SAP vs. IXC
SAP (SAP SE) is a stock, while IXC (iShares Global Energy ETF) is Energy Equities fund tracking the S&P Global Energy Sector Index. Over the past 10 years, SAP returned 10.30%/yr vs 10.08%/yr for IXC. At a 0.40 correlation, their price movements are largely independent.
Performance
SAP vs. IXC - Performance Comparison
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Returns By Period
In the year-to-date period, SAP achieves a -21.62% return, which is significantly lower than IXC's 32.12% return. Both investments have delivered pretty close results over the past 10 years, with SAP having a 10.30% annualized return and IXC not far behind at 10.08%.
SAP
- 1D
- 3.58%
- 1M
- 8.56%
- YTD
- -21.62%
- 6M
- -22.44%
- 1Y
- -38.45%
- 3Y*
- 13.93%
- 5Y*
- 7.66%
- 10Y*
- 10.30%
IXC
- 1D
- -0.07%
- 1M
- -1.98%
- YTD
- 32.12%
- 6M
- 29.58%
- 1Y
- 50.36%
- 3Y*
- 19.06%
- 5Y*
- 19.62%
- 10Y*
- 10.08%
SAP vs. IXC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SAP SAP SE | -21.62% | -0.48% | 61.27% | 52.30% | -24.64% | 9.22% | -1.28% | 36.43% | -10.04% | 31.25% |
IXC iShares Global Energy ETF | 32.12% | 13.98% | 1.95% | 3.92% | 48.51% | 40.88% | -31.00% | 12.67% | -14.85% | 5.54% |
Correlation
The correlation between SAP and IXC is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Nov 19, 2001 | 0.40 |
The correlation between SAP and IXC shifts across timeframes, from -0.11 (1 year) to 0.40 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SAP vs. IXC — Risk / Return Rank
SAP
IXC
SAP vs. IXC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SAP SE (SAP) and iShares Global Energy ETF (IXC). 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.
| SAP | IXC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.86 | ||
| Sortino ratioReturn per unit of downside risk | -4.98 | ||
| Omega ratioGain probability vs. loss probability | 0.79 | 1.44 | -0.65 |
| Calmar ratioReturn relative to maximum drawdown | -0.81 | 5.24 | -6.04 |
| Martin ratioReturn relative to average drawdown | -1.40 | 15.73 | -17.13 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SAP | IXC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.14 | 2.71 | -3.86 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.27 | 0.84 | -0.57 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.36 | 0.38 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.15 | 0.32 | -0.17 |
Drawdowns
SAP vs. IXC - Drawdown Comparison
The maximum SAP drawdown since its inception was -87.91%, which is greater than IXC's maximum drawdown of -67.88%. Use the drawdown chart below to compare losses from any high point for SAP and IXC.
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Drawdown Indicators
| SAP | IXC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.91% | -67.88% | -20.03% |
Max Drawdown (1Y)Largest decline over 1 year | -47.71% | -9.66% | -38.05% |
Max Drawdown (3Y)Largest decline over 3 years | -47.71% | -19.06% | -28.65% |
Max Drawdown (5Y)Largest decline over 5 years | -47.71% | -24.93% | -22.78% |
Max Drawdown (10Y)Largest decline over 10 years | -51.31% | -64.16% | +12.85% |
Current DrawdownCurrent decline from peak | -38.96% | -4.91% | -34.05% |
Average DrawdownAverage peak-to-trough decline | -28.23% | -17.48% | -10.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 27.51% | 3.21% | +24.30% |
Volatility
SAP vs. IXC - Volatility Comparison
SAP SE (SAP) has a higher volatility of 13.56% compared to iShares Global Energy ETF (IXC) at 7.50%. This indicates that SAP's price experiences larger fluctuations and is considered to be riskier than IXC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SAP | IXC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.56% | 7.50% | +6.06% |
Volatility (6M)Calculated over the trailing 6-month period | 30.04% | 15.38% | +14.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.75% | 18.73% | +15.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.63% | 23.50% | +5.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.31% | 26.85% | +1.46% |
Dividends
SAP vs. IXC - Dividend Comparison
SAP's dividend yield for the trailing twelve months is around 1.57%, less than IXC's 2.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IXC iShares Global Energy ETF | 2.79% | 3.68% | 4.56% | 3.45% | 4.76% | 3.98% | 4.86% | 7.00% | 3.51% | 3.05% | 2.86% | 3.77% |
SAP SAP SE | 1.57% | 1.05% | 0.97% | 1.41% | 2.05% | 1.56% | 1.31% | 1.27% | 1.73% | 0.87% | 1.08% | 1.11% |
Frequently Asked Questions
SAP and IXC have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SAP has higher volatility (13.56%) compared to IXC (7.50%). In terms of maximum drawdown, SAP dropped -87.91% vs IXC's -67.88%.
IXC currently has the higher Sharpe Ratio (2.71 vs -1.14), 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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