XSLV vs. LGLV

Last updated Jun 24, 2026

XSLV (Invesco S&P SmallCap Low Volatility ETF) and LGLV (SPDR SSGA US Large Cap Low Volatility Index ETF) are both Volatility Hedged Equity funds - XSLV tracks the S&P SmallCap 600 Low Volatility Index while LGLV tracks the SSGA US Large Cap Low Volatility (TR). Both are passively managed. Over the past 10 years, XSLV returned 6.15%/yr vs 11.29%/yr for LGLV. A 0.71 correlation means they provide meaningful diversification when combined. XSLV charges 0.25%/yr vs 0.12%/yr for LGLV.

Performance

XSLV vs. LGLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P SmallCap Low Volatility ETF (XSLV) and SPDR SSGA US Large Cap Low Volatility Index ETF (LGLV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XSLV achieves a 11.98% return, which is significantly higher than LGLV's 2.78% return. Over the past 10 years, XSLV has underperformed LGLV with an annualized return of 6.15%, while LGLV has yielded a comparatively higher 11.29% annualized return.

XSLV

• 1D: 1.45%
• 1M: 3.35%
• YTD: 11.98%
• 6M: 11.04%
• 1Y: 15.35%
• 3Y*: 12.03%
• 5Y*: 4.17%
• 10Y*: 6.15%

LGLV

• 1D: 0.86%
• 1M: -0.36%
• YTD: 2.78%
• 6M: 2.23%
• 1Y: 5.19%
• 3Y*: 11.54%
• 5Y*: 8.27%
• 10Y*: 11.29%

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

XSLV vs. LGLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XSLV Invesco S&P SmallCap Low Volatility ETF	11.98%	0.31%	9.81%	1.34%	-11.83%	29.34%	-17.40%	22.35%	-5.41%	8.57%
LGLV SPDR SSGA US Large Cap Low Volatility Index ETF	2.78%	8.37%	16.22%	9.19%	-8.17%	27.95%	7.42%	30.83%	0.32%	17.84%

Correlation

The correlation between XSLV and LGLV is 0.76, 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	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (10Y) Calculated over the trailing 10-year period	0.74
Correlation (All Time) Calculated using the full available price history since Feb 21, 2013	0.71

The correlation between XSLV and LGLV has been stable across timeframes, ranging from 0.71 to 0.78 - a consistent structural relationship.

XSLV vs. LGLV - Sectors Allocation Comparison

Sectors	XSLV	LGLV
Financial Services	43.2%	9.9%
Real Estate	28.5%	17.6%
Utilities	9.1%	11.6%
Industrials	7.2%	18.4%
Consumer Defensive	3.9%	5.8%
Basic Materials	2.7%	3.5%
Consumer Cyclical	2.3%	9.1%
Healthcare	1.5%	7.1%
Communication Services	1.1%	4.3%
Technology	0.9%	9.4%
Energy	0.8%	3.5%

Return for Risk

XSLV vs. LGLV — Risk / Return Rank

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

XSLV

XSLV Risk / Return Rank: 36
XSLV Sharpe Ratio Rank: 34
XSLV Sortino Ratio Rank: 35
XSLV Omega Ratio Rank: 31
XSLV Calmar Ratio Rank: 43
XSLV Martin Ratio Rank: 39

LGLV

LGLV Risk / Return Rank: 17
LGLV Sharpe Ratio Rank: 18
LGLV Sortino Ratio Rank: 16
LGLV Omega Ratio Rank: 15
LGLV Calmar Ratio Rank: 18
LGLV Martin Ratio Rank: 17

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.

XSLV vs. LGLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Low Volatility ETF (XSLV) and SPDR SSGA US Large Cap Low Volatility Index ETF (LGLV). 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.

