EMTL vs. XLE

Last updated Jun 4, 2026

EMTL (SPDR DoubleLine Emerging Markets Fixed Income ETF) and XLE (State Street Energy Select Sector SPDR ETF) are both exchange-traded funds - EMTL is a Emerging Markets Bonds fund actively managed by State Street, while XLE is a Energy Equities fund tracking the Energy Select Sector Index. EMTL is actively managed, while XLE is passively managed. Over the past 10 years, EMTL returned 3.38%/yr vs 10.22%/yr for XLE. At a 0.05 correlation, their price movements are largely independent. EMTL charges 0.65%/yr vs 0.08%/yr for XLE.

Performance

EMTL vs. XLE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR DoubleLine Emerging Markets Fixed Income ETF (EMTL) 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, EMTL achieves a 0.74% return, which is significantly lower than XLE's 32.17% return. Over the past 10 years, EMTL has underperformed XLE with an annualized return of 3.38%, while XLE has yielded a comparatively higher 10.22% annualized return.

EMTL

• 1D: -0.09%
• 1M: 0.49%
• YTD: 0.74%
• 6M: 0.89%
• 1Y: 5.61%
• 3Y*: 7.09%
• 5Y*: 1.79%
• 10Y*: 3.38%

XLE

• 1D: 1.29%
• 1M: -1.14%
• YTD: 32.17%
• 6M: 29.80%
• 1Y: 45.00%
• 3Y*: 17.46%
• 5Y*: 20.44%
• 10Y*: 10.22%

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

EMTL vs. XLE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EMTL SPDR DoubleLine Emerging Markets Fixed Income ETF	0.74%	8.27%	5.86%	9.60%	-14.31%	0.56%	3.48%	11.99%	-2.37%	7.59%
XLE State Street Energy Select Sector SPDR ETF	32.17%	7.88%	5.56%	-0.63%	64.32%	53.28%	-32.67%	11.74%	-18.22%	-0.89%

Correlation

The correlation between EMTL and XLE is -0.16, 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	-0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.08
Correlation (5Y) Calculated over the trailing 5-year period	0.05
Correlation (10Y) Calculated over the trailing 10-year period	0.05
Correlation (All Time) Calculated using the full available price history since Apr 15, 2016	0.05

The correlation between EMTL and XLE shifts across timeframes, from -0.16 (1 year) to 0.08 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

EMTL vs. XLE — Risk / Return Rank

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

EMTL

EMTL Risk / Return Rank: 72
EMTL Sharpe Ratio Rank: 78
EMTL Sortino Ratio Rank: 84
EMTL Omega Ratio Rank: 84
EMTL Calmar Ratio Rank: 57
EMTL Martin Ratio Rank: 58

XLE

XLE Risk / Return Rank: 63
XLE Sharpe Ratio Rank: 65
XLE Sortino Ratio Rank: 59
XLE Omega Ratio Rank: 56
XLE Calmar Ratio Rank: 73
XLE Martin Ratio Rank: 60

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.

EMTL vs. XLE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR DoubleLine Emerging Markets Fixed Income ETF (EMTL) 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.

	EMTL	XLE	Difference
Sharpe ratio Return per unit of total volatility	2.54	2.21	+0.33
Sortino ratio Return per unit of downside risk	3.76	2.84	+0.92
Omega ratio Gain probability vs. loss probability	1.51	1.35	+0.16
Calmar ratio Return relative to maximum drawdown	2.82	3.75	-0.94
Martin ratio Return relative to average drawdown	10.06	10.92	-0.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMTL vs. XLE - Sharpe Ratio Comparison

The current EMTL Sharpe Ratio is 2.54, which is comparable to the XLE Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of EMTL 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.

Sharpe Ratios by Period

	EMTL	XLE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.54	2.21	+0.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.37	0.79	-0.42
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.73	0.35	+0.38
Sharpe Ratio (All Time) Calculated using the full available price history	0.74	0.31	+0.43

Drawdowns

EMTL vs. XLE - Drawdown Comparison

The maximum EMTL drawdown since its inception was -22.91%, smaller than the maximum XLE drawdown of -71.26%. Use the drawdown chart below to compare losses from any high point for EMTL and XLE.

Drawdown Indicators

	EMTL	XLE	Difference
Max Drawdown Largest peak-to-trough decline	-22.91%	-71.26%	+48.35%
Max Drawdown (1Y) Largest decline over 1 year	-2.00%	-12.05%	+10.05%
Max Drawdown (3Y) Largest decline over 3 years	-3.79%	-20.14%	+16.35%
Max Drawdown (5Y) Largest decline over 5 years	-22.91%	-26.04%	+3.13%
Max Drawdown (10Y) Largest decline over 10 years	-22.91%	-66.81%	+43.90%
Current Drawdown Current decline from peak	-0.09%	-6.15%	+6.06%
Average Drawdown Average peak-to-trough decline	-3.83%	-17.98%	+14.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.56%	4.14%	-3.58%

Volatility

EMTL vs. XLE - Volatility Comparison

The current volatility for SPDR DoubleLine Emerging Markets Fixed Income ETF (EMTL) is 0.67%, while State Street Energy Select Sector SPDR ETF (XLE) has a volatility of 8.25%. This indicates that EMTL experiences smaller price fluctuations and is considered to be less risky than XLE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMTL	XLE	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.67%	8.25%	-7.58%
Volatility (6M) Calculated over the trailing 6-month period	1.65%	16.58%	-14.93%
Volatility (1Y) Calculated over the trailing 1-year period	2.22%	20.53%	-18.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.88%	26.02%	-21.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.67%	29.59%	-24.92%

EMTL vs. XLE - Expense Ratio Comparison

EMTL has a 0.65% expense ratio, which is higher than XLE's 0.08% expense ratio.

Dividends

EMTL vs. XLE - Dividend Comparison

EMTL's dividend yield for the trailing twelve months is around 4.95%, more than XLE's 2.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EMTL SPDR DoubleLine Emerging Markets Fixed Income ETF	4.95%	5.09%	5.34%	4.78%	4.19%	5.43%	3.28%	3.96%	3.35%	4.16%	8.87%	0.00%
XLE State Street Energy Select Sector SPDR ETF	2.54%	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 EMTL and XLE in my portfolio?

EMTL and XLE have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EMTL or XLE?

XLE has higher volatility (8.25%) compared to EMTL (0.67%). In terms of maximum drawdown, EMTL dropped -22.91% vs XLE's -71.26%.

Which ETF is better, EMTL or XLE?

On 10-year performance, XLE leads with 10.22% vs 3.38% for EMTL. On fees, XLE is cheaper at 0.08% per year. On volatility, EMTL has been the lower-risk option at 0.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EMTL or XLE?

Over the 10-year period, XLE has performed better with a 10.22% return vs 3.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EMTL or XLE?

XLE is cheaper with a 0.08% expense ratio, compared with 0.65% for EMTL.

Which ETF pays a higher dividend yield, EMTL or XLE?

EMTL has the higher dividend yield at 4.95%, compared with 2.54% for XLE.

What is the main difference between EMTL and XLE?

EMTL is categorized as Emerging Markets Bonds, while XLE is Energy Equities. Their fees differ too: 0.65% for EMTL and 0.08% for XLE.

Which has better risk-adjusted returns?

EMTL currently has the higher Sharpe Ratio (2.54 vs 2.21), 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.