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XLI vs. IAK
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XLI vs. IAK

Last updated Jun 14, 2026

XLI (Industrial Select Sector SPDR Fund) and IAK (iShares U.S. Insurance ETF) are both exchange-traded funds - XLI is a Industrials Equities fund tracking the Industrial Select Sector Index, while IAK is a Financials Equities fund tracking the Dow Jones U.S. Select Insurance Index. Both are passively managed. Over the past 10 years, XLI returned 14.15%/yr vs 12.67%/yr for IAK. A 0.72 correlation means they provide meaningful diversification when combined. XLI charges 0.08%/yr vs 0.43%/yr for IAK.

Performance

XLI vs. IAK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Industrial Select Sector SPDR Fund (XLI) and iShares U.S. Insurance ETF (IAK). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XLI achieves a 13.90% return, which is significantly higher than IAK's 1.11% return. Over the past 10 years, XLI has outperformed IAK with an annualized return of 14.15%, while IAK has yielded a comparatively lower 12.67% annualized return.

XLI

1D
0.59%
1M
2.79%
YTD
13.90%
6M
13.10%
1Y
25.17%
3Y*
20.87%
5Y*
12.93%
10Y*
14.15%

IAK

1D
0.68%
1M
2.70%
YTD
1.11%
6M
0.88%
1Y
5.16%
3Y*
18.27%
5Y*
13.37%
10Y*
12.67%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XLI vs. IAK - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
IAK
iShares U.S. Insurance ETF		1.11%9.50%28.25%11.28%11.33%26.84%-2.86%25.94%-11.48%14.18%

Correlation

The correlation between XLI and IAK is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.31

Correlation (3Y)
Calculated over the trailing 3-year period

0.45

Correlation (5Y)
Calculated over the trailing 5-year period

0.61

Correlation (10Y)
Calculated over the trailing 10-year period

0.67

Correlation (All Time)
Calculated using the full available price history since May 5, 2006

0.72

Over the past year, the correlation between XLI and IAK has dropped to 0.31 - well below their long-term average of 0.72, suggesting their price drivers have been diverging.

XLI vs. IAK - Sectors Allocation Comparison

Sectors
XLI
IAK

Industrials

90.9%

-

Utilities

4.8%

-

Technology

3.8%

-

Consumer Cyclical

0.5%

-

Basic Materials

-

-

Communication Services

-

-

Consumer Defensive

-

-

Energy

-

-

Financial Services

-

99.4%

Healthcare

-

0.6%

Real Estate

-

-

Industrials

XLI
90.9%
IAK

-

Utilities

XLI
4.8%
IAK

-

Technology

XLI
3.8%
IAK

-

Consumer Cyclical

XLI
0.5%
IAK

-

Basic Materials

XLI

-

IAK

-

Communication Services

XLI

-

IAK

-

Consumer Defensive

XLI

-

IAK

-

Energy

XLI

-

IAK

-

Financial Services

XLI

-

IAK
99.4%

Healthcare

XLI

-

IAK
0.6%

Real Estate

XLI

-

IAK

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Industrial Select Sector SPDR Fund

iShares U.S. Insurance ETF

Often compared with XLI:
XLI vs. VISXLI vs. PAVEXLI vs. XLKXLI vs. SPYXLI vs. FIDUXLI vs. ITAXLI vs. AIRR
Often compared with IAK:
IAK vs. KIEIAK vs. KBWPIAK vs. IHEIAK vs. DIVBIAK vs. INFLIAK vs. VYMIAK vs. VTI

Return for Risk

XLI vs. IAK — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XLI
XLI Risk / Return Rank: 4848
Overall Rank
XLI Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
XLI Sortino Ratio Rank: 5050
Sortino Ratio Rank
XLI Omega Ratio Rank: 4646
Omega Ratio Rank
XLI Calmar Ratio Rank: 4545
Calmar Ratio Rank
XLI Martin Ratio Rank: 5252
Martin Ratio Rank
IAK
IAK Risk / Return Rank: 1515
Overall Rank
IAK Sharpe Ratio Rank: 1414
Sharpe Ratio Rank
IAK Sortino Ratio Rank: 1313
Sortino Ratio Rank
IAK Omega Ratio Rank: 1313
Omega Ratio Rank
IAK Calmar Ratio Rank: 1717
Calmar Ratio Rank
IAK Martin Ratio Rank: 1616
Martin Ratio Rank
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.

