XLSR vs. GQGU

Last updated Jul 15, 2026

XLSR (SPDR SSGA US Sector Rotation ETF) and GQGU (GQG US Equity ETF) are both Large Cap Growth Equities funds. Both are actively managed. Over the past year, XLSR returned 17.86% vs 4.74% for GQGU. At a correlation of -0.20, they often move in opposite directions. XLSR charges 0.70%/yr vs 0.49%/yr for GQGU.

Performance

XLSR vs. GQGU - Performance Comparison

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

Returns By Period

In the year-to-date period, XLSR achieves a 4.40% return, which is significantly lower than GQGU's 5.95% return.

XLSR

• 1D: 0.45%
• 1M: 0.54%
• 6M: 3.71%
• YTD: 4.40%
• 1Y: 17.86%
• 3Y*: 14.83%
• 5Y*: 9.30%
• 10Y*: —

GQGU

• 1D: -0.15%
• 1M: -0.42%
• 6M: 6.34%
• YTD: 5.95%
• 1Y: 4.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XLSR vs. GQGU - Yearly Performance Comparison

	2026 (YTD)	2025
XLSR SPDR SSGA US Sector Rotation ETF	4.40%	13.15%
GQGU GQG US Equity ETF	5.95%	-1.12%

Correlation

The correlation between XLSR and GQGU is -0.20, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.20
Correlation (All Time) Calculated using the full available price history since Jul 14, 2025	-0.20

Return for Risk

XLSR vs. GQGU — Risk / Return Rank

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

XLSR

XLSR Risk / Return Rank: 46
XLSR Sharpe Ratio Rank: 48
XLSR Sortino Ratio Rank: 48
XLSR Omega Ratio Rank: 47
XLSR Calmar Ratio Rank: 39
XLSR Martin Ratio Rank: 50

GQGU

GQGU Risk / Return Rank: 17
GQGU Sharpe Ratio Rank: 17
GQGU Sortino Ratio Rank: 16
GQGU Omega Ratio Rank: 16
GQGU Calmar Ratio Rank: 17
GQGU Martin Ratio Rank: 17

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. GQGU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR SSGA US Sector Rotation ETF (XLSR) and GQG US Equity ETF (GQGU). 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	GQGU	Difference
Sharpe ratio: Return per unit of total volatility	1.35	0.44	+0.90
Sortino ratio: Return per unit of downside risk	1.93	0.71	+1.22
Omega ratio: Gain probability vs. loss probability	1.25	1.08	+0.16
Calmar ratio: Return relative to maximum drawdown	1.62	0.57	+1.06
Martin ratio: Return relative to average drawdown	6.69	1.38	+5.31

XLSR vs. GQGU - Sharpe Ratio Comparison

The current XLSR Sharpe Ratio is 1.35, which is higher than the GQGU Sharpe Ratio of 0.44. The chart below compares the historical Sharpe Ratios of XLSR and GQGU, 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. GQGU - Drawdown Comparison

The maximum XLSR drawdown since its inception was -32.94%, which is greater than GQGU's maximum drawdown of -8.41%. Use the drawdown chart below to compare losses from any high point for XLSR and GQGU.

Drawdown Indicators

	XLSR	GQGU	Difference
Max Drawdown Largest peak-to-trough decline	-32.94%	-8.41%	-24.53%
Max Drawdown (1Y) Largest decline over 1 year	-11.06%	-8.41%	-2.65%
Max Drawdown (3Y) Largest decline over 3 years	-20.57%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-23.32%	—	—
Current Drawdown Current decline from peak	-2.43%	-5.24%	+2.81%
Average Drawdown Average peak-to-trough decline	-5.29%	-2.89%	-2.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.68%	3.45%	-0.77%

Volatility

XLSR vs. GQGU - Volatility Comparison

SPDR SSGA US Sector Rotation ETF (XLSR) and GQG US Equity ETF (GQGU) have volatilities of 4.75% and 4.59%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XLSR	GQGU	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.75%	4.59%	+0.16%
Volatility (6M) Calculated over the trailing 6-month period	10.69%	8.53%	+2.16%
Volatility (1Y) Calculated over the trailing 1-year period	13.34%	10.72%	+2.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.23%	10.72%	+6.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.01%	10.72%	+9.29%

XLSR vs. GQGU - Expense Ratio Comparison

XLSR has a 0.70% expense ratio, which is higher than GQGU's 0.49% expense ratio.

Dividends

XLSR vs. GQGU - Dividend Comparison

XLSR's dividend yield for the trailing twelve months is around 0.46%, less than GQGU's 0.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
GQGU GQG US Equity ETF	0.96%	1.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XLSR SPDR SSGA US Sector Rotation ETF	0.46%	0.58%	0.66%	1.04%	1.80%	3.44%	1.25%	0.94%

Frequently Asked Questions

Can I hold both XLSR and GQGU in my portfolio?

XLSR and GQGU have a correlation of -0.20, 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 GQGU?

XLSR has higher volatility (4.75%) compared to GQGU (4.59%). In terms of maximum drawdown, XLSR dropped -32.94% vs GQGU's -8.41%.

Which ETF is better, XLSR or GQGU?

On 1-year performance, XLSR leads with 17.86% vs 4.74% for GQGU. On fees, GQGU is cheaper at 0.49% per year. On volatility, GQGU has been the lower-risk option at 4.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XLSR or GQGU?

Over the 1-year period, XLSR has performed better with a 17.86% return vs 4.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XLSR or GQGU?

GQGU is cheaper with a 0.49% expense ratio, compared with 0.70% for XLSR.

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

GQGU has the higher dividend yield at 0.96%, compared with 0.46% for XLSR.

What is the main difference between XLSR and GQGU?

They also come from different issuers: State Street and GQG Partners. Their fees differ too: 0.70% for XLSR and 0.49% for GQGU.

Which has better risk-adjusted returns?

XLSR currently has the higher Sharpe Ratio (1.35 vs 0.44), 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.