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SHE vs. XJR
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SHE vs. XJR

Last updated Jun 24, 2026

SHE (SPDR SSGA Gender Diversity Index ETF) and XJR (iShares ESG Screened S&P Small-Cap ETF) are both exchange-traded funds - SHE is a Large Cap Growth Equities fund tracking the SSGA Gender Diversity (TR), while XJR is a Small Cap Blend Equities fund tracking the S&P SmallCap 600 Sustainability Screened Index. Both are passively managed. Over the past 5 years, SHE returned 10.14%/yr vs 6.15%/yr for XJR. A 0.78 correlation means they provide meaningful diversification when combined. SHE charges 0.20%/yr vs 0.12%/yr for XJR.

Performance

SHE vs. XJR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR SSGA Gender Diversity Index ETF (SHE) and iShares ESG Screened S&P Small-Cap ETF (XJR). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SHE achieves a 16.68% return, which is significantly lower than XJR's 19.44% return.

SHE

1D
-1.22%
1M
1.20%
YTD
16.68%
6M
16.31%
1Y
28.00%
3Y*
22.78%
5Y*
10.14%
10Y*
12.78%

XJR

1D
-0.38%
1M
4.96%
YTD
19.44%
6M
17.14%
1Y
32.21%
3Y*
16.10%
5Y*
6.15%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

SHE vs. XJR - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
SHE
SPDR SSGA Gender Diversity Index ETF		16.68%15.50%23.35%22.37%-21.73%15.17%22.01%
XJR
iShares ESG Screened S&P Small-Cap ETF		19.44%4.73%9.59%16.39%-17.30%24.96%35.61%

Correlation

The correlation between SHE and XJR is 0.74, 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

0.74

Correlation (3Y)
Calculated over the trailing 3-year period

0.73

Correlation (5Y)
Calculated over the trailing 5-year period

0.79

Correlation (All Time)
Calculated using the full available price history since Sep 24, 2020

0.78

The correlation between SHE and XJR has been stable across timeframes, ranging from 0.73 to 0.79 - a consistent structural relationship.

SHE vs. XJR - Sectors Allocation Comparison

Sectors
SHE
XJR

Technology

36.5%
16.8%

Financial Services

11.6%
18.2%

Consumer Cyclical

10.3%
13.5%

Communication Services

10.1%
2.5%

Healthcare

8.8%
10.7%

Industrials

8.0%
15.5%

Consumer Defensive

4.6%
2.7%

Energy

3.3%
4.7%

Utilities

2.9%
2.0%

Real Estate

1.9%
7.6%

Basic Materials

1.8%
4.5%

Technology

SHE
36.5%
XJR
16.8%

Financial Services

SHE
11.6%
XJR
18.2%

Consumer Cyclical

SHE
10.3%
XJR
13.5%

Communication Services

SHE
10.1%
XJR
2.5%

Healthcare

SHE
8.8%
XJR
10.7%

Industrials

SHE
8.0%
XJR
15.5%

Consumer Defensive

SHE
4.6%
XJR
2.7%

Energy

SHE
3.3%
XJR
4.7%

Utilities

SHE
2.9%
XJR
2.0%

Real Estate

SHE
1.9%
XJR
7.6%

Basic Materials

SHE
1.8%
XJR
4.5%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

SPDR SSGA Gender Diversity Index ETF

iShares ESG Screened S&P Small-Cap ETF

Often compared with SHE:
SHE vs. SPYSHE vs. VOOSHE vs. VEGNSHE vs. SCHXSHE vs. VTISHE vs. ESGVSHE vs. ^GSPC
Often compared with XJR:
XJR vs. XJHXJR vs. ESMLXJR vs. SMMDXJR vs. VLUXJR vs. ESIXXJR vs. IJRXJR vs. AVUV

Return for Risk

SHE vs. XJR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SHE
SHE Risk / Return Rank: 6969
Overall Rank
SHE Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
SHE Sortino Ratio Rank: 6868
Sortino Ratio Rank
SHE Omega Ratio Rank: 6464
Omega Ratio Rank
SHE Calmar Ratio Rank: 7070
Calmar Ratio Rank
SHE Martin Ratio Rank: 7373
Martin Ratio Rank
XJR
XJR Risk / Return Rank: 6161
Overall Rank
XJR Sharpe Ratio Rank: 5757
Sharpe Ratio Rank
XJR Sortino Ratio Rank: 6060
Sortino Ratio Rank
XJR Omega Ratio Rank: 5353
Omega Ratio Rank
XJR Calmar Ratio Rank: 7272
Calmar Ratio Rank
XJR Martin Ratio Rank: 6565
Martin Ratio Rank
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.

