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Launched · SEC filings

State Street US Sector Rotation ETF

XLSRNYSE ArcaSPDRC

$64.66−0.53 (−0.81%)

As of Nov 2, 2026, 3:59 PM ET

C54/ 100

Rank 54 of 126 in US Active Equity

C54/100Rank 54 of 126inUS Active Equity
Intraday session: down, 79 prints from 65.19 to 64.66. Range 64.66 to 65.75. Use the arrow keys to read each point.64.8065.0065.4065.6065.8010 AM12 PM2 PM4 PM
Expense ratio
0.70%
Fund size
$1.09B
1Y total return
+6.3%
Yield · Last 12 months
0.41%
Holdings
22
Avg volume · 30D
52.4K sh
52W range
low $55.70high $67.86
Launched
Filings
SEC EDGAR

The ETF.net XLSR Grade

C

Score 54 out of 100

Category
US Active Equity⁠
Rank
54 of 126
Six-pillar profile for XLSR. Scores out of 100: Cost 47, Risk 41, Mission 74, Tradability 87, Holdings 31, Durability 88. Strongest: Durability (88). Weakest: Holdings (31). Leans toward Durability and Tradability.

Score 54 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    C47 out of 100
    Rank 64 of 126

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A74 out of 100
    Rank 26 of 49

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C41 out of 100
    Rank 86 of 126

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A87 out of 100
    Rank 5 of 126

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    D31 out of 100
    Rank 110 of 124

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A88 out of 100
    Rank 8 of 126

Our read on XLSR

ETF.net Research

In short

CSector timing, outsourced. State Street's Investment Solutions Group tilts toward and away from the S&P 500's GICS sectors using quant signals plus human judgment, typically rebalancing monthly, all inside one US large-cap ticker.

Stated mandate

The fund seeks capital appreciation through active sector rotation. It uses quantitative and qualitative analysis to adjust sector exposures and typically rebalances monthly.

Why people hold it

  • State Street's Investment Solutions Group sets the sector over- and underweights using quantitative signals plus judgment, typically rebalancing monthly. The rotation call, in one ticker.ssga.comssga.com 2
  • It dials active risk up and down against the S&P 500 rather than swinging all-in on one sector, so it still behaves like a US large-cap core position.ssga.com
  • Running since 2019, a multi-billion-dollar fund that trades with reasonable ease and sits in the upper half of a very crowded active US equity field.

Worth knowing

  • 0.70% a year is above the typical active US equity fund and multiples of systematic peers like DFAU (0.12%) and FELC (0.18%). Active judgment carries a price tag.
  • A couple dozen positions means a handful of sector calls drive the outcome, and results can drift well away from the S&P 500 in either direction.
  • The stated goal is capital appreciation, not income. Distributions arrive quarterly and are a byproduct of whatever the underlying sectors happen to pay.

XLSR Holdings

Holdings pillarD31 out of 100Rank 110 of 124 in US Active Equity
Asset class
Stocks
Holdings
22
Top-10 weight
91%
Largest holding
XLK28.0%

Sectors

  • Technology40.3%
  • Health Care23.1%
  • Communication14.9%
  • Financials11.0%
  • Consumer Discretionary8.2%
  • Industrials1.3%
  • Energy1.2%

Geography

  • United States99.59%
  • Switzerland0.25%
  • China0.10%
  • Mexico0.06%
The fund’s holdings, weight-ordered — page 1 of 2.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1XLKState Street Technology Select28.01%1,616,333$305M38
2XLVState Street Health Care Selec23.73%1,404,440$258M33
3XLFState Street Financial Select11.23%2,148,460$122M28
4XLYState Street Consumer Discreti6.29%589,337$68.5M25
5XLCState Street Communication Ser4.85%521,842$52.8M27
6NVDANVIDIA Corp3.88%197,620$42.2M848
7AAPLApple Inc3.81%119,090$41.6M723
8GOOGLAlphabet Inc Class A3.58%137,508$39M707
9GOOGAlphabet Inc Class C2.83%109,209$30.8M480
10MSFTMicrosoft Corp2.78%57,021$30.2M819
11METAMeta Platforms Inc Class A2.33%40,556$25.3M708
12AMZNAmazon.com Inc1.72%76,779$18.7M738
13XLIState Street Industrial Select1.34%85,775$14.6M26
14AVGOBroadcom Inc1.19%37,440$12.9M753
15XLEState Street Energy Select Sec1.17%185,464$12.7M33

