IYW vs. XLI
IYW (iShares U.S. Technology ETF) and XLI (Industrial Select Sector SPDR Fund) are both exchange-traded funds - IYW is a Technology Equities fund tracking the Russell 1000 Technology RIC 22.5/45 Capped Index, while XLI is a Industrials Equities fund tracking the Industrial Select Sector Index. Both are passively managed. Over the past 10 years, IYW returned 25.53%/yr vs 13.86%/yr for XLI. A 0.66 correlation means they provide meaningful diversification when combined. IYW charges 0.38%/yr vs 0.08%/yr for XLI.
Performance
IYW vs. XLI - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IYW achieves a 22.81% return, which is significantly higher than XLI's 12.25% return. Over the past 10 years, IYW has outperformed XLI with an annualized return of 25.53%, while XLI has yielded a comparatively lower 13.86% annualized return.
IYW
- 1D
- 1.61%
- 1M
- 2.72%
- YTD
- 22.81%
- 6M
- 20.20%
- 1Y
- 50.11%
- 3Y*
- 33.35%
- 5Y*
- 21.56%
- 10Y*
- 25.53%
XLI
- 1D
- -0.32%
- 1M
- 0.25%
- YTD
- 12.25%
- 6M
- 13.16%
- 1Y
- 21.42%
- 3Y*
- 21.04%
- 5Y*
- 12.54%
- 10Y*
- 13.86%
IYW vs. XLI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IYW iShares U.S. Technology ETF | 22.81% | 25.38% | 30.25% | 65.44% | -34.83% | 35.44% | 47.45% | 46.64% | -0.93% | 36.60% |
XLI Industrial Select Sector SPDR Fund | 12.25% | 19.35% | 17.31% | 18.13% | -5.57% | 21.08% | 10.91% | 29.08% | -13.25% | 23.98% |
Correlation
The correlation between IYW and XLI 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 | 0.61 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since May 22, 2000 | 0.66 |
The correlation between IYW and XLI shifts across timeframes, from 0.47 (1 year) to 0.66 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IYW vs. XLI — Risk / Return Rank
IYW
XLI
IYW vs. XLI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Technology ETF (IYW) 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.
| IYW | XLI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.00 | ||
| Sortino ratioReturn per unit of downside risk | +0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.24 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.83 | 1.76 | +1.07 |
| Martin ratioReturn relative to average drawdown | 9.20 | 6.97 | +2.23 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| IYW | XLI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.40 | 1.39 | +1.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.83 | 0.72 | +0.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.02 | 0.70 | +0.32 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | 0.45 | -0.11 |
Drawdowns
IYW vs. XLI - Drawdown Comparison
The maximum IYW drawdown since its inception was -81.90%, which is greater than XLI's maximum drawdown of -62.26%. Use the drawdown chart below to compare losses from any high point for IYW and XLI.
Loading charts...
Drawdown Indicators
| IYW | XLI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.90% | -62.26% | -19.64% |
Max Drawdown (1Y)Largest decline over 1 year | -17.81% | -12.21% | -5.60% |
Max Drawdown (3Y)Largest decline over 3 years | -26.47% | -18.49% | -7.98% |
Max Drawdown (5Y)Largest decline over 5 years | -39.44% | -21.64% | -17.80% |
Max Drawdown (10Y)Largest decline over 10 years | -39.44% | -42.33% | +2.89% |
Current DrawdownCurrent decline from peak | -5.70% | -2.67% | -3.03% |
Average DrawdownAverage peak-to-trough decline | -34.64% | -9.20% | -25.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.46% | 3.08% | +2.38% |
Volatility
IYW vs. XLI - Volatility Comparison
iShares U.S. Technology ETF (IYW) has a higher volatility of 8.86% compared to Industrial Select Sector SPDR Fund (XLI) at 3.98%. This indicates that IYW'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.
Loading charts...
Volatility by Period
| IYW | XLI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.86% | 3.98% | +4.88% |
Volatility (6M)Calculated over the trailing 6-month period | 17.10% | 12.84% | +4.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.05% | 15.47% | +5.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.01% | 17.43% | +8.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.18% | 19.99% | +5.19% |
IYW vs. XLI - Expense Ratio Comparison
IYW has a 0.38% expense ratio, which is higher than XLI's 0.08% expense ratio.
Dividends
IYW vs. XLI - Dividend Comparison
IYW's dividend yield for the trailing twelve months is around 0.11%, less than XLI's 1.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IYW iShares U.S. Technology ETF | 0.11% | 0.14% | 0.21% | 0.34% | 0.50% | 0.31% | 0.56% | 0.72% | 0.92% | 0.82% | 1.14% | 1.12% |
XLI Industrial Select Sector SPDR Fund | 1.18% | 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
IYW and XLI 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.
IYW has higher volatility (8.86%) compared to XLI (3.98%). In terms of maximum drawdown, IYW dropped -81.90% vs XLI's -62.26%.
On 10-year performance, IYW leads with 25.53% vs 13.86% for XLI. On fees, XLI is cheaper at 0.08% per year. On volatility, XLI has been the lower-risk option at 3.98%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IYW has performed better with a 25.53% return vs 13.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XLI is cheaper with a 0.08% expense ratio, compared with 0.38% for IYW.
XLI has the higher dividend yield at 1.18%, compared with 0.11% for IYW.
IYW is categorized as Technology Equities, while XLI is Industrials Equities. IYW tracks Russell 1000 Technology RIC 22.5/45 Capped Index, while XLI tracks Industrial Select Sector Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.38% for IYW and 0.08% for XLI.
IYW currently has the higher Sharpe Ratio (2.40 vs 1.39), 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.
Find the right allocation for IYW and XLI
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer