PAGP vs. XLE
PAGP (Plains GP Holdings, L.P.) is a stock, while XLE (State Street Energy Select Sector SPDR ETF) is Energy Equities fund tracking the Energy Select Sector Index. Over the past 10 years, PAGP returned 6.27%/yr vs 10.08%/yr for XLE. Their 0.63 correlation means they have sometimes moved together and sometimes differently.
Performance
PAGP vs. XLE - Performance Comparison
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Returns By Period
In the year-to-date period, PAGP achieves a 43.28% return, which is significantly higher than XLE's 33.31% return. Over the past 10 years, PAGP has underperformed XLE with an annualized return of 6.27%, while XLE has yielded a comparatively higher 10.08% annualized return.
PAGP
- 1D
- -1.25%
- 1M
- 8.12%
- 6M
- 30.71%
- YTD
- 43.28%
- 1Y
- 45.65%
- 3Y*
- 27.45%
- 5Y*
- 30.06%
- 10Y*
- 6.27%
- ALL TIME*
- 0.01%
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) |
|---|---|---|---|
| $41.28M | $34.59M | $37.33M | |
| $1.70B | $1.73B | $1.97B |
PAGP vs. XLE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PAGP Plains GP Holdings, L.P. | 43.28% | 12.69% | 23.64% | 38.09% | 31.78% | 28.97% | -51.17% | 0.30% | -3.49% | -32.11% |
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 PAGP and XLE is 0.61, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.62 |
Correlation (3Y) Balances recent behavior with more history. | 0.59 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.68 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.66 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 2013 | 0.63 |
The correlation between PAGP and XLE has been stable across timeframes, ranging from 0.59 to 0.68 - a consistent structural relationship.
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Return for Risk
PAGP vs. XLE — Risk / Return Rank
PAGP
XLE
PAGP vs. XLE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Plains GP Holdings, L.P. (PAGP) 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.
| PAGP | XLE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.60 | ||
| Sortino ratioReturn per unit of downside risk | +0.79 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.32 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 3.61 | 2.79 | +0.82 |
| Martin ratioReturn relative to average drawdown | 10.03 | 7.45 | +2.58 |
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Drawdowns
PAGP vs. XLE - Drawdown Comparison
The maximum PAGP drawdown since its inception was -94.21%, which is greater than XLE's maximum drawdown of -71.26%. Use the drawdown chart below to compare losses from any high point for PAGP and XLE.
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Drawdown Indicators
| PAGP | XLE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.21% | -71.26% | -22.95% |
Max Drawdown (1Y)Largest decline over 1 year | -12.69% | -14.98% | +2.29% |
Max Drawdown (3Y)Largest decline over 3 years | -21.02% | -20.14% | -0.88% |
Max Drawdown (5Y)Largest decline over 5 years | -22.28% | -26.04% | +3.76% |
Max Drawdown (10Y)Largest decline over 10 years | -88.04% | -66.81% | -21.23% |
Current DrawdownCurrent decline from peak | -29.59% | -5.35% | -24.24% |
Average DrawdownAverage peak-to-trough decline | -57.42% | -17.93% | -39.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.56% | 5.60% | -1.04% |
Volatility
PAGP vs. XLE - Volatility Comparison
The current volatility for Plains GP Holdings, L.P. (PAGP) is 4.85%, while State Street Energy Select Sector SPDR ETF (XLE) has a volatility of 6.13%. This indicates that PAGP 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
| PAGP | XLE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.85% | 6.13% | -1.28% |
Volatility (6M)Calculated over the trailing 6-month period | 13.94% | 16.74% | -2.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.69% | 21.04% | -3.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.74% | 25.77% | +0.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 41.25% | 29.58% | +11.67% |
Dividends
PAGP vs. XLE - Dividend Comparison
PAGP's dividend yield for the trailing twelve months is around 6.28%, more than XLE's 2.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PAGP Plains GP Holdings, L.P. | 6.28% | 7.94% | 6.91% | 6.71% | 6.69% | 7.10% | 10.65% | 7.28% | 5.97% | 8.88% | 6.91% | 9.34% |
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
PAGP and XLE have a correlation of 0.61, 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 PAGP (4.85%). In terms of maximum drawdown, PAGP dropped -94.21% vs XLE's -71.26%.
PAGP currently has the higher Sharpe Ratio (2.60 vs 1.99), 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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