BOE vs XLF
BlackRock Enhanced Global Dividend Trust vs State Street Financial Select Sector SPDR ETF
Which is better, BOE or XLF?
Each has led over a different period.
XLF has a lower expense ratio. BOE led over 1Y, XLF over 3Y, 5Y and the full window. BOE is less concentrated, with 35.7% of the fund in its ten largest positions against 57.3%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | BOE | XLF |
|---|---|---|
| Expense Ratio | 0.90% | 0.08%Best |
| AUM | $737M | $51.9B |
| Dividend Yield | 7.52% | 1.40% |
| Holdings | 169 | 160 |
| YTD Return | +4.82%Best | +0.47% |
| 1Y Return | +9.32%Best | +4.02% |
| 3Y Return (annualized) | +16.03% | +19.43%Best |
| 5Y Return (annualized) | +7.46% | +8.82%Best |
| Volatility (annualized) | 19.2%Best | 22.1% |
| Max Drawdown | -76.2%Best | -83.8% |
| $10,000 over 5 years | $14,330 | $15,260Best |
| Top 10 Weight | 35.7%Best | 57.3% |
| Fund Family | BlackRock, Inc. (US) | SPDR State Street Global Advisors |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | May 26, 2005 | Dec 16, 1998 |
Volatility and max drawdown are measured over the window both funds cover: May 26, 2005 to Oct 14, 2026 (21.4 years).
BOE vs XLF growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 21.4 years both funds cover.
BOE vs XLF Performance
BlackRock Enhanced Global Dividend Trust (BOE) is an ETF from BlackRock, Inc. (US) and State Street Financial Select Sector SPDR ETF (XLF) is an ETF from SPDR State Street Global Advisors. Over the past year BOE returned +9.32% while XLF returned +4.02%. Year to date, BOE is up 4.82% versus a gain of 0.47% for XLF.
Over three years, BOE compounded at +16.03% per year against +19.43% for XLF; over five years the annualized figures are +7.46% and +8.82% respectively. Across the full 21-year window we track, XLF has the edge at +3.43% annualized vs -1.55%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
XLF has been the more volatile fund, with annualized monthly volatility of 22.1% compared with 19.2% for BOE. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -76.2% for BOE and -83.8% for XLF. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.64. They move together some of the time, and apart the rest.
Fees and Cost Over Time
BOE charges 0.90% per year while XLF charges 0.08%. On a $10,000 position that is $90 vs $8 annually, a gap of $82 per year that compounds over a long holding period. On income, BOE currently yields 7.52% against 1.40% for XLF.
Holdings Overlap
10.1% of BOE's money is in holdings XLF also owns. 5.8% of XLF's money is in holdings BOE also owns.
BOE and XLF share little of their money.
The two holdings books were reported 73 days apart, BOE as of Jun 30, 2026 and XLF as of Sep 11, 2026, so some of the difference between them is the time between the two reports rather than the funds.
6 positions in common, counted across the 51 positions we hold weights for in BOE and 77 in XLF, against full books of 169 and 160.
What only one of them owns
Our book lists 70 positions for XLF that do not appear in our book for BOE (93.7% of the fund), and 21 for BOE that do not appear in XLF (46.2%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
You are not choosing between two funds in isolation.
Whichever of BOE and XLF you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, BOE or XLF?
BOE has an expense ratio of 0.90% while XLF charges 0.08%. XLF is the cheaper option, by $82 a year on a $10,000 investment.
Which performed better, BOE or XLF?
Over the past year BOE returned +9.32% vs +4.02% for XLF, so BOE leads on 1-year performance. Over the longest common window we track (21 years), BOE annualized -1.55% vs +3.43% for XLF. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, BOE or XLF?
XLF has been the more volatile fund at 22.1% annualized versus 19.2% for BOE. Worst drawdown: BOE -76.2% vs XLF -83.8%.
Should I hold both BOE and XLF?
BOE and XLF have a monthly-return correlation of 0.64, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between BOE and XLF?
10.1% of BOE's money is in holdings XLF also owns. 5.8% of XLF's is in holdings BOE also owns. They hold 6 positions in common, counted across the 51 positions we hold weights for in BOE and 77 in XLF.
Which pays a higher dividend, BOE or XLF?
BOE yields 7.52% while XLF yields 1.40%, so BOE currently pays the higher dividend yield.
Is XLF better than BOE?
XLF has a lower expense ratio. BOE led over 1Y, XLF over 3Y, 5Y and the full window. BOE is less concentrated, with 35.7% of the fund in its ten largest positions against 57.3%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.