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IYE vs. XLE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IYE vs. XLE

Last updated Jun 23, 2026

IYE (iShares U.S. Energy ETF) and XLE (State Street Energy Select Sector SPDR ETF) are both Energy Equities funds - IYE tracks the Dow Jones U.S. Oil & Gas Index while XLE tracks the Energy Select Sector Index. Both are passively managed. Over the past 10 years, IYE returned 8.12%/yr vs 9.29%/yr for XLE. With a 0.98 correlation, they move nearly in lockstep. IYE charges 0.42%/yr vs 0.08%/yr for XLE.

Performance

IYE vs. XLE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Energy ETF (IYE) and State Street Energy Select Sector SPDR ETF (XLE). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

The year-to-date returns for both investments are quite close, with IYE having a 22.27% return and XLE slightly higher at 22.58%. Over the past 10 years, IYE has underperformed XLE with an annualized return of 8.12%, while XLE has yielded a comparatively higher 9.29% annualized return.

IYE

1D
1.34%
1M
-8.19%
YTD
22.27%
6M
23.44%
1Y
25.82%
3Y*
15.13%
5Y*
17.89%
10Y*
8.12%

XLE

1D
1.26%
1M
-8.47%
YTD
22.58%
6M
23.97%
1Y
26.32%
3Y*
15.44%
5Y*
18.90%
10Y*
9.29%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IYE vs. XLE - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IYE
iShares U.S. Energy ETF		22.27%7.33%6.06%-2.21%60.21%53.42%-33.49%10.03%-19.37%-1.80%
XLE
State Street Energy Select Sector SPDR ETF		22.58%7.88%5.56%-0.63%64.32%53.28%-32.67%11.74%-18.22%-0.89%

Correlation

The correlation between IYE and XLE is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

1.00

Correlation (3Y)
Calculated over the trailing 3-year period

1.00

Correlation (5Y)
Calculated over the trailing 5-year period

1.00

Correlation (10Y)
Calculated over the trailing 10-year period

1.00

Correlation (All Time)
Calculated using the full available price history since Jun 16, 2000

0.98

The correlation between IYE and XLE has been stable across timeframes, ranging from 0.98 to 1.00 - a consistent structural relationship.

IYE vs. XLE - Sectors Allocation Comparison

Sectors
IYE
XLE

Energy

98.1%
100.0%

Technology

1.9%

-

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Financial Services

-

-

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Utilities

-

-

Energy

IYE
98.1%
XLE
100.0%

Technology

IYE
1.9%
XLE

-

Basic Materials

IYE

-

XLE

-

Communication Services

IYE

-

XLE

-

Consumer Cyclical

IYE

-

XLE

-

Consumer Defensive

IYE

-

XLE

-

Financial Services

IYE

-

XLE

-

Healthcare

IYE

-

XLE

-

Industrials

IYE

-

XLE

-

Real Estate

IYE

-

XLE

-

Utilities

IYE

-

XLE

-

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. Energy ETF

State Street Energy Select Sector SPDR ETF

Often compared with IYE:
IYE vs. VDEIYE vs. IXCIYE vs. FENYIYE vs. OIHIYE vs. IYHIYE vs. XOPIYE vs. MLPX
Often compared with XLE:
XLE vs. VDEXLE vs. USOXLE vs. XOPXLE vs. XLUXLE vs. XLKXLE vs. IXCXLE vs. FENY

Return for Risk

IYE vs. XLE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IYE
IYE Risk / Return Rank: 3636
Overall Rank
IYE Sharpe Ratio Rank: 3636
Sharpe Ratio Rank
IYE Sortino Ratio Rank: 3434
Sortino Ratio Rank
IYE Omega Ratio Rank: 3333
Omega Ratio Rank
IYE Calmar Ratio Rank: 3939
Calmar Ratio Rank
IYE Martin Ratio Rank: 3838
Martin Ratio Rank
XLE
XLE Risk / Return Rank: 3636
Overall Rank
XLE Sharpe Ratio Rank: 3636
Sharpe Ratio Rank
XLE Sortino Ratio Rank: 3434
Sortino Ratio Rank
XLE Omega Ratio Rank: 3232
Omega Ratio Rank
XLE Calmar Ratio Rank: 3939
Calmar Ratio Rank
XLE Martin Ratio Rank: 3838
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.

