XTN vs. XTL

Last updated Jun 23, 2026

XTN (SPDR S&P Transportation ETF) and XTL (SPDR S&P Telecom ETF) are both exchange-traded funds - XTN is a Transportation Equities fund tracking the S&P Transportation Select Industry Index, while XTL is a Communications Equities fund tracking the S&P Telecom Select Industry Index. Both are passively managed. Over the past 10 years, XTN returned 11.40%/yr vs 15.90%/yr for XTL. A 0.62 correlation means they provide meaningful diversification when combined. Both charge a 0.35% expense ratio.

Performance

XTN vs. XTL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Transportation ETF (XTN) and SPDR S&P Telecom ETF (XTL). 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 lower than XTL's 45.48% return. Over the past 10 years, XTN has underperformed XTL with an annualized return of 11.40%, while XTL has yielded a comparatively higher 15.90% annualized return.

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%

XTL

• 1D: 0.71%
• 1M: -5.01%
• YTD: 45.48%
• 6M: 42.07%
• 1Y: 105.42%
• 3Y*: 46.16%
• 5Y*: 17.85%
• 10Y*: 15.90%

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

XTN vs. XTL - 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%
XTL SPDR S&P Telecom ETF	45.48%	44.95%	34.89%	-1.17%	-19.18%	21.58%	22.46%	12.51%	-6.60%	0.56%

Correlation

The correlation between XTN and XTL is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (10Y) Calculated over the trailing 10-year period	0.64
Correlation (All Time) Calculated using the full available price history since Jan 27, 2011	0.62

The correlation between XTN and XTL shifts across timeframes, from 0.50 (1 year) to 0.67 (5 years), reflecting how their relationship changes across market environments.

XTN vs. XTL - Sectors Allocation Comparison

Sectors	XTN	XTL
Industrials	95.7%	-
Technology	4.3%	62.7%
Basic Materials	-	-
Communication Services	-	35.0%
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	2.3%
Utilities	-	-

Return for Risk

XTN vs. XTL — 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

XTL

XTL Risk / Return Rank: 92
XTL Sharpe Ratio Rank: 95
XTL Sortino Ratio Rank: 90
XTL Omega Ratio Rank: 87
XTL Calmar Ratio Rank: 95
XTL Martin Ratio Rank: 95

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. XTL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Transportation ETF (XTN) and SPDR S&P Telecom ETF (XTL). 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	XTL	Difference
Sharpe ratio: Return per unit of total volatility	1.77	3.51	-1.75
Sortino ratio: Return per unit of downside risk	2.40	3.96	-1.56
Omega ratio: Gain probability vs. loss probability	1.30	1.52	-0.22
Calmar ratio: Return relative to maximum drawdown	2.90	7.21	-4.31
Martin ratio: Return relative to average drawdown	7.99	28.34	-20.35

XTN vs. XTL - Sharpe Ratio Comparison

The current XTN Sharpe Ratio is 1.77, which is lower than the XTL Sharpe Ratio of 3.51. The chart below compares the historical Sharpe Ratios of XTN and XTL, 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. XTL - Drawdown Comparison

The maximum XTN drawdown since its inception was -43.77%, which is greater than XTL's maximum drawdown of -37.01%. Use the drawdown chart below to compare losses from any high point for XTN and XTL.

Drawdown Indicators

	XTN	XTL	Difference
Max Drawdown Largest peak-to-trough decline	-43.77%	-37.01%	-6.76%
Max Drawdown (1Y) Largest decline over 1 year	-17.28%	-14.70%	-2.58%
Max Drawdown (3Y) Largest decline over 3 years	-33.69%	-22.79%	-10.90%
Max Drawdown (5Y) Largest decline over 5 years	-35.05%	-37.01%	+1.96%
Max Drawdown (10Y) Largest decline over 10 years	-43.77%	-37.01%	-6.76%
Current Drawdown Current decline from peak	-3.07%	-10.30%	+7.23%
Average Drawdown Average peak-to-trough decline	-10.91%	-9.76%	-1.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.26%	3.73%	+2.53%

Volatility

XTN vs. XTL - Volatility Comparison

The current volatility for SPDR S&P Transportation ETF (XTN) is 7.63%, while SPDR S&P Telecom ETF (XTL) has a volatility of 11.45%. This indicates that XTN experiences smaller price fluctuations and is considered to be less risky than XTL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XTN	XTL	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.63%	11.45%	-3.82%
Volatility (6M) Calculated over the trailing 6-month period	22.65%	23.63%	-0.98%
Volatility (1Y) Calculated over the trailing 1-year period	28.40%	30.23%	-1.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.94%	25.37%	+1.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.25%	23.69%	+2.56%

XTN vs. XTL - Expense Ratio Comparison

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

Dividends

XTN vs. XTL - Dividend Comparison

XTN's dividend yield for the trailing twelve months is around 0.77%, less than XTL's 1.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
XTL SPDR S&P Telecom ETF	1.29%	1.05%	0.62%	0.80%	0.74%	1.25%	0.88%	0.92%	1.90%	2.08%	1.11%	1.38%
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 XTL in my portfolio?

XTN and XTL have a correlation of 0.50, 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 XTL?

XTL has higher volatility (11.45%) compared to XTN (7.63%). In terms of maximum drawdown, XTN dropped -43.77% vs XTL's -37.01%.

Which ETF is better, XTN or XTL?

On 10-year performance, XTL leads with 15.90% vs 11.40% for XTN. Both ETFs have the same 0.35% expense ratio. On volatility, XTN has been the lower-risk option at 7.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XTN or XTL?

Over the 10-year period, XTL has performed better with a 15.90% return vs 11.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XTN or XTL?

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

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

XTL has the higher dividend yield at 1.29%, compared with 0.77% for XTN.

What is the main difference between XTN and XTL?

XTN is categorized as Transportation Equities, while XTL is Communications Equities. XTN tracks S&P Transportation Select Industry Index, while XTL tracks S&P Telecom Select Industry Index.

Which has better risk-adjusted returns?

XTL currently has the higher Sharpe Ratio (3.51 vs 1.77), 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.