XLG vs. ASEA

Last updated Jul 26, 2026

XLG (Invesco S&P 500 Top 50 ETF) and ASEA (Global X FTSE Southeast Asia ETF) are both exchange-traded funds - XLG is a S&P 500 fund tracking the S&P 500 Top 50 Index, while ASEA is a Asia Pacific Equities fund tracking the FTSE/ASEAN 40 Index. Both are passively managed. Over the past 10 years, XLG returned 16.25%/yr vs 7.65%/yr for ASEA. Their 0.52 correlation means they have sometimes moved together and sometimes differently. XLG charges 0.20%/yr vs 0.65%/yr for ASEA.

Performance

XLG vs. ASEA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 Top 50 ETF (XLG) and Global X FTSE Southeast Asia ETF (ASEA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XLG achieves a 1.55% return, which is significantly lower than ASEA's 16.39% return. Over the past 10 years, XLG has outperformed ASEA with an annualized return of 16.25%, while ASEA has yielded a comparatively lower 7.65% annualized return.

XLG

• 1D: -0.22%
• 1M: 0.71%
• 6M: 2.67%
• YTD: 1.55%
• 1Y: 12.21%
• 3Y*: 19.71%
• 5Y*: 13.16%
• 10Y*: 16.25%
• ALL TIME*: 11.26%

ASEA

• 1D: 0.43%
• 1M: 7.14%
• 6M: 9.57%
• YTD: 16.39%
• 1Y: 28.24%
• 3Y*: 15.76%
• 5Y*: 12.90%
• 10Y*: 7.65%
• ALL TIME*: 5.30%

*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)
ASEA Global X FTSE Southeast Asia ETF	$593.31K	$523.08K	$605.79K
XLG Invesco S&P 500 Top 50 ETF	$60.47M	$91.92M	$104.94M

XLG vs. ASEA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XLG Invesco S&P 500 Top 50 ETF	1.55%	19.51%	33.49%	38.16%	-24.29%	30.77%	24.15%	32.04%	-3.59%	23.04%
ASEA Global X FTSE Southeast Asia ETF	16.39%	19.80%	9.82%	4.88%	5.24%	4.66%	-7.88%	8.34%	-7.58%	35.06%

Correlation

The correlation between XLG and ASEA is 0.45, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.45
Correlation (3Y) Balances recent behavior with more history.	0.40
Correlation (5Y) Shows whether the relationship held over a longer period.	0.44
Correlation (10Y) Provides a long-term view across more market conditions.	0.45
Correlation (All Time) Calculated using the full available price history since Feb 17, 2011	0.52

The correlation between XLG and ASEA shifts across timeframes, from 0.40 (3 years) to 0.52 (all time), reflecting how their relationship changes across market environments.

XLG vs. ASEA - Sectors Allocation Comparison

Sectors	XLG	ASEA
Technology	49.5%	-
Communication Services	13.5%	8.0%
Consumer Cyclical	10.0%	0.7%
Financial Services	9.7%	60.3%
Healthcare	6.6%	2.2%
Consumer Defensive	5.0%	2.1%
Industrials	2.9%	15.6%
Energy	2.2%	3.2%
Utilities	0.8%	4.3%
Basic Materials	0.6%	1.5%
Real Estate	-	2.8%

Return for Risk

XLG vs. ASEA — Risk / Return Rank

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

XLG

XLG Risk / Return Rank: 34
XLG Sharpe Ratio Rank: 36
XLG Sortino Ratio Rank: 34
XLG Omega Ratio Rank: 34
XLG Calmar Ratio Rank: 31
XLG Martin Ratio Rank: 34

ASEA

ASEA Risk / Return Rank: 80
ASEA Sharpe Ratio Rank: 82
ASEA Sortino Ratio Rank: 84
ASEA Omega Ratio Rank: 79
ASEA Calmar Ratio Rank: 85
ASEA Martin Ratio Rank: 71

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.

XLG vs. ASEA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Top 50 ETF (XLG) and Global X FTSE Southeast Asia ETF (ASEA). 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.

