XLRE vs. INDS
XLRE (Real Estate Select Sector SPDR Fund) and INDS (Pacer Benchmark Industrial Real Estate SCTR ETF) are both REIT funds - XLRE tracks the Real Estate Select Sector Index while INDS tracks the Benchmark Industrial Real Estate SCTR Index. Both are passively managed. Over the past 5 years, XLRE returned 3.53%/yr vs 1.28%/yr for INDS. Their correlation of 0.86 suggests significant overlap in exposure. XLRE charges 0.13%/yr vs 0.60%/yr for INDS.
Performance
XLRE vs. INDS - Performance Comparison
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Returns By Period
In the year-to-date period, XLRE achieves a 12.35% return, which is significantly higher than INDS's 9.73% return.
XLRE
- 1D
- 1.41%
- 1M
- 1.06%
- YTD
- 12.35%
- 6M
- 12.83%
- 1Y
- 9.79%
- 3Y*
- 11.31%
- 5Y*
- 3.53%
- 10Y*
- 6.92%
INDS
- 1D
- 0.44%
- 1M
- 0.37%
- YTD
- 9.73%
- 6M
- 10.02%
- 1Y
- 11.96%
- 3Y*
- 5.60%
- 5Y*
- 1.28%
- 10Y*
- —
XLRE vs. INDS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
XLRE Real Estate Select Sector SPDR Fund | 12.35% | 2.63% | 5.09% | 12.36% | -26.25% | 46.10% | -2.18% | 28.68% | 2.09% |
INDS Pacer Benchmark Industrial Real Estate SCTR ETF | 9.73% | 7.78% | -12.69% | 17.72% | -32.68% | 54.61% | 12.62% | 42.25% | -1.14% |
Correlation
The correlation between XLRE and INDS is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since May 15, 2018 | 0.86 |
The correlation between XLRE and INDS has been stable across timeframes, ranging from 0.81 to 0.88 - a consistent structural relationship.
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Return for Risk
XLRE vs. INDS — Risk / Return Rank
XLRE
INDS
XLRE vs. INDS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Real Estate Select Sector SPDR Fund (XLRE) and Pacer Benchmark Industrial Real Estate SCTR ETF (INDS). 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.
| XLRE | INDS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.13 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.18 | 0.98 | +0.20 |
| Martin ratioReturn relative to average drawdown | 3.23 | 2.95 | +0.28 |
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Drawdowns
XLRE vs. INDS - Drawdown Comparison
The maximum XLRE drawdown since its inception was -38.83%, roughly equal to the maximum INDS drawdown of -40.17%. Use the drawdown chart below to compare losses from any high point for XLRE and INDS.
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Drawdown Indicators
| XLRE | INDS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.83% | -40.17% | +1.34% |
Max Drawdown (1Y)Largest decline over 1 year | -8.33% | -12.23% | +3.90% |
Max Drawdown (3Y)Largest decline over 3 years | -16.74% | -26.96% | +10.22% |
Max Drawdown (5Y)Largest decline over 5 years | -34.12% | -40.17% | +6.05% |
Max Drawdown (10Y)Largest decline over 10 years | -38.83% | — | — |
Current DrawdownCurrent decline from peak | -0.72% | -18.17% | +17.45% |
Average DrawdownAverage peak-to-trough decline | -9.56% | -15.58% | +6.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.04% | 4.06% | -1.02% |
Volatility
XLRE vs. INDS - Volatility Comparison
Real Estate Select Sector SPDR Fund (XLRE) has a higher volatility of 5.35% compared to Pacer Benchmark Industrial Real Estate SCTR ETF (INDS) at 4.91%. This indicates that XLRE's price experiences larger fluctuations and is considered to be riskier than INDS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XLRE | INDS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.35% | 4.91% | +0.44% |
Volatility (6M)Calculated over the trailing 6-month period | 10.63% | 12.50% | -1.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.17% | 16.56% | -2.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.13% | 20.17% | -1.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.45% | 23.07% | -2.62% |
XLRE vs. INDS - Expense Ratio Comparison
XLRE has a 0.13% expense ratio, which is lower than INDS's 0.60% expense ratio.
Dividends
XLRE vs. INDS - Dividend Comparison
XLRE's dividend yield for the trailing twelve months is around 3.15%, less than INDS's 3.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
INDS Pacer Benchmark Industrial Real Estate SCTR ETF | 3.37% | 3.70% | 3.75% | 3.11% | 2.63% | 1.24% | 1.68% | 2.26% | 1.81% | 0.00% | 0.00% | 0.00% |
XLRE Real Estate Select Sector SPDR Fund | 3.15% | 3.45% | 3.43% | 3.31% | 3.70% | 2.61% | 3.15% | 3.06% | 3.78% | 3.25% | 4.22% | 1.09% |
Frequently Asked Questions
XLRE and INDS have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XLRE has higher volatility (5.35%) compared to INDS (4.91%). In terms of maximum drawdown, XLRE dropped -38.83% vs INDS's -40.17%.
On 5-year performance, XLRE leads with 3.53% vs 1.28% for INDS. On fees, XLRE is cheaper at 0.13% per year. On volatility, INDS has been the lower-risk option at 4.91%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, XLRE has performed better with a 3.53% return vs 1.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XLRE is cheaper with a 0.13% expense ratio, compared with 0.60% for INDS.
INDS has the higher dividend yield at 3.37%, compared with 3.15% for XLRE.
XLRE tracks Real Estate Select Sector Index, while INDS tracks Benchmark Industrial Real Estate SCTR Index. They also come from different issuers: State Street and Pacer. Their fees differ too: 0.13% for XLRE and 0.60% for INDS.
INDS currently has the higher Sharpe Ratio (0.73 vs 0.70), 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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