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XLC vs. IXP
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XLC vs. IXP

Last updated Jun 12, 2026

XLC (Communication Services Select Sector SPDR Fund) and IXP (iShares Global Comm Services ETF) are both exchange-traded funds - XLC is a Communications Equities fund tracking the S&P Communication Services Select Sector Index, while IXP is a Large Cap Growth Equities fund tracking the S&P Global 1200 Communication Services 4.5/22.5/45 Capped. Both are passively managed. Over the past 5 years, XLC returned 8.12%/yr vs 8.31%/yr for IXP. Their correlation of 0.93 suggests significant overlap in exposure. XLC charges 0.13%/yr vs 0.43%/yr for IXP.

Performance

XLC vs. IXP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Communication Services Select Sector SPDR Fund (XLC) and iShares Global Comm Services ETF (IXP). 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 -4.45% return, which is significantly lower than IXP's -2.01% return.

XLC

1D
1.00%
1M
-3.23%
YTD
-4.45%
6M
-3.40%
1Y
8.64%
3Y*
21.90%
5Y*
8.12%
10Y*
—

IXP

1D
0.87%
1M
-3.52%
YTD
-2.01%
6M
-1.45%
1Y
12.56%
3Y*
22.54%
5Y*
8.31%
10Y*
9.29%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XLC vs. IXP - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
XLC
Communication Services Select Sector SPDR Fund		-4.45%23.08%34.71%52.82%-37.63%15.96%26.90%31.05%-16.45%
IXP
iShares Global Comm Services ETF		-2.01%29.27%31.33%38.80%-33.40%12.77%22.16%25.23%-5.47%

Correlation

The correlation between XLC and IXP is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.87

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

0.92

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

0.94

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

0.93

The correlation between XLC and IXP has been stable across timeframes, ranging from 0.87 to 0.94 - a consistent structural relationship.

XLC vs. IXP - Sectors Allocation Comparison

Sectors
XLC
IXP

Communication Services

95.1%
99.3%

Technology

4.7%
2.0%

Basic Materials

-

-

Consumer Cyclical

-

0.2%

Consumer Defensive

-

-

Energy

-

-

Financial Services

-

-

Healthcare

-

-

Industrials

-

-

Real Estate

-

0.5%

Utilities

-

-

Communication Services

XLC
95.1%
IXP
99.3%

Technology

XLC
4.7%
IXP
2.0%

Basic Materials

XLC

-

IXP

-

Consumer Cyclical

XLC

-

IXP
0.2%

Consumer Defensive

XLC

-

IXP

-

Energy

XLC

-

IXP

-

Financial Services

XLC

-

IXP

-

Healthcare

XLC

-

IXP

-

Industrials

XLC

-

IXP

-

Real Estate

XLC

-

IXP
0.5%

Utilities

XLC

-

IXP

-

Compare stocks, funds, or ETFs

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Communication Services Select Sector SPDR Fund

iShares Global Comm Services ETF

Often compared with XLC:
XLC vs. VOXXLC vs. SPYXLC vs. FCOMXLC vs. XLFXLC vs. XTLXLC vs. VOOXLC vs. GXLC.L
Often compared with IXP:
IXP vs. FCOMIXP vs. IYZIXP vs. VOOIXP vs. QQQIXP vs. IYWIXP vs. VTIIXP vs. RSPN

Return for Risk

XLC vs. IXP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XLC
XLC Risk / Return Rank: 2323
Overall Rank
XLC Sharpe Ratio Rank: 2424
Sharpe Ratio Rank
XLC Sortino Ratio Rank: 2323
Sortino Ratio Rank
XLC Omega Ratio Rank: 2121
Omega Ratio Rank
XLC Calmar Ratio Rank: 2222
Calmar Ratio Rank
XLC Martin Ratio Rank: 2525
Martin Ratio Rank
IXP
IXP Risk / Return Rank: 2828
Overall Rank
IXP Sharpe Ratio Rank: 2828
Sharpe Ratio Rank
IXP Sortino Ratio Rank: 3030
Sortino Ratio Rank
IXP Omega Ratio Rank: 2727
Omega Ratio Rank
IXP Calmar Ratio Rank: 2626
Calmar Ratio Rank
IXP Martin Ratio Rank: 2929
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. IXP - Risk-Adjusted Trends Comparison

