MADE vs. XLI
MADE (iShares U.S. Manufacturing ETF) and XLI (Industrial Select Sector SPDR Fund) are both Industrials Equities funds — MADE tracks the S&P U.S. Manufacturing Select Index while XLI tracks the Industrial Select Sector Index. Both are passively managed. Over the past year, MADE returned 68.20% vs 40.34% for XLI. Their correlation of 0.91 suggests significant overlap in exposure. MADE charges 0.40%/yr vs 0.13%/yr for XLI.
Performance
MADE vs. XLI - Performance Comparison
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Returns By Period
In the year-to-date period, MADE achieves a 16.17% return, which is significantly higher than XLI's 12.17% return.
MADE
- 1D
- -0.08%
- 1M
- 5.94%
- YTD
- 16.17%
- 6M
- 23.92%
- 1Y
- 68.20%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XLI
- 1D
- 1.87%
- 1M
- 5.34%
- YTD
- 12.17%
- 6M
- 15.07%
- 1Y
- 40.34%
- 3Y*
- 21.53%
- 5Y*
- 13.11%
- 10Y*
- 13.85%
MADE vs. XLI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MADE iShares U.S. Manufacturing ETF | 16.17% | 27.34% | 2.10% |
XLI Industrial Select Sector SPDR Fund | 12.17% | 19.35% | 5.81% |
Correlation
The correlation between MADE and XLI is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification — they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Jul 19, 2024 | 0.91 |
The correlation between MADE and XLI has been stable across timeframes, ranging from 0.90 to 0.91 — a consistent structural relationship.
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Return for Risk
MADE vs. XLI — Risk / Return Rank
MADE
XLI
MADE vs. XLI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Manufacturing ETF (MADE) 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.
| MADE | XLI | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.44 | 2.64 | +0.79 |
Sortino ratioReturn per unit of downside risk | 4.41 | 3.64 | +0.78 |
Omega ratioGain probability vs. loss probability | 1.56 | 1.45 | +0.11 |
Calmar ratioReturn relative to maximum drawdown | 4.78 | 3.21 | +1.57 |
Martin ratioReturn relative to average drawdown | 21.42 | 13.72 | +7.71 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MADE | XLI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.44 | 2.64 | +0.79 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.76 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.70 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.21 | 0.45 | +0.76 |
Drawdowns
MADE vs. XLI - Drawdown Comparison
The maximum MADE drawdown since its inception was -23.79%, smaller than the maximum XLI drawdown of -62.26%. Use the drawdown chart below to compare losses from any high point for MADE and XLI.
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Drawdown Indicators
| MADE | XLI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.79% | -62.26% | +38.47% |
Max Drawdown (1Y)Largest decline over 1 year | -13.43% | -12.21% | -1.22% |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.64% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -42.33% | — |
Current DrawdownCurrent decline from peak | -2.21% | -2.74% | +0.53% |
Average DrawdownAverage peak-to-trough decline | -3.98% | -9.23% | +5.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.99% | 2.86% | +0.13% |
Volatility
MADE vs. XLI - Volatility Comparison
iShares U.S. Manufacturing ETF (MADE) has a higher volatility of 9.48% compared to Industrial Select Sector SPDR Fund (XLI) at 7.06%. This indicates that MADE'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.
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Volatility by Period
| MADE | XLI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.48% | 7.06% | +2.42% |
Volatility (6M)Calculated over the trailing 6-month period | 16.29% | 12.11% | +4.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.15% | 15.40% | +4.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.16% | 17.35% | +4.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.16% | 19.92% | +2.24% |
MADE vs. XLI - Expense Ratio Comparison
MADE has a 0.40% expense ratio, which is higher than XLI's 0.13% expense ratio.
Dividends
MADE vs. XLI - Dividend Comparison
MADE's dividend yield for the trailing twelve months is around 0.69%, less than XLI's 1.18% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MADE iShares U.S. Manufacturing ETF | 0.69% | 0.89% | 0.34% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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% |