SHE vs. XJR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR SSGA Gender Diversity Index ETF (SHE) and iShares ESG Screened S&P Small-Cap ETF (XJR). 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.

SHEXJRDifference
Sharpe ratioReturn per unit of total volatility
2.09
1.80

+0.30

Sortino ratioReturn per unit of downside risk
2.92
2.63

+0.29

Omega ratioGain probability vs. loss probability

1.36

1.31

+0.05

Calmar ratioReturn relative to maximum drawdown

3.29

3.43

-0.14

Martin ratioReturn relative to average drawdown

12.91

11.11

+1.80

SHE vs. XJR - Sharpe Ratio Comparison

The current SHE Sharpe Ratio is 2.09, which is comparable to the XJR Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of SHE and XJR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

SHE vs. XJR - Drawdown Comparison

The maximum SHE drawdown since its inception was -35.80%, which is greater than XJR's maximum drawdown of -27.14%. Use the drawdown chart below to compare losses from any high point for SHE and XJR.

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Drawdown Indicators

SHEXJRDifference

Max Drawdown

Largest peak-to-trough decline

-35.80%

-27.14%

-8.66%

Max Drawdown (1Y)

Largest decline over 1 year

-8.54%

-9.43%

+0.89%

Max Drawdown (3Y)

Largest decline over 3 years

-17.07%

-27.14%

+10.07%

Max Drawdown (5Y)

Largest decline over 5 years

-31.69%

-27.14%

-4.55%

Max Drawdown (10Y)

Largest decline over 10 years

-35.80%

—

—

Current Drawdown

Current decline from peak

-2.98%

-0.38%

-2.60%

Average Drawdown

Average peak-to-trough decline

-6.28%

-9.39%

+3.11%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.17%

2.91%

-0.74%

Volatility

SHE vs. XJR - Volatility Comparison

SPDR SSGA Gender Diversity Index ETF (SHE) and iShares ESG Screened S&P Small-Cap ETF (XJR) have volatilities of 5.16% and 5.13%, 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

SHEXJRDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.16%

5.13%

+0.03%

Volatility (6M)

Calculated over the trailing 6-month period

11.03%

12.61%

-1.58%

Volatility (1Y)

Calculated over the trailing 1-year period

13.46%

18.03%

-4.57%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.31%

21.44%

-4.13%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.06%

21.70%

-3.64%

SHE vs. XJR - Expense Ratio Comparison

SHE has a 0.20% expense ratio, which is higher than XJR's 0.12% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SHE vs. XJR - Dividend Comparison

SHE's dividend yield for the trailing twelve months is around 1.09%, more than XJR's 0.96% yield.

PositionTTM2025202420232022202120202019201820172016
SHE
SPDR SSGA Gender Diversity Index ETF		1.09%1.18%1.14%1.37%1.54%0.99%1.24%1.91%7.39%5.37%6.41%
XJR
iShares ESG Screened S&P Small-Cap ETF		0.96%1.14%1.96%0.92%1.29%2.00%0.58%0.00%0.00%0.00%0.00%

Frequently Asked Questions

SHE and XJR have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SHE has higher volatility (5.16%) compared to XJR (5.13%). In terms of maximum drawdown, SHE dropped -35.80% vs XJR's -27.14%.

On 5-year performance, SHE leads with 10.14% vs 6.15% for XJR. On fees, XJR is cheaper at 0.12% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, SHE has performed better with a 10.14% return vs 6.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

XJR is cheaper with a 0.12% expense ratio, compared with 0.20% for SHE.

SHE has the higher dividend yield at 1.09%, compared with 0.96% for XJR.

SHE is categorized as Large Cap Growth Equities, while XJR is Small Cap Blend Equities. SHE tracks SSGA Gender Diversity (TR), while XJR tracks S&P SmallCap 600 Sustainability Screened Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.20% for SHE and 0.12% for XJR.

SHE currently has the higher Sharpe Ratio (2.09 vs 1.80), 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.

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