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IEZ vs. XES
Performance
Return for Risk
Dividends
Drawdowns
Volatility

IEZ vs. XES

Last updated Apr 1, 2026

Compare and contrast key facts about iShares U.S. Oil Equipment & Services ETF (IEZ) and SPDR S&P Oil & Gas Equipment & Services ETF (XES).

IEZ and XES are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IEZ is a passively managed fund by iShares that tracks the performance of the Dow Jones U.S. Select Oil Equipment & Services Index. It was launched on May 5, 2006. XES is a passively managed fund by State Street that tracks the performance of the S&P Oil & Gas Equipment & Services Select Industry Index. It was launched on Jun 19, 2006. Both IEZ and XES are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

IEZ vs. XES - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Oil Equipment & Services ETF (IEZ) and SPDR S&P Oil & Gas Equipment & Services ETF (XES). The values are adjusted to include any dividend payments, if applicable.

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IEZ vs. XES - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IEZ
iShares U.S. Oil Equipment & Services ETF		39.05%7.51%-8.15%4.43%65.73%15.98%-42.98%1.82%-42.47%-18.18%
XES
SPDR S&P Oil & Gas Equipment & Services ETF		42.33%5.89%-5.44%6.68%62.03%12.00%-43.38%-9.00%-46.99%-21.93%

Returns By Period

In the year-to-date period, IEZ achieves a 39.05% return, which is significantly lower than XES's 42.33% return. Over the past 10 years, IEZ has outperformed XES with an annualized return of -0.06%, while XES has yielded a comparatively lower -2.35% annualized return.

IEZ

1D
0.63%
1M
0.17%
YTD
39.05%
6M
51.03%
1Y
51.15%
3Y*
16.17%
5Y*
17.40%
10Y*
-0.06%

XES

1D
0.91%
1M
3.20%
YTD
42.33%
6M
61.87%
1Y
65.92%
3Y*
17.22%
5Y*
17.28%
10Y*
-2.35%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares U.S. Oil Equipment & Services ETF

SPDR S&P Oil & Gas Equipment & Services ETF

Often compared with IEZ:
IEZ vs. XOPIEZ vs. FCGIEZ vs. IBBQIEZ vs. IEOIEZ vs. EZUIEZ vs. VDEIEZ vs. USO
Often compared with XES:
XES vs. OIHXES vs. XLEXES vs. PSCEXES vs. PXJXES vs. FENYXES vs. USOXES vs. XPRO

IEZ vs. XES - Expense Ratio Comparison

IEZ has a 0.42% expense ratio, which is higher than XES's 0.35% expense ratio.

IEZ
iShares U.S. Oil Equipment & Services ETF
XES
SPDR S&P Oil & Gas Equipment & Services ETF

Return for Risk

IEZ vs. XES — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IEZ
IEZ Risk / Return Rank: 7272
Overall Rank
IEZ Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
IEZ Sortino Ratio Rank: 7676
Sortino Ratio Rank
IEZ Omega Ratio Rank: 7474
Omega Ratio Rank
IEZ Calmar Ratio Rank: 7878
Calmar Ratio Rank
IEZ Martin Ratio Rank: 5858
Martin Ratio Rank
XES
XES Risk / Return Rank: 8181
Overall Rank
XES Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
XES Sortino Ratio Rank: 8282
Sortino Ratio Rank
XES Omega Ratio Rank: 8282
Omega Ratio Rank
XES Calmar Ratio Rank: 8484
Calmar Ratio Rank
XES Martin Ratio Rank: 7373
Martin Ratio Rank
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.

IEZ vs. XES - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Oil Equipment & Services ETF (IEZ) and SPDR S&P Oil & Gas Equipment & Services ETF (XES). 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.

IEZXESDifference

Sharpe ratio

Return per unit of total volatility

1.39

1.66

-0.26

Sortino ratio

Return per unit of downside risk

1.88

2.11

-0.22

Omega ratio

Gain probability vs. loss probability

1.27

1.31

-0.04

Calmar ratio

Return relative to maximum drawdown

2.04

2.40

-0.36

Martin ratio

Return relative to average drawdown

5.55

7.21

-1.66

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IEZ vs. XES - Sharpe Ratio Comparison

The current IEZ Sharpe Ratio is 1.39, which is comparable to the XES Sharpe Ratio of 1.66. The chart below compares the historical Sharpe Ratios of IEZ and XES, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

IEZXESDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.39

1.66

-0.26

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.47

0.44

+0.04

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

-0.00

-0.05

+0.05

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.04

-0.08

+0.04

Correlation

The correlation between IEZ and XES is 0.98, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

IEZ vs. XES - Dividend Comparison

IEZ's dividend yield for the trailing twelve months is around 1.25%, more than XES's 1.19% yield.

TTM20252024202320222021202020192018201720162015
IEZ
iShares U.S. Oil Equipment & Services ETF		1.25%1.87%1.76%0.97%0.65%1.20%2.07%2.28%1.81%3.42%0.91%2.40%
XES
SPDR S&P Oil & Gas Equipment & Services ETF		1.19%1.69%1.31%0.66%0.36%1.81%1.33%1.43%1.14%1.68%0.64%2.47%

Drawdowns

IEZ vs. XES - Drawdown Comparison

The maximum IEZ drawdown since its inception was -92.52%, roughly equal to the maximum XES drawdown of -95.65%. Use the drawdown chart below to compare losses from any high point for IEZ and XES.

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Drawdown Indicators

IEZXESDifference

Max Drawdown

Largest peak-to-trough decline

-92.52%

-95.65%

+3.13%

Max Drawdown (1Y)

Largest decline over 1 year

-25.55%

-27.52%

+1.97%

Max Drawdown (5Y)

Largest decline over 5 years

-40.25%

-45.95%

+5.70%

Max Drawdown (10Y)

Largest decline over 10 years

-88.29%

-91.23%

+2.94%

Current Drawdown

Current decline from peak

-54.11%

-72.51%

+18.40%

Average Drawdown

Average peak-to-trough decline

-48.23%

-54.22%

+5.99%

Ulcer Index

Depth and duration of drawdowns from previous peaks

9.37%

9.14%

+0.23%

Volatility

IEZ vs. XES - Volatility Comparison

iShares U.S. Oil Equipment & Services ETF (IEZ) has a higher volatility of 9.57% compared to SPDR S&P Oil & Gas Equipment & Services ETF (XES) at 7.76%. This indicates that IEZ's price experiences larger fluctuations and is considered to be riskier than XES based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IEZXESDifference

Volatility (1M)

Calculated over the trailing 1-month period

9.57%

7.76%

+1.81%

Volatility (6M)

Calculated over the trailing 6-month period

21.26%

22.14%

-0.88%

Volatility (1Y)

Calculated over the trailing 1-year period

36.94%

40.03%

-3.09%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

37.04%

39.84%

-2.80%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

41.67%

45.20%

-3.53%