SPDR SSGA U.S. Sector Rotation ETF (XLSR) Performance
XLSR total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +6.0% since Dec 31, 2025
- 1 year
- +9.2% total return
- 5 years
- +9.5% a year
- Since first price
- +12.8% a year since 2019
XLSR trailing returns vs SPY, QQQ, AGG
| Period | XLSR total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −1.2% | −1.3% | −1.0% | −5.0% | +0.9% |
| 3 months | +3.4% | +3.3% | +3.2% | +1.9% | −0.4% |
| 6 months | +6.1% | +5.9% | +7.8% | +8.4% | −1.5% |
| YTD | +6.0% | +5.7% | +12.3% | +15.1% | −1.0% |
| 1 year | +9.2% | +8.8% | +14.4% | +15.9% | −1.1% |
| 3 years | +65.0%+18.2%/yr | +62.3% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +57.7%+9.5%/yr | +42.6% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionApr 3, 2019 | +148.9%+12.8%/yr | +118.2% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: XLSR vs SPY
From Apr 3, 2019: XLSR grew to $24,889, SPY to $29,604.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
XLSR returns by calendar year
5 of 6 full years positive. Best 2021 (+23.7%), worst 2022 (−15.7%). 2026 is year to date.
XLSR annual returns table
| Year | XLSR | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +6.0% | −11.0% | +12.3% | +15.1% | −1.0% |
| 2025 | +17.3% | −20.6% | +17.7% | +20.8% | +7.2% |
| 2024 | +17.6% | −10.2% | +24.9% | +25.6% | +1.3% |
| 2023 | +18.9% | −10.8% | +26.2% | +54.9% | +5.7% |
| 2022 | −15.7% | −23.3% | −18.2% | −32.6% | −13.0% |
| 2021 | +23.7% | −6.1% | +28.7% | +27.4% | −1.8% |
| 2020 | +20.2% | −32.9% | +18.3% | +48.6% | +7.5% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
XLSR largest drawdowns
Now 2.8% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 19, 2020 | −32.9% | Mar 23, 2020 | Aug 12, 2020 | 33 days | 6 months |
| Jan 4, 2022 | −23.3% | Sep 30, 2022 | Jan 19, 2024 | 9 months | 2.0 years |
| Feb 19, 2025 | −20.6% | Apr 8, 2025 | Jul 24, 2025 | 48 days | 5 months |
| Dec 26, 2025 | −11.1% | Mar 30, 2026 | Apr 30, 2026 | 3 months | 4 months |
| Jul 16, 2024 | −10.2% | Aug 5, 2024 | Oct 9, 2024 | 20 days | 3 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
XLSR risk statistics
| Statistic | 3 years | 5 years | Since 2019 |
|---|---|---|---|
| Annualized return | +17.8% | +10.7% | +12.9% |
| Volatility (annualized) | 12.7% | 15.4% | 16.3% |
| Sharpe ratio | 1.02 | 0.51 | 0.67 |
| Sortino ratio | 1.87 | 0.79 | 1.07 |
| Best month | +9.5% | +9.5% | +11.6% |
| Worst month | −6.1% | −9.0% | −10.5% |
| Best 12 months | +29.0% | +29.0% | +48.5% |
| Worst 12 months | +2.5% | −15.7% | −15.7% |
| Positive months | 64% | 60% | 64% |
| Beta vs S&P 500 | 1.00 | 0.96 | — |
| Correlation with S&P 500 | 0.98 | 0.98 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
XLSR rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 79 | −15.7% | +15.3% | +48.5% | 85% |
| 3-year (a year) | 55 | +5.1% | +11.0% | +19.5% | 100% |
| 5-year (a year) | 31 | +9.3% | +12.3% | +15.2% | 100% |
Every holding period starting at a month-end since 2019. Returns for 3 years and longer are annualized.
XLSR performance overview
SPDR SSGA U.S. Sector Rotation ETF (XLSR) returned +9.2% over the past year and +9.5% a year over five years, with distributions reinvested. Since its first recorded price in 2019 it has returned +12.8% a year, turning $10,000 into about $24,889. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −32.9%, from Feb 19, 2020 to Mar 23, 2020, and it took 5 months to get back to the old high. XLSR finished 5 of its 6 full calendar years with a gain; the best year was 2021 (+23.7%) and the worst 2022 (−15.7%). Volatility has been 16.3% a year.
Related: XLSR chart, XLSR holdings, XLSR dividends. See the XLSR overview for the latest quote and fund facts.
XLSR performance FAQ
What is the XLSR return over the past year?
XLSR returned +9.2% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 8.8%.
What is the average annual return of XLSR?
XLSR has returned +9.5% a year over 5 years, +12.8% a year since April 3, 2019 (total return, distributions reinvested).
How much would $10,000 invested in XLSR be worth?
$10,000 invested in XLSR at its first recorded close on April 3, 2019 would be worth about $24,889 on October 23, 2026 with distributions reinvested.
What was the worst year for XLSR?
The worst calendar year was 2022, with a total return of −15.7%. The best was 2021 at +23.7%.
What is the biggest drawdown of XLSR?
The largest peak-to-trough decline was −32.9% between February 19, 2020 and March 23, 2020. It recovered to the old high on August 12, 2020, 5 months after the bottom.
How volatile is XLSR?
Over the past 3 years XLSR had an annualized volatility of 12.7% and a Sharpe ratio of 1.02 (excess return over 1–3 month T-bills per unit of risk).