Benchmark research · Financial Sector
ETFs and Stocks That Consistently Outperformed XLF (Financial Sector)
Any investment can look great over a single hand-picked timeframe. To find what truly kept ahead of XLF (State Street Financial Select Sector SPDR ETF), we screened XLF against the entire market of over 10,000 stocks and ETFs across 8 different time windows from 1 month to 10 years, including reinvested dividends. A contender had to come out ahead in both the short term and the long term to make the list. Data as of October 22, 2026.
Compare the entire market against XLF live →Key findings
- How hard it was to top XLF: Across a screen of over 10,000 stocks and ETFs, 97 of 957 eligible ETFs (10%) and 293 of 1,502 eligible stocks (20%) outperformed XLF in a majority of both short-term and long-term timeframes. A smaller group held ahead in all but one short-term timeframe and every long-term timeframe: 16 ETFs and 91 stocks.
- Who came out ahead across the three groups:
- Popular alternatives: None of the listed comparisons made the cut. JPM outperformed in 2 of 5 short-term timeframes and 3 of 3 long-term ones, while MS and GS each managed 1 of 5 short-term and 3 of 3 long-term timeframes. C and BAC also fell short, with C ahead in 1 of 5 short-term and 2 of 3 long-term timeframes, and BAC ahead in 0 of 5 and 2 of 3.
- Top ETFs: Technology was the leading category, with 7 of the top ETFs, alongside 4 broad-market funds. Standouts include technology funds IYW, VGT, FTEC, and CIBR, each ahead in 4 of 5 short-term and 3 of 3 long-term timeframes. BNO and DBE also outperformed in every listed timeframe.
- Top stocks: 293 stocks made the cut. The top stocks span healthcare, consumer staples, industrials, and energy. LLY from healthcare, COKE from consumer staples, URI from industrials, and MPC from energy each outperformed in 5 of 5 short-term and 3 of 3 long-term timeframes.
- The risk trade-off: The top ETFs and stocks generally had bumpier returns than XLF over 5 years. The top ETFs had median volatility of 26.1% versus 18.3% for XLF, and 14 of 15 had higher Sharpe ratios, a measure of return relative to risk. The top stocks had median volatility of 39.8%, roughly double or more than XLF, while all 10 had higher Sharpe ratios.
How popular alternatives compare
Well-known funds and stocks investors often compare against XLF, sorted by long-term periods outperformed, then short-term.
| Investment | Periods outperformed | Short term | Long term | Risk · 5 years | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Volatilitylower is calmer | Sharpe ratiohigher is better | ||
