XLSR vs. HYSA

Last updated Jun 24, 2026

XLSR (SPDR SSGA US Sector Rotation ETF) and HYSA (Bondbloxx USD High Yield Bond Sector Rotation ETF) are both exchange-traded funds - XLSR is a Large Cap Growth Equities fund actively managed by State Street, while HYSA is a High Yield Bonds fund actively managed by BondBloxx. Both are actively managed. Over the past year, XLSR returned 20.16% vs 6.04% for HYSA. At a 0.48 correlation, their price movements are largely independent. XLSR charges 0.70%/yr vs 0.55%/yr for HYSA.

Performance

XLSR vs. HYSA - Performance Comparison

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

Returns By Period

In the year-to-date period, XLSR achieves a 2.67% return, which is significantly higher than HYSA's 1.67% return.

XLSR

• 1D: -1.63%
• 1M: -2.30%
• YTD: 2.67%
• 6M: 1.98%
• 1Y: 20.16%
• 3Y*: 15.52%
• 5Y*: 9.34%
• 10Y*: —

HYSA

• 1D: 0.27%
• 1M: 0.87%
• YTD: 1.67%
• 6M: 1.67%
• 1Y: 6.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XLSR vs. HYSA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
XLSR SPDR SSGA US Sector Rotation ETF	2.67%	17.34%	17.60%	6.87%
HYSA Bondbloxx USD High Yield Bond Sector Rotation ETF	1.67%	8.37%	6.71%	5.95%

Correlation

The correlation between XLSR and HYSA is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.52
Correlation (All Time) Calculated using the full available price history since Sep 18, 2023	0.48

The correlation between XLSR and HYSA has been stable across timeframes, ranging from 0.48 to 0.52 - a consistent structural relationship.

Return for Risk

XLSR vs. HYSA — Risk / Return Rank

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

XLSR

XLSR Risk / Return Rank: 45
XLSR Sharpe Ratio Rank: 47
XLSR Sortino Ratio Rank: 46
XLSR Omega Ratio Rank: 47
XLSR Calmar Ratio Rank: 39
XLSR Martin Ratio Rank: 49

HYSA

HYSA Risk / Return Rank: 40
HYSA Sharpe Ratio Rank: 37
HYSA Sortino Ratio Rank: 38
HYSA Omega Ratio Rank: 36
HYSA Calmar Ratio Rank: 40
HYSA Martin Ratio Rank: 48

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. HYSA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR SSGA US Sector Rotation ETF (XLSR) and Bondbloxx USD High Yield Bond Sector Rotation ETF (HYSA). 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	HYSA	Difference
Sharpe ratio: Return per unit of total volatility	1.54	1.29	+0.25
Sortino ratio: Return per unit of downside risk	2.18	1.91	+0.27
Omega ratio: Gain probability vs. loss probability	1.28	1.23	+0.05
Calmar ratio: Return relative to maximum drawdown	1.83	1.93	-0.10
Martin ratio: Return relative to average drawdown	7.89	7.73	+0.16

XLSR vs. HYSA - Sharpe Ratio Comparison

The current XLSR Sharpe Ratio is 1.54, which is comparable to the HYSA Sharpe Ratio of 1.29. The chart below compares the historical Sharpe Ratios of XLSR and HYSA, 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. HYSA - Drawdown Comparison

The maximum XLSR drawdown since its inception was -32.94%, which is greater than HYSA's maximum drawdown of -4.90%. Use the drawdown chart below to compare losses from any high point for XLSR and HYSA.

Drawdown Indicators

	XLSR	HYSA	Difference
Max Drawdown Largest peak-to-trough decline	-32.94%	-4.90%	-28.04%
Max Drawdown (1Y) Largest decline over 1 year	-11.06%	-3.15%	-7.91%
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	-4.05%	-0.20%	-3.85%
Average Drawdown Average peak-to-trough decline	-5.31%	-0.68%	-4.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.56%	0.78%	+1.78%

Volatility

XLSR vs. HYSA - Volatility Comparison

SPDR SSGA US Sector Rotation ETF (XLSR) has a higher volatility of 5.38% compared to Bondbloxx USD High Yield Bond Sector Rotation ETF (HYSA) at 1.11%. This indicates that XLSR's price experiences larger fluctuations and is considered to be riskier than HYSA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XLSR	HYSA	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.38%	1.11%	+4.27%
Volatility (6M) Calculated over the trailing 6-month period	10.37%	3.56%	+6.81%
Volatility (1Y) Calculated over the trailing 1-year period	13.14%	4.71%	+8.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.21%	6.04%	+11.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.06%	6.04%	+14.02%

XLSR vs. HYSA - Expense Ratio Comparison

XLSR has a 0.70% expense ratio, which is higher than HYSA's 0.55% expense ratio.

Dividends

XLSR vs. HYSA - Dividend Comparison

XLSR's dividend yield for the trailing twelve months is around 0.54%, less than HYSA's 6.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
HYSA Bondbloxx USD High Yield Bond Sector Rotation ETF	6.73%	6.70%	6.99%	2.65%	0.00%	0.00%	0.00%	0.00%
XLSR SPDR SSGA US Sector Rotation ETF	0.54%	0.58%	0.66%	1.04%	1.80%	3.44%	1.25%	0.94%

Frequently Asked Questions

Can I hold both XLSR and HYSA in my portfolio?

XLSR and HYSA have a correlation of 0.52, 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 HYSA?

XLSR has higher volatility (5.38%) compared to HYSA (1.11%). In terms of maximum drawdown, XLSR dropped -32.94% vs HYSA's -4.90%.

Which ETF is better, XLSR or HYSA?

On 1-year performance, XLSR leads with 20.16% vs 6.04% for HYSA. On fees, HYSA is cheaper at 0.55% per year. On volatility, HYSA has been the lower-risk option at 1.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XLSR or HYSA?

Over the 1-year period, XLSR has performed better with a 20.16% return vs 6.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XLSR or HYSA?

HYSA is cheaper with a 0.55% expense ratio, compared with 0.70% for XLSR.

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

HYSA has the higher dividend yield at 6.73%, compared with 0.54% for XLSR.

What is the main difference between XLSR and HYSA?

XLSR is categorized as Large Cap Growth Equities, while HYSA is High Yield Bonds. They also come from different issuers: State Street and BondBloxx. Their fees differ too: 0.70% for XLSR and 0.55% for HYSA.

Which has better risk-adjusted returns?

XLSR currently has the higher Sharpe Ratio (1.54 vs 1.29), 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.