XSD vs. IGV

Last updated Jun 23, 2026

XSD (SPDR S&P Semiconductor ETF) and IGV (iShares Expanded Tech-Software Sector ETF) are both exchange-traded funds - XSD is a Semiconductors fund tracking the S&P Semiconductor Select Industry Index, while IGV is a Technology Equities fund tracking the S&P North American Expanded Technology Software Index. Both are passively managed. Over the past 10 years, XSD returned 31.63%/yr vs 15.70%/yr for IGV. A 0.71 correlation means they provide meaningful diversification when combined. XSD charges 0.35%/yr vs 0.39%/yr for IGV.

Performance

XSD vs. IGV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Semiconductor ETF (XSD) and iShares Expanded Tech-Software Sector ETF (IGV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XSD achieves a 101.75% return, which is significantly higher than IGV's -17.38% return. Over the past 10 years, XSD has outperformed IGV with an annualized return of 31.63%, while IGV has yielded a comparatively lower 15.70% annualized return.

XSD

• 1D: 1.91%
• 1M: 7.37%
• YTD: 101.75%
• 6M: 95.13%
• 1Y: 166.27%
• 3Y*: 46.54%
• 5Y*: 29.17%
• 10Y*: 31.63%

IGV

• 1D: -2.00%
• 1M: -7.11%
• YTD: -17.38%
• 6M: -19.85%
• 1Y: -16.92%
• 3Y*: 9.05%
• 5Y*: 2.55%
• 10Y*: 15.70%

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

XSD vs. IGV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XSD SPDR S&P Semiconductor ETF	101.75%	29.85%	10.75%	34.87%	-30.92%	42.54%	61.95%	64.66%	-6.35%	25.21%
IGV iShares Expanded Tech-Software Sector ETF	-17.38%	5.56%	23.41%	58.56%	-35.65%	12.30%	52.86%	34.33%	12.44%	42.16%

Correlation

The correlation between XSD and IGV is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (10Y) Calculated over the trailing 10-year period	0.68
Correlation (All Time) Calculated using the full available price history since Feb 6, 2006	0.71

Over the past year, the correlation between XSD and IGV has dropped to 0.35 - well below their long-term average of 0.71, suggesting their price drivers have been diverging.

XSD vs. IGV - Sectors Allocation Comparison

Sectors	XSD	IGV
Technology	98.0%	89.1%
Energy	2.0%	-
Basic Materials	-	-
Communication Services	-	8.6%
Consumer Cyclical	-	0.3%
Consumer Defensive	-	-
Financial Services	-	1.9%
Healthcare	-	-
Industrials	-	0.1%
Real Estate	-	-
Utilities	-	-

Return for Risk

XSD vs. IGV — Risk / Return Rank

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

XSD

XSD Risk / Return Rank: 94
XSD Sharpe Ratio Rank: 97
XSD Sortino Ratio Rank: 92
XSD Omega Ratio Rank: 91
XSD Calmar Ratio Rank: 96
XSD Martin Ratio Rank: 95

IGV

IGV Risk / Return Rank: 4
IGV Sharpe Ratio Rank: 4
IGV Sortino Ratio Rank: 4
IGV Omega Ratio Rank: 4
IGV Calmar Ratio Rank: 5
IGV Martin Ratio Rank: 4

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.

XSD vs. IGV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Semiconductor ETF (XSD) and iShares Expanded Tech-Software Sector ETF (IGV). 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.

