XHB vs. PIT

Last updated Jun 23, 2026

XHB (SPDR S&P Homebuilders ETF) and PIT (VanEck Commodity Strategy ETF) are both exchange-traded funds - XHB is a Building & Construction fund tracking the S&P Homebuilders Select Industry Index, while PIT is a Commodities fund actively managed by VanEck. XHB is passively managed, while PIT is actively managed. Over the past 3 years, XHB returned 13.19%/yr vs 19.51%/yr for PIT. At a correlation of -0.01, they often move in opposite directions. XHB charges 0.35%/yr vs 0.55%/yr for PIT.

Performance

XHB vs. PIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Homebuilders ETF (XHB) and VanEck Commodity Strategy ETF (PIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XHB achieves a 6.31% return, which is significantly lower than PIT's 27.31% return.

XHB

• 1D: -1.58%
• 1M: 9.28%
• YTD: 6.31%
• 6M: 4.68%
• 1Y: 15.99%
• 3Y*: 13.19%
• 5Y*: 9.70%
• 10Y*: 13.79%

PIT

• 1D: -0.75%
• 1M: -10.60%
• YTD: 27.31%
• 6M: 26.74%
• 1Y: 38.33%
• 3Y*: 19.51%
• 5Y*: —
• 10Y*: —

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

XHB vs. PIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
XHB SPDR S&P Homebuilders ETF	6.31%	-0.69%	9.87%	60.10%	-1.39%
PIT VanEck Commodity Strategy ETF	27.31%	21.63%	6.77%	-4.54%	1.67%

Correlation

The correlation between XHB and PIT is -0.18, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.18
Correlation (3Y) Calculated over the trailing 3-year period	-0.04
Correlation (All Time) Calculated using the full available price history since Dec 22, 2022	-0.01

The correlation between XHB and PIT shifts across timeframes, from -0.18 (1 year) to -0.01 (all time), reflecting how their relationship changes across market environments.

Return for Risk

XHB vs. PIT — Risk / Return Rank

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

XHB

XHB Risk / Return Rank: 18
XHB Sharpe Ratio Rank: 17
XHB Sortino Ratio Rank: 20
XHB Omega Ratio Rank: 17
XHB Calmar Ratio Rank: 17
XHB Martin Ratio Rank: 15

PIT

PIT Risk / Return Rank: 55
PIT Sharpe Ratio Rank: 54
PIT Sortino Ratio Rank: 48
PIT Omega Ratio Rank: 52
PIT Calmar Ratio Rank: 57
PIT Martin Ratio Rank: 62

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.

XHB vs. PIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Homebuilders ETF (XHB) and VanEck Commodity Strategy ETF (PIT). 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.

	XHB	PIT	Difference
Sharpe ratio: Return per unit of total volatility	0.57	1.78	-1.22
Sortino ratio: Return per unit of downside risk	1.09	2.32	-1.23
Omega ratio: Gain probability vs. loss probability	1.12	1.32	-0.20
Calmar ratio: Return relative to maximum drawdown	0.74	2.74	-2.00
Martin ratio: Return relative to average drawdown	1.51	10.88	-9.37

XHB vs. PIT - Sharpe Ratio Comparison

The current XHB Sharpe Ratio is 0.57, which is lower than the PIT Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of XHB and PIT, 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

XHB vs. PIT - Drawdown Comparison

The maximum XHB drawdown since its inception was -81.61%, which is greater than PIT's maximum drawdown of -14.05%. Use the drawdown chart below to compare losses from any high point for XHB and PIT.

Drawdown Indicators

	XHB	PIT	Difference
Max Drawdown Largest peak-to-trough decline	-81.61%	-14.05%	-67.56%
Max Drawdown (1Y) Largest decline over 1 year	-21.71%	-14.05%	-7.66%
Max Drawdown (3Y) Largest decline over 3 years	-30.53%	-14.05%	-16.48%
Max Drawdown (5Y) Largest decline over 5 years	-39.46%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-49.57%	—	—
Current Drawdown Current decline from peak	-11.97%	-14.05%	+2.08%
Average Drawdown Average peak-to-trough decline	-27.57%	-4.07%	-23.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.60%	3.59%	+7.01%

Volatility

XHB vs. PIT - Volatility Comparison

SPDR S&P Homebuilders ETF (XHB) has a higher volatility of 8.50% compared to VanEck Commodity Strategy ETF (PIT) at 4.67%. This indicates that XHB's price experiences larger fluctuations and is considered to be riskier than PIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XHB	PIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.50%	4.67%	+3.83%
Volatility (6M) Calculated over the trailing 6-month period	21.06%	19.36%	+1.70%
Volatility (1Y) Calculated over the trailing 1-year period	28.44%	21.66%	+6.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.84%	17.50%	+10.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.52%	17.50%	+10.02%

XHB vs. PIT - Expense Ratio Comparison

XHB has a 0.35% expense ratio, which is lower than PIT's 0.55% expense ratio.

Dividends

XHB vs. PIT - Dividend Comparison

XHB's dividend yield for the trailing twelve months is around 0.73%, less than PIT's 7.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PIT VanEck Commodity Strategy ETF	7.00%	8.92%	3.59%	6.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XHB SPDR S&P Homebuilders ETF	0.73%	0.78%	0.59%	0.77%	1.06%	0.51%	0.73%	0.89%	1.25%	0.72%	0.67%	0.50%

Frequently Asked Questions

Can I hold both XHB and PIT in my portfolio?

XHB and PIT have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XHB or PIT?

XHB has higher volatility (8.50%) compared to PIT (4.67%). In terms of maximum drawdown, XHB dropped -81.61% vs PIT's -14.05%.

Which ETF is better, XHB or PIT?

On 3-year performance, PIT leads with 19.51% vs 13.19% for XHB. On fees, XHB is cheaper at 0.35% per year. On volatility, PIT has been the lower-risk option at 4.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XHB or PIT?

Over the 3-year period, PIT has performed better with a 19.51% return vs 13.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XHB or PIT?

XHB is cheaper with a 0.35% expense ratio, compared with 0.55% for PIT.

Which ETF pays a higher dividend yield, XHB or PIT?

PIT has the higher dividend yield at 7.00%, compared with 0.73% for XHB.

What is the main difference between XHB and PIT?

XHB is categorized as Building & Construction, while PIT is Commodities. They also come from different issuers: State Street and VanEck. Their fees differ too: 0.35% for XHB and 0.55% for PIT.

Which has better risk-adjusted returns?

PIT currently has the higher Sharpe Ratio (1.78 vs 0.57), 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.