SXLI.L vs. SXLB.L

Last updated Jun 5, 2026

SXLI.L (SPDR S&P US Industrials Select Sector UCITS ETF) and SXLB.L (SPDR S&P US Materials Select Sector UCITS ETF) are both Industrials Equities funds from State Street tracking the MSCI World/Materials NR USD. Both are passively managed. Over the past 10 years, SXLI.L returned 13.67%/yr vs 9.76%/yr for SXLB.L. A 0.79 correlation means they provide meaningful diversification when combined. Both charge a 0.15% expense ratio.

Performance

SXLI.L vs. SXLB.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P US Industrials Select Sector UCITS ETF (SXLI.L) and SPDR S&P US Materials Select Sector UCITS ETF (SXLB.L). 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 SXLI.L having a 12.58% return and SXLB.L slightly lower at 12.57%. Over the past 10 years, SXLI.L has outperformed SXLB.L with an annualized return of 13.67%, while SXLB.L has yielded a comparatively lower 9.76% annualized return.

SXLI.L

• 1D: -0.09%
• 1M: 1.82%
• YTD: 12.58%
• 6M: 13.76%
• 1Y: 23.16%
• 3Y*: 21.91%
• 5Y*: 12.21%
• 10Y*: 13.67%

SXLB.L

• 1D: -0.20%
• 1M: 0.83%
• YTD: 12.57%
• 6M: 16.76%
• 1Y: 18.30%
• 3Y*: 11.15%
• 5Y*: 5.02%
• 10Y*: 9.76%

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

SXLI.L vs. SXLB.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SXLI.L SPDR S&P US Industrials Select Sector UCITS ETF	12.58%	19.21%	17.42%	17.94%	-5.33%	20.69%	10.13%	28.61%	-14.01%	23.49%
SXLB.L SPDR S&P US Materials Select Sector UCITS ETF	12.57%	10.91%	-0.67%	12.37%	-11.86%	26.98%	20.18%	23.16%	-15.68%	23.17%

Correlation

The correlation between SXLI.L and SXLB.L is 0.61, 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	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (10Y) Calculated over the trailing 10-year period	0.79
Correlation (All Time) Calculated using the full available price history since Jul 10, 2015	0.79

The correlation between SXLI.L and SXLB.L shifts across timeframes, from 0.61 (1 year) to 0.79 (all time), reflecting how their relationship changes across market environments.

SXLI.L vs. SXLB.L - Sectors Allocation Comparison

Sectors	SXLI.L	SXLB.L
Industrials	93.7%	-
Technology	6.0%	-
Utilities	5.4%	-
Consumer Cyclical	0.3%	8.5%
Basic Materials	0.2%	91.5%
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

SXLI.L vs. SXLB.L — Risk / Return Rank

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

SXLI.L

SXLI.L Risk / Return Rank: 47
SXLI.L Sharpe Ratio Rank: 46
SXLI.L Sortino Ratio Rank: 50
SXLI.L Omega Ratio Rank: 44
SXLI.L Calmar Ratio Rank: 45
SXLI.L Martin Ratio Rank: 51

SXLB.L

SXLB.L Risk / Return Rank: 31
SXLB.L Sharpe Ratio Rank: 31
SXLB.L Sortino Ratio Rank: 31
SXLB.L Omega Ratio Rank: 29
SXLB.L Calmar Ratio Rank: 33
SXLB.L Martin Ratio Rank: 32

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.

SXLI.L vs. SXLB.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P US Industrials Select Sector UCITS ETF (SXLI.L) and SPDR S&P US Materials Select Sector UCITS ETF (SXLB.L). 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.

	SXLI.L	SXLB.L	Difference
Sharpe ratio: Return per unit of total volatility	1.58	1.11	+0.47
Sortino ratio: Return per unit of downside risk	2.41	1.64	+0.77
Omega ratio: Gain probability vs. loss probability	1.28	1.19	+0.09
Calmar ratio: Return relative to maximum drawdown	2.21	1.60	+0.61
Martin ratio: Return relative to average drawdown	8.52	4.74	+3.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SXLI.L vs. SXLB.L - Sharpe Ratio Comparison

The current SXLI.L Sharpe Ratio is 1.58, which is higher than the SXLB.L Sharpe Ratio of 1.11. The chart below compares the historical Sharpe Ratios of SXLI.L and SXLB.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SXLI.L	SXLB.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.58	1.11	+0.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	0.27	+0.44
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.72	0.50	+0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.69	0.47	+0.22

Drawdowns

SXLI.L vs. SXLB.L - Drawdown Comparison

The maximum SXLI.L drawdown since its inception was -42.17%, which is greater than SXLB.L's maximum drawdown of -36.00%. Use the drawdown chart below to compare losses from any high point for SXLI.L and SXLB.L.

Drawdown Indicators

	SXLI.L	SXLB.L	Difference
Max Drawdown Largest peak-to-trough decline	-42.17%	-36.00%	-6.17%
Max Drawdown (1Y) Largest decline over 1 year	-10.44%	-11.40%	+0.96%
Max Drawdown (3Y) Largest decline over 3 years	-19.44%	-22.63%	+3.19%
Max Drawdown (5Y) Largest decline over 5 years	-21.24%	-25.19%	+3.95%
Max Drawdown (10Y) Largest decline over 10 years	-42.17%	-36.00%	-6.17%
Current Drawdown Current decline from peak	-0.88%	-3.29%	+2.41%
Average Drawdown Average peak-to-trough decline	-4.73%	-6.84%	+2.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.71%	3.85%	-1.14%

Volatility

SXLI.L vs. SXLB.L - Volatility Comparison

The current volatility for SPDR S&P US Industrials Select Sector UCITS ETF (SXLI.L) is 5.08%, while SPDR S&P US Materials Select Sector UCITS ETF (SXLB.L) has a volatility of 6.04%. This indicates that SXLI.L experiences smaller price fluctuations and is considered to be less risky than SXLB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SXLI.L	SXLB.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.08%	6.04%	-0.96%
Volatility (6M) Calculated over the trailing 6-month period	11.78%	13.37%	-1.59%
Volatility (1Y) Calculated over the trailing 1-year period	14.60%	16.49%	-1.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.28%	18.84%	-1.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.10%	19.58%	-0.48%

SXLI.L vs. SXLB.L - Expense Ratio Comparison

Both SXLI.L and SXLB.L have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

SXLI.L vs. SXLB.L - Dividend Comparison

Neither SXLI.L nor SXLB.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SXLI.L and SXLB.L in my portfolio?

SXLI.L and SXLB.L have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SXLI.L or SXLB.L?

Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SXLI.L or SXLB.L?

SXLI.L and SXLB.L have the same expense ratio: 0.15% per year.

What is the main difference between SXLI.L and SXLB.L?

Both ETFs track MSCI World/Materials NR USD.