XOUT vs. ILCB

Last updated Jun 4, 2026

XOUT (GraniteShares XOUT U.S. Large Cap ETF) and ILCB (iShares Morningstar U.S. Equity ETF) are both Large Cap Growth Equities funds - XOUT tracks the XOUT U.S. Large Cap Index while ILCB tracks the Morningstar US Large-Mid Cap Index. Both are passively managed. Over the past 5 years, XOUT returned 10.93%/yr vs 13.45%/yr for ILCB. Their correlation of 0.89 suggests significant overlap in exposure. XOUT charges 0.60%/yr vs 0.03%/yr for ILCB.

Performance

XOUT vs. ILCB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares XOUT U.S. Large Cap ETF (XOUT) and iShares Morningstar U.S. Equity ETF (ILCB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XOUT achieves a -3.24% return, which is significantly lower than ILCB's 11.12% return.

XOUT

• 1D: -2.27%
• 1M: 9.28%
• YTD: -3.24%
• 6M: -4.85%
• 1Y: 8.51%
• 3Y*: 18.88%
• 5Y*: 10.93%
• 10Y*: —

ILCB

• 1D: -0.67%
• 1M: 5.29%
• YTD: 11.12%
• 6M: 11.10%
• 1Y: 28.03%
• 3Y*: 22.69%
• 5Y*: 13.45%
• 10Y*: 15.00%

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

XOUT vs. ILCB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
XOUT GraniteShares XOUT U.S. Large Cap ETF	-3.24%	18.18%	23.11%	42.32%	-28.18%	26.13%	28.71%	11.32%
ILCB iShares Morningstar U.S. Equity ETF	11.12%	17.70%	24.96%	26.91%	-19.48%	24.07%	19.40%	11.61%

Correlation

The correlation between XOUT and ILCB is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (All Time) Calculated using the full available price history since Oct 8, 2019	0.89

The correlation between XOUT and ILCB shifts across timeframes, from 0.70 (1 year) to 0.89 (all time), reflecting how their relationship changes across market environments.

XOUT vs. ILCB - Sectors Allocation Comparison

Sectors	XOUT	ILCB
Technology	35.1%	35.5%
Healthcare	17.3%	8.6%
Consumer Cyclical	15.4%	10.1%
Communication Services	12.4%	11.4%
Financial Services	9.6%	11.7%
Consumer Defensive	5.7%	4.8%
Industrials	3.3%	8.6%
Basic Materials	0.6%	1.8%
Real Estate	0.4%	1.8%
Energy	0.2%	3.5%
Utilities	-	2.3%

Return for Risk

XOUT vs. ILCB — Risk / Return Rank

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

XOUT

XOUT Risk / Return Rank: 14
XOUT Sharpe Ratio Rank: 15
XOUT Sortino Ratio Rank: 15
XOUT Omega Ratio Rank: 15
XOUT Calmar Ratio Rank: 13
XOUT Martin Ratio Rank: 13

ILCB

ILCB Risk / Return Rank: 69
ILCB Sharpe Ratio Rank: 70
ILCB Sortino Ratio Rank: 69
ILCB Omega Ratio Rank: 70
ILCB Calmar Ratio Rank: 62
ILCB Martin Ratio Rank: 75

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.

XOUT vs. ILCB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares XOUT U.S. Large Cap ETF (XOUT) and iShares Morningstar U.S. Equity ETF (ILCB). 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.

