MXI vs. DVXB

Last updated Jul 14, 2026

MXI (iShares Global Materials ETF) and DVXB (WEBs Materials XLB Defined Volatility ETF) are both Materials funds - MXI tracks the S&P Global Materials Index while DVXB tracks the Syntax Defined Volatility XLB Index. Both are passively managed. Their correlation of 0.87 suggests significant overlap in exposure. MXI charges 0.46%/yr vs 0.89%/yr for DVXB.

Performance

MXI vs. DVXB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Global Materials ETF (MXI) and WEBs Materials XLB Defined Volatility ETF (DVXB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MXI achieves a 9.37% return, which is significantly lower than DVXB's 15.59% return.

MXI

• 1D: -1.29%
• 1M: -5.71%
• 6M: 2.67%
• YTD: 9.37%
• 1Y: 21.70%
• 3Y*: 10.33%
• 5Y*: 6.07%
• 10Y*: 10.30%

DVXB

• 1D: -0.86%
• 1M: -4.13%
• 6M: 2.05%
• YTD: 15.59%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MXI vs. DVXB - Yearly Performance Comparison

	2026 (YTD)	2025
MXI iShares Global Materials ETF	9.37%	9.83%
DVXB WEBs Materials XLB Defined Volatility ETF	15.59%	-6.27%

Correlation

The correlation between MXI and DVXB is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 23, 2025	0.87

Return for Risk

MXI vs. DVXB — Risk / Return Rank

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

MXI

MXI Risk / Return Rank: 35
MXI Sharpe Ratio Rank: 36
MXI Sortino Ratio Rank: 33
MXI Omega Ratio Rank: 35
MXI Calmar Ratio Rank: 33
MXI Martin Ratio Rank: 38

DVXB

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

MXI vs. DVXB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global Materials ETF (MXI) and WEBs Materials XLB Defined Volatility ETF (DVXB). 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.

	MXI	DVXB	Difference
Sharpe ratio: Return per unit of total volatility	1.05	—	—
Sortino ratio: Return per unit of downside risk	1.46	—	—
Omega ratio: Gain probability vs. loss probability	1.19	—	—
Calmar ratio: Return relative to maximum drawdown	1.35	—	—
Martin ratio: Return relative to average drawdown	4.76	—	—

Drawdowns

MXI vs. DVXB - Drawdown Comparison

The maximum MXI drawdown since its inception was -68.44%, which is greater than DVXB's maximum drawdown of -19.77%. Use the drawdown chart below to compare losses from any high point for MXI and DVXB.

Drawdown Indicators

	MXI	DVXB	Difference
Max Drawdown Largest peak-to-trough decline	-68.44%	-19.77%	-48.67%
Max Drawdown (1Y) Largest decline over 1 year	-16.18%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-22.25%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-28.76%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-39.52%	—	—
Current Drawdown Current decline from peak	-9.31%	-12.42%	+3.11%
Average Drawdown Average peak-to-trough decline	-18.01%	-7.31%	-10.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.58%	—	—

Volatility

Volatility by Period

	MXI	DVXB	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.36%	—	—
Volatility (6M) Calculated over the trailing 6-month period	18.06%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	20.88%	30.57%	-9.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.89%	30.57%	-10.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.39%	30.57%	-10.18%

MXI vs. DVXB - Expense Ratio Comparison

MXI has a 0.46% expense ratio, which is lower than DVXB's 0.89% expense ratio.

Dividends

MXI vs. DVXB - Dividend Comparison

MXI's dividend yield for the trailing twelve months is around 1.75%, while DVXB has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DVXB WEBs Materials XLB Defined Volatility ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MXI iShares Global Materials ETF	1.75%	2.22%	3.24%	2.92%	4.84%	3.51%	1.21%	3.64%	2.77%	1.76%	1.31%	3.64%

Frequently Asked Questions

Can I hold both MXI and DVXB in my portfolio?

MXI and DVXB have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MXI or DVXB?

On fees, MXI is cheaper at 0.46% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MXI or DVXB?

MXI is cheaper with a 0.46% expense ratio, compared with 0.89% for DVXB.

Which ETF pays a higher dividend yield, MXI or DVXB?

MXI has the higher dividend yield at 1.75%, compared with 0.00% for DVXB.

What is the main difference between MXI and DVXB?

MXI tracks S&P Global Materials Index, while DVXB tracks Syntax Defined Volatility XLB Index. They also come from different issuers: iShares and WEBs. Their fees differ too: 0.46% for MXI and 0.89% for DVXB.