PRN vs. XLI

Last updated Jun 23, 2026

PRN (Invesco DWA Industrials Momentum ETF) and XLI (Industrial Select Sector SPDR Fund) are both exchange-traded funds - PRN is a Momentum fund tracking the DWA Industrials Technical Leaders Index, while XLI is a Industrials Equities fund tracking the Industrial Select Sector Index. Both are passively managed. Over the past 10 years, PRN returned 19.46%/yr vs 14.79%/yr for XLI. Their correlation of 0.84 suggests significant overlap in exposure. PRN charges 0.60%/yr vs 0.08%/yr for XLI.

Performance

PRN vs. XLI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco DWA Industrials Momentum ETF (PRN) 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, PRN achieves a 50.44% return, which is significantly higher than XLI's 17.82% return. Over the past 10 years, PRN has outperformed XLI with an annualized return of 19.46%, while XLI has yielded a comparatively lower 14.79% annualized return.

PRN

• 1D: 2.86%
• 1M: 10.92%
• YTD: 50.44%
• 6M: 44.68%
• 1Y: 74.79%
• 3Y*: 37.93%
• 5Y*: 21.85%
• 10Y*: 19.46%

XLI

• 1D: 0.74%
• 1M: 6.10%
• YTD: 17.82%
• 6M: 16.37%
• 1Y: 29.73%
• 3Y*: 22.49%
• 5Y*: 14.10%
• 10Y*: 14.79%

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

PRN vs. XLI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PRN Invesco DWA Industrials Momentum ETF	50.44%	13.74%	30.35%	37.96%	-25.09%	25.21%	36.39%	34.52%	-16.19%	22.82%
XLI Industrial Select Sector SPDR Fund	17.82%	19.35%	17.31%	18.13%	-5.57%	21.08%	10.91%	29.08%	-13.25%	23.98%

Correlation

The correlation between PRN and XLI is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.82
Correlation (All Time) Calculated using the full available price history since Oct 12, 2006	0.84

The correlation between PRN and XLI has been stable across timeframes, ranging from 0.81 to 0.87 - a consistent structural relationship.

PRN vs. XLI - Sectors Allocation Comparison

Sectors	PRN	XLI
Industrials	78.2%	91.2%
Technology	20.4%	3.7%
Basic Materials	1.8%	-
Energy	1.6%	-
Consumer Cyclical	1.2%	0.5%
Financial Services	0.1%	-
Communication Services	-	-
Consumer Defensive	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	4.5%

Return for Risk

PRN vs. XLI — Risk / Return Rank

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

PRN

PRN Risk / Return Rank: 79
PRN Sharpe Ratio Rank: 81
PRN Sortino Ratio Rank: 69
PRN Omega Ratio Rank: 69
PRN Calmar Ratio Rank: 90
PRN Martin Ratio Rank: 86

XLI

XLI Risk / Return Rank: 54
XLI Sharpe Ratio Rank: 57
XLI Sortino Ratio Rank: 56
XLI Omega Ratio Rank: 52
XLI Calmar Ratio Rank: 51
XLI Martin Ratio Rank: 57

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.

PRN vs. XLI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco DWA Industrials Momentum ETF (PRN) 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.

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.

	PRN	XLI	Difference
Sharpe ratio: Return per unit of total volatility	2.49	1.84	+0.64
Sortino ratio: Return per unit of downside risk	3.03	2.61	+0.42
Omega ratio: Gain probability vs. loss probability	1.39	1.32	+0.08
Calmar ratio: Return relative to maximum drawdown	5.31	2.45	+2.87
Martin ratio: Return relative to average drawdown	17.44	9.64	+7.80

PRN vs. XLI - Sharpe Ratio Comparison

The current PRN Sharpe Ratio is 2.49, which is higher than the XLI Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of PRN 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.

Drawdowns

PRN vs. XLI - Drawdown Comparison

The maximum PRN drawdown since its inception was -59.88%, roughly equal to the maximum XLI drawdown of -62.26%. Use the drawdown chart below to compare losses from any high point for PRN and XLI.

Drawdown Indicators

	PRN	XLI	Difference
Max Drawdown Largest peak-to-trough decline	-59.88%	-62.26%	+2.38%
Max Drawdown (1Y) Largest decline over 1 year	-14.15%	-12.21%	-1.94%
Max Drawdown (3Y) Largest decline over 3 years	-30.78%	-18.49%	-12.29%
Max Drawdown (5Y) Largest decline over 5 years	-34.84%	-21.64%	-13.20%
Max Drawdown (10Y) Largest decline over 10 years	-36.27%	-42.33%	+6.06%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-10.82%	-9.19%	-1.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.30%	3.09%	+1.21%

Volatility

PRN vs. XLI - Volatility Comparison

Invesco DWA Industrials Momentum ETF (PRN) has a higher volatility of 11.27% compared to Industrial Select Sector SPDR Fund (XLI) at 5.80%. This indicates that PRN'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

	PRN	XLI	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.27%	5.80%	+5.47%
Volatility (6M) Calculated over the trailing 6-month period	24.13%	13.50%	+10.63%
Volatility (1Y) Calculated over the trailing 1-year period	30.29%	16.22%	+14.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.36%	17.53%	+7.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.37%	20.05%	+4.32%

PRN vs. XLI - Expense Ratio Comparison

PRN has a 0.60% expense ratio, which is higher than XLI's 0.08% expense ratio.

Dividends

PRN vs. XLI - Dividend Comparison

PRN's dividend yield for the trailing twelve months is around 0.11%, less than XLI's 1.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PRN Invesco DWA Industrials Momentum ETF	0.11%	0.17%	0.39%	0.52%	0.82%	0.11%	0.10%	0.42%	0.29%	0.60%	0.57%	0.44%
XLI Industrial Select Sector SPDR Fund	1.37%	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 PRN and XLI in my portfolio?

PRN and XLI have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PRN or XLI?

PRN has higher volatility (11.27%) compared to XLI (5.80%). In terms of maximum drawdown, PRN dropped -59.88% vs XLI's -62.26%.

Which ETF is better, PRN or XLI?

On 10-year performance, PRN leads with 19.46% vs 14.79% for XLI. On fees, XLI is cheaper at 0.08% per year. On volatility, XLI has been the lower-risk option at 5.80%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PRN or XLI?

Over the 10-year period, PRN has performed better with a 19.46% return vs 14.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PRN or XLI?

XLI is cheaper with a 0.08% expense ratio, compared with 0.60% for PRN.

Which ETF pays a higher dividend yield, PRN or XLI?

XLI has the higher dividend yield at 1.37%, compared with 0.11% for PRN.

What is the main difference between PRN and XLI?

PRN is categorized as Momentum, while XLI is Industrials Equities. PRN tracks DWA Industrials Technical Leaders Index, while XLI tracks Industrial Select Sector Index. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.60% for PRN and 0.08% for XLI.

Which has better risk-adjusted returns?

PRN currently has the higher Sharpe Ratio (2.49 vs 1.84), 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.