XSW vs. ASMH

Last updated Jul 17, 2026

XSW (SPDR S&P Software & Services ETF) and ASMH (ASML Holding NV ADR Hedged ETF) are both Technology Equities funds - XSW tracks the S&P Software & Services Select Industry Index while ASMH tracks the ASML Holding NV Sponsored ADR. Both are passively managed. Over the past year, XSW returned -5.28% vs 143.52% for ASMH. At a 0.22 correlation, their price movements are largely independent. XSW charges 0.35%/yr vs 0.19%/yr for ASMH.

Performance

XSW vs. ASMH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Software & Services ETF (XSW) and ASML Holding NV ADR Hedged ETF (ASMH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XSW achieves a -4.36% return, which is significantly lower than ASMH's 71.44% return.

XSW

• 1D: 0.21%
• 1M: 7.23%
• 6M: -2.25%
• YTD: -4.36%
• 1Y: -5.28%
• 3Y*: 8.28%
• 5Y*: 1.74%
• 10Y*: 13.27%

ASMH

• 1D: -2.11%
• 1M: 0.25%
• 6M: 36.58%
• YTD: 71.44%
• 1Y: 143.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XSW vs. ASMH - Yearly Performance Comparison

	2026 (YTD)	2025
XSW SPDR S&P Software & Services ETF	-4.36%	24.30%
ASMH ASML Holding NV ADR Hedged ETF	71.44%	59.22%

Correlation

The correlation between XSW and ASMH is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (All Time) Calculated using the full available price history since Apr 23, 2025	0.22

Return for Risk

XSW vs. ASMH — Risk / Return Rank

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

XSW

XSW Risk / Return Rank: 8
XSW Sharpe Ratio Rank: 8
XSW Sortino Ratio Rank: 8
XSW Omega Ratio Rank: 7
XSW Calmar Ratio Rank: 8
XSW Martin Ratio Rank: 8

ASMH

ASMH Risk / Return Rank: 95
ASMH Sharpe Ratio Rank: 97
ASMH Sortino Ratio Rank: 93
ASMH Omega Ratio Rank: 89
ASMH Calmar Ratio Rank: 98
ASMH Martin Ratio Rank: 96

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.

XSW vs. ASMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Software & Services ETF (XSW) and ASML Holding NV ADR Hedged ETF (ASMH). 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.

	XSW	ASMH	Difference
Sharpe ratio: Return per unit of total volatility	-0.18	3.37	-3.55
Sortino ratio: Return per unit of downside risk	-0.06	3.73	-3.78
Omega ratio: Gain probability vs. loss probability	0.99	1.45	-0.46
Calmar ratio: Return relative to maximum drawdown	-0.16	9.79	-9.94
Martin ratio: Return relative to average drawdown	-0.32	28.17	-28.49

XSW vs. ASMH - Sharpe Ratio Comparison

The current XSW Sharpe Ratio is -0.18, which is lower than the ASMH Sharpe Ratio of 3.37. The chart below compares the historical Sharpe Ratios of XSW and ASMH, 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

XSW vs. ASMH - Drawdown Comparison

The maximum XSW drawdown since its inception was -45.38%, which is greater than ASMH's maximum drawdown of -15.89%. Use the drawdown chart below to compare losses from any high point for XSW and ASMH.

Drawdown Indicators

	XSW	ASMH	Difference
Max Drawdown Largest peak-to-trough decline	-45.38%	-15.89%	-29.49%
Max Drawdown (1Y) Largest decline over 1 year	-33.75%	-14.75%	-19.00%
Max Drawdown (3Y) Largest decline over 3 years	-33.75%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-45.38%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-45.38%	—	—
Current Drawdown Current decline from peak	-12.79%	-10.51%	-2.28%
Average Drawdown Average peak-to-trough decline	-9.89%	-4.41%	-5.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.73%	5.17%	+11.56%

Volatility

XSW vs. ASMH - Volatility Comparison

The current volatility for SPDR S&P Software & Services ETF (XSW) is 7.86%, while ASML Holding NV ADR Hedged ETF (ASMH) has a volatility of 18.11%. This indicates that XSW experiences smaller price fluctuations and is considered to be less risky than ASMH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XSW	ASMH	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.86%	18.11%	-10.25%
Volatility (6M) Calculated over the trailing 6-month period	24.48%	34.14%	-9.66%
Volatility (1Y) Calculated over the trailing 1-year period	29.07%	43.78%	-14.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.03%	41.26%	-12.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.28%	41.26%	-14.98%

XSW vs. ASMH - Expense Ratio Comparison

XSW has a 0.35% expense ratio, which is higher than ASMH's 0.19% expense ratio.

Dividends

XSW vs. ASMH - Dividend Comparison

XSW has not paid dividends to shareholders, while ASMH's dividend yield for the trailing twelve months is around 1.63%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASMH ASML Holding NV ADR Hedged ETF	1.63%	0.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XSW SPDR S&P Software & Services ETF	0.00%	0.06%	0.07%	0.20%	0.09%	0.13%	0.26%	0.12%	0.31%	0.46%	0.87%	0.54%

Frequently Asked Questions

Can I hold both XSW and ASMH in my portfolio?

XSW and ASMH have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XSW or ASMH?

ASMH has higher volatility (18.11%) compared to XSW (7.86%). In terms of maximum drawdown, XSW dropped -45.38% vs ASMH's -15.89%.

Which ETF is better, XSW or ASMH?

On 1-year performance, ASMH leads with 143.52% vs -5.28% for XSW. On fees, ASMH is cheaper at 0.19% per year. On volatility, XSW has been the lower-risk option at 7.86%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XSW or ASMH?

Over the 1-year period, ASMH has performed better with a 143.52% return vs -5.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XSW or ASMH?

ASMH is cheaper with a 0.19% expense ratio, compared with 0.35% for XSW.

Which ETF pays a higher dividend yield, XSW or ASMH?

ASMH has the higher dividend yield at 1.63%, compared with 0.00% for XSW.

What is the main difference between XSW and ASMH?

XSW tracks S&P Software & Services Select Industry Index, while ASMH tracks ASML Holding NV Sponsored ADR. They also come from different issuers: State Street and Precidian Funds. Their fees differ too: 0.35% for XSW and 0.19% for ASMH.

Which has better risk-adjusted returns?

ASMH currently has the higher Sharpe Ratio (3.37 vs -0.18), 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.