QQQI vs. XLI

Last updated Jun 14, 2026

QQQI (NEOS Nasdaq-100 High Income ETF) and XLI (Industrial Select Sector SPDR Fund) are both exchange-traded funds - QQQI is a Nasdaq-100 fund actively managed by Neos, while XLI is a Industrials Equities fund tracking the Industrial Select Sector Index. QQQI is actively managed, while XLI is passively managed. Over the past year, QQQI returned 27.00% vs 25.17% for XLI. A 0.60 correlation means they provide meaningful diversification when combined. QQQI charges 0.68%/yr vs 0.08%/yr for XLI.

Performance

QQQI vs. XLI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NEOS Nasdaq-100 High Income ETF (QQQI) 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, QQQI achieves a 10.58% return, which is significantly lower than XLI's 13.90% return.

QQQI

• 1D: 0.70%
• 1M: 0.70%
• YTD: 10.58%
• 6M: 11.20%
• 1Y: 27.00%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XLI

• 1D: 0.59%
• 1M: 2.79%
• YTD: 13.90%
• 6M: 13.10%
• 1Y: 25.17%
• 3Y*: 20.87%
• 5Y*: 12.93%
• 10Y*: 14.15%

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

QQQI vs. XLI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QQQI NEOS Nasdaq-100 High Income ETF	10.58%	18.62%	19.44%
XLI Industrial Select Sector SPDR Fund	13.90%	19.35%	17.13%

Correlation

The correlation between QQQI and XLI is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.55
Correlation (All Time) Calculated using the full available price history since Jan 30, 2024	0.60

The correlation between QQQI and XLI has been stable across timeframes, ranging from 0.55 to 0.60 - a consistent structural relationship.

QQQI vs. XLI - Sectors Allocation Comparison

Sectors	QQQI	XLI
Technology	58.1%	3.8%
Communication Services	14.2%	-
Consumer Cyclical	11.3%	0.5%
Consumer Defensive	6.5%	-
Healthcare	3.9%	-
Industrials	3.0%	90.9%
Utilities	1.3%	4.8%
Basic Materials	1.0%	-
Energy	0.5%	-
Financial Services	0.2%	-
Real Estate	0.1%	-

Return for Risk

QQQI vs. XLI — Risk / Return Rank

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

QQQI

QQQI Risk / Return Rank: 65
QQQI Sharpe Ratio Rank: 65
QQQI Sortino Ratio Rank: 59
QQQI Omega Ratio Rank: 67
QQQI Calmar Ratio Rank: 62
QQQI Martin Ratio Rank: 72

XLI

XLI Risk / Return Rank: 48
XLI Sharpe Ratio Rank: 49
XLI Sortino Ratio Rank: 50
XLI Omega Ratio Rank: 46
XLI Calmar Ratio Rank: 45
XLI Martin Ratio Rank: 52

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.

QQQI vs. XLI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NEOS Nasdaq-100 High Income ETF (QQQI) 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.

	QQQI	XLI	Difference
Sharpe ratio: Return per unit of total volatility	1.84	1.50	+0.34
Sortino ratio: Return per unit of downside risk	2.43	2.17	+0.26
Omega ratio: Gain probability vs. loss probability	1.34	1.26	+0.08
Calmar ratio: Return relative to maximum drawdown	2.70	1.98	+0.72
Martin ratio: Return relative to average drawdown	11.63	7.82	+3.81

QQQI vs. XLI - Sharpe Ratio Comparison

The current QQQI Sharpe Ratio is 1.84, which is comparable to the XLI Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of QQQI 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

QQQI vs. XLI - Drawdown Comparison

The maximum QQQI drawdown since its inception was -20.00%, smaller than the maximum XLI drawdown of -62.26%. Use the drawdown chart below to compare losses from any high point for QQQI and XLI.

Drawdown Indicators

	QQQI	XLI	Difference
Max Drawdown Largest peak-to-trough decline	-20.00%	-62.26%	+42.26%
Max Drawdown (1Y) Largest decline over 1 year	-9.61%	-12.21%	+2.60%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.49%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-21.64%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-42.33%	—
Current Drawdown Current decline from peak	-2.69%	-1.24%	-1.45%
Average Drawdown Average peak-to-trough decline	-2.21%	-9.20%	+6.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.23%	3.09%	-0.86%

Volatility

QQQI vs. XLI - Volatility Comparison

NEOS Nasdaq-100 High Income ETF (QQQI) and Industrial Select Sector SPDR Fund (XLI) have volatilities of 6.10% and 6.22%, 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

	QQQI	XLI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.10%	6.22%	-0.12%
Volatility (6M) Calculated over the trailing 6-month period	11.35%	13.59%	-2.24%
Volatility (1Y) Calculated over the trailing 1-year period	14.10%	16.17%	-2.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.34%	17.55%	-0.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.34%	20.04%	-2.70%

QQQI vs. XLI - Expense Ratio Comparison

QQQI has a 0.68% expense ratio, which is higher than XLI's 0.08% expense ratio.

Dividends

QQQI vs. XLI - Dividend Comparison

QQQI's dividend yield for the trailing twelve months is around 13.53%, more than XLI's 1.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QQQI NEOS Nasdaq-100 High Income ETF	13.53%	13.82%	12.85%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XLI Industrial Select Sector SPDR Fund	1.16%	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 QQQI and XLI in my portfolio?

QQQI and XLI have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQQI or XLI?

XLI has higher volatility (6.22%) compared to QQQI (6.10%). In terms of maximum drawdown, QQQI dropped -20.00% vs XLI's -62.26%.

Which ETF is better, QQQI or XLI?

On 1-year performance, QQQI leads with 27.00% vs 25.17% for XLI. On fees, XLI is cheaper at 0.08% per year. On volatility, QQQI has been the lower-risk option at 6.10%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQQI or XLI?

Over the 1-year period, QQQI has performed better with a 27.00% return vs 25.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQQI or XLI?

XLI is cheaper with a 0.08% expense ratio, compared with 0.68% for QQQI.

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

QQQI has the higher dividend yield at 13.53%, compared with 1.16% for XLI.

What is the main difference between QQQI and XLI?

QQQI is categorized as Nasdaq-100, while XLI is Industrials Equities. They also come from different issuers: Neos and State Street. Their fees differ too: 0.68% for QQQI and 0.08% for XLI.

Which has better risk-adjusted returns?

QQQI currently has the higher Sharpe Ratio (1.84 vs 1.50), 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.