| XLF State Street Financial Select Sector SPDR ETF (benchmark) | — | +3.4% | +1.4% | +9.3% | +4.4% | +9.8% | +85.5% | +52.0% | +245% | 18.3% | 0.55 |
| JPM Fell shortJPMorgan Chase & Co. | 2/5 short3/3 long | −0.5% | −2.9% | +8.5% | +5.4% | +16.6% | +154% | +122% | +534% | 24.3%1.3× XLF | 0.78 |
| MS Fell shortMorgan Stanley | 1/5 short3/3 long | −8.1% | −15.3% | −2.7% | +2.8% | +19.0% | +181% | +112% | +630% | 28.9%1.6× XLF | 0.67 |
| GS Fell shortThe Goldman Sachs Group, Inc. | 1/5 short3/3 long | −6.1% | −18.4% | −3.8% | −1.1% | +22.1% | +218% | +143% | +524% | 28.6%1.6× XLF | 0.77 |
| C Fell shortCitigroup Inc. | 1/5 short2/3 long | −7.5% | −6.9% | −4.6% | +4.8% | +29.9% | +245% | +104% | +234% | 29.4%1.6× XLF | 0.63 |
| BAC Fell shortBank of America Corporation | 0/5 short2/3 long | −9.1% | −16.7% | −2.9% | −7.2% | +2.1% | +115% | +21.4% | +281% | 26.6%1.5× XLF | 0.28 |
| IYF Fell shortiShares U.S. Financials ETF | 0/5 short2/3 long | +1.5% | −0.9% | +6.1% | +2.7% | +9.9% | +91.9% | +58.8% | +244% | 18.9%1.0× XLF | 0.59 |
| WFC Fell shortWells Fargo & Company | 0/5 short2/3 long | −0.2% | −3.4% | +4.2% | −11.4% | +1.1% | +126% | +85.1% | +140% | 29.5%1.6× XLF | 0.57 |
| KBE Fell shortState Street SPDR S&P Bank ETF | 2/5 short1/3 long | +0.9% | −4.5% | +4.4% | +9.5% | +18.1% | +105% | +32.7% | +143% | 26.9%1.5× XLF | 0.35 |
| KRE Fell shortState Street SPDR S&P Regional Banking ETF | 2/5 short1/3 long | +1.7% | −3.7% | +5.8% | +12.9% | +22.6% | +102% | +14.1% | +114% | 29.4%1.6× XLF | 0.24 |
| BX Fell shortBlackstone Inc. | 0/5 short1/3 long | −4.2% | −2.3% | −6.7% | −22.9% | −23.6% | +40.9% | +2.8% | +647% | 39.9%2.2× XLF | 0.21 |
ETFs that consistently outperformed XLF
Top 15 by long-term periods outperformed, then short-term, then by 10Y return. Green cells outperformed XLF in that period. Excludes leveraged and inverse funds, ETFs under $100M in assets, stocks under $2.0B in market cap, and anything without 10 years of history.
| # | Investment | Periods outperformed | Short term | Long term | Risk · 5 years | Fund | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Volatilitylower is calmer | Sharpe ratiohigher is better | Expense | Assets | |||
| — | XLF State Street Financial Select Sector SPDR ETF (benchmark) | — | +3.4% | +1.4% | +9.3% | +4.4% | +9.8% | +85.5% | +52.0% | +245% | 18.3% | 0.55 | ||
| 1 | BNO CommoditiesUnited States Brent Oil Fund LP | 5/5 short3/3 longAll-weather | +19.0% | +34.0% | +36.4% | +144% | +139% | +118% | +205% | +359% | 37.1%2.0× XLF | 0.79 | 1.15% | $768M |
| 2 | DBE AlternativesInvesco DB Energy Fund | 5/5 short3/3 longAll-weather | +11.4% | +26.4% | +33.5% | +130% | +123% | +98.0% | +149% | +268% | 30.6%1.7× XLF | 0.75 | 0.79% | $132M |
