XLFI vs. XLF

Last updated Aug 2, 2026

XLFI (State Street Financial Select Sector SPDR Premium Income ETF) and XLF (State Street Financial Select Sector SPDR ETF) are both exchange-traded funds - XLFI is a Derivative Income fund actively managed by State Street, while XLF is a Financials Equities fund tracking the Financial Select Sector Index. XLFI is actively managed, while XLF is passively managed. Over the past year, XLFI returned 11.31% vs 12.50% for XLF. Their 0.97 correlation means they have historically moved very closely together. XLFI charges 0.35%/yr vs 0.08%/yr for XLF.

Performance

XLFI vs. XLF - Performance Comparison

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

Returns By Period

In the year-to-date period, XLFI achieves a 3.17% return, which is significantly lower than XLF's 4.86% return.

XLFI

• 1D: -0.41%
• 1M: 2.09%
• 6M: 4.95%
• YTD: 3.17%
• 1Y: 11.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 8.72%

XLF

• 1D: -0.11%
• 1M: 2.37%
• 6M: 7.47%
• YTD: 4.86%
• 1Y: 12.50%
• 3Y*: 19.11%
• 5Y*: 11.20%
• 10Y*: 13.69%
• ALL TIME*: 6.09%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
XLF State Street Financial Select Sector SPDR ETF	$1.84B	$1.93B	$1.92B
XLFI State Street Financial Select Sector SPDR Premium Income ETF	$205.39K	$226.21K	$175.11K

XLFI vs. XLF - Yearly Performance Comparison

	2026 (YTD)	2025
XLFI State Street Financial Select Sector SPDR Premium Income ETF	3.17%	5.40%
XLF State Street Financial Select Sector SPDR ETF	4.86%	4.44%

Correlation

The correlation between XLFI and XLF is 0.97 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.97
Correlation (All Time) Calculated using the full available price history since Jul 30, 2025	0.97

The correlation between XLFI and XLF has been stable across timeframes, ranging from 0.97 to 0.97 - a consistent structural relationship.

XLFI vs. XLF - Sectors Allocation Comparison

Sectors	XLFI	XLF
Financial Services	100.4%	98.2%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	0.2%
Real Estate	-	-
Technology	-	1.6%
Utilities	-	-

Return for Risk

XLFI vs. XLF — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

XLFI

XLFI Risk / Return Rank: 29
XLFI Sharpe Ratio Rank: 33
XLFI Sortino Ratio Rank: 29
XLFI Omega Ratio Rank: 31
XLFI Calmar Ratio Rank: 26
XLFI Martin Ratio Rank: 27

XLF

XLF Risk / Return Rank: 27
XLF Sharpe Ratio Rank: 29
XLF Sortino Ratio Rank: 28
XLF Omega Ratio Rank: 28
XLF Calmar Ratio Rank: 24
XLF Martin Ratio Rank: 24

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

XLFI vs. XLF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Financial Select Sector SPDR Premium Income ETF (XLFI) and State Street Financial Select Sector SPDR ETF (XLF). 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.

	XLFI	XLF	Difference
Sharpe ratio: Return per unit of total volatility	0.81	0.71	+0.10
Sortino ratio: Return per unit of downside risk	1.12	1.05	+0.07
Omega ratio: Gain probability vs. loss probability	1.15	1.13	+0.02
Calmar ratio: Return relative to maximum drawdown	0.80	0.71	+0.10
Martin ratio: Return relative to average drawdown	2.26	1.80	+0.46

XLFI vs. XLF - Sharpe Ratio Comparison

The current XLFI Sharpe Ratio is 0.81, which is comparable to the XLF Sharpe Ratio of 0.71. The chart below compares the historical Sharpe Ratios of XLFI and XLF, 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

XLFI vs. XLF - Drawdown Comparison

The maximum XLFI drawdown since its inception was -11.89%, smaller than the maximum XLF drawdown of -82.69%. Use the drawdown chart below to compare losses from any high point for XLFI and XLF.

Drawdown Indicators

	XLFI	XLF	Difference
Max Drawdown Largest peak-to-trough decline	-11.89%	-82.69%	+70.80%
Max Drawdown (1Y) Largest decline over 1 year	-11.89%	-14.79%	+2.90%
Max Drawdown (3Y) Largest decline over 3 years	—	-15.54%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-25.81%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-42.86%	—
Current Drawdown Current decline from peak	-1.11%	-1.15%	+0.04%
Average Drawdown Average peak-to-trough decline	-3.02%	-19.92%	+16.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.22%	5.79%	-1.57%

Volatility

XLFI vs. XLF - Volatility Comparison

The current volatility for State Street Financial Select Sector SPDR Premium Income ETF (XLFI) is 2.78%, while State Street Financial Select Sector SPDR ETF (XLF) has a volatility of 4.07%. This indicates that XLFI experiences smaller price fluctuations and is considered to be less risky than XLF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XLFI	XLF	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.78%	4.07%	-1.29%
Volatility (6M) Calculated over the trailing 6-month period	9.08%	11.10%	-2.02%
Volatility (1Y) Calculated over the trailing 1-year period	11.88%	14.77%	-2.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.85%	18.45%	-6.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.85%	22.08%	-10.23%

XLFI vs. XLF - Expense Ratio Comparison

XLFI has a 0.35% expense ratio, which is higher than XLF's 0.08% expense ratio.

Dividends

XLFI vs. XLF - Dividend Comparison

XLFI's dividend yield for the trailing twelve months is around 11.29%, more than XLF's 1.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
XLF State Street Financial Select Sector SPDR ETF	1.42%	1.31%	1.42%	1.71%	2.04%	1.63%	2.03%	1.87%	2.08%	1.48%	21.10%	1.95%
XLFI State Street Financial Select Sector SPDR Premium Income ETF	11.29%	5.57%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XLFI and XLF in my portfolio?

With a correlation of 0.97, XLFI and XLF move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, XLFI or XLF?

XLF has higher volatility (4.07%) compared to XLFI (2.78%). In terms of maximum drawdown, XLFI dropped -11.89% vs XLF's -82.69%.

Which ETF is better, XLFI or XLF?

On 1-year performance, XLF leads with 12.50% vs 11.31% for XLFI. On fees, XLF is cheaper at 0.08% per year. On volatility, XLFI has been the lower-risk option at 2.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XLFI or XLF?

Over the 1-year period, XLF has performed better with a 12.50% return vs 11.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XLFI or XLF?

XLF is cheaper with a 0.08% expense ratio, compared with 0.35% for XLFI.

Which ETF pays a higher dividend yield, XLFI or XLF?

XLFI has the higher dividend yield at 11.29%, compared with 1.42% for XLF.

What is the main difference between XLFI and XLF?

XLFI is categorized as Derivative Income, while XLF is Financials Equities. Their fees differ too: 0.35% for XLFI and 0.08% for XLF.

Which has better risk-adjusted returns?

XLFI currently has the higher Sharpe Ratio (0.81 vs 0.71), 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.