AGOX vs XSW

Comparison between ADAPTIVE ALPHA OPPORTUNITIES ETF (AGOX, ETF) and STATE STREET(R) SPDR(R) S&P(R) SOFTWARE & SERVICES ETF (XSW, ETF).

5-Year PerformanceAGOX has outperformed XSW, delivering a return of +8.7% compared to +0.9%

AGOX vs XSW - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	AGOX(ETF)	XSW(ETF)
Net Assets	$364M	$365M
Expense Ratio	1.33%	0.35%
Max Drawdown	30.21%	45.41%
Sharpe Ratio	1.13	-0.31
5Y Beta	0.98	1.27
P/E Ratio	N/A	-180.65
Forward P/E	N/A	15.12
5Y Dividends CAGR	N/A	-10.61%
Debt to Equity	N/A	32.90%
P/S Ratio	N/A	2.45
P/B Ratio	N/A	3.64

Net Assets

AGOX

$364M

Winner

XSW

$365M

Expense Ratio

AGOX

1.33%

Winner

XSW

0.35%

Max Drawdown

Winner

AGOX

30.21%

XSW

45.41%

Sharpe Ratio

Winner

AGOX

1.13

XSW

-0.31

5Y Beta

Winner

AGOX

0.98

XSW

1.27

P/E Ratio

AGOX

N/A

XSW

-180.65

Forward P/E

AGOX

N/A

XSW

15.12

5Y Dividends CAGR

AGOX

N/A

XSW

-10.61%

Debt to Equity

AGOX

N/A

XSW

32.90%

P/S Ratio

AGOX

N/A

XSW

2.45

P/B Ratio

AGOX

N/A

XSW

3.64

AGOX vs XSW - Holdings Comparison

AGOX and XSW have 2 common holdings. Overlap is -5.47%

AGOX's top 25 holdings weight is 72.49%. XSW's top 25 holdings weight is 26.99%.

Rank	AGOX	XSW
#1	STATE STREET®HLTHCRSELSECTSPDR®ETF (XLV) - 5.74%	ARTERIS INC (AIP) - 1.67%
#2	QQQ 260618C0066000 (n/a) - 5.48%	HUT 8 CORP (HUT) - 1.51%
#3	STATE STREET®TECHSELSECTSPDR®ETF (XLK) - 5.05%	RIOT PLATFORMS INC (RIOT) - 1.21%
#4	VANGUARD FTSE EMERGING MARKETS ETF (VWO) - 4.61%	DATADOG INC CLASS A (DDOG) - 1.20%
#5	STATE STREET® COMMSERVSELSECTSPDR®ETF (XLC) - 4.60%	CLEANSPARK INC (CLSK) - 1.20%
#6	QQQ 260821C0058500 (n/a) - 4.12%	MARA HOLDINGS INC (MARA) - 1.15%
#7	WDC 270115C0027000 (n/a) - 3.59%	TERAWULF INC (WULF) - 1.14%
#8	ISHARES GLOBAL INFRASTRUCTURE ETF (IGF) - 2.93%	CIPHER DIGITAL INC (CIFR) - 1.12%
#9	SPY 260618C0072100 (n/a) - 2.80%	CERENCE INC ORDINARY SHARES (CRNC) - 1.11%
#10	SMH 260918C0053000 (n/a) - 2.71%	FORTINET INC (FTNT) - 1.10%
#11	SMH 260717C0039500 (n/a) - 2.67%	n/a (CORZ) - 1.09%
#12	QQQ 260821C0064000 (n/a) - 2.64%	AURORA INNOVATION INC CLASS A (AUR) - 1.08%
#13	SPDR® GOLD SHARES (GLD) - 2.49%	PALO ALTO NETWORKS INC (PANW) - 1.07%
#14	ISHARES MSCI USA MOMENTUM FACTOR ETF (MTUM) - 2.40%	CROWDSTRIKE HOLDINGS INC CLASS A (CRWD) - 1.04%
#15	HOWMET AEROSPACE INC (HWM) - 2.26%	D-WAVE QUANTUM INC (QBTS) - 1.01%
#16	IWM 260618C0025000 (n/a) - 2.11%	A10 NETWORKS INC (ATEN) - 0.97%
#17	ISHARES MSCI EAFE VALUE ETF (EFV) - 2.06%	CLEAR SECURE INC ORDINARY SHARES CLASS A (YOU) - 0.96%
#18	QQQ 260821C0070500 (n/a) - 1.97%	NEXTNAV INC (NN) - 0.94%
#19	NVIDIA CORP (NVDA) - 1.92%	FIVE9 INC (FIVN) - 0.93%
#20	SMH 260618C0038500 (n/a) - 1.91%	BRAZE INC CLASS A (BRZE) - 0.93%
#21	SMH 260717C0046500 (n/a) - 1.83%	n/a (PRCH) - 0.92%
#22	SPY 260821C0073500 (n/a) - 1.83%	COMMVAULT SYSTEMS INC (CVLT) - 0.92%
#23	FIDELITY INV MM GOVERNMENT I (FIGXX) - 1.70%	UNITY SOFTWARE INC ORDINARY SHARES (U) - 0.92%
#24	QQQ 260717C0068000 (n/a) - 1.57%	LIVERAMP HOLDINGS INC (RAMP) - 0.90%
#25	QQQ 260618C0061500 (n/a) - 1.50%	ZOOM COMMUNICATIONS INC (ZM) - 0.90%
Total Holdings	300	137

AGOX vs XSW - Historical Returns

Returns include dividend reinvestment.

