LTL vs. XLE

Last updated Jun 13, 2026

LTL (ProShares Ultra Telecommunications) and XLE (State Street Energy Select Sector SPDR ETF) are both exchange-traded funds - LTL is a Leveraged Equities fund tracking the Dow Jones U.S. Select Telecommunications Index (200%), while XLE is a Energy Equities fund tracking the Energy Select Sector Index. Both are passively managed. Over the past 10 years, LTL returned 8.83%/yr vs 9.91%/yr for XLE. At a 0.36 correlation, their price movements are largely independent. LTL charges 0.95%/yr vs 0.08%/yr for XLE.

Performance

LTL vs. XLE - Performance Comparison

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

Returns By Period

In the year-to-date period, LTL achieves a -12.79% return, which is significantly lower than XLE's 29.56% return. Over the past 10 years, LTL has underperformed XLE with an annualized return of 8.83%, while XLE has yielded a comparatively higher 9.91% annualized return.

LTL

• 1D: -1.02%
• 1M: -9.73%
• YTD: -12.79%
• 6M: -10.48%
• 1Y: 12.42%
• 3Y*: 34.49%
• 5Y*: 15.81%
• 10Y*: 8.83%

XLE

• 1D: 0.75%
• 1M: -0.90%
• YTD: 29.56%
• 6M: 28.37%
• 1Y: 34.84%
• 3Y*: 16.18%
• 5Y*: 20.12%
• 10Y*: 9.91%

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

LTL vs. XLE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LTL ProShares Ultra Telecommunications	-12.79%	37.06%	65.15%	62.03%	-41.14%	40.42%	-3.25%	30.16%	-23.44%	-26.85%
XLE State Street Energy Select Sector SPDR ETF	29.56%	7.88%	5.56%	-0.63%	64.32%	53.28%	-32.67%	11.74%	-18.22%	-0.89%

Correlation

The correlation between LTL and XLE is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.13
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (5Y) Calculated over the trailing 5-year period	0.22
Correlation (10Y) Calculated over the trailing 10-year period	0.32
Correlation (All Time) Calculated using the full available price history since May 22, 2008	0.36

The correlation between LTL and XLE shifts across timeframes, from -0.13 (1 year) to 0.36 (all time), reflecting how their relationship changes across market environments.

LTL vs. XLE - Sectors Allocation Comparison

Sectors	LTL	XLE
Communication Services	57.5%	-
Technology	2.8%	-
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	100.0%
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

LTL vs. XLE — Risk / Return Rank

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

LTL

LTL Risk / Return Rank: 16
LTL Sharpe Ratio Rank: 16
LTL Sortino Ratio Rank: 16
LTL Omega Ratio Rank: 15
LTL Calmar Ratio Rank: 15
LTL Martin Ratio Rank: 16

XLE

XLE Risk / Return Rank: 61
XLE Sharpe Ratio Rank: 64
XLE Sortino Ratio Rank: 58
XLE Omega Ratio Rank: 54
XLE Calmar Ratio Rank: 71
XLE Martin Ratio Rank: 56

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.

LTL vs. XLE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Telecommunications (LTL) 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.

	LTL	XLE	Difference
Sharpe ratio: Return per unit of total volatility	0.37	1.82	-1.45
Sortino ratio: Return per unit of downside risk	0.72	2.40	-1.69
Omega ratio: Gain probability vs. loss probability	1.08	1.30	-0.22
Calmar ratio: Return relative to maximum drawdown	0.46	3.10	-2.64
Martin ratio: Return relative to average drawdown	1.29	8.63	-7.34

LTL vs. XLE - Sharpe Ratio Comparison

The current LTL Sharpe Ratio is 0.37, which is lower than the XLE Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of LTL 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.

Drawdowns

LTL vs. XLE - Drawdown Comparison

The maximum LTL drawdown since its inception was -80.20%, which is greater than XLE's maximum drawdown of -71.26%. Use the drawdown chart below to compare losses from any high point for LTL and XLE.

Drawdown Indicators

	LTL	XLE	Difference
Max Drawdown Largest peak-to-trough decline	-80.20%	-71.26%	-8.94%
Max Drawdown (1Y) Largest decline over 1 year	-21.43%	-12.05%	-9.38%
Max Drawdown (3Y) Largest decline over 3 years	-34.37%	-20.14%	-14.23%
Max Drawdown (5Y) Largest decline over 5 years	-52.60%	-26.04%	-26.56%
Max Drawdown (10Y) Largest decline over 10 years	-64.15%	-66.81%	+2.66%
Current Drawdown Current decline from peak	-15.86%	-8.01%	-7.85%
Average Drawdown Average peak-to-trough decline	-28.63%	-17.97%	-10.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.69%	4.32%	+3.37%

Volatility

LTL vs. XLE - Volatility Comparison

ProShares Ultra Telecommunications (LTL) and State Street Energy Select Sector SPDR ETF (XLE) have volatilities of 7.29% and 7.26%, 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.

Volatility by Period

	LTL	XLE	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.29%	7.26%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	19.50%	16.79%	+2.71%
Volatility (1Y) Calculated over the trailing 1-year period	26.89%	20.57%	+6.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.58%	26.05%	+8.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.91%	29.58%	+7.33%

LTL vs. XLE - Expense Ratio Comparison

LTL has a 0.95% expense ratio, which is higher than XLE's 0.08% expense ratio.

Dividends

LTL vs. XLE - Dividend Comparison

LTL's dividend yield for the trailing twelve months is around 0.93%, less than XLE's 2.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LTL ProShares Ultra Telecommunications	0.93%	0.64%	0.29%	0.97%	2.01%	1.14%	1.57%	0.83%	1.99%	1.96%	0.70%	1.55%
XLE State Street Energy Select Sector SPDR ETF	2.59%	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

Can I hold both LTL and XLE in my portfolio?

LTL and XLE have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LTL or XLE?

LTL has higher volatility (7.29%) compared to XLE (7.26%). In terms of maximum drawdown, LTL dropped -80.20% vs XLE's -71.26%.

Which ETF is better, LTL or XLE?

On 10-year performance, XLE leads with 9.91% vs 8.83% for LTL. On fees, XLE is cheaper at 0.08% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LTL or XLE?

Over the 10-year period, XLE has performed better with a 9.91% return vs 8.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LTL or XLE?

XLE is cheaper with a 0.08% expense ratio, compared with 0.95% for LTL.

Which ETF pays a higher dividend yield, LTL or XLE?

XLE has the higher dividend yield at 2.59%, compared with 0.93% for LTL.

What is the main difference between LTL and XLE?

LTL is categorized as Leveraged Equities, while XLE is Energy Equities. LTL tracks Dow Jones U.S. Select Telecommunications Index (200%), while XLE tracks Energy Select Sector Index. They also come from different issuers: ProShares and State Street. Their fees differ too: 0.95% for LTL and 0.08% for XLE.

Which has better risk-adjusted returns?

XLE currently has the higher Sharpe Ratio (1.82 vs 0.37), 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.