SEPZ vs. XLRI

Last updated Jul 14, 2026

SEPZ (TrueShares Structured Outcome (September) ETF) and XLRI (State Street Real Estate Select Sector SPDR Premium Income ETF) are both exchange-traded funds - SEPZ is a Options Trading fund tracking the Cboe S&P 500 Buffer Protect Index September, while XLRI is a Derivative Income fund actively managed by State Street. SEPZ is passively managed, while XLRI is actively managed. At a 0.19 correlation, their price movements are largely independent. SEPZ charges 0.80%/yr vs 0.35%/yr for XLRI.

Performance

SEPZ vs. XLRI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TrueShares Structured Outcome (September) ETF (SEPZ) and State Street Real Estate Select Sector SPDR Premium Income ETF (XLRI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with SEPZ having a 7.55% return and XLRI slightly lower at 7.28%.

SEPZ

• 1D: -0.66%
• 1M: 0.81%
• 6M: 6.02%
• YTD: 7.55%
• 1Y: 15.85%
• 3Y*: 14.75%
• 5Y*: 10.75%
• 10Y*: —

XLRI

• 1D: 0.45%
• 1M: -0.01%
• 6M: 6.59%
• YTD: 7.28%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SEPZ vs. XLRI - Yearly Performance Comparison

	2026 (YTD)	2025
SEPZ TrueShares Structured Outcome (September) ETF	7.55%	6.60%
XLRI State Street Real Estate Select Sector SPDR Premium Income ETF	7.28%	-0.57%

Correlation

The correlation between SEPZ and XLRI is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 30, 2025	0.19

Return for Risk

SEPZ vs. XLRI — Risk / Return Rank

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

SEPZ

SEPZ Risk / Return Rank: 56
SEPZ Sharpe Ratio Rank: 55
SEPZ Sortino Ratio Rank: 56
SEPZ Omega Ratio Rank: 52
SEPZ Calmar Ratio Rank: 55
SEPZ Martin Ratio Rank: 64

XLRI

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

SEPZ vs. XLRI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrueShares Structured Outcome (September) ETF (SEPZ) and State Street Real Estate Select Sector SPDR Premium Income ETF (XLRI). 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.

	SEPZ	XLRI	Difference
Sharpe ratio: Return per unit of total volatility	1.48	—	—
Sortino ratio: Return per unit of downside risk	2.14	—	—
Omega ratio: Gain probability vs. loss probability	1.26	—	—
Calmar ratio: Return relative to maximum drawdown	2.18	—	—
Martin ratio: Return relative to average drawdown	9.05	—	—

Drawdowns

SEPZ vs. XLRI - Drawdown Comparison

The maximum SEPZ drawdown since its inception was -15.22%, which is greater than XLRI's maximum drawdown of -7.12%. Use the drawdown chart below to compare losses from any high point for SEPZ and XLRI.

Drawdown Indicators

	SEPZ	XLRI	Difference
Max Drawdown Largest peak-to-trough decline	-15.22%	-7.12%	-8.10%
Max Drawdown (1Y) Largest decline over 1 year	-7.30%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-14.57%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-15.22%	—	—
Current Drawdown Current decline from peak	-1.45%	-0.51%	-0.94%
Average Drawdown Average peak-to-trough decline	-2.83%	-1.61%	-1.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.75%	—	—

Volatility

Volatility by Period

	SEPZ	XLRI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.96%	—	—
Volatility (6M) Calculated over the trailing 6-month period	8.43%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	10.75%	11.21%	-0.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.42%	11.21%	+1.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.49%	11.21%	+1.28%

SEPZ vs. XLRI - Expense Ratio Comparison

SEPZ has a 0.80% expense ratio, which is higher than XLRI's 0.35% expense ratio.

Dividends

SEPZ vs. XLRI - Dividend Comparison

SEPZ's dividend yield for the trailing twelve months is around 2.04%, less than XLRI's 13.67% yield.

Position	TTM	2025	2024	2023	2022	2021
SEPZ TrueShares Structured Outcome (September) ETF	2.04%	2.20%	3.62%	3.55%	0.69%	0.05%
XLRI State Street Real Estate Select Sector SPDR Premium Income ETF	13.67%	6.85%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SEPZ and XLRI in my portfolio?

SEPZ and XLRI have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SEPZ or XLRI?

On fees, XLRI is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SEPZ or XLRI?

XLRI is cheaper with a 0.35% expense ratio, compared with 0.80% for SEPZ.

Which ETF pays a higher dividend yield, SEPZ or XLRI?

XLRI has the higher dividend yield at 13.67%, compared with 2.04% for SEPZ.

What is the main difference between SEPZ and XLRI?

SEPZ is categorized as Options Trading, while XLRI is Derivative Income. They also come from different issuers: TrueShares and State Street. Their fees differ too: 0.80% for SEPZ and 0.35% for XLRI.