XLI vs XLP: returns, risk and drawdowns compared
Industrial Select Sector SPDR Fund against Consumer Staples Select Sector SPDR Fund, over the same 20 years (November 2006 to October 2026) with dividends reinvested.
Data updated October 2026
From November 2006 to October 2026, XLI returned 10.3% a year and XLP 9.2% a year on average, so XLI came out ahead by 1.2% a year. XLI was the more volatile of the two (19.1% against 12.5% a year), and the deepest falls from a month-end high were 57.1% for XLI and 28.1% for XLP.
The correlation of monthly returns was 0.69: they moved together only in part. Over 205 rolling 3-year periods, XLI did better in 58% and XLP in 42%.
Side by side
| XLI | XLP | |
|---|---|---|
| Annual return (CAGR) | +10.3% | +9.2% |
| Total return | +613% | +478% |
| Annual volatility | 19.1% | 12.5% |
| Maximum drawdown (month-end) | −57.1% | −28.1% |
| Worst month | −18.6% | −12.6% |
| Best month | +18.1% | +10.5% |
| Positive months | 62% | 59% |
| Best year | 2013: +40.6% | 2019: +27.4% |
| Worst year | 2008: −38.7% | 2008: −15.0% |
| 1-year return | +9.9% | +13.2% |
| 5 years, a year | +11.5% | +7.2% |
| 10 years, a year | +13.2% | +8.3% |
| Trading currency | USD | USD |
First nine rows: the same 240 months for both funds. Trailing returns: to each fund’s last close.
Growth of 10,000: XLI vs XLP
Returns by calendar year
| Year | XLI | XLP |
|---|---|---|
| 2025 | +19.4% | +1.5% |
| 2024 | +17.3% | +12.2% |
| 2023 | +18.1% | −0.8% |
| 2022 | −5.6% | −0.8% |
| 2021 | +21.1% | +17.2% |
| 2020 | +10.9% | +10.1% |
| 2019 | +29.1% | +27.4% |
| 2018 | −13.3% | −8.1% |
| 2017 | +24.0% | +13.0% |
| 2016 | +20.0% | +5.0% |
| 2015 | −4.3% | +6.9% |
| 2014 | +10.4% | +15.7% |
| 2013 | +40.6% | +26.3% |
| 2012 | +14.9% | +10.7% |
| 2011 | −1.1% | +14.1% |
| 2010 | +27.8% | +13.8% |
| 2009 | +22.0% | +14.3% |
| 2008 | −38.7% | −15.0% |
| 2007 | +13.5% | +12.7% |
How the figures are calculated
Total return in the fund’s trading currency, from end-of-day prices with dividends reinvested on the ex-date. The fund’s own ongoing charges are already reflected in its price; trading costs, taxes and currency conversion are not included. Past returns do not predict future returns.
The comparison uses only the months in which both funds have prices, so the figures cover the same period even when one fund is older.
Questions
Which has returned more, XLI or XLP?
From November 2006 to October 2026, XLI returned +10.3% a year and XLP +9.2% a year, with dividends reinvested. Over rolling 3-year periods XLI did better in 58% of cases. Past returns do not predict future returns.
Which is riskier, XLI or XLP?
Over the same months annual volatility was 19.1% for XLI and 12.5% for XLP; the deepest fall from a month-end high was 57.1% and 28.1%, and the worst single month −18.6% and −12.6%.
How correlated are XLI and XLP?
The correlation of their monthly returns was 0.69: they moved together only in part. Combining them has historically given some diversification.
More comparisons
Source: MarketStack end-of-day prices, total return with dividends reinvested. Figures are historical and descriptive; they are not forecasts and not investment advice. MEDGE Capital does not recommend buying or selling any instrument. Risk disclaimer.