SHDG vs. XLRI

Last updated Aug 5, 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. Over the past year, SHDG returned 10.89% vs 9.61% for XLRI. Their 0.20 correlation means their historical movements had little consistent relationship. 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 3.73% return, which is significantly lower than XLRI's 8.24% return.

SHDG

• 1D: 1.20%
• 1M: 2.60%
• 6M: 2.72%
• YTD: 3.73%
• 1Y: 10.89%
• 3Y*: 12.35%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.57%

XLRI

• 1D: 0.30%
• 1M: 1.15%
• 6M: 6.94%
• YTD: 8.24%
• 1Y: 9.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.52%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SHDG Soundwatch Hedged Equity ETF	$64.49K	$89.27K	$138.51K
XLRI State Street Real Estate Select Sector SPDR Premium Income ETF	$73.67K	$70.90K	$65.83K

SHDG vs. XLRI - Yearly Performance Comparison

	2026 (YTD)	2025
SHDG Soundwatch Hedged Equity ETF	3.73%	6.47%
XLRI State Street Real Estate Select Sector SPDR Premium Income ETF	8.24%	-0.57%

Correlation

The correlation between SHDG and XLRI is 0.19, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.19
Correlation (All Time) Calculated using the full available price history since Jul 30, 2025	0.20

Return for Risk

SHDG vs. XLRI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SHDG

SHDG Risk / Return Rank: 46
SHDG Sharpe Ratio Rank: 48
SHDG Sortino Ratio Rank: 46
SHDG Omega Ratio Rank: 50
SHDG Calmar Ratio Rank: 41
SHDG Martin Ratio Rank: 47

XLRI

XLRI Risk / Return Rank: 33
XLRI Sharpe Ratio Rank: 32
XLRI Sortino Ratio Rank: 29
XLRI Omega Ratio Rank: 30
XLRI Calmar Ratio Rank: 35
XLRI Martin Ratio Rank: 40

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

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	1.37	0.88	+0.49
Sortino ratio: Return per unit of downside risk	1.92	1.24	+0.68
Omega ratio: Gain probability vs. loss probability	1.26	1.16	+0.10
Calmar ratio: Return relative to maximum drawdown	1.65	1.36	+0.30
Martin ratio: Return relative to average drawdown	6.04	4.74	+1.30

SHDG vs. XLRI - Sharpe Ratio Comparison

The current SHDG Sharpe Ratio is 1.37, which is higher than the XLRI Sharpe Ratio of 0.88. The chart below compares the historical Sharpe Ratios of SHDG and XLRI, 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

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%	-7.12%	+0.50%
Max Drawdown (3Y) Largest decline over 3 years	-15.82%	—	—
Current Drawdown Current decline from peak	0.00%	-0.81%	+0.81%
Average Drawdown Average peak-to-trough decline	-1.69%	-1.54%	-0.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.81%	2.03%	-0.22%

Volatility

SHDG vs. XLRI - Volatility Comparison

Soundwatch Hedged Equity ETF (SHDG) and State Street Real Estate Select Sector SPDR Premium Income ETF (XLRI) have volatilities of 3.11% and 3.22%, 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

	SHDG	XLRI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.11%	3.22%	-0.11%
Volatility (6M) Calculated over the trailing 6-month period	5.63%	8.71%	-3.08%
Volatility (1Y) Calculated over the trailing 1-year period	8.08%	11.00%	-2.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.86%	11.08%	-0.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.86%	11.08%	-0.22%

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 0.48%, less than XLRI's 14.33% yield.

Position	TTM	2025	2024	2023	2022
SHDG Soundwatch Hedged Equity ETF	0.48%	0.49%	0.62%	1.24%	0.90%
XLRI State Street Real Estate Select Sector SPDR Premium Income ETF	14.33%	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 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SHDG or XLRI?

XLRI has higher volatility (3.22%) compared to SHDG (3.11%). In terms of maximum drawdown, SHDG dropped -15.82% vs XLRI's -7.12%.

Which ETF is better, SHDG or XLRI?

On 1-year performance, SHDG leads with 10.89% vs 9.61% for XLRI. On fees, XLRI is cheaper at 0.35% per year. On volatility, SHDG has been the lower-risk option at 3.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SHDG or XLRI?

Over the 1-year period, SHDG has performed better with a 10.89% return vs 9.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

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 14.33%, compared with 0.48% 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.

Which has better risk-adjusted returns?

SHDG currently has the higher Sharpe Ratio (1.37 vs 0.88), 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.