XSD vs. SPYG

Last updated Jun 4, 2026

XSD (SPDR S&P Semiconductor ETF) and SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) are both exchange-traded funds - XSD is a Semiconductors fund tracking the S&P Semiconductor Select Industry, while SPYG is a S&P 500 fund tracking the S&P 500 Growth Index. Both are passively managed. Over the past 10 years, XSD returned 31.10%/yr vs 18.20%/yr for SPYG. A 0.76 correlation means they provide meaningful diversification when combined. XSD charges 0.35%/yr vs 0.04%/yr for SPYG.

Performance

XSD vs. SPYG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Semiconductor ETF (XSD) and State Street SPDR Portfolio S&P 500 Growth ETF (SPYG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XSD achieves a 102.14% return, which is significantly higher than SPYG's 13.75% return. Over the past 10 years, XSD has outperformed SPYG with an annualized return of 31.10%, while SPYG has yielded a comparatively lower 18.20% annualized return.

XSD

• 1D: 1.51%
• 1M: 30.91%
• YTD: 102.14%
• 6M: 92.84%
• 1Y: 180.25%
• 3Y*: 46.41%
• 5Y*: 29.69%
• 10Y*: 31.10%

SPYG

• 1D: -0.98%
• 1M: 7.38%
• YTD: 13.75%
• 6M: 13.57%
• 1Y: 33.95%
• 3Y*: 28.16%
• 5Y*: 16.07%
• 10Y*: 18.20%

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

XSD vs. SPYG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XSD SPDR S&P Semiconductor ETF	102.14%	29.85%	10.75%	34.87%	-30.92%	42.54%	61.95%	64.66%	-6.35%	25.21%
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	13.75%	22.09%	35.99%	30.02%	-29.41%	32.01%	33.46%	30.84%	-0.12%	27.24%

Correlation

The correlation between XSD and SPYG is 0.65, 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	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (10Y) Calculated over the trailing 10-year period	0.76
Correlation (All Time) Calculated using the full available price history since Feb 7, 2006	0.76

The correlation between XSD and SPYG shifts across timeframes, from 0.65 (1 year) to 0.78 (5 years), reflecting how their relationship changes across market environments.

XSD vs. SPYG - Sectors Allocation Comparison

Sectors	XSD	SPYG
Technology	97.8%	51.9%
Energy	2.2%	0.1%
Basic Materials	-	0.3%
Communication Services	-	16.8%
Consumer Cyclical	-	8.9%
Consumer Defensive	-	1.0%
Financial Services	-	8.5%
Healthcare	-	5.8%
Industrials	-	5.0%
Real Estate	-	0.6%
Utilities	-	1.2%

Return for Risk

XSD vs. SPYG — Risk / Return Rank

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

XSD

XSD Risk / Return Rank: 95
XSD Sharpe Ratio Rank: 97
XSD Sortino Ratio Rank: 94
XSD Omega Ratio Rank: 93
XSD Calmar Ratio Rank: 96
XSD Martin Ratio Rank: 96

SPYG

SPYG Risk / Return Rank: 57
SPYG Sharpe Ratio Rank: 62
SPYG Sortino Ratio Rank: 60
SPYG Omega Ratio Rank: 59
SPYG Calmar Ratio Rank: 49
SPYG Martin Ratio Rank: 57

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. SPYG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Semiconductor ETF (XSD) and State Street SPDR Portfolio S&P 500 Growth ETF (SPYG). 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.

	XSD	SPYG	Difference
Sharpe ratio: Return per unit of total volatility	5.00	2.12	+2.88
Sortino ratio: Return per unit of downside risk	5.03	2.90	+2.13
Omega ratio: Gain probability vs. loss probability	1.65	1.37	+0.28
Calmar ratio: Return relative to maximum drawdown	9.75	2.48	+7.27
Martin ratio: Return relative to average drawdown	33.91	10.25	+23.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XSD vs. SPYG - Sharpe Ratio Comparison

The current XSD Sharpe Ratio is 5.00, which is higher than the SPYG Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of XSD and SPYG, 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

	XSD	SPYG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.00	2.12	+2.88
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.78	0.76	+0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.89	0.88	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.35	+0.08

Drawdowns

XSD vs. SPYG - Drawdown Comparison

The maximum XSD drawdown since its inception was -64.56%, roughly equal to the maximum SPYG drawdown of -67.63%. Use the drawdown chart below to compare losses from any high point for XSD and SPYG.

Drawdown Indicators

	XSD	SPYG	Difference
Max Drawdown Largest peak-to-trough decline	-64.56%	-67.63%	+3.07%
Max Drawdown (1Y) Largest decline over 1 year	-18.61%	-13.76%	-4.85%
Max Drawdown (3Y) Largest decline over 3 years	-41.25%	-22.14%	-19.11%
Max Drawdown (5Y) Largest decline over 5 years	-42.27%	-32.67%	-9.60%
Max Drawdown (10Y) Largest decline over 10 years	-42.27%	-32.67%	-9.60%
Current Drawdown Current decline from peak	0.00%	-1.13%	+1.13%
Average Drawdown Average peak-to-trough decline	-13.74%	-24.33%	+10.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.34%	3.32%	+2.02%

Volatility

XSD vs. SPYG - Volatility Comparison

SPDR S&P Semiconductor ETF (XSD) has a higher volatility of 14.94% compared to State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) at 4.35%. This indicates that XSD's price experiences larger fluctuations and is considered to be riskier than SPYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XSD	SPYG	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.94%	4.35%	+10.59%
Volatility (6M) Calculated over the trailing 6-month period	27.89%	12.46%	+15.43%
Volatility (1Y) Calculated over the trailing 1-year period	36.39%	16.06%	+20.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.25%	21.17%	+17.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.96%	20.64%	+14.32%

XSD vs. SPYG - Expense Ratio Comparison

XSD has a 0.35% expense ratio, which is higher than SPYG's 0.04% expense ratio.

Dividends

XSD vs. SPYG - Dividend Comparison

XSD's dividend yield for the trailing twelve months is around 0.12%, less than SPYG's 0.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	0.47%	0.52%	0.60%	1.15%	1.03%	0.62%	0.90%	1.37%	1.51%	1.41%	1.55%	1.57%
XSD SPDR S&P Semiconductor ETF	0.12%	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 SPYG in my portfolio?

XSD and SPYG have a correlation of 0.65, 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 SPYG?

XSD has higher volatility (14.94%) compared to SPYG (4.35%). In terms of maximum drawdown, XSD dropped -64.56% vs SPYG's -67.63%.

Which ETF is better, XSD or SPYG?

On 10-year performance, XSD leads with 31.10% vs 18.20% for SPYG. On fees, SPYG is cheaper at 0.04% per year. On volatility, SPYG has been the lower-risk option at 4.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XSD or SPYG?

Over the 10-year period, XSD has performed better with a 31.10% return vs 18.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XSD or SPYG?

SPYG is cheaper with a 0.04% expense ratio, compared with 0.35% for XSD.

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

SPYG has the higher dividend yield at 0.47%, compared with 0.12% for XSD.

What is the main difference between XSD and SPYG?

XSD is categorized as Semiconductors, while SPYG is S&P 500. XSD tracks S&P Semiconductor Select Industry, while SPYG tracks S&P 500 Growth Index. Their fees differ too: 0.35% for XSD and 0.04% for SPYG.

Which has better risk-adjusted returns?

XSD currently has the higher Sharpe Ratio (5.00 vs 2.12), 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.