XSW vs. BAMU

Last updated Jun 24, 2026

XSW (SPDR S&P Software & Services ETF) and BAMU (Brookstone Ultra-Short Bond ETF) are both exchange-traded funds - XSW is a Technology Equities fund tracking the S&P Software & Services Select Industry Index, while BAMU is a Ultrashort Bond fund actively managed by Brookstone. XSW is passively managed, while BAMU is actively managed. Over the past year, XSW returned -10.86% vs 2.87% for BAMU. At a 0.02 correlation, their price movements are largely independent. XSW charges 0.35%/yr vs 1.09%/yr for BAMU.

Performance

XSW vs. BAMU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Software & Services ETF (XSW) and Brookstone Ultra-Short Bond ETF (BAMU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XSW achieves a -13.68% return, which is significantly lower than BAMU's 1.18% return.

XSW

• 1D: 0.86%
• 1M: -2.12%
• YTD: -13.68%
• 6M: -15.49%
• 1Y: -10.86%
• 3Y*: 8.06%
• 5Y*: -1.20%
• 10Y*: 12.80%

BAMU

• 1D: 0.00%
• 1M: 0.16%
• YTD: 1.18%
• 6M: 1.29%
• 1Y: 2.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XSW vs. BAMU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
XSW SPDR S&P Software & Services ETF	-13.68%	-0.90%	25.81%	21.45%
BAMU Brookstone Ultra-Short Bond ETF	1.18%	3.21%	4.14%	1.20%

Correlation

The correlation between XSW and BAMU is -0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.10
Correlation (All Time) Calculated using the full available price history since Sep 27, 2023	0.02

The correlation between XSW and BAMU shifts across timeframes, from -0.10 (1 year) to 0.02 (all time), reflecting how their relationship changes across market environments.

Return for Risk

XSW vs. BAMU — Risk / Return Rank

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

XSW

XSW Risk / Return Rank: 6
XSW Sharpe Ratio Rank: 6
XSW Sortino Ratio Rank: 6
XSW Omega Ratio Rank: 6
XSW Calmar Ratio Rank: 6
XSW Martin Ratio Rank: 6

BAMU

BAMU Risk / Return Rank: 98
BAMU Sharpe Ratio Rank: 98
BAMU Sortino Ratio Rank: 98
BAMU Omega Ratio Rank: 98
BAMU Calmar Ratio Rank: 99
BAMU Martin Ratio Rank: 99

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. BAMU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Software & Services ETF (XSW) and Brookstone Ultra-Short Bond ETF (BAMU). 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	BAMU	Difference
Sharpe ratio: Return per unit of total volatility	-0.38	4.94	-5.32
Sortino ratio: Return per unit of downside risk	-0.34	8.71	-9.06
Omega ratio: Gain probability vs. loss probability	0.96	2.41	-1.45
Calmar ratio: Return relative to maximum drawdown	-0.32	24.37	-24.70
Martin ratio: Return relative to average drawdown	-0.67	96.52	-97.19

XSW vs. BAMU - Sharpe Ratio Comparison

The current XSW Sharpe Ratio is -0.38, which is lower than the BAMU Sharpe Ratio of 4.94. The chart below compares the historical Sharpe Ratios of XSW and BAMU, 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. BAMU - Drawdown Comparison

The maximum XSW drawdown since its inception was -45.38%, which is greater than BAMU's maximum drawdown of -0.36%. Use the drawdown chart below to compare losses from any high point for XSW and BAMU.

Drawdown Indicators

	XSW	BAMU	Difference
Max Drawdown Largest peak-to-trough decline	-45.38%	-0.36%	-45.02%
Max Drawdown (1Y) Largest decline over 1 year	-33.75%	-0.12%	-33.63%
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	-21.30%	0.00%	-21.30%
Average Drawdown Average peak-to-trough decline	-9.86%	-0.02%	-9.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.31%	0.03%	+16.28%

Volatility

XSW vs. BAMU - Volatility Comparison

SPDR S&P Software & Services ETF (XSW) has a higher volatility of 11.42% compared to Brookstone Ultra-Short Bond ETF (BAMU) at 0.09%. This indicates that XSW's price experiences larger fluctuations and is considered to be riskier than BAMU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XSW	BAMU	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.42%	0.09%	+11.33%
Volatility (6M) Calculated over the trailing 6-month period	23.81%	0.39%	+23.42%
Volatility (1Y) Calculated over the trailing 1-year period	28.83%	0.58%	+28.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.89%	0.87%	+28.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.26%	0.87%	+25.39%

XSW vs. BAMU - Expense Ratio Comparison

XSW has a 0.35% expense ratio, which is lower than BAMU's 1.09% expense ratio.

Dividends

XSW vs. BAMU - Dividend Comparison

XSW has not paid dividends to shareholders, while BAMU's dividend yield for the trailing twelve months is around 3.05%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BAMU Brookstone Ultra-Short Bond ETF	3.05%	3.20%	3.97%	0.84%	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 BAMU in my portfolio?

XSW and BAMU have a correlation of -0.10, 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 BAMU?

XSW has higher volatility (11.42%) compared to BAMU (0.09%). In terms of maximum drawdown, XSW dropped -45.38% vs BAMU's -0.36%.

Which ETF is better, XSW or BAMU?

On 1-year performance, BAMU leads with 2.87% vs -10.86% for XSW. On fees, XSW is cheaper at 0.35% per year. On volatility, BAMU has been the lower-risk option at 0.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XSW or BAMU?

Over the 1-year period, BAMU has performed better with a 2.87% return vs -10.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XSW or BAMU?

XSW is cheaper with a 0.35% expense ratio, compared with 1.09% for BAMU.

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

BAMU has the higher dividend yield at 3.05%, compared with 0.00% for XSW.

What is the main difference between XSW and BAMU?

XSW is categorized as Technology Equities, while BAMU is Ultrashort Bond. They also come from different issuers: State Street and Brookstone. Their fees differ too: 0.35% for XSW and 1.09% for BAMU.

Which has better risk-adjusted returns?

BAMU currently has the higher Sharpe Ratio (4.94 vs -0.38), 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.