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SPMD vs. XLE
Performance
Return for Risk
Dividends
Drawdowns
Volatility

SPMD vs. XLE

Last updated Apr 1, 2026

Compare and contrast key facts about SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) and State Street Energy Select Sector SPDR ETF (XLE).

SPMD and XLE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPMD is a passively managed fund by State Street that tracks the performance of the S&P MidCap 400 Index. It was launched on Nov 8, 2005. XLE is a passively managed fund by State Street that tracks the performance of the Energy Select Sector Index. It was launched on Dec 16, 1998. Both SPMD and XLE are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

SPMD vs. XLE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) and State Street Energy Select Sector SPDR ETF (XLE). The values are adjusted to include any dividend payments, if applicable.

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SPMD vs. XLE - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SPMD
SPDR Portfolio S&P 400 Mid Cap ETF		2.59%7.44%13.91%16.48%-13.13%24.76%13.46%25.19%-10.34%15.12%
XLE
State Street Energy Select Sector SPDR ETF		37.91%7.88%5.56%-0.63%64.32%53.28%-32.67%11.74%-18.22%-0.89%

Returns By Period

In the year-to-date period, SPMD achieves a 2.59% return, which is significantly lower than XLE's 37.91% return. Over the past 10 years, SPMD has underperformed XLE with an annualized return of 10.73%, while XLE has yielded a comparatively higher 11.65% annualized return.

SPMD

1D
2.99%
1M
-5.29%
YTD
2.59%
6M
4.27%
1Y
17.37%
3Y*
12.11%
5Y*
6.60%
10Y*
10.73%

XLE

1D
-1.13%
1M
10.27%
YTD
37.91%
6M
39.21%
1Y
35.32%
3Y*
17.71%
5Y*
23.99%
10Y*
11.65%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

SPDR Portfolio S&P 400 Mid Cap ETF

State Street Energy Select Sector SPDR ETF

Often compared with SPMD:
SPMD vs. MDYSPMD vs. VOSPMD vs. SPYSPMD vs. SCHMSPMD vs. IWRSPMD vs. IMCBSPMD vs. SCHZ
Often compared with XLE:
XLE vs. VDEXLE vs. USOXLE vs. XOPXLE vs. XLUXLE vs. XLKXLE vs. IXCXLE vs. FENY

SPMD vs. XLE - Expense Ratio Comparison

SPMD has a 0.05% expense ratio, which is lower than XLE's 0.08% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

XLE
State Street Energy Select Sector SPDR ETF
SPMD
SPDR Portfolio S&P 400 Mid Cap ETF

Return for Risk

SPMD vs. XLE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SPMD
SPMD Risk / Return Rank: 5252
Overall Rank
SPMD Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
SPMD Sortino Ratio Rank: 5151
Sortino Ratio Rank
SPMD Omega Ratio Rank: 4949
Omega Ratio Rank
SPMD Calmar Ratio Rank: 5353
Calmar Ratio Rank
SPMD Martin Ratio Rank: 5959
Martin Ratio Rank
XLE
XLE Risk / Return Rank: 7373
Overall Rank
XLE Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
XLE Sortino Ratio Rank: 7676
Sortino Ratio Rank
XLE Omega Ratio Rank: 7777
Omega Ratio Rank
XLE Calmar Ratio Rank: 7878
Calmar Ratio Rank
XLE Martin Ratio Rank: 5858
Martin Ratio Rank
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.

SPMD vs. XLE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) 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.

SPMDXLEDifference

Sharpe ratio

Return per unit of total volatility

0.83

1.42

-0.60

Sortino ratio

Return per unit of downside risk

1.30

1.84

-0.53

Omega ratio

Gain probability vs. loss probability

1.18

1.28

-0.10

Calmar ratio

Return relative to maximum drawdown

1.25

1.96

-0.71

Martin ratio

Return relative to average drawdown

5.41

5.16

+0.26

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPMD vs. XLE - Sharpe Ratio Comparison

The current SPMD Sharpe Ratio is 0.83, which is lower than the XLE Sharpe Ratio of 1.42. The chart below compares the historical Sharpe Ratios of SPMD and XLE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

SPMDXLEDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.83

1.42

-0.60

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.34

0.93

-0.59

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.51

0.40

+0.11

Sharpe Ratio (All Time)

Calculated using the full available price history

0.43

0.32

+0.11

Correlation

The correlation between SPMD and XLE is 0.59, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

SPMD vs. XLE - Dividend Comparison

SPMD's dividend yield for the trailing twelve months is around 1.37%, less than XLE's 2.44% yield.

TTM20252024202320222021202020192018201720162015
SPMD
SPDR Portfolio S&P 400 Mid Cap ETF		1.37%1.39%1.42%1.47%1.64%1.24%1.30%1.57%1.85%1.97%2.13%5.33%
XLE
State Street Energy Select Sector SPDR ETF		2.44%3.28%3.36%3.55%3.68%4.21%5.62%6.72%3.54%3.03%2.26%3.39%

Drawdowns

SPMD vs. XLE - Drawdown Comparison

The maximum SPMD drawdown since its inception was -57.62%, smaller than the maximum XLE drawdown of -71.26%. Use the drawdown chart below to compare losses from any high point for SPMD and XLE.

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Drawdown Indicators

SPMDXLEDifference

Max Drawdown

Largest peak-to-trough decline

-57.62%

-71.26%

+13.64%

Max Drawdown (1Y)

Largest decline over 1 year

-14.12%

-18.79%

+4.67%

Max Drawdown (5Y)

Largest decline over 5 years

-24.08%

-26.04%

+1.96%

Max Drawdown (10Y)

Largest decline over 10 years

-41.86%

-66.81%

+24.95%

Current Drawdown

Current decline from peak

-6.13%

-2.08%

-4.05%

Average Drawdown

Average peak-to-trough decline

-8.18%

-18.05%

+9.87%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.27%

7.14%

-3.87%

Volatility

SPMD vs. XLE - Volatility Comparison

SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) has a higher volatility of 6.56% compared to State Street Energy Select Sector SPDR ETF (XLE) at 5.05%. This indicates that SPMD's price experiences larger fluctuations and is considered to be riskier 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

SPMDXLEDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.56%

5.05%

+1.51%

Volatility (6M)

Calculated over the trailing 6-month period

11.95%

13.94%

-1.99%

Volatility (1Y)

Calculated over the trailing 1-year period

21.11%

24.93%

-3.82%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.71%

26.06%

-6.35%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.18%

29.48%

-8.30%