	XOUT	ILCB	Difference
Sharpe ratio: Return per unit of total volatility	0.44	2.35	-1.91
Sortino ratio: Return per unit of downside risk	0.72	3.20	-2.48
Omega ratio: Gain probability vs. loss probability	1.09	1.42	-0.33
Calmar ratio: Return relative to maximum drawdown	0.37	3.10	-2.73
Martin ratio: Return relative to average drawdown	0.92	14.24	-13.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XOUT vs. ILCB - Sharpe Ratio Comparison

The current XOUT Sharpe Ratio is 0.44, which is lower than the ILCB Sharpe Ratio of 2.35. The chart below compares the historical Sharpe Ratios of XOUT and ILCB, 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

	XOUT	ILCB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.44	2.35	-1.91
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	0.79	-0.29
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.83	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.67	0.64	+0.03

Drawdowns

XOUT vs. ILCB - Drawdown Comparison

The maximum XOUT drawdown since its inception was -31.29%, smaller than the maximum ILCB drawdown of -51.53%. Use the drawdown chart below to compare losses from any high point for XOUT and ILCB.

Drawdown Indicators

	XOUT	ILCB	Difference
Max Drawdown Largest peak-to-trough decline	-31.29%	-51.53%	+20.24%
Max Drawdown (1Y) Largest decline over 1 year	-23.21%	-9.09%	-14.12%
Max Drawdown (3Y) Largest decline over 3 years	-23.77%	-19.05%	-4.72%
Max Drawdown (5Y) Largest decline over 5 years	-31.29%	-25.47%	-5.82%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.30%	—
Current Drawdown Current decline from peak	-6.09%	-0.67%	-5.42%
Average Drawdown Average peak-to-trough decline	-8.41%	-6.24%	-2.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.25%	1.97%	+7.28%

Volatility

XOUT vs. ILCB - Volatility Comparison

GraniteShares XOUT U.S. Large Cap ETF (XOUT) has a higher volatility of 7.48% compared to iShares Morningstar U.S. Equity ETF (ILCB) at 2.88%. This indicates that XOUT's price experiences larger fluctuations and is considered to be riskier than ILCB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XOUT	ILCB	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.48%	2.88%	+4.60%
Volatility (6M) Calculated over the trailing 6-month period	16.17%	9.10%	+7.07%
Volatility (1Y) Calculated over the trailing 1-year period	19.55%	12.02%	+7.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.78%	17.13%	+4.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.23%	18.16%	+5.07%

XOUT vs. ILCB - Expense Ratio Comparison

XOUT has a 0.60% expense ratio, which is higher than ILCB's 0.03% expense ratio.

Dividends

XOUT vs. ILCB - Dividend Comparison

XOUT has not paid dividends to shareholders, while ILCB's dividend yield for the trailing twelve months is around 0.97%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ILCB iShares Morningstar U.S. Equity ETF	0.97%	1.11%	1.19%	1.43%	1.65%	1.16%	1.26%	2.25%	2.17%	1.81%	1.97%	2.44%
XOUT GraniteShares XOUT U.S. Large Cap ETF	0.00%	0.00%	0.00%	0.40%	0.51%	0.28%	0.53%	0.19%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XOUT and ILCB in my portfolio?

XOUT and ILCB have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XOUT or ILCB?

XOUT has higher volatility (7.48%) compared to ILCB (2.88%). In terms of maximum drawdown, XOUT dropped -31.29% vs ILCB's -51.53%.

Which ETF is better, XOUT or ILCB?

On 5-year performance, ILCB leads with 13.45% vs 10.93% for XOUT. On fees, ILCB is cheaper at 0.03% per year. On volatility, ILCB has been the lower-risk option at 2.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XOUT or ILCB?

Over the 5-year period, ILCB has performed better with a 13.45% return vs 10.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XOUT or ILCB?

ILCB is cheaper with a 0.03% expense ratio, compared with 0.60% for XOUT.

Which ETF pays a higher dividend yield, XOUT or ILCB?

ILCB has the higher dividend yield at 0.97%, compared with 0.00% for XOUT.

What is the main difference between XOUT and ILCB?

XOUT tracks XOUT U.S. Large Cap Index, while ILCB tracks Morningstar US Large-Mid Cap Index. They also come from different issuers: GraniteShares and iShares. Their fees differ too: 0.60% for XOUT and 0.03% for ILCB.

Which has better risk-adjusted returns?

ILCB currently has the higher Sharpe Ratio (2.35 vs 0.44), 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.