FTMA vs. XOP
FTMA (Franklin Massachusetts Municipal Income ETF) and XOP (SPDR S&P Oil & Gas Exploration & Production ETF) are both exchange-traded funds - FTMA is a Municipal Bonds fund tracking the Actively Managed, while XOP is a Energy Equities fund tracking the S&P Oil & Gas Exploration & Production Select Industry. Both are passively managed. At a correlation of -0.35, they often move in opposite directions. Both charge a 0.35% expense ratio.
Performance
FTMA vs. XOP - Performance Comparison
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Returns By Period
In the year-to-date period, FTMA achieves a 2.28% return, which is significantly lower than XOP's 23.89% return.
FTMA
- 1D
- 0.00%
- 1M
- 1.47%
- YTD
- 2.28%
- 6M
- 2.62%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XOP
- 1D
- 0.09%
- 1M
- -9.39%
- YTD
- 23.89%
- 6M
- 23.68%
- 1Y
- 23.02%
- 3Y*
- 11.00%
- 5Y*
- 12.14%
- 10Y*
- 3.09%
FTMA vs. XOP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FTMA Franklin Massachusetts Municipal Income ETF | 2.28% | 0.54% |
XOP SPDR S&P Oil & Gas Exploration & Production ETF | 23.89% | -1.77% |
Correlation
The correlation between FTMA and XOP is -0.35, 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 (All Time) Calculated using the full available price history since Nov 10, 2025 | -0.35 |
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Return for Risk
FTMA vs. XOP — Risk / Return Rank
FTMA
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
XOP
FTMA vs. XOP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Massachusetts Municipal Income ETF (FTMA) 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.
| FTMA | XOP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.15 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.25 | — |
| Martin ratioReturn relative to average drawdown | — | 3.50 | — |
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Drawdowns
FTMA vs. XOP - Drawdown Comparison
The maximum FTMA drawdown since its inception was -2.27%, smaller than the maximum XOP drawdown of -90.27%. Use the drawdown chart below to compare losses from any high point for FTMA and XOP.
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Drawdown Indicators
| FTMA | XOP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.27% | -90.27% | +88.00% |
Max Drawdown (1Y)Largest decline over 1 year | — | -18.50% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -34.98% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -34.98% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -82.61% | — |
Current DrawdownCurrent decline from peak | 0.00% | -42.09% | +42.09% |
Average DrawdownAverage peak-to-trough decline | -0.47% | -42.58% | +42.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 6.60% | — |
Volatility
FTMA vs. XOP - Volatility Comparison
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Volatility by Period
| FTMA | XOP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 9.01% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 21.96% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.39% | 28.30% | -24.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.39% | 33.88% | -30.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.39% | 40.25% | -36.86% |
FTMA vs. XOP - Expense Ratio Comparison
Both FTMA and XOP have an expense ratio of 0.35%.
Dividends
FTMA vs. XOP - Dividend Comparison
FTMA's dividend yield for the trailing twelve months is around 1.95%, less than XOP's 2.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTMA Franklin Massachusetts Municipal Income ETF | 1.95% | 0.54% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XOP SPDR S&P Oil & Gas Exploration & Production ETF | 2.10% | 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
FTMA and XOP have a correlation of -0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.35% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
FTMA and XOP have the same expense ratio: 0.35% per year.
XOP has the higher dividend yield at 2.10%, compared with 1.95% for FTMA.
FTMA is categorized as Municipal Bonds, while XOP is Energy Equities. FTMA tracks Actively Managed, while XOP tracks S&P Oil & Gas Exploration & Production Select Industry. They also come from different issuers: Franklin Templeton and State Street.
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