JPXGY vs. XLF

Last updated Jun 5, 2026

JPXGY (Japan Exchange Group Inc ADR) is a stock, while XLF (State Street Financial Select Sector SPDR ETF) is Financials Equities fund tracking the Financial Select Sector Index. Over the past 10 years, JPXGY returned 8.28%/yr vs 12.60%/yr for XLF. At a 0.29 correlation, their price movements are largely independent.

Performance

JPXGY vs. XLF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Japan Exchange Group Inc ADR (JPXGY) and State Street Financial Select Sector SPDR ETF (XLF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JPXGY achieves a 20.08% return, which is significantly higher than XLF's -4.22% return. Over the past 10 years, JPXGY has underperformed XLF with an annualized return of 8.28%, while XLF has yielded a comparatively higher 12.60% annualized return.

JPXGY

• 1D: -2.88%
• 1M: 8.02%
• YTD: 20.08%
• 6M: 15.52%
• 1Y: 15.11%
• 3Y*: 16.63%
• 5Y*: 2.61%
• 10Y*: 8.28%

XLF

• 1D: 2.59%
• 1M: 1.16%
• YTD: -4.22%
• 6M: -1.90%
• 1Y: 4.34%
• 3Y*: 18.85%
• 5Y*: 8.16%
• 10Y*: 12.60%

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

JPXGY vs. XLF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JPXGY Japan Exchange Group Inc ADR	20.08%	-2.44%	6.91%	48.22%	-34.52%	-14.05%	45.60%	10.20%	-8.94%	24.11%
XLF State Street Financial Select Sector SPDR ETF	-4.22%	14.90%	30.56%	12.03%	-10.59%	34.80%	-1.74%	31.88%	-13.06%	22.00%

Correlation

The correlation between JPXGY and XLF is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (5Y) Calculated over the trailing 5-year period	0.28
Correlation (10Y) Calculated over the trailing 10-year period	0.27
Correlation (All Time) Calculated using the full available price history since May 14, 2015	0.29

Return for Risk

JPXGY vs. XLF — Risk / Return Rank

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

JPXGY

JPXGY Risk / Return Rank: 55
JPXGY Sharpe Ratio Rank: 57
JPXGY Sortino Ratio Rank: 52
JPXGY Omega Ratio Rank: 49
JPXGY Calmar Ratio Rank: 59
JPXGY Martin Ratio Rank: 59

XLF

XLF Risk / Return Rank: 13
XLF Sharpe Ratio Rank: 14
XLF Sortino Ratio Rank: 13
XLF Omega Ratio Rank: 13
XLF Calmar Ratio Rank: 13
XLF Martin Ratio Rank: 13

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.

JPXGY vs. XLF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Japan Exchange Group Inc ADR (JPXGY) and State Street Financial Select Sector SPDR ETF (XLF). 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.

	JPXGY	XLF	Difference
Sharpe ratio: Return per unit of total volatility	0.46	0.30	+0.16
Sortino ratio: Return per unit of downside risk	0.89	0.50	+0.39
Omega ratio: Gain probability vs. loss probability	1.10	1.06	+0.04
Calmar ratio: Return relative to maximum drawdown	0.82	0.29	+0.53
Martin ratio: Return relative to average drawdown	1.72	0.77	+0.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JPXGY vs. XLF - Sharpe Ratio Comparison

The current JPXGY Sharpe Ratio is 0.46, which is higher than the XLF Sharpe Ratio of 0.30. The chart below compares the historical Sharpe Ratios of JPXGY and XLF, 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

	JPXGY	XLF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.46	0.30	+0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.09	0.44	-0.35
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.30	0.57	-0.27
Sharpe Ratio (All Time) Calculated using the full available price history	0.19	0.21	-0.01

Drawdowns

JPXGY vs. XLF - Drawdown Comparison

The maximum JPXGY drawdown since its inception was -54.38%, smaller than the maximum XLF drawdown of -82.69%. Use the drawdown chart below to compare losses from any high point for JPXGY and XLF.

Drawdown Indicators

	JPXGY	XLF	Difference
Max Drawdown Largest peak-to-trough decline	-54.38%	-82.69%	+28.31%
Max Drawdown (1Y) Largest decline over 1 year	-18.40%	-14.79%	-3.61%
Max Drawdown (3Y) Largest decline over 3 years	-29.03%	-15.54%	-13.49%
Max Drawdown (5Y) Largest decline over 5 years	-53.69%	-25.81%	-27.88%
Max Drawdown (10Y) Largest decline over 10 years	-54.38%	-42.86%	-11.52%
Current Drawdown Current decline from peak	-6.00%	-6.99%	+0.99%
Average Drawdown Average peak-to-trough decline	-17.94%	-20.02%	+2.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.07%	5.68%	+3.39%

Volatility

JPXGY vs. XLF - Volatility Comparison

Japan Exchange Group Inc ADR (JPXGY) has a higher volatility of 12.09% compared to State Street Financial Select Sector SPDR ETF (XLF) at 4.21%. This indicates that JPXGY's price experiences larger fluctuations and is considered to be riskier than XLF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JPXGY	XLF	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.09%	4.21%	+7.88%
Volatility (6M) Calculated over the trailing 6-month period	25.10%	11.24%	+13.86%
Volatility (1Y) Calculated over the trailing 1-year period	33.25%	14.63%	+18.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.53%	18.66%	+9.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.98%	22.17%	+5.81%

Dividends

JPXGY vs. XLF - Dividend Comparison

JPXGY has not paid dividends to shareholders, while XLF's dividend yield for the trailing twelve months is around 1.52%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JPXGY Japan Exchange Group Inc ADR	0.00%	1.89%	0.99%	1.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.34%	3.11%	1.08%
XLF State Street Financial Select Sector SPDR ETF	1.52%	1.31%	1.42%	1.71%	2.04%	1.63%	2.03%	1.87%	2.08%	1.48%	21.10%	1.95%

Frequently Asked Questions

Can I hold both JPXGY and XLF in my portfolio?

JPXGY and XLF have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JPXGY or XLF?

JPXGY has higher volatility (12.09%) compared to XLF (4.21%). In terms of maximum drawdown, JPXGY dropped -54.38% vs XLF's -82.69%.

Which has better risk-adjusted returns?

JPXGY currently has the higher Sharpe Ratio (0.46 vs 0.30), 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.