NVIR vs. XLEI

Last updated Jun 4, 2026

NVIR (Horizon Kinetics Energy Remediation ETF) and XLEI (State Street Energy Select Sector SPDR Premium Income ETF) are both Energy Equities funds. NVIR is actively managed, while XLEI is passively managed. A 0.75 correlation means they provide meaningful diversification when combined. NVIR charges 0.85%/yr vs 0.35%/yr for XLEI.

Performance

NVIR vs. XLEI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon Kinetics Energy Remediation ETF (NVIR) and State Street Energy Select Sector SPDR Premium Income ETF (XLEI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NVIR achieves a 22.17% return, which is significantly higher than XLEI's 20.42% return.

NVIR

• 1D: 0.66%
• 1M: -1.59%
• YTD: 22.17%
• 6M: 19.29%
• 1Y: 34.67%
• 3Y*: 19.49%
• 5Y*: —
• 10Y*: —

XLEI

• 1D: 1.05%
• 1M: 1.40%
• YTD: 20.42%
• 6M: 20.06%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NVIR vs. XLEI - Yearly Performance Comparison

	2026 (YTD)	2025
NVIR Horizon Kinetics Energy Remediation ETF	22.17%	7.91%
XLEI State Street Energy Select Sector SPDR Premium Income ETF	20.42%	6.77%

Correlation

The correlation between NVIR and XLEI is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 31, 2025	0.75

NVIR vs. XLEI - Sectors Allocation Comparison

Sectors	NVIR	XLEI
Energy	78.9%	-
Industrials	11.1%	-
Utilities	3.1%	-
Technology	2.6%	-
Basic Materials	1.6%	-
Healthcare	1.1%	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	100.3%
Real Estate	-	-

Return for Risk

NVIR vs. XLEI — Risk / Return Rank

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

NVIR

NVIR Risk / Return Rank: 70
NVIR Sharpe Ratio Rank: 66
NVIR Sortino Ratio Rank: 62
NVIR Omega Ratio Rank: 62
NVIR Calmar Ratio Rank: 87
NVIR Martin Ratio Rank: 75

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.

NVIR vs. XLEI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Kinetics Energy Remediation ETF (NVIR) and State Street Energy Select Sector SPDR Premium Income ETF (XLEI). 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.

	NVIR	XLEI	Difference
Sharpe ratio Return per unit of total volatility	2.18	—	—
Sortino ratio Return per unit of downside risk	2.88	—	—
Omega ratio Gain probability vs. loss probability	1.37	—	—
Calmar ratio Return relative to maximum drawdown	4.95	—	—
Martin ratio Return relative to average drawdown	14.32	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	NVIR	XLEI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.18	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.90	2.65	-1.75

Drawdowns

NVIR vs. XLEI - Drawdown Comparison

The maximum NVIR drawdown since its inception was -22.47%, which is greater than XLEI's maximum drawdown of -7.98%. Use the drawdown chart below to compare losses from any high point for NVIR and XLEI.

Drawdown Indicators

	NVIR	XLEI	Difference
Max Drawdown Largest peak-to-trough decline	-22.47%	-7.98%	-14.49%
Max Drawdown (1Y) Largest decline over 1 year	-7.04%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-22.47%	—	—
Current Drawdown Current decline from peak	-3.08%	-0.97%	-2.11%
Average Drawdown Average peak-to-trough decline	-4.58%	-1.52%	-3.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.43%	—	—

Volatility

Volatility by Period

	NVIR	XLEI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.78%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.26%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	16.05%	13.16%	+2.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.24%	13.16%	+6.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.24%	13.16%	+6.08%

NVIR vs. XLEI - Expense Ratio Comparison

NVIR has a 0.85% expense ratio, which is higher than XLEI's 0.35% expense ratio.

Dividends

NVIR vs. XLEI - Dividend Comparison

NVIR's dividend yield for the trailing twelve months is around 0.75%, less than XLEI's 16.59% yield.

Position	TTM	2025	2024	2023
NVIR Horizon Kinetics Energy Remediation ETF	0.75%	0.92%	1.50%	1.34%
XLEI State Street Energy Select Sector SPDR Premium Income ETF	16.59%	10.17%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NVIR and XLEI in my portfolio?

NVIR and XLEI have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NVIR or XLEI?

On fees, XLEI is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NVIR or XLEI?

XLEI is cheaper with a 0.35% expense ratio, compared with 0.85% for NVIR.

Which ETF pays a higher dividend yield, NVIR or XLEI?

XLEI has the higher dividend yield at 16.59%, compared with 0.75% for NVIR.

What is the main difference between NVIR and XLEI?

They also come from different issuers: Horizon and State Street. Their fees differ too: 0.85% for NVIR and 0.35% for XLEI.