	XLG	ASEA	Difference
Sharpe ratio: Return per unit of total volatility	0.88	1.89	-1.01
Sortino ratio: Return per unit of downside risk	1.28	2.74	-1.45
Omega ratio: Gain probability vs. loss probability	1.16	1.33	-0.17
Calmar ratio: Return relative to maximum drawdown	1.02	3.33	-2.31
Martin ratio: Return relative to average drawdown	3.29	8.85	-5.55

XLG vs. ASEA - Sharpe Ratio Comparison

The current XLG Sharpe Ratio is 0.88, which is lower than the ASEA Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of XLG and ASEA, 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

XLG vs. ASEA - Drawdown Comparison

The maximum XLG drawdown since its inception was -52.39%, which is greater than ASEA's maximum drawdown of -44.16%. Use the drawdown chart below to compare losses from any high point for XLG and ASEA.

Drawdown Indicators

	XLG	ASEA	Difference
Max Drawdown Largest peak-to-trough decline	-52.39%	-44.16%	-8.23%
Max Drawdown (1Y) Largest decline over 1 year	-12.41%	-8.28%	-4.13%
Max Drawdown (3Y) Largest decline over 3 years	-20.70%	-22.20%	+1.50%
Max Drawdown (5Y) Largest decline over 5 years	-28.02%	-22.20%	-5.82%
Max Drawdown (10Y) Largest decline over 10 years	-30.46%	-44.16%	+13.70%
Current Drawdown Current decline from peak	-6.96%	-1.04%	-5.92%
Average Drawdown Average peak-to-trough decline	-7.62%	-10.58%	+2.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.84%	3.13%	+0.71%

Volatility

XLG vs. ASEA - Volatility Comparison

Invesco S&P 500 Top 50 ETF (XLG) has a higher volatility of 4.47% compared to Global X FTSE Southeast Asia ETF (ASEA) at 3.50%. This indicates that XLG's price experiences larger fluctuations and is considered to be riskier than ASEA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XLG	ASEA	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.47%	3.50%	+0.97%
Volatility (6M) Calculated over the trailing 6-month period	11.10%	11.74%	-0.64%
Volatility (1Y) Calculated over the trailing 1-year period	14.39%	14.59%	-0.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.84%	14.72%	+4.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.89%	17.49%	+1.40%

XLG vs. ASEA - Expense Ratio Comparison

XLG has a 0.20% expense ratio, which is lower than ASEA's 0.65% expense ratio.

Dividends

XLG vs. ASEA - Dividend Comparison

XLG's dividend yield for the trailing twelve months is around 0.66%, less than ASEA's 3.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASEA Global X FTSE Southeast Asia ETF	3.71%	3.95%	3.61%	3.76%	2.23%	4.19%	2.27%	2.51%	3.08%	1.59%	2.78%	3.64%
XLG Invesco S&P 500 Top 50 ETF	0.66%	0.64%	0.72%	0.97%	1.34%	0.94%	1.25%	1.58%	2.00%	1.85%	2.00%	2.09%

Frequently Asked Questions

Can I hold both XLG and ASEA in my portfolio?

XLG and ASEA have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XLG or ASEA?

XLG has higher volatility (4.47%) compared to ASEA (3.50%). In terms of maximum drawdown, XLG dropped -52.39% vs ASEA's -44.16%.

Which ETF is better, XLG or ASEA?

On 10-year performance, XLG leads with 16.25% vs 7.65% for ASEA. On fees, XLG is cheaper at 0.20% per year. On volatility, ASEA has been the lower-risk option at 3.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XLG or ASEA?

Over the 10-year period, XLG has performed better with a 16.25% return vs 7.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XLG or ASEA?

XLG is cheaper with a 0.20% expense ratio, compared with 0.65% for ASEA.

Which ETF pays a higher dividend yield, XLG or ASEA?

ASEA has the higher dividend yield at 3.71%, compared with 0.66% for XLG.

What is the main difference between XLG and ASEA?

XLG is categorized as S&P 500, while ASEA is Asia Pacific Equities. XLG tracks S&P 500 Top 50 Index, while ASEA tracks FTSE/ASEAN 40 Index. They also come from different issuers: Invesco and Global X. Their fees differ too: 0.20% for XLG and 0.65% for ASEA.

Which has better risk-adjusted returns?

ASEA currently has the higher Sharpe Ratio (1.89 vs 0.88), 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.