XOEF vs. DIVG

Last updated Jul 21, 2026

XOEF (iShares S&P 500 ex S&P 100 ETF) and DIVG (Invesco S&P 500 High Dividend Growers ETF) are both S&P 500 funds - XOEF tracks the S&P 500 Ex-S&P 100 Select Index while DIVG tracks the S&P 500 High Dividend Growth Index - Benchmark TR Gross. Both are passively managed. Over the past year, XOEF returned 18.97% vs 21.46% for DIVG. A 0.60 correlation means they provide meaningful diversification when combined. XOEF charges 0.20%/yr vs 0.39%/yr for DIVG.

Performance

XOEF vs. DIVG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares S&P 500 ex S&P 100 ETF (XOEF) and Invesco S&P 500 High Dividend Growers ETF (DIVG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XOEF achieves a 13.96% return, which is significantly lower than DIVG's 16.49% return.

XOEF

• 1D: -0.44%
• 1M: -1.24%
• 6M: 8.68%
• YTD: 13.96%
• 1Y: 18.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 18.24%

DIVG

• 1D: -0.65%
• 1M: 4.39%
• 6M: 12.87%
• YTD: 16.49%
• 1Y: 21.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 19.59%

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

XOEF vs. DIVG - Yearly Performance Comparison

	2026 (YTD)	2025
XOEF iShares S&P 500 ex S&P 100 ETF	13.96%	4.27%
DIVG Invesco S&P 500 High Dividend Growers ETF	16.49%	4.83%

Correlation

The correlation between XOEF and DIVG is 0.60, 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	0.60
Correlation (All Time) Calculated using the full available price history since Jul 9, 2025	0.60

The correlation between XOEF and DIVG has been stable across timeframes, ranging from 0.60 to 0.60 - a consistent structural relationship.

Return for Risk

XOEF vs. DIVG — Risk / Return Rank

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

XOEF

XOEF Risk / Return Rank: 63
XOEF Sharpe Ratio Rank: 60
XOEF Sortino Ratio Rank: 61
XOEF Omega Ratio Rank: 55
XOEF Calmar Ratio Rank: 67
XOEF Martin Ratio Rank: 72

DIVG

DIVG Risk / Return Rank: 84
DIVG Sharpe Ratio Rank: 82
DIVG Sortino Ratio Rank: 85
DIVG Omega Ratio Rank: 77
DIVG Calmar Ratio Rank: 91
DIVG Martin Ratio Rank: 87

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.

XOEF vs. DIVG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 ex S&P 100 ETF (XOEF) and Invesco S&P 500 High Dividend Growers ETF (DIVG). 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.

	XOEF	DIVG	Difference
Sharpe ratio: Return per unit of total volatility	1.48	1.97	-0.49
Sortino ratio: Return per unit of downside risk	2.15	2.95	-0.80
Omega ratio: Gain probability vs. loss probability	1.26	1.34	-0.08
Calmar ratio: Return relative to maximum drawdown	2.49	4.21	-1.72
Martin ratio: Return relative to average drawdown	9.52	13.38	-3.86

XOEF vs. DIVG - Sharpe Ratio Comparison

The current XOEF Sharpe Ratio is 1.48, which is comparable to the DIVG Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of XOEF and DIVG, 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

XOEF vs. DIVG - Drawdown Comparison

The maximum XOEF drawdown since its inception was -7.66%, smaller than the maximum DIVG drawdown of -14.95%. Use the drawdown chart below to compare losses from any high point for XOEF and DIVG.

Drawdown Indicators

	XOEF	DIVG	Difference
Max Drawdown Largest peak-to-trough decline	-7.66%	-14.95%	+7.29%
Max Drawdown (1Y) Largest decline over 1 year	-7.66%	-5.13%	-2.53%
Current Drawdown Current decline from peak	-2.87%	-0.99%	-1.88%
Average Drawdown Average peak-to-trough decline	-1.27%	-2.21%	+0.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.00%	1.61%	+0.39%

Volatility

XOEF vs. DIVG - Volatility Comparison

iShares S&P 500 ex S&P 100 ETF (XOEF) and Invesco S&P 500 High Dividend Growers ETF (DIVG) have volatilities of 3.32% and 3.40%, 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

	XOEF	DIVG	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.32%	3.40%	-0.08%
Volatility (6M) Calculated over the trailing 6-month period	9.95%	7.69%	+2.26%
Volatility (1Y) Calculated over the trailing 1-year period	12.86%	10.94%	+1.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.76%	13.14%	-0.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.76%	13.14%	-0.38%

XOEF vs. DIVG - Expense Ratio Comparison

XOEF has a 0.20% expense ratio, which is lower than DIVG's 0.39% expense ratio.

Dividends

XOEF vs. DIVG - Dividend Comparison

XOEF's dividend yield for the trailing twelve months is around 1.06%, less than DIVG's 3.24% yield.

Position	TTM	2025	2024
DIVG Invesco S&P 500 High Dividend Growers ETF	3.24%	3.15%	4.08%
XOEF iShares S&P 500 ex S&P 100 ETF	1.06%	0.63%	0.00%

Frequently Asked Questions

Can I hold both XOEF and DIVG in my portfolio?

XOEF and DIVG have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XOEF or DIVG?

DIVG has higher volatility (3.40%) compared to XOEF (3.32%). In terms of maximum drawdown, XOEF dropped -7.66% vs DIVG's -14.95%.

Which ETF is better, XOEF or DIVG?

On 1-year performance, DIVG leads with 21.46% vs 18.97% for XOEF. On fees, XOEF is cheaper at 0.20% 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, XOEF or DIVG?

Over the 1-year period, DIVG has performed better with a 21.46% return vs 18.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XOEF or DIVG?

XOEF is cheaper with a 0.20% expense ratio, compared with 0.39% for DIVG.

Which ETF pays a higher dividend yield, XOEF or DIVG?

DIVG has the higher dividend yield at 3.24%, compared with 1.06% for XOEF.

What is the main difference between XOEF and DIVG?

XOEF tracks S&P 500 Ex-S&P 100 Select Index, while DIVG tracks S&P 500 High Dividend Growth Index - Benchmark TR Gross. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.20% for XOEF and 0.39% for DIVG.

Which has better risk-adjusted returns?

DIVG currently has the higher Sharpe Ratio (1.97 vs 1.48), 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.