XLU vs. SPYV

Last updated Jun 9, 2026

XLU (State Street Utilities Select Sector SPDR ETF) and SPYV (SPDR Portfolio S&P 500 Value ETF) are both exchange-traded funds - XLU is a Utilities Equities fund tracking the Utilities Select Sector Index, while SPYV is a S&P 500 fund tracking the S&P 500 Value Index. Both are passively managed. Over the past 10 years, XLU returned 8.99%/yr vs 11.83%/yr for SPYV. A 0.51 correlation means they provide meaningful diversification when combined. XLU charges 0.08%/yr vs 0.04%/yr for SPYV.

Performance

XLU vs. SPYV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Utilities Select Sector SPDR ETF (XLU) and SPDR Portfolio S&P 500 Value ETF (SPYV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XLU achieves a 2.66% return, which is significantly lower than SPYV's 6.98% return. Over the past 10 years, XLU has underperformed SPYV with an annualized return of 8.99%, while SPYV has yielded a comparatively higher 11.83% annualized return.

XLU

• 1D: -1.87%
• 1M: -2.68%
• YTD: 2.66%
• 6M: 3.35%
• 1Y: 10.26%
• 3Y*: 12.85%
• 5Y*: 9.10%
• 10Y*: 8.99%

SPYV

• 1D: -0.23%
• 1M: 0.75%
• YTD: 6.98%
• 6M: 7.88%
• 1Y: 20.07%
• 3Y*: 15.23%
• 5Y*: 10.75%
• 10Y*: 11.83%

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

XLU vs. SPYV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XLU State Street Utilities Select Sector SPDR ETF	2.66%	16.03%	23.31%	-7.18%	1.44%	17.70%	0.51%	25.93%	3.94%	12.05%
SPYV SPDR Portfolio S&P 500 Value ETF	6.98%	13.18%	12.24%	22.20%	-5.28%	24.91%	1.38%	31.70%	-9.01%	15.40%

Correlation

The correlation between XLU and SPYV is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (5Y) Calculated over the trailing 5-year period	0.52
Correlation (10Y) Calculated over the trailing 10-year period	0.43
Correlation (All Time) Calculated using the full available price history since Oct 3, 2000	0.51

The correlation between XLU and SPYV shifts across timeframes, from 0.36 (1 year) to 0.52 (5 years), reflecting how their relationship changes across market environments.

XLU vs. SPYV - Sectors Allocation Comparison

Sectors	XLU	SPYV
Utilities	100.0%	4.3%
Basic Materials	-	3.4%
Communication Services	-	3.2%
Consumer Cyclical	-	11.2%
Consumer Defensive	-	9.1%
Energy	-	7.1%
Financial Services	-	14.5%
Healthcare	-	11.6%
Industrials	-	10.8%
Real Estate	-	3.3%
Technology	-	21.5%

Return for Risk

XLU vs. SPYV — Risk / Return Rank

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

XLU

XLU Risk / Return Rank: 22
XLU Sharpe Ratio Rank: 22
XLU Sortino Ratio Rank: 21
XLU Omega Ratio Rank: 21
XLU Calmar Ratio Rank: 26
XLU Martin Ratio Rank: 21

SPYV

SPYV Risk / Return Rank: 70
SPYV Sharpe Ratio Rank: 69
SPYV Sortino Ratio Rank: 70
SPYV Omega Ratio Rank: 68
SPYV Calmar Ratio Rank: 71
SPYV Martin Ratio Rank: 73

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.

XLU vs. SPYV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Utilities Select Sector SPDR ETF (XLU) and SPDR Portfolio S&P 500 Value ETF (SPYV). 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.

