IXC vs. XOP

Last updated Jul 12, 2026

IXC (iShares Global Energy ETF) and XOP (SPDR S&P Oil & Gas Exploration & Production ETF) are both Energy Equities funds - IXC tracks the S&P Global 1200 Energy Capped Index while XOP tracks the S&P Oil & Gas Exploration & Production Select Industry. Both are passively managed. Over the past 10 years, IXC returned 8.83%/yr vs 2.97%/yr for XOP. Their correlation of 0.88 suggests significant overlap in exposure. IXC charges 0.40%/yr vs 0.35%/yr for XOP.

Performance

IXC vs. XOP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Global Energy ETF (IXC) and SPDR S&P Oil & Gas Exploration & Production ETF (XOP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IXC achieves a 23.35% return, which is significantly lower than XOP's 26.71% return. Over the past 10 years, IXC has outperformed XOP with an annualized return of 8.83%, while XOP has yielded a comparatively lower 2.97% annualized return.

IXC

• 1D: 0.51%
• 1M: -4.24%
• 6M: 20.68%
• YTD: 23.35%
• 1Y: 29.02%
• 3Y*: 14.69%
• 5Y*: 18.91%
• 10Y*: 8.83%

XOP

• 1D: -0.56%
• 1M: -2.49%
• 6M: 25.57%
• YTD: 26.71%
• 1Y: 21.93%
• 3Y*: 8.56%
• 5Y*: 13.75%
• 10Y*: 2.97%

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

IXC vs. XOP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IXC iShares Global Energy ETF	23.35%	13.98%	1.95%	3.92%	48.51%	40.88%	-31.00%	12.67%	-14.85%	5.54%
XOP SPDR S&P Oil & Gas Exploration & Production ETF	26.71%	-2.15%	-1.00%	3.56%	45.37%	66.74%	-36.40%	-9.44%	-28.10%	-9.47%

Correlation

The correlation between IXC and XOP is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Jun 22, 2006	0.88

The correlation between IXC and XOP has been stable across timeframes, ranging from 0.86 to 0.90 - a consistent structural relationship.

IXC vs. XOP - Sectors Allocation Comparison

Sectors	IXC	XOP
Energy	99.4%	96.8%
Utilities	0.2%	-
Basic Materials	-	3.2%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	2.2%
Real Estate	-	-
Technology	-	-

Return for Risk

IXC vs. XOP — Risk / Return Rank

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

IXC

IXC Risk / Return Rank: 51
IXC Sharpe Ratio Rank: 58
IXC Sortino Ratio Rank: 53
IXC Omega Ratio Rank: 51
IXC Calmar Ratio Rank: 48
IXC Martin Ratio Rank: 47

XOP

XOP Risk / Return Rank: 27
XOP Sharpe Ratio Rank: 27
XOP Sortino Ratio Rank: 26
XOP Omega Ratio Rank: 26
XOP Calmar Ratio Rank: 30
XOP Martin Ratio Rank: 27

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.

IXC vs. XOP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global Energy ETF (IXC) and SPDR S&P Oil & Gas Exploration & Production ETF (XOP). 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.

	IXC	XOP	Difference
Sharpe ratio: Return per unit of total volatility	1.56	0.81	+0.75
Sortino ratio: Return per unit of downside risk	2.09	1.22	+0.88
Omega ratio: Gain probability vs. loss probability	1.26	1.15	+0.11
Calmar ratio: Return relative to maximum drawdown	1.95	1.23	+0.72
Martin ratio: Return relative to average drawdown	6.26	3.01	+3.25

IXC vs. XOP - Sharpe Ratio Comparison

The current IXC Sharpe Ratio is 1.56, which is higher than the XOP Sharpe Ratio of 0.81. The chart below compares the historical Sharpe Ratios of IXC and XOP, 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

IXC vs. XOP - Drawdown Comparison

The maximum IXC drawdown since its inception was -67.88%, smaller than the maximum XOP drawdown of -90.27%. Use the drawdown chart below to compare losses from any high point for IXC and XOP.

Drawdown Indicators

	IXC	XOP	Difference
Max Drawdown Largest peak-to-trough decline	-67.88%	-90.27%	+22.39%
Max Drawdown (1Y) Largest decline over 1 year	-15.36%	-18.50%	+3.14%
Max Drawdown (3Y) Largest decline over 3 years	-19.06%	-34.98%	+15.92%
Max Drawdown (5Y) Largest decline over 5 years	-24.93%	-34.98%	+10.05%
Max Drawdown (10Y) Largest decline over 10 years	-64.16%	-82.61%	+18.45%
Current Drawdown Current decline from peak	-11.22%	-40.77%	+29.55%
Average Drawdown Average peak-to-trough decline	-17.45%	-42.57%	+25.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.78%	7.54%	-2.76%

Volatility

IXC vs. XOP - Volatility Comparison

The current volatility for iShares Global Energy ETF (IXC) is 6.59%, while SPDR S&P Oil & Gas Exploration & Production ETF (XOP) has a volatility of 7.88%. This indicates that IXC experiences smaller price fluctuations and is considered to be less risky than XOP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IXC	XOP	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.59%	7.88%	-1.29%
Volatility (6M) Calculated over the trailing 6-month period	15.86%	22.07%	-6.21%
Volatility (1Y) Calculated over the trailing 1-year period	19.18%	28.03%	-8.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.45%	33.73%	-10.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.81%	40.17%	-13.36%

IXC vs. XOP - Expense Ratio Comparison

IXC has a 0.40% expense ratio, which is higher than XOP's 0.35% expense ratio.

Dividends

IXC vs. XOP - Dividend Comparison

IXC's dividend yield for the trailing twelve months is around 3.08%, more than XOP's 2.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IXC iShares Global Energy ETF	3.08%	3.68%	4.56%	3.45%	4.76%	3.98%	4.86%	7.00%	3.51%	3.05%	2.86%	3.77%
XOP SPDR S&P Oil & Gas Exploration & Production ETF	2.05%	2.62%	2.45%	2.63%	2.47%	1.61%	2.34%	1.47%	0.99%	0.76%	0.76%	2.21%

Frequently Asked Questions

Can I hold both IXC and XOP in my portfolio?

IXC and XOP have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IXC or XOP?

XOP has higher volatility (7.88%) compared to IXC (6.59%). In terms of maximum drawdown, IXC dropped -67.88% vs XOP's -90.27%.

Which ETF is better, IXC or XOP?

On 10-year performance, IXC leads with 8.83% vs 2.97% for XOP. On fees, XOP is cheaper at 0.35% per year. On volatility, IXC has been the lower-risk option at 6.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IXC or XOP?

Over the 10-year period, IXC has performed better with a 8.83% return vs 2.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IXC or XOP?

XOP is cheaper with a 0.35% expense ratio, compared with 0.40% for IXC.

Which ETF pays a higher dividend yield, IXC or XOP?

IXC has the higher dividend yield at 3.08%, compared with 2.05% for XOP.

What is the main difference between IXC and XOP?

IXC tracks S&P Global 1200 Energy Capped Index, while XOP tracks S&P Oil & Gas Exploration & Production Select Industry. They also come from different issuers: iShares and State Street. Their fees differ too: 0.40% for IXC and 0.35% for XOP.

Which has better risk-adjusted returns?

IXC currently has the higher Sharpe Ratio (1.56 vs 0.81), 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.