XTL vs. UFOX

Last updated Jun 13, 2026

XTL (SPDR S&P Telecom ETF) and UFOX (Defiance Connective Technologies ETF) are both exchange-traded funds - XTL is a Communications Equities fund tracking the S&P Telecom Select Industry Index, while UFOX is a Technology Equities fund tracking the BlueStar Connective Technologies Index. Both are passively managed. Over the past 5 years, XTL returned 18.76%/yr vs 21.65%/yr for UFOX. Their correlation of 0.83 suggests significant overlap in exposure. XTL charges 0.35%/yr vs 0.30%/yr for UFOX.

Performance

XTL vs. UFOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Telecom ETF (XTL) and Defiance Connective Technologies ETF (UFOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with XTL having a 51.28% return and UFOX slightly lower at 48.96%.

XTL

• 1D: 0.16%
• 1M: 1.76%
• YTD: 51.28%
• 6M: 51.62%
• 1Y: 116.17%
• 3Y*: 46.01%
• 5Y*: 18.76%
• 10Y*: 16.27%

UFOX

• 1D: -1.41%
• 1M: 2.33%
• YTD: 48.96%
• 6M: 46.16%
• 1Y: 93.99%
• 3Y*: 42.93%
• 5Y*: 21.65%
• 10Y*: —

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

XTL vs. UFOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
XTL SPDR S&P Telecom ETF	51.28%	44.95%	34.89%	-1.17%	-19.18%	21.58%	22.46%	-2.01%
UFOX Defiance Connective Technologies ETF	48.96%	34.83%	34.11%	21.83%	-27.26%	25.68%	29.78%	5.58%

Correlation

The correlation between XTL and UFOX is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (All Time) Calculated using the full available price history since Mar 5, 2019	0.83

The correlation between XTL and UFOX has been stable across timeframes, ranging from 0.77 to 0.86 - a consistent structural relationship.

XTL vs. UFOX - Sectors Allocation Comparison

Sectors	XTL	UFOX
Technology	61.4%	77.8%
Communication Services	36.1%	5.0%
Real Estate	2.6%	3.2%
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	13.9%
Utilities	-	-

Return for Risk

XTL vs. UFOX — Risk / Return Rank

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

XTL

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

UFOX

UFOX Risk / Return Rank: 94
UFOX Sharpe Ratio Rank: 95
UFOX Sortino Ratio Rank: 92
UFOX Omega Ratio Rank: 91
UFOX Calmar Ratio Rank: 95
UFOX 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.

XTL vs. UFOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Telecom ETF (XTL) and Defiance Connective Technologies ETF (UFOX). 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.

	XTL	UFOX	Difference
Sharpe ratio: Return per unit of total volatility	3.88	3.40	+0.47
Sortino ratio: Return per unit of downside risk	4.26	3.94	+0.32
Omega ratio: Gain probability vs. loss probability	1.56	1.53	+0.03
Calmar ratio: Return relative to maximum drawdown	7.95	6.68	+1.27
Martin ratio: Return relative to average drawdown	33.56	28.71	+4.85

XTL vs. UFOX - Sharpe Ratio Comparison

The current XTL Sharpe Ratio is 3.88, which is comparable to the UFOX Sharpe Ratio of 3.40. The chart below compares the historical Sharpe Ratios of XTL and UFOX, 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

XTL vs. UFOX - Drawdown Comparison

The maximum XTL drawdown since its inception was -37.01%, which is greater than UFOX's maximum drawdown of -33.90%. Use the drawdown chart below to compare losses from any high point for XTL and UFOX.

Drawdown Indicators

	XTL	UFOX	Difference
Max Drawdown Largest peak-to-trough decline	-37.01%	-33.90%	-3.11%
Max Drawdown (1Y) Largest decline over 1 year	-14.70%	-14.14%	-0.56%
Max Drawdown (3Y) Largest decline over 3 years	-22.79%	-28.14%	+5.35%
Max Drawdown (5Y) Largest decline over 5 years	-37.01%	-33.90%	-3.11%
Max Drawdown (10Y) Largest decline over 10 years	-37.01%	—	—
Current Drawdown Current decline from peak	-6.72%	-10.69%	+3.97%
Average Drawdown Average peak-to-trough decline	-9.76%	-9.02%	-0.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.48%	3.29%	+0.19%

Volatility

XTL vs. UFOX - Volatility Comparison

The current volatility for SPDR S&P Telecom ETF (XTL) is 11.43%, while Defiance Connective Technologies ETF (UFOX) has a volatility of 13.40%. This indicates that XTL experiences smaller price fluctuations and is considered to be less risky than UFOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XTL	UFOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.43%	13.40%	-1.97%
Volatility (6M) Calculated over the trailing 6-month period	24.28%	23.05%	+1.23%
Volatility (1Y) Calculated over the trailing 1-year period	30.13%	27.78%	+2.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.34%	25.05%	+0.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.66%	25.48%	-1.82%

XTL vs. UFOX - Expense Ratio Comparison

XTL has a 0.35% expense ratio, which is higher than UFOX's 0.30% expense ratio.

Dividends

XTL vs. UFOX - Dividend Comparison

XTL's dividend yield for the trailing twelve months is around 0.86%, more than UFOX's 0.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
UFOX Defiance Connective Technologies ETF	0.39%	0.56%	0.79%	1.40%	1.63%	1.17%	0.99%	0.75%	0.00%	0.00%	0.00%	0.00%
XTL SPDR S&P Telecom ETF	0.86%	1.05%	0.62%	0.80%	0.74%	1.25%	0.88%	0.92%	1.90%	2.08%	1.11%	1.38%

Frequently Asked Questions

Can I hold both XTL and UFOX in my portfolio?

XTL and UFOX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XTL or UFOX?

UFOX has higher volatility (13.40%) compared to XTL (11.43%). In terms of maximum drawdown, XTL dropped -37.01% vs UFOX's -33.90%.

Which ETF is better, XTL or UFOX?

On 5-year performance, UFOX leads with 21.65% vs 18.76% for XTL. On fees, UFOX is cheaper at 0.30% per year. On volatility, XTL has been the lower-risk option at 11.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XTL or UFOX?

Over the 5-year period, UFOX has performed better with a 21.65% return vs 18.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XTL or UFOX?

UFOX is cheaper with a 0.30% expense ratio, compared with 0.35% for XTL.

Which ETF pays a higher dividend yield, XTL or UFOX?

XTL has the higher dividend yield at 0.86%, compared with 0.39% for UFOX.

What is the main difference between XTL and UFOX?

XTL is categorized as Communications Equities, while UFOX is Technology Equities. XTL tracks S&P Telecom Select Industry Index, while UFOX tracks BlueStar Connective Technologies Index. They also come from different issuers: State Street and Defiance. Their fees differ too: 0.35% for XTL and 0.30% for UFOX.

Which has better risk-adjusted returns?

XTL currently has the higher Sharpe Ratio (3.88 vs 3.40), 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.