Showing 1–15 of 22 holdings

XLSR Performance

Launched Apr 2, 2019

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.
XLSR$10,630
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. XLSR $10,630. SPY $11,199. Use the arrow keys to read each point.$9,000$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for XLSR. Periods over one year show the average yearly return.
PeriodXLSR
Year to date+4.9%
1 month−1.8%
3 months+1.7%
1 year+6.3%
3 yearsper year+18.1%
5 yearsper year+8.6%
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for XLSR
YearReturn barXLSR
2026 YTD+4.9%
2025+17.3%
2024+17.6%
2023+19.0%
2022−15.7%
2021+20.5%
2020+20.2%

XLSR in the news

XLSR Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
0.41%Last 12 months
Payout per share
$0.27Last 12 months
Last payment
$0.06 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2019–2026

One bar per payment. 29 payments from 2019 to 2026 YTD. Jun 25, 2019 $0.11; Sep 24, 2019 $0.09; Dec 24, 2019 $0.12; Mar 24, 2020 $0.13; Jun 23, 2020 $0.15; Sep 22, 2020 $0.08; Dec 29, 2020 $0.15; Mar 23, 2021 $0.08; Jun 22, 2021 $0.09; Sep 21, 2021 $0.07; Dec 28, 2021 $1.38; Mar 22, 2022 $0.11; Jun 21, 2022 $0.14; Sep 20, 2022 $0.31; Dec 20, 2022 $0.15; Mar 21, 2023 $0.11; Jun 20, 2023 $0.12; Sep 19, 2023 $0.24; Mar 19, 2024 $0.09; Jun 25, 2024 $0.10; Sep 24, 2024 $0.10; Dec 26, 2024 $0.07; Mar 26, 2025 $0.09; Jun 25, 2025 $0.10; Sep 24, 2025 $0.09; Dec 29, 2025 $0.08; Mar 26, 2026 $0.07; Jun 25, 2026 $0.05; Sep 25, 2026 $0.06. Use the arrow keys to read each point.20192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Sep 25, 2026Sep 29, 2026$0.06
Jun 25, 2026Jun 29, 2026$0.05
Mar 26, 2026Mar 30, 2026$0.07
Dec 29, 2025Dec 31, 2025$0.08
Sep 24, 2025Sep 29, 2025$0.09
Jun 25, 2025Jun 30, 2025$0.10
Mar 26, 2025Mar 31, 2025$0.09
Dec 26, 2024Dec 30, 2024$0.07
Sep 24, 2024Sep 26, 2024$0.10
Jun 25, 2024Jun 27, 2024$0.10
Mar 19, 2024Mar 22, 2024$0.09
Sep 19, 2023Sep 22, 2023$0.24

See all 29 payments⁠

$10,000 in XLSR 5 years ago paid $729 in dividends.⁠

XLSR Risk

Risk pillarC41 out of 100Rank 86 of 126 in US Active Equity
How much the fund’s monthly returns vary, scaled to a year.
12.6%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
1.04
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−23.3%
Trough Sep 2022
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.97
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

XLSR Cost

Compare XLSR and TACU

Overpaying vs TACU, cheapest in US Active Equity

$13,606

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • XLSR 0.70%

    $13,606

  • TACU 0.00% Cheapest

    $0

$10,000
30 years

Cost over time

  • XLSR 0.70%
  • TACU 0.00%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530XLSR $13,606TACU $0

Year by year

YearXLSRTACUOverpaying
10$1,250$0$1,250
20$4,760$0$4,760
30$13,606$0$13,606

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