XLI vs. BNDX
XLI (Industrial Select Sector SPDR Fund) and BNDX (Vanguard Total International Bond ETF) are both exchange-traded funds - XLI is a Industrials Equities fund tracking the Industrial Select Sector Index, while BNDX is a Global Bonds fund tracking the Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged). Both are passively managed. Over the past 10 years, XLI returned 14.15%/yr vs 1.72%/yr for BNDX. At a correlation of -0.01, they often move in opposite directions. XLI charges 0.08%/yr vs 0.07%/yr for BNDX.
Performance
XLI vs. BNDX - Performance Comparison
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Returns By Period
In the year-to-date period, XLI achieves a 13.90% return, which is significantly higher than BNDX's 1.02% return. Over the past 10 years, XLI has outperformed BNDX with an annualized return of 14.15%, while BNDX has yielded a comparatively lower 1.72% annualized return.
XLI
- 1D
- 0.59%
- 1M
- 0.96%
- YTD
- 13.90%
- 6M
- 13.10%
- 1Y
- 25.17%
- 3Y*
- 20.87%
- 5Y*
- 12.93%
- 10Y*
- 14.15%
BNDX
- 1D
- 0.17%
- 1M
- 0.85%
- YTD
- 1.02%
- 6M
- 1.22%
- 1Y
- 2.27%
- 3Y*
- 4.32%
- 5Y*
- 0.32%
- 10Y*
- 1.72%
XLI vs. BNDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XLI Industrial Select Sector SPDR Fund | 13.90% | 19.35% | 17.31% | 18.13% | -5.57% | 21.08% | 10.91% | 29.08% | -13.25% | 23.98% |
BNDX Vanguard Total International Bond ETF | 1.02% | 2.86% | 3.57% | 8.77% | -12.76% | -2.29% | 4.65% | 7.87% | 2.81% | 2.40% |
Correlation
The correlation between XLI and BNDX is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2013 | -0.01 |
The correlation between XLI and BNDX shifts across timeframes, from -0.01 (all time) to 0.34 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
XLI vs. BNDX — Risk / Return Rank
XLI
BNDX
XLI vs. BNDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Industrial Select Sector SPDR Fund (XLI) and Vanguard Total International Bond ETF (BNDX). 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.
| XLI | BNDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.94 | ||
| Sortino ratioReturn per unit of downside risk | +1.36 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.10 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.98 | 0.66 | +1.32 |
| Martin ratioReturn relative to average drawdown | 7.82 | 1.84 | +5.97 |
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Drawdowns
XLI vs. BNDX - Drawdown Comparison
The maximum XLI drawdown since its inception was -62.26%, which is greater than BNDX's maximum drawdown of -16.23%. Use the drawdown chart below to compare losses from any high point for XLI and BNDX.
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Drawdown Indicators
| XLI | BNDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.26% | -16.23% | -46.03% |
Max Drawdown (1Y)Largest decline over 1 year | -12.21% | -2.93% | -9.28% |
Max Drawdown (3Y)Largest decline over 3 years | -18.49% | -2.93% | -15.56% |
Max Drawdown (5Y)Largest decline over 5 years | -21.64% | -15.86% | -5.78% |
Max Drawdown (10Y)Largest decline over 10 years | -42.33% | -16.23% | -26.10% |
Current DrawdownCurrent decline from peak | -1.24% | -1.02% | -0.22% |
Average DrawdownAverage peak-to-trough decline | -9.20% | -3.10% | -6.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.09% | 1.05% | +2.04% |
Volatility
XLI vs. BNDX - Volatility Comparison
Industrial Select Sector SPDR Fund (XLI) has a higher volatility of 6.22% compared to Vanguard Total International Bond ETF (BNDX) at 1.49%. This indicates that XLI's price experiences larger fluctuations and is considered to be riskier than BNDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XLI | BNDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.22% | 1.49% | +4.73% |
Volatility (6M)Calculated over the trailing 6-month period | 13.59% | 2.96% | +10.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.17% | 3.47% | +12.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.55% | 4.89% | +12.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.04% | 4.10% | +15.94% |
XLI vs. BNDX - Expense Ratio Comparison
XLI has a 0.08% expense ratio, which is higher than BNDX's 0.07% 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
XLI vs. BNDX - Dividend Comparison
XLI's dividend yield for the trailing twelve months is around 1.16%, less than BNDX's 4.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BNDX Vanguard Total International Bond ETF | 4.47% | 4.39% | 4.18% | 4.42% | 1.51% | 3.74% | 1.11% | 3.40% | 3.01% | 2.23% | 1.89% | 1.63% |
XLI Industrial Select Sector SPDR Fund | 1.16% | 1.29% | 1.44% | 1.63% | 1.63% | 1.25% | 1.55% | 1.94% | 2.15% | 1.77% | 2.07% | 2.15% |
Frequently Asked Questions
XLI and BNDX have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XLI has higher volatility (6.22%) compared to BNDX (1.49%). In terms of maximum drawdown, XLI dropped -62.26% vs BNDX's -16.23%.
On 10-year performance, XLI leads with 14.15% vs 1.72% for BNDX. On fees, BNDX is cheaper at 0.07% per year. On volatility, BNDX has been the lower-risk option at 1.49%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, XLI has performed better with a 14.15% return vs 1.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BNDX is cheaper with a 0.07% expense ratio, compared with 0.08% for XLI.
BNDX has the higher dividend yield at 4.47%, compared with 1.16% for XLI.
XLI is categorized as Industrials Equities, while BNDX is Global Bonds. XLI tracks Industrial Select Sector Index, while BNDX tracks Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged). They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.08% for XLI and 0.07% for BNDX.
XLI currently has the higher Sharpe Ratio (1.50 vs 0.56), 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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