OEF vs. XLG

Last updated Jun 4, 2026

OEF (iShares S&P 100 ETF) and XLG (Invesco S&P 500 Top 50 ETF) are both exchange-traded funds - OEF is a Large Cap Growth Equities fund tracking the S&P 100 Index, while XLG is a S&P 500 fund tracking the S&P 500 Top 50 Index. Both are passively managed. Over the past 10 years, OEF returned 16.71%/yr vs 17.27%/yr for XLG. With a 0.98 correlation, they move nearly in lockstep. Both charge a 0.20% expense ratio.

Performance

OEF vs. XLG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares S&P 100 ETF (OEF) and Invesco S&P 500 Top 50 ETF (XLG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OEF achieves a 9.51% return, which is significantly higher than XLG's 7.57% return. Both investments have delivered pretty close results over the past 10 years, with OEF having a 16.71% annualized return and XLG not far ahead at 17.27%.

OEF

• 1D: -0.87%
• 1M: 5.44%
• YTD: 9.51%
• 6M: 9.34%
• 1Y: 29.54%
• 3Y*: 24.53%
• 5Y*: 15.70%
• 10Y*: 16.71%

XLG

• 1D: -1.15%
• 1M: 4.22%
• YTD: 7.57%
• 6M: 7.32%
• 1Y: 28.54%
• 3Y*: 24.46%
• 5Y*: 16.24%
• 10Y*: 17.27%

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

OEF vs. XLG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OEF iShares S&P 100 ETF	9.51%	19.80%	30.74%	32.71%	-21.03%	29.18%	21.21%	31.87%	-4.16%	21.82%
XLG Invesco S&P 500 Top 50 ETF	7.57%	19.51%	33.49%	38.16%	-24.29%	30.77%	24.15%	32.04%	-3.59%	23.04%

Correlation

The correlation between OEF and XLG is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (10Y) Calculated over the trailing 10-year period	0.99
Correlation (All Time) Calculated using the full available price history since May 11, 2005	0.98

The correlation between OEF and XLG has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

OEF vs. XLG - Sectors Allocation Comparison

Sectors	OEF	XLG
Technology	41.0%	43.9%
Communication Services	14.5%	17.1%
Financial Services	10.7%	9.6%
Consumer Cyclical	10.5%	11.3%
Healthcare	8.3%	7.0%
Consumer Defensive	5.4%	5.8%
Industrials	5.3%	1.9%
Energy	2.6%	2.7%
Utilities	0.9%	-
Basic Materials	0.5%	0.6%
Real Estate	0.3%	-

Return for Risk

OEF vs. XLG — Risk / Return Rank

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

OEF

OEF Risk / Return Rank: 64
OEF Sharpe Ratio Rank: 69
OEF Sortino Ratio Rank: 67
OEF Omega Ratio Rank: 68
OEF Calmar Ratio Rank: 53
OEF Martin Ratio Rank: 62

XLG

XLG Risk / Return Rank: 56
XLG Sharpe Ratio Rank: 63
XLG Sortino Ratio Rank: 61
XLG Omega Ratio Rank: 61
XLG Calmar Ratio Rank: 46
XLG Martin Ratio Rank: 51

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.

OEF vs. XLG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P 100 ETF (OEF) and Invesco S&P 500 Top 50 ETF (XLG). 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.

	OEF	XLG	Difference
Sharpe ratio Return per unit of total volatility	2.33	2.15	+0.18
Sortino ratio Return per unit of downside risk	3.15	2.92	+0.23
Omega ratio Gain probability vs. loss probability	1.42	1.38	+0.04
Calmar ratio Return relative to maximum drawdown	2.68	2.31	+0.37
Martin ratio Return relative to average drawdown	11.29	8.66	+2.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OEF vs. XLG - Sharpe Ratio Comparison

The current OEF Sharpe Ratio is 2.33, which is comparable to the XLG Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of OEF and XLG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	OEF	XLG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.33	2.15	+0.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.89	0.87	+0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.91	0.92	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.62	-0.18

Drawdowns

OEF vs. XLG - Drawdown Comparison

The maximum OEF drawdown since its inception was -54.11%, roughly equal to the maximum XLG drawdown of -52.39%. Use the drawdown chart below to compare losses from any high point for OEF and XLG.

Drawdown Indicators

	OEF	XLG	Difference
Max Drawdown Largest peak-to-trough decline	-54.11%	-52.39%	-1.72%
Max Drawdown (1Y) Largest decline over 1 year	-11.06%	-12.41%	+1.35%
Max Drawdown (3Y) Largest decline over 3 years	-19.80%	-20.70%	+0.90%
Max Drawdown (5Y) Largest decline over 5 years	-26.47%	-28.02%	+1.55%
Max Drawdown (10Y) Largest decline over 10 years	-31.44%	-30.46%	-0.98%
Current Drawdown Current decline from peak	-0.94%	-1.44%	+0.50%
Average Drawdown Average peak-to-trough decline	-11.76%	-7.64%	-4.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.62%	3.30%	-0.68%

Volatility

OEF vs. XLG - Volatility Comparison

iShares S&P 100 ETF (OEF) and Invesco S&P 500 Top 50 ETF (XLG) have volatilities of 3.14% and 3.19%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OEF	XLG	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.14%	3.19%	-0.05%
Volatility (6M) Calculated over the trailing 6-month period	9.48%	9.80%	-0.32%
Volatility (1Y) Calculated over the trailing 1-year period	12.73%	13.33%	-0.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.69%	18.68%	-0.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.44%	18.84%	-0.40%

OEF vs. XLG - Expense Ratio Comparison

Both OEF and XLG have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

OEF vs. XLG - Dividend Comparison

OEF's dividend yield for the trailing twelve months is around 0.83%, more than XLG's 0.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OEF iShares S&P 100 ETF	0.83%	0.81%	1.03%	1.19%	1.55%	1.06%	1.43%	1.87%	2.09%	1.81%	2.07%	2.11%
XLG Invesco S&P 500 Top 50 ETF	0.60%	0.64%	0.72%	0.97%	1.34%	0.94%	1.25%	1.58%	2.00%	1.85%	2.00%	2.09%

Frequently Asked Questions

Can I hold both OEF and XLG in my portfolio?

With a correlation of 0.98, OEF and XLG move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, OEF or XLG?

XLG has higher volatility (3.19%) compared to OEF (3.14%). In terms of maximum drawdown, OEF dropped -54.11% vs XLG's -52.39%.

Which ETF is better, OEF or XLG?

On 10-year performance, XLG leads with 17.27% vs 16.71% for OEF. Both ETFs have the same 0.20% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OEF or XLG?

Over the 10-year period, XLG has performed better with a 17.27% return vs 16.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OEF or XLG?

OEF and XLG have the same expense ratio: 0.20% per year.

Which ETF pays a higher dividend yield, OEF or XLG?

OEF has the higher dividend yield at 0.83%, compared with 0.60% for XLG.

What is the main difference between OEF and XLG?

OEF is categorized as Large Cap Growth Equities, while XLG is S&P 500. OEF tracks S&P 100 Index, while XLG tracks S&P 500 Top 50 Index. They also come from different issuers: iShares and Invesco.

Which has better risk-adjusted returns?

OEF currently has the higher Sharpe Ratio (2.33 vs 2.15), 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.