XRT vs. EMTY
XRT (SPDR S&P Retail ETF) and EMTY (ProShares Decline of the Retail Store ETF) are both exchange-traded funds - XRT is a Consumer Discretionary Equities fund tracking the S&P Retail Select Industry, while EMTY is a Inverse Equities fund tracking the Solactive-ProShares Bricks and Mortar Retail Store Index (-100%). Both are passively managed. Over the past 5 years, XRT returned -0.91%/yr vs -2.54%/yr for EMTY. At a correlation of -0.91, they often move in opposite directions. XRT charges 0.35%/yr vs 0.66%/yr for EMTY.
Performance
XRT vs. EMTY - Performance Comparison
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Returns By Period
In the year-to-date period, XRT achieves a 1.06% return, which is significantly higher than EMTY's 0.39% return.
XRT
- 1D
- 0.32%
- 1M
- 4.15%
- YTD
- 1.06%
- 6M
- -0.21%
- 1Y
- 12.05%
- 3Y*
- 12.88%
- 5Y*
- -0.91%
- 10Y*
- 9.25%
EMTY
- 1D
- -0.42%
- 1M
- 0.32%
- YTD
- 0.39%
- 6M
- 1.16%
- 1Y
- -0.49%
- 3Y*
- -3.59%
- 5Y*
- -2.54%
- 10Y*
- —
XRT vs. EMTY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XRT SPDR S&P Retail ETF | 1.06% | 8.07% | 11.78% | 21.53% | -31.64% | 42.60% | 41.91% | 14.12% | -8.04% | 13.80% |
EMTY ProShares Decline of the Retail Store ETF | 0.39% | -1.76% | -4.13% | 0.27% | 4.32% | -37.39% | -31.92% | -8.65% | 11.16% | -15.97% |
Correlation
The correlation between XRT and EMTY is -0.87, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.91 |
Correlation (All Time) Calculated using the full available price history since Nov 16, 2017 | -0.91 |
The correlation between XRT and EMTY has been stable across timeframes, ranging from -0.91 to -0.87 - a consistent structural relationship.
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Return for Risk
XRT vs. EMTY — Risk / Return Rank
XRT
EMTY
XRT vs. EMTY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Retail ETF (XRT) and ProShares Decline of the Retail Store ETF (EMTY). 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.
| XRT | EMTY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.62 | ||
| Sortino ratioReturn per unit of downside risk | +0.93 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.01 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.89 | -0.04 | +0.93 |
| Martin ratioReturn relative to average drawdown | 2.02 | -0.07 | +2.09 |
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Drawdowns
XRT vs. EMTY - Drawdown Comparison
The maximum XRT drawdown since its inception was -65.81%, smaller than the maximum EMTY drawdown of -77.62%. Use the drawdown chart below to compare losses from any high point for XRT and EMTY.
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Drawdown Indicators
| XRT | EMTY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.81% | -77.62% | +11.81% |
Max Drawdown (1Y)Largest decline over 1 year | -13.53% | -13.91% | +0.38% |
Max Drawdown (3Y)Largest decline over 3 years | -25.62% | -30.83% | +5.21% |
Max Drawdown (5Y)Largest decline over 5 years | -44.57% | -30.83% | -13.74% |
Max Drawdown (10Y)Largest decline over 10 years | -47.02% | — | — |
Current DrawdownCurrent decline from peak | -11.14% | -74.94% | +63.80% |
Average DrawdownAverage peak-to-trough decline | -14.99% | -54.39% | +39.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.97% | 7.26% | -1.29% |
Volatility
XRT vs. EMTY - Volatility Comparison
SPDR S&P Retail ETF (XRT) has a higher volatility of 6.36% compared to ProShares Decline of the Retail Store ETF (EMTY) at 5.20%. This indicates that XRT's price experiences larger fluctuations and is considered to be riskier than EMTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XRT | EMTY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.36% | 5.20% | +1.16% |
Volatility (6M)Calculated over the trailing 6-month period | 14.34% | 12.81% | +1.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.60% | 17.77% | +2.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.93% | 22.36% | +4.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.19% | 25.63% | +1.56% |
XRT vs. EMTY - Expense Ratio Comparison
XRT has a 0.35% expense ratio, which is lower than EMTY's 0.66% expense ratio.
Dividends
XRT vs. EMTY - Dividend Comparison
XRT's dividend yield for the trailing twelve months is around 0.79%, less than EMTY's 3.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMTY ProShares Decline of the Retail Store ETF | 3.47% | 3.83% | 6.00% | 4.41% | 0.65% | 0.00% | 0.07% | 0.82% | 0.62% | 0.03% | 0.00% | 0.00% |
XRT SPDR S&P Retail ETF | 0.79% | 0.77% | 1.52% | 1.40% | 2.15% | 1.55% | 1.01% | 1.57% | 1.51% | 1.52% | 1.36% | 1.30% |
Frequently Asked Questions
XRT and EMTY have a correlation of -0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XRT has higher volatility (6.36%) compared to EMTY (5.20%). In terms of maximum drawdown, XRT dropped -65.81% vs EMTY's -77.62%.
On 5-year performance, XRT leads with -0.91% vs -2.54% for EMTY. On fees, XRT is cheaper at 0.35% per year. On volatility, EMTY has been the lower-risk option at 5.20%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, XRT has performed better with a -0.91% return vs -2.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XRT is cheaper with a 0.35% expense ratio, compared with 0.66% for EMTY.
EMTY has the higher dividend yield at 3.47%, compared with 0.79% for XRT.
XRT is categorized as Consumer Discretionary Equities, while EMTY is Inverse Equities. XRT tracks S&P Retail Select Industry, while EMTY tracks Solactive-ProShares Bricks and Mortar Retail Store Index (-100%). They also come from different issuers: State Street and ProShares. Their fees differ too: 0.35% for XRT and 0.66% for EMTY.
XRT currently has the higher Sharpe Ratio (0.59 vs -0.03), 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.
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