HWAY vs. XLII

Last updated Jun 24, 2026

HWAY (Themes US Infrastructure ETF) and XLII (State Street Industrial Select Sector SPDR Premium Income ETF) are both exchange-traded funds - HWAY is a Industrials Equities fund tracking the Solactive United States Infrastructure Index, while XLII is a Derivative Income fund actively managed by State Street. HWAY is passively managed, while XLII is actively managed. Their correlation of 0.88 suggests significant overlap in exposure. HWAY charges 0.29%/yr vs 0.35%/yr for XLII.

Performance

HWAY vs. XLII - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes US Infrastructure ETF (HWAY) and State Street Industrial Select Sector SPDR Premium Income ETF (XLII). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HWAY achieves a 24.28% return, which is significantly higher than XLII's 9.77% return.

HWAY

• 1D: -2.18%
• 1M: 5.82%
• YTD: 24.28%
• 6M: 21.92%
• 1Y: 42.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XLII

• 1D: -1.37%
• 1M: 4.07%
• YTD: 9.77%
• 6M: 9.38%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HWAY vs. XLII - Yearly Performance Comparison

	2026 (YTD)	2025
HWAY Themes US Infrastructure ETF	24.28%	5.08%
XLII State Street Industrial Select Sector SPDR Premium Income ETF	9.77%	6.30%

Correlation

The correlation between HWAY and XLII 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 (All Time) Calculated using the full available price history since Jul 30, 2025	0.88

HWAY vs. XLII - Sectors Allocation Comparison

Sectors	HWAY	XLII
Industrials	79.8%	93.8%
Basic Materials	18.1%	-
Consumer Cyclical	1.2%	0.3%
Technology	0.3%	5.9%
Energy	0.2%	-
Utilities	0.1%	-
Consumer Defensive	0.0%	-
Communication Services	-	-
Financial Services	-	100.8%
Healthcare	-	-
Real Estate	-	-

Return for Risk

HWAY vs. XLII — Risk / Return Rank

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

HWAY

HWAY Risk / Return Rank: 71
HWAY Sharpe Ratio Rank: 72
HWAY Sortino Ratio Rank: 71
HWAY Omega Ratio Rank: 64
HWAY Calmar Ratio Rank: 73
HWAY Martin Ratio Rank: 73

XLII

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.

HWAY vs. XLII - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes US Infrastructure ETF (HWAY) and State Street Industrial Select Sector SPDR Premium Income ETF (XLII). 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.

	HWAY	XLII	Difference
Sharpe ratio: Return per unit of total volatility	2.11	—	—
Sortino ratio: Return per unit of downside risk	2.92	—	—
Omega ratio: Gain probability vs. loss probability	1.35	—	—
Calmar ratio: Return relative to maximum drawdown	3.39	—	—
Martin ratio: Return relative to average drawdown	12.47	—	—

Drawdowns

HWAY vs. XLII - Drawdown Comparison

The maximum HWAY drawdown since its inception was -25.96%, which is greater than XLII's maximum drawdown of -10.10%. Use the drawdown chart below to compare losses from any high point for HWAY and XLII.

Drawdown Indicators

	HWAY	XLII	Difference
Max Drawdown Largest peak-to-trough decline	-25.96%	-10.10%	-15.86%
Max Drawdown (1Y) Largest decline over 1 year	-12.63%	—	—
Current Drawdown Current decline from peak	-2.18%	-1.37%	-0.81%
Average Drawdown Average peak-to-trough decline	-5.25%	-1.30%	-3.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.43%	—	—

Volatility

Volatility by Period

	HWAY	XLII	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.59%	—	—
Volatility (6M) Calculated over the trailing 6-month period	16.68%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	20.30%	12.19%	+8.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.46%	12.19%	+10.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.46%	12.19%	+10.27%

HWAY vs. XLII - Expense Ratio Comparison

HWAY has a 0.29% expense ratio, which is lower than XLII's 0.35% expense ratio.

Dividends

HWAY vs. XLII - Dividend Comparison

HWAY's dividend yield for the trailing twelve months is around 1.04%, less than XLII's 10.97% yield.

Position	TTM	2025	2024
HWAY Themes US Infrastructure ETF	1.04%	1.29%	0.22%
XLII State Street Industrial Select Sector SPDR Premium Income ETF	10.97%	5.47%	0.00%

Frequently Asked Questions

Can I hold both HWAY and XLII in my portfolio?

HWAY and XLII 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 ETF is better, HWAY or XLII?

On fees, HWAY is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HWAY or XLII?

HWAY is cheaper with a 0.29% expense ratio, compared with 0.35% for XLII.

Which ETF pays a higher dividend yield, HWAY or XLII?

XLII has the higher dividend yield at 10.97%, compared with 1.04% for HWAY.

What is the main difference between HWAY and XLII?

HWAY is categorized as Industrials Equities, while XLII is Derivative Income. They also come from different issuers: Themes and State Street. Their fees differ too: 0.29% for HWAY and 0.35% for XLII.