AMBA vs. XES

Last updated Jul 21, 2026

AMBA (Ambarella, Inc.) is a stock, while XES (SPDR S&P Oil & Gas Equipment & Services ETF) is Energy Equities fund tracking the S&P Oil & Gas Equipment & Services Select Industry Index. Over the past 10 years, AMBA returned 1.60%/yr vs -3.55%/yr for XES. At a 0.30 correlation, their price movements are largely independent.

Performance

AMBA vs. XES - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ambarella, Inc. (AMBA) and SPDR S&P Oil & Gas Equipment & Services ETF (XES). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AMBA achieves a -7.26% return, which is significantly lower than XES's 36.58% return. Over the past 10 years, AMBA has outperformed XES with an annualized return of 1.60%, while XES has yielded a comparatively lower -3.55% annualized return.

AMBA

• 1D: 6.24%
• 1M: -6.10%
• 6M: -4.41%
• YTD: -7.26%
• 1Y: -5.30%
• 3Y*: -5.98%
• 5Y*: -7.28%
• 10Y*: 1.60%
• ALL TIME*: 18.01%

XES

• 1D: -0.88%
• 1M: -1.66%
• 6M: 21.81%
• YTD: 36.58%
• 1Y: 76.01%
• 3Y*: 8.98%
• 5Y*: 16.35%
• 10Y*: -3.55%
• ALL TIME*: -3.56%

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

AMBA vs. XES - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AMBA Ambarella, Inc.	-7.26%	-2.61%	18.68%	-25.47%	-59.47%	120.96%	51.62%	73.13%	-40.46%	8.54%
XES SPDR S&P Oil & Gas Equipment & Services ETF	36.58%	5.89%	-5.44%	6.68%	62.03%	12.00%	-43.38%	-9.00%	-46.99%	-21.93%

Correlation

The correlation between AMBA and XES is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (5Y) Calculated over the trailing 5-year period	0.31
Correlation (10Y) Calculated over the trailing 10-year period	0.32
Correlation (All Time) Calculated using the full available price history since Oct 10, 2012	0.30

Return for Risk

AMBA vs. XES — Risk / Return Rank

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

AMBA

AMBA Risk / Return Rank: 43
AMBA Sharpe Ratio Rank: 42
AMBA Sortino Ratio Rank: 45
AMBA Omega Ratio Rank: 46
AMBA Calmar Ratio Rank: 42
AMBA Martin Ratio Rank: 42

XES

XES Risk / Return Rank: 88
XES Sharpe Ratio Rank: 92
XES Sortino Ratio Rank: 88
XES Omega Ratio Rank: 86
XES Calmar Ratio Rank: 87
XES Martin Ratio Rank: 84

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.

AMBA vs. XES - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ambarella, Inc. (AMBA) and SPDR S&P Oil & Gas Equipment & Services ETF (XES). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AMBA	XES	Difference
Sharpe ratio: Return per unit of total volatility	-0.07	2.50	-2.57
Sortino ratio: Return per unit of downside risk	0.42	3.12	-2.70
Omega ratio: Gain probability vs. loss probability	1.06	1.39	-0.33
Calmar ratio: Return relative to maximum drawdown	-0.11	3.69	-3.80
Martin ratio: Return relative to average drawdown	-0.21	12.53	-12.74

AMBA vs. XES - Sharpe Ratio Comparison

The current AMBA Sharpe Ratio is -0.07, which is lower than the XES Sharpe Ratio of 2.50. The chart below compares the historical Sharpe Ratios of AMBA and XES, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AMBA vs. XES - Drawdown Comparison

The maximum AMBA drawdown since its inception was -81.65%, smaller than the maximum XES drawdown of -95.65%. Use the drawdown chart below to compare losses from any high point for AMBA and XES.

Drawdown Indicators

	AMBA	XES	Difference
Max Drawdown Largest peak-to-trough decline	-81.65%	-95.65%	+14.00%
Max Drawdown (1Y) Largest decline over 1 year	-49.06%	-20.69%	-28.37%
Max Drawdown (3Y) Largest decline over 3 years	-52.64%	-45.95%	-6.69%
Max Drawdown (5Y) Largest decline over 5 years	-81.65%	-45.95%	-35.70%
Max Drawdown (10Y) Largest decline over 10 years	-81.65%	-91.23%	+9.58%
Current Drawdown Current decline from peak	-69.70%	-73.62%	+3.92%
Average Drawdown Average peak-to-trough decline	-48.55%	-54.46%	+5.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.03%	6.09%	+18.94%

Volatility

AMBA vs. XES - Volatility Comparison

Ambarella, Inc. (AMBA) has a higher volatility of 36.87% compared to SPDR S&P Oil & Gas Equipment & Services ETF (XES) at 8.59%. This indicates that AMBA's price experiences larger fluctuations and is considered to be riskier than XES based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMBA	XES	Difference
Volatility (1M) Calculated over the trailing 1-month period	36.87%	8.59%	+28.28%
Volatility (6M) Calculated over the trailing 6-month period	58.50%	21.22%	+37.28%
Volatility (1Y) Calculated over the trailing 1-year period	73.91%	30.63%	+43.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	65.35%	38.69%	+26.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	58.03%	44.85%	+13.18%

Dividends

AMBA vs. XES - Dividend Comparison

AMBA has not paid dividends to shareholders, while XES's dividend yield for the trailing twelve months is around 1.17%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMBA Ambarella, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XES SPDR S&P Oil & Gas Equipment & Services ETF	1.17%	1.69%	1.31%	0.66%	0.36%	1.81%	1.33%	1.43%	1.14%	1.68%	0.64%	2.47%

Frequently Asked Questions

Can I hold both AMBA and XES in my portfolio?

AMBA and XES have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AMBA or XES?

AMBA has higher volatility (36.87%) compared to XES (8.59%). In terms of maximum drawdown, AMBA dropped -81.65% vs XES's -95.65%.

Which has better risk-adjusted returns?

XES currently has the higher Sharpe Ratio (2.50 vs -0.07), 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.