XTN vs. IYT

Last updated Jun 23, 2026

XTN (SPDR S&P Transportation ETF) and IYT (iShares Transportation Average ETF) are both Transportation Equities funds - XTN tracks the S&P Transportation Select Industry Index while IYT tracks the Dow Jones Transportation Average Index. Both are passively managed. Over the past 10 years, XTN returned 11.40%/yr vs 11.22%/yr for IYT. Their correlation of 0.91 suggests significant overlap in exposure. XTN charges 0.35%/yr vs 0.42%/yr for IYT.

Performance

XTN vs. IYT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Transportation ETF (XTN) and iShares Transportation Average ETF (IYT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XTN achieves a 25.03% return, which is significantly higher than IYT's 14.16% return. Both investments have delivered pretty close results over the past 10 years, with XTN having a 11.40% annualized return and IYT not far behind at 11.22%.

XTN

• 1D: 0.39%
• 1M: 7.26%
• YTD: 25.03%
• 6M: 21.61%
• 1Y: 49.87%
• 3Y*: 14.20%
• 5Y*: 6.59%
• 10Y*: 11.40%

IYT

• 1D: 0.79%
• 1M: 4.05%
• YTD: 14.16%
• 6M: 12.21%
• 1Y: 31.37%
• 3Y*: 13.83%
• 5Y*: 6.62%
• 10Y*: 11.22%

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

XTN vs. IYT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XTN SPDR S&P Transportation ETF	25.03%	6.33%	4.86%	25.22%	-28.10%	33.68%	12.11%	21.85%	-17.26%	21.55%
IYT iShares Transportation Average ETF	14.16%	11.48%	4.10%	24.62%	-21.74%	26.41%	14.20%	20.11%	-12.87%	18.89%

Correlation

The correlation between XTN and IYT is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jan 27, 2011	0.91

The correlation between XTN and IYT has been stable across timeframes, ranging from 0.89 to 0.93 - a consistent structural relationship.

XTN vs. IYT - Sectors Allocation Comparison

Sectors	XTN	IYT
Industrials	95.7%	84.4%
Technology	4.3%	15.6%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

XTN vs. IYT — Risk / Return Rank

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

XTN

XTN Risk / Return Rank: 52
XTN Sharpe Ratio Rank: 53
XTN Sortino Ratio Rank: 50
XTN Omega Ratio Rank: 48
XTN Calmar Ratio Rank: 60
XTN Martin Ratio Rank: 49

IYT

IYT Risk / Return Rank: 47
IYT Sharpe Ratio Rank: 45
IYT Sortino Ratio Rank: 44
IYT Omega Ratio Rank: 42
IYT Calmar Ratio Rank: 54
IYT Martin Ratio Rank: 51

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. IYT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Transportation ETF (XTN) and iShares Transportation Average ETF (IYT). 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	IYT	Difference
Sharpe ratio: Return per unit of total volatility	1.77	1.52	+0.24
Sortino ratio: Return per unit of downside risk	2.40	2.15	+0.25
Omega ratio: Gain probability vs. loss probability	1.30	1.27	+0.03
Calmar ratio: Return relative to maximum drawdown	2.90	2.61	+0.29
Martin ratio: Return relative to average drawdown	7.99	8.46	-0.47

XTN vs. IYT - Sharpe Ratio Comparison

The current XTN Sharpe Ratio is 1.77, which is comparable to the IYT Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of XTN and IYT, 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. IYT - Drawdown Comparison

The maximum XTN drawdown since its inception was -43.77%, smaller than the maximum IYT drawdown of -60.39%. Use the drawdown chart below to compare losses from any high point for XTN and IYT.

Drawdown Indicators

	XTN	IYT	Difference
Max Drawdown Largest peak-to-trough decline	-43.77%	-60.39%	+16.62%
Max Drawdown (1Y) Largest decline over 1 year	-17.28%	-12.09%	-5.19%
Max Drawdown (3Y) Largest decline over 3 years	-33.69%	-26.35%	-7.34%
Max Drawdown (5Y) Largest decline over 5 years	-35.05%	-29.15%	-5.90%
Max Drawdown (10Y) Largest decline over 10 years	-43.77%	-41.28%	-2.49%
Current Drawdown Current decline from peak	-3.07%	-2.21%	-0.86%
Average Drawdown Average peak-to-trough decline	-10.91%	-9.30%	-1.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.26%	3.72%	+2.54%

Volatility

XTN vs. IYT - Volatility Comparison

SPDR S&P Transportation ETF (XTN) has a higher volatility of 7.63% compared to iShares Transportation Average ETF (IYT) at 7.02%. This indicates that XTN's price experiences larger fluctuations and is considered to be riskier than IYT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XTN	IYT	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.63%	7.02%	+0.61%
Volatility (6M) Calculated over the trailing 6-month period	22.65%	16.25%	+6.40%
Volatility (1Y) Calculated over the trailing 1-year period	28.40%	20.72%	+7.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.94%	22.40%	+4.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.25%	23.21%	+3.04%

XTN vs. IYT - Expense Ratio Comparison

XTN has a 0.35% expense ratio, which is lower than IYT's 0.42% expense ratio.

Dividends

XTN vs. IYT - Dividend Comparison

XTN's dividend yield for the trailing twelve months is around 0.77%, less than IYT's 0.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IYT iShares Transportation Average ETF	0.93%	1.00%	1.08%	1.26%	1.40%	0.77%	0.93%	1.29%	1.35%	0.92%	0.96%	1.28%
XTN SPDR S&P Transportation ETF	0.77%	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 IYT in my portfolio?

XTN and IYT have a correlation of 0.89, 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 IYT?

XTN has higher volatility (7.63%) compared to IYT (7.02%). In terms of maximum drawdown, XTN dropped -43.77% vs IYT's -60.39%.

Which ETF is better, XTN or IYT?

On 10-year performance, XTN leads with 11.40% vs 11.22% for IYT. On fees, XTN is cheaper at 0.35% per year. On volatility, IYT has been the lower-risk option at 7.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XTN or IYT?

Over the 10-year period, XTN has performed better with a 11.40% return vs 11.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XTN or IYT?

XTN is cheaper with a 0.35% expense ratio, compared with 0.42% for IYT.

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

IYT has the higher dividend yield at 0.93%, compared with 0.77% for XTN.

What is the main difference between XTN and IYT?

XTN tracks S&P Transportation Select Industry Index, while IYT tracks Dow Jones Transportation Average Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.35% for XTN and 0.42% for IYT.

Which has better risk-adjusted returns?

XTN currently has the higher Sharpe Ratio (1.77 vs 1.52), 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.