XOEX vs. THLV

Last updated Jun 3, 2026

XOEX (Xtrackers S&P 100 Ex Top 20 ETF) and THLV (THOR Equal Weight Low Volatility ETF) are both Large Cap Blend Equities funds - XOEX tracks the S&P 100 Ex-Top 20 Select Index while THLV tracks the THOR Equal Weight Low Volatility Index. Both are passively managed. Over the past 3 years, XOEX returned 18.54%/yr vs 12.73%/yr for THLV. Their correlation of 0.84 suggests significant overlap in exposure. XOEX charges 0.15%/yr vs 0.64%/yr for THLV.

Performance

XOEX vs. THLV - 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 THOR Equal Weight Low Volatility ETF (THLV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with XOEX having a 10.27% return and THLV slightly lower at 9.91%.

XOEX

• 1D: 0.32%
• 1M: 5.72%
• YTD: 10.27%
• 6M: 11.56%
• 1Y: 29.75%
• 3Y*: 18.54%
• 5Y*: —
• 10Y*: —

THLV

• 1D: 0.72%
• 1M: 1.84%
• YTD: 9.91%
• 6M: 10.38%
• 1Y: 19.47%
• 3Y*: 12.73%
• 5Y*: —
• 10Y*: —

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

XOEX vs. THLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
XOEX Xtrackers S&P 100 Ex Top 20 ETF	10.27%	18.97%	12.07%	15.99%	2.98%
THLV THOR Equal Weight Low Volatility ETF	9.91%	10.50%	9.52%	5.88%	2.26%

Correlation

The correlation between XOEX and THLV is 0.78, 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	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (All Time) Calculated using the full available price history since Nov 10, 2022	0.84

The correlation between XOEX and THLV has been stable across timeframes, ranging from 0.78 to 0.84 - a consistent structural relationship.

XOEX vs. THLV - Sectors Allocation Comparison

Sectors	XOEX	THLV
Technology	26.7%	15.7%
Healthcare	16.7%	12.5%
Financial Services	15.5%	13.8%
Industrials	14.6%	13.5%
Consumer Defensive	7.7%	13.7%
Communication Services	5.1%	0.1%
Consumer Cyclical	4.8%	15.7%
Energy	3.4%	17.5%
Utilities	2.6%	14.7%
Basic Materials	1.7%	12.2%
Real Estate	1.1%	14.3%

Return for Risk

XOEX vs. THLV — Risk / Return Rank

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

XOEX

XOEX Risk / Return Rank: 81
XOEX Sharpe Ratio Rank: 82
XOEX Sortino Ratio Rank: 85
XOEX Omega Ratio Rank: 80
XOEX Calmar Ratio Rank: 78
XOEX Martin Ratio Rank: 81

THLV

THLV Risk / Return Rank: 57
THLV Sharpe Ratio Rank: 58
THLV Sortino Ratio Rank: 58
THLV Omega Ratio Rank: 57
THLV Calmar Ratio Rank: 58
THLV Martin Ratio Rank: 52

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. THLV - 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 THOR Equal Weight Low Volatility ETF (THLV). 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	THLV	Difference
Sharpe ratio Return per unit of total volatility	2.73	1.99	+0.74
Sortino ratio Return per unit of downside risk	3.90	2.80	+1.10
Omega ratio Gain probability vs. loss probability	1.49	1.35	+0.14
Calmar ratio Return relative to maximum drawdown	4.08	2.96	+1.12
Martin ratio Return relative to average drawdown	16.33	9.02	+7.31
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. THLV - Sharpe Ratio Comparison

The current XOEX Sharpe Ratio is 2.73, which is higher than the THLV Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of XOEX and THLV, 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	THLV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.73	1.99	+0.74
Sharpe Ratio (All Time) Calculated using the full available price history	1.29	0.89	+0.40

Drawdowns

XOEX vs. THLV - Drawdown Comparison

The maximum XOEX drawdown since its inception was -14.68%, which is greater than THLV's maximum drawdown of -13.15%. Use the drawdown chart below to compare losses from any high point for XOEX and THLV.

Drawdown Indicators

	XOEX	THLV	Difference
Max Drawdown Largest peak-to-trough decline	-14.68%	-13.15%	-1.53%
Max Drawdown (1Y) Largest decline over 1 year	-7.31%	-6.66%	-0.65%
Max Drawdown (3Y) Largest decline over 3 years	-14.68%	-13.15%	-1.53%
Current Drawdown Current decline from peak	0.00%	-1.61%	+1.61%
Average Drawdown Average peak-to-trough decline	-2.65%	-3.74%	+1.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.83%	2.18%	-0.35%

Volatility

XOEX vs. THLV - Volatility Comparison

Xtrackers S&P 100 Ex Top 20 ETF (XOEX) and THOR Equal Weight Low Volatility ETF (THLV) have volatilities of 3.39% and 3.54%, 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	THLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.39%	3.54%	-0.15%
Volatility (6M) Calculated over the trailing 6-month period	8.28%	7.50%	+0.78%
Volatility (1Y) Calculated over the trailing 1-year period	10.94%	9.83%	+1.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.42%	11.74%	+1.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.42%	11.74%	+1.68%

XOEX vs. THLV - Expense Ratio Comparison

XOEX has a 0.15% expense ratio, which is lower than THLV's 0.64% expense ratio.

Dividends

XOEX vs. THLV - Dividend Comparison

XOEX's dividend yield for the trailing twelve months is around 1.59%, less than THLV's 1.61% yield.

Position	TTM	2025	2024	2023	2022
THLV THOR Equal Weight Low Volatility ETF	1.61%	1.77%	1.25%	2.72%	0.62%
XOEX Xtrackers S&P 100 Ex Top 20 ETF	1.59%	1.95%	2.09%	1.72%	0.42%

Frequently Asked Questions

Can I hold both XOEX and THLV in my portfolio?

XOEX and THLV have a correlation of 0.78, 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 THLV?

THLV has higher volatility (3.54%) compared to XOEX (3.39%). In terms of maximum drawdown, XOEX dropped -14.68% vs THLV's -13.15%.

Which ETF is better, XOEX or THLV?

On 3-year performance, XOEX leads with 18.54% vs 12.73% for THLV. On fees, XOEX is cheaper at 0.15% per year. On volatility, XOEX has been the lower-risk option at 3.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XOEX or THLV?

Over the 3-year period, XOEX has performed better with a 18.54% return vs 12.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XOEX or THLV?

XOEX is cheaper with a 0.15% expense ratio, compared with 0.64% for THLV.

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

THLV has the higher dividend yield at 1.61%, compared with 1.59% for XOEX.

What is the main difference between XOEX and THLV?

XOEX tracks S&P 100 Ex-Top 20 Select Index, while THLV tracks THOR Equal Weight Low Volatility Index. They also come from different issuers: Xtrackers and THOR. Their fees differ too: 0.15% for XOEX and 0.64% for THLV.

Which has better risk-adjusted returns?

XOEX currently has the higher Sharpe Ratio (2.73 vs 1.99), 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.