SHDG vs. XLRI

Last updated Jun 21, 2026

SHDG (Soundwatch Hedged Equity ETF) and XLRI (State Street Real Estate Select Sector SPDR Premium Income ETF) are both exchange-traded funds - SHDG is a Options Trading fund actively managed by SoundWatch Capital, while XLRI is a Derivative Income fund actively managed by State Street. Both are actively managed. At a 0.27 correlation, their price movements are largely independent. SHDG charges 0.53%/yr vs 0.35%/yr for XLRI.

Performance

SHDG vs. XLRI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Soundwatch Hedged Equity ETF (SHDG) 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

In the year-to-date period, SHDG achieves a 1.13% return, which is significantly lower than XLRI's 4.25% return.

SHDG

• 1D: 0.09%
• 1M: 0.56%
• YTD: 1.13%
• 6M: 1.53%
• 1Y: 11.99%
• 3Y*: 11.95%
• 5Y*: —
• 10Y*: —

XLRI

• 1D: -0.23%
• 1M: -1.10%
• YTD: 4.25%
• 6M: 5.50%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SHDG vs. XLRI - Yearly Performance Comparison

	2026 (YTD)	2025
SHDG Soundwatch Hedged Equity ETF	1.13%	6.47%
XLRI State Street Real Estate Select Sector SPDR Premium Income ETF	4.25%	-0.57%

Correlation

The correlation between SHDG and XLRI is 0.27, 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	0.27

Return for Risk

SHDG vs. XLRI — Risk / Return Rank

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

SHDG

SHDG Risk / Return Rank: 44
SHDG Sharpe Ratio Rank: 47
SHDG Sortino Ratio Rank: 44
SHDG Omega Ratio Rank: 50
SHDG Calmar Ratio Rank: 37
SHDG Martin Ratio Rank: 43

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.

SHDG vs. XLRI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Soundwatch Hedged Equity ETF (SHDG) 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.

	SHDG	XLRI	Difference
Sharpe ratio: Return per unit of total volatility	1.56	—	—
Sortino ratio: Return per unit of downside risk	2.15	—	—
Omega ratio: Gain probability vs. loss probability	1.30	—	—
Calmar ratio: Return relative to maximum drawdown	1.81	—	—
Martin ratio: Return relative to average drawdown	6.70	—	—

Drawdowns

SHDG vs. XLRI - Drawdown Comparison

The maximum SHDG drawdown since its inception was -15.82%, which is greater than XLRI's maximum drawdown of -7.12%. Use the drawdown chart below to compare losses from any high point for SHDG and XLRI.

Drawdown Indicators

	SHDG	XLRI	Difference
Max Drawdown Largest peak-to-trough decline	-15.82%	-7.12%	-8.70%
Max Drawdown (1Y) Largest decline over 1 year	-6.62%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-15.82%	—	—
Current Drawdown Current decline from peak	-0.50%	-2.84%	+2.34%
Average Drawdown Average peak-to-trough decline	-1.72%	-1.65%	-0.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.79%	—	—

Volatility

Volatility by Period

	SHDG	XLRI	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.66%	—	—
Volatility (6M) Calculated over the trailing 6-month period	5.54%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	7.69%	10.90%	-3.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.92%	10.90%	+0.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.92%	10.90%	+0.02%

SHDG vs. XLRI - Expense Ratio Comparison

SHDG has a 0.53% expense ratio, which is higher than XLRI's 0.35% expense ratio.

Dividends

SHDG vs. XLRI - Dividend Comparison

SHDG's dividend yield for the trailing twelve months is around 0.49%, less than XLRI's 12.52% yield.

Position	TTM	2025	2024	2023	2022
SHDG Soundwatch Hedged Equity ETF	0.49%	0.49%	0.62%	1.24%	0.90%
XLRI State Street Real Estate Select Sector SPDR Premium Income ETF	12.52%	6.85%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SHDG and XLRI in my portfolio?

SHDG and XLRI have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SHDG 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, SHDG or XLRI?

XLRI is cheaper with a 0.35% expense ratio, compared with 0.53% for SHDG.

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

XLRI has the higher dividend yield at 12.52%, compared with 0.49% for SHDG.

What is the main difference between SHDG and XLRI?

SHDG is categorized as Options Trading, while XLRI is Derivative Income. They also come from different issuers: SoundWatch Capital and State Street. Their fees differ too: 0.53% for SHDG and 0.35% for XLRI.