XLC vs. ICSH
XLC (Communication Services Select Sector SPDR Fund) and ICSH (iShares Ultra Short Duration Bond Active ETF) are both exchange-traded funds - XLC is a Communications Equities fund tracking the S&P Communication Services Select Sector Index, while ICSH is a Ultrashort Bond fund actively managed by iShares. XLC is passively managed, while ICSH is actively managed. Over the past 5 years, XLC returned 8.31%/yr vs 3.70%/yr for ICSH. At a 0.10 correlation, their price movements are largely independent. XLC charges 0.13%/yr vs 0.08%/yr for ICSH.
Performance
XLC vs. ICSH - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, XLC achieves a -4.39% return, which is significantly lower than ICSH's 1.57% return.
XLC
- 1D
- 0.48%
- 1M
- -3.35%
- YTD
- -4.39%
- 6M
- -3.14%
- 1Y
- 10.72%
- 3Y*
- 21.42%
- 5Y*
- 8.31%
- 10Y*
- —
ICSH
- 1D
- 0.04%
- 1M
- 0.36%
- YTD
- 1.57%
- 6M
- 1.81%
- 1Y
- 4.36%
- 3Y*
- 5.16%
- 5Y*
- 3.70%
- 10Y*
- 2.79%
XLC vs. ICSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
XLC Communication Services Select Sector SPDR Fund | -4.39% | 23.08% | 34.71% | 52.82% | -37.63% | 15.96% | 26.90% | 31.05% | -16.45% |
ICSH iShares Ultra Short Duration Bond Active ETF | 1.57% | 4.96% | 5.52% | 5.58% | 0.97% | 0.16% | 1.61% | 3.17% | 1.40% |
Correlation
The correlation between XLC and ICSH is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Jun 19, 2018 | 0.10 |
The correlation between XLC and ICSH shifts across timeframes, from 0.10 (all time) to 0.22 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
XLC vs. ICSH — Risk / Return Rank
XLC
ICSH
XLC vs. ICSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Communication Services Select Sector SPDR Fund (XLC) and iShares Ultra Short Duration Bond Active ETF (ICSH). 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 | ICSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -10.27 | ||
| Sortino ratioReturn per unit of downside risk | -26.49 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 6.64 | -5.50 |
| Calmar ratioReturn relative to maximum drawdown | 1.02 | 44.30 | -43.28 |
| Martin ratioReturn relative to average drawdown | 3.21 | 292.98 | -289.77 |
Loading charts...
Drawdowns
XLC vs. ICSH - Drawdown Comparison
The maximum XLC drawdown since its inception was -46.65%, which is greater than ICSH's maximum drawdown of -3.94%. Use the drawdown chart below to compare losses from any high point for XLC and ICSH.
Loading charts...
Drawdown Indicators
| XLC | ICSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.65% | -3.94% | -42.71% |
Max Drawdown (1Y)Largest decline over 1 year | -10.57% | -0.10% | -10.47% |
Max Drawdown (3Y)Largest decline over 3 years | -17.97% | -0.10% | -17.87% |
Max Drawdown (5Y)Largest decline over 5 years | -46.65% | -0.73% | -45.92% |
Max Drawdown (10Y)Largest decline over 10 years | — | -3.94% | — |
Current DrawdownCurrent decline from peak | -6.27% | 0.00% | -6.27% |
Average DrawdownAverage peak-to-trough decline | -10.58% | -0.08% | -10.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.35% | 0.01% | +3.34% |
Volatility
XLC vs. ICSH - Volatility Comparison
Communication Services Select Sector SPDR Fund (XLC) has a higher volatility of 3.61% compared to iShares Ultra Short Duration Bond Active ETF (ICSH) at 0.13%. This indicates that XLC's price experiences larger fluctuations and is considered to be riskier than ICSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| XLC | ICSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.61% | 0.13% | +3.48% |
Volatility (6M)Calculated over the trailing 6-month period | 9.66% | 0.30% | +9.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.25% | 0.40% | +12.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.68% | 0.48% | +20.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.17% | 1.06% | +21.11% |
XLC vs. ICSH - Expense Ratio Comparison
XLC has a 0.13% expense ratio, which is higher than ICSH's 0.08% expense ratio. However, 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. ICSH - Dividend Comparison
XLC's dividend yield for the trailing twelve months is around 1.24%, less than ICSH's 4.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ICSH iShares Ultra Short Duration Bond Active ETF | 4.33% | 4.55% | 5.24% | 4.78% | 1.66% | 0.42% | 1.21% | 2.61% | 2.20% | 1.36% | 0.88% | 0.54% |
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% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XLC and ICSH have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XLC has higher volatility (3.61%) compared to ICSH (0.13%). In terms of maximum drawdown, XLC dropped -46.65% vs ICSH's -3.94%.
On 5-year performance, XLC leads with 8.31% vs 3.70% for ICSH. On fees, ICSH is cheaper at 0.08% per year. On volatility, ICSH has been the lower-risk option at 0.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, XLC has performed better with a 8.31% return vs 3.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ICSH is cheaper with a 0.08% expense ratio, compared with 0.13% for XLC.
ICSH has the higher dividend yield at 4.33%, compared with 1.24% for XLC.
XLC is categorized as Communications Equities, while ICSH is Ultrashort Bond. They also come from different issuers: State Street and iShares. Their fees differ too: 0.13% for XLC and 0.08% for ICSH.
ICSH currently has the higher Sharpe Ratio (11.08 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.
Find the right allocation for XLC and ICSH
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer