BBAI vs. XLE

Last updated Aug 5, 2026

BBAI (BigBear.ai Holdings, Inc.) is a stock, while XLE (State Street Energy Select Sector SPDR ETF) is Energy Equities fund tracking the Energy Select Sector Index. Over the past 3 years, BBAI returned 16.16%/yr vs 14.02%/yr for XLE. Their 0.07 correlation means their historical movements had little consistent relationship.

Performance

BBAI vs. XLE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BigBear.ai Holdings, Inc. (BBAI) and State Street Energy Select Sector SPDR ETF (XLE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BBAI achieves a -41.67% return, which is significantly lower than XLE's 32.69% return.

BBAI

• 1D: 10.14%
• 1M: -10.76%
• 6M: -36.36%
• YTD: -41.67%
• 1Y: -55.57%
• 3Y*: 16.16%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -17.90%

XLE

• 1D: -0.46%
• 1M: 9.96%
• 6M: 14.82%
• YTD: 32.69%
• 1Y: 41.32%
• 3Y*: 14.02%
• 5Y*: 23.40%
• 10Y*: 10.03%
• ALL TIME*: 8.80%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BBAI BigBear.ai Holdings, Inc.	$78.97M	$80.02M	$140.77M
XLE State Street Energy Select Sector SPDR ETF	$1.80B	$1.75B	$1.95B

BBAI vs. XLE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BBAI BigBear.ai Holdings, Inc.	-41.67%	21.35%	107.94%	217.65%	-88.10%	-27.90%
XLE State Street Energy Select Sector SPDR ETF	32.69%	7.88%	5.56%	-0.63%	64.32%	1.29%

Correlation

The correlation between BBAI and XLE is -0.01, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.01
Correlation (3Y) Balances recent behavior with more history.	0.09
Correlation (All Time) Calculated using the full available price history since Dec 17, 2021	0.07

The correlation between BBAI and XLE shifts across timeframes, from -0.01 (1 year) to 0.09 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

BBAI vs. XLE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BBAI

BBAI Risk / Return Rank: 14
BBAI Sharpe Ratio Rank: 14
BBAI Sortino Ratio Rank: 14
BBAI Omega Ratio Rank: 17
BBAI Calmar Ratio Rank: 12
BBAI Martin Ratio Rank: 12

XLE

XLE Risk / Return Rank: 69
XLE Sharpe Ratio Rank: 77
XLE Sortino Ratio Rank: 71
XLE Omega Ratio Rank: 68
XLE Calmar Ratio Rank: 71
XLE Martin Ratio Rank: 56

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BBAI vs. XLE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BigBear.ai Holdings, Inc. (BBAI) and State Street Energy Select Sector SPDR ETF (XLE). 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.

	BBAI	XLE	Difference
Sharpe ratio: Return per unit of total volatility	-0.65	1.98	-2.62
Sortino ratio: Return per unit of downside risk	-0.81	2.56	-3.37
Omega ratio: Gain probability vs. loss probability	0.92	1.32	-0.40
Calmar ratio: Return relative to maximum drawdown	-0.79	2.77	-3.56
Martin ratio: Return relative to average drawdown	-1.24	7.38	-8.61

BBAI vs. XLE - Sharpe Ratio Comparison

The current BBAI Sharpe Ratio is -0.65, which is lower than the XLE Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of BBAI and XLE, 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

BBAI vs. XLE - Drawdown Comparison

The maximum BBAI drawdown since its inception was -95.01%, which is greater than XLE's maximum drawdown of -71.26%. Use the drawdown chart below to compare losses from any high point for BBAI and XLE.

Drawdown Indicators

	BBAI	XLE	Difference
Max Drawdown Largest peak-to-trough decline	-95.01%	-71.26%	-23.75%
Max Drawdown (1Y) Largest decline over 1 year	-70.93%	-14.98%	-55.95%
Max Drawdown (3Y) Largest decline over 3 years	-75.56%	-20.14%	-55.42%
Max Drawdown (5Y) Largest decline over 5 years	—	-26.04%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-66.81%	—
Current Drawdown Current decline from peak	-75.18%	-5.78%	-69.40%
Average Drawdown Average peak-to-trough decline	-70.90%	-17.93%	-52.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	44.94%	5.62%	+39.32%

Volatility

BBAI vs. XLE - Volatility Comparison

BigBear.ai Holdings, Inc. (BBAI) has a higher volatility of 20.14% compared to State Street Energy Select Sector SPDR ETF (XLE) at 6.17%. This indicates that BBAI's price experiences larger fluctuations and is considered to be riskier than XLE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BBAI	XLE	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.14%	6.17%	+13.97%
Volatility (6M) Calculated over the trailing 6-month period	53.73%	16.62%	+37.11%
Volatility (1Y) Calculated over the trailing 1-year period	86.91%	21.00%	+65.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	172.32%	25.74%	+146.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	172.32%	29.57%	+142.75%

Dividends

BBAI vs. XLE - Dividend Comparison

BBAI has not paid dividends to shareholders, while XLE's dividend yield for the trailing twelve months is around 2.59%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BBAI BigBear.ai Holdings, 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%
XLE State Street Energy Select Sector SPDR ETF	2.59%	3.28%	3.36%	3.55%	3.68%	4.21%	5.62%	6.72%	3.54%	3.03%	2.26%	3.39%

Frequently Asked Questions

Can I hold both BBAI and XLE in my portfolio?

BBAI and XLE have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BBAI or XLE?

BBAI has higher volatility (20.14%) compared to XLE (6.17%). In terms of maximum drawdown, BBAI dropped -95.01% vs XLE's -71.26%.

Which has better risk-adjusted returns?

XLE currently has the higher Sharpe Ratio (1.98 vs -0.65), 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.