IEO vs. ET
IEO (iShares U.S. Oil & Gas Exploration & Production ETF) is Energy Equities fund tracking the Dow Jones U.S. Select Oil Exploration & Production Index, while ET (Energy Transfer LP) is a stock. Over the past 10 years, IEO returned 10.29%/yr vs 10.94%/yr for ET. A 0.53 correlation means they provide meaningful diversification when combined.
Performance
IEO vs. ET - Performance Comparison
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Returns By Period
In the year-to-date period, IEO achieves a 33.66% return, which is significantly higher than ET's 26.82% return. Over the past 10 years, IEO has underperformed ET with an annualized return of 10.29%, while ET has yielded a comparatively higher 10.94% annualized return.
IEO
- 1D
- 3.89%
- 1M
- 2.49%
- 6M
- 31.69%
- YTD
- 33.66%
- 1Y
- 30.08%
- 3Y*
- 13.87%
- 5Y*
- 20.94%
- 10Y*
- 10.29%
ET
- 1D
- 2.64%
- 1M
- 5.82%
- 6M
- 21.94%
- YTD
- 26.82%
- 1Y
- 24.52%
- 3Y*
- 25.65%
- 5Y*
- 24.33%
- 10Y*
- 10.94%
IEO vs. ET - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IEO iShares U.S. Oil & Gas Exploration & Production ETF | 33.66% | 2.15% | -1.45% | 3.57% | 57.82% | 75.57% | -32.77% | 9.63% | -19.44% | 0.33% |
ET Energy Transfer LP | 26.82% | -9.37% | 53.87% | 27.87% | 55.74% | 42.96% | -44.92% | 5.88% | -17.74% | -4.66% |
Correlation
The correlation between IEO and ET is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since May 5, 2006 | 0.53 |
The correlation between IEO and ET has been stable across timeframes, ranging from 0.53 to 0.63 - a consistent structural relationship.
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Return for Risk
IEO vs. ET — Risk / Return Rank
IEO
ET
IEO vs. ET - 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 Energy Transfer LP (ET). 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.
| IEO | ET | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.34 | ||
| Sortino ratioReturn per unit of downside risk | -0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.26 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.85 | 2.87 | -1.02 |
| Martin ratioReturn relative to average drawdown | 4.62 | 6.24 | -1.62 |
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Drawdowns
IEO vs. ET - Drawdown Comparison
The maximum IEO drawdown since its inception was -79.17%, smaller than the maximum ET drawdown of -87.81%. Use the drawdown chart below to compare losses from any high point for IEO and ET.
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Drawdown Indicators
| IEO | ET | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.17% | -87.81% | +8.64% |
Max Drawdown (1Y)Largest decline over 1 year | -16.32% | -8.59% | -7.73% |
Max Drawdown (3Y)Largest decline over 3 years | -31.46% | -24.56% | -6.90% |
Max Drawdown (5Y)Largest decline over 5 years | -31.46% | -24.56% | -6.90% |
Max Drawdown (10Y)Largest decline over 10 years | -75.00% | -72.82% | -2.18% |
Current DrawdownCurrent decline from peak | -7.94% | -1.03% | -6.91% |
Average DrawdownAverage peak-to-trough decline | -26.20% | -25.65% | -0.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.58% | 3.94% | +2.64% |
Volatility
IEO vs. ET - Volatility Comparison
iShares U.S. Oil & Gas Exploration & Production ETF (IEO) has a higher volatility of 8.25% compared to Energy Transfer LP (ET) at 5.66%. This indicates that IEO's price experiences larger fluctuations and is considered to be riskier than ET based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEO | ET | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.25% | 5.66% | +2.59% |
Volatility (6M)Calculated over the trailing 6-month period | 20.23% | 12.36% | +7.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.77% | 16.31% | +9.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.46% | 24.61% | +5.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.93% | 34.33% | +0.60% |
Dividends
IEO vs. ET - Dividend Comparison
IEO's dividend yield for the trailing twelve months is around 1.97%, less than ET's 6.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ET Energy Transfer LP | 6.62% | 7.97% | 6.51% | 8.95% | 7.33% | 7.41% | 17.27% | 9.51% | 9.24% | 6.66% | 5.90% | 7.42% |
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
IEO and ET have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IEO has higher volatility (8.25%) compared to ET (5.66%). In terms of maximum drawdown, IEO dropped -79.17% vs ET's -87.81%.
ET currently has the higher Sharpe Ratio (1.51 vs 1.18), 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.
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