XLSR vs. AESR

Last updated Jun 23, 2026

XLSR (SPDR SSGA US Sector Rotation ETF) and AESR (Anfield U.S. Equity Sector Rotation ETF) are both Large Cap Growth Equities funds. Both are actively managed. Over the past 5 years, XLSR returned 9.86%/yr vs 15.42%/yr for AESR. Their correlation of 0.93 suggests significant overlap in exposure. XLSR charges 0.70%/yr vs 1.46%/yr for AESR.

Performance

XLSR vs. AESR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR SSGA US Sector Rotation ETF (XLSR) and Anfield U.S. Equity Sector Rotation ETF (AESR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XLSR achieves a 4.36% return, which is significantly lower than AESR's 22.69% return.

XLSR

• 1D: -0.90%
• 1M: -0.69%
• YTD: 4.36%
• 6M: 4.27%
• 1Y: 23.28%
• 3Y*: 16.15%
• 5Y*: 9.86%
• 10Y*: —

AESR

• 1D: 0.14%
• 1M: 5.16%
• YTD: 22.69%
• 6M: 21.42%
• 1Y: 39.98%
• 3Y*: 26.72%
• 5Y*: 15.42%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

XLSR vs. AESR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
XLSR SPDR SSGA US Sector Rotation ETF	4.36%	17.34%	17.60%	18.95%	-15.70%	20.47%	20.23%	1.36%
AESR Anfield U.S. Equity Sector Rotation ETF	22.69%	20.34%	25.37%	21.03%	-17.52%	25.26%	19.58%	0.76%

Correlation

The correlation between XLSR and AESR is 0.88, 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	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Dec 17, 2019	0.93

The correlation between XLSR and AESR has been stable across timeframes, ranging from 0.88 to 0.93 - a consistent structural relationship.

XLSR vs. AESR - Sectors Allocation Comparison

Sectors	XLSR	AESR
Technology	39.6%	40.4%
Communication Services	19.5%	24.5%
Industrials	17.9%	8.4%
Consumer Defensive	9.6%	2.2%
Energy	6.0%	1.8%
Healthcare	3.8%	2.0%
Consumer Cyclical	3.6%	12.3%
Financial Services	0.7%	6.7%
Basic Materials	-	1.2%
Real Estate	-	0.3%
Utilities	-	0.3%

Return for Risk

XLSR vs. AESR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XLSR

XLSR Risk / Return Rank: 52
XLSR Sharpe Ratio Rank: 55
XLSR Sortino Ratio Rank: 53
XLSR Omega Ratio Rank: 55
XLSR Calmar Ratio Rank: 44
XLSR Martin Ratio Rank: 54

AESR

AESR Risk / Return Rank: 75
AESR Sharpe Ratio Rank: 73
AESR Sortino Ratio Rank: 67
AESR Omega Ratio Rank: 70
AESR Calmar Ratio Rank: 81
AESR Martin Ratio Rank: 84

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.

XLSR vs. AESR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR SSGA US Sector Rotation ETF (XLSR) and Anfield U.S. Equity Sector Rotation ETF (AESR). 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.

	XLSR	AESR	Difference
Sharpe ratio: Return per unit of total volatility	1.79	2.24	-0.45
Sortino ratio: Return per unit of downside risk	2.51	2.95	-0.44
Omega ratio: Gain probability vs. loss probability	1.33	1.40	-0.07
Calmar ratio: Return relative to maximum drawdown	2.11	4.09	-1.98
Martin ratio: Return relative to average drawdown	9.15	16.65	-7.50

XLSR vs. AESR - Sharpe Ratio Comparison

The current XLSR Sharpe Ratio is 1.79, which is comparable to the AESR Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of XLSR and AESR, 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

XLSR vs. AESR - Drawdown Comparison

The maximum XLSR drawdown since its inception was -32.94%, which is greater than AESR's maximum drawdown of -31.06%. Use the drawdown chart below to compare losses from any high point for XLSR and AESR.

Drawdown Indicators

	XLSR	AESR	Difference
Max Drawdown Largest peak-to-trough decline	-32.94%	-31.06%	-1.88%
Max Drawdown (1Y) Largest decline over 1 year	-11.06%	-9.82%	-1.24%
Max Drawdown (3Y) Largest decline over 3 years	-20.57%	-19.85%	-0.72%
Max Drawdown (5Y) Largest decline over 5 years	-23.32%	-25.04%	+1.72%
Current Drawdown Current decline from peak	-2.46%	-0.05%	-2.41%
Average Drawdown Average peak-to-trough decline	-5.31%	-5.98%	+0.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.55%	2.41%	+0.14%

Volatility

XLSR vs. AESR - Volatility Comparison

The current volatility for SPDR SSGA US Sector Rotation ETF (XLSR) is 5.13%, while Anfield U.S. Equity Sector Rotation ETF (AESR) has a volatility of 8.33%. This indicates that XLSR experiences smaller price fluctuations and is considered to be less risky than AESR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XLSR	AESR	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.13%	8.33%	-3.20%
Volatility (6M) Calculated over the trailing 6-month period	10.26%	14.70%	-4.44%
Volatility (1Y) Calculated over the trailing 1-year period	13.06%	17.94%	-4.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.19%	18.15%	-0.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.05%	20.59%	-0.54%

XLSR vs. AESR - Expense Ratio Comparison

XLSR has a 0.70% expense ratio, which is lower than AESR's 1.46% expense ratio.

Dividends

XLSR vs. AESR - Dividend Comparison

XLSR's dividend yield for the trailing twelve months is around 0.53%, less than AESR's 18.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
AESR Anfield U.S. Equity Sector Rotation ETF	18.76%	23.02%	0.17%	0.33%	0.73%	6.59%	1.06%	0.33%
XLSR SPDR SSGA US Sector Rotation ETF	0.53%	0.58%	0.66%	1.04%	1.80%	3.44%	1.25%	0.94%

Frequently Asked Questions

Can I hold both XLSR and AESR in my portfolio?

XLSR and AESR have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XLSR or AESR?

AESR has higher volatility (8.33%) compared to XLSR (5.13%). In terms of maximum drawdown, XLSR dropped -32.94% vs AESR's -31.06%.

Which ETF is better, XLSR or AESR?

On 5-year performance, AESR leads with 15.42% vs 9.86% for XLSR. On fees, XLSR is cheaper at 0.70% per year. On volatility, XLSR has been the lower-risk option at 5.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XLSR or AESR?

Over the 5-year period, AESR has performed better with a 15.42% return vs 9.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XLSR or AESR?

XLSR is cheaper with a 0.70% expense ratio, compared with 1.46% for AESR.

Which ETF pays a higher dividend yield, XLSR or AESR?

AESR has the higher dividend yield at 18.76%, compared with 0.53% for XLSR.

What is the main difference between XLSR and AESR?

They also come from different issuers: State Street and Regents Park Funds. Their fees differ too: 0.70% for XLSR and 1.46% for AESR.

Which has better risk-adjusted returns?

AESR currently has the higher Sharpe Ratio (2.24 vs 1.79), 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.