MXISX vs. XLE
MXISX (Great-West S&P Small Cap 600 Index Fund) and XLE (State Street Energy Select Sector SPDR ETF) are both funds - MXISX is a Small Cap Blend Equities fund managed by Great-West, while XLE is a Energy Equities fund tracking the Energy Select Sector Index. Over the past 10 years, MXISX returned 9.98%/yr vs 10.08%/yr for XLE. Their 0.53 correlation means they have sometimes moved together and sometimes differently. MXISX charges 0.56%/yr vs 0.08%/yr for XLE.
Performance
MXISX vs. XLE - Performance Comparison
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Returns By Period
In the year-to-date period, MXISX achieves a 21.15% return, which is significantly lower than XLE's 33.31% return. Both investments have delivered pretty close results over the past 10 years, with MXISX having a 9.98% annualized return and XLE not far ahead at 10.08%.
MXISX
- 1D
- -0.06%
- 1M
- -0.76%
- 6M
- 13.50%
- YTD
- 21.15%
- 1Y
- 32.90%
- 3Y*
- 12.52%
- 5Y*
- 6.69%
- 10Y*
- 9.98%
- ALL TIME*
- 4.94%
XLE
- 1D
- -1.28%
- 1M
- 10.47%
- 6M
- 19.08%
- YTD
- 33.31%
- 1Y
- 41.66%
- 3Y*
- 14.20%
- 5Y*
- 23.80%
- 10Y*
- 10.08%
- ALL TIME*
- 8.81%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $1.70B | $1.73B | $1.97B |
MXISX vs. XLE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MXISX Great-West S&P Small Cap 600 Index Fund | 21.15% | 5.53% | 7.87% | 14.61% | -16.60% | 26.08% | 10.73% | 21.46% | -9.22% | 11.80% |
XLE State Street Energy Select Sector SPDR ETF | 33.31% | 7.88% | 5.56% | -0.63% | 64.32% | 53.28% | -32.67% | 11.74% | -18.22% | -0.89% |
Correlation
The correlation between MXISX and XLE is -0.03, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.03 |
Correlation (3Y) Balances recent behavior with more history. | 0.23 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.36 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.49 |
Correlation (All Time) Calculated using the full available price history since Dec 22, 1998 | 0.53 |
The correlation between MXISX and XLE shifts across timeframes, from -0.03 (1 year) to 0.53 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MXISX vs. XLE — Risk / Return Rank
MXISX
XLE
MXISX vs. XLE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Great-West S&P Small Cap 600 Index Fund (MXISX) 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.
| MXISX | XLE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.32 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.83 | 2.79 | +1.04 |
| Martin ratioReturn relative to average drawdown | 13.13 | 7.45 | +5.68 |
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Drawdowns
MXISX vs. XLE - Drawdown Comparison
The maximum MXISX drawdown since its inception was -70.66%, roughly equal to the maximum XLE drawdown of -71.26%. Use the drawdown chart below to compare losses from any high point for MXISX and XLE.
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Drawdown Indicators
| MXISX | XLE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.66% | -71.26% | +0.60% |
Max Drawdown (1Y)Largest decline over 1 year | -8.75% | -14.98% | +6.23% |
Max Drawdown (3Y)Largest decline over 3 years | -28.07% | -20.14% | -7.93% |
Max Drawdown (5Y)Largest decline over 5 years | -28.07% | -26.04% | -2.03% |
Max Drawdown (10Y)Largest decline over 10 years | -44.78% | -66.81% | +22.03% |
Current DrawdownCurrent decline from peak | -1.94% | -5.35% | +3.41% |
Average DrawdownAverage peak-to-trough decline | -21.75% | -17.93% | -3.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.55% | 5.60% | -3.05% |
Volatility
MXISX vs. XLE - Volatility Comparison
The current volatility for Great-West S&P Small Cap 600 Index Fund (MXISX) is 3.43%, while State Street Energy Select Sector SPDR ETF (XLE) has a volatility of 6.13%. This indicates that MXISX experiences smaller price fluctuations and is considered to be less risky than XLE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MXISX | XLE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.43% | 6.13% | -2.70% |
Volatility (6M)Calculated over the trailing 6-month period | 11.66% | 16.74% | -5.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.10% | 21.04% | -3.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.59% | 25.77% | -4.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.81% | 29.58% | -5.77% |
MXISX vs. XLE - Expense Ratio Comparison
MXISX has a 0.56% expense ratio, which is higher than XLE's 0.08% expense ratio.
Dividends
MXISX vs. XLE - Dividend Comparison
MXISX's dividend yield for the trailing twelve months is around 6.15%, more than XLE's 2.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MXISX Great-West S&P Small Cap 600 Index Fund | 6.15% | 7.45% | 4.53% | 2.41% | 6.55% | 10.79% | 6.55% | 6.71% | 14.30% | 8.68% | 4.94% | 10.96% |
XLE State Street Energy Select Sector SPDR ETF | 2.58% | 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
MXISX and XLE have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XLE has higher volatility (6.13%) compared to MXISX (3.43%). In terms of maximum drawdown, MXISX dropped -70.66% vs XLE's -71.26%.
XLE currently has the higher Sharpe Ratio (1.99 vs 1.97), 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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