IEO vs. XLEI

Last updated Jun 4, 2026

IEO (iShares U.S. Oil & Gas Exploration & Production ETF) and XLEI (State Street Energy Select Sector SPDR Premium Income ETF) are both Energy Equities funds - IEO tracks the Dow Jones U.S. Select Oil Exploration & Production Index while XLEI tracks the S&P Energy Select Sector. Both are passively managed. Their correlation of 0.88 suggests significant overlap in exposure. IEO charges 0.42%/yr vs 0.35%/yr for XLEI.

Performance

IEO vs. XLEI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Oil & Gas Exploration & Production ETF (IEO) and State Street Energy Select Sector SPDR Premium Income ETF (XLEI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IEO achieves a 34.59% return, which is significantly higher than XLEI's 20.42% 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%

XLEI

• 1D: 1.05%
• 1M: 1.40%
• YTD: 20.42%
• 6M: 20.06%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IEO vs. XLEI - Yearly Performance Comparison

	2026 (YTD)	2025
IEO iShares U.S. Oil & Gas Exploration & Production ETF	34.59%	-0.65%
XLEI State Street Energy Select Sector SPDR Premium Income ETF	20.42%	6.77%

Correlation

The correlation between IEO and XLEI is 0.88, 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 31, 2025	0.88

IEO vs. XLEI - Sectors Allocation Comparison

Sectors	IEO	XLEI
Energy	99.3%	-
Basic Materials	0.7%	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	100.3%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

IEO vs. XLEI — Risk / Return Rank

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

IEO

IEO Risk / Return Rank: 45
IEO Sharpe Ratio Rank: 45
IEO Sortino Ratio Rank: 41
IEO Omega Ratio Rank: 40
IEO Calmar Ratio Rank: 56
IEO Martin Ratio Rank: 45

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.

IEO vs. XLEI - 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 State Street Energy Select Sector SPDR Premium Income ETF (XLEI). 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	XLEI	Difference
Sharpe ratio: Return per unit of total volatility	1.61	—	—
Sortino ratio: Return per unit of downside risk	2.12	—	—
Omega ratio: Gain probability vs. loss probability	1.26	—	—
Calmar ratio: Return relative to maximum drawdown	2.82	—	—
Martin ratio: Return 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.

Sharpe Ratios by Period

	IEO	XLEI	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	2.65	-2.48

Drawdowns

IEO vs. XLEI - Drawdown Comparison

The maximum IEO drawdown since its inception was -79.17%, which is greater than XLEI's maximum drawdown of -7.98%. Use the drawdown chart below to compare losses from any high point for IEO and XLEI.

Drawdown Indicators

	IEO	XLEI	Difference
Max Drawdown Largest peak-to-trough decline	-79.17%	-7.98%	-71.19%
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 Drawdown Current decline from peak	-7.30%	-0.97%	-6.33%
Average Drawdown Average peak-to-trough decline	-26.27%	-1.52%	-24.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.28%	—	—

Volatility

Volatility by Period

	IEO	XLEI	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%	13.16%	+11.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.54%	13.16%	+17.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.00%	13.16%	+21.84%

IEO vs. XLEI - Expense Ratio Comparison

IEO has a 0.42% expense ratio, which is higher than XLEI's 0.35% expense ratio.

Dividends

IEO vs. XLEI - Dividend Comparison

IEO's dividend yield for the trailing twelve months is around 1.97%, less than XLEI's 16.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
XLEI State Street Energy Select Sector SPDR Premium Income ETF	16.59%	10.17%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IEO and XLEI in my portfolio?

IEO and XLEI have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IEO or XLEI?

On fees, XLEI is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IEO or XLEI?

XLEI is cheaper with a 0.35% expense ratio, compared with 0.42% for IEO.

Which ETF pays a higher dividend yield, IEO or XLEI?

XLEI has the higher dividend yield at 16.59%, compared with 1.97% for IEO.

What is the main difference between IEO and XLEI?

IEO tracks Dow Jones U.S. Select Oil Exploration & Production Index, while XLEI tracks S&P Energy Select Sector. They also come from different issuers: iShares and State Street. Their fees differ too: 0.42% for IEO and 0.35% for XLEI.