	XSD	IGV	Difference
Sharpe ratio: Return per unit of total volatility	4.17	-0.60	+4.78
Sortino ratio: Return per unit of downside risk	4.18	-0.70	+4.88
Omega ratio: Gain probability vs. loss probability	1.57	0.92	+0.65
Calmar ratio: Return relative to maximum drawdown	8.99	-0.46	+9.46
Martin ratio: Return relative to average drawdown	29.69	-0.95	+30.63

XSD vs. IGV - Sharpe Ratio Comparison

The current XSD Sharpe Ratio is 4.17, which is higher than the IGV Sharpe Ratio of -0.60. The chart below compares the historical Sharpe Ratios of XSD and IGV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

XSD vs. IGV - Drawdown Comparison

The maximum XSD drawdown since its inception was -64.56%, roughly equal to the maximum IGV drawdown of -63.45%. Use the drawdown chart below to compare losses from any high point for XSD and IGV.

Drawdown Indicators

	XSD	IGV	Difference
Max Drawdown Largest peak-to-trough decline	-64.56%	-63.45%	-1.11%
Max Drawdown (1Y) Largest decline over 1 year	-18.61%	-36.61%	+18.00%
Max Drawdown (3Y) Largest decline over 3 years	-41.25%	-36.61%	-4.64%
Max Drawdown (5Y) Largest decline over 5 years	-42.27%	-45.85%	+3.58%
Max Drawdown (10Y) Largest decline over 10 years	-42.27%	-45.85%	+3.58%
Current Drawdown Current decline from peak	-0.20%	-25.86%	+25.66%
Average Drawdown Average peak-to-trough decline	-13.72%	-14.46%	+0.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.62%	17.87%	-12.25%

Volatility

XSD vs. IGV - Volatility Comparison

SPDR S&P Semiconductor ETF (XSD) has a higher volatility of 21.48% compared to iShares Expanded Tech-Software Sector ETF (IGV) at 12.72%. This indicates that XSD's price experiences larger fluctuations and is considered to be riskier than IGV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XSD	IGV	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.48%	12.72%	+8.76%
Volatility (6M) Calculated over the trailing 6-month period	32.65%	24.91%	+7.74%
Volatility (1Y) Calculated over the trailing 1-year period	40.16%	28.33%	+11.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.08%	27.97%	+11.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.42%	26.42%	+9.00%

XSD vs. IGV - Expense Ratio Comparison

XSD has a 0.35% expense ratio, which is lower than IGV's 0.39% expense ratio.

Dividends

XSD vs. IGV - Dividend Comparison

XSD's dividend yield for the trailing twelve months is around 0.16%, more than IGV's 0.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IGV iShares Expanded Tech-Software Sector ETF	0.02%	0.00%	0.00%	0.01%	0.01%	0.00%	0.35%	0.02%	0.16%	0.09%	0.82%	0.22%
XSD SPDR S&P Semiconductor ETF	0.16%	0.26%	0.20%	0.31%	0.44%	0.10%	0.26%	0.51%	1.16%	0.59%	0.64%	0.58%

Frequently Asked Questions

Can I hold both XSD and IGV in my portfolio?

XSD and IGV have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XSD or IGV?

XSD has higher volatility (21.48%) compared to IGV (12.72%). In terms of maximum drawdown, XSD dropped -64.56% vs IGV's -63.45%.

Which ETF is better, XSD or IGV?

On 10-year performance, XSD leads with 31.63% vs 15.70% for IGV. On fees, XSD is cheaper at 0.35% per year. On volatility, IGV has been the lower-risk option at 12.72%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XSD or IGV?

Over the 10-year period, XSD has performed better with a 31.63% return vs 15.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XSD or IGV?

XSD is cheaper with a 0.35% expense ratio, compared with 0.39% for IGV.

Which ETF pays a higher dividend yield, XSD or IGV?

XSD has the higher dividend yield at 0.16%, compared with 0.02% for IGV.

What is the main difference between XSD and IGV?

XSD is categorized as Semiconductors, while IGV is Technology Equities. XSD tracks S&P Semiconductor Select Industry Index, while IGV tracks S&P North American Expanded Technology Software Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.35% for XSD and 0.39% for IGV.

Which has better risk-adjusted returns?

XSD currently has the higher Sharpe Ratio (4.17 vs -0.60), 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.