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XLC vs. DVY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XLC vs. DVY

Last updated Jun 14, 2026

XLC (Communication Services Select Sector SPDR Fund) and DVY (iShares Select Dividend ETF) are both exchange-traded funds - XLC is a Communications Equities fund tracking the S&P Communication Services Select Sector Index, while DVY is a Large Cap Value Equities fund tracking the Dow Jones U.S. Select Dividend Index. Both are passively managed. Over the past 5 years, XLC returned 8.03%/yr vs 9.31%/yr for DVY. A 0.51 correlation means they provide meaningful diversification when combined. XLC charges 0.13%/yr vs 0.39%/yr for DVY.

Performance

XLC vs. DVY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Communication Services Select Sector SPDR Fund (XLC) and iShares Select Dividend ETF (DVY). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XLC achieves a -4.85% return, which is significantly lower than DVY's 13.40% return.

XLC

1D
-0.42%
1M
-4.66%
YTD
-4.85%
6M
-3.59%
1Y
10.19%
3Y*
21.60%
5Y*
8.03%
10Y*
—

DVY

1D
1.18%
1M
4.16%
YTD
13.40%
6M
12.29%
1Y
25.66%
3Y*
15.86%
5Y*
9.31%
10Y*
10.49%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XLC vs. DVY - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
XLC
Communication Services Select Sector SPDR Fund		-4.85%23.08%34.71%52.82%-37.63%15.96%26.90%31.05%-16.45%
DVY
iShares Select Dividend ETF		13.40%11.60%16.24%1.12%1.80%31.70%-4.91%22.62%-7.18%

Correlation

The correlation between XLC and DVY is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.36

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

0.42

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

0.51

Correlation (All Time)
Calculated using the full available price history since Jun 19, 2018

0.51

The correlation between XLC and DVY shifts across timeframes, from 0.36 (1 year) to 0.51 (all time), reflecting how their relationship changes across market environments.

XLC vs. DVY - Sectors Allocation Comparison

Sectors
XLC
DVY

Communication Services

95.1%
5.5%

Technology

4.7%
4.0%

Basic Materials

-

2.1%

Consumer Cyclical

-

9.6%

Consumer Defensive

-

13.5%

Energy

-

8.8%

Financial Services

-

25.1%

Healthcare

-

5.2%

Industrials

-

2.0%

Real Estate

-

-

Utilities

-

23.7%

Communication Services

XLC
95.1%
DVY
5.5%

Technology

XLC
4.7%
DVY
4.0%

Basic Materials

XLC

-

DVY
2.1%

Consumer Cyclical

XLC

-

DVY
9.6%

Consumer Defensive

XLC

-

DVY
13.5%

Energy

XLC

-

DVY
8.8%

Financial Services

XLC

-

DVY
25.1%

Healthcare

XLC

-

DVY
5.2%

Industrials

XLC

-

DVY
2.0%

Real Estate

XLC

-

DVY

-

Utilities

XLC

-

DVY
23.7%

Compare stocks, funds, or ETFs

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

Communication Services Select Sector SPDR Fund

iShares Select Dividend ETF

Often compared with XLC:
XLC vs. VOXXLC vs. SPYXLC vs. FCOMXLC vs. XLFXLC vs. XTLXLC vs. IXPXLC vs. VOO
Often compared with DVY:
DVY vs. SCHDDVY vs. HDVDVY vs. VYMDVY vs. DGRODVY vs. VIGDVY vs. SPYDDVY vs. VOO

Return for Risk

XLC vs. DVY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XLC
XLC Risk / Return Rank: 2222
Overall Rank
XLC Sharpe Ratio Rank: 2222
Sharpe Ratio Rank
XLC Sortino Ratio Rank: 2222
Sortino Ratio Rank
XLC Omega Ratio Rank: 2020
Omega Ratio Rank
XLC Calmar Ratio Rank: 2222
Calmar Ratio Rank
XLC Martin Ratio Rank: 2424
Martin Ratio Rank
DVY
DVY Risk / Return Rank: 7878
Overall Rank
DVY Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
DVY Sortino Ratio Rank: 8282
Sortino Ratio Rank
DVY Omega Ratio Rank: 7474
Omega Ratio Rank
DVY Calmar Ratio Rank: 7878
Calmar Ratio Rank
DVY Martin Ratio Rank: 7676
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.

