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XLF vs. IYT
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XLF vs. IYT

Last updated Jun 14, 2026

XLF (State Street Financial Select Sector SPDR ETF) and IYT (iShares Transportation Average ETF) are both exchange-traded funds - XLF is a Financials Equities fund tracking the Financial Select Sector Index, while IYT is a Transportation Equities fund tracking the Dow Jones Transportation Average Index. Both are passively managed. Over the past 10 years, XLF returned 13.33%/yr vs 11.08%/yr for IYT. A 0.71 correlation means they provide meaningful diversification when combined. XLF charges 0.08%/yr vs 0.42%/yr for IYT.

Performance

XLF vs. IYT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Financial Select Sector SPDR ETF (XLF) and iShares Transportation Average ETF (IYT). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XLF achieves a -2.11% return, which is significantly lower than IYT's 16.53% return. Over the past 10 years, XLF has outperformed IYT with an annualized return of 13.33%, while IYT has yielded a comparatively lower 11.08% annualized return.

XLF

1D
1.37%
1M
4.00%
YTD
-2.11%
6M
-2.09%
1Y
8.41%
3Y*
18.86%
5Y*
9.15%
10Y*
13.33%

IYT

1D
0.45%
1M
7.88%
YTD
16.53%
6M
13.90%
1Y
34.06%
3Y*
14.84%
5Y*
6.47%
10Y*
11.08%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XLF vs. IYT - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XLF
State Street Financial Select Sector SPDR ETF		-2.11%14.90%30.56%12.03%-10.59%34.80%-1.74%31.88%-13.06%22.00%
IYT
iShares Transportation Average ETF		16.53%11.48%4.10%24.62%-21.74%26.41%14.20%20.11%-12.87%18.89%

Correlation

The correlation between XLF and IYT is 0.62, 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

0.62

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

0.64

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

0.71

Correlation (10Y)
Calculated over the trailing 10-year period

0.72

Correlation (All Time)
Calculated using the full available price history since Oct 10, 2003

0.71

The correlation between XLF and IYT has been stable across timeframes, ranging from 0.62 to 0.72 - a consistent structural relationship.

XLF vs. IYT - Sectors Allocation Comparison

Sectors
XLF
IYT

Financial Services

98.0%

-

Technology

1.8%
15.6%

Industrials

0.2%
84.4%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

-

Real Estate

-

-

Utilities

-

-

Financial Services

XLF
98.0%
IYT

-

Technology

XLF
1.8%
IYT
15.6%

Industrials

XLF
0.2%
IYT
84.4%

Basic Materials

XLF

-

IYT

-

Communication Services

XLF

-

IYT

-

Consumer Cyclical

XLF

-

IYT

-

Consumer Defensive

XLF

-

IYT

-

Energy

XLF

-

IYT

-

Healthcare

XLF

-

IYT

-

Real Estate

XLF

-

IYT

-

Utilities

XLF

-

IYT

-

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 Financial Select Sector SPDR ETF

iShares Transportation Average ETF

Often compared with XLF:
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Often compared with IYT:
IYT vs. XTNIYT vs. SPYIYT vs. FTXRIYT vs. QQQIYT vs. XLIIYT vs. UNPIYT vs. WBA

Return for Risk

XLF vs. IYT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XLF
XLF Risk / Return Rank: 1515
Overall Rank
XLF Sharpe Ratio Rank: 1717
Sharpe Ratio Rank
XLF Sortino Ratio Rank: 1515
Sortino Ratio Rank
XLF Omega Ratio Rank: 1515
Omega Ratio Rank
XLF Calmar Ratio Rank: 1515
Calmar Ratio Rank
XLF Martin Ratio Rank: 1515
Martin Ratio Rank
IYT
IYT Risk / Return Rank: 5353
Overall Rank
IYT Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
IYT Sortino Ratio Rank: 5151
Sortino Ratio Rank
IYT Omega Ratio Rank: 4949
Omega Ratio Rank
IYT Calmar Ratio Rank: 6161
Calmar Ratio Rank
IYT Martin Ratio Rank: 5656
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.

