XCLR vs. SPLV
XCLR (Global X S&P 500 Collar 95-110 ETF) and SPLV (Invesco S&P 500 Low Volatility ETF) are both exchange-traded funds - XCLR is a Equity Hedged fund tracking the Cboe S&P 500 3-Month Collar 95-110 Index, while SPLV is a S&P 500 fund tracking the S&P 500 Low Volatility Index. Both are passively managed. Over the past 3 years, XCLR returned 13.24%/yr vs 8.73%/yr for SPLV. At a 0.49 correlation, their price movements are largely independent. Both charge a 0.25% expense ratio.
Performance
XCLR vs. SPLV - Performance Comparison
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Returns By Period
In the year-to-date period, XCLR achieves a 1.21% return, which is significantly lower than SPLV's 5.74% return.
XCLR
- 1D
- -0.24%
- 1M
- -0.70%
- YTD
- 1.21%
- 6M
- 0.21%
- 1Y
- 10.55%
- 3Y*
- 13.24%
- 5Y*
- —
- 10Y*
- —
SPLV
- 1D
- 0.65%
- 1M
- 1.00%
- YTD
- 5.74%
- 6M
- 5.04%
- 1Y
- 4.95%
- 3Y*
- 8.73%
- 5Y*
- 6.36%
- 10Y*
- 8.45%
XCLR vs. SPLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
XCLR Global X S&P 500 Collar 95-110 ETF | 1.21% | 10.25% | 20.67% | 15.64% | -12.93% | 3.30% |
SPLV Invesco S&P 500 Low Volatility ETF | 5.74% | 4.10% | 13.93% | 0.53% | -4.88% | 8.22% |
Correlation
The correlation between XCLR and SPLV is 0.09, 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 | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Aug 26, 2021 | 0.49 |
Over the past year, the correlation between XCLR and SPLV has dropped to 0.09 - well below their long-term average of 0.49, suggesting their price drivers have been diverging.
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Return for Risk
XCLR vs. SPLV — Risk / Return Rank
XCLR
SPLV
XCLR vs. SPLV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X S&P 500 Collar 95-110 ETF (XCLR) and Invesco S&P 500 Low Volatility ETF (SPLV). 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.
| XCLR | SPLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.78 | ||
| Sortino ratioReturn per unit of downside risk | +1.02 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.09 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.28 | 0.67 | +0.61 |
| Martin ratioReturn relative to average drawdown | 5.14 | 1.55 | +3.59 |
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Drawdowns
XCLR vs. SPLV - Drawdown Comparison
The maximum XCLR drawdown since its inception was -14.63%, smaller than the maximum SPLV drawdown of -36.26%. Use the drawdown chart below to compare losses from any high point for XCLR and SPLV.
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Drawdown Indicators
| XCLR | SPLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.63% | -36.26% | +21.63% |
Max Drawdown (1Y)Largest decline over 1 year | -8.29% | -7.41% | -0.88% |
Max Drawdown (3Y)Largest decline over 3 years | -12.46% | -9.64% | -2.82% |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.26% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.26% | — |
Current DrawdownCurrent decline from peak | -1.56% | -2.84% | +1.28% |
Average DrawdownAverage peak-to-trough decline | -4.65% | -3.55% | -1.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.06% | 3.21% | -1.15% |
Volatility
XCLR vs. SPLV - Volatility Comparison
The current volatility for Global X S&P 500 Collar 95-110 ETF (XCLR) is 1.31%, while Invesco S&P 500 Low Volatility ETF (SPLV) has a volatility of 4.27%. This indicates that XCLR experiences smaller price fluctuations and is considered to be less risky than SPLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XCLR | SPLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.31% | 4.27% | -2.96% |
Volatility (6M)Calculated over the trailing 6-month period | 5.95% | 7.38% | -1.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.37% | 10.22% | -1.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.39% | 12.50% | -2.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.39% | 15.39% | -5.00% |
XCLR vs. SPLV - Expense Ratio Comparison
Both XCLR and SPLV have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
XCLR vs. SPLV - Dividend Comparison
XCLR's dividend yield for the trailing twelve months is around 13.00%, more than SPLV's 2.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPLV Invesco S&P 500 Low Volatility ETF | 2.15% | 2.04% | 1.88% | 2.45% | 2.11% | 1.51% | 2.12% | 2.08% | 2.18% | 2.03% | 2.03% | 2.28% |
XCLR Global X S&P 500 Collar 95-110 ETF | 13.00% | 13.15% | 18.76% | 1.40% | 1.01% | 1.70% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XCLR and SPLV have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPLV has higher volatility (4.27%) compared to XCLR (1.31%). In terms of maximum drawdown, XCLR dropped -14.63% vs SPLV's -36.26%.
On 3-year performance, XCLR leads with 13.24% vs 8.73% for SPLV. Both ETFs have the same 0.25% expense ratio. On volatility, XCLR has been the lower-risk option at 1.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, XCLR has performed better with a 13.24% return vs 8.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XCLR and SPLV have the same expense ratio: 0.25% per year.
XCLR has the higher dividend yield at 13.00%, compared with 2.15% for SPLV.
XCLR is categorized as Equity Hedged, while SPLV is S&P 500. XCLR tracks Cboe S&P 500 3-Month Collar 95-110 Index, while SPLV tracks S&P 500 Low Volatility Index. They also come from different issuers: Global X and Invesco.
XCLR currently has the higher Sharpe Ratio (1.27 vs 0.49), 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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