XLC vs. DYNF

Last updated Jun 16, 2026

XLC (Communication Services Select Sector SPDR Fund) and DYNF (iShares U.S. Equity Factor Rotation Active ETF) are both exchange-traded funds - XLC is a Communications Equities fund tracking the S&P Communication Services Select Sector Index, while DYNF is a Large Cap Blend Equities fund actively managed by iShares. XLC is passively managed, while DYNF is actively managed. Over the past 5 years, XLC returned 8.31%/yr vs 15.35%/yr for DYNF. A 0.78 correlation means they provide meaningful diversification when combined. XLC charges 0.13%/yr vs 0.26%/yr for DYNF.

Performance

XLC vs. DYNF - Performance Comparison

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

Returns By Period

In the year-to-date period, XLC achieves a -4.39% return, which is significantly lower than DYNF's 12.25% return.

XLC

• 1D: 0.48%
• 1M: -3.35%
• YTD: -4.39%
• 6M: -3.14%
• 1Y: 10.72%
• 3Y*: 21.42%
• 5Y*: 8.31%
• 10Y*: —

DYNF

• 1D: 2.16%
• 1M: 2.71%
• YTD: 12.25%
• 6M: 12.86%
• 1Y: 31.46%
• 3Y*: 25.36%
• 5Y*: 15.35%
• 10Y*: —

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

XLC vs. DYNF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
XLC Communication Services Select Sector SPDR Fund	-4.39%	23.08%	34.71%	52.82%	-37.63%	15.96%	26.90%	14.60%
DYNF iShares U.S. Equity Factor Rotation Active ETF	12.25%	20.00%	30.29%	36.25%	-20.27%	22.12%	13.47%	14.75%

Correlation

The correlation between XLC and DYNF is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (All Time) Calculated using the full available price history since Mar 21, 2019	0.78

The correlation between XLC and DYNF shifts across timeframes, from 0.60 (1 year) to 0.79 (5 years), reflecting how their relationship changes across market environments.

XLC vs. DYNF - Sectors Allocation Comparison

Sectors	XLC	DYNF
Communication Services	95.1%	10.7%
Technology	4.7%	40.1%
Basic Materials	-	0.8%
Consumer Cyclical	-	7.1%
Consumer Defensive	-	1.7%
Energy	-	5.0%
Financial Services	-	14.9%
Healthcare	-	6.1%
Industrials	-	8.4%
Real Estate	-	2.0%
Utilities	-	2.8%

Return for Risk

XLC vs. DYNF — Risk / Return Rank

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

XLC

XLC Risk / Return Rank: 24
XLC Sharpe Ratio Rank: 25
XLC Sortino Ratio Rank: 25
XLC Omega Ratio Rank: 23
XLC Calmar Ratio Rank: 24
XLC Martin Ratio Rank: 26

DYNF

DYNF Risk / Return Rank: 82
DYNF Sharpe Ratio Rank: 84
DYNF Sortino Ratio Rank: 82
DYNF Omega Ratio Rank: 82
DYNF Calmar Ratio Rank: 78
DYNF Martin Ratio Rank: 88

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. DYNF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Communication Services Select Sector SPDR Fund (XLC) and iShares U.S. Equity Factor Rotation Active ETF (DYNF). 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.

	XLC	DYNF	Difference
Sharpe ratio: Return per unit of total volatility	0.81	2.41	-1.60
Sortino ratio: Return per unit of downside risk	1.25	3.23	-1.97
Omega ratio: Gain probability vs. loss probability	1.14	1.43	-0.29
Calmar ratio: Return relative to maximum drawdown	1.02	3.65	-2.63
Martin ratio: Return relative to average drawdown	3.21	17.10	-13.89

XLC vs. DYNF - Sharpe Ratio Comparison

The current XLC Sharpe Ratio is 0.81, which is lower than the DYNF Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of XLC and DYNF, 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

XLC vs. DYNF - Drawdown Comparison

The maximum XLC drawdown since its inception was -46.65%, which is greater than DYNF's maximum drawdown of -34.72%. Use the drawdown chart below to compare losses from any high point for XLC and DYNF.

Drawdown Indicators

	XLC	DYNF	Difference
Max Drawdown Largest peak-to-trough decline	-46.65%	-34.72%	-11.93%
Max Drawdown (1Y) Largest decline over 1 year	-10.57%	-8.67%	-1.90%
Max Drawdown (3Y) Largest decline over 3 years	-17.97%	-18.70%	+0.73%
Max Drawdown (5Y) Largest decline over 5 years	-46.65%	-28.65%	-18.00%
Current Drawdown Current decline from peak	-6.27%	0.00%	-6.27%
Average Drawdown Average peak-to-trough decline	-10.58%	-5.96%	-4.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.35%	1.85%	+1.50%

Volatility

XLC vs. DYNF - Volatility Comparison

The current volatility for Communication Services Select Sector SPDR Fund (XLC) is 3.61%, while iShares U.S. Equity Factor Rotation Active ETF (DYNF) has a volatility of 5.25%. This indicates that XLC experiences smaller price fluctuations and is considered to be less risky than DYNF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XLC	DYNF	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.61%	5.25%	-1.64%
Volatility (6M) Calculated over the trailing 6-month period	9.66%	10.57%	-0.91%
Volatility (1Y) Calculated over the trailing 1-year period	13.25%	13.14%	+0.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.68%	17.61%	+3.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.17%	19.92%	+2.25%

XLC vs. DYNF - Expense Ratio Comparison

XLC has a 0.13% expense ratio, which is lower than DYNF's 0.26% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

XLC vs. DYNF - Dividend Comparison

XLC's dividend yield for the trailing twelve months is around 1.24%, more than DYNF's 1.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DYNF iShares U.S. Equity Factor Rotation Active ETF	1.06%	1.01%	0.65%	1.11%	1.66%	2.89%	1.52%	1.22%	0.00%
XLC Communication Services Select Sector SPDR Fund	1.24%	1.13%	0.99%	0.82%	1.10%	0.74%	0.68%	0.82%	0.64%

Frequently Asked Questions

Can I hold both XLC and DYNF in my portfolio?

XLC and DYNF have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XLC or DYNF?

DYNF has higher volatility (5.25%) compared to XLC (3.61%). In terms of maximum drawdown, XLC dropped -46.65% vs DYNF's -34.72%.

Which ETF is better, XLC or DYNF?

On 5-year performance, DYNF leads with 15.35% vs 8.31% for XLC. On fees, XLC is cheaper at 0.13% per year. On volatility, XLC has been the lower-risk option at 3.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XLC or DYNF?

Over the 5-year period, DYNF has performed better with a 15.35% return vs 8.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XLC or DYNF?

XLC is cheaper with a 0.13% expense ratio, compared with 0.26% for DYNF.

Which ETF pays a higher dividend yield, XLC or DYNF?

XLC has the higher dividend yield at 1.24%, compared with 1.06% for DYNF.

What is the main difference between XLC and DYNF?

XLC is categorized as Communications Equities, while DYNF is Large Cap Blend Equities. They also come from different issuers: State Street and iShares. Their fees differ too: 0.13% for XLC and 0.26% for DYNF.

Which has better risk-adjusted returns?

DYNF currently has the higher Sharpe Ratio (2.41 vs 0.81), 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.