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XAR vs. WM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XAR vs. WM

Last updated Jun 14, 2026

XAR (SPDR S&P Aerospace & Defense ETF) is Aerospace & Defense fund tracking the S&P Aerospace & Defense Select Industry Index, while WM (Waste Management, Inc.) is a stock. Over the past 10 years, XAR returned 18.45%/yr vs 15.36%/yr for WM. At a 0.35 correlation, their price movements are largely independent.

Performance

XAR vs. WM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Aerospace & Defense ETF (XAR) and Waste Management, Inc. (WM). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XAR achieves a 16.10% return, which is significantly higher than WM's 0.71% return. Over the past 10 years, XAR has outperformed WM with an annualized return of 18.45%, while WM has yielded a comparatively lower 15.36% annualized return.

XAR

1D
-1.55%
1M
3.18%
YTD
16.10%
6M
18.39%
1Y
42.07%
3Y*
33.32%
5Y*
16.58%
10Y*
18.45%

WM

1D
0.30%
1M
0.26%
YTD
0.71%
6M
2.63%
1Y
-5.72%
3Y*
12.33%
5Y*
11.14%
10Y*
15.36%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XAR vs. WM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XAR
SPDR S&P Aerospace & Defense ETF		16.10%46.15%23.32%23.79%-5.02%2.31%6.18%39.33%-4.58%33.00%
WM
Waste Management, Inc.		0.71%10.50%14.28%16.20%-4.49%43.82%5.46%30.45%5.32%24.46%

Correlation

The correlation between XAR and WM is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

-0.07

Correlation (3Y)
Calculated over the trailing 3-year period

0.11

Correlation (5Y)
Calculated over the trailing 5-year period

0.22

Correlation (10Y)
Calculated over the trailing 10-year period

0.31

Correlation (All Time)
Calculated using the full available price history since Sep 29, 2011

0.35

The correlation between XAR and WM shifts across timeframes, from -0.07 (1 year) to 0.35 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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SPDR S&P Aerospace & Defense ETF

Waste Management, Inc.

Often compared with XAR:
XAR vs. ITAXAR vs. PPAXAR vs. SHLDXAR vs. VOOXAR vs. UFOXAR vs. FSDAXXAR vs. DFEN
Often compared with WM:
WM vs. RSGWM vs. WCNWM vs. KOWM vs. SCHDWM vs. GFLWM vs. CLHWM vs. UNP

Return for Risk

XAR vs. WM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XAR
XAR Risk / Return Rank: 4949
Overall Rank
XAR Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
XAR Sortino Ratio Rank: 5151
Sortino Ratio Rank
XAR Omega Ratio Rank: 4444
Omega Ratio Rank
XAR Calmar Ratio Rank: 5656
Calmar Ratio Rank
XAR Martin Ratio Rank: 4848
Martin Ratio Rank
WM
WM Risk / Return Rank: 2828
Overall Rank
WM Sharpe Ratio Rank: 2929
Sharpe Ratio Rank
WM Sortino Ratio Rank: 2525
Sortino Ratio Rank
WM Omega Ratio Rank: 2525
Omega Ratio Rank
WM Calmar Ratio Rank: 3131
Calmar Ratio Rank
WM Martin Ratio Rank: 2828
Martin Ratio Rank
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.

XAR vs. WM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Aerospace & Defense ETF (XAR) and Waste Management, Inc. (WM). 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.

XARWMDifference
Sharpe ratioReturn per unit of total volatility
1.50
-0.32

+1.82

Sortino ratioReturn per unit of downside risk
2.20
-0.32

+2.51

Omega ratioGain probability vs. loss probability

1.25

0.96

+0.29

Calmar ratioReturn relative to maximum drawdown

2.43

-0.36

+2.79

Martin ratioReturn relative to average drawdown

6.81

-0.79

+7.61

XAR vs. WM - Sharpe Ratio Comparison

The current XAR Sharpe Ratio is 1.50, which is higher than the WM Sharpe Ratio of -0.32. The chart below compares the historical Sharpe Ratios of XAR and WM, 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

XAR vs. WM - Drawdown Comparison

The maximum XAR drawdown since its inception was -46.37%, smaller than the maximum WM drawdown of -77.85%. Use the drawdown chart below to compare losses from any high point for XAR and WM.

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Drawdown Indicators

XARWMDifference

Max Drawdown

Largest peak-to-trough decline

-46.37%

-77.85%

+31.48%

Max Drawdown (1Y)

Largest decline over 1 year

-17.22%

-16.70%

-0.52%

Max Drawdown (3Y)

Largest decline over 3 years

-19.73%

-18.14%

-1.59%

Max Drawdown (5Y)

Largest decline over 5 years

-32.40%

-18.14%

-14.26%

Max Drawdown (10Y)

Largest decline over 10 years

-46.37%

-30.07%

-16.30%

Current Drawdown

Current decline from peak

-4.32%

-10.24%

+5.92%

Average Drawdown

Average peak-to-trough decline

-6.78%

-17.69%

+10.91%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.13%

7.58%

-1.45%

Volatility

XAR vs. WM - Volatility Comparison

SPDR S&P Aerospace & Defense ETF (XAR) has a higher volatility of 11.46% compared to Waste Management, Inc. (WM) at 6.13%. This indicates that XAR's price experiences larger fluctuations and is considered to be riskier than WM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XARWMDifference

Volatility (1M)

Calculated over the trailing 1-month period

11.46%

6.13%

+5.33%

Volatility (6M)

Calculated over the trailing 6-month period

23.56%

14.08%

+9.48%

Volatility (1Y)

Calculated over the trailing 1-year period

27.85%

19.03%

+8.82%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

23.66%

18.62%

+5.04%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

24.74%

19.54%

+5.20%

Dividends

XAR vs. WM - Dividend Comparison

XAR's dividend yield for the trailing twelve months is around 0.31%, less than WM's 1.61% yield.

PositionTTM20252024202320222021202020192018201720162015
WM
Waste Management, Inc.		1.61%1.50%1.49%1.56%1.66%1.38%1.85%1.80%2.09%1.97%2.31%2.89%
XAR
SPDR S&P Aerospace & Defense ETF		0.31%0.40%0.66%0.54%0.50%0.83%0.63%0.75%1.19%0.76%1.09%2.31%

Frequently Asked Questions

XAR and WM have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

XAR has higher volatility (11.46%) compared to WM (6.13%). In terms of maximum drawdown, XAR dropped -46.37% vs WM's -77.85%.

XAR currently has the higher Sharpe Ratio (1.50 vs -0.32), 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.

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