XOEX vs. MGC

Last updated Jun 4, 2026

XOEX (Xtrackers S&P 100 Ex Top 20 ETF) and MGC (Vanguard Mega Cap ETF) are both Large Cap Blend Equities funds - XOEX tracks the S&P 100 Ex-Top 20 Select Index while MGC tracks the CRSP US Mega Cap Index. Both are passively managed. Over the past 3 years, XOEX returned 18.33%/yr vs 23.87%/yr for MGC. A 0.77 correlation means they provide meaningful diversification when combined. XOEX charges 0.15%/yr vs 0.05%/yr for MGC.

Performance

XOEX vs. MGC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers S&P 100 Ex Top 20 ETF (XOEX) and Vanguard Mega Cap ETF (MGC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XOEX achieves a 9.69% return, which is significantly lower than MGC's 10.80% return.

XOEX

• 1D: -0.53%
• 1M: 6.34%
• YTD: 9.69%
• 6M: 10.33%
• 1Y: 28.12%
• 3Y*: 18.33%
• 5Y*: —
• 10Y*: —

MGC

• 1D: -0.79%
• 1M: 5.59%
• YTD: 10.80%
• 6M: 10.75%
• 1Y: 29.68%
• 3Y*: 23.87%
• 5Y*: 14.70%
• 10Y*: 16.36%

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

XOEX vs. MGC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
XOEX Xtrackers S&P 100 Ex Top 20 ETF	9.69%	18.97%	12.07%	15.99%	2.98%
MGC Vanguard Mega Cap ETF	10.80%	19.31%	27.16%	29.77%	2.54%

Correlation

The correlation between XOEX and MGC is 0.77, 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	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (All Time) Calculated using the full available price history since Nov 10, 2022	0.77

The correlation between XOEX and MGC has been stable across timeframes, ranging from 0.73 to 0.77 - a consistent structural relationship.

XOEX vs. MGC - Sectors Allocation Comparison

Sectors	XOEX	MGC
Technology	26.7%	39.3%
Healthcare	16.7%	8.9%
Financial Services	15.5%	11.7%
Industrials	14.6%	6.5%
Consumer Defensive	7.7%	4.8%
Communication Services	5.1%	13.1%
Consumer Cyclical	4.8%	10.1%
Energy	3.4%	2.6%
Utilities	2.6%	1.0%
Basic Materials	1.7%	1.2%
Real Estate	1.1%	1.0%

Return for Risk

XOEX vs. MGC — Risk / Return Rank

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

XOEX

XOEX Risk / Return Rank: 80
XOEX Sharpe Ratio Rank: 80
XOEX Sortino Ratio Rank: 83
XOEX Omega Ratio Rank: 78
XOEX Calmar Ratio Rank: 77
XOEX Martin Ratio Rank: 79

MGC

MGC Risk / Return Rank: 69
MGC Sharpe Ratio Rank: 73
MGC Sortino Ratio Rank: 71
MGC Omega Ratio Rank: 71
MGC Calmar Ratio Rank: 60
MGC Martin Ratio Rank: 71

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.

XOEX vs. MGC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers S&P 100 Ex Top 20 ETF (XOEX) and Vanguard Mega Cap ETF (MGC). 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.

	XOEX	MGC	Difference
Sharpe ratio Return per unit of total volatility	2.58	2.42	+0.16
Sortino ratio Return per unit of downside risk	3.70	3.30	+0.41
Omega ratio Gain probability vs. loss probability	1.46	1.43	+0.03
Calmar ratio Return relative to maximum drawdown	3.86	3.03	+0.83
Martin ratio Return relative to average drawdown	15.43	13.61	+1.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XOEX vs. MGC - Sharpe Ratio Comparison

The current XOEX Sharpe Ratio is 2.58, which is comparable to the MGC Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of XOEX and MGC, 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

	XOEX	MGC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.58	2.42	+0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.86	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.90	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.27	0.60	+0.67

Drawdowns

XOEX vs. MGC - Drawdown Comparison

The maximum XOEX drawdown since its inception was -14.68%, smaller than the maximum MGC drawdown of -51.93%. Use the drawdown chart below to compare losses from any high point for XOEX and MGC.

Drawdown Indicators

	XOEX	MGC	Difference
Max Drawdown Largest peak-to-trough decline	-14.68%	-51.93%	+37.25%
Max Drawdown (1Y) Largest decline over 1 year	-7.31%	-9.85%	+2.54%
Max Drawdown (3Y) Largest decline over 3 years	-14.68%	-19.28%	+4.60%
Max Drawdown (5Y) Largest decline over 5 years	—	-25.74%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.07%	—
Current Drawdown Current decline from peak	-0.53%	-0.79%	+0.26%
Average Drawdown Average peak-to-trough decline	-2.65%	-7.06%	+4.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.83%	2.19%	-0.36%

Volatility

XOEX vs. MGC - Volatility Comparison

Xtrackers S&P 100 Ex Top 20 ETF (XOEX) and Vanguard Mega Cap ETF (MGC) have volatilities of 3.18% and 3.04%, 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

	XOEX	MGC	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.18%	3.04%	+0.14%
Volatility (6M) Calculated over the trailing 6-month period	8.30%	9.27%	-0.97%
Volatility (1Y) Calculated over the trailing 1-year period	10.96%	12.32%	-1.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.42%	17.27%	-3.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.42%	18.21%	-4.79%

XOEX vs. MGC - Expense Ratio Comparison

XOEX has a 0.15% expense ratio, which is higher than MGC's 0.05% 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

XOEX vs. MGC - Dividend Comparison

XOEX's dividend yield for the trailing twelve months is around 1.60%, more than MGC's 0.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MGC Vanguard Mega Cap ETF	0.87%	0.93%	1.15%	1.35%	1.65%	1.17%	1.45%	1.81%	2.10%	1.83%	2.14%	2.11%
XOEX Xtrackers S&P 100 Ex Top 20 ETF	1.60%	1.95%	2.09%	1.72%	0.42%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XOEX and MGC in my portfolio?

XOEX and MGC have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XOEX or MGC?

XOEX has higher volatility (3.18%) compared to MGC (3.04%). In terms of maximum drawdown, XOEX dropped -14.68% vs MGC's -51.93%.

Which ETF is better, XOEX or MGC?

On 3-year performance, MGC leads with 23.87% vs 18.33% for XOEX. On fees, MGC is cheaper at 0.05% per year. On volatility, MGC has been the lower-risk option at 3.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XOEX or MGC?

Over the 3-year period, MGC has performed better with a 23.87% return vs 18.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XOEX or MGC?

MGC is cheaper with a 0.05% expense ratio, compared with 0.15% for XOEX.

Which ETF pays a higher dividend yield, XOEX or MGC?

XOEX has the higher dividend yield at 1.60%, compared with 0.87% for MGC.

What is the main difference between XOEX and MGC?

XOEX tracks S&P 100 Ex-Top 20 Select Index, while MGC tracks CRSP US Mega Cap Index. They also come from different issuers: Xtrackers and Vanguard. Their fees differ too: 0.15% for XOEX and 0.05% for MGC.

Which has better risk-adjusted returns?

XOEX currently has the higher Sharpe Ratio (2.58 vs 2.42), 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.