XLSR vs. XLU

Last updated Jun 4, 2026

XLSR (SPDR SSGA US Sector Rotation ETF) and XLU (State Street Utilities Select Sector SPDR ETF) are both exchange-traded funds - XLSR is a Large Cap Growth Equities fund actively managed by State Street, while XLU is a Utilities Equities fund tracking the Utilities Select Sector Index. XLSR is actively managed, while XLU is passively managed. Over the past 5 years, XLSR returned 10.06%/yr vs 9.25%/yr for XLU. At a 0.39 correlation, their price movements are largely independent. XLSR charges 0.70%/yr vs 0.08%/yr for XLU.

Performance

XLSR vs. XLU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR SSGA US Sector Rotation ETF (XLSR) and State Street Utilities Select Sector SPDR ETF (XLU). 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 higher than XLU's 3.11% return.

XLSR

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

XLU

• 1D: -0.43%
• 1M: -5.74%
• YTD: 3.11%
• 6M: 1.25%
• 1Y: 9.11%
• 3Y*: 13.74%
• 5Y*: 9.25%
• 10Y*: 9.15%

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

XLSR vs. XLU - 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%
XLU State Street Utilities Select Sector SPDR ETF	3.11%	16.03%	23.31%	-7.18%	1.44%	17.70%	0.51%	14.53%

Correlation

The correlation between XLSR and XLU is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (All Time) Calculated using the full available price history since Apr 4, 2019	0.39

Over the past year, the correlation between XLSR and XLU has dropped to 0.17 - well below their long-term average of 0.39, suggesting their price drivers have been diverging.

XLSR vs. XLU - Sectors Allocation Comparison

Sectors	XLSR	XLU
Technology	33.5%	-
Healthcare	21.9%	-
Communication Services	16.4%	-
Industrials	13.8%	-
Energy	8.1%	-
Consumer Defensive	5.1%	-
Financial Services	0.7%	-
Consumer Cyclical	0.4%	-
Basic Materials	-	-
Real Estate	-	-
Utilities	-	100.0%

Return for Risk

XLSR vs. XLU — 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

XLU

XLU Risk / Return Rank: 19
XLU Sharpe Ratio Rank: 19
XLU Sortino Ratio Rank: 18
XLU Omega Ratio Rank: 18
XLU Calmar Ratio Rank: 22
XLU Martin Ratio Rank: 19

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. XLU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR SSGA US Sector Rotation ETF (XLSR) and State Street Utilities Select Sector SPDR ETF (XLU). 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	XLU	Difference
Sharpe ratio: Return per unit of total volatility	2.12	0.63	+1.49
Sortino ratio: Return per unit of downside risk	2.98	0.94	+2.04
Omega ratio: Gain probability vs. loss probability	1.39	1.12	+0.27
Calmar ratio: Return relative to maximum drawdown	2.35	1.00	+1.35
Martin ratio: Return relative to average drawdown	10.44	2.24	+8.20
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. XLU - Sharpe Ratio Comparison

The current XLSR Sharpe Ratio is 2.12, which is higher than the XLU Sharpe Ratio of 0.63. The chart below compares the historical Sharpe Ratios of XLSR and XLU, 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	XLU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.12	0.63	+1.49
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	0.54	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.48	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	0.40	+0.26

Drawdowns

XLSR vs. XLU - Drawdown Comparison

The maximum XLSR drawdown since its inception was -32.94%, smaller than the maximum XLU drawdown of -51.98%. Use the drawdown chart below to compare losses from any high point for XLSR and XLU.

Drawdown Indicators

	XLSR	XLU	Difference
Max Drawdown Largest peak-to-trough decline	-32.94%	-51.98%	+19.04%
Max Drawdown (1Y) Largest decline over 1 year	-11.06%	-9.18%	-1.88%
Max Drawdown (3Y) Largest decline over 3 years	-20.57%	-17.26%	-3.31%
Max Drawdown (5Y) Largest decline over 5 years	-23.32%	-25.26%	+1.94%
Max Drawdown (10Y) Largest decline over 10 years	—	-36.07%	—
Current Drawdown Current decline from peak	-0.45%	-7.78%	+7.33%
Average Drawdown Average peak-to-trough decline	-5.33%	-10.22%	+4.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.48%	4.09%	-1.61%

Volatility

XLSR vs. XLU - Volatility Comparison

The current volatility for SPDR SSGA US Sector Rotation ETF (XLSR) is 2.97%, while State Street Utilities Select Sector SPDR ETF (XLU) has a volatility of 5.41%. This indicates that XLSR experiences smaller price fluctuations and is considered to be less risky than XLU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XLSR	XLU	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.97%	5.41%	-2.44%
Volatility (6M) Calculated over the trailing 6-month period	9.23%	11.53%	-2.30%
Volatility (1Y) Calculated over the trailing 1-year period	12.26%	14.57%	-2.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.08%	17.32%	-0.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.04%	19.26%	+0.78%

XLSR vs. XLU - Expense Ratio Comparison

XLSR has a 0.70% expense ratio, which is higher than XLU's 0.08% expense ratio.

Dividends

XLSR vs. XLU - Dividend Comparison

XLSR's dividend yield for the trailing twelve months is around 0.52%, less than XLU's 2.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
XLU State Street Utilities Select Sector SPDR ETF	2.72%	2.71%	2.96%	3.39%	2.92%	2.79%	3.14%	2.95%	3.33%	3.33%	3.41%	3.67%

Frequently Asked Questions

Can I hold both XLSR and XLU in my portfolio?

XLSR and XLU have a correlation of 0.17, 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 XLU?

XLU has higher volatility (5.41%) compared to XLSR (2.97%). In terms of maximum drawdown, XLSR dropped -32.94% vs XLU's -51.98%.

Which ETF is better, XLSR or XLU?

On 5-year performance, XLSR leads with 10.06% vs 9.25% for XLU. On fees, XLU is cheaper at 0.08% per year. On volatility, XLSR has been the lower-risk option at 2.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XLSR or XLU?

Over the 5-year period, XLSR has performed better with a 10.06% return vs 9.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XLSR or XLU?

XLU is cheaper with a 0.08% expense ratio, compared with 0.70% for XLSR.

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

XLU has the higher dividend yield at 2.72%, compared with 0.52% for XLSR.

What is the main difference between XLSR and XLU?

XLSR is categorized as Large Cap Growth Equities, while XLU is Utilities Equities. Their fees differ too: 0.70% for XLSR and 0.08% for XLU.

Which has better risk-adjusted returns?

XLSR currently has the higher Sharpe Ratio (2.12 vs 0.63), 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.