XLSR vs. ILCB

Last updated Jun 4, 2026

XLSR (SPDR SSGA US Sector Rotation ETF) and ILCB (iShares Morningstar U.S. Equity ETF) are both Large Cap Growth Equities funds. XLSR is actively managed, while ILCB is passively managed. Over the past 5 years, XLSR returned 10.06%/yr vs 13.45%/yr for ILCB. With a 0.96 correlation, they move nearly in lockstep. XLSR charges 0.70%/yr vs 0.03%/yr for ILCB.

Performance

XLSR vs. ILCB - Performance Comparison

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

Returns By Period

In the year-to-date period, XLSR achieves a 6.52% return, which is significantly lower than ILCB's 11.12% return.

XLSR

• 1D: -0.45%
• 1M: 5.12%
• YTD: 6.52%
• 6M: 6.27%
• 1Y: 25.83%
• 3Y*: 17.65%
• 5Y*: 10.06%
• 10Y*: —

ILCB

• 1D: -0.67%
• 1M: 5.29%
• YTD: 11.12%
• 6M: 11.10%
• 1Y: 28.03%
• 3Y*: 22.69%
• 5Y*: 13.45%
• 10Y*: 15.00%

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

XLSR vs. ILCB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
XLSR SPDR SSGA US Sector Rotation ETF	6.52%	17.34%	17.60%	18.95%	-15.70%	20.47%	20.23%	14.13%
ILCB iShares Morningstar U.S. Equity ETF	11.12%	17.70%	24.96%	26.91%	-19.48%	24.07%	19.40%	16.39%

Correlation

The correlation between XLSR and ILCB is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since Apr 4, 2019	0.96

The correlation between XLSR and ILCB has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.

XLSR vs. ILCB - Sectors Allocation Comparison

Sectors	XLSR	ILCB
Technology	33.5%	35.5%
Healthcare	21.9%	8.6%
Communication Services	16.4%	11.4%
Industrials	13.8%	8.6%
Energy	8.1%	3.5%
Consumer Defensive	5.1%	4.8%
Financial Services	0.7%	11.7%
Consumer Cyclical	0.4%	10.1%
Basic Materials	-	1.8%
Real Estate	-	1.8%
Utilities	-	2.3%

Return for Risk

XLSR vs. ILCB — Risk / Return Rank

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

XLSR

XLSR Risk / Return Rank: 59
XLSR Sharpe Ratio Rank: 63
XLSR Sortino Ratio Rank: 63
XLSR Omega Ratio Rank: 63
XLSR Calmar Ratio Rank: 47
XLSR Martin Ratio Rank: 59

ILCB

ILCB Risk / Return Rank: 69
ILCB Sharpe Ratio Rank: 70
ILCB Sortino Ratio Rank: 69
ILCB Omega Ratio Rank: 70
ILCB Calmar Ratio Rank: 62
ILCB Martin Ratio Rank: 75

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. ILCB - Risk-Adjusted Trends Comparison

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

	XLSR	ILCB	Difference
Sharpe ratio: Return per unit of total volatility	2.12	2.35	-0.23
Sortino ratio: Return per unit of downside risk	2.98	3.20	-0.22
Omega ratio: Gain probability vs. loss probability	1.39	1.42	-0.04
Calmar ratio: Return relative to maximum drawdown	2.35	3.10	-0.75
Martin ratio: Return relative to average drawdown	10.44	14.24	-3.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XLSR vs. ILCB - Sharpe Ratio Comparison

The current XLSR Sharpe Ratio is 2.12, which is comparable to the ILCB Sharpe Ratio of 2.35. The chart below compares the historical Sharpe Ratios of XLSR and ILCB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	XLSR	ILCB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.12	2.35	-0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	0.79	-0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.83	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	0.64	+0.03

Drawdowns

XLSR vs. ILCB - Drawdown Comparison

The maximum XLSR drawdown since its inception was -32.94%, smaller than the maximum ILCB drawdown of -51.53%. Use the drawdown chart below to compare losses from any high point for XLSR and ILCB.

Drawdown Indicators

	XLSR	ILCB	Difference
Max Drawdown Largest peak-to-trough decline	-32.94%	-51.53%	+18.59%
Max Drawdown (1Y) Largest decline over 1 year	-11.06%	-9.09%	-1.97%
Max Drawdown (3Y) Largest decline over 3 years	-20.57%	-19.05%	-1.52%
Max Drawdown (5Y) Largest decline over 5 years	-23.32%	-25.47%	+2.15%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.30%	—
Current Drawdown Current decline from peak	-0.45%	-0.67%	+0.22%
Average Drawdown Average peak-to-trough decline	-5.33%	-6.24%	+0.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.48%	1.97%	+0.51%

Volatility

XLSR vs. ILCB - Volatility Comparison

SPDR SSGA US Sector Rotation ETF (XLSR) and iShares Morningstar U.S. Equity ETF (ILCB) have volatilities of 2.97% and 2.88%, 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	ILCB	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.97%	2.88%	+0.09%
Volatility (6M) Calculated over the trailing 6-month period	9.23%	9.10%	+0.13%
Volatility (1Y) Calculated over the trailing 1-year period	12.26%	12.02%	+0.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.08%	17.13%	-0.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.04%	18.16%	+1.88%

XLSR vs. ILCB - Expense Ratio Comparison

XLSR has a 0.70% expense ratio, which is higher than ILCB's 0.03% expense ratio.

Dividends

XLSR vs. ILCB - Dividend Comparison

XLSR's dividend yield for the trailing twelve months is around 0.52%, less than ILCB's 0.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ILCB iShares Morningstar U.S. Equity ETF	0.97%	1.11%	1.19%	1.43%	1.65%	1.16%	1.26%	2.25%	2.17%	1.81%	1.97%	2.44%
XLSR SPDR SSGA US Sector Rotation ETF	0.52%	0.58%	0.66%	1.04%	1.80%	3.44%	1.25%	0.94%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XLSR and ILCB in my portfolio?

With a correlation of 0.95, XLSR and ILCB move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, XLSR or ILCB?

XLSR has higher volatility (2.97%) compared to ILCB (2.88%). In terms of maximum drawdown, XLSR dropped -32.94% vs ILCB's -51.53%.

Which ETF is better, XLSR or ILCB?

On 5-year performance, ILCB leads with 13.45% vs 10.06% for XLSR. On fees, ILCB is cheaper at 0.03% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XLSR or ILCB?

Over the 5-year period, ILCB has performed better with a 13.45% return vs 10.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XLSR or ILCB?

ILCB is cheaper with a 0.03% expense ratio, compared with 0.70% for XLSR.

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

ILCB has the higher dividend yield at 0.97%, compared with 0.52% for XLSR.

What is the main difference between XLSR and ILCB?

They also come from different issuers: State Street and iShares. Their fees differ too: 0.70% for XLSR and 0.03% for ILCB.

Which has better risk-adjusted returns?

ILCB currently has the higher Sharpe Ratio (2.35 vs 2.12), 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.