XLP vs. SHV
XLP (State Street Consumer Staples Select Sector SPDR ETF) and SHV (iShares 0-1 Year Treasury Bond ETF) are both exchange-traded funds - XLP is a Consumer Staples Equities fund tracking the Consumer Staples Select Sector Index, while SHV is a Government Bonds fund tracking the ICE Short US Treasury Securities Index. Both are passively managed. Over the past 10 years, XLP returned 7.21%/yr vs 2.23%/yr for SHV. At a correlation of -0.02, they often move in opposite directions. XLP charges 0.08%/yr vs 0.15%/yr for SHV.
Performance
XLP vs. SHV - Performance Comparison
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Returns By Period
In the year-to-date period, XLP achieves a 7.54% return, which is significantly higher than SHV's 1.47% return. Over the past 10 years, XLP has outperformed SHV with an annualized return of 7.21%, while SHV has yielded a comparatively lower 2.23% annualized return.
XLP
- 1D
- -0.44%
- 1M
- -1.32%
- YTD
- 7.54%
- 6M
- 8.22%
- 1Y
- 4.50%
- 3Y*
- 7.23%
- 5Y*
- 6.10%
- 10Y*
- 7.21%
SHV
- 1D
- 0.01%
- 1M
- 0.26%
- YTD
- 1.47%
- 6M
- 1.74%
- 1Y
- 3.90%
- 3Y*
- 4.63%
- 5Y*
- 3.33%
- 10Y*
- 2.23%
XLP vs. SHV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XLP State Street Consumer Staples Select Sector SPDR ETF | 7.54% | 1.52% | 12.20% | -0.82% | -0.81% | 17.20% | 10.11% | 27.43% | -8.07% | 12.98% |
SHV iShares 0-1 Year Treasury Bond ETF | 1.47% | 4.21% | 5.12% | 5.04% | 0.94% | -0.10% | 0.81% | 2.36% | 1.72% | 0.67% |
Correlation
The correlation between XLP and SHV is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2007 | -0.02 |
The correlation between XLP and SHV shifts across timeframes, from -0.02 (all time) to 0.23 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
XLP vs. SHV — Risk / Return Rank
XLP
SHV
XLP vs. SHV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street Consumer Staples Select Sector SPDR ETF (XLP) and iShares 0-1 Year Treasury Bond ETF (SHV). 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.
| XLP | SHV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -19.14 | ||
| Sortino ratioReturn per unit of downside risk | -148.95 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 53.77 | -52.70 |
| Calmar ratioReturn relative to maximum drawdown | 0.47 | 431.38 | -430.92 |
| Martin ratioReturn relative to average drawdown | 0.91 | 2,419.80 | -2,418.89 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XLP | SHV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.36 | 19.49 | -19.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.46 | 11.62 | -11.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.49 | 8.09 | -7.60 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 4.50 | -4.07 |
Drawdowns
XLP vs. SHV - Drawdown Comparison
The maximum XLP drawdown since its inception was -35.90%, which is greater than SHV's maximum drawdown of -0.45%. Use the drawdown chart below to compare losses from any high point for XLP and SHV.
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Drawdown Indicators
| XLP | SHV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.90% | -0.45% | -35.45% |
Max Drawdown (1Y)Largest decline over 1 year | -9.69% | -0.01% | -9.68% |
Max Drawdown (3Y)Largest decline over 3 years | -12.39% | -0.03% | -12.36% |
Max Drawdown (5Y)Largest decline over 5 years | -16.30% | -0.39% | -15.91% |
Max Drawdown (10Y)Largest decline over 10 years | -24.51% | -0.45% | -24.06% |
Current DrawdownCurrent decline from peak | -7.19% | 0.00% | -7.19% |
Average DrawdownAverage peak-to-trough decline | -7.06% | -0.03% | -7.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.97% | 0.00% | +4.97% |
Volatility
XLP vs. SHV - Volatility Comparison
State Street Consumer Staples Select Sector SPDR ETF (XLP) has a higher volatility of 4.30% compared to iShares 0-1 Year Treasury Bond ETF (SHV) at 0.05%. This indicates that XLP's price experiences larger fluctuations and is considered to be riskier than SHV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XLP | SHV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.30% | 0.05% | +4.25% |
Volatility (6M)Calculated over the trailing 6-month period | 9.97% | 0.12% | +9.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.75% | 0.20% | +12.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.31% | 0.29% | +13.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.74% | 0.28% | +14.46% |
XLP vs. SHV - Expense Ratio Comparison
XLP has a 0.08% expense ratio, which is lower than SHV's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
XLP vs. SHV - Dividend Comparison
XLP's dividend yield for the trailing twelve months is around 2.62%, less than SHV's 3.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHV iShares 0-1 Year Treasury Bond ETF | 3.83% | 4.09% | 5.02% | 4.73% | 1.39% | 0.00% | 0.74% | 2.19% | 1.66% | 0.72% | 0.34% | 0.03% |
XLP State Street Consumer Staples Select Sector SPDR ETF | 2.62% | 2.75% | 2.77% | 2.63% | 2.47% | 2.28% | 2.50% | 2.57% | 3.04% | 2.62% | 2.53% | 2.52% |
Frequently Asked Questions
XLP and SHV have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XLP has higher volatility (4.30%) compared to SHV (0.05%). In terms of maximum drawdown, XLP dropped -35.90% vs SHV's -0.45%.
On 10-year performance, XLP leads with 7.21% vs 2.23% for SHV. On fees, XLP is cheaper at 0.08% per year. On volatility, SHV has been the lower-risk option at 0.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, XLP has performed better with a 7.21% return vs 2.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XLP is cheaper with a 0.08% expense ratio, compared with 0.15% for SHV.
SHV has the higher dividend yield at 3.83%, compared with 2.62% for XLP.
XLP is categorized as Consumer Staples Equities, while SHV is Government Bonds. XLP tracks Consumer Staples Select Sector Index, while SHV tracks ICE Short US Treasury Securities Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.08% for XLP and 0.15% for SHV.
SHV currently has the higher Sharpe Ratio (19.49 vs 0.36), 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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