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 Index, 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 1.12%/yr vs -3.74%/yr for EMTY. Their -0.91 correlation means they have often moved in opposite directions in the past. 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 7.76% return, which is significantly higher than EMTY's -4.47% return.
XRT
- 1D
- 1.87%
- 1M
- 3.86%
- 6M
- 4.50%
- YTD
- 7.76%
- 1Y
- 18.43%
- 3Y*
- 12.43%
- 5Y*
- 1.12%
- 10Y*
- 9.00%
- ALL TIME*
- 9.68%
EMTY
- 1D
- -2.25%
- 1M
- -2.95%
- 6M
- 1.80%
- YTD
- -4.47%
- 1Y
- -2.51%
- 3Y*
- -4.31%
- 5Y*
- -3.74%
- 10Y*
- —
- ALL TIME*
- -11.58%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $19.65K | $31.10K | $48.52K | |
| $433.01M | $377.95M | $454.29M |
XRT vs. EMTY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XRT SPDR S&P Retail ETF | 7.76% | 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 | -4.47% | -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 have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.87 |
Correlation (3Y) Balances recent behavior with more history. | -0.91 |
Correlation (5Y) Shows whether the relationship held over a longer 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 | +1.02 | ||
| Sortino ratioReturn per unit of downside risk | +1.49 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 0.99 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.37 | -0.18 | +1.55 |
| Martin ratioReturn relative to average drawdown | 3.09 | -0.39 | +3.49 |
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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 | -5.26% | -76.16% | +70.90% |
Average DrawdownAverage peak-to-trough decline | -14.95% | -54.66% | +39.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.97% | 6.52% | -0.55% |
Volatility
XRT vs. EMTY - Volatility Comparison
The current volatility for SPDR S&P Retail ETF (XRT) is 6.29%, while ProShares Decline of the Retail Store ETF (EMTY) has a volatility of 6.89%. This indicates that XRT experiences smaller price fluctuations and is considered to be less risky 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 | 6.29% | 6.89% | -0.60% |
Volatility (6M)Calculated over the trailing 6-month period | 15.03% | 13.96% | +1.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.91% | 18.51% | +2.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.91% | 22.49% | +4.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.20% | 25.60% | +1.60% |
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 0.74%, less than EMTY's 3.41% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMTY ProShares Decline of the Retail Store ETF | 3.41% | 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 | 0.74% | 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.
EMTY has higher volatility (6.89%) compared to XRT (6.29%). In terms of maximum drawdown, XRT dropped -65.81% vs EMTY's -77.62%.
On 5-year performance, XRT leads with 1.12% vs -3.74% for EMTY. On fees, XRT is cheaper at 0.35% per year. On volatility, XRT has been the lower-risk option at 6.29%. 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 1.12% return vs -3.74%. 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 3.41%, compared with 0.74% for XRT.
XRT is categorized as Consumer Discretionary Equities, while EMTY is Inverse Equities. XRT tracks S&P Retail Select Industry Index, 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 (0.89 vs -0.14), 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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