| 3 | IYW Broad MarketiShares U.S. Technology ETF | 4/5 short3/3 longAll-weather | −6.4% | +2.4% | +16.3% | +24.7% | +26.1% | +138% | +135% | +773% | 26.7%1.5× XLF | 0.78 | 0.37% | $24B |
| 4 | VGT TechnologyVanguard Information Technology ETF | 4/5 short3/3 longAll-weather | −6.1% | +2.7% | +15.4% | +25.9% | +26.7% | +135% | +130% | +753% | 26.1%1.4× XLF | 0.77 | 0.09% | $178B |
| 5 | FTEC TechnologyFidelity MSCI Information Technology Index ETF | 4/5 short3/3 longAll-weather | −6.1% | +2.6% | +15.4% | +25.9% | +26.9% | +136% | +132% | +737% | 26.1%1.4× XLF | 0.78 | 0.08% | $22B |
| 6 | RSPT TechnologyInvesco S&P 500 Equal Weight Technology ETF | 4/5 short3/3 longAll-weather | −3.9% | +6.2% | +21.6% | +40.0% | +43.0% | +141% | +116% | +559% | 25.1%1.4× XLF | 0.74 | 0.40% | $6.1B |
| 7 | FXL TechnologyFirst Trust Technology AlphaDEX Fund | 4/5 short3/3 longAll-weather | −2.1% | +8.6% | +17.8% | +28.7% | +29.3% | +104% | +66.4% | +514% | 26.2%1.4× XLF | 0.52 | 0.60% | $2.7B |
| 8 | CIBR TechnologyFirst Trust Nasdaq Cybersecurity ETF | 4/5 short3/3 longAll-weather | +0.2% | +15.1% | +49.3% | +45.8% | +35.2% | +134% | +96.7% | +461% | 26.2%1.4× XLF | 0.65 | 0.58% | $17B |
| 9 | EWT TechnologyiShares MSCI Taiwan ETF | 4/5 short3/3 longAll-weather | −9.7% | +2.3% | +20.7% | +60.6% | +67.3% | +187% | +147% | +448% | 24.3%1.3× XLF | 0.87 | 0.59% | $12B |
| 10 | UGA CommoditiesUnited States Gasoline Fund, LP | 4/5 short3/3 longAll-weather | −0.6% | +16.0% | +32.8% | +132% | +125% | +117% | +227% | +401% | 35.1%1.9× XLF | 0.85 | 1.08% | $167M |
| 11 | HACK TechnologyAmplify Cybersecurity ETF | 4/5 short3/3 longAll-weather | +0.6% | +15.7% | +51.5% | +54.8% | +42.0% | +142% | +87.4% | +381% | 25.8%1.4× XLF | 0.62 | 0.60% | $3.3B |
| 12 | CRAK EnergyVanEck Oil Refiners ETF | 4/5 short3/3 longAll-weather | +0.5% | +15.8% | +36.4% | +69.7% | +74.3% | +118% | +143% | +325% | 20.9%1.1× XLF | 0.96 | 0.61% | $810M |
| 13 | WTV Broad MarketWisdomTree U.S. Value Fund | 4/5 short3/3 longAll-weather | +2.9% | +3.5% | +11.1% | +16.8% | +20.7% | +92.0% | +89.0% | +306% | 17.0%0.9× XLF | 0.84 | 0.12% | $3.2B |
| 14 | FNDX Broad MarketSchwab Fundamental U.S. Large Company ETF | 4/5 short3/3 longAll-weather | +2.3% | +4.2% | +12.3% | +21.0% | +26.2% | +90.0% | +89.3% | +292% | 14.9%0.8× XLF | 0.93 | 0.25% | $28B |
| 15 | PRF Broad MarketInvesco RAFI US 1000 ETF | 4/5 short3/3 longAll-weather | +1.6% | +3.7% | +12.1% | +20.5% | +26.1% | +91.8% | +84.6% | +270% | 15.0%0.8× XLF | 0.90 | 0.34% | $10B |
Stocks that consistently outperformed XLF
Top 10 by long-term periods outperformed, then short-term, then by 10Y return. Individual stocks swing far more than funds; check the volatility column.
