XSD vs. XLU

Last updated Jun 4, 2026

XSD (SPDR S&P Semiconductor ETF) and XLU (State Street Utilities Select Sector SPDR ETF) are both exchange-traded funds - XSD is a Semiconductors fund tracking the S&P Semiconductor Select Industry, while XLU is a Utilities Equities fund tracking the Utilities Select Sector Index. Both are passively managed. Over the past 10 years, XSD returned 31.10%/yr vs 9.15%/yr for XLU. At a 0.26 correlation, their price movements are largely independent. XSD charges 0.35%/yr vs 0.08%/yr for XLU.

Performance

XSD vs. XLU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Semiconductor ETF (XSD) and State Street Utilities Select Sector SPDR ETF (XLU). 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 XLU's 3.11% return. Over the past 10 years, XSD has outperformed XLU with an annualized return of 31.10%, while XLU has yielded a comparatively lower 9.15% 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%

XLU

• 1D: -0.43%
• 1M: -5.74%
• YTD: 3.11%
• 6M: 1.25%
• 1Y: 9.11%
• 3Y*: 13.74%
• 5Y*: 9.25%
• 10Y*: 9.15%

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

XSD vs. XLU - 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%
XLU State Street Utilities Select Sector SPDR ETF	3.11%	16.03%	23.31%	-7.18%	1.44%	17.70%	0.51%	25.93%	3.94%	12.05%

Correlation

The correlation between XSD and XLU is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (5Y) Calculated over the trailing 5-year period	0.17
Correlation (10Y) Calculated over the trailing 10-year period	0.15
Correlation (All Time) Calculated using the full available price history since Feb 7, 2006	0.26

The correlation between XSD and XLU shifts across timeframes, from 0.14 (1 year) to 0.26 (all time), reflecting how their relationship changes across market environments.

XSD vs. XLU - Sectors Allocation Comparison

Sectors	XSD	XLU
Technology	97.8%	-
Energy	2.2%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	100.0%

Return for Risk

XSD vs. XLU — 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

XLU

XLU Risk / Return Rank: 19
XLU Sharpe Ratio Rank: 19
XLU Sortino Ratio Rank: 18
XLU Omega Ratio Rank: 18
XLU Calmar Ratio Rank: 22
XLU Martin Ratio Rank: 19

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. XLU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Semiconductor ETF (XSD) and State Street Utilities Select Sector SPDR ETF (XLU). 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	XLU	Difference
Sharpe ratio: Return per unit of total volatility	5.00	0.63	+4.38
Sortino ratio: Return per unit of downside risk	5.03	0.94	+4.08
Omega ratio: Gain probability vs. loss probability	1.65	1.12	+0.53
Calmar ratio: Return relative to maximum drawdown	9.75	1.00	+8.75
Martin ratio: Return relative to average drawdown	33.91	2.24	+31.67
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. XLU - Sharpe Ratio Comparison

The current XSD Sharpe Ratio is 5.00, which is higher than the XLU Sharpe Ratio of 0.63. The chart below compares the historical Sharpe Ratios of XSD and XLU, 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	XLU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.00	0.63	+4.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.78	0.54	+0.24
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.89	0.48	+0.42
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.40	+0.04

Drawdowns

XSD vs. XLU - Drawdown Comparison

The maximum XSD drawdown since its inception was -64.56%, which is greater than XLU's maximum drawdown of -51.98%. Use the drawdown chart below to compare losses from any high point for XSD and XLU.

Drawdown Indicators

	XSD	XLU	Difference
Max Drawdown Largest peak-to-trough decline	-64.56%	-51.98%	-12.58%
Max Drawdown (1Y) Largest decline over 1 year	-18.61%	-9.18%	-9.43%
Max Drawdown (3Y) Largest decline over 3 years	-41.25%	-17.26%	-23.99%
Max Drawdown (5Y) Largest decline over 5 years	-42.27%	-25.26%	-17.01%
Max Drawdown (10Y) Largest decline over 10 years	-42.27%	-36.07%	-6.20%
Current Drawdown Current decline from peak	0.00%	-7.78%	+7.78%
Average Drawdown Average peak-to-trough decline	-13.74%	-10.22%	-3.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.34%	4.09%	+1.25%

Volatility

XSD vs. XLU - Volatility Comparison

SPDR S&P Semiconductor ETF (XSD) has a higher volatility of 14.94% compared to State Street Utilities Select Sector SPDR ETF (XLU) at 5.41%. This indicates that XSD's price experiences larger fluctuations and is considered to be riskier than XLU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XSD	XLU	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.94%	5.41%	+9.53%
Volatility (6M) Calculated over the trailing 6-month period	27.89%	11.53%	+16.36%
Volatility (1Y) Calculated over the trailing 1-year period	36.39%	14.57%	+21.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.25%	17.32%	+20.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.96%	19.26%	+15.70%

XSD vs. XLU - Expense Ratio Comparison

XSD has a 0.35% expense ratio, which is higher than XLU's 0.08% expense ratio.

Dividends

XSD vs. XLU - Dividend Comparison

XSD's dividend yield for the trailing twelve months is around 0.12%, less than XLU's 2.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
XLU State Street Utilities Select Sector SPDR ETF	2.72%	2.71%	2.96%	3.39%	2.92%	2.79%	3.14%	2.95%	3.33%	3.33%	3.41%	3.67%
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 XLU in my portfolio?

XSD and XLU have a correlation of 0.14, 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 XLU?

XSD has higher volatility (14.94%) compared to XLU (5.41%). In terms of maximum drawdown, XSD dropped -64.56% vs XLU's -51.98%.

Which ETF is better, XSD or XLU?

On 10-year performance, XSD leads with 31.10% vs 9.15% for XLU. On fees, XLU is cheaper at 0.08% per year. On volatility, XLU has been the lower-risk option at 5.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XSD or XLU?

Over the 10-year period, XSD has performed better with a 31.10% return vs 9.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XSD or XLU?

XLU is cheaper with a 0.08% expense ratio, compared with 0.35% for XSD.

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

XLU has the higher dividend yield at 2.72%, compared with 0.12% for XSD.

What is the main difference between XSD and XLU?

XSD is categorized as Semiconductors, while XLU is Utilities Equities. XSD tracks S&P Semiconductor Select Industry, while XLU tracks Utilities Select Sector Index. Their fees differ too: 0.35% for XSD and 0.08% for XLU.

Which has better risk-adjusted returns?

XSD currently has the higher Sharpe Ratio (5.00 vs 0.63), 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.