	XSLV	LGLV	Difference
Sharpe ratio: Return per unit of total volatility	1.15	0.55	+0.60
Sortino ratio: Return per unit of downside risk	1.75	0.85	+0.90
Omega ratio: Gain probability vs. loss probability	1.20	1.10	+0.10
Calmar ratio: Return relative to maximum drawdown	2.07	0.76	+1.31
Martin ratio: Return relative to average drawdown	5.87	1.80	+4.08

XSLV vs. LGLV - Sharpe Ratio Comparison

The current XSLV Sharpe Ratio is 1.15, which is higher than the LGLV Sharpe Ratio of 0.55. The chart below compares the historical Sharpe Ratios of XSLV and LGLV, 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

XSLV vs. LGLV - Drawdown Comparison

The maximum XSLV drawdown since its inception was -44.34%, which is greater than LGLV's maximum drawdown of -36.64%. Use the drawdown chart below to compare losses from any high point for XSLV and LGLV.

Drawdown Indicators

	XSLV	LGLV	Difference
Max Drawdown Largest peak-to-trough decline	-44.34%	-36.64%	-7.70%
Max Drawdown (1Y) Largest decline over 1 year	-7.46%	-6.86%	-0.60%
Max Drawdown (3Y) Largest decline over 3 years	-18.35%	-10.17%	-8.18%
Max Drawdown (5Y) Largest decline over 5 years	-24.72%	-17.49%	-7.23%
Max Drawdown (10Y) Largest decline over 10 years	-44.34%	-36.64%	-7.70%
Current Drawdown Current decline from peak	0.00%	-4.79%	+4.79%
Average Drawdown Average peak-to-trough decline	-7.26%	-3.22%	-4.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.62%	2.90%	-0.28%

Volatility

XSLV vs. LGLV - Volatility Comparison

Invesco S&P SmallCap Low Volatility ETF (XSLV) has a higher volatility of 4.59% compared to SPDR SSGA US Large Cap Low Volatility Index ETF (LGLV) at 3.51%. This indicates that XSLV's price experiences larger fluctuations and is considered to be riskier than LGLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XSLV	LGLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.59%	3.51%	+1.08%
Volatility (6M) Calculated over the trailing 6-month period	9.42%	7.00%	+2.42%
Volatility (1Y) Calculated over the trailing 1-year period	13.50%	9.57%	+3.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.70%	12.94%	+3.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.94%	16.07%	+3.87%

XSLV vs. LGLV - Expense Ratio Comparison

XSLV has a 0.25% expense ratio, which is higher than LGLV's 0.12% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

XSLV vs. LGLV - Dividend Comparison

XSLV's dividend yield for the trailing twelve months is around 2.15%, more than LGLV's 2.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LGLV SPDR SSGA US Large Cap Low Volatility Index ETF	2.09%	1.94%	1.93%	2.03%	1.95%	1.65%	1.98%	1.89%	2.09%	4.39%	2.54%	2.97%
XSLV Invesco S&P SmallCap Low Volatility ETF	2.15%	2.14%	2.55%	2.35%	2.78%	1.05%	2.49%	2.43%	2.75%	1.87%	1.96%	2.20%

Frequently Asked Questions

Can I hold both XSLV and LGLV in my portfolio?

XSLV and LGLV have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XSLV or LGLV?

XSLV has higher volatility (4.59%) compared to LGLV (3.51%). In terms of maximum drawdown, XSLV dropped -44.34% vs LGLV's -36.64%.

Which ETF is better, XSLV or LGLV?

On 10-year performance, LGLV leads with 11.29% vs 6.15% for XSLV. On fees, LGLV is cheaper at 0.12% per year. On volatility, LGLV has been the lower-risk option at 3.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XSLV or LGLV?

Over the 10-year period, LGLV has performed better with a 11.29% return vs 6.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XSLV or LGLV?

LGLV is cheaper with a 0.12% expense ratio, compared with 0.25% for XSLV.

Which ETF pays a higher dividend yield, XSLV or LGLV?

XSLV has the higher dividend yield at 2.15%, compared with 2.09% for LGLV.

What is the main difference between XSLV and LGLV?

XSLV tracks S&P SmallCap 600 Low Volatility Index, while LGLV tracks SSGA US Large Cap Low Volatility (TR). They also come from different issuers: Invesco and State Street. Their fees differ too: 0.25% for XSLV and 0.12% for LGLV.

Which has better risk-adjusted returns?

XSLV currently has the higher Sharpe Ratio (1.15 vs 0.55), 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.