PXE vs. XLG
PXE (Invesco Dynamic Energy Exploration & Production ETF) and XLG (Invesco S&P 500 Top 50 ETF) are both exchange-traded funds - PXE is a Energy Equities fund tracking the Dynamic Energy Exploration & Production Intellidex Index, while XLG is a S&P 500 fund tracking the S&P 500 Top 50 Index. Both are passively managed. Over the past 10 years, PXE returned 9.15%/yr vs 16.44%/yr for XLG. Their 0.47 correlation means their historical movements had little consistent relationship. PXE charges 0.63%/yr vs 0.20%/yr for XLG.
Performance
PXE vs. XLG - Performance Comparison
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Returns By Period
In the year-to-date period, PXE achieves a 37.35% return, which is significantly higher than XLG's 4.68% return. Over the past 10 years, PXE has underperformed XLG with an annualized return of 9.15%, while XLG has yielded a comparatively higher 16.44% annualized return.
PXE
- 1D
- -1.42%
- 1M
- 11.73%
- 6M
- 30.07%
- YTD
- 37.35%
- 1Y
- 40.97%
- 3Y*
- 9.38%
- 5Y*
- 23.28%
- 10Y*
- 9.15%
- ALL TIME*
- 6.40%
XLG
- 1D
- 1.74%
- 1M
- 1.81%
- 6M
- 4.68%
- YTD
- 4.68%
- 1Y
- 17.86%
- 3Y*
- 21.61%
- 5Y*
- 14.02%
- 10Y*
- 16.44%
- ALL TIME*
- 11.40%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.19M | $1.10M | $1.96M | |
| $59.56M | $59.06M | $102.51M |
PXE vs. XLG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PXE Invesco Dynamic Energy Exploration & Production ETF | 37.35% | -2.82% | -1.86% | 7.69% | 58.32% | 94.04% | -36.76% | -1.69% | -23.35% | 1.02% |
XLG Invesco S&P 500 Top 50 ETF | 4.68% | 19.51% | 33.49% | 38.16% | -24.29% | 30.77% | 24.15% | 32.04% | -3.59% | 23.04% |
Correlation
The correlation between PXE and XLG is -0.18, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.18 |
Correlation (3Y) Balances recent behavior with more history. | 0.07 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.22 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.31 |
Correlation (All Time) Calculated using the full available price history since Oct 26, 2005 | 0.47 |
The correlation between PXE and XLG shifts across timeframes, from -0.18 (1 year) to 0.47 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PXE vs. XLG — Risk / Return Rank
PXE
XLG
PXE vs. XLG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Energy Exploration & Production ETF (PXE) and Invesco S&P 500 Top 50 ETF (XLG). 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.
| PXE | XLG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.28 | ||
| Sortino ratioReturn per unit of downside risk | +0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.22 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.47 | 1.44 | +1.02 |
| Martin ratioReturn relative to average drawdown | 5.86 | 4.49 | +1.36 |
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Drawdowns
PXE vs. XLG - Drawdown Comparison
The maximum PXE drawdown since its inception was -83.99%, which is greater than XLG's maximum drawdown of -52.39%. Use the drawdown chart below to compare losses from any high point for PXE and XLG.
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Drawdown Indicators
| PXE | XLG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.99% | -52.39% | -31.60% |
Max Drawdown (1Y)Largest decline over 1 year | -16.70% | -12.41% | -4.29% |
Max Drawdown (3Y)Largest decline over 3 years | -37.65% | -20.70% | -16.95% |
Max Drawdown (5Y)Largest decline over 5 years | -37.65% | -28.02% | -9.63% |
Max Drawdown (10Y)Largest decline over 10 years | -80.17% | -30.46% | -49.71% |
Current DrawdownCurrent decline from peak | -5.00% | -4.09% | -0.91% |
Average DrawdownAverage peak-to-trough decline | -27.85% | -7.62% | -20.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.01% | 3.98% | +3.03% |
Volatility
PXE vs. XLG - Volatility Comparison
Invesco Dynamic Energy Exploration & Production ETF (PXE) has a higher volatility of 8.10% compared to Invesco S&P 500 Top 50 ETF (XLG) at 5.30%. This indicates that PXE's price experiences larger fluctuations and is considered to be riskier than XLG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PXE | XLG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.10% | 5.30% | +2.80% |
Volatility (6M)Calculated over the trailing 6-month period | 21.59% | 11.66% | +9.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.57% | 14.73% | +12.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.26% | 18.91% | +14.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.95% | 18.93% | +18.02% |
PXE vs. XLG - Expense Ratio Comparison
PXE has a 0.63% expense ratio, which is higher than XLG's 0.20% expense ratio.
Dividends
PXE vs. XLG - Dividend Comparison
PXE's dividend yield for the trailing twelve months is around 1.74%, more than XLG's 0.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PXE Invesco Dynamic Energy Exploration & Production ETF | 1.74% | 2.98% | 2.54% | 2.78% | 3.03% | 1.86% | 4.10% | 1.70% | 1.29% | 1.54% | 6.62% | 2.58% |
XLG Invesco S&P 500 Top 50 ETF | 0.64% | 0.64% | 0.72% | 0.97% | 1.34% | 0.94% | 1.25% | 1.58% | 2.00% | 1.85% | 2.00% | 2.09% |
Frequently Asked Questions
PXE and XLG have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PXE has higher volatility (8.10%) compared to XLG (5.30%). In terms of maximum drawdown, PXE dropped -83.99% vs XLG's -52.39%.
On 10-year performance, XLG leads with 16.44% vs 9.15% for PXE. On fees, XLG is cheaper at 0.20% per year. On volatility, XLG has been the lower-risk option at 5.30%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, XLG has performed better with a 16.44% return vs 9.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XLG is cheaper with a 0.20% expense ratio, compared with 0.63% for PXE.
PXE has the higher dividend yield at 1.74%, compared with 0.64% for XLG.
PXE is categorized as Energy Equities, while XLG is S&P 500. PXE tracks Dynamic Energy Exploration & Production Intellidex Index, while XLG tracks S&P 500 Top 50 Index. Their fees differ too: 0.63% for PXE and 0.20% for XLG.
PXE currently has the higher Sharpe Ratio (1.50 vs 1.22), 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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