MXREX vs. XLE
MXREX (Great-West Real Estate Index Fund) and XLE (State Street Energy Select Sector SPDR ETF) are both funds - MXREX is a REIT fund managed by Great-West, while XLE is a Energy Equities fund tracking the Energy Select Sector Index. Over the past 10 years, MXREX returned 4.21%/yr vs 9.37%/yr for XLE. At a 0.29 correlation, their price movements are largely independent. MXREX charges 0.70%/yr vs 0.08%/yr for XLE.
Performance
MXREX vs. XLE - Performance Comparison
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Returns By Period
In the year-to-date period, MXREX achieves a 15.55% return, which is significantly lower than XLE's 23.49% return. Over the past 10 years, MXREX has underperformed XLE with an annualized return of 4.21%, while XLE has yielded a comparatively higher 9.37% annualized return.
MXREX
- 1D
- 1.36%
- 1M
- 0.64%
- YTD
- 15.55%
- 6M
- 15.86%
- 1Y
- 18.03%
- 3Y*
- 13.16%
- 5Y*
- 4.48%
- 10Y*
- 4.21%
XLE
- 1D
- 0.74%
- 1M
- -7.80%
- YTD
- 23.49%
- 6M
- 24.07%
- 1Y
- 30.55%
- 3Y*
- 15.73%
- 5Y*
- 18.87%
- 10Y*
- 9.37%
MXREX vs. XLE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MXREX Great-West Real Estate Index Fund | 15.55% | 3.16% | 7.47% | 13.31% | -26.44% | 45.80% | -12.52% | 22.41% | -4.92% | 2.25% |
XLE State Street Energy Select Sector SPDR ETF | 23.49% | 7.88% | 5.56% | -0.63% | 64.32% | 53.28% | -32.67% | 11.74% | -18.22% | -0.89% |
Correlation
The correlation between MXREX and XLE is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.23 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2013 | 0.29 |
Over the past year, the correlation between MXREX and XLE has dropped to 0.08 - well below their long-term average of 0.29, suggesting their price drivers have been diverging.
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Return for Risk
MXREX vs. XLE — Risk / Return Rank
MXREX
XLE
MXREX vs. XLE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Great-West Real Estate Index Fund (MXREX) 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.
| MXREX | XLE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.25 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.59 | 2.18 | +0.40 |
| Martin ratioReturn relative to average drawdown | 8.56 | 6.53 | +2.03 |
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Drawdowns
MXREX vs. XLE - Drawdown Comparison
The maximum MXREX drawdown since its inception was -43.89%, smaller than the maximum XLE drawdown of -71.26%. Use the drawdown chart below to compare losses from any high point for MXREX and XLE.
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Drawdown Indicators
| MXREX | XLE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.89% | -71.26% | +27.37% |
Max Drawdown (1Y)Largest decline over 1 year | -7.73% | -14.05% | +6.32% |
Max Drawdown (3Y)Largest decline over 3 years | -18.79% | -20.14% | +1.35% |
Max Drawdown (5Y)Largest decline over 5 years | -33.06% | -26.04% | -7.02% |
Max Drawdown (10Y)Largest decline over 10 years | -43.89% | -66.81% | +22.92% |
Current DrawdownCurrent decline from peak | -1.33% | -12.32% | +10.99% |
Average DrawdownAverage peak-to-trough decline | -11.59% | -17.96% | +6.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.31% | 4.69% | -2.38% |
Volatility
MXREX vs. XLE - Volatility Comparison
The current volatility for Great-West Real Estate Index Fund (MXREX) is 5.29%, while State Street Energy Select Sector SPDR ETF (XLE) has a volatility of 7.12%. This indicates that MXREX 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
| MXREX | XLE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.29% | 7.12% | -1.83% |
Volatility (6M)Calculated over the trailing 6-month period | 10.21% | 16.82% | -6.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.94% | 20.93% | -6.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.37% | 25.98% | -6.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.98% | 29.60% | -7.62% |
MXREX vs. XLE - Expense Ratio Comparison
MXREX has a 0.70% expense ratio, which is higher than XLE's 0.08% expense ratio.
Dividends
MXREX vs. XLE - Dividend Comparison
MXREX's dividend yield for the trailing twelve months is around 1.79%, less than XLE's 2.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MXREX Great-West Real Estate Index Fund | 1.79% | 2.07% | 6.74% | 1.85% | 4.69% | 1.93% | 1.60% | 4.51% | 4.10% | 3.36% | 0.00% | 0.00% |
XLE State Street Energy Select Sector SPDR ETF | 2.79% | 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
MXREX and XLE have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XLE has higher volatility (7.12%) compared to MXREX (5.29%). In terms of maximum drawdown, MXREX dropped -43.89% vs XLE's -71.26%.
XLE currently has the higher Sharpe Ratio (1.48 vs 1.44), 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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