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TOPT vs. XLG
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TOPT vs. XLG

Last updated Aug 4, 2026
Documentation

TOPT (iShares Top 20 U.S. Stocks ETF) and XLG (Invesco S&P 500 Top 50 ETF) are both exchange-traded funds - TOPT is a Large Cap Growth Equities fund tracking the S&P 500 Top 20 Select Index, while XLG is a S&P 500 fund tracking the S&P 500 Top 50 Index. Both are passively managed. Over the past year, TOPT returned 19.94% vs 17.86% for XLG. Their 0.98 correlation means they have historically moved very closely together. Both charge a 0.20% expense ratio.

Performance

TOPT vs. XLG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Top 20 U.S. Stocks ETF (TOPT) and Invesco S&P 500 Top 50 ETF (XLG). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, TOPT achieves a 6.59% return, which is significantly higher than XLG's 4.68% return.

TOPT

1D
1.68%
1M
1.65%
6M
7.66%
YTD
6.59%
1Y
19.94%
3Y*
—
5Y*
—
10Y*
—
ALL TIME*
18.49%

XLG

1D
1.74%
1M
1.81%
6M
4.68%
YTD
4.68%
1Y
17.86%
3Y*
21.61%
5Y*
14.02%
10Y*
16.44%
ALL TIME*
11.40%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

TOPT

iShares Top 20 U.S. Stocks ETF
$9.85M$10.29M$11.76M

XLG

Invesco S&P 500 Top 50 ETF
$59.56M$59.06M$102.51M

TOPT vs. XLG - Yearly Performance Comparison

2026 (YTD)20252024
TOPT
iShares Top 20 U.S. Stocks ETF		6.59%20.35%5.33%
XLG
Invesco S&P 500 Top 50 ETF		4.68%19.51%4.40%

Correlation

The correlation between TOPT and XLG is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.98

Correlation (All Time)
Calculated using the full available price history since Oct 24, 2024

0.98

The correlation between TOPT and XLG has been stable across timeframes, ranging from 0.98 to 0.98 - a consistent structural relationship.

TOPT vs. XLG - Sectors Allocation Comparison

Sectors
TOPT
XLG

Technology

53.3%
49.8%

Communication Services

15.6%
13.0%

Financial Services

10.2%
10.3%

Consumer Cyclical

7.9%
9.3%

Healthcare

6.6%
6.8%

Consumer Defensive

3.7%
5.1%

Energy

2.7%
2.5%

Basic Materials

-

0.6%

Industrials

-

1.9%

Real Estate

-

-

Utilities

-

0.7%

Technology

TOPT
53.3%
XLG
49.8%

Communication Services

TOPT
15.6%
XLG
13.0%

Financial Services

TOPT
10.2%
XLG
10.3%

Consumer Cyclical

TOPT
7.9%
XLG
9.3%

Healthcare

TOPT
6.6%
XLG
6.8%

Consumer Defensive

TOPT
3.7%
XLG
5.1%

Energy

TOPT
2.7%
XLG
2.5%

Basic Materials

TOPT

-

XLG
0.6%

Industrials

TOPT

-

XLG
1.9%

Real Estate

TOPT

-

XLG

-

Utilities

TOPT

-

XLG
0.7%

Compare stocks, funds, or ETFs

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

iShares Top 20 U.S. Stocks ETF

Invesco S&P 500 Top 50 ETF

Often compared with TOPT:
TOPT vs. QTOPTOPT vs. QQQTOPT vs. MAGSTOPT vs. VOOTOPT vs. QQQMTOPT vs. SCHGTOPT vs. SPMO
Often compared with XLG:
XLG vs. SPYXLG vs. QQQXLG vs. VOOXLG vs. XLKXLG vs. MGKXLG vs. SPYGXLG vs. SCHD

Return for Risk

TOPT vs. XLG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
TOPT
TOPT Risk / Return Rank: 4949
Overall Rank
TOPT Sharpe Ratio Rank: 5353
Sharpe Ratio Rank
TOPT Sortino Ratio Rank: 5353
Sortino Ratio Rank
TOPT Omega Ratio Rank: 5050
Omega Ratio Rank
TOPT Calmar Ratio Rank: 4242
Calmar Ratio Rank
TOPT Martin Ratio Rank: 4545
Martin Ratio Rank
XLG
XLG Risk / Return Rank: 4545
Overall Rank
XLG Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
XLG Sortino Ratio Rank: 4848
Sortino Ratio Rank
XLG Omega Ratio Rank: 4747
Omega Ratio Rank
XLG Calmar Ratio Rank: 4141
Calmar Ratio Rank
XLG Martin Ratio Rank: 4242
Martin Ratio Rank
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.

