ACES vs. XOP

Last updated Jun 3, 2026

ACES (ALPS Clean Energy ETF) and XOP (SPDR S&P Oil & Gas Exploration & Production ETF) are both exchange-traded funds - ACES is a Alternative Energy Equities fund tracking the CIBC Atlas Clean Energy Index, while XOP is a Energy Equities fund tracking the S&P Oil & Gas Exploration & Production Select Industry. Both are passively managed. Over the past 5 years, ACES returned -8.07%/yr vs 14.54%/yr for XOP. At a 0.37 correlation, their price movements are largely independent. ACES charges 0.55%/yr vs 0.35%/yr for XOP.

Performance

ACES vs. XOP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ALPS Clean Energy ETF (ACES) and SPDR S&P Oil & Gas Exploration & Production ETF (XOP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ACES achieves a 32.49% return, which is significantly lower than XOP's 34.27% return.

ACES

• 1D: 2.95%
• 1M: 20.25%
• YTD: 32.49%
• 6M: 32.78%
• 1Y: 80.47%
• 3Y*: -0.25%
• 5Y*: -8.07%
• 10Y*: —

XOP

• 1D: 0.58%
• 1M: -4.43%
• YTD: 34.27%
• 6M: 28.35%
• 1Y: 42.75%
• 3Y*: 13.59%
• 5Y*: 14.54%
• 10Y*: 3.66%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ACES vs. XOP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
ACES ALPS Clean Energy ETF	32.49%	25.44%	-26.71%	-20.04%	-28.44%	-19.44%	140.33%	51.70%	-9.63%
XOP SPDR S&P Oil & Gas Exploration & Production ETF	34.27%	-2.15%	-1.00%	3.56%	45.37%	66.74%	-36.40%	-9.44%	-38.14%

Correlation

The correlation between ACES and XOP is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.06
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (All Time) Calculated using the full available price history since Jul 2, 2018	0.37

Over the past year, the correlation between ACES and XOP has dropped to 0.06 - well below their long-term average of 0.37, suggesting their price drivers have been diverging.

ACES vs. XOP - Sectors Allocation Comparison

Sectors	ACES	XOP
Utilities	25.5%	-
Technology	24.8%	-
Industrials	20.3%	-
Consumer Cyclical	11.1%	-
Basic Materials	9.3%	2.9%
Financial Services	5.3%	-
Consumer Defensive	3.2%	-
Energy	0.5%	97.2%
Communication Services	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

ACES vs. XOP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ACES

ACES Risk / Return Rank: 69
ACES Sharpe Ratio Rank: 76
ACES Sortino Ratio Rank: 66
ACES Omega Ratio Rank: 60
ACES Calmar Ratio Rank: 83
ACES Martin Ratio Rank: 62

XOP

XOP Risk / Return Rank: 45
XOP Sharpe Ratio Rank: 44
XOP Sortino Ratio Rank: 40
XOP Omega Ratio Rank: 38
XOP Calmar Ratio Rank: 59
XOP Martin Ratio Rank: 46

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ACES vs. XOP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ALPS Clean Energy ETF (ACES) and SPDR S&P Oil & Gas Exploration & Production ETF (XOP). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ACES	XOP	Difference
Sharpe ratio Return per unit of total volatility	2.51	1.55	+0.96
Sortino ratio Return per unit of downside risk	3.09	2.03	+1.05
Omega ratio Gain probability vs. loss probability	1.37	1.25	+0.12
Calmar ratio Return relative to maximum drawdown	4.47	2.95	+1.53
Martin ratio Return relative to average drawdown	11.30	7.60	+3.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ACES vs. XOP - Sharpe Ratio Comparison

The current ACES Sharpe Ratio is 2.51, which is higher than the XOP Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of ACES and XOP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ACES	XOP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.51	1.55	+0.96
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.22	0.43	-0.66
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.09	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.06	+0.17

Drawdowns

ACES vs. XOP - Drawdown Comparison

The maximum ACES drawdown since its inception was -79.05%, smaller than the maximum XOP drawdown of -90.27%. Use the drawdown chart below to compare losses from any high point for ACES and XOP.

Drawdown Indicators

	ACES	XOP	Difference
Max Drawdown Largest peak-to-trough decline	-79.05%	-90.27%	+11.22%
Max Drawdown (1Y) Largest decline over 1 year	-17.44%	-15.14%	-2.30%
Max Drawdown (3Y) Largest decline over 3 years	-58.68%	-34.98%	-23.70%
Max Drawdown (5Y) Largest decline over 5 years	-74.44%	-34.98%	-39.46%
Max Drawdown (10Y) Largest decline over 10 years	—	-82.61%	—
Current Drawdown Current decline from peak	-55.14%	-37.24%	-17.90%
Average Drawdown Average peak-to-trough decline	-38.86%	-42.59%	+3.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.91%	5.87%	+1.04%

Volatility

ACES vs. XOP - Volatility Comparison

The current volatility for ALPS Clean Energy ETF (ACES) is 9.41%, while SPDR S&P Oil & Gas Exploration & Production ETF (XOP) has a volatility of 10.26%. This indicates that ACES experiences smaller price fluctuations and is considered to be less risky than XOP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ACES	XOP	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.41%	10.26%	-0.85%
Volatility (6M) Calculated over the trailing 6-month period	22.55%	21.61%	+0.94%
Volatility (1Y) Calculated over the trailing 1-year period	32.32%	27.80%	+4.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.15%	33.88%	+2.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.58%	40.29%	-4.71%

ACES vs. XOP - Expense Ratio Comparison

ACES has a 0.55% expense ratio, which is higher than XOP's 0.35% expense ratio.

Dividends

ACES vs. XOP - Dividend Comparison

ACES's dividend yield for the trailing twelve months is around 0.53%, less than XOP's 1.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ACES ALPS Clean Energy ETF	0.53%	0.70%	1.10%	1.44%	1.08%	0.71%	0.56%	1.79%	0.34%	0.00%	0.00%	0.00%
XOP SPDR S&P Oil & Gas Exploration & Production ETF	1.93%	2.62%	2.45%	2.63%	2.47%	1.61%	2.34%	1.47%	0.99%	0.76%	0.76%	2.21%

Frequently Asked Questions

Can I hold both ACES and XOP in my portfolio?

ACES and XOP have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ACES or XOP?

XOP has higher volatility (10.26%) compared to ACES (9.41%). In terms of maximum drawdown, ACES dropped -79.05% vs XOP's -90.27%.

Which ETF is better, ACES or XOP?

On 5-year performance, XOP leads with 14.54% vs -8.07% for ACES. On fees, XOP is cheaper at 0.35% per year. On volatility, ACES has been the lower-risk option at 9.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ACES or XOP?

Over the 5-year period, XOP has performed better with a 14.54% return vs -8.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ACES or XOP?

XOP is cheaper with a 0.35% expense ratio, compared with 0.55% for ACES.

Which ETF pays a higher dividend yield, ACES or XOP?

XOP has the higher dividend yield at 1.93%, compared with 0.53% for ACES.

What is the main difference between ACES and XOP?

ACES is categorized as Alternative Energy Equities, while XOP is Energy Equities. ACES tracks CIBC Atlas Clean Energy Index, while XOP tracks S&P Oil & Gas Exploration & Production Select Industry. They also come from different issuers: SS&C and State Street. Their fees differ too: 0.55% for ACES and 0.35% for XOP.

Which has better risk-adjusted returns?

ACES currently has the higher Sharpe Ratio (2.51 vs 1.55), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.