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

XLCIXPDifference
Sharpe ratioReturn per unit of total volatility
0.65
0.86

-0.21

Sortino ratioReturn per unit of downside risk
1.03
1.40

-0.37

Omega ratioGain probability vs. loss probability

1.12

1.16

-0.04

Calmar ratioReturn relative to maximum drawdown

0.82

1.03

-0.21

Martin ratioReturn relative to average drawdown

2.62

3.47

-0.85

XLC vs. IXP - Sharpe Ratio Comparison

The current XLC Sharpe Ratio is 0.65, which is comparable to the IXP Sharpe Ratio of 0.86. The chart below compares the historical Sharpe Ratios of XLC and IXP, 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. IXP - Drawdown Comparison

The maximum XLC drawdown since its inception was -46.65%, smaller than the maximum IXP drawdown of -50.11%. Use the drawdown chart below to compare losses from any high point for XLC and IXP.

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Drawdown Indicators

XLCIXPDifference

Max Drawdown

Largest peak-to-trough decline

-46.65%

-50.11%

+3.46%

Max Drawdown (1Y)

Largest decline over 1 year

-10.57%

-12.26%

+1.69%

Max Drawdown (3Y)

Largest decline over 3 years

-17.97%

-17.54%

-0.43%

Max Drawdown (5Y)

Largest decline over 5 years

-46.65%

-44.30%

-2.35%

Max Drawdown (10Y)

Largest decline over 10 years

—

-44.30%

—

Current Drawdown

Current decline from peak

-6.33%

-6.11%

-0.22%

Average Drawdown

Average peak-to-trough decline

-10.58%

-11.91%

+1.33%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.30%

3.63%

-0.33%

Volatility

XLC vs. IXP - Volatility Comparison

Communication Services Select Sector SPDR Fund (XLC) and iShares Global Comm Services ETF (IXP) have volatilities of 3.70% and 3.68%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XLCIXPDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.70%

3.68%

+0.02%

Volatility (6M)

Calculated over the trailing 6-month period

9.66%

10.66%

-1.00%

Volatility (1Y)

Calculated over the trailing 1-year period

13.28%

14.67%

-1.39%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.69%

19.01%

+1.68%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.18%

18.52%

+3.66%

XLC vs. IXP - Expense Ratio Comparison

XLC has a 0.13% expense ratio, which is lower than IXP's 0.43% expense ratio.

Dividends

XLC vs. IXP - Dividend Comparison

XLC's dividend yield for the trailing twelve months is around 1.25%, less than IXP's 3.04% yield.

PositionTTM20252024202320222021202020192018201720162015
IXP
iShares Global Comm Services ETF		3.04%2.98%1.35%1.24%0.62%1.80%0.95%2.18%4.32%3.41%4.02%3.89%
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 IXP have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

XLC has higher volatility (3.70%) compared to IXP (3.68%). In terms of maximum drawdown, XLC dropped -46.65% vs IXP's -50.11%.

On 5-year performance, IXP leads with 8.31% vs 8.12% for XLC. On fees, XLC is cheaper at 0.13% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, IXP has performed better with a 8.31% return vs 8.12%. 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 0.43% for IXP.

IXP has the higher dividend yield at 3.04%, compared with 1.25% for XLC.

XLC is categorized as Communications Equities, while IXP is Large Cap Growth Equities. XLC tracks S&P Communication Services Select Sector Index, while IXP tracks S&P Global 1200 Communication Services 4.5/22.5/45 Capped. They also come from different issuers: State Street and iShares. Their fees differ too: 0.13% for XLC and 0.43% for IXP.

IXP currently has the higher Sharpe Ratio (0.86 vs 0.65), 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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