MXI vs. DVXB

Last updated Aug 2, 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. Over the past year, MXI returned 28.15% vs 20.35% for DVXB. Their correlation of 0.85 means they have usually moved in the same direction. 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 10.45% return, which is significantly lower than DVXB's 15.12% return.

MXI

• 1D: -2.15%
• 1M: -1.96%
• 6M: 1.26%
• YTD: 10.45%
• 1Y: 28.15%
• 3Y*: 10.42%
• 5Y*: 5.97%
• 10Y*: 10.43%
• ALL TIME*: 6.38%

DVXB

• 1D: -3.82%
• 1M: -4.08%
• 6M: -0.84%
• YTD: 15.12%
• 1Y: 20.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.74%

*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)
DVXB WEBs Materials XLB Defined Volatility ETF	$1.05K	$1.06K	$4.38K
MXI iShares Global Materials ETF	$1.58M	$1.75M	$2.67M

MXI vs. DVXB - Yearly Performance Comparison

	2026 (YTD)	2025
MXI iShares Global Materials ETF	10.45%	9.83%
DVXB WEBs Materials XLB Defined Volatility ETF	15.12%	-6.27%

Correlation

The correlation between MXI and DVXB is 0.85, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.85
Correlation (All Time) Calculated using the full available price history since Jul 23, 2025	0.85

The correlation between MXI and DVXB has been stable across timeframes, ranging from 0.85 to 0.85 - a consistent structural relationship.

Return for Risk

MXI vs. DVXB — Risk / Return Rank

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

MXI

MXI Risk / Return Rank: 51
MXI Sharpe Ratio Rank: 55
MXI Sortino Ratio Rank: 50
MXI Omega Ratio Rank: 53
MXI Calmar Ratio Rank: 48
MXI Martin Ratio Rank: 49

DVXB

DVXB Risk / Return Rank: 27
DVXB Sharpe Ratio Rank: 26
DVXB Sortino Ratio Rank: 27
DVXB Omega Ratio Rank: 26
DVXB Calmar Ratio Rank: 28
DVXB Martin Ratio Rank: 26

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.

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	1.33	0.59	+0.73
Sortino ratio: Return per unit of downside risk	1.80	1.02	+0.78
Omega ratio: Gain probability vs. loss probability	1.23	1.12	+0.11
Calmar ratio: Return relative to maximum drawdown	1.72	0.91	+0.81
Martin ratio: Return relative to average drawdown	5.64	2.08	+3.56

MXI vs. DVXB - Sharpe Ratio Comparison

The current MXI Sharpe Ratio is 1.33, which is higher than the DVXB Sharpe Ratio of 0.59. The chart below compares the historical Sharpe Ratios of MXI and DVXB, 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

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%	-19.77%	+3.59%
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	-8.41%	-12.78%	+4.37%
Average Drawdown Average peak-to-trough decline	-17.98%	-7.54%	-10.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.91%	8.63%	-3.72%

Volatility

MXI vs. DVXB - Volatility Comparison

The current volatility for iShares Global Materials ETF (MXI) is 6.48%, while WEBs Materials XLB Defined Volatility ETF (DVXB) has a volatility of 8.95%. This indicates that MXI experiences smaller price fluctuations and is considered to be less risky than DVXB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MXI	DVXB	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.48%	8.95%	-2.47%
Volatility (6M) Calculated over the trailing 6-month period	18.38%	22.87%	-4.49%
Volatility (1Y) Calculated over the trailing 1-year period	20.95%	30.49%	-9.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.92%	30.60%	-10.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.42%	30.60%	-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 1.73%, 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	1.73%	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 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MXI or DVXB?

DVXB has higher volatility (8.95%) compared to MXI (6.48%). In terms of maximum drawdown, MXI dropped -68.44% vs DVXB's -19.77%.

Which ETF is better, MXI or DVXB?

On 1-year performance, MXI leads with 28.15% vs 20.35% for DVXB. On fees, MXI is cheaper at 0.46% per year. On volatility, MXI has been the lower-risk option at 6.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MXI or DVXB?

Over the 1-year period, MXI has performed better with a 28.15% return vs 20.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

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 1.73%, 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.

Which has better risk-adjusted returns?

MXI currently has the higher Sharpe Ratio (1.33 vs 0.59), 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.