| # | Investment | Periods outperformed | Short term | Long term | Risk · 5 years | Company | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Volatilitylower is calmer | Sharpe ratiohigher is better | Market cap | |||
| — | XLF State Street Financial Select Sector SPDR ETF (benchmark) | — | +3.4% | +1.4% | +9.3% | +4.4% | +9.8% | +85.5% | +52.0% | +245% | 18.3% | 0.55 | |
| 1 | LLY Drug Manufacturers - GeneralEli Lilly and Company | 5/5 short3/3 longAll-weather | +11.7% | +12.5% | +42.3% | +21.5% | +61.9% | +131% | +461% | +1,870% | 32.8%1.8× XLF | 1.22 | $1.2T |
| 2 | COKE Beverages - Non-AlcoholicCoca-Cola Consolidated, Inc. | 5/5 short3/3 longAll-weather | +12.5% | +16.7% | +15.1% | +44.1% | +67.4% | +257% | +468% | +1,564% | 38.0%2.1× XLF | 1.11 | $14B |
| 3 | URI Rental & Leasing ServicesUnited Rentals, Inc. | 5/5 short3/3 longAll-weather | +6.5% | +7.5% | +38.9% | +32.3% | +13.0% | +179% | +213% | +1,407% | 39.1%2.1× XLF | 0.78 | $69B |
| 4 | MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation | 5/5 short3/3 longAll-weather | +17.9% | +45.8% | +108% | +181% | +148% | +226% | +660% | +1,314% | 33.4%1.8× XLF | 1.39 | $129B |
| 5 | CVI Oil & Gas Refining & MarketingCVR Energy, Inc. | 5/5 short3/3 longAll-weather | +12.5% | +68.6% | +88.5% | +134% | +62.6% | +105% | +289% | +1,306% | 52.4%2.9× XLF | 0.79 | $5.9B |
| 6 | WSM Specialty RetailWilliams-Sonoma, Inc. | 5/5 short3/3 longAll-weather | +12.4% | +17.7% | +33.1% | +40.7% | +40.7% | +249% | +202% | +1,298% | 44.4%2.4× XLF | 0.72 | $31B |
| 7 | FRO Marine ShippingFrontline Plc | 5/5 short3/3 longAll-weather | +6.9% | +41.8% | +62.0% | +182% | +148% | +222% | +762% | +1,270% | 49.7%2.7× XLF | 1.12 | $11B |
| 8 | HALO BiotechnologyHalozyme Therapeutics, Inc. | 5/5 short3/3 longAll-weather | +8.2% | +60.0% | +82.1% | +77.1% | +89.4% | +258% | +220% | +1,255% | 40.4%2.2× XLF | 0.78 | $14B |
| 9 | ANF Apparel - RetailAbercrombie & Fitch Co. | 5/5 short3/3 longAll-weather | +18.6% | +68.2% | +74.7% | +30.6% | +136% | +169% | +323% | +1,132% | 62.9%3.4× XLF | 0.77 | $6.9B |
| 10 | DHT Marine ShippingDHT Holdings, Inc. | 5/5 short3/3 longAll-weather | +12.8% | +41.9% | +50.2% | +133% | +126% | +207% | +443% | +1,094% | 39.0%2.1× XLF | 1.07 | $3.9B |
What stands out
The ETF results lean toward technology, while the strongest listed stocks are spread across several sectors. That mix suggests the results were not limited to financial companies, though the screen does not explain what drove each holding's returns. The leading examples were not recent-only winners: IYW, VGT, FTEC, and CIBR kept ahead in all 3 long-term timeframes as well as most short-term ones. The listed stocks LLY, COKE, URI, and MPC also outperformed across every timeframe shown.
The risk figures show the cost of that performance was a rougher ride. The top ETFs had moderately higher median volatility than XLF, and the top stocks had much higher volatility. Still, most of the ETFs and all of the top stocks had higher Sharpe ratios, meaning their returns were stronger relative to their measured risk over 5 years. These figures describe the selected winners, not the full market, and past results do not ensure the same pattern will continue.
Methodology
- Short-term periods: 1M, 3M, 6M, YTD, 1Y. Long-term periods: 3Y, 5Y, 10Y. An investment outperformed a period when its total return, with dividends reinvested, was higher than XLF's. Returns within 0.5 points or 3% of XLF's (whichever is larger) count as a tie and are shown in gray.
- Consistent means outperforming in at least 3 of 5 short-term periods and 2 of 3 long-term periods, so a recent hot streak alone is not enough. All-weather means outperforming in every long-term period and all but one short-term period. Rankings use long-term periods outperformed, then short-term, then the 10Y return.
- Excludes leveraged and inverse funds, ETFs under $100M in assets, stocks under $2.0B in market cap, and anything without 10 years of history.
- Volatility is the annualized standard deviation of daily returns over 5 years. The Sharpe ratio is return above cash divided by volatility over the same period: higher means more return per unit of risk.
- Returns and risk figures are computed from daily adjusted prices and update with each market day. Past performance does not predict future results.