Materials AlphaDEX Fund	18.89%	9.13%
XLBI State Street Materials Select Sector SPDR Premium Income ETF	6.83%	2.25%

Correlation

The correlation between FXZ and XLBI is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 30, 2025	0.87

FXZ vs. XLBI - Sectors Allocation Comparison

Sectors	FXZ	XLBI
Basic Materials	76.9%	-
Industrials	15.4%	-
Consumer Cyclical	5.1%	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	98.9%
Healthcare	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

FXZ vs. XLBI — Risk / Return Rank

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

FXZ

FXZ Risk / Return Rank: 50
FXZ Sharpe Ratio Rank: 46
FXZ Sortino Ratio Rank: 45
FXZ Omega Ratio Rank: 43
FXZ Calmar Ratio Rank: 58
FXZ Martin Ratio Rank: 56

XLBI

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

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.

FXZ vs. XLBI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Materials AlphaDEX Fund (FXZ) and State Street Materials Select Sector SPDR Premium Income ETF (XLBI). 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.

	FXZ	XLBI	Difference
Sharpe ratio: Return per unit of total volatility	1.29	—	—
Sortino ratio: Return per unit of downside risk	1.86	—	—
Omega ratio: Gain probability vs. loss probability	1.22	—	—
Calmar ratio: Return relative to maximum drawdown	2.30	—	—
Martin ratio: Return relative to average drawdown	7.66	—	—

Drawdowns

FXZ vs. XLBI - Drawdown Comparison

The maximum FXZ drawdown since its inception was -65.46%, which is greater than XLBI's maximum drawdown of -10.62%. Use the drawdown chart below to compare losses from any high point for FXZ and XLBI.

Drawdown Indicators

	FXZ	XLBI	Difference
Max Drawdown Largest peak-to-trough decline	-65.46%	-10.62%	-54.84%
Max Drawdown (1Y) Largest decline over 1 year	-12.75%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-33.99%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-33.99%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-49.41%	—	—
Current Drawdown Current decline from peak	-9.45%	-2.76%	-6.69%
Average Drawdown Average peak-to-trough decline	-11.32%	-2.10%	-9.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.82%	—	—

Volatility

Volatility by Period

	FXZ	XLBI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.85%	—	—
Volatility (6M) Calculated over the trailing 6-month period	17.04%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	22.81%	13.94%	+8.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.16%	13.94%	+10.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.90%	13.94%	+10.96%

FXZ vs. XLBI - Expense Ratio Comparison

FXZ has a 0.67% expense ratio, which is higher than XLBI's 0.35% expense ratio.

Dividends

FXZ vs. XLBI - Dividend Comparison

FXZ's dividend yield for the trailing twelve months is around 1.42%, less than XLBI's 14.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FXZ First Trust Materials AlphaDEX Fund	1.42%	1.74%	1.81%	1.97%	1.56%	1.11%	1.51%	1.58%	1.38%	1.01%	1.19%	1.26%
XLBI State Street Materials Select Sector SPDR Premium Income ETF	14.97%	7.71%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FXZ and XLBI in my portfolio?

FXZ and XLBI have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FXZ or XLBI?

On fees, XLBI is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FXZ or XLBI?

XLBI is cheaper with a 0.35% expense ratio, compared with 0.67% for FXZ.

Which ETF pays a higher dividend yield, FXZ or XLBI?

XLBI has the higher dividend yield at 14.97%, compared with 1.42% for FXZ.

What is the main difference between FXZ and XLBI?

FXZ is categorized as Materials, while XLBI is Derivative Income. They also come from different issuers: First Trust and State Street. Their fees differ too: 0.67% for FXZ and 0.35% for XLBI.