	XLU	SPYV	Difference
Sharpe ratio: Return per unit of total volatility	0.71	2.04	-1.33
Sortino ratio: Return per unit of downside risk	1.04	2.86	-1.82
Omega ratio: Gain probability vs. loss probability	1.13	1.36	-0.24
Calmar ratio: Return relative to maximum drawdown	1.12	3.24	-2.12
Martin ratio: Return relative to average drawdown	2.47	12.39	-9.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XLU vs. SPYV - Sharpe Ratio Comparison

The current XLU Sharpe Ratio is 0.71, which is lower than the SPYV Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of XLU and SPYV, 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

	XLU	SPYV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.71	2.04	-1.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.75	-0.22
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	0.70	-0.23
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.42	-0.03

Drawdowns

XLU vs. SPYV - Drawdown Comparison

The maximum XLU drawdown since its inception was -51.98%, smaller than the maximum SPYV drawdown of -58.45%. Use the drawdown chart below to compare losses from any high point for XLU and SPYV.

Drawdown Indicators

	XLU	SPYV	Difference
Max Drawdown Largest peak-to-trough decline	-51.98%	-58.45%	+6.47%
Max Drawdown (1Y) Largest decline over 1 year	-9.18%	-6.22%	-2.96%
Max Drawdown (3Y) Largest decline over 3 years	-17.26%	-17.54%	+0.28%
Max Drawdown (5Y) Largest decline over 5 years	-25.26%	-17.89%	-7.37%
Max Drawdown (10Y) Largest decline over 10 years	-36.07%	-36.89%	+0.82%
Current Drawdown Current decline from peak	-8.18%	-1.35%	-6.83%
Average Drawdown Average peak-to-trough decline	-10.22%	-8.71%	-1.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.16%	1.62%	+2.54%

Volatility

XLU vs. SPYV - Volatility Comparison

State Street Utilities Select Sector SPDR ETF (XLU) has a higher volatility of 5.60% compared to SPDR Portfolio S&P 500 Value ETF (SPYV) at 2.28%. This indicates that XLU's price experiences larger fluctuations and is considered to be riskier than SPYV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XLU	SPYV	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.60%	2.28%	+3.32%
Volatility (6M) Calculated over the trailing 6-month period	11.70%	7.18%	+4.52%
Volatility (1Y) Calculated over the trailing 1-year period	14.64%	9.91%	+4.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.34%	14.41%	+2.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.27%	16.95%	+2.32%

XLU vs. SPYV - Expense Ratio Comparison

XLU has a 0.08% expense ratio, which is higher than SPYV's 0.04% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

XLU vs. SPYV - Dividend Comparison

XLU's dividend yield for the trailing twelve months is around 2.73%, more than SPYV's 1.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPYV SPDR Portfolio S&P 500 Value ETF	1.70%	1.77%	2.29%	1.75%	2.22%	2.10%	2.38%	2.25%	2.97%	2.77%	2.39%	2.53%
XLU State Street Utilities Select Sector SPDR ETF	2.73%	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 XLU and SPYV in my portfolio?

XLU and SPYV have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XLU or SPYV?

XLU has higher volatility (5.60%) compared to SPYV (2.28%). In terms of maximum drawdown, XLU dropped -51.98% vs SPYV's -58.45%.

Which ETF is better, XLU or SPYV?

On 10-year performance, SPYV leads with 11.83% vs 8.99% for XLU. On fees, SPYV is cheaper at 0.04% per year. On volatility, SPYV has been the lower-risk option at 2.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XLU or SPYV?

Over the 10-year period, SPYV has performed better with a 11.83% return vs 8.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XLU or SPYV?

SPYV is cheaper with a 0.04% expense ratio, compared with 0.08% for XLU.

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

XLU has the higher dividend yield at 2.73%, compared with 1.70% for SPYV.

What is the main difference between XLU and SPYV?

XLU is categorized as Utilities Equities, while SPYV is S&P 500. XLU tracks Utilities Select Sector Index, while SPYV tracks S&P 500 Value Index. Their fees differ too: 0.08% for XLU and 0.04% for SPYV.

Which has better risk-adjusted returns?

SPYV currently has the higher Sharpe Ratio (2.04 vs 0.70), 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.