XLG vs. OEF
XLG (Invesco S&P 500 Top 50 ETF) and OEF (iShares S&P 100 ETF) are both exchange-traded funds - XLG is a S&P 500 fund tracking the S&P 500 Top 50 Index, while OEF is a Large Cap Blend Equities fund tracking the S&P 100 Index. Both are passively managed. Over the past 10 years, XLG returned 16.94%/yr vs 16.63%/yr for OEF. With a 0.98 correlation, they move nearly in lockstep. Both charge a 0.20% expense ratio.
Performance
XLG vs. OEF - Performance Comparison
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Returns By Period
In the year-to-date period, XLG achieves a 1.60% return, which is significantly lower than OEF's 5.60% return. Both investments have delivered pretty close results over the past 10 years, with XLG having a 16.94% annualized return and OEF not far behind at 16.63%.
XLG
- 1D
- -1.88%
- 1M
- -5.41%
- YTD
- 1.60%
- 6M
- 0.73%
- 1Y
- 19.95%
- 3Y*
- 21.35%
- 5Y*
- 14.28%
- 10Y*
- 16.94%
OEF
- 1D
- -1.41%
- 1M
- -2.70%
- YTD
- 5.60%
- 6M
- 4.83%
- 1Y
- 23.70%
- 3Y*
- 22.31%
- 5Y*
- 14.45%
- 10Y*
- 16.63%
XLG vs. OEF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XLG Invesco S&P 500 Top 50 ETF | 1.60% | 19.51% | 33.49% | 38.16% | -24.29% | 30.77% | 24.15% | 32.04% | -3.59% | 23.04% |
OEF iShares S&P 100 ETF | 5.60% | 19.80% | 30.74% | 32.71% | -21.03% | 29.18% | 21.21% | 31.87% | -4.16% | 21.82% |
Correlation
The correlation between XLG and OEF is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since May 10, 2005 | 0.98 |
The correlation between XLG and OEF has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
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Return for Risk
XLG vs. OEF — Risk / Return Rank
XLG
OEF
XLG vs. OEF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Top 50 ETF (XLG) and iShares S&P 100 ETF (OEF). 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 | OEF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.34 | ||
| Sortino ratioReturn per unit of downside risk | -0.44 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.32 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.61 | 2.15 | -0.54 |
| Martin ratioReturn relative to average drawdown | 5.77 | 8.71 | -2.94 |
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Drawdowns
XLG vs. OEF - Drawdown Comparison
The maximum XLG drawdown since its inception was -52.39%, roughly equal to the maximum OEF drawdown of -54.11%. Use the drawdown chart below to compare losses from any high point for XLG and OEF.
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Drawdown Indicators
| XLG | OEF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.39% | -54.11% | +1.72% |
Max Drawdown (1Y)Largest decline over 1 year | -12.41% | -11.06% | -1.35% |
Max Drawdown (3Y)Largest decline over 3 years | -20.70% | -19.80% | -0.90% |
Max Drawdown (5Y)Largest decline over 5 years | -28.02% | -26.47% | -1.55% |
Max Drawdown (10Y)Largest decline over 10 years | -30.46% | -31.44% | +0.98% |
Current DrawdownCurrent decline from peak | -6.91% | -4.48% | -2.43% |
Average DrawdownAverage peak-to-trough decline | -7.63% | -11.74% | +4.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.46% | 2.73% | +0.73% |
Volatility
XLG vs. OEF - Volatility Comparison
Invesco S&P 500 Top 50 ETF (XLG) and iShares S&P 100 ETF (OEF) have volatilities of 5.04% and 5.27%, 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
| XLG | OEF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.04% | 5.27% | -0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 10.74% | 10.57% | +0.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.98% | 13.42% | +0.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.79% | 17.81% | +0.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.88% | 18.48% | +0.40% |
XLG vs. OEF - Expense Ratio Comparison
Both XLG and OEF have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
XLG vs. OEF - Dividend Comparison
XLG's dividend yield for the trailing twelve months is around 0.66%, less than OEF's 0.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
OEF iShares S&P 100 ETF | 0.89% | 0.81% | 1.03% | 1.19% | 1.55% | 1.06% | 1.43% | 1.87% | 2.09% | 1.81% | 2.07% | 2.11% |
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
With a correlation of 0.98, XLG and OEF 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.
OEF has higher volatility (5.27%) compared to XLG (5.04%). In terms of maximum drawdown, XLG dropped -52.39% vs OEF's -54.11%.
On 10-year performance, XLG leads with 16.94% vs 16.63% for OEF. Both ETFs have the same 0.20% expense ratio. On volatility, XLG has been the lower-risk option at 5.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, XLG has performed better with a 16.94% return vs 16.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XLG and OEF have the same expense ratio: 0.20% per year.
OEF has the higher dividend yield at 0.89%, compared with 0.66% for XLG.
XLG is categorized as S&P 500, while OEF is Large Cap Blend Equities. XLG tracks S&P 500 Top 50 Index, while OEF tracks S&P 100 Index. They also come from different issuers: Invesco and iShares.
OEF currently has the higher Sharpe Ratio (1.78 vs 1.44), 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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