XLSR vs. VFIAX

Last updated Jun 4, 2026

XLSR (SPDR SSGA US Sector Rotation ETF) and VFIAX (Vanguard 500 Index Fund Admiral Shares) are both funds - XLSR is a Large Cap Growth Equities fund actively managed by State Street, while VFIAX is a S&P 500 fund tracking the S&P 500 Index. XLSR is actively managed, while VFIAX is passively managed. Over the past 5 years, XLSR returned 10.06%/yr vs 14.24%/yr for VFIAX. With a 0.97 correlation, they move nearly in lockstep. XLSR charges 0.70%/yr vs 0.04%/yr for VFIAX.

Performance

XLSR vs. VFIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR SSGA US Sector Rotation ETF (XLSR) and Vanguard 500 Index Fund Admiral Shares (VFIAX). 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 VFIAX's 11.69% return.

XLSR

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

VFIAX

• 1D: 0.13%
• 1M: 5.80%
• YTD: 11.69%
• 6M: 11.73%
• 1Y: 28.95%
• 3Y*: 22.72%
• 5Y*: 14.24%
• 10Y*: 15.63%

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

XLSR vs. VFIAX - 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%
VFIAX Vanguard 500 Index Fund Admiral Shares	11.69%	17.83%	24.97%	26.24%	-18.16%	28.65%	18.32%	14.10%

Correlation

The correlation between XLSR and VFIAX is 0.96 - 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	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (All Time) Calculated using the full available price history since Apr 4, 2019	0.97

The correlation between XLSR and VFIAX has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.

XLSR vs. VFIAX - Sectors Allocation Comparison

Sectors	XLSR	VFIAX
Technology	33.5%	35.7%
Healthcare	21.9%	8.5%
Communication Services	16.4%	11.3%
Industrials	13.8%	8.3%
Energy	8.1%	3.5%
Consumer Defensive	5.1%	4.9%
Financial Services	0.7%	11.6%
Consumer Cyclical	0.4%	10.2%
Basic Materials	-	1.8%
Real Estate	-	1.9%
Utilities	-	2.4%

Return for Risk

XLSR vs. VFIAX — 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

VFIAX

VFIAX Risk / Return Rank: 73
VFIAX Sharpe Ratio Rank: 75
VFIAX Sortino Ratio Rank: 67
VFIAX Omega Ratio Rank: 67
VFIAX Calmar Ratio Rank: 74
VFIAX Martin Ratio Rank: 83

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. VFIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR SSGA US Sector Rotation ETF (XLSR) and Vanguard 500 Index Fund Admiral Shares (VFIAX). 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	VFIAX	Difference
Sharpe ratio: Return per unit of total volatility	2.12	2.52	-0.40
Sortino ratio: Return per unit of downside risk	2.98	3.42	-0.44
Omega ratio: Gain probability vs. loss probability	1.39	1.46	-0.07
Calmar ratio: Return relative to maximum drawdown	2.35	3.35	-1.01
Martin ratio: Return relative to average drawdown	10.44	15.66	-5.23
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. VFIAX - Sharpe Ratio Comparison

The current XLSR Sharpe Ratio is 2.12, which is comparable to the VFIAX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of XLSR and VFIAX, 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	VFIAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.12	2.52	-0.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	0.85	-0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	0.47	+0.19

Drawdowns

XLSR vs. VFIAX - Drawdown Comparison

The maximum XLSR drawdown since its inception was -32.94%, smaller than the maximum VFIAX drawdown of -55.20%. Use the drawdown chart below to compare losses from any high point for XLSR and VFIAX.

Drawdown Indicators

	XLSR	VFIAX	Difference
Max Drawdown Largest peak-to-trough decline	-32.94%	-55.20%	+22.26%
Max Drawdown (1Y) Largest decline over 1 year	-11.06%	-8.90%	-2.16%
Max Drawdown (3Y) Largest decline over 3 years	-20.57%	-18.75%	-1.82%
Max Drawdown (5Y) Largest decline over 5 years	-23.32%	-24.53%	+1.21%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.83%	—
Current Drawdown Current decline from peak	-0.45%	0.00%	-0.45%
Average Drawdown Average peak-to-trough decline	-5.33%	-9.40%	+4.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.48%	1.90%	+0.58%

Volatility

XLSR vs. VFIAX - Volatility Comparison

SPDR SSGA US Sector Rotation ETF (XLSR) has a higher volatility of 2.97% compared to Vanguard 500 Index Fund Admiral Shares (VFIAX) at 2.82%. This indicates that XLSR's price experiences larger fluctuations and is considered to be riskier than VFIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XLSR	VFIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.97%	2.82%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	9.23%	8.98%	+0.25%
Volatility (1Y) Calculated over the trailing 1-year period	12.26%	11.86%	+0.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.08%	16.90%	+0.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.04%	18.07%	+1.97%

XLSR vs. VFIAX - Expense Ratio Comparison

XLSR has a 0.70% expense ratio, which is higher than VFIAX's 0.04% expense ratio.

Dividends

XLSR vs. VFIAX - Dividend Comparison

XLSR's dividend yield for the trailing twelve months is around 0.52%, less than VFIAX's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VFIAX Vanguard 500 Index Fund Admiral Shares	1.01%	1.12%	1.24%	1.45%	1.68%	1.24%	1.53%	1.87%	2.05%	1.78%	2.02%	2.10%
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 VFIAX in my portfolio?

With a correlation of 0.96, XLSR and VFIAX 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 VFIAX?

XLSR has higher volatility (2.97%) compared to VFIAX (2.82%). In terms of maximum drawdown, XLSR dropped -32.94% vs VFIAX's -55.20%.

Which has better risk-adjusted returns?

VFIAX currently has the higher Sharpe Ratio (2.52 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.