IEO vs. DVXE
IEO (iShares U.S. Oil & Gas Exploration & Production ETF) and DVXE (WEBs Energy XLE Defined Volatility ETF) are both Energy Equities funds - IEO tracks the Dow Jones U.S. Select Oil Exploration & Production Index while DVXE tracks the Syntax Defined Volatility XLE Index. Both are passively managed. Their correlation of 0.92 suggests significant overlap in exposure. IEO charges 0.42%/yr vs 0.89%/yr for DVXE.
Performance
IEO vs. DVXE - Performance Comparison
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Returns By Period
In the year-to-date period, IEO achieves a 34.59% return, which is significantly lower than DVXE's 44.98% return.
IEO
- 1D
- 1.66%
- 1M
- -3.23%
- YTD
- 34.59%
- 6M
- 26.42%
- 1Y
- 40.11%
- 3Y*
- 16.01%
- 5Y*
- 18.96%
- 10Y*
- 10.42%
DVXE
- 1D
- 1.52%
- 1M
- -1.50%
- YTD
- 44.98%
- 6M
- 39.14%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IEO vs. DVXE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IEO iShares U.S. Oil & Gas Exploration & Production ETF | 34.59% | 0.31% |
DVXE WEBs Energy XLE Defined Volatility ETF | 44.98% | 4.49% |
Correlation
The correlation between IEO and DVXE is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jul 24, 2025 | 0.92 |
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Return for Risk
IEO vs. DVXE — Risk / Return Rank
IEO
DVXE
IEO vs. DVXE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Oil & Gas Exploration & Production ETF (IEO) and WEBs Energy XLE Defined Volatility ETF (DVXE). 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.
| IEO | DVXE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.26 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.82 | — | — |
| Martin ratioReturn relative to average drawdown | 7.63 | — | — |
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
| IEO | DVXE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.61 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.62 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.30 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.17 | 1.99 | -1.82 |
Drawdowns
IEO vs. DVXE - Drawdown Comparison
The maximum IEO drawdown since its inception was -79.17%, which is greater than DVXE's maximum drawdown of -17.96%. Use the drawdown chart below to compare losses from any high point for IEO and DVXE.
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Drawdown Indicators
| IEO | DVXE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.17% | -17.96% | -61.21% |
Max Drawdown (1Y)Largest decline over 1 year | -14.30% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -31.46% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -31.46% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -75.00% | — | — |
Current DrawdownCurrent decline from peak | -7.30% | -11.99% | +4.69% |
Average DrawdownAverage peak-to-trough decline | -26.27% | -5.80% | -20.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.28% | — | — |
Volatility
IEO vs. DVXE - Volatility Comparison
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Volatility by Period
| IEO | DVXE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.32% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 19.86% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 25.15% | 31.23% | -6.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.54% | 31.23% | -0.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.00% | 31.23% | +3.77% |
IEO vs. DVXE - Expense Ratio Comparison
IEO has a 0.42% expense ratio, which is lower than DVXE's 0.89% expense ratio.
Dividends
IEO vs. DVXE - Dividend Comparison
IEO's dividend yield for the trailing twelve months is around 1.97%, while DVXE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DVXE WEBs Energy XLE Defined Volatility ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IEO iShares U.S. Oil & Gas Exploration & Production ETF | 1.97% | 2.61% | 2.63% | 3.00% | 3.77% | 2.62% | 3.17% | 1.85% | 1.67% | 0.94% | 0.98% | 2.03% |
Frequently Asked Questions
With a correlation of 0.92, IEO and DVXE 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.
On fees, IEO is cheaper at 0.42% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IEO is cheaper with a 0.42% expense ratio, compared with 0.89% for DVXE.
IEO has the higher dividend yield at 1.97%, compared with 0.00% for DVXE.
IEO tracks Dow Jones U.S. Select Oil Exploration & Production Index, while DVXE tracks Syntax Defined Volatility XLE Index. They also come from different issuers: iShares and WEBs. Their fees differ too: 0.42% for IEO and 0.89% for DVXE.
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