SPXD vs. CA

Last updated Jun 6, 2026

SPXD (Xtrackers S&P 500 Diversified Sector Weight ETF) and CA (Xtrackers California Municipal Bond ETF) are both exchange-traded funds - SPXD is a Large Cap Value Equities fund tracking the S&P 500 Diversified Sector Weight Index, while CA is a Municipal Bonds fund tracking the ICE AMT-Free Broad Liquid California Municipal Index - Benchmark TR Gross. Both are passively managed. At a 0.21 correlation, their price movements are largely independent. SPXD charges 0.09%/yr vs 0.07%/yr for CA.

Performance

SPXD vs. CA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers S&P 500 Diversified Sector Weight ETF (SPXD) and Xtrackers California Municipal Bond ETF (CA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPXD achieves a 8.92% return, which is significantly higher than CA's 1.20% return.

SPXD

• 1D: -1.05%
• 1M: 0.85%
• YTD: 8.92%
• 6M: 9.18%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CA

• 1D: 0.00%
• 1M: -0.02%
• YTD: 1.20%
• 6M: 1.50%
• 1Y: 6.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPXD vs. CA - Yearly Performance Comparison

	2026 (YTD)	2025
SPXD Xtrackers S&P 500 Diversified Sector Weight ETF	8.92%	5.02%
CA Xtrackers California Municipal Bond ETF	1.20%	5.54%

Correlation

The correlation between SPXD and CA is 0.21, 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 25, 2025	0.21

Return for Risk

SPXD vs. CA — Risk / Return Rank

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

CA

CA Risk / Return Rank: 74
CA Sharpe Ratio Rank: 81
CA Sortino Ratio Rank: 86
CA Omega Ratio Rank: 91
CA Calmar Ratio Rank: 53
CA Martin Ratio Rank: 57

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.

SPXD vs. CA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers S&P 500 Diversified Sector Weight ETF (SPXD) and Xtrackers California Municipal Bond ETF (CA). 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.

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

Sharpe Ratios by Period

	SPXD	CA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.48	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.56	0.67	+0.88

Drawdowns

SPXD vs. CA - Drawdown Comparison

The maximum SPXD drawdown since its inception was -7.53%, which is greater than CA's maximum drawdown of -5.24%. Use the drawdown chart below to compare losses from any high point for SPXD and CA.

Drawdown Indicators

	SPXD	CA	Difference
Max Drawdown Largest peak-to-trough decline	-7.53%	-5.24%	-2.29%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.57%	—
Current Drawdown Current decline from peak	-1.05%	-0.75%	-0.30%
Average Drawdown Average peak-to-trough decline	-1.23%	-1.27%	+0.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.68%	—

Volatility

Volatility by Period

	SPXD	CA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.02%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.82%	—
Volatility (1Y) Calculated over the trailing 1-year period	10.82%	2.61%	+8.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.82%	3.98%	+6.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.82%	3.98%	+6.84%

SPXD vs. CA - Expense Ratio Comparison

SPXD has a 0.09% expense ratio, which is higher than CA's 0.07% 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

SPXD vs. CA - Dividend Comparison

SPXD's dividend yield for the trailing twelve months is around 1.03%, less than CA's 2.96% yield.

Position	TTM	2025	2024
CA Xtrackers California Municipal Bond ETF	2.96%	3.14%	3.03%
SPXD Xtrackers S&P 500 Diversified Sector Weight ETF	1.03%	0.76%	0.00%

Frequently Asked Questions

Can I hold both SPXD and CA in my portfolio?

SPXD and CA have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPXD or CA?

On fees, CA is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPXD or CA?

CA is cheaper with a 0.07% expense ratio, compared with 0.09% for SPXD.

Which ETF pays a higher dividend yield, SPXD or CA?

CA has the higher dividend yield at 2.96%, compared with 1.03% for SPXD.

What is the main difference between SPXD and CA?

SPXD is categorized as Large Cap Value Equities, while CA is Municipal Bonds. SPXD tracks S&P 500 Diversified Sector Weight Index, while CA tracks ICE AMT-Free Broad Liquid California Municipal Index - Benchmark TR Gross. Their fees differ too: 0.09% for SPXD and 0.07% for CA.