MPWR vs. XES

Last updated Jun 4, 2026

MPWR (Monolithic Power Systems, Inc.) is a stock, while XES (SPDR S&P Oil & Gas Equipment & Services ETF) is Energy Equities fund tracking the S&P Oil & Gas Equipment & Services Select Industry Index. Over the past 10 years, MPWR returned 38.90%/yr vs -2.47%/yr for XES. At a 0.36 correlation, their price movements are largely independent.

Performance

MPWR vs. XES - Performance Comparison

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

Returns By Period

In the year-to-date period, MPWR achieves a 86.82% return, which is significantly higher than XES's 50.69% return. Over the past 10 years, MPWR has outperformed XES with an annualized return of 38.90%, while XES has yielded a comparatively lower -2.47% annualized return.

MPWR

• 1D: 3.99%
• 1M: 7.41%
• YTD: 86.82%
• 6M: 77.05%
• 1Y: 148.30%
• 3Y*: 51.50%
• 5Y*: 38.25%
• 10Y*: 38.90%

XES

• 1D: -0.56%
• 1M: -4.59%
• YTD: 50.69%
• 6M: 43.67%
• 1Y: 97.14%
• 3Y*: 19.81%
• 5Y*: 13.75%
• 10Y*: -2.47%

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

MPWR vs. XES - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MPWR Monolithic Power Systems, Inc.	86.82%	54.45%	-5.55%	79.78%	-27.78%	35.49%	107.49%	54.80%	4.49%	38.23%
XES SPDR S&P Oil & Gas Equipment & Services ETF	50.69%	5.89%	-5.44%	6.68%	62.03%	12.00%	-43.38%	-9.00%	-46.99%	-21.93%

Correlation

The correlation between MPWR and XES is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.28
Correlation (5Y) Calculated over the trailing 5-year period	0.29
Correlation (10Y) Calculated over the trailing 10-year period	0.30
Correlation (All Time) Calculated using the full available price history since Jun 23, 2006	0.36

Return for Risk

MPWR vs. XES — Risk / Return Rank

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

MPWR

MPWR Risk / Return Rank: 93
MPWR Sharpe Ratio Rank: 95
MPWR Sortino Ratio Rank: 92
MPWR Omega Ratio Rank: 90
MPWR Calmar Ratio Rank: 94
MPWR Martin Ratio Rank: 94

XES

XES Risk / Return Rank: 89
XES Sharpe Ratio Rank: 91
XES Sortino Ratio Rank: 85
XES Omega Ratio Rank: 79
XES Calmar Ratio Rank: 96
XES Martin Ratio Rank: 94

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.

MPWR vs. XES - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Monolithic Power Systems, Inc. (MPWR) 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.

	MPWR	XES	Difference
Sharpe ratio: Return per unit of total volatility	3.22	3.23	-0.02
Sortino ratio: Return per unit of downside risk	3.59	3.86	-0.26
Omega ratio: Gain probability vs. loss probability	1.44	1.48	-0.04
Calmar ratio: Return relative to maximum drawdown	6.65	9.93	-3.29
Martin ratio: Return relative to average drawdown	17.87	26.79	-8.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MPWR vs. XES - Sharpe Ratio Comparison

The current MPWR Sharpe Ratio is 3.22, which is comparable to the XES Sharpe Ratio of 3.23. The chart below compares the historical Sharpe Ratios of MPWR and XES, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MPWR	XES	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.22	3.23	-0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.72	0.35	+0.37
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.83	-0.05	+0.89
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	-0.07	+0.66

Drawdowns

MPWR vs. XES - Drawdown Comparison

The maximum MPWR drawdown since its inception was -72.27%, smaller than the maximum XES drawdown of -95.65%. Use the drawdown chart below to compare losses from any high point for MPWR and XES.

Drawdown Indicators

	MPWR	XES	Difference
Max Drawdown Largest peak-to-trough decline	-72.27%	-95.65%	+23.38%
Max Drawdown (1Y) Largest decline over 1 year	-22.45%	-9.84%	-12.61%
Max Drawdown (3Y) Largest decline over 3 years	-51.65%	-45.95%	-5.70%
Max Drawdown (5Y) Largest decline over 5 years	-51.65%	-45.95%	-5.70%
Max Drawdown (10Y) Largest decline over 10 years	-51.65%	-91.23%	+39.58%
Current Drawdown Current decline from peak	0.00%	-70.90%	+70.90%
Average Drawdown Average peak-to-trough decline	-17.72%	-54.36%	+36.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.33%	3.64%	+4.69%

Volatility

MPWR vs. XES - Volatility Comparison

Monolithic Power Systems, Inc. (MPWR) has a higher volatility of 15.96% compared to SPDR S&P Oil & Gas Equipment & Services ETF (XES) at 8.22%. This indicates that MPWR'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.

Volatility by Period

	MPWR	XES	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.96%	8.22%	+7.74%
Volatility (6M) Calculated over the trailing 6-month period	34.34%	20.52%	+13.82%
Volatility (1Y) Calculated over the trailing 1-year period	46.46%	30.50%	+15.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.16%	39.04%	+14.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.02%	45.04%	+1.98%

Dividends

MPWR vs. XES - Dividend Comparison

MPWR's dividend yield for the trailing twelve months is around 0.40%, less than XES's 1.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MPWR Monolithic Power Systems, Inc.	0.40%	0.69%	0.85%	0.63%	0.85%	0.49%	0.55%	0.90%	1.03%	0.71%	0.98%	1.26%
XES SPDR S&P Oil & Gas Equipment & Services ETF	1.12%	1.69%	1.31%	0.66%	0.36%	1.81%	1.33%	1.43%	1.14%	1.68%	0.64%	2.47%

Frequently Asked Questions

Can I hold both MPWR and XES in my portfolio?

MPWR and XES have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MPWR or XES?

MPWR has higher volatility (15.96%) compared to XES (8.22%). In terms of maximum drawdown, MPWR dropped -72.27% vs XES's -95.65%.

Which has better risk-adjusted returns?

XES currently has the higher Sharpe Ratio (3.23 vs 3.21), 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.