VCSAX vs. XLP

Last updated Aug 2, 2026

VCSAX (Vanguard Consumer Staples Index Fund Admiral Shares) and XLP (State Street Consumer Staples Select Sector SPDR ETF) are both Consumer Staples Equities funds. Over the past 10 years, VCSAX returned 7.82%/yr vs 7.36%/yr for XLP. Their 0.97 correlation means they have historically moved very closely together. VCSAX charges 0.10%/yr vs 0.08%/yr for XLP.

Performance

VCSAX vs. XLP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Consumer Staples Index Fund Admiral Shares (VCSAX) and State Street Consumer Staples Select Sector SPDR ETF (XLP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with VCSAX having a 10.73% return and XLP slightly higher at 10.87%. Over the past 10 years, VCSAX has outperformed XLP with an annualized return of 7.82%, while XLP has yielded a comparatively lower 7.36% annualized return.

VCSAX

• 1D: -1.99%
• 1M: 0.29%
• 6M: 3.09%
• YTD: 10.73%
• 1Y: 8.94%
• 3Y*: 7.70%
• 5Y*: 7.24%
• 10Y*: 7.82%
• ALL TIME*: 9.40%

XLP

• 1D: -0.49%
• 1M: 0.07%
• 6M: 3.13%
• YTD: 10.87%
• 1Y: 9.04%
• 3Y*: 6.99%
• 5Y*: 6.30%
• 10Y*: 7.36%
• ALL TIME*: 6.87%

*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)
VCSAX Vanguard Consumer Staples Index Fund Admiral Shares	$0.00	$0.00	$0.00
XLP State Street Consumer Staples Select Sector SPDR ETF	$1.02B	$989.49M	$1.01B

VCSAX vs. XLP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VCSAX Vanguard Consumer Staples Index Fund Admiral Shares	10.73%	2.11%	13.29%	2.38%	-1.75%	18.56%	10.90%	26.08%	-7.72%	11.79%
XLP State Street Consumer Staples Select Sector SPDR ETF	10.87%	1.52%	12.20%	-0.82%	-0.81%	17.20%	10.11%	27.43%	-8.07%	12.98%

Correlation

The correlation between VCSAX and XLP 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 (3Y) Balances recent behavior with more history.	0.98
Correlation (5Y) Shows whether the relationship held over a longer period.	0.99
Correlation (10Y) Provides a long-term view across more market conditions.	0.99
Correlation (All Time) Calculated using the full available price history since Jan 30, 2004	0.97

The correlation between VCSAX and XLP has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.

VCSAX vs. XLP - Sectors Allocation Comparison

Sectors	VCSAX	XLP
Consumer Defensive	97.1%	98.1%
Consumer Cyclical	1.1%	1.9%
Technology	0.5%	-
Basic Materials	0.4%	-
Industrials	0.3%	-
Healthcare	0.0%	-
Communication Services	-	-
Energy	-	-
Financial Services	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

VCSAX vs. XLP — Risk / Return Rank

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

VCSAX

VCSAX Risk / Return Rank: 17
VCSAX Sharpe Ratio Rank: 17
VCSAX Sortino Ratio Rank: 18
VCSAX Omega Ratio Rank: 16
VCSAX Calmar Ratio Rank: 20
VCSAX Martin Ratio Rank: 13

XLP

XLP Risk / Return Rank: 27
XLP Sharpe Ratio Rank: 28
XLP Sortino Ratio Rank: 28
XLP Omega Ratio Rank: 26
XLP Calmar Ratio Rank: 30
XLP Martin Ratio Rank: 24

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.

VCSAX vs. XLP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Consumer Staples Index Fund Admiral Shares (VCSAX) and State Street Consumer Staples Select Sector SPDR ETF (XLP). 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.

	VCSAX	XLP	Difference
Sharpe ratio: Return per unit of total volatility	0.62	0.68	-0.06
Sortino ratio: Return per unit of downside risk	1.00	1.07	-0.07
Omega ratio: Gain probability vs. loss probability	1.11	1.12	-0.01
Calmar ratio: Return relative to maximum drawdown	0.93	0.99	-0.06
Martin ratio: Return relative to average drawdown	1.73	1.80	-0.07

VCSAX vs. XLP - Sharpe Ratio Comparison

The current VCSAX Sharpe Ratio is 0.62, which is comparable to the XLP Sharpe Ratio of 0.68. The chart below compares the historical Sharpe Ratios of VCSAX and XLP, 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

VCSAX vs. XLP - Drawdown Comparison

The maximum VCSAX drawdown since its inception was -34.34%, roughly equal to the maximum XLP drawdown of -35.90%. Use the drawdown chart below to compare losses from any high point for VCSAX and XLP.

Drawdown Indicators

	VCSAX	XLP	Difference
Max Drawdown Largest peak-to-trough decline	-34.34%	-35.90%	+1.56%
Max Drawdown (1Y) Largest decline over 1 year	-9.28%	-9.69%	+0.41%
Max Drawdown (3Y) Largest decline over 3 years	-11.03%	-11.42%	+0.39%
Max Drawdown (5Y) Largest decline over 5 years	-16.56%	-16.30%	-0.26%
Max Drawdown (10Y) Largest decline over 10 years	-25.08%	-24.51%	-0.57%
Current Drawdown Current decline from peak	-4.27%	-4.32%	+0.05%
Average Drawdown Average peak-to-trough decline	-3.75%	-7.05%	+3.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.96%	5.33%	-0.37%

Volatility

VCSAX vs. XLP - Volatility Comparison

Vanguard Consumer Staples Index Fund Admiral Shares (VCSAX) and State Street Consumer Staples Select Sector SPDR ETF (XLP) have volatilities of 5.88% and 6.08%, 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

	VCSAX	XLP	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.88%	6.08%	-0.20%
Volatility (6M) Calculated over the trailing 6-month period	11.44%	11.61%	-0.17%
Volatility (1Y) Calculated over the trailing 1-year period	13.83%	14.16%	-0.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.47%	13.61%	-0.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.76%	14.86%	-0.10%

VCSAX vs. XLP - Expense Ratio Comparison

VCSAX has a 0.10% expense ratio, which is higher than XLP's 0.08% 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

VCSAX vs. XLP - Dividend Comparison

VCSAX's dividend yield for the trailing twelve months is around 2.08%, less than XLP's 2.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VCSAX Vanguard Consumer Staples Index Fund Admiral Shares	2.08%	2.26%	2.33%	2.65%	2.37%	2.99%	2.50%	2.44%	2.78%	2.52%	2.40%	2.56%
XLP State Street Consumer Staples Select Sector SPDR ETF	2.58%	2.75%	2.77%	2.63%	2.47%	2.28%	2.50%	2.57%	3.04%	2.62%	2.53%	2.52%

Frequently Asked Questions

Can I hold both VCSAX and XLP in my portfolio?

With a correlation of 0.98, VCSAX and XLP 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.

Which is riskier, VCSAX or XLP?

XLP has higher volatility (6.08%) compared to VCSAX (5.88%). In terms of maximum drawdown, VCSAX dropped -34.34% vs XLP's -35.90%.

Which has better risk-adjusted returns?

XLP currently has the higher Sharpe Ratio (0.68 vs 0.62), 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.