SOLR vs. XES

Last updated Jun 4, 2026

SOLR (SmartETFs Sustainable Energy II ETF) and XES (SPDR S&P Oil & Gas Equipment & Services ETF) are both Energy Equities funds. SOLR is actively managed, while XES is passively managed. Over the past 5 years, SOLR returned 4.70%/yr vs 13.75%/yr for XES. At a 0.41 correlation, their price movements are largely independent. SOLR charges 0.79%/yr vs 0.35%/yr for XES.

Performance

SOLR vs. XES - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SmartETFs Sustainable Energy II ETF (SOLR) 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, SOLR achieves a 19.19% return, which is significantly lower than XES's 50.69% return.

SOLR

• 1D: -0.46%
• 1M: 7.74%
• YTD: 19.19%
• 6M: 18.35%
• 1Y: 42.02%
• 3Y*: 6.70%
• 5Y*: 4.70%
• 10Y*: —

XES

• 1D: -0.56%
• 1M: -4.59%
• YTD: 50.69%
• 6M: 43.67%
• 1Y: 97.14%
• 3Y*: 19.81%
• 5Y*: 13.75%
• 10Y*: -2.47%

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

SOLR vs. XES - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
SOLR SmartETFs Sustainable Energy II ETF	19.19%	26.72%	-12.41%	-0.78%	-11.87%	11.48%	19.67%
XES SPDR S&P Oil & Gas Equipment & Services ETF	50.69%	5.89%	-5.44%	6.68%	62.03%	12.00%	37.59%

Correlation

The correlation between SOLR and XES is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (5Y) Calculated over the trailing 5-year period	0.43
Correlation (All Time) Calculated using the full available price history since Nov 13, 2020	0.41

The correlation between SOLR and XES shifts across timeframes, from 0.31 (1 year) to 0.43 (5 years), reflecting how their relationship changes across market environments.

SOLR vs. XES - Sectors Allocation Comparison

Sectors	SOLR	XES
Industrials	46.4%	2.5%
Technology	18.5%	-
Utilities	15.0%	-
Energy	6.8%	97.5%
Basic Materials	5.4%	-
Financial Services	5.3%	-
Consumer Cyclical	2.6%	-
Communication Services	-	-
Consumer Defensive	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

SOLR vs. XES — Risk / Return Rank

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

SOLR

SOLR Risk / Return Rank: 62
SOLR Sharpe Ratio Rank: 67
SOLR Sortino Ratio Rank: 64
SOLR Omega Ratio Rank: 60
SOLR Calmar Ratio Rank: 59
SOLR Martin Ratio Rank: 59

XES

XES Risk / Return Rank: 89
XES Sharpe Ratio Rank: 91
XES Sortino Ratio Rank: 85
XES Omega Ratio Rank: 79
XES Calmar Ratio Rank: 96
XES Martin Ratio Rank: 94

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.

SOLR vs. XES - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SmartETFs Sustainable Energy II ETF (SOLR) 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.

	SOLR	XES	Difference
Sharpe ratio: Return per unit of total volatility	2.17	3.23	-1.06
Sortino ratio: Return per unit of downside risk	2.94	3.86	-0.91
Omega ratio: Gain probability vs. loss probability	1.36	1.48	-0.12
Calmar ratio: Return relative to maximum drawdown	2.89	9.93	-7.05
Martin ratio: Return relative to average drawdown	10.24	26.79	-16.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SOLR vs. XES - Sharpe Ratio Comparison

The current SOLR Sharpe Ratio is 2.17, which is lower than the XES Sharpe Ratio of 3.23. The chart below compares the historical Sharpe Ratios of SOLR 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

	SOLR	XES	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.17	3.23	-1.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.21	0.35	-0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.05	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	-0.07	+0.43

Drawdowns

SOLR vs. XES - Drawdown Comparison

The maximum SOLR drawdown since its inception was -39.46%, smaller than the maximum XES drawdown of -95.65%. Use the drawdown chart below to compare losses from any high point for SOLR and XES.

Drawdown Indicators

	SOLR	XES	Difference
Max Drawdown Largest peak-to-trough decline	-39.46%	-95.65%	+56.19%
Max Drawdown (1Y) Largest decline over 1 year	-14.63%	-9.84%	-4.79%
Max Drawdown (3Y) Largest decline over 3 years	-34.66%	-45.95%	+11.29%
Max Drawdown (5Y) Largest decline over 5 years	-39.46%	-45.95%	+6.49%
Max Drawdown (10Y) Largest decline over 10 years	—	-91.23%	—
Current Drawdown Current decline from peak	-0.46%	-70.90%	+70.44%
Average Drawdown Average peak-to-trough decline	-15.59%	-54.36%	+38.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.11%	3.64%	+0.47%

Volatility

SOLR vs. XES - Volatility Comparison

The current volatility for SmartETFs Sustainable Energy II ETF (SOLR) is 7.61%, while SPDR S&P Oil & Gas Equipment & Services ETF (XES) has a volatility of 8.22%. This indicates that SOLR 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

	SOLR	XES	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.61%	8.22%	-0.61%
Volatility (6M) Calculated over the trailing 6-month period	15.45%	20.52%	-5.07%
Volatility (1Y) Calculated over the trailing 1-year period	19.46%	30.50%	-11.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.16%	39.04%	-16.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.73%	45.04%	-22.31%

SOLR vs. XES - Expense Ratio Comparison

SOLR has a 0.79% expense ratio, which is higher than XES's 0.35% expense ratio.

Dividends

SOLR vs. XES - Dividend Comparison

SOLR's dividend yield for the trailing twelve months is around 0.56%, less than XES's 1.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SOLR SmartETFs Sustainable Energy II ETF	0.56%	0.67%	0.93%	0.42%	1.29%	2.62%	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 SOLR and XES in my portfolio?

SOLR and XES have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SOLR or XES?

XES has higher volatility (8.22%) compared to SOLR (7.61%). In terms of maximum drawdown, SOLR dropped -39.46% vs XES's -95.65%.

Which ETF is better, SOLR or XES?

On 5-year performance, XES leads with 13.75% vs 4.70% for SOLR. On fees, XES is cheaper at 0.35% per year. On volatility, SOLR has been the lower-risk option at 7.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SOLR or XES?

Over the 5-year period, XES has performed better with a 13.75% return vs 4.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SOLR or XES?

XES is cheaper with a 0.35% expense ratio, compared with 0.79% for SOLR.

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

XES has the higher dividend yield at 1.12%, compared with 0.56% for SOLR.

What is the main difference between SOLR and XES?

They also come from different issuers: SmartETFs and State Street. Their fees differ too: 0.79% for SOLR and 0.35% for XES.

Which has better risk-adjusted returns?

XES currently has the higher Sharpe Ratio (3.23 vs 2.17), 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.