NVIR vs. XLEI

Last updated Apr 1, 2026

Compare and contrast key facts about Horizon Kinetics Energy Remediation ETF (NVIR) and State Street Energy Select Sector SPDR Premium Income ETF (XLEI).

NVIR and XLEI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. NVIR is an actively managed fund by Horizon. It was launched on Feb 21, 2023. XLEI is a passively managed fund by State Street that tracks the performance of the S&P Energy Select Sector. It was launched on Jul 29, 2025.

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.

NVIR vs. XLEI - Yearly Performance Comparison

	2026 (YTD)	2025
NVIR Horizon Kinetics Energy Remediation ETF	23.20%	7.91%
XLEI State Street Energy Select Sector SPDR Premium Income ETF	20.48%	6.77%

Returns By Period

In the year-to-date period, NVIR achieves a 23.20% return, which is significantly higher than XLEI's 20.48% return.

NVIR

• 1D: 0.04%
• 1M: 2.38%
• YTD: 23.20%
• 6M: 25.81%
• 1Y: 33.29%
• 3Y*: 20.14%
• 5Y*: —
• 10Y*: —

XLEI

• 1D: -0.66%
• 1M: 7.60%
• YTD: 20.48%
• 6M: 24.96%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NVIR vs. XLEI - Expense Ratio Comparison

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

NVIR

Horizon Kinetics Energy Remediation ETF

XLEI

State Street Energy Select Sector SPDR Premium Income ETF

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: 77
NVIR Sharpe Ratio Rank: 79
NVIR Sortino Ratio Rank: 76
NVIR Omega Ratio Rank: 82
NVIR Calmar Ratio Rank: 73
NVIR Martin Ratio Rank: 77

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	1.52	—	—
Sortino ratio Return per unit of downside risk	1.96	—	—
Omega ratio Gain probability vs. loss probability	1.32	—	—
Calmar ratio Return relative to maximum drawdown	1.94	—	—
Martin ratio Return relative to average drawdown	8.38	—	—
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	1.52	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.97	4.03	-3.05

Correlation

The correlation between NVIR and XLEI is 0.72, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

NVIR vs. XLEI - Dividend Comparison

NVIR's dividend yield for the trailing twelve months is around 0.74%, less than XLEI's 11.17% yield.

	TTM	2025	2024	2023
NVIR Horizon Kinetics Energy Remediation ETF	0.74%	0.92%	1.50%	1.34%
XLEI State Street Energy Select Sector SPDR Premium Income ETF	11.17%	10.17%	0.00%	0.00%

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 -5.31%. 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%	-5.31%	-17.16%
Max Drawdown (1Y) Largest decline over 1 year	-17.59%	—	—
Current Drawdown Current decline from peak	-2.27%	-0.92%	-1.35%
Average Drawdown Average peak-to-trough decline	-4.62%	-0.93%	-3.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.08%	—	—

Volatility

Volatility by Period

	NVIR	XLEI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.25%	—	—
Volatility (6M) Calculated over the trailing 6-month period	11.67%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	22.04%	11.43%	+10.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.26%	11.43%	+7.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.26%	11.43%	+7.83%