IEZ vs. XLEI

Last updated Aug 5, 2026

IEZ (iShares U.S. Oil Equipment & Services ETF) and XLEI (State Street Energy Select Sector SPDR Premium Income ETF) are both Energy Equities funds - IEZ tracks the Dow Jones U.S. Select Oil Equipment & Services Index while XLEI tracks the S&P Energy Select Sector. Both are passively managed. Over the past year, IEZ returned 63.51% vs 34.09% for XLEI. Their 0.67 correlation means they have sometimes moved together and sometimes differently. IEZ charges 0.42%/yr vs 0.35%/yr for XLEI.

Performance

IEZ vs. XLEI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Oil Equipment & Services ETF (IEZ) 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, IEZ achieves a 35.92% return, which is significantly higher than XLEI's 23.25% return.

IEZ

• 1D: 2.54%
• 1M: 9.13%
• 6M: 8.39%
• YTD: 35.92%
• 1Y: 63.51%
• 3Y*: 7.53%
• 5Y*: 18.66%
• 10Y*: -1.17%
• ALL TIME*: -1.80%

XLEI

• 1D: 0.04%
• 1M: 9.73%
• 6M: 14.00%
• YTD: 23.25%
• 1Y: 34.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 30.40%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IEZ iShares U.S. Oil Equipment & Services ETF	$3.10M	$5.32M	$13.27M
XLEI State Street Energy Select Sector SPDR Premium Income ETF	$1.75M	$1.47M	$1.31M

IEZ vs. XLEI - Yearly Performance Comparison

	2026 (YTD)	2025
IEZ iShares U.S. Oil Equipment & Services ETF	35.92%	12.05%
XLEI State Street Energy Select Sector SPDR Premium Income ETF	23.25%	6.17%

Correlation

The correlation between IEZ and XLEI is 0.67, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.67
Correlation (All Time) Calculated using the full available price history since Jul 30, 2025	0.67

The correlation between IEZ and XLEI has been stable across timeframes, ranging from 0.67 to 0.67 - a consistent structural relationship.

IEZ vs. XLEI - Sectors Allocation Comparison

Sectors	IEZ	XLEI
Energy	99.1%	100.0%
Utilities	1.0%	-
Industrials	0.9%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	102.5%
Healthcare	-	-
Real Estate	-	-
Technology	-	-

Return for Risk

IEZ vs. XLEI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

IEZ

IEZ Risk / Return Rank: 78
IEZ Sharpe Ratio Rank: 86
IEZ Sortino Ratio Rank: 79
IEZ Omega Ratio Rank: 76
IEZ Calmar Ratio Rank: 79
IEZ Martin Ratio Rank: 69

XLEI

XLEI Risk / Return Rank: 87
XLEI Sharpe Ratio Rank: 90
XLEI Sortino Ratio Rank: 84
XLEI Omega Ratio Rank: 87
XLEI Calmar Ratio Rank: 90
XLEI Martin Ratio Rank: 83

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IEZ vs. XLEI - Risk-Adjusted Trends Comparison

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

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.

	IEZ	XLEI	Difference
Sharpe ratio: Return per unit of total volatility	2.23	2.45	-0.22
Sortino ratio: Return per unit of downside risk	2.87	3.05	-0.18
Omega ratio: Gain probability vs. loss probability	1.36	1.42	-0.06
Calmar ratio: Return relative to maximum drawdown	3.14	4.18	-1.04
Martin ratio: Return relative to average drawdown	9.47	12.58	-3.11

IEZ vs. XLEI - Sharpe Ratio Comparison

The current IEZ Sharpe Ratio is 2.23, which is comparable to the XLEI Sharpe Ratio of 2.45. The chart below compares the historical Sharpe Ratios of IEZ and XLEI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IEZ vs. XLEI - Drawdown Comparison

The maximum IEZ drawdown since its inception was -92.52%, which is greater than XLEI's maximum drawdown of -8.19%. Use the drawdown chart below to compare losses from any high point for IEZ and XLEI.

Drawdown Indicators

	IEZ	XLEI	Difference
Max Drawdown Largest peak-to-trough decline	-92.52%	-8.19%	-84.33%
Max Drawdown (1Y) Largest decline over 1 year	-20.34%	-8.19%	-12.15%
Max Drawdown (3Y) Largest decline over 3 years	-40.25%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-40.25%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-88.29%	—	—
Current Drawdown Current decline from peak	-55.14%	-1.05%	-54.09%
Average Drawdown Average peak-to-trough decline	-48.31%	-1.83%	-46.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.73%	2.72%	+4.01%

Volatility

IEZ vs. XLEI - Volatility Comparison

iShares U.S. Oil Equipment & Services ETF (IEZ) has a higher volatility of 8.13% compared to State Street Energy Select Sector SPDR Premium Income ETF (XLEI) at 4.29%. This indicates that IEZ's price experiences larger fluctuations and is considered to be riskier than XLEI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IEZ	XLEI	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.13%	4.29%	+3.84%
Volatility (6M) Calculated over the trailing 6-month period	20.82%	11.29%	+9.53%
Volatility (1Y) Calculated over the trailing 1-year period	28.61%	14.00%	+14.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.87%	14.02%	+21.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.46%	14.02%	+27.44%

IEZ vs. XLEI - Expense Ratio Comparison

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

Dividends

IEZ vs. XLEI - Dividend Comparison

IEZ's dividend yield for the trailing twelve months is around 1.22%, less than XLEI's 20.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IEZ iShares U.S. Oil Equipment & Services ETF	1.22%	1.87%	1.76%	0.97%	0.65%	1.20%	2.07%	2.28%	1.81%	3.42%	0.91%	2.40%
XLEI State Street Energy Select Sector SPDR Premium Income ETF	20.28%	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 IEZ and XLEI in my portfolio?

IEZ and XLEI have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IEZ or XLEI?

IEZ has higher volatility (8.13%) compared to XLEI (4.29%). In terms of maximum drawdown, IEZ dropped -92.52% vs XLEI's -8.19%.

Which ETF is better, IEZ or XLEI?

On 1-year performance, IEZ leads with 63.51% vs 34.09% for XLEI. On fees, XLEI is cheaper at 0.35% per year. On volatility, XLEI has been the lower-risk option at 4.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IEZ or XLEI?

Over the 1-year period, IEZ has performed better with a 63.51% return vs 34.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IEZ or XLEI?

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

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

XLEI has the higher dividend yield at 20.28%, compared with 1.22% for IEZ.

What is the main difference between IEZ and XLEI?

IEZ tracks Dow Jones U.S. Select Oil Equipment & Services 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 IEZ and 0.35% for XLEI.

Which has better risk-adjusted returns?

XLEI currently has the higher Sharpe Ratio (2.45 vs 2.23), 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.