XLI vs. IAK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Industrial Select Sector SPDR Fund (XLI) and iShares U.S. Insurance ETF (IAK). 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.

XLIIAKDifference
Sharpe ratioReturn per unit of total volatility
1.50
0.29

+1.21

Sortino ratioReturn per unit of downside risk
2.17
0.50

+1.67

Omega ratioGain probability vs. loss probability

1.26

1.06

+0.20

Calmar ratioReturn relative to maximum drawdown

1.98

0.57

+1.41

Martin ratioReturn relative to average drawdown

7.82

1.27

+6.54

XLI vs. IAK - Sharpe Ratio Comparison

The current XLI Sharpe Ratio is 1.50, which is higher than the IAK Sharpe Ratio of 0.29. The chart below compares the historical Sharpe Ratios of XLI and IAK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

XLI vs. IAK - Drawdown Comparison

The maximum XLI drawdown since its inception was -62.26%, smaller than the maximum IAK drawdown of -77.38%. Use the drawdown chart below to compare losses from any high point for XLI and IAK.

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Drawdown Indicators

XLIIAKDifference

Max Drawdown

Largest peak-to-trough decline

-62.26%

-77.38%

+15.12%

Max Drawdown (1Y)

Largest decline over 1 year

-12.21%

-7.62%

-4.59%

Max Drawdown (3Y)

Largest decline over 3 years

-18.49%

-11.58%

-6.91%

Max Drawdown (5Y)

Largest decline over 5 years

-21.64%

-14.76%

-6.88%

Max Drawdown (10Y)

Largest decline over 10 years

-42.33%

-44.95%

+2.62%

Current Drawdown

Current decline from peak

-1.24%

-0.23%

-1.01%

Average Drawdown

Average peak-to-trough decline

-9.20%

-16.11%

+6.91%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.09%

3.41%

-0.32%

Volatility

XLI vs. IAK - Volatility Comparison

Industrial Select Sector SPDR Fund (XLI) has a higher volatility of 6.22% compared to iShares U.S. Insurance ETF (IAK) at 5.49%. This indicates that XLI's price experiences larger fluctuations and is considered to be riskier than IAK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XLIIAKDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.22%

5.49%

+0.73%

Volatility (6M)

Calculated over the trailing 6-month period

13.59%

10.75%

+2.84%

Volatility (1Y)

Calculated over the trailing 1-year period

16.17%

15.10%

+1.07%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.55%

18.14%

-0.59%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.04%

20.92%

-0.88%

XLI vs. IAK - Expense Ratio Comparison

XLI has a 0.08% expense ratio, which is lower than IAK's 0.43% expense ratio.

Dividends

XLI vs. IAK - Dividend Comparison

XLI's dividend yield for the trailing twelve months is around 1.16%, less than IAK's 2.60% yield.

PositionTTM20252024202320222021202020192018201720162015
IAK
iShares U.S. Insurance ETF		2.60%1.69%1.49%1.44%1.69%2.26%2.07%1.84%2.33%1.62%1.68%1.62%
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 IAK have a correlation of 0.31, 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 IAK (5.49%). In terms of maximum drawdown, XLI dropped -62.26% vs IAK's -77.38%.

On 10-year performance, XLI leads with 14.15% vs 12.67% for IAK. On fees, XLI is cheaper at 0.08% per year. On volatility, IAK has been the lower-risk option at 5.49%. 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 12.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

XLI is cheaper with a 0.08% expense ratio, compared with 0.43% for IAK.

IAK has the higher dividend yield at 2.60%, compared with 1.16% for XLI.

XLI is categorized as Industrials Equities, while IAK is Financials Equities. XLI tracks Industrial Select Sector Index, while IAK tracks Dow Jones U.S. Select Insurance Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.08% for XLI and 0.43% for IAK.

XLI currently has the higher Sharpe Ratio (1.50 vs 0.29), 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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