RNWZ vs. XES

Last updated Jun 3, 2026

RNWZ (TrueShares Eagle Global Renewable Energy Income ETF) and XES (SPDR S&P Oil & Gas Equipment & Services ETF) are both Energy Equities funds. RNWZ is actively managed, while XES is passively managed. Over the past 3 years, RNWZ returned 12.56%/yr vs 20.03%/yr for XES. At a 0.28 correlation, their price movements are largely independent. RNWZ charges 0.75%/yr vs 0.35%/yr for XES.

Performance

RNWZ vs. XES - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TrueShares Eagle Global Renewable Energy Income ETF (RNWZ) and SPDR S&P Oil & Gas Equipment & Services ETF (XES). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RNWZ achieves a 16.05% return, which is significantly lower than XES's 51.54% return.

RNWZ

• 1D: 0.87%
• 1M: -4.57%
• YTD: 16.05%
• 6M: 17.19%
• 1Y: 37.97%
• 3Y*: 12.56%
• 5Y*: —
• 10Y*: —

XES

• 1D: 2.58%
• 1M: -3.51%
• YTD: 51.54%
• 6M: 51.49%
• 1Y: 106.77%
• 3Y*: 20.03%
• 5Y*: 14.11%
• 10Y*: -2.41%

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

RNWZ vs. XES - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
RNWZ TrueShares Eagle Global Renewable Energy Income ETF	16.05%	36.33%	-7.36%	-3.89%	-0.19%
XES SPDR S&P Oil & Gas Equipment & Services ETF	51.54%	5.89%	-5.44%	6.68%	14.51%

Correlation

The correlation between RNWZ and XES is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (All Time) Calculated using the full available price history since Dec 12, 2022	0.28

RNWZ vs. XES - Sectors Allocation Comparison

Sectors	RNWZ	XES
Utilities	41.0%	-
Financial Services	6.9%	-
Industrials	5.3%	2.5%
Basic Materials	4.5%	-
Energy	3.8%	97.5%
Real Estate	3.2%	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Healthcare	-	-
Technology	-	-

Return for Risk

RNWZ vs. XES — Risk / Return Rank

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

RNWZ

RNWZ Risk / Return Rank: 79
RNWZ Sharpe Ratio Rank: 77
RNWZ Sortino Ratio Rank: 74
RNWZ Omega Ratio Rank: 74
RNWZ Calmar Ratio Rank: 92
RNWZ Martin Ratio Rank: 79

XES

XES Risk / Return Rank: 92
XES Sharpe Ratio Rank: 93
XES Sortino Ratio Rank: 89
XES Omega Ratio Rank: 84
XES Calmar Ratio Rank: 97
XES Martin Ratio Rank: 95

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.

RNWZ vs. XES - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrueShares Eagle Global Renewable Energy Income ETF (RNWZ) and SPDR S&P Oil & Gas Equipment & Services ETF (XES). 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.

	RNWZ	XES	Difference
Sharpe ratio Return per unit of total volatility	2.53	3.52	-0.99
Sortino ratio Return per unit of downside risk	3.39	4.12	-0.73
Omega ratio Gain probability vs. loss probability	1.45	1.51	-0.07
Calmar ratio Return relative to maximum drawdown	6.33	11.21	-4.88
Martin ratio Return relative to average drawdown	15.73	30.56	-14.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RNWZ vs. XES - Sharpe Ratio Comparison

The current RNWZ Sharpe Ratio is 2.53, which is comparable to the XES Sharpe Ratio of 3.52. The chart below compares the historical Sharpe Ratios of RNWZ and XES, 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

	RNWZ	XES	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.53	3.52	-0.99
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.36	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.05	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	-0.07	+0.68

Drawdowns

RNWZ vs. XES - Drawdown Comparison

The maximum RNWZ drawdown since its inception was -24.90%, smaller than the maximum XES drawdown of -95.65%. Use the drawdown chart below to compare losses from any high point for RNWZ and XES.

Drawdown Indicators

	RNWZ	XES	Difference
Max Drawdown Largest peak-to-trough decline	-24.90%	-95.65%	+70.75%
Max Drawdown (1Y) Largest decline over 1 year	-6.06%	-9.84%	+3.78%
Max Drawdown (3Y) Largest decline over 3 years	-24.74%	-45.95%	+21.21%
Max Drawdown (5Y) Largest decline over 5 years	—	-45.95%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-91.23%	—
Current Drawdown Current decline from peak	-4.65%	-70.73%	+66.08%
Average Drawdown Average peak-to-trough decline	-7.19%	-54.36%	+47.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.44%	3.61%	-1.17%

Volatility

RNWZ vs. XES - Volatility Comparison

The current volatility for TrueShares Eagle Global Renewable Energy Income ETF (RNWZ) is 5.33%, while SPDR S&P Oil & Gas Equipment & Services ETF (XES) has a volatility of 8.25%. This indicates that RNWZ experiences smaller price fluctuations and is considered to be less risky than XES based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RNWZ	XES	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.33%	8.25%	-2.92%
Volatility (6M) Calculated over the trailing 6-month period	11.94%	20.51%	-8.57%
Volatility (1Y) Calculated over the trailing 1-year period	15.06%	30.52%	-15.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.00%	39.04%	-22.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.00%	45.05%	-28.05%

RNWZ vs. XES - Expense Ratio Comparison

RNWZ has a 0.75% expense ratio, which is higher than XES's 0.35% expense ratio.

Dividends

RNWZ vs. XES - Dividend Comparison

RNWZ's dividend yield for the trailing twelve months is around 1.93%, more than XES's 1.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RNWZ TrueShares Eagle Global Renewable Energy Income ETF	1.93%	2.12%	2.36%	3.87%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XES SPDR S&P Oil & Gas Equipment & Services ETF	1.12%	1.69%	1.31%	0.66%	0.36%	1.81%	1.33%	1.43%	1.14%	1.68%	0.64%	2.47%

Frequently Asked Questions

Can I hold both RNWZ and XES in my portfolio?

RNWZ and XES have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RNWZ or XES?

XES has higher volatility (8.25%) compared to RNWZ (5.33%). In terms of maximum drawdown, RNWZ dropped -24.90% vs XES's -95.65%.

Which ETF is better, RNWZ or XES?

On 3-year performance, XES leads with 20.03% vs 12.56% for RNWZ. On fees, XES is cheaper at 0.35% per year. On volatility, RNWZ has been the lower-risk option at 5.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RNWZ or XES?

Over the 3-year period, XES has performed better with a 20.03% return vs 12.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RNWZ or XES?

XES is cheaper with a 0.35% expense ratio, compared with 0.75% for RNWZ.

Which ETF pays a higher dividend yield, RNWZ or XES?

RNWZ has the higher dividend yield at 1.93%, compared with 1.12% for XES.

What is the main difference between RNWZ and XES?

They also come from different issuers: TrueShares and State Street. Their fees differ too: 0.75% for RNWZ and 0.35% for XES.

Which has better risk-adjusted returns?

XES currently has the higher Sharpe Ratio (3.52 vs 2.53), 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.