GXLE.L vs. SXLE.L
GXLE.L (SPDR S&P US Energy Select Sector UCITS ETF) and SXLE.L (State Street SPDR S&P U.S. Energy Select Sector UCITS ETF) are both Energy Equities funds from State Street - GXLE.L tracks the MSCI World/Energy NR USD while SXLE.L tracks the S&P Energy Select Sector Daily Capped 35/20 Index. Both are passively managed. Over the past 3 years, GXLE.L returned 14.18%/yr vs 14.31%/yr for SXLE.L. With a 0.97 correlation, they move nearly in lockstep. Both charge a 0.15% expense ratio.
Performance
GXLE.L vs. SXLE.L - Performance Comparison
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Different Trading Currencies
GXLE.L is traded in GBP, while SXLE.L is traded in USD. To make them comparable, the SXLE.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with GXLE.L having a 30.65% return and SXLE.L slightly higher at 31.04%.
GXLE.L
- 1D
- -0.48%
- 1M
- -0.13%
- YTD
- 30.65%
- 6M
- 28.41%
- 1Y
- 47.66%
- 3Y*
- 14.18%
- 5Y*
- —
- 10Y*
- —
SXLE.L
- 1D
- -0.28%
- 1M
- -0.10%
- YTD
- 31.04%
- 6M
- 28.53%
- 1Y
- 47.78%
- 3Y*
- 14.31%
- 5Y*
- 21.51%
- 10Y*
- 10.40%
GXLE.L vs. SXLE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GXLE.L SPDR S&P US Energy Select Sector UCITS ETF | 30.65% | 2.22% | 5.51% | -5.03% | 26.48% |
SXLE.L State Street SPDR S&P U.S. Energy Select Sector UCITS ETF | 31.04% | 1.92% | 5.56% | -4.41% | 25.82% |
Correlation
The correlation between GXLE.L and SXLE.L is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2022 | 0.97 |
The correlation between GXLE.L and SXLE.L has been stable across timeframes, ranging from 0.97 to 0.97 - a consistent structural relationship.
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Return for Risk
GXLE.L vs. SXLE.L — Risk / Return Rank
GXLE.L
SXLE.L
GXLE.L vs. SXLE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P US Energy Select Sector UCITS ETF (GXLE.L) and State Street SPDR S&P U.S. Energy Select Sector UCITS ETF (SXLE.L). 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.
| GXLE.L | SXLE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.35 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.85 | 2.86 | 0.00 |
| Martin ratioReturn relative to average drawdown | 9.07 | 8.85 | +0.23 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GXLE.L | SXLE.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.00 | 2.06 | -0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.81 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.37 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 0.40 | +0.13 |
Drawdowns
GXLE.L vs. SXLE.L - Drawdown Comparison
The maximum GXLE.L drawdown since its inception was -23.60%, smaller than the maximum SXLE.L drawdown of -62.09%. Use the drawdown chart below to compare losses from any high point for GXLE.L and SXLE.L.
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Drawdown Indicators
| GXLE.L | SXLE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.60% | -62.09% | +38.49% |
Max Drawdown (1Y)Largest decline over 1 year | -16.63% | -16.65% | +0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -23.60% | -23.84% | +0.24% |
Max Drawdown (5Y)Largest decline over 5 years | — | -23.84% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -62.09% | — |
Current DrawdownCurrent decline from peak | -8.95% | -9.06% | +0.11% |
Average DrawdownAverage peak-to-trough decline | -10.77% | -15.52% | +4.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.24% | 5.38% | -0.14% |
Volatility
GXLE.L vs. SXLE.L - Volatility Comparison
SPDR S&P US Energy Select Sector UCITS ETF (GXLE.L) has a higher volatility of 9.27% compared to State Street SPDR S&P U.S. Energy Select Sector UCITS ETF (SXLE.L) at 8.66%. This indicates that GXLE.L's price experiences larger fluctuations and is considered to be riskier than SXLE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GXLE.L | SXLE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.27% | 8.66% | +0.61% |
Volatility (6M)Calculated over the trailing 6-month period | 20.29% | 19.47% | +0.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.82% | 23.18% | +0.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.52% | 26.52% | -1.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.52% | 28.35% | -2.83% |
GXLE.L vs. SXLE.L - Expense Ratio Comparison
Both GXLE.L and SXLE.L have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
GXLE.L vs. SXLE.L - Dividend Comparison
Neither GXLE.L nor SXLE.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.97, GXLE.L and SXLE.L 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.
Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
GXLE.L and SXLE.L have the same expense ratio: 0.15% per year.
GXLE.L tracks MSCI World/Energy NR USD, while SXLE.L tracks S&P Energy Select Sector Daily Capped 35/20 Index.
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