XTN vs. CARZ

Last updated Jun 24, 2026

XTN (SPDR S&P Transportation ETF) and CARZ (First Trust NASDAQ Global Auto Index Fund) are both exchange-traded funds - XTN is a Transportation Equities fund tracking the S&P Transportation Select Industry Index, while CARZ is a Consumer Discretionary Equities fund tracking the NASDAQ OMX Global Automobile (TR). Both are passively managed. Over the past 10 years, XTN returned 11.36%/yr vs 16.27%/yr for CARZ. A 0.59 correlation means they provide meaningful diversification when combined. XTN charges 0.35%/yr vs 0.70%/yr for CARZ.

Performance

XTN vs. CARZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Transportation ETF (XTN) and First Trust NASDAQ Global Auto Index Fund (CARZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XTN achieves a 24.64% return, which is significantly lower than CARZ's 45.91% return. Over the past 10 years, XTN has underperformed CARZ with an annualized return of 11.36%, while CARZ has yielded a comparatively higher 16.27% annualized return.

XTN

• 1D: -0.31%
• 1M: 6.93%
• YTD: 24.64%
• 6M: 22.47%
• 1Y: 45.99%
• 3Y*: 14.09%
• 5Y*: 6.44%
• 10Y*: 11.36%

CARZ

• 1D: -6.26%
• 1M: -0.36%
• YTD: 45.91%
• 6M: 45.04%
• 1Y: 96.22%
• 3Y*: 30.25%
• 5Y*: 14.87%
• 10Y*: 16.27%

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

XTN vs. CARZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XTN SPDR S&P Transportation ETF	24.64%	6.33%	4.86%	25.22%	-28.10%	33.68%	12.11%	21.85%	-17.26%	21.55%
CARZ First Trust NASDAQ Global Auto Index Fund	45.91%	37.18%	3.26%	42.47%	-31.25%	18.09%	54.66%	11.39%	-23.91%	25.47%

Correlation

The correlation between XTN and CARZ is 0.51, 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	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (5Y) Calculated over the trailing 5-year period	0.64
Correlation (10Y) Calculated over the trailing 10-year period	0.61
Correlation (All Time) Calculated using the full available price history since May 10, 2011	0.59

The correlation between XTN and CARZ shifts across timeframes, from 0.51 (1 year) to 0.64 (5 years), reflecting how their relationship changes across market environments.

XTN vs. CARZ - Sectors Allocation Comparison

Sectors	XTN	CARZ
Industrials	95.7%	7.5%
Technology	4.3%	34.6%
Basic Materials	-	6.5%
Communication Services	-	1.9%
Consumer Cyclical	-	21.5%
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

XTN vs. CARZ — Risk / Return Rank

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

XTN

XTN Risk / Return Rank: 50
XTN Sharpe Ratio Rank: 50
XTN Sortino Ratio Rank: 48
XTN Omega Ratio Rank: 46
XTN Calmar Ratio Rank: 58
XTN Martin Ratio Rank: 46

CARZ

CARZ Risk / Return Rank: 92
CARZ Sharpe Ratio Rank: 94
CARZ Sortino Ratio Rank: 88
CARZ Omega Ratio Rank: 89
CARZ Calmar Ratio Rank: 94
CARZ Martin Ratio Rank: 94

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.

XTN vs. CARZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Transportation ETF (XTN) and First Trust NASDAQ Global Auto Index Fund (CARZ). 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.

	XTN	CARZ	Difference
Sharpe ratio: Return per unit of total volatility	1.63	3.29	-1.65
Sortino ratio: Return per unit of downside risk	2.25	3.72	-1.47
Omega ratio: Gain probability vs. loss probability	1.28	1.53	-0.25
Calmar ratio: Return relative to maximum drawdown	2.67	6.70	-4.02
Martin ratio: Return relative to average drawdown	7.36	24.83	-17.47

XTN vs. CARZ - Sharpe Ratio Comparison

The current XTN Sharpe Ratio is 1.63, which is lower than the CARZ Sharpe Ratio of 3.29. The chart below compares the historical Sharpe Ratios of XTN and CARZ, 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

XTN vs. CARZ - Drawdown Comparison

The maximum XTN drawdown since its inception was -43.77%, smaller than the maximum CARZ drawdown of -51.20%. Use the drawdown chart below to compare losses from any high point for XTN and CARZ.

