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MXI vs. XLBI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MXI vs. XLBI

Last updated Jul 14, 2026
Documentation

MXI (iShares Global Materials ETF) and XLBI (State Street Materials Select Sector SPDR Premium Income ETF) are both exchange-traded funds - MXI is a Materials fund tracking the S&P Global Materials Index, while XLBI is a Derivative Income fund actively managed by State Street. MXI is passively managed, while XLBI is actively managed. Their correlation of 0.86 suggests significant overlap in exposure. MXI charges 0.46%/yr vs 0.35%/yr for XLBI.

Performance

MXI vs. XLBI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Global Materials ETF (MXI) and State Street Materials Select Sector SPDR Premium Income ETF (XLBI). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, MXI achieves a 9.37% return, which is significantly higher than XLBI's 6.83% 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%

XLBI

1D
-0.90%
1M
-1.70%
6M
4.52%
YTD
6.83%
1Y
—
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

MXI vs. XLBI - Yearly Performance Comparison

2026 (YTD)2025
MXI
iShares Global Materials ETF		9.37%12.24%
XLBI
State Street Materials Select Sector SPDR Premium Income ETF		6.83%2.25%

Correlation

The correlation between MXI and XLBI is 0.86, 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 30, 2025

0.86

MXI vs. XLBI - Sectors Allocation Comparison

Sectors
MXI
XLBI

Basic Materials

95.2%

-

Consumer Cyclical

4.4%

-

Consumer Defensive

0.6%

-

Industrials

0.5%

-

Communication Services

-

-

Energy

-

-

Financial Services

-

98.9%

Healthcare

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Basic Materials

MXI
95.2%
XLBI

-

Consumer Cyclical

MXI
4.4%
XLBI

-

Consumer Defensive

MXI
0.6%
XLBI

-

Industrials

MXI
0.5%
XLBI

-

Communication Services

MXI

-

XLBI

-

Energy

MXI

-

XLBI

-

Financial Services

MXI

-

XLBI
98.9%

Healthcare

MXI

-

XLBI

-

Real Estate

MXI

-

XLBI

-

Technology

MXI

-

XLBI

-

Utilities

MXI

-

XLBI

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Global Materials ETF

State Street Materials Select Sector SPDR Premium Income ETF

Often compared with MXI:
MXI vs. XLBMXI vs. VAWMXI vs. GNRMXI vs. IYMMXI vs. SPYMXI vs. XMEMXI vs. SPHQ
Often compared with XLBI:
XLBI vs. DVXBXLBI vs. SPYXLBI vs. XLBXLBI vs. BILXLBI vs. GLDXLBI vs. BUYWXLBI vs. SPIN

Return for Risk

MXI vs. XLBI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MXI
MXI Risk / Return Rank: 3535
Overall Rank
MXI Sharpe Ratio Rank: 3636
Sharpe Ratio Rank
MXI Sortino Ratio Rank: 3333
Sortino Ratio Rank
MXI Omega Ratio Rank: 3535
Omega Ratio Rank
MXI Calmar Ratio Rank: 3333
Calmar Ratio Rank
MXI Martin Ratio Rank: 3838
Martin Ratio Rank
XLBI

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. XLBI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global Materials ETF (MXI) and State Street Materials Select Sector SPDR Premium Income ETF (XLBI). 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.

MXIXLBIDifference
Sharpe ratioReturn per unit of total volatility
1.05

—

—

Sortino ratioReturn per unit of downside risk
1.46

—

—

Omega ratioGain probability vs. loss probability

1.19

—

—

Calmar ratioReturn relative to maximum drawdown

1.35

—

—

Martin ratioReturn relative to average drawdown

4.76

—

—

MXI vs. XLBI - Sharpe Ratio Comparison

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Drawdowns

MXI vs. XLBI - Drawdown Comparison

The maximum MXI drawdown since its inception was -68.44%, which is greater than XLBI's maximum drawdown of -10.62%. Use the drawdown chart below to compare losses from any high point for MXI and XLBI.

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Drawdown Indicators

MXIXLBIDifference

Max Drawdown

Largest peak-to-trough decline

-68.44%

-10.62%

-57.82%

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%

-2.76%

-6.55%

Average Drawdown

Average peak-to-trough decline

-18.01%

-2.10%

-15.91%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.58%

—

—

Volatility

MXI vs. XLBI - Volatility Comparison

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Volatility by Period

MXIXLBIDifference

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%

13.94%

+6.94%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.89%

13.94%

+5.95%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.39%

13.94%

+6.45%

MXI vs. XLBI - Expense Ratio Comparison

MXI has a 0.46% expense ratio, which is higher than XLBI's 0.35% expense ratio.

Dividends

MXI vs. XLBI - Dividend Comparison

MXI's dividend yield for the trailing twelve months is around 1.75%, less than XLBI's 14.97% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
XLBI
State Street Materials Select Sector SPDR Premium Income ETF		14.97%7.71%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

MXI and XLBI have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XLBI is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XLBI is cheaper with a 0.35% expense ratio, compared with 0.46% for MXI.

XLBI has the higher dividend yield at 14.97%, compared with 1.75% for MXI.

MXI is categorized as Materials, while XLBI is Derivative Income. They also come from different issuers: iShares and State Street. Their fees differ too: 0.46% for MXI and 0.35% for XLBI.

Portfolio Optimizer

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