SPY vs XLF — 26-Year Performance Comparison
S&P 500 vs Financials — backtested 1999–2024
SPY wins$76,190 vs $46,729 on $10,000 over 26 years
SPYS&P 500
Final value$76,190
CAGR+8.1%
Max drawdown-37.6%
Best year+32% (2013)
Years won11 of 26
XLFFinancials
Final value$46,729
CAGR+6.1%
Max drawdown-63.6%
Best year+36% (2013)
Years won15 of 26
Growth of $10,000
1999–2024SPYXLF
SPY$76,190
XLF$46,729
50/50 mix$63,085
50/50 blend: $63,085 (+7.3%/yr CAGR)
Splitting equally between SPY and XLF would have landed between the two — slightly lower CAGR than SPY but less volatility. Try a custom split →
Year-by-year: SPY vs XLF
| Year | SPY | XLF | Winner |
|---|---|---|---|
| 2024 | +23.3% | +30.9% | XLF |
| 2023 | +26.3% | +12.2% | SPY |
| 2022 | -18.2% | -10.5% | XLF |
| 2021 | +28.7% | +35.0% | XLF |
| 2020 | +18.4% | -1.7% | SPY |
| 2019 | +31.5% | +32.1% | XLF |
| 2018 | -4.4% | -14.6% | SPY |
| 2017 | +21.8% | +22.2% | XLF |
| 2016 | +12.0% | +22.8% | XLF |
| 2015 | +1.4% | -1.5% | SPY |
| 2014 | +13.7% | +15.2% | XLF |
| 2013 | +32.4% | +35.6% | XLF |
| 2012 | +16.0% | +29.0% | XLF |
| 2011 | +2.1% | -17.1% | SPY |
| 2010 | +15.1% | +12.1% | SPY |
| 2009 | +26.5% | +17.5% | SPY |
| 2008 | -37.0% | -55.3% | SPY |
| 2007 | +5.5% | -18.6% | SPY |
| 2006 | +15.8% | +19.1% | XLF |
| 2005 | +4.9% | +6.1% | XLF |
| 2004 | +10.9% | +10.7% | SPY |
| 2003 | +28.7% | +29.1% | XLF |
| 2002 | -22.1% | -19.0% | XLF |
| 2001 | -11.9% | -6.3% | XLF |
| 2000 | -9.1% | +26.2% | XLF |
| 1999 | +21.0% | +16.0% | SPY |
More comparisons
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