DRIP vs. XLE
DRIP (Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares) and XLE (State Street Energy Select Sector SPDR ETF) are both exchange-traded funds - DRIP is a Leveraged Equities fund tracking the S&P Oil & Gas Exploration & Production Select Industry Index (-300%), while XLE is a Energy Equities fund tracking the Energy Select Sector Index. Both are passively managed. Over the past 10 years, DRIP returned -42.27%/yr vs 9.42%/yr for XLE. At a correlation of -0.90, they often move in opposite directions. DRIP charges 1.07%/yr vs 0.08%/yr for XLE.
Performance
DRIP vs. XLE - Performance Comparison
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Returns By Period
In the year-to-date period, DRIP achieves a -48.08% return, which is significantly lower than XLE's 28.66% return. Over the past 10 years, DRIP has underperformed XLE with an annualized return of -42.27%, while XLE has yielded a comparatively higher 9.42% annualized return.
DRIP
- 1D
- -8.32%
- 1M
- -1.64%
- 6M
- -46.66%
- YTD
- -48.08%
- 1Y
- -45.69%
- 3Y*
- -27.37%
- 5Y*
- -42.71%
- 10Y*
- -42.27%
XLE
- 1D
- 3.01%
- 1M
- -0.70%
- 6M
- 24.13%
- YTD
- 28.66%
- 1Y
- 31.29%
- 3Y*
- 15.32%
- 5Y*
- 21.79%
- 10Y*
- 9.42%
DRIP vs. XLE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | -48.08% | -14.81% | 1.27% | -17.24% | -73.57% | -79.74% | -42.76% | -36.11% | 49.62% | -9.05% |
XLE State Street Energy Select Sector SPDR ETF | 28.66% | 7.88% | 5.56% | -0.63% | 64.32% | 53.28% | -32.67% | 11.74% | -18.22% | -0.89% |
Correlation
The correlation between DRIP and XLE is -0.89, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.89 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.92 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.90 |
Correlation (All Time) Calculated using the full available price history since May 29, 2015 | -0.90 |
The correlation between DRIP and XLE has been stable across timeframes, ranging from -0.92 to -0.89 - a consistent structural relationship.
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Return for Risk
DRIP vs. XLE — Risk / Return Rank
DRIP
XLE
DRIP vs. XLE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) 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.
| DRIP | XLE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.30 | ||
| Sortino ratioReturn per unit of downside risk | -3.18 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 1.25 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | -0.74 | 2.10 | -2.84 |
| Martin ratioReturn relative to average drawdown | -1.29 | 5.70 | -6.99 |
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Drawdowns
DRIP vs. XLE - Drawdown Comparison
The maximum DRIP drawdown since its inception was -99.95%, which is greater than XLE's maximum drawdown of -71.26%. Use the drawdown chart below to compare losses from any high point for DRIP and XLE.
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Drawdown Indicators
| DRIP | XLE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.95% | -71.26% | -28.69% |
Max Drawdown (1Y)Largest decline over 1 year | -62.18% | -14.98% | -47.20% |
Max Drawdown (3Y)Largest decline over 3 years | -76.02% | -20.14% | -55.88% |
Max Drawdown (5Y)Largest decline over 5 years | -96.24% | -26.04% | -70.20% |
Max Drawdown (10Y)Largest decline over 10 years | -99.92% | -66.81% | -33.11% |
Current DrawdownCurrent decline from peak | -99.94% | -8.65% | -91.29% |
Average DrawdownAverage peak-to-trough decline | -90.51% | -17.95% | -72.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.50% | 5.53% | +29.97% |
Volatility
DRIP vs. XLE - Volatility Comparison
Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) has a higher volatility of 17.28% compared to State Street Energy Select Sector SPDR ETF (XLE) at 7.32%. This indicates that DRIP'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.
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Volatility by Period
| DRIP | XLE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.28% | 7.32% | +9.96% |
Volatility (6M)Calculated over the trailing 6-month period | 44.06% | 16.68% | +27.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.84% | 21.06% | +35.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.18% | 25.95% | +42.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.90% | 29.58% | +66.32% |
DRIP vs. XLE - Expense Ratio Comparison
DRIP has a 1.07% expense ratio, which is higher than XLE's 0.08% expense ratio.
Dividends
DRIP vs. XLE - Dividend Comparison
DRIP's dividend yield for the trailing twelve months is around 3.42%, more than XLE's 2.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | 3.42% | 2.86% | 4.38% | 5.09% | 0.00% | 0.00% | 0.01% | 0.96% | 0.58% | 0.00% | 0.00% | 0.00% |
XLE State Street Energy Select Sector SPDR ETF | 2.67% | 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
DRIP and XLE have a correlation of -0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DRIP has higher volatility (17.28%) compared to XLE (7.32%). In terms of maximum drawdown, DRIP dropped -99.95% vs XLE's -71.26%.
On 10-year performance, XLE leads with 9.42% vs -42.27% for DRIP. On fees, XLE is cheaper at 0.08% per year. On volatility, XLE has been the lower-risk option at 7.32%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, XLE has performed better with a 9.42% return vs -42.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XLE is cheaper with a 0.08% expense ratio, compared with 1.07% for DRIP.
DRIP has the higher dividend yield at 3.42%, compared with 2.67% for XLE.
DRIP is categorized as Leveraged Equities, while XLE is Energy Equities. DRIP tracks S&P Oil & Gas Exploration & Production Select Industry Index (-300%), while XLE tracks Energy Select Sector Index. They also come from different issuers: Direxion and State Street. Their fees differ too: 1.07% for DRIP and 0.08% for XLE.
XLE currently has the higher Sharpe Ratio (1.50 vs -0.81), 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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