TOPT vs. XLG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Top 20 U.S. Stocks ETF (TOPT) and Invesco S&P 500 Top 50 ETF (XLG). 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.

TOPTXLGDifference
Sharpe ratioReturn per unit of total volatility
1.32
1.22

+0.10

Sortino ratioReturn per unit of downside risk
1.90
1.74

+0.15

Omega ratioGain probability vs. loss probability

1.23

1.22

+0.02

Calmar ratioReturn relative to maximum drawdown

1.53

1.44

+0.08

Martin ratioReturn relative to average drawdown

5.11

4.49

+0.62

TOPT vs. XLG - Sharpe Ratio Comparison

The current TOPT Sharpe Ratio is 1.32, which is comparable to the XLG Sharpe Ratio of 1.22. The chart below compares the historical Sharpe Ratios of TOPT and XLG, 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

TOPT vs. XLG - Drawdown Comparison

The maximum TOPT drawdown since its inception was -21.21%, smaller than the maximum XLG drawdown of -52.39%. Use the drawdown chart below to compare losses from any high point for TOPT and XLG.

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Drawdown Indicators

TOPTXLGDifference

Max Drawdown

Largest peak-to-trough decline

-21.21%

-52.39%

+31.18%

Max Drawdown (1Y)

Largest decline over 1 year

-13.13%

-12.41%

-0.72%

Max Drawdown (3Y)

Largest decline over 3 years

—

-20.70%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-28.02%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-30.46%

—

Current Drawdown

Current decline from peak

-3.38%

-4.09%

+0.71%

Average Drawdown

Average peak-to-trough decline

-3.55%

-7.62%

+4.07%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.91%

3.98%

-0.07%

Volatility

TOPT vs. XLG - Volatility Comparison

iShares Top 20 U.S. Stocks ETF (TOPT) and Invesco S&P 500 Top 50 ETF (XLG) have volatilities of 5.32% and 5.30%, 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

TOPTXLGDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.32%

5.30%

+0.02%

Volatility (6M)

Calculated over the trailing 6-month period

12.25%

11.66%

+0.59%

Volatility (1Y)

Calculated over the trailing 1-year period

15.24%

14.73%

+0.51%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.80%

18.91%

+0.89%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.80%

18.93%

+0.87%

TOPT vs. XLG - Expense Ratio Comparison

Both TOPT and XLG have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

TOPT vs. XLG - Dividend Comparison

TOPT's dividend yield for the trailing twelve months is around 0.38%, less than XLG's 0.64% yield.

PositionTTM20252024202320222021202020192018201720162015
TOPT
iShares Top 20 U.S. Stocks ETF		0.38%0.38%0.08%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
XLG
Invesco S&P 500 Top 50 ETF		0.64%0.64%0.72%0.97%1.34%0.94%1.25%1.58%2.00%1.85%2.00%2.09%

Frequently Asked Questions

With a correlation of 0.98, TOPT and XLG move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

TOPT has higher volatility (5.32%) compared to XLG (5.30%). In terms of maximum drawdown, TOPT dropped -21.21% vs XLG's -52.39%.

On 1-year performance, TOPT leads with 19.94% vs 17.86% for XLG. Both ETFs have the same 0.20% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 1-year period, TOPT has performed better with a 19.94% return vs 17.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

TOPT and XLG have the same expense ratio: 0.20% per year.

XLG has the higher dividend yield at 0.64%, compared with 0.38% for TOPT.

TOPT is categorized as Large Cap Growth Equities, while XLG is S&P 500. TOPT tracks S&P 500 Top 20 Select Index, while XLG tracks S&P 500 Top 50 Index. They also come from different issuers: iShares and Invesco.

TOPT currently has the higher Sharpe Ratio (1.32 vs 1.22), 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.

Portfolio Optimizer

Find the right allocation for TOPT and XLG

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