Drawdown Indicators

	XTN	CARZ	Difference
Max Drawdown Largest peak-to-trough decline	-43.77%	-51.20%	+7.43%
Max Drawdown (1Y) Largest decline over 1 year	-17.28%	-14.44%	-2.84%
Max Drawdown (3Y) Largest decline over 3 years	-33.69%	-27.84%	-5.85%
Max Drawdown (5Y) Largest decline over 5 years	-35.05%	-40.30%	+5.25%
Max Drawdown (10Y) Largest decline over 10 years	-43.77%	-51.20%	+7.43%
Current Drawdown Current decline from peak	-3.37%	-7.71%	+4.34%
Average Drawdown Average peak-to-trough decline	-10.91%	-12.87%	+1.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.26%	3.89%	+2.37%

Volatility

XTN vs. CARZ - Volatility Comparison

The current volatility for SPDR S&P Transportation ETF (XTN) is 7.65%, while First Trust NASDAQ Global Auto Index Fund (CARZ) has a volatility of 16.09%. This indicates that XTN experiences smaller price fluctuations and is considered to be less risky than CARZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XTN	CARZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.65%	16.09%	-8.44%
Volatility (6M) Calculated over the trailing 6-month period	22.64%	24.90%	-2.26%
Volatility (1Y) Calculated over the trailing 1-year period	28.35%	29.42%	-1.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.94%	28.81%	-1.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.21%	26.54%	-0.33%

XTN vs. CARZ - Expense Ratio Comparison

XTN has a 0.35% expense ratio, which is lower than CARZ's 0.70% expense ratio.

Dividends

XTN vs. CARZ - Dividend Comparison

XTN's dividend yield for the trailing twelve months is around 0.65%, less than CARZ's 1.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CARZ First Trust NASDAQ Global Auto Index Fund	1.46%	2.13%	1.17%	1.40%	1.59%	2.25%	0.63%	3.23%	2.85%	2.11%	2.47%	1.64%
XTN SPDR S&P Transportation ETF	0.65%	0.78%	0.93%	0.73%	1.04%	1.02%	0.75%	1.17%	0.98%	0.63%	0.66%	1.03%

Frequently Asked Questions

Can I hold both XTN and CARZ in my portfolio?

XTN and CARZ have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XTN or CARZ?

CARZ has higher volatility (16.09%) compared to XTN (7.65%). In terms of maximum drawdown, XTN dropped -43.77% vs CARZ's -51.20%.

Which ETF is better, XTN or CARZ?

On 10-year performance, CARZ leads with 16.27% vs 11.36% for XTN. On fees, XTN is cheaper at 0.35% per year. On volatility, XTN has been the lower-risk option at 7.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XTN or CARZ?

Over the 10-year period, CARZ has performed better with a 16.27% return vs 11.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XTN or CARZ?

XTN is cheaper with a 0.35% expense ratio, compared with 0.70% for CARZ.

Which ETF pays a higher dividend yield, XTN or CARZ?

CARZ has the higher dividend yield at 1.46%, compared with 0.65% for XTN.

What is the main difference between XTN and CARZ?

XTN is categorized as Transportation Equities, while CARZ is Consumer Discretionary Equities. XTN tracks S&P Transportation Select Industry Index, while CARZ tracks NASDAQ OMX Global Automobile (TR). They also come from different issuers: State Street and First Trust. Their fees differ too: 0.35% for XTN and 0.70% for CARZ.

Which has better risk-adjusted returns?

CARZ currently has the higher Sharpe Ratio (3.29 vs 1.63), 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.