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XLBI vs. SPY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XLBI vs. SPY

Last updated Jul 24, 2026
Documentation

XLBI (State Street Materials Select Sector SPDR Premium Income ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - XLBI is a Derivative Income fund actively managed by State Street, while SPY is a S&P 500 fund tracking the S&P 500 Index. XLBI is actively managed, while SPY is passively managed. A 0.55 correlation means they provide meaningful diversification when combined. XLBI charges 0.35%/yr vs 0.09%/yr for SPY.

Performance

XLBI vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Materials Select Sector SPDR Premium Income ETF (XLBI) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XLBI achieves a 6.64% return, which is significantly lower than SPY's 8.83% return.

XLBI

1D
-0.79%
1M
-0.53%
6M
2.93%
YTD
6.64%
1Y
—
3Y*
—
5Y*
—
10Y*
—
ALL TIME*
—

SPY

1D
-1.23%
1M
0.63%
6M
7.71%
YTD
8.83%
1Y
17.68%
3Y*
19.04%
5Y*
12.42%
10Y*
14.87%
ALL TIME*
10.76%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

SPY

State Street SPDR S&P 500 ETF
$33.29B$36.36B$38.53B

XLBI

State Street Materials Select Sector SPDR Premium Income ETF
$113.99K$122.71K$145.29K

XLBI vs. SPY - Yearly Performance Comparison

2026 (YTD)2025
XLBI
State Street Materials Select Sector SPDR Premium Income ETF		6.64%2.25%
SPY
State Street SPDR S&P 500 ETF		8.83%7.96%

Correlation

The correlation between XLBI and SPY is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (All Time)
Calculated using the full available price history since Jul 30, 2025

0.55

XLBI vs. SPY - Sectors Allocation Comparison

Sectors
XLBI
SPY

Financial Services

100.7%
11.9%

Basic Materials

-

1.8%

Communication Services

-

9.9%

Consumer Cyclical

-

9.3%

Consumer Defensive

-

4.5%

Energy

-

3.1%

Healthcare

-

8.9%

Industrials

-

7.7%

Real Estate

-

1.8%

Technology

-

38.2%

Utilities

-

2.6%

Financial Services

XLBI
100.7%
SPY
11.9%

Basic Materials

XLBI

-

SPY
1.8%

Communication Services

XLBI

-

SPY
9.9%

Consumer Cyclical

XLBI

-

SPY
9.3%

Consumer Defensive

XLBI

-

SPY
4.5%

Energy

XLBI

-

SPY
3.1%

Healthcare

XLBI

-

SPY
8.9%

Industrials

XLBI

-

SPY
7.7%

Real Estate

XLBI

-

SPY
1.8%

Technology

XLBI

-

SPY
38.2%

Utilities

XLBI

-

SPY
2.6%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

State Street Materials Select Sector SPDR Premium Income ETF

State Street SPDR S&P 500 ETF

Often compared with XLBI:
XLBI vs. DVXBXLBI vs. GLDXLBI vs. ACYSXLBI vs. XLBXLBI vs. FXZXLBI vs. SLXXLBI vs. BUYW
Often compared with SPY:
SPY vs. QQQSPY vs. VOOSPY vs. BRK-BSPY vs. RSPSPY vs. VTISPY vs. SCHDSPY vs. GLD

Return for Risk

XLBI vs. SPY — Risk / Return Rank

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

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

SPY
SPY Risk / Return Rank: 5555
Overall Rank
SPY Sharpe Ratio Rank: 5454
Sharpe Ratio Rank
SPY Sortino Ratio Rank: 5252
Sortino Ratio Rank
SPY Omega Ratio Rank: 5252
Omega Ratio Rank
SPY Calmar Ratio Rank: 5252
Calmar Ratio Rank
SPY Martin Ratio Rank: 6565
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.

XLBI vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Materials Select Sector SPDR Premium Income ETF (XLBI) and State Street SPDR S&P 500 ETF (SPY). 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.

XLBISPYDifference
Sharpe ratioReturn per unit of total volatility

—

1.40

—

Sortino ratioReturn per unit of downside risk

—

1.96

—

Omega ratioGain probability vs. loss probability

—

1.25

—

Calmar ratioReturn relative to maximum drawdown

—

2.00

—

Martin ratioReturn relative to average drawdown

—

8.63

—

XLBI vs. SPY - Sharpe Ratio Comparison

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Drawdowns

XLBI vs. SPY - Drawdown Comparison

The maximum XLBI drawdown since its inception was -10.62%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for XLBI and SPY.

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Drawdown Indicators

XLBISPYDifference

Max Drawdown

Largest peak-to-trough decline

-10.62%

-55.19%

+44.57%

Max Drawdown (1Y)

Largest decline over 1 year

—

-8.88%

—

Max Drawdown (3Y)

Largest decline over 3 years

—

-18.76%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-24.50%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-33.72%

—

Current Drawdown

Current decline from peak

-2.93%

-2.57%

-0.36%

Average Drawdown

Average peak-to-trough decline

-2.12%

-9.02%

+6.90%

Ulcer Index

Depth and duration of drawdowns from previous peaks

—

2.05%

—

Volatility

XLBI vs. SPY - Volatility Comparison

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Volatility by Period

XLBISPYDifference

Volatility (1M)

Calculated over the trailing 1-month period

—

3.28%

—

Volatility (6M)

Calculated over the trailing 6-month period

—

9.89%

—

Volatility (1Y)

Calculated over the trailing 1-year period

13.81%

12.71%

+1.10%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.81%

17.16%

-3.35%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

13.81%

17.93%

-4.12%

XLBI vs. SPY - Expense Ratio Comparison

XLBI has a 0.35% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

XLBI vs. SPY - Dividend Comparison

XLBI's dividend yield for the trailing twelve months is around 15.00%, more than SPY's 1.02% yield.

PositionTTM20252024202320222021202020192018201720162015
SPY
State Street SPDR S&P 500 ETF		1.02%1.07%1.21%1.40%1.65%1.20%1.52%1.75%2.04%1.80%2.03%2.06%
XLBI
State Street Materials Select Sector SPDR Premium Income ETF		15.00%7.71%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

XLBI and SPY have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, SPY is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

SPY is cheaper with a 0.09% expense ratio, compared with 0.35% for XLBI.

XLBI has the higher dividend yield at 15.00%, compared with 1.02% for SPY.

XLBI is categorized as Derivative Income, while SPY is S&P 500. Their fees differ too: 0.35% for XLBI and 0.09% for SPY.

Portfolio Optimizer

Find the right allocation for XLBI and SPY

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