GRNY vs. XLI

Last updated Jul 21, 2026

GRNY (Fundstrat Granny Shots U.S. Large Cap ETF) and XLI (Industrial Select Sector SPDR Fund) are both exchange-traded funds - GRNY is a Large Cap Blend Equities fund actively managed by Tidal ETFs, while XLI is a Industrials Equities fund tracking the Industrial Select Sector Index. GRNY is actively managed, while XLI is passively managed. Over the past year, GRNY returned 17.27% vs 19.12% for XLI. A 0.73 correlation means they provide meaningful diversification when combined. GRNY charges 0.75%/yr vs 0.08%/yr for XLI.

Performance

GRNY vs. XLI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fundstrat Granny Shots U.S. Large Cap ETF (GRNY) 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, GRNY achieves a 9.98% return, which is significantly lower than XLI's 15.43% return.

GRNY

• 1D: -0.37%
• 1M: -0.94%
• 6M: 5.26%
• YTD: 9.98%
• 1Y: 17.27%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 19.76%

XLI

• 1D: -0.72%
• 1M: -1.30%
• 6M: 7.29%
• YTD: 15.43%
• 1Y: 19.12%
• 3Y*: 19.29%
• 5Y*: 13.15%
• 10Y*: 13.76%
• ALL TIME*: 9.61%

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

GRNY vs. XLI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
GRNY Fundstrat Granny Shots U.S. Large Cap ETF	9.98%	24.05%	-0.45%
XLI Industrial Select Sector SPDR Fund	15.43%	19.35%	-6.37%

Correlation

The correlation between GRNY and XLI is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.70
Correlation (All Time) Calculated using the full available price history since Nov 7, 2024	0.73

The correlation between GRNY and XLI has been stable across timeframes, ranging from 0.70 to 0.73 - a consistent structural relationship.

Return for Risk

GRNY vs. XLI — Risk / Return Rank

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

GRNY

GRNY Risk / Return Rank: 35
GRNY Sharpe Ratio Rank: 35
GRNY Sortino Ratio Rank: 33
GRNY Omega Ratio Rank: 32
GRNY Calmar Ratio Rank: 38
GRNY Martin Ratio Rank: 38

XLI

XLI Risk / Return Rank: 43
XLI Sharpe Ratio Rank: 43
XLI Sortino Ratio Rank: 43
XLI Omega Ratio Rank: 39
XLI Calmar Ratio Rank: 40
XLI Martin Ratio Rank: 49

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.

GRNY vs. XLI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fundstrat Granny Shots U.S. Large Cap ETF (GRNY) 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.

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.

	GRNY	XLI	Difference
Sharpe ratio: Return per unit of total volatility	0.96	1.15	-0.19
Sortino ratio: Return per unit of downside risk	1.39	1.71	-0.33
Omega ratio: Gain probability vs. loss probability	1.17	1.20	-0.03
Calmar ratio: Return relative to maximum drawdown	1.49	1.57	-0.08
Martin ratio: Return relative to average drawdown	4.48	6.09	-1.60

GRNY vs. XLI - Sharpe Ratio Comparison

The current GRNY Sharpe Ratio is 0.96, which is comparable to the XLI Sharpe Ratio of 1.15. The chart below compares the historical Sharpe Ratios of GRNY 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.

Drawdowns

GRNY vs. XLI - Drawdown Comparison

The maximum GRNY drawdown since its inception was -24.18%, smaller than the maximum XLI drawdown of -62.26%. Use the drawdown chart below to compare losses from any high point for GRNY and XLI.

Drawdown Indicators

	GRNY	XLI	Difference
Max Drawdown Largest peak-to-trough decline	-24.18%	-62.26%	+38.08%
Max Drawdown (1Y) Largest decline over 1 year	-11.63%	-12.21%	+0.58%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.49%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-21.64%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-42.33%	—
Current Drawdown Current decline from peak	-2.68%	-4.01%	+1.33%
Average Drawdown Average peak-to-trough decline	-3.84%	-9.17%	+5.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.86%	3.15%	+0.71%

Volatility

GRNY vs. XLI - Volatility Comparison

The current volatility for Fundstrat Granny Shots U.S. Large Cap ETF (GRNY) is 4.09%, while Industrial Select Sector SPDR Fund (XLI) has a volatility of 5.03%. This indicates that GRNY experiences smaller price fluctuations and is considered to be less risky than XLI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GRNY	XLI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.09%	5.03%	-0.94%
Volatility (6M) Calculated over the trailing 6-month period	13.02%	13.80%	-0.78%
Volatility (1Y) Calculated over the trailing 1-year period	18.06%	16.68%	+1.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.80%	17.53%	+5.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.80%	20.01%	+2.79%

GRNY vs. XLI - Expense Ratio Comparison

GRNY has a 0.75% expense ratio, which is higher than XLI's 0.08% expense ratio.

Dividends

GRNY vs. XLI - Dividend Comparison

GRNY's dividend yield for the trailing twelve months is around 0.07%, less than XLI's 1.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GRNY Fundstrat Granny Shots U.S. Large Cap ETF	0.07%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XLI Industrial Select Sector SPDR Fund	1.16%	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 GRNY and XLI in my portfolio?

GRNY and XLI have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GRNY or XLI?

XLI has higher volatility (5.03%) compared to GRNY (4.09%). In terms of maximum drawdown, GRNY dropped -24.18% vs XLI's -62.26%.

Which ETF is better, GRNY or XLI?

On 1-year performance, XLI leads with 19.12% vs 17.27% for GRNY. On fees, XLI is cheaper at 0.08% per year. On volatility, GRNY has been the lower-risk option at 4.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GRNY or XLI?

Over the 1-year period, XLI has performed better with a 19.12% return vs 17.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GRNY or XLI?

XLI is cheaper with a 0.08% expense ratio, compared with 0.75% for GRNY.

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

XLI has the higher dividend yield at 1.16%, compared with 0.07% for GRNY.

What is the main difference between GRNY and XLI?

GRNY is categorized as Large Cap Blend Equities, while XLI is Industrials Equities. They also come from different issuers: Tidal ETFs and State Street. Their fees differ too: 0.75% for GRNY and 0.08% for XLI.

Which has better risk-adjusted returns?

XLI currently has the higher Sharpe Ratio (1.15 vs 0.96), 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.