History of Market · The Chronicle of the U.S. Stock Market Consumer
Gathering VI · leaf 4 of 16
XLY ÷ XLP · Daily

XLY ÷ XLP · Daily — The XLY/XLP Ratio: Discretionary Over Staples as a Risk-Appetite Gauge

XLY/XLP Risk-Appetite Ratio — Discretionary divided by staples as a daily gauge of consumer risk appetite, with recessions shaded.

Dividing the discretionary ETF by the staples ETF removes the market and leaves the mood. The ratio rises when households and investors are willing to spend on wants, and falls into every recession band on the chart. Running highs and lows are marked; the series begins on the day both funds listed.

View the interactive chart Download raw JSON

What this page answers

The latest observation for the XLY ÷ XLP ratio stands at 1.36 (2026-09-04). The historical series spans 1998-12-22 through the present with 6968 data points; its secular mean is 0.97, with an all-time peak of 1.62 (2025-11-03) and a cyclical floor of 0.48 (2008-11-20).

Dividing the discretionary ETF by the staples ETF removes the market and leaves the mood. The ratio rises when households and investors are willing to spend on wants, and falls into every recession band on the chart. Running highs and lows are marked; the series begins on the day both funds listed. The data is refreshed by the History of Market pipeline and published as a stable JSON endpoint for research, citation, and AI-agent use.

The plate

XLY ÷ XLP · Daily — The XLY/XLP Ratio: Discretionary Over Staples as a Risk-Appetite Gauge0.51.01.5200020052010201520202025
Plate VI.4 Dividing the discretionary ETF by the staples ETF removes the market and leaves the mood. The ratio rises when households and investors are willing to spend on wants, and falls into every recession band on the chart. Running highs and lows are marked; the series begins on the day both funds listed. 2026-09-06

Latest Snapshot

Updated
2026-09-06
Observations
6,968
Sample
1998-12-22 – 2026-09-04

XLY ÷ XLP ratio — historical year-end index readings

XLY ÷ XLP ratio — historical year-end index readings
DateValue
2026-09-041.36
2025-12-311.55
2024-12-311.47
2023-12-291.30
2022-12-300.92
2021-12-311.44
2020-12-311.32
2019-12-311.12
2018-12-311.11
2017-12-291.00
2016-12-300.92
2015-12-310.92
2014-12-310.89
2013-12-310.94
2012-12-310.83
2011-12-300.75
2010-12-310.80
2009-12-310.72
2008-12-310.58
2007-12-310.74
2006-12-290.96
2005-12-300.93
2004-12-311.03
2003-12-310.98
2002-12-310.79
2001-12-310.78
2000-12-290.62
1999-12-310.94
1998-12-310.67

Displaying the 29 most recent of 6968 observations — complete series in JSON: https://historyofmarket.com/api/consumer/ratio.json

Data & Source

GET /api/consumer/ratio.json — Canonical dataset endpoint.

Exchange closing prices · Company filings · Robert Shiller · FRED · NBER.

FAQ

What is the latest reading for XLY ÷ XLP ratio?

1.36 as of 2026-09-04, compared against a long-term historical mean of 0.97.

What historical period does the XLY ÷ XLP ratio data cover?

1998-12-22 through 2026-09-04 across 6968 continuous observations.

Where does this data come from?

History of Market combines public market and macro datasets — exchange closing prices, company filings, Robert Shiller, FRED, NBER, and the UBS Global Investment Returns Yearbook (Dimson–Marsh–Staunton). The exact endpoint for this panel is linked below.

How often is it updated?

Daily-tier datasets refresh after the U.S. market close, with a broader weekly refresh on Sunday. The timestamp shown on this page comes from the JSON payload.

Can I use the data?

Yes, for research and education with attribution to History of Market. Upstream data sources retain their own terms.