XTL vs. VLUE

Last updated Jun 13, 2026

XTL (SPDR S&P Telecom ETF) and VLUE (iShares MSCI USA Value Factor ETF) are both exchange-traded funds - XTL is a Communications Equities fund tracking the S&P Telecom Select Industry Index, while VLUE is a Large Cap Value Equities fund tracking the MSCI USA Enhanced Value Index. Both are passively managed. Over the past 10 years, XTL returned 16.27%/yr vs 15.38%/yr for VLUE. A 0.71 correlation means they provide meaningful diversification when combined. XTL charges 0.35%/yr vs 0.15%/yr for VLUE.

Performance

XTL vs. VLUE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Telecom ETF (XTL) and iShares MSCI USA Value Factor ETF (VLUE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XTL achieves a 51.28% return, which is significantly higher than VLUE's 45.72% return. Over the past 10 years, XTL has outperformed VLUE with an annualized return of 16.27%, while VLUE has yielded a comparatively lower 15.38% annualized return.

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%

VLUE

• 1D: 0.40%
• 1M: 7.90%
• YTD: 45.72%
• 6M: 46.53%
• 1Y: 83.16%
• 3Y*: 31.47%
• 5Y*: 16.01%
• 10Y*: 15.38%

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

XTL vs. VLUE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XTL SPDR S&P Telecom ETF	51.28%	44.95%	34.89%	-1.17%	-19.18%	21.58%	22.46%	12.51%	-6.60%	0.56%
VLUE iShares MSCI USA Value Factor ETF	45.72%	32.67%	7.25%	14.26%	-14.17%	28.93%	-0.23%	27.20%	-11.13%	21.95%

Correlation

The correlation between XTL and VLUE is 0.65, 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	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since Apr 18, 2013	0.71

The correlation between XTL and VLUE has been stable across timeframes, ranging from 0.65 to 0.74 - a consistent structural relationship.

XTL vs. VLUE - Sectors Allocation Comparison

Sectors	XTL	VLUE
Technology	61.4%	44.5%
Communication Services	36.1%	8.3%
Real Estate	2.6%	1.8%
Basic Materials	-	1.6%
Consumer Cyclical	-	8.3%
Consumer Defensive	-	4.0%
Energy	-	3.2%
Financial Services	-	10.4%
Healthcare	-	8.5%
Industrials	-	7.4%
Utilities	-	2.0%

Return for Risk

XTL vs. VLUE — 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

VLUE

VLUE Risk / Return Rank: 97
VLUE Sharpe Ratio Rank: 98
VLUE Sortino Ratio Rank: 97
VLUE Omega Ratio Rank: 96
VLUE Calmar Ratio Rank: 97
VLUE Martin Ratio Rank: 97

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. VLUE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Telecom ETF (XTL) and iShares MSCI USA Value Factor ETF (VLUE). 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	VLUE	Difference
Sharpe ratio: Return per unit of total volatility	3.88	4.55	-0.67
Sortino ratio: Return per unit of downside risk	4.26	5.75	-1.49
Omega ratio: Gain probability vs. loss probability	1.56	1.77	-0.21
Calmar ratio: Return relative to maximum drawdown	7.95	9.25	-1.30
Martin ratio: Return relative to average drawdown	33.56	39.16	-5.60

XTL vs. VLUE - Sharpe Ratio Comparison

The current XTL Sharpe Ratio is 3.88, which is comparable to the VLUE Sharpe Ratio of 4.55. The chart below compares the historical Sharpe Ratios of XTL and VLUE, 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. VLUE - Drawdown Comparison

The maximum XTL drawdown since its inception was -37.01%, smaller than the maximum VLUE drawdown of -39.47%. Use the drawdown chart below to compare losses from any high point for XTL and VLUE.

Drawdown Indicators

	XTL	VLUE	Difference
Max Drawdown Largest peak-to-trough decline	-37.01%	-39.47%	+2.46%
Max Drawdown (1Y) Largest decline over 1 year	-14.70%	-9.04%	-5.66%
Max Drawdown (3Y) Largest decline over 3 years	-22.79%	-17.89%	-4.90%
Max Drawdown (5Y) Largest decline over 5 years	-37.01%	-27.12%	-9.89%
Max Drawdown (10Y) Largest decline over 10 years	-37.01%	-39.47%	+2.46%
Current Drawdown Current decline from peak	-6.72%	-2.61%	-4.11%
Average Drawdown Average peak-to-trough decline	-9.76%	-6.01%	-3.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.48%	2.13%	+1.35%

Volatility

XTL vs. VLUE - Volatility Comparison

SPDR S&P Telecom ETF (XTL) has a higher volatility of 11.43% compared to iShares MSCI USA Value Factor ETF (VLUE) at 8.83%. This indicates that XTL's price experiences larger fluctuations and is considered to be riskier than VLUE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XTL	VLUE	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.43%	8.83%	+2.60%
Volatility (6M) Calculated over the trailing 6-month period	24.28%	15.31%	+8.97%
Volatility (1Y) Calculated over the trailing 1-year period	30.13%	18.38%	+11.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.34%	18.00%	+7.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.66%	19.91%	+3.75%

XTL vs. VLUE - Expense Ratio Comparison

XTL has a 0.35% expense ratio, which is higher than VLUE's 0.15% expense ratio.

Dividends

XTL vs. VLUE - Dividend Comparison

XTL's dividend yield for the trailing twelve months is around 0.86%, less than VLUE's 1.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VLUE iShares MSCI USA Value Factor ETF	1.43%	2.11%	2.73%	2.66%	3.18%	2.22%	2.42%	2.61%	2.70%	2.14%	2.07%	2.39%
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 VLUE in my portfolio?

XTL and VLUE have a correlation of 0.65, 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 VLUE?

XTL has higher volatility (11.43%) compared to VLUE (8.83%). In terms of maximum drawdown, XTL dropped -37.01% vs VLUE's -39.47%.

Which ETF is better, XTL or VLUE?

On 10-year performance, XTL leads with 16.27% vs 15.38% for VLUE. On fees, VLUE is cheaper at 0.15% per year. On volatility, VLUE has been the lower-risk option at 8.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XTL or VLUE?

Over the 10-year period, XTL has performed better with a 16.27% return vs 15.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XTL or VLUE?

VLUE is cheaper with a 0.15% expense ratio, compared with 0.35% for XTL.

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

VLUE has the higher dividend yield at 1.43%, compared with 0.86% for XTL.

What is the main difference between XTL and VLUE?

XTL is categorized as Communications Equities, while VLUE is Large Cap Value Equities. XTL tracks S&P Telecom Select Industry Index, while VLUE tracks MSCI USA Enhanced Value Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.35% for XTL and 0.15% for VLUE.

Which has better risk-adjusted returns?

VLUE currently has the higher Sharpe Ratio (4.55 vs 3.88), 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.