DRLL vs. XOP

Last updated Jun 4, 2026

DRLL (Strive U.S. Energy ETF) and XOP (SPDR S&P Oil & Gas Exploration & Production ETF) are both Energy Equities funds - DRLL tracks the Bloomberg US Energy Select Index while XOP tracks the S&P Oil & Gas Exploration & Production Select Industry. Both are passively managed. Over the past 3 years, DRLL returned 14.67%/yr vs 14.10%/yr for XOP. Their correlation of 0.93 suggests significant overlap in exposure. DRLL charges 0.41%/yr vs 0.35%/yr for XOP.

Performance

DRLL vs. XOP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Strive U.S. Energy ETF (DRLL) 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, DRLL achieves a 31.26% return, which is significantly lower than XOP's 36.08% return.

DRLL

• 1D: 1.47%
• 1M: -1.82%
• YTD: 31.26%
• 6M: 27.14%
• 1Y: 43.09%
• 3Y*: 14.67%
• 5Y*: —
• 10Y*: —

XOP

• 1D: 1.35%
• 1M: -5.46%
• YTD: 36.08%
• 6M: 26.81%
• 1Y: 41.73%
• 3Y*: 14.10%
• 5Y*: 14.86%
• 10Y*: 3.80%

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

DRLL vs. XOP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DRLL Strive U.S. Energy ETF	31.26%	7.74%	0.02%	-1.84%	16.56%
XOP SPDR S&P Oil & Gas Exploration & Production ETF	36.08%	-2.15%	-1.00%	3.56%	5.27%

Correlation

The correlation between DRLL and XOP is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (All Time) Calculated using the full available price history since Aug 10, 2022	0.93

The correlation between DRLL and XOP has been stable across timeframes, ranging from 0.92 to 0.93 - a consistent structural relationship.

DRLL vs. XOP - Sectors Allocation Comparison

Sectors	DRLL	XOP
Energy	99.1%	97.2%
Consumer Cyclical	0.9%	-
Basic Materials	-	2.9%
Communication Services	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

DRLL vs. XOP — Risk / Return Rank

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

DRLL

DRLL Risk / Return Rank: 55
DRLL Sharpe Ratio Rank: 57
DRLL Sortino Ratio Rank: 52
DRLL Omega Ratio Rank: 50
DRLL Calmar Ratio Rank: 63
DRLL Martin Ratio Rank: 52

XOP

XOP Risk / Return Rank: 43
XOP Sharpe Ratio Rank: 42
XOP Sortino Ratio Rank: 38
XOP Omega Ratio Rank: 37
XOP Calmar Ratio Rank: 55
XOP Martin Ratio Rank: 43

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.

DRLL vs. XOP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Strive U.S. Energy ETF (DRLL) 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.

	DRLL	XOP	Difference
Sharpe ratio: Return per unit of total volatility	1.94	1.51	+0.43
Sortino ratio: Return per unit of downside risk	2.49	2.00	+0.50
Omega ratio: Gain probability vs. loss probability	1.32	1.25	+0.07
Calmar ratio: Return relative to maximum drawdown	3.11	2.77	+0.34
Martin ratio: Return relative to average drawdown	8.82	7.10	+1.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DRLL vs. XOP - Sharpe Ratio Comparison

The current DRLL Sharpe Ratio is 1.94, which is comparable to the XOP Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of DRLL 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

	DRLL	XOP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.94	1.51	+0.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.44	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.09	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	0.06	+0.51

Drawdowns

DRLL vs. XOP - Drawdown Comparison

The maximum DRLL drawdown since its inception was -23.73%, smaller than the maximum XOP drawdown of -90.27%. Use the drawdown chart below to compare losses from any high point for DRLL and XOP.

Drawdown Indicators

	DRLL	XOP	Difference
Max Drawdown Largest peak-to-trough decline	-23.73%	-90.27%	+66.54%
Max Drawdown (1Y) Largest decline over 1 year	-13.93%	-15.14%	+1.21%
Max Drawdown (3Y) Largest decline over 3 years	-23.73%	-34.98%	+11.25%
Max Drawdown (5Y) Largest decline over 5 years	—	-34.98%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-82.61%	—
Current Drawdown Current decline from peak	-8.10%	-36.40%	+28.30%
Average Drawdown Average peak-to-trough decline	-8.02%	-42.59%	+34.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.90%	5.90%	-1.00%

Volatility

DRLL vs. XOP - Volatility Comparison

The current volatility for Strive U.S. Energy ETF (DRLL) is 9.15%, while SPDR S&P Oil & Gas Exploration & Production ETF (XOP) has a volatility of 10.03%. This indicates that DRLL 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

	DRLL	XOP	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.15%	10.03%	-0.88%
Volatility (6M) Calculated over the trailing 6-month period	18.04%	21.64%	-3.60%
Volatility (1Y) Calculated over the trailing 1-year period	22.34%	27.81%	-5.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.76%	33.88%	-10.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.76%	40.28%	-16.52%

DRLL vs. XOP - Expense Ratio Comparison

DRLL has a 0.41% expense ratio, which is higher than XOP's 0.35% expense ratio.

Dividends

DRLL vs. XOP - Dividend Comparison

DRLL's dividend yield for the trailing twelve months is around 2.33%, more than XOP's 1.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DRLL Strive U.S. Energy ETF	2.33%	2.99%	3.00%	3.01%	1.18%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XOP SPDR S&P Oil & Gas Exploration & Production ETF	1.90%	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 DRLL and XOP in my portfolio?

With a correlation of 0.93, DRLL and XOP move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, DRLL or XOP?

XOP has higher volatility (10.03%) compared to DRLL (9.15%). In terms of maximum drawdown, DRLL dropped -23.73% vs XOP's -90.27%.

Which ETF is better, DRLL or XOP?

On 3-year performance, DRLL leads with 14.67% vs 14.10% for XOP. On fees, XOP is cheaper at 0.35% per year. On volatility, DRLL has been the lower-risk option at 9.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DRLL or XOP?

Over the 3-year period, DRLL has performed better with a 14.67% return vs 14.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DRLL or XOP?

XOP is cheaper with a 0.35% expense ratio, compared with 0.41% for DRLL.

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

DRLL has the higher dividend yield at 2.33%, compared with 1.90% for XOP.

What is the main difference between DRLL and XOP?

DRLL tracks Bloomberg US Energy Select Index, while XOP tracks S&P Oil & Gas Exploration & Production Select Industry. They also come from different issuers: Strive and State Street. Their fees differ too: 0.41% for DRLL and 0.35% for XOP.

Which has better risk-adjusted returns?

DRLL currently has the higher Sharpe Ratio (1.94 vs 1.51), 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.