CF vs. XOP
CF (CF Industries Holdings, Inc.) is a stock, while XOP (SPDR S&P Oil & Gas Exploration & Production ETF) is Energy Equities fund tracking the S&P Oil & Gas Exploration & Production Select Industry. Over the past 10 years, CF returned 20.99%/yr vs 5.00%/yr for XOP. Their 0.50 correlation means they have sometimes moved together and sometimes differently.
Performance
CF vs. XOP - Performance Comparison
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Returns By Period
In the year-to-date period, CF achieves a 63.40% return, which is significantly higher than XOP's 41.76% return. Over the past 10 years, CF has outperformed XOP with an annualized return of 20.99%, while XOP has yielded a comparatively lower 5.00% annualized return.
CF
- 1D
- -0.46%
- 1M
- 15.75%
- 6M
- 35.55%
- YTD
- 63.40%
- 1Y
- 37.75%
- 3Y*
- 18.16%
- 5Y*
- 24.12%
- 10Y*
- 20.99%
- ALL TIME*
- 21.21%
XOP
- 1D
- 1.45%
- 1M
- 15.38%
- 6M
- 27.63%
- YTD
- 41.76%
- 1Y
- 41.65%
- 3Y*
- 10.13%
- 5Y*
- 19.29%
- 10Y*
- 5.00%
- ALL TIME*
- 2.68%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $259.19M | $278.77M | $321.72M | |
| $553.31M | $544.38M | $598.08M |
CF vs. XOP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CF CF Industries Holdings, Inc. | 63.40% | -7.17% | 10.08% | -4.75% | 22.29% | 87.18% | -15.76% | 12.73% | 5.13% | 40.24% |
XOP SPDR S&P Oil & Gas Exploration & Production ETF | 41.76% | -2.15% | -1.00% | 3.56% | 45.37% | 66.74% | -36.40% | -9.44% | -28.10% | -9.47% |
Correlation
The correlation between CF and XOP is 0.59, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.59 |
Correlation (3Y) Balances recent behavior with more history. | 0.49 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.51 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.51 |
Correlation (All Time) Calculated using the full available price history since Jun 22, 2006 | 0.50 |
The correlation between CF and XOP has been stable across timeframes, ranging from 0.49 to 0.59 - a consistent structural relationship.
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Return for Risk
CF vs. XOP — Risk / Return Rank
CF
XOP
CF vs. XOP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CF Industries Holdings, Inc. (CF) 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.
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.
| CF | XOP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.57 | ||
| Sortino ratioReturn per unit of downside risk | -0.49 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.24 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.49 | 2.26 | -0.77 |
| Martin ratioReturn relative to average drawdown | 3.31 | 5.48 | -2.17 |
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Drawdowns
CF vs. XOP - Drawdown Comparison
The maximum CF drawdown since its inception was -76.73%, smaller than the maximum XOP drawdown of -90.27%. Use the drawdown chart below to compare losses from any high point for CF and XOP.
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Drawdown Indicators
| CF | XOP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.73% | -90.27% | +13.54% |
Max Drawdown (1Y)Largest decline over 1 year | -25.45% | -18.50% | -6.95% |
Max Drawdown (3Y)Largest decline over 3 years | -29.16% | -34.98% | +5.82% |
Max Drawdown (5Y)Largest decline over 5 years | -48.36% | -34.98% | -13.38% |
Max Drawdown (10Y)Largest decline over 10 years | -60.74% | -82.61% | +21.87% |
Current DrawdownCurrent decline from peak | -8.65% | -33.74% | +25.09% |
Average DrawdownAverage peak-to-trough decline | -24.87% | -42.56% | +17.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.44% | 7.67% | +3.77% |
Volatility
CF vs. XOP - Volatility Comparison
CF Industries Holdings, Inc. (CF) has a higher volatility of 10.07% compared to SPDR S&P Oil & Gas Exploration & Production ETF (XOP) at 8.28%. This indicates that CF's price experiences larger fluctuations and is considered to be riskier than XOP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CF | XOP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.07% | 8.28% | +1.79% |
Volatility (6M)Calculated over the trailing 6-month period | 35.61% | 22.52% | +13.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.03% | 28.49% | +13.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.14% | 33.53% | +4.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.08% | 40.15% | -0.07% |
Dividends
CF vs. XOP - Dividend Comparison
CF's dividend yield for the trailing twelve months is around 1.60%, less than XOP's 1.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CF CF Industries Holdings, Inc. | 1.60% | 2.59% | 2.34% | 2.01% | 1.76% | 1.70% | 3.10% | 2.51% | 2.76% | 2.82% | 3.81% | 2.94% |
XOP SPDR S&P Oil & Gas Exploration & Production ETF | 1.83% | 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
CF and XOP have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CF has higher volatility (10.07%) compared to XOP (8.28%). In terms of maximum drawdown, CF dropped -76.73% vs XOP's -90.27%.
XOP currently has the higher Sharpe Ratio (1.47 vs 0.90), 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.
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