TCV vs XLF
Towle Small-Cap Value ETF vs State Street Financial Select Sector SPDR ETF
Which is better, TCV or XLF?
TCV has been ahead.
XLF has a lower expense ratio. TCV led over 1Y and the full window. TCV is less concentrated, with 27.7% 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 | TCV | XLF |
|---|---|---|
| Expense Ratio | 0.85% | 0.08%Best |
| AUM | $202M | $51.9B |
| Dividend Yield | 0.59% | 1.40% |
| Holdings | 105 | 160 |
| YTD Return | +23.99%Best | +0.47% |
| 1Y Return | +27.95%Best | +4.02% |
| 3Y Return (annualized) | - | +19.43% |
| 5Y Return (annualized) | - | +8.82% |
| Volatility (annualized) | 16.4% | 13.3%Best |
| Max Drawdown | -12.2%Best | -14.8% |
| $10,000 over 1.2 years | $12,949Best | $10,561 |
| Top 10 Weight | 27.7%Best | 57.3% |
| Fund Family | Towle | SPDR State Street Global Advisors |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | Jul 16, 2025 | Dec 16, 1998 |
Volatility and max drawdown, and the $10,000 over 1.2 years row, are measured over the window both funds cover: Jul 17, 2025 to Oct 14, 2026 (1.2 years).
TCV 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 1.2 years both funds cover.
TCV vs XLF Performance
Towle Small-Cap Value ETF (TCV) is an ETF from Towle and State Street Financial Select Sector SPDR ETF (XLF) is an ETF from SPDR State Street Global Advisors. Over the past year TCV returned +27.95% while XLF returned +4.02%. Year to date, TCV is up 23.99% versus a gain of 0.47% for XLF.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TCV has been the more volatile fund, with annualized monthly volatility of 16.4% compared with 13.3% for XLF. 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 -12.2% for TCV and -14.8% 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 0.49. They move together some of the time, and apart the rest.
Fees and Cost Over Time
TCV charges 0.85% per year while XLF charges 0.08%. On a $10,000 position that is $85 vs $8 annually, a gap of $77 per year that compounds over a long holding period. On income, TCV currently yields 0.59% against 1.40% for XLF.
Holdings Overlap
We hold position weights for 51 holdings in TCV and 77 in XLF, totalling 100.0% and 99.8% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 51 positions we hold weights for in TCV and 77 in XLF, against full books of 105 and 160.
What only one of them owns
Our book lists 76 positions for XLF that do not appear in our book for TCV (99.5% of the fund), and 49 for TCV that do not appear in XLF (96.2%).
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.
You are not choosing between two funds in isolation.
Whichever of TCV 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, TCV or XLF?
TCV has an expense ratio of 0.85% while XLF charges 0.08%. XLF is the cheaper option, by $77 a year on a $10,000 investment.
Which performed better, TCV or XLF?
Over the past year TCV returned +27.95% vs +4.02% for XLF, so TCV leads on 1-year performance. Over the longest common window we track (1 years), TCV annualized +24.03% vs +4.65% for XLF. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, TCV or XLF?
TCV has been the more volatile fund at 16.4% annualized versus 13.3% for XLF. Worst drawdown: TCV -12.2% vs XLF -14.8%.
Should I hold both TCV and XLF?
TCV and XLF have a monthly-return correlation of 0.49, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, TCV or XLF?
TCV yields 0.59% while XLF yields 1.40%, so XLF currently pays the higher dividend yield.
Is XLF better than TCV?
XLF has a lower expense ratio. TCV led over 1Y and the full window. TCV is less concentrated, with 27.7% 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.