OILT vs. XOP

Last updated Jun 4, 2026

OILT (Texas Capital Texas Oil Index ETF) and XOP (SPDR S&P Oil & Gas Exploration & Production ETF) are both Energy Equities funds - OILT tracks the Alerian Texas Weighted Oil and Gas Index - Benchmark TR Gross while XOP tracks the S&P Oil & Gas Exploration & Production Select Industry. Both are passively managed. Over the past year, OILT returned 47.26% vs 41.73% for XOP. Their correlation of 0.95 suggests significant overlap in exposure. Both charge a 0.35% expense ratio.

Performance

OILT vs. XOP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Texas Capital Texas Oil Index ETF (OILT) and SPDR S&P Oil & Gas Exploration & Production ETF (XOP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with OILT having a 35.33% return and XOP slightly higher at 36.08%.

OILT

• 1D: 1.74%
• 1M: -4.77%
• YTD: 35.33%
• 6M: 29.79%
• 1Y: 47.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XOP

• 1D: 1.35%
• 1M: -5.46%
• YTD: 36.08%
• 6M: 26.81%
• 1Y: 41.73%
• 3Y*: 14.10%
• 5Y*: 14.86%
• 10Y*: 3.80%

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

OILT vs. XOP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
OILT Texas Capital Texas Oil Index ETF	35.33%	-3.30%	0.87%	-0.16%
XOP SPDR S&P Oil & Gas Exploration & Production ETF	36.08%	-2.15%	-1.00%	-1.20%

Correlation

The correlation between OILT and XOP is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (All Time) Calculated using the full available price history since Dec 22, 2023	0.95

The correlation between OILT and XOP has been stable across timeframes, ranging from 0.95 to 0.95 - a consistent structural relationship.

OILT vs. XOP - Sectors Allocation Comparison

Sectors	OILT	XOP
Energy	94.2%	97.2%
Utilities	5.8%	-
Basic Materials	-	2.9%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-

Return for Risk

OILT vs. XOP — Risk / Return Rank

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

OILT

OILT Risk / Return Rank: 51
OILT Sharpe Ratio Rank: 49
OILT Sortino Ratio Rank: 45
OILT Omega Ratio Rank: 42
OILT Calmar Ratio Rank: 70
OILT Martin Ratio Rank: 50

XOP

XOP Risk / Return Rank: 43
XOP Sharpe Ratio Rank: 42
XOP Sortino Ratio Rank: 38
XOP Omega Ratio Rank: 37
XOP Calmar Ratio Rank: 55
XOP Martin Ratio Rank: 43

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.

OILT vs. XOP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Texas Capital Texas Oil Index ETF (OILT) and SPDR S&P Oil & Gas Exploration & Production ETF (XOP). 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.

	OILT	XOP	Difference
Sharpe ratio: Return per unit of total volatility	1.70	1.51	+0.19
Sortino ratio: Return per unit of downside risk	2.25	2.00	+0.25
Omega ratio: Gain probability vs. loss probability	1.27	1.25	+0.02
Calmar ratio: Return relative to maximum drawdown	3.44	2.77	+0.67
Martin ratio: Return relative to average drawdown	8.37	7.10	+1.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OILT vs. XOP - Sharpe Ratio Comparison

The current OILT Sharpe Ratio is 1.70, which is comparable to the XOP Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of OILT and XOP, 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

	OILT	XOP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.70	1.51	+0.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.44	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.09	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.06	+0.36

Drawdowns

OILT vs. XOP - Drawdown Comparison

The maximum OILT drawdown since its inception was -35.21%, smaller than the maximum XOP drawdown of -90.27%. Use the drawdown chart below to compare losses from any high point for OILT and XOP.

Drawdown Indicators

	OILT	XOP	Difference
Max Drawdown Largest peak-to-trough decline	-35.21%	-90.27%	+55.06%
Max Drawdown (1Y) Largest decline over 1 year	-13.79%	-15.14%	+1.35%
Max Drawdown (3Y) Largest decline over 3 years	—	-34.98%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-34.98%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-82.61%	—
Current Drawdown Current decline from peak	-8.67%	-36.40%	+27.73%
Average Drawdown Average peak-to-trough decline	-12.93%	-42.59%	+29.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.66%	5.90%	-0.24%

Volatility

OILT vs. XOP - Volatility Comparison

Texas Capital Texas Oil Index ETF (OILT) and SPDR S&P Oil & Gas Exploration & Production ETF (XOP) have volatilities of 9.94% and 10.03%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OILT	XOP	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.94%	10.03%	-0.09%
Volatility (6M) Calculated over the trailing 6-month period	21.13%	21.64%	-0.51%
Volatility (1Y) Calculated over the trailing 1-year period	28.09%	27.81%	+0.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.72%	33.88%	-5.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.72%	40.28%	-11.56%

OILT vs. XOP - Expense Ratio Comparison

Both OILT and XOP have an expense ratio of 0.35%.

Dividends

OILT vs. XOP - Dividend Comparison

OILT's dividend yield for the trailing twelve months is around 2.43%, more than XOP's 1.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OILT Texas Capital Texas Oil Index ETF	2.43%	3.12%	2.63%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XOP SPDR S&P Oil & Gas Exploration & Production ETF	1.90%	2.62%	2.45%	2.63%	2.47%	1.61%	2.34%	1.47%	0.99%	0.76%	0.76%	2.21%

Frequently Asked Questions

Can I hold both OILT and XOP in my portfolio?

With a correlation of 0.95, OILT and XOP move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, OILT or XOP?

XOP has higher volatility (10.03%) compared to OILT (9.94%). In terms of maximum drawdown, OILT dropped -35.21% vs XOP's -90.27%.

Which ETF is better, OILT or XOP?

On 1-year performance, OILT leads with 47.26% vs 41.73% for XOP. Both ETFs have the same 0.35% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OILT or XOP?

Over the 1-year period, OILT has performed better with a 47.26% return vs 41.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OILT or XOP?

OILT and XOP have the same expense ratio: 0.35% per year.

Which ETF pays a higher dividend yield, OILT or XOP?

OILT has the higher dividend yield at 2.43%, compared with 1.90% for XOP.

What is the main difference between OILT and XOP?

OILT tracks Alerian Texas Weighted Oil and Gas Index - Benchmark TR Gross, while XOP tracks S&P Oil & Gas Exploration & Production Select Industry. They also come from different issuers: Texas Capital and State Street.

Which has better risk-adjusted returns?

OILT currently has the higher Sharpe Ratio (1.70 vs 1.51), 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.