SEF vs. XLF
Compare and contrast key facts about ProShares Short Financials (SEF) and Financial Select Sector SPDR Fund (XLF).
SEF and XLF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SEF is a passively managed fund by ProShares that tracks the performance of the Dow Jones U.S. Financials Index (-100%). It was launched on Jun 12, 2008. XLF is a passively managed fund by State Street that tracks the performance of the Financial Select Sector Index. It was launched on Dec 16, 1998. Both SEF and XLF are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
SEF vs. XLF - Performance Comparison
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SEF vs. XLF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SEF ProShares Short Financials | 11.27% | -9.82% | -17.81% | -8.81% | 11.85% | -27.02% | -16.93% | -23.51% | 10.34% | -17.12% |
XLF Financial Select Sector SPDR Fund | -9.40% | 14.90% | 30.56% | 12.03% | -10.59% | 34.80% | -1.74% | 31.88% | -13.06% | 22.00% |
Returns By Period
In the year-to-date period, SEF achieves a 11.27% return, which is significantly higher than XLF's -9.40% return. Over the past 10 years, SEF has underperformed XLF with an annualized return of -11.67%, while XLF has yielded a comparatively higher 12.44% annualized return.
SEF
- 1D
- -2.13%
- 1M
- 3.96%
- YTD
- 11.27%
- 6M
- 10.38%
- 1Y
- 2.76%
- 3Y*
- -10.01%
- 5Y*
- -6.70%
- 10Y*
- -11.67%
XLF
- 1D
- 2.09%
- 1M
- -3.51%
- YTD
- -9.40%
- 6M
- -7.56%
- 1Y
- 0.65%
- 3Y*
- 17.25%
- 5Y*
- 9.34%
- 10Y*
- 12.44%
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SEF vs. XLF - Expense Ratio Comparison
SEF has a 0.95% expense ratio, which is higher than XLF's 0.13% expense ratio.
Return for Risk
SEF vs. XLF — Risk / Return Rank
SEF
XLF
SEF vs. XLF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short Financials (SEF) and Financial Select Sector SPDR Fund (XLF). 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.
| SEF | XLF | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.14 | 0.03 | +0.11 |
Sortino ratioReturn per unit of downside risk | 0.36 | 0.18 | +0.19 |
Omega ratioGain probability vs. loss probability | 1.05 | 1.02 | +0.02 |
Calmar ratioReturn relative to maximum drawdown | 0.08 | 0.13 | -0.05 |
Martin ratioReturn relative to average drawdown | 0.11 | 0.38 | -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. | |||
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Sharpe Ratios by Period
| SEF | XLF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.14 | 0.03 | +0.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.37 | 0.50 | -0.88 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.57 | 0.56 | -1.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.49 | 0.20 | -0.69 |
Correlation
The correlation between SEF and XLF is -0.97. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
SEF vs. XLF - Dividend Comparison
SEF's dividend yield for the trailing twelve months is around 3.27%, more than XLF's 1.60% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SEF ProShares Short Financials | 3.27% | 4.33% | 5.72% | 4.43% | 0.39% | 0.00% | 0.12% | 1.25% | 0.41% | 0.00% | 0.00% | 0.00% |
XLF Financial Select Sector SPDR Fund | 1.60% | 1.31% | 1.42% | 1.71% | 2.04% | 1.63% | 2.03% | 1.87% | 2.08% | 1.48% | 21.10% | 1.95% |
Drawdowns
SEF vs. XLF - Drawdown Comparison
The maximum SEF drawdown since its inception was -96.51%, which is greater than XLF's maximum drawdown of -82.69%. Use the drawdown chart below to compare losses from any high point for SEF and XLF.
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Drawdown Indicators
| SEF | XLF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.51% | -82.69% | -13.82% |
Max Drawdown (1Y)Largest decline over 1 year | -20.21% | -14.79% | -5.42% |
Max Drawdown (5Y)Largest decline over 5 years | -41.62% | -25.81% | -15.81% |
Max Drawdown (10Y)Largest decline over 10 years | -75.66% | -42.86% | -32.80% |
Current DrawdownCurrent decline from peak | -96.00% | -12.01% | -83.99% |
Average DrawdownAverage peak-to-trough decline | -82.58% | -20.10% | -62.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.44% | 4.90% | +9.54% |
Volatility
SEF vs. XLF - Volatility Comparison
ProShares Short Financials (SEF) and Financial Select Sector SPDR Fund (XLF) have volatilities of 4.86% and 4.75%, 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.
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Volatility by Period
| SEF | XLF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.86% | 4.75% | +0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 11.37% | 11.45% | -0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.28% | 19.29% | -0.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.99% | 18.69% | -0.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.55% | 22.19% | -1.64% |