XLC vs. DVY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Communication Services Select Sector SPDR Fund (XLC) and iShares Select Dividend ETF (DVY). 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.

XLCDVYDifference
Sharpe ratioReturn per unit of total volatility
0.69
2.19

-1.50

Sortino ratioReturn per unit of downside risk
1.08
3.19

-2.11

Omega ratioGain probability vs. loss probability

1.12

1.37

-0.25

Calmar ratioReturn relative to maximum drawdown

0.86

3.54

-2.68

Martin ratioReturn relative to average drawdown

2.73

12.51

-9.78

XLC vs. DVY - Sharpe Ratio Comparison

The current XLC Sharpe Ratio is 0.69, which is lower than the DVY Sharpe Ratio of 2.19. The chart below compares the historical Sharpe Ratios of XLC and DVY, 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

XLC vs. DVY - Drawdown Comparison

The maximum XLC drawdown since its inception was -46.65%, smaller than the maximum DVY drawdown of -62.59%. Use the drawdown chart below to compare losses from any high point for XLC and DVY.

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Drawdown Indicators

XLCDVYDifference

Max Drawdown

Largest peak-to-trough decline

-46.65%

-62.59%

+15.94%

Max Drawdown (1Y)

Largest decline over 1 year

-10.57%

-6.89%

-3.68%

Max Drawdown (3Y)

Largest decline over 3 years

-17.97%

-16.00%

-1.97%

Max Drawdown (5Y)

Largest decline over 5 years

-46.65%

-17.54%

-29.11%

Max Drawdown (10Y)

Largest decline over 10 years

—

-41.59%

—

Current Drawdown

Current decline from peak

-6.72%

0.00%

-6.72%

Average Drawdown

Average peak-to-trough decline

-10.58%

-8.78%

-1.80%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.33%

1.95%

+1.38%

Volatility

XLC vs. DVY - Volatility Comparison

Communication Services Select Sector SPDR Fund (XLC) has a higher volatility of 3.57% compared to iShares Select Dividend ETF (DVY) at 2.94%. This indicates that XLC's price experiences larger fluctuations and is considered to be riskier than DVY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XLCDVYDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.57%

2.94%

+0.63%

Volatility (6M)

Calculated over the trailing 6-month period

9.65%

7.54%

+2.11%

Volatility (1Y)

Calculated over the trailing 1-year period

13.28%

11.16%

+2.12%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.68%

15.22%

+5.46%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.17%

18.01%

+4.16%

XLC vs. DVY - Expense Ratio Comparison

XLC has a 0.13% expense ratio, which is lower than DVY's 0.39% expense ratio.

Dividends

XLC vs. DVY - Dividend Comparison

XLC's dividend yield for the trailing twelve months is around 1.25%, less than DVY's 3.30% yield.

PositionTTM20252024202320222021202020192018201720162015
DVY
iShares Select Dividend ETF		3.30%3.65%3.65%3.82%3.43%3.12%3.66%3.41%3.58%3.00%3.04%3.45%
XLC
Communication Services Select Sector SPDR Fund		1.25%1.13%0.99%0.82%1.10%0.74%0.68%0.82%0.64%0.00%0.00%0.00%

Frequently Asked Questions

XLC and DVY have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

XLC has higher volatility (3.57%) compared to DVY (2.94%). In terms of maximum drawdown, XLC dropped -46.65% vs DVY's -62.59%.

On 5-year performance, DVY leads with 9.31% vs 8.03% for XLC. On fees, XLC is cheaper at 0.13% per year. On volatility, DVY has been the lower-risk option at 2.94%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, DVY has performed better with a 9.31% return vs 8.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

XLC is cheaper with a 0.13% expense ratio, compared with 0.39% for DVY.

DVY has the higher dividend yield at 3.30%, compared with 1.25% for XLC.

XLC is categorized as Communications Equities, while DVY is Large Cap Value Equities. XLC tracks S&P Communication Services Select Sector Index, while DVY tracks Dow Jones U.S. Select Dividend Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.13% for XLC and 0.39% for DVY.

DVY currently has the higher Sharpe Ratio (2.19 vs 0.69), 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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