IYE vs. XLE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Energy ETF (IYE) and State Street Energy Select Sector SPDR ETF (XLE). 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.

IYEXLEDifference
Sharpe ratioReturn per unit of total volatility
1.27
1.26

+0.01

Sortino ratioReturn per unit of downside risk
1.76
1.75

+0.01

Omega ratioGain probability vs. loss probability

1.21

1.21

0.00

Calmar ratioReturn relative to maximum drawdown

1.88

1.88

0.00

Martin ratioReturn relative to average drawdown

5.73

5.70

+0.03

IYE vs. XLE - Sharpe Ratio Comparison

The current IYE Sharpe Ratio is 1.27, which is comparable to the XLE Sharpe Ratio of 1.26. The chart below compares the historical Sharpe Ratios of IYE and XLE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

IYE vs. XLE - Drawdown Comparison

The maximum IYE drawdown since its inception was -73.74%, roughly equal to the maximum XLE drawdown of -71.26%. Use the drawdown chart below to compare losses from any high point for IYE and XLE.

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Drawdown Indicators

IYEXLEDifference

Max Drawdown

Largest peak-to-trough decline

-73.74%

-71.26%

-2.48%

Max Drawdown (1Y)

Largest decline over 1 year

-13.81%

-14.05%

+0.24%

Max Drawdown (3Y)

Largest decline over 3 years

-20.37%

-20.14%

-0.23%

Max Drawdown (5Y)

Largest decline over 5 years

-25.61%

-26.04%

+0.43%

Max Drawdown (10Y)

Largest decline over 10 years

-68.59%

-66.81%

-1.78%

Current Drawdown

Current decline from peak

-12.65%

-12.96%

+0.31%

Average Drawdown

Average peak-to-trough decline

-19.34%

-17.97%

-1.37%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.55%

4.66%

-0.11%

Volatility

IYE vs. XLE - Volatility Comparison

iShares U.S. Energy ETF (IYE) and State Street Energy Select Sector SPDR ETF (XLE) have volatilities of 6.89% and 7.06%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IYEXLEDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.89%

7.06%

-0.17%

Volatility (6M)

Calculated over the trailing 6-month period

16.48%

16.89%

-0.41%

Volatility (1Y)

Calculated over the trailing 1-year period

20.43%

20.96%

-0.53%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

25.66%

25.98%

-0.32%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

29.55%

29.62%

-0.07%

IYE vs. XLE - Expense Ratio Comparison

IYE has a 0.42% expense ratio, which is higher than XLE's 0.08% expense ratio.

Dividends

IYE vs. XLE - Dividend Comparison

IYE's dividend yield for the trailing twelve months is around 2.33%, less than XLE's 3.47% yield.

PositionTTM20252024202320222021202020192018201720162015
IYE
iShares U.S. Energy ETF		2.33%2.85%2.75%2.99%3.37%2.98%4.75%6.60%3.16%2.66%2.11%3.39%
XLE
State Street Energy Select Sector SPDR ETF		3.47%3.28%3.36%3.55%3.68%4.21%5.62%6.72%3.54%3.03%2.26%3.39%

Frequently Asked Questions

With a correlation of 1.00, IYE and XLE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

XLE has higher volatility (7.06%) compared to IYE (6.89%). In terms of maximum drawdown, IYE dropped -73.74% vs XLE's -71.26%.

On 10-year performance, XLE leads with 9.29% vs 8.12% for IYE. On fees, XLE is cheaper at 0.08% per year. On volatility, IYE has been the lower-risk option at 6.89%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, XLE has performed better with a 9.29% return vs 8.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

XLE is cheaper with a 0.08% expense ratio, compared with 0.42% for IYE.

XLE has the higher dividend yield at 3.47%, compared with 2.33% for IYE.

IYE tracks Dow Jones U.S. Oil & Gas Index, while XLE tracks Energy Select Sector Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.42% for IYE and 0.08% for XLE.

IYE currently has the higher Sharpe Ratio (1.27 vs 1.26), 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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