IYT vs. XSD

Last updated Jun 3, 2026

IYT (iShares Transportation Average ETF) and XSD (SPDR S&P Semiconductor ETF) are both exchange-traded funds - IYT is a Transportation Equities fund tracking the Dow Jones Transportation Average Index, while XSD is a Semiconductors fund tracking the S&P Semiconductor Select Industry. Both are passively managed. Over the past 10 years, IYT returned 10.51%/yr vs 30.90%/yr for XSD. A 0.62 correlation means they provide meaningful diversification when combined. IYT charges 0.42%/yr vs 0.35%/yr for XSD.

Performance

IYT vs. XSD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Transportation Average ETF (IYT) and SPDR S&P Semiconductor ETF (XSD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IYT achieves a 13.12% return, which is significantly lower than XSD's 99.13% return. Over the past 10 years, IYT has underperformed XSD with an annualized return of 10.51%, while XSD has yielded a comparatively higher 30.90% annualized return.

IYT

• 1D: -1.00%
• 1M: 3.94%
• YTD: 13.12%
• 6M: 15.04%
• 1Y: 30.40%
• 3Y*: 14.77%
• 5Y*: 5.55%
• 10Y*: 10.51%

XSD

• 1D: 6.47%
• 1M: 28.41%
• YTD: 99.13%
• 6M: 96.98%
• 1Y: 186.04%
• 3Y*: 45.68%
• 5Y*: 29.93%
• 10Y*: 30.90%

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

IYT vs. XSD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IYT iShares Transportation Average ETF	13.12%	11.48%	4.10%	24.62%	-21.74%	26.41%	14.20%	20.11%	-12.87%	18.89%
XSD SPDR S&P Semiconductor ETF	99.13%	29.85%	10.75%	34.87%	-30.92%	42.54%	61.95%	64.66%	-6.35%	25.21%

Correlation

The correlation between IYT and XSD is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.59
Correlation (10Y) Calculated over the trailing 10-year period	0.58
Correlation (All Time) Calculated using the full available price history since Feb 7, 2006	0.62

The correlation between IYT and XSD shifts across timeframes, from 0.47 (1 year) to 0.62 (all time), reflecting how their relationship changes across market environments.

IYT vs. XSD - Sectors Allocation Comparison

Sectors	IYT	XSD
Industrials	83.3%	-
Technology	16.7%	97.8%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	2.2%
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

IYT vs. XSD — Risk / Return Rank

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

IYT

IYT Risk / Return Rank: 44
IYT Sharpe Ratio Rank: 43
IYT Sortino Ratio Rank: 42
IYT Omega Ratio Rank: 40
IYT Calmar Ratio Rank: 49
IYT Martin Ratio Rank: 48

XSD

XSD Risk / Return Rank: 96
XSD Sharpe Ratio Rank: 98
XSD Sortino Ratio Rank: 95
XSD Omega Ratio Rank: 93
XSD Calmar Ratio Rank: 97
XSD Martin Ratio Rank: 96

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.

IYT vs. XSD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Transportation Average ETF (IYT) and SPDR S&P Semiconductor ETF (XSD). 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.

	IYT	XSD	Difference
Sharpe ratio Return per unit of total volatility	1.51	5.15	-3.63
Sortino ratio Return per unit of downside risk	2.15	5.12	-2.97
Omega ratio Gain probability vs. loss probability	1.26	1.66	-0.40
Calmar ratio Return relative to maximum drawdown	2.47	10.22	-7.75
Martin ratio Return relative to average drawdown	8.00	35.63	-27.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IYT vs. XSD - Sharpe Ratio Comparison

The current IYT Sharpe Ratio is 1.51, which is lower than the XSD Sharpe Ratio of 5.15. The chart below compares the historical Sharpe Ratios of IYT and XSD, 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

	IYT	XSD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.51	5.15	-3.63
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.25	0.79	-0.54
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	0.89	-0.43
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.43	-0.02

Drawdowns

IYT vs. XSD - Drawdown Comparison

The maximum IYT drawdown since its inception was -60.39%, smaller than the maximum XSD drawdown of -64.56%. Use the drawdown chart below to compare losses from any high point for IYT and XSD.

Drawdown Indicators

	IYT	XSD	Difference
Max Drawdown Largest peak-to-trough decline	-60.39%	-64.56%	+4.17%
Max Drawdown (1Y) Largest decline over 1 year	-12.09%	-18.61%	+6.52%
Max Drawdown (3Y) Largest decline over 3 years	-26.35%	-41.25%	+14.90%
Max Drawdown (5Y) Largest decline over 5 years	-29.15%	-42.27%	+13.12%
Max Drawdown (10Y) Largest decline over 10 years	-41.28%	-42.27%	+0.99%
Current Drawdown Current decline from peak	-1.00%	0.00%	-1.00%
Average Drawdown Average peak-to-trough decline	-9.32%	-13.74%	+4.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.73%	5.34%	-1.61%

Volatility

IYT vs. XSD - Volatility Comparison

The current volatility for iShares Transportation Average ETF (IYT) is 7.34%, while SPDR S&P Semiconductor ETF (XSD) has a volatility of 15.04%. This indicates that IYT experiences smaller price fluctuations and is considered to be less risky than XSD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IYT	XSD	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.34%	15.04%	-7.70%
Volatility (6M) Calculated over the trailing 6-month period	15.43%	27.93%	-12.50%
Volatility (1Y) Calculated over the trailing 1-year period	20.17%	36.39%	-16.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.29%	38.25%	-15.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.15%	34.96%	-11.81%

IYT vs. XSD - Expense Ratio Comparison

IYT has a 0.42% expense ratio, which is higher than XSD's 0.35% expense ratio.

Dividends

IYT vs. XSD - Dividend Comparison

IYT's dividend yield for the trailing twelve months is around 0.95%, more than XSD's 0.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IYT iShares Transportation Average ETF	0.95%	1.00%	1.08%	1.26%	1.40%	0.77%	0.93%	1.29%	1.35%	0.92%	0.96%	1.28%
XSD SPDR S&P Semiconductor ETF	0.13%	0.26%	0.20%	0.31%	0.44%	0.10%	0.26%	0.51%	1.16%	0.59%	0.64%	0.58%

Frequently Asked Questions

Can I hold both IYT and XSD in my portfolio?

IYT and XSD have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IYT or XSD?

XSD has higher volatility (15.04%) compared to IYT (7.34%). In terms of maximum drawdown, IYT dropped -60.39% vs XSD's -64.56%.

Which ETF is better, IYT or XSD?

On 10-year performance, XSD leads with 30.90% vs 10.51% for IYT. On fees, XSD is cheaper at 0.35% per year. On volatility, IYT has been the lower-risk option at 7.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IYT or XSD?

Over the 10-year period, XSD has performed better with a 30.90% return vs 10.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IYT or XSD?

XSD is cheaper with a 0.35% expense ratio, compared with 0.42% for IYT.

Which ETF pays a higher dividend yield, IYT or XSD?

IYT has the higher dividend yield at 0.95%, compared with 0.13% for XSD.

What is the main difference between IYT and XSD?

IYT is categorized as Transportation Equities, while XSD is Semiconductors. IYT tracks Dow Jones Transportation Average Index, while XSD tracks S&P Semiconductor Select Industry. They also come from different issuers: iShares and State Street. Their fees differ too: 0.42% for IYT and 0.35% for XSD.

Which has better risk-adjusted returns?

XSD currently has the higher Sharpe Ratio (5.15 vs 1.51), 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.