XLF vs. IYT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Financial Select Sector SPDR ETF (XLF) and iShares Transportation Average ETF (IYT). 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.

XLFIYTDifference
Sharpe ratioReturn per unit of total volatility
0.42
1.54

-1.12

Sortino ratioReturn per unit of downside risk
0.67
2.19

-1.52

Omega ratioGain probability vs. loss probability

1.08

1.27

-0.19

Calmar ratioReturn relative to maximum drawdown

0.42

2.63

-2.21

Martin ratioReturn relative to average drawdown

1.08

8.56

-7.48

XLF vs. IYT - Sharpe Ratio Comparison

The current XLF Sharpe Ratio is 0.42, which is lower than the IYT Sharpe Ratio of 1.54. The chart below compares the historical Sharpe Ratios of XLF and IYT, 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

XLF vs. IYT - Drawdown Comparison

The maximum XLF drawdown since its inception was -82.69%, which is greater than IYT's maximum drawdown of -60.39%. Use the drawdown chart below to compare losses from any high point for XLF and IYT.

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Drawdown Indicators

XLFIYTDifference

Max Drawdown

Largest peak-to-trough decline

-82.69%

-60.39%

-22.30%

Max Drawdown (1Y)

Largest decline over 1 year

-14.79%

-12.09%

-2.70%

Max Drawdown (3Y)

Largest decline over 3 years

-15.54%

-26.35%

+10.81%

Max Drawdown (5Y)

Largest decline over 5 years

-25.81%

-29.15%

+3.34%

Max Drawdown (10Y)

Largest decline over 10 years

-42.86%

-41.28%

-1.58%

Current Drawdown

Current decline from peak

-4.94%

0.00%

-4.94%

Average Drawdown

Average peak-to-trough decline

-20.01%

-9.30%

-10.71%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.76%

3.71%

+2.05%

Volatility

XLF vs. IYT - Volatility Comparison

The current volatility for State Street Financial Select Sector SPDR ETF (XLF) is 4.23%, while iShares Transportation Average ETF (IYT) has a volatility of 6.45%. This indicates that XLF experiences smaller price fluctuations and is considered to be less risky than IYT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XLFIYTDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.23%

6.45%

-2.22%

Volatility (6M)

Calculated over the trailing 6-month period

11.26%

15.94%

-4.68%

Volatility (1Y)

Calculated over the trailing 1-year period

14.69%

20.61%

-5.92%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.66%

22.38%

-3.72%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.17%

23.18%

-1.01%

XLF vs. IYT - Expense Ratio Comparison

XLF has a 0.08% expense ratio, which is lower than IYT's 0.42% expense ratio.

Dividends

XLF vs. IYT - Dividend Comparison

XLF's dividend yield for the trailing twelve months is around 1.49%, more than IYT's 0.93% yield.

PositionTTM20252024202320222021202020192018201720162015
IYT
iShares Transportation Average ETF		0.93%1.00%1.08%1.26%1.40%0.77%0.93%1.29%1.35%0.92%0.96%1.28%
XLF
State Street Financial Select Sector SPDR ETF		1.49%1.31%1.42%1.71%2.04%1.63%2.03%1.87%2.08%1.48%21.10%1.95%

Frequently Asked Questions

XLF and IYT have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IYT has higher volatility (6.45%) compared to XLF (4.23%). In terms of maximum drawdown, XLF dropped -82.69% vs IYT's -60.39%.

On 10-year performance, XLF leads with 13.33% vs 11.08% for IYT. On fees, XLF is cheaper at 0.08% per year. On volatility, XLF has been the lower-risk option at 4.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, XLF has performed better with a 13.33% return vs 11.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

XLF is cheaper with a 0.08% expense ratio, compared with 0.42% for IYT.

XLF has the higher dividend yield at 1.49%, compared with 0.93% for IYT.

XLF is categorized as Financials Equities, while IYT is Transportation Equities. XLF tracks Financial Select Sector Index, while IYT tracks Dow Jones Transportation Average Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.08% for XLF and 0.42% for IYT.

IYT currently has the higher Sharpe Ratio (1.54 vs 0.42), 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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