Period	AGOX	XSW
1 month	+6.89%	+4.54%
3 months	+21.80%	+6.58%
6 months	+18.24%	-12.25%
1 year	+25.65%	-8.38%
5 years(CAGR)	+8.68%	+0.87%
10 years(CAGR)	N/A	+12.75%
Max(CAGR)	+9.74%	+14.70%

Winner

AGOX

+6.89%

XSW

+4.54%

Winner

AGOX

+21.80%

XSW

+6.58%

Winner

AGOX

+18.24%

XSW

-12.25%

Winner

AGOX

+25.65%

XSW

-8.38%

5Y(CAGR)

Winner

AGOX

+8.68%

XSW

+0.87%

10Y(CAGR)

AGOX

N/A

XSW

+12.75%

Max(CAGR)

AGOX

+9.74%

Winner

XSW

+14.70%

AGOX vs XSW - Annual Returns (2011 - 2026)

Returns include dividend reinvestment.

Year	AGOX	XSW
2026	+19.14%	-8.46%
2025	+7.02%	-1.16%
2024	+16.55%	+29.32%
2023	+19.27%	+38.62%
2022	-19.09%	-34.54%
2021	+9.84%	+9.73%
2020	N/A	+50.39%
2019	N/A	+35.90%
2018	N/A	+7.47%
2017	N/A	+27.51%
2016	N/A	+12.67%
2015	N/A	+10.00%
2014	N/A	+6.95%
2013	N/A	+44.43%
2012	N/A	+13.85%
2011	N/A	+13.75%

AGOX vs XSW Drawdown Comparison

The maximum drawdown for AGOX was -26.92%, occurring on Oct 14, 2022. Recovery took 578 trading sessions.

The maximum drawdown for XSW was -45.38%, occurring on Nov 9, 2022. Recovery took 755 trading sessions.

The current AGOX drawdown is -1.85%. The current XSW drawdown is -18.04%.

Rank	AGOX	XSW
#1	-26.92% Nov 16, 2021 - Mar 7, 2024	-45.38% Nov 9, 2021 - Nov 11, 2024
#2	-21.15% Jan 23, 2025 - Jun 30, 2025	-37.82% Feb 19, 2020 - Jun 23, 2020
#3	-15.36% Oct 28, 2025 - Apr 15, 2026	-33.75% Sep 22, 2025 - Apr 10, 2026
#4	-8.86% Aug 19, 2024 - Oct 14, 2024	-30.79% Dec 6, 2024 - Sep 22, 2025
#5	-8.25% Mar 7, 2024 - May 24, 2024	-24.69% Jun 23, 2015 - Jul 12, 2016
#6	-8.15% Jul 10, 2024 - Aug 15, 2024	-24.20% Sep 14, 2018 - Feb 25, 2019
#7	-6.73% Dec 4, 2024 - Jan 22, 2025	-16.73% Mar 5, 2014 - Dec 19, 2014
#8	-6.18% Oct 14, 2024 - Dec 2, 2024	-14.60% Feb 12, 2021 - Aug 27, 2021
#9	-4.83% Jul 2, 2021 - Jul 29, 2021	-12.81% Mar 27, 2012 - Sep 7, 2012
#10	-4.61% Sep 2, 2021 - Oct 19, 2021	-11.35% Sep 14, 2012 - Jan 11, 2013
#11	-3.62% May 14, 2026 - Jun 1, 2026	-10.81% Sep 2, 2020 - Oct 12, 2020
#12	-3.44% Aug 11, 2021 - Aug 25, 2021	-10.50% Jul 26, 2019 - Nov 26, 2019
#13	-3.08% May 28, 2024 - Jun 12, 2024	-10.22% Oct 27, 2011 - Jan 24, 2012
#14	-2.95% Oct 9, 2025 - Oct 27, 2025	-9.11% Apr 30, 2019 - Jul 10, 2019
#15	-2.79% Apr 23, 2026 - May 6, 2026	-9.02% Oct 13, 2020 - Nov 16, 2020

Correlation

Correlation between AGOX and XSW is 0.77 which considered as a strong positive correlation - the stocks tend to move together.

0.77

-101

Dividend Comparison (2011 - 2025)

AGOX vs XSW dividend yield comparison.

Year	AGOX	XSW
2025	3.23%	0.06%
2024	3.94%	0.07%
2023	0.27%	0.20%
2022	0.20%	0.09%
2021	6.36%	0.13%
2020	0.00%	0.26%
2019	0.00%	0.12%
2018	0.00%	0.31%
2017	0.00%	0.46%
2016	0.00%	0.87%
2015	0.00%	0.54%
2014	0.00%	0.53%
2013	0.00%	2.07%
2012	0.00%	3.64%
2011	0.00%	0.06%