XTL vs. XME

Last updated Jun 14, 2026

XTL (SPDR S&P Telecom ETF) and XME (SPDR S&P Metals & Mining ETF) are both exchange-traded funds - XTL is a Communications Equities fund tracking the S&P Telecom Select Industry Index, while XME is a Materials fund tracking the S&P Metals & Mining Select Industry Index. Both are passively managed. Over the past 10 years, XTL returned 16.27%/yr vs 19.60%/yr for XME. A 0.55 correlation means they provide meaningful diversification when combined. Both charge a 0.35% expense ratio.

Performance

XTL vs. XME - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Telecom ETF (XTL) and SPDR S&P Metals & Mining ETF (XME). 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 XME's 16.32% return. Over the past 10 years, XTL has underperformed XME with an annualized return of 16.27%, while XME has yielded a comparatively higher 19.60% annualized return.

XTL

• 1D: 0.16%
• 1M: -0.34%
• YTD: 51.28%
• 6M: 51.62%
• 1Y: 120.42%
• 3Y*: 46.01%
• 5Y*: 18.76%
• 10Y*: 16.27%

XME

• 1D: 1.77%
• 1M: -0.44%
• YTD: 16.32%
• 6M: 18.13%
• 1Y: 85.07%
• 3Y*: 35.23%
• 5Y*: 21.78%
• 10Y*: 19.60%

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

XTL vs. XME - 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%
XME SPDR S&P Metals & Mining ETF	16.32%	83.47%	-4.54%	21.51%	13.13%	34.92%	15.95%	14.69%	-26.78%	21.17%

Correlation

The correlation between XTL and XME is 0.59, 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	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (10Y) Calculated over the trailing 10-year period	0.58
Correlation (All Time) Calculated using the full available price history since Jan 27, 2011	0.55

The correlation between XTL and XME has been stable across timeframes, ranging from 0.55 to 0.59 - a consistent structural relationship.

XTL vs. XME - Sectors Allocation Comparison

Sectors	XTL	XME
Technology	62.7%	2.2%
Communication Services	35.0%	-
Real Estate	2.3%	-
Basic Materials	-	74.9%
Consumer Cyclical	-	-
Consumer Defensive	-	0.8%
Energy	-	23.8%
Financial Services	-	-
Healthcare	-	-
Industrials	-	0.4%
Utilities	-	-

Return for Risk

XTL vs. XME — 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

XME

XME Risk / Return Rank: 75
XME Sharpe Ratio Rank: 86
XME Sortino Ratio Rank: 74
XME Omega Ratio Rank: 73
XME Calmar Ratio Rank: 82
XME Martin Ratio Rank: 61

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. XME - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Telecom ETF (XTL) and SPDR S&P Metals & Mining ETF (XME). 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	XME	Difference
Sharpe ratio: Return per unit of total volatility	3.88	2.41	+1.47
Sortino ratio: Return per unit of downside risk	4.26	2.86	+1.40
Omega ratio: Gain probability vs. loss probability	1.56	1.37	+0.19
Calmar ratio: Return relative to maximum drawdown	7.95	3.84	+4.10
Martin ratio: Return relative to average drawdown	33.56	9.58	+23.98

XTL vs. XME - Sharpe Ratio Comparison

The current XTL Sharpe Ratio is 3.88, which is higher than the XME Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of XTL and XME, 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. XME - Drawdown Comparison

The maximum XTL drawdown since its inception was -37.01%, smaller than the maximum XME drawdown of -85.89%. Use the drawdown chart below to compare losses from any high point for XTL and XME.

Drawdown Indicators

	XTL	XME	Difference
Max Drawdown Largest peak-to-trough decline	-37.01%	-85.89%	+48.88%
Max Drawdown (1Y) Largest decline over 1 year	-14.70%	-22.60%	+7.90%
Max Drawdown (3Y) Largest decline over 3 years	-22.79%	-30.47%	+7.68%
Max Drawdown (5Y) Largest decline over 5 years	-37.01%	-37.27%	+0.26%
Max Drawdown (10Y) Largest decline over 10 years	-37.01%	-61.69%	+24.68%
Current Drawdown Current decline from peak	-6.72%	-9.33%	+2.61%
Average Drawdown Average peak-to-trough decline	-9.76%	-44.09%	+34.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.48%	9.05%	-5.57%

Volatility

XTL vs. XME - Volatility Comparison

The current volatility for SPDR S&P Telecom ETF (XTL) is 11.43%, while SPDR S&P Metals & Mining ETF (XME) has a volatility of 15.26%. This indicates that XTL experiences smaller price fluctuations and is considered to be less risky than XME based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XTL	XME	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.43%	15.26%	-3.83%
Volatility (6M) Calculated over the trailing 6-month period	24.28%	28.51%	-4.23%
Volatility (1Y) Calculated over the trailing 1-year period	30.13%	36.11%	-5.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.34%	32.84%	-7.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.66%	32.96%	-9.30%

XTL vs. XME - Expense Ratio Comparison

Both XTL and XME have an expense ratio of 0.35%.

Dividends

XTL vs. XME - Dividend Comparison

XTL's dividend yield for the trailing twelve months is around 0.86%, more than XME's 0.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
XME SPDR S&P Metals & Mining ETF	0.32%	0.38%	0.65%	1.00%	1.64%	0.70%	0.99%	2.43%	2.23%	1.15%	1.02%	2.61%
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 XME in my portfolio?

XTL and XME have a correlation of 0.59, 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 XME?

XME has higher volatility (15.26%) compared to XTL (11.43%). In terms of maximum drawdown, XTL dropped -37.01% vs XME's -85.89%.

Which ETF is better, XTL or XME?

On 10-year performance, XME leads with 19.60% vs 16.27% for XTL. Both ETFs have the same 0.35% expense ratio. 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 XME?

Over the 10-year period, XME has performed better with a 19.60% return vs 16.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XTL or XME?

XTL and XME have the same expense ratio: 0.35% per year.

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

XTL has the higher dividend yield at 0.86%, compared with 0.32% for XME.

What is the main difference between XTL and XME?

XTL is categorized as Communications Equities, while XME is Materials. XTL tracks S&P Telecom Select Industry Index, while XME tracks S&P Metals & Mining Select Industry Index.

Which has better risk-adjusted returns?

XTL currently has the higher Sharpe Ratio (3.88 vs 2.41), 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.