PANL vs. XLI

Last updated Jun 3, 2026

PANL (Pangaea Logistics Solutions, Ltd.) is a stock, while XLI (Industrial Select Sector SPDR Fund) is Industrials Equities fund tracking the Industrial Select Sector Index. Over the past 10 years, PANL returned 15.99%/yr vs 14.00%/yr for XLI. At a 0.23 correlation, their price movements are largely independent.

Performance

PANL vs. XLI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pangaea Logistics Solutions, Ltd. (PANL) and Industrial Select Sector SPDR Fund (XLI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PANL achieves a 16.22% return, which is significantly higher than XLI's 12.61% return. Over the past 10 years, PANL has outperformed XLI with an annualized return of 15.99%, while XLI has yielded a comparatively lower 14.00% annualized return.

PANL

• 1D: 3.40%
• 1M: 3.01%
• YTD: 16.22%
• 6M: 14.72%
• 1Y: 85.60%
• 3Y*: 14.33%
• 5Y*: 20.53%
• 10Y*: 15.99%

XLI

• 1D: 1.04%
• 1M: 0.71%
• YTD: 12.61%
• 6M: 14.74%
• 1Y: 23.76%
• 3Y*: 21.75%
• 5Y*: 12.35%
• 10Y*: 14.00%

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

PANL vs. XLI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PANL Pangaea Logistics Solutions, Ltd.	16.22%	34.57%	-31.14%	70.59%	44.19%	40.77%	-6.10%	0.50%	-17.66%	8.24%
XLI Industrial Select Sector SPDR Fund	12.61%	19.35%	17.31%	18.13%	-5.57%	21.08%	10.91%	29.08%	-13.25%	23.98%

Correlation

The correlation between PANL and XLI is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (10Y) Calculated over the trailing 10-year period	0.25
Correlation (All Time) Calculated using the full available price history since Dec 20, 2013	0.23

The correlation between PANL and XLI shifts across timeframes, from 0.23 (all time) to 0.35 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

PANL vs. XLI — Risk / Return Rank

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

PANL

PANL Risk / Return Rank: 82
PANL Sharpe Ratio Rank: 85
PANL Sortino Ratio Rank: 83
PANL Omega Ratio Rank: 81
PANL Calmar Ratio Rank: 82
PANL Martin Ratio Rank: 81

XLI

XLI Risk / Return Rank: 43
XLI Sharpe Ratio Rank: 44
XLI Sortino Ratio Rank: 45
XLI Omega Ratio Rank: 41
XLI Calmar Ratio Rank: 39
XLI Martin Ratio Rank: 46

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.

PANL vs. XLI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pangaea Logistics Solutions, Ltd. (PANL) 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.

	PANL	XLI	Difference
Sharpe ratio Return per unit of total volatility	1.76	1.55	+0.21
Sortino ratio Return per unit of downside risk	2.56	2.27	+0.29
Omega ratio Gain probability vs. loss probability	1.32	1.27	+0.05
Calmar ratio Return relative to maximum drawdown	3.00	1.93	+1.06
Martin ratio Return relative to average drawdown	7.42	7.70	-0.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PANL vs. XLI - Sharpe Ratio Comparison

The current PANL Sharpe Ratio is 1.76, which is comparable to the XLI Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of PANL and XLI, 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

	PANL	XLI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.76	1.55	+0.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.44	0.71	-0.27
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.29	0.70	-0.41
Sharpe Ratio (All Time) Calculated using the full available price history	0.02	0.45	-0.44

Drawdowns

PANL vs. XLI - Drawdown Comparison

The maximum PANL drawdown since its inception was -83.44%, which is greater than XLI's maximum drawdown of -62.26%. Use the drawdown chart below to compare losses from any high point for PANL and XLI.

Drawdown Indicators

	PANL	XLI	Difference
Max Drawdown Largest peak-to-trough decline	-83.44%	-62.26%	-21.18%
Max Drawdown (1Y) Largest decline over 1 year	-27.59%	-12.21%	-15.38%
Max Drawdown (3Y) Largest decline over 3 years	-54.76%	-18.49%	-36.27%
Max Drawdown (5Y) Largest decline over 5 years	-54.76%	-21.64%	-33.12%
Max Drawdown (10Y) Largest decline over 10 years	-65.73%	-42.33%	-23.40%
Current Drawdown Current decline from peak	-14.95%	-2.36%	-12.59%
Average Drawdown Average peak-to-trough decline	-51.18%	-9.21%	-41.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.14%	3.07%	+8.07%

Volatility

PANL vs. XLI - Volatility Comparison

Pangaea Logistics Solutions, Ltd. (PANL) has a higher volatility of 18.23% compared to Industrial Select Sector SPDR Fund (XLI) at 4.96%. This indicates that PANL'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.

Volatility by Period

	PANL	XLI	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.23%	4.96%	+13.27%
Volatility (6M) Calculated over the trailing 6-month period	37.45%	12.88%	+24.57%
Volatility (1Y) Calculated over the trailing 1-year period	48.97%	15.38%	+33.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	46.80%	17.42%	+29.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	54.72%	19.99%	+34.73%

Dividends

PANL vs. XLI - Dividend Comparison

PANL's dividend yield for the trailing twelve months is around 2.53%, more than XLI's 1.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PANL Pangaea Logistics Solutions, Ltd.	2.53%	3.63%	7.46%	4.85%	5.83%	3.31%	0.00%	3.56%	0.00%	0.00%	0.00%	0.00%
XLI Industrial Select Sector SPDR Fund	1.17%	1.29%	1.44%	1.63%	1.63%	1.25%	1.55%	1.94%	2.15%	1.77%	2.07%	2.15%

Frequently Asked Questions

Can I hold both PANL and XLI in my portfolio?

PANL and XLI have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PANL or XLI?

PANL has higher volatility (18.23%) compared to XLI (4.96%). In terms of maximum drawdown, PANL dropped -83.44% vs XLI's -62.26%.

Which has better risk-adjusted returns?

PANL currently has the higher Sharpe Ratio (1.76 vs 1.55), 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.