WARP vs. XLI

Last updated Jun 25, 2026

WARP (VanEck Space ETF) and XLI (Industrial Select Sector SPDR Fund) are both Industrials Equities funds - WARP tracks the MarketVector Space Index while XLI tracks the Industrial Select Sector Index. Both are passively managed. At a 0.27 correlation, their price movements are largely independent. WARP charges 0.50%/yr vs 0.08%/yr for XLI.

Performance

WARP vs. XLI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Space ETF (WARP) and Industrial Select Sector SPDR Fund (XLI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

WARP

• 1D: -4.50%
• 1M: -33.54%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

XLI

• 1D: 1.16%
• 1M: 5.17%
• YTD: 16.79%
• 6M: 15.02%
• 1Y: 25.83%
• 3Y*: 22.14%
• 5Y*: 13.68%
• 10Y*: 14.68%

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

WARP vs. XLI - Yearly Performance Comparison

	2026 (YTD)
WARP VanEck Space ETF	-13.52%
XLI Industrial Select Sector SPDR Fund	2.14%

Correlation

The correlation between WARP and XLI is 0.27, 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 May 7, 2026	0.27

Return for Risk

WARP vs. XLI — Risk / Return Rank

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

WARP

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

XLI

XLI Risk / Return Rank: 50
XLI Sharpe Ratio Rank: 51
XLI Sortino Ratio Rank: 52
XLI Omega Ratio Rank: 47
XLI Calmar Ratio Rank: 47
XLI Martin Ratio Rank: 53

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.

WARP vs. XLI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Space ETF (WARP) and Industrial Select Sector SPDR Fund (XLI). 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.

	WARP	XLI	Difference
Sharpe ratio: Return per unit of total volatility	—	1.59	—
Sortino ratio: Return per unit of downside risk	—	2.28	—
Omega ratio: Gain probability vs. loss probability	—	1.27	—
Calmar ratio: Return relative to maximum drawdown	—	2.12	—
Martin ratio: Return relative to average drawdown	—	8.37	—

Drawdowns

WARP vs. XLI - Drawdown Comparison

The maximum WARP drawdown since its inception was -41.34%, smaller than the maximum XLI drawdown of -62.26%. Use the drawdown chart below to compare losses from any high point for WARP and XLI.

Drawdown Indicators

	WARP	XLI	Difference
Max Drawdown Largest peak-to-trough decline	-41.34%	-62.26%	+20.92%
Max Drawdown (1Y) Largest decline over 1 year	—	-12.21%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-18.49%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-21.64%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-42.33%	—
Current Drawdown Current decline from peak	-41.34%	-0.87%	-40.47%
Average Drawdown Average peak-to-trough decline	-14.35%	-9.19%	-5.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.09%	—

Volatility

Volatility by Period

	WARP	XLI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.30%	—
Volatility (6M) Calculated over the trailing 6-month period	—	13.69%	—
Volatility (1Y) Calculated over the trailing 1-year period	88.59%	16.31%	+72.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	88.59%	17.55%	+71.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	88.59%	20.02%	+68.57%

WARP vs. XLI - Expense Ratio Comparison

WARP has a 0.50% expense ratio, which is higher than XLI's 0.08% expense ratio.

Dividends

WARP vs. XLI - Dividend Comparison

WARP has not paid dividends to shareholders, while XLI's dividend yield for the trailing twelve months is around 1.14%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
WARP VanEck Space ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XLI Industrial Select Sector SPDR Fund	1.14%	1.29%	1.44%	1.63%	1.63%	1.25%	1.55%	1.94%	2.15%	1.77%	2.07%	2.15%

Frequently Asked Questions

Can I hold both WARP and XLI in my portfolio?

WARP and XLI have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, WARP or XLI?

On fees, XLI is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, WARP or XLI?

XLI is cheaper with a 0.08% expense ratio, compared with 0.50% for WARP.

Which ETF pays a higher dividend yield, WARP or XLI?

XLI has the higher dividend yield at 1.14%, compared with 0.00% for WARP.

What is the main difference between WARP and XLI?

WARP tracks MarketVector Space Index, while XLI tracks Industrial Select Sector Index. They also come from different issuers: VanEck and State Street. Their fees differ too: 0.50% for WARP and 0.08% for XLI.