XLG vs. USSG

Last updated Aug 4, 2026

XLG (Invesco S&P 500 Top 50 ETF) and USSG (Xtrackers MSCI USA ESG Leaders Equity ETF) are both exchange-traded funds - XLG is a S&P 500 fund tracking the S&P 500 Top 50 Index, while USSG is a Large Cap Growth Equities fund tracking the MSCI USA ESG Leaders. Both are passively managed. Over the past 5 years, XLG returned 14.02%/yr vs 13.20%/yr for USSG. Their correlation of 0.94 means they have usually moved in the same direction. XLG charges 0.20%/yr vs 0.10%/yr for USSG.

Performance

XLG vs. USSG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 Top 50 ETF (XLG) and Xtrackers MSCI USA ESG Leaders Equity ETF (USSG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XLG achieves a 4.68% return, which is significantly lower than USSG's 12.11% return.

XLG

• 1D: 1.74%
• 1M: 1.81%
• 6M: 4.68%
• YTD: 4.68%
• 1Y: 17.86%
• 3Y*: 21.61%
• 5Y*: 14.02%
• 10Y*: 16.44%
• ALL TIME*: 11.40%

USSG

• 1D: 1.76%
• 1M: 2.38%
• 6M: 10.14%
• YTD: 12.11%
• 1Y: 24.23%
• 3Y*: 21.35%
• 5Y*: 13.20%
• 10Y*: —
• ALL TIME*: 16.81%

*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)
USSG Xtrackers MSCI USA ESG Leaders Equity ETF	$1.13M	$1.02M	$843.44K
XLG Invesco S&P 500 Top 50 ETF	$59.56M	$59.06M	$102.51M

XLG vs. USSG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
XLG Invesco S&P 500 Top 50 ETF	4.68%	19.51%	33.49%	38.16%	-24.29%	30.77%	24.15%	19.57%
USSG Xtrackers MSCI USA ESG Leaders Equity ETF	12.11%	18.97%	23.45%	29.17%	-20.33%	31.83%	18.71%	19.24%

Correlation

The correlation between XLG and USSG is 0.90, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.90
Correlation (3Y) Balances recent behavior with more history.	0.92
Correlation (5Y) Shows whether the relationship held over a longer period.	0.94
Correlation (All Time) Calculated using the full available price history since Mar 7, 2019	0.94

The correlation between XLG and USSG has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.

XLG vs. USSG - Sectors Allocation Comparison

Sectors	XLG	USSG
Technology	49.8%	35.5%
Communication Services	13.0%	12.8%
Financial Services	10.3%	10.6%
Consumer Cyclical	9.3%	9.4%
Healthcare	6.8%	10.3%
Consumer Defensive	5.1%	5.3%
Energy	2.5%	1.9%
Industrials	1.9%	9.2%
Utilities	0.7%	1.0%
Basic Materials	0.6%	1.9%
Real Estate	-	2.0%

Return for Risk

XLG vs. USSG — Risk / Return Rank

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

XLG

XLG Risk / Return Rank: 45
XLG Sharpe Ratio Rank: 49
XLG Sortino Ratio Rank: 48
XLG Omega Ratio Rank: 47
XLG Calmar Ratio Rank: 41
XLG Martin Ratio Rank: 42

USSG

USSG Risk / Return Rank: 68
USSG Sharpe Ratio Rank: 71
USSG Sortino Ratio Rank: 71
USSG Omega Ratio Rank: 68
USSG Calmar Ratio Rank: 59
USSG Martin Ratio Rank: 69

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.

XLG vs. USSG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Top 50 ETF (XLG) and Xtrackers MSCI USA ESG Leaders Equity ETF (USSG). 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	USSG	Difference
Sharpe ratio: Return per unit of total volatility	1.22	1.72	-0.50
Sortino ratio: Return per unit of downside risk	1.74	2.43	-0.68
Omega ratio: Gain probability vs. loss probability	1.22	1.30	-0.08
Calmar ratio: Return relative to maximum drawdown	1.44	2.17	-0.73
Martin ratio: Return relative to average drawdown	4.49	8.91	-4.41

XLG vs. USSG - Sharpe Ratio Comparison

The current XLG Sharpe Ratio is 1.22, which is comparable to the USSG Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of XLG and USSG, 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. USSG - Drawdown Comparison

The maximum XLG drawdown since its inception was -52.39%, which is greater than USSG's maximum drawdown of -34.10%. Use the drawdown chart below to compare losses from any high point for XLG and USSG.

Drawdown Indicators

	XLG	USSG	Difference
Max Drawdown Largest peak-to-trough decline	-52.39%	-34.10%	-18.29%
Max Drawdown (1Y) Largest decline over 1 year	-12.41%	-11.20%	-1.21%
Max Drawdown (3Y) Largest decline over 3 years	-20.70%	-20.00%	-0.70%
Max Drawdown (5Y) Largest decline over 5 years	-28.02%	-27.00%	-1.02%
Max Drawdown (10Y) Largest decline over 10 years	-30.46%	—	—
Current Drawdown Current decline from peak	-4.09%	0.00%	-4.09%
Average Drawdown Average peak-to-trough decline	-7.62%	-5.51%	-2.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.98%	2.73%	+1.25%

Volatility

XLG vs. USSG - Volatility Comparison

Invesco S&P 500 Top 50 ETF (XLG) has a higher volatility of 5.30% compared to Xtrackers MSCI USA ESG Leaders Equity ETF (USSG) at 4.34%. This indicates that XLG's price experiences larger fluctuations and is considered to be riskier than USSG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XLG	USSG	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.30%	4.34%	+0.96%
Volatility (6M) Calculated over the trailing 6-month period	11.66%	11.32%	+0.34%
Volatility (1Y) Calculated over the trailing 1-year period	14.73%	14.18%	+0.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.91%	17.76%	+1.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.93%	20.09%	-1.16%

XLG vs. USSG - Expense Ratio Comparison

XLG has a 0.20% expense ratio, which is higher than USSG's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

XLG vs. USSG - Dividend Comparison

XLG's dividend yield for the trailing twelve months is around 0.64%, less than USSG's 0.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
USSG Xtrackers MSCI USA ESG Leaders Equity ETF	0.96%	1.02%	1.13%	1.60%	1.52%	1.13%	1.42%	1.21%	0.00%	0.00%	0.00%	0.00%
XLG Invesco S&P 500 Top 50 ETF	0.64%	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 USSG in my portfolio?

XLG and USSG have a correlation of 0.90, 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 USSG?

XLG has higher volatility (5.30%) compared to USSG (4.34%). In terms of maximum drawdown, XLG dropped -52.39% vs USSG's -34.10%.

Which ETF is better, XLG or USSG?

On 5-year performance, XLG leads with 14.02% vs 13.20% for USSG. On fees, USSG is cheaper at 0.10% per year. On volatility, USSG has been the lower-risk option at 4.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XLG or USSG?

Over the 5-year period, XLG has performed better with a 14.02% return vs 13.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XLG or USSG?

USSG is cheaper with a 0.10% expense ratio, compared with 0.20% for XLG.

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

USSG has the higher dividend yield at 0.96%, compared with 0.64% for XLG.

What is the main difference between XLG and USSG?

XLG is categorized as S&P 500, while USSG is Large Cap Growth Equities. XLG tracks S&P 500 Top 50 Index, while USSG tracks MSCI USA ESG Leaders. They also come from different issuers: Invesco and Deutsche Bank. Their fees differ too: 0.20% for XLG and 0.10% for USSG.

Which has better risk-adjusted returns?

USSG currently has the higher Sharpe Ratio (1.72 vs 1.22), 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.