LBO vs. XLFI

Last updated Aug 2, 2026

LBO (WHITEWOLF Publicly Listed Private Equity ETF) and XLFI (State Street Financial Select Sector SPDR Premium Income ETF) are both exchange-traded funds - LBO is a Financials Equities fund actively managed by Alpha Architect, while XLFI is a Derivative Income fund actively managed by State Street. Both are actively managed. Over the past year, LBO returned -14.55% vs 11.31% for XLFI. Their 0.61 correlation means they have sometimes moved together and sometimes differently. LBO charges 0.70%/yr vs 0.35%/yr for XLFI.

Performance

LBO vs. XLFI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WHITEWOLF Publicly Listed Private Equity ETF (LBO) and State Street Financial Select Sector SPDR Premium Income ETF (XLFI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LBO achieves a -10.41% return, which is significantly lower than XLFI's 3.17% return.

LBO

• 1D: 0.99%
• 1M: 3.40%
• 6M: -7.82%
• YTD: -10.41%
• 1Y: -14.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.37%

XLFI

• 1D: -0.41%
• 1M: 2.09%
• 6M: 4.95%
• YTD: 3.17%
• 1Y: 11.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 8.72%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
LBO WHITEWOLF Publicly Listed Private Equity ETF	$3.76K	$7.07K	$41.04K
XLFI State Street Financial Select Sector SPDR Premium Income ETF	$205.39K	$226.21K	$175.11K

LBO vs. XLFI - Yearly Performance Comparison

	2026 (YTD)	2025
LBO WHITEWOLF Publicly Listed Private Equity ETF	-10.41%	-7.90%
XLFI State Street Financial Select Sector SPDR Premium Income ETF	3.17%	5.40%

Correlation

The correlation between LBO and XLFI is 0.61, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.61
Correlation (All Time) Calculated using the full available price history since Jul 30, 2025	0.61

The correlation between LBO and XLFI has been stable across timeframes, ranging from 0.61 to 0.61 - a consistent structural relationship.

LBO vs. XLFI - Sectors Allocation Comparison

Sectors	LBO	XLFI
Financial Services	96.1%	100.4%
Industrials	3.9%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

LBO vs. XLFI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

LBO

LBO Risk / Return Rank: 4
LBO Sharpe Ratio Rank: 3
LBO Sortino Ratio Rank: 4
LBO Omega Ratio Rank: 4
LBO Calmar Ratio Rank: 5
LBO Martin Ratio Rank: 4

XLFI

XLFI Risk / Return Rank: 29
XLFI Sharpe Ratio Rank: 33
XLFI Sortino Ratio Rank: 29
XLFI Omega Ratio Rank: 31
XLFI Calmar Ratio Rank: 26
XLFI Martin Ratio Rank: 27

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

LBO vs. XLFI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WHITEWOLF Publicly Listed Private Equity ETF (LBO) and State Street Financial Select Sector SPDR Premium Income ETF (XLFI). 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.

	LBO	XLFI	Difference
Sharpe ratio: Return per unit of total volatility	-0.72	0.81	-1.53
Sortino ratio: Return per unit of downside risk	-0.90	1.12	-2.01
Omega ratio: Gain probability vs. loss probability	0.89	1.15	-0.26
Calmar ratio: Return relative to maximum drawdown	-0.59	0.80	-1.39
Martin ratio: Return relative to average drawdown	-1.10	2.26	-3.37

LBO vs. XLFI - Sharpe Ratio Comparison

The current LBO Sharpe Ratio is -0.72, which is lower than the XLFI Sharpe Ratio of 0.81. The chart below compares the historical Sharpe Ratios of LBO and XLFI, 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

LBO vs. XLFI - Drawdown Comparison

The maximum LBO drawdown since its inception was -31.40%, which is greater than XLFI's maximum drawdown of -11.89%. Use the drawdown chart below to compare losses from any high point for LBO and XLFI.

Drawdown Indicators

	LBO	XLFI	Difference
Max Drawdown Largest peak-to-trough decline	-31.40%	-11.89%	-19.51%
Max Drawdown (1Y) Largest decline over 1 year	-27.32%	-11.89%	-15.43%
Current Drawdown Current decline from peak	-21.24%	-1.11%	-20.13%
Average Drawdown Average peak-to-trough decline	-9.21%	-3.02%	-6.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.51%	4.22%	+10.29%

Volatility

LBO vs. XLFI - Volatility Comparison

WHITEWOLF Publicly Listed Private Equity ETF (LBO) has a higher volatility of 5.58% compared to State Street Financial Select Sector SPDR Premium Income ETF (XLFI) at 2.78%. This indicates that LBO's price experiences larger fluctuations and is considered to be riskier than XLFI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LBO	XLFI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.58%	2.78%	+2.80%
Volatility (6M) Calculated over the trailing 6-month period	18.33%	9.08%	+9.25%
Volatility (1Y) Calculated over the trailing 1-year period	22.30%	11.88%	+10.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.15%	11.85%	+9.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.15%	11.85%	+9.30%

LBO vs. XLFI - Expense Ratio Comparison

LBO has a 0.70% expense ratio, which is higher than XLFI's 0.35% expense ratio.

Dividends

LBO vs. XLFI - Dividend Comparison

LBO's dividend yield for the trailing twelve months is around 6.64%, less than XLFI's 11.29% yield.

Position	TTM	2025	2024	2023
LBO WHITEWOLF Publicly Listed Private Equity ETF	6.64%	7.04%	5.79%	1.20%
XLFI State Street Financial Select Sector SPDR Premium Income ETF	11.29%	5.57%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LBO and XLFI in my portfolio?

LBO and XLFI have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LBO or XLFI?

LBO has higher volatility (5.58%) compared to XLFI (2.78%). In terms of maximum drawdown, LBO dropped -31.40% vs XLFI's -11.89%.

Which ETF is better, LBO or XLFI?

On 1-year performance, XLFI leads with 11.31% vs -14.55% for LBO. On fees, XLFI is cheaper at 0.35% per year. On volatility, XLFI has been the lower-risk option at 2.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LBO or XLFI?

Over the 1-year period, XLFI has performed better with a 11.31% return vs -14.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LBO or XLFI?

XLFI is cheaper with a 0.35% expense ratio, compared with 0.70% for LBO.

Which ETF pays a higher dividend yield, LBO or XLFI?

XLFI has the higher dividend yield at 11.29%, compared with 6.64% for LBO.

What is the main difference between LBO and XLFI?

LBO is categorized as Financials Equities, while XLFI is Derivative Income. They also come from different issuers: Alpha Architect and State Street. Their fees differ too: 0.70% for LBO and 0.35% for XLFI.

Which has better risk-adjusted returns?

XLFI currently has the higher Sharpe Ratio (0.81 vs -0.72), 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.