TGRW vs. XLE

Last updated Jul 17, 2026

TGRW (T. Rowe Price Growth Stock ETF) and XLE (State Street Energy Select Sector SPDR ETF) are both exchange-traded funds - TGRW is a Large Cap Growth Equities fund actively managed by T. Rowe Price, while XLE is a Energy Equities fund tracking the Energy Select Sector Index. TGRW is actively managed, while XLE is passively managed. Over the past 5 years, TGRW returned 7.56%/yr vs 22.95%/yr for XLE. At a 0.13 correlation, their price movements are largely independent. TGRW charges 0.52%/yr vs 0.08%/yr for XLE.

Performance

TGRW vs. XLE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Growth Stock ETF (TGRW) and State Street Energy Select Sector SPDR ETF (XLE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TGRW achieves a 1.61% return, which is significantly lower than XLE's 29.29% return.

TGRW

• 1D: -1.97%
• 1M: -1.54%
• 6M: 2.75%
• YTD: 1.61%
• 1Y: 9.97%
• 3Y*: 17.87%
• 5Y*: 7.56%
• 10Y*: —

XLE

• 1D: 0.92%
• 1M: 3.74%
• 6M: 21.42%
• YTD: 29.29%
• 1Y: 36.53%
• 3Y*: 15.59%
• 5Y*: 22.95%
• 10Y*: 9.47%

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

TGRW vs. XLE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
TGRW T. Rowe Price Growth Stock ETF	1.61%	15.62%	29.94%	48.87%	-38.42%	14.97%	16.40%
XLE State Street Energy Select Sector SPDR ETF	29.29%	7.88%	5.56%	-0.63%	64.32%	53.28%	5.40%

Correlation

The correlation between TGRW and XLE is -0.25, 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	-0.25
Correlation (3Y) Calculated over the trailing 3-year period	-0.03
Correlation (5Y) Calculated over the trailing 5-year period	0.13
Correlation (All Time) Calculated using the full available price history since Aug 5, 2020	0.13

The correlation between TGRW and XLE shifts across timeframes, from -0.25 (1 year) to 0.13 (5 years), reflecting how their relationship changes across market environments.

TGRW vs. XLE - Sectors Allocation Comparison

Sectors	TGRW	XLE
Technology	52.6%	-
Communication Services	16.5%	-
Consumer Cyclical	13.1%	-
Healthcare	6.6%	-
Financial Services	5.2%	-
Industrials	4.1%	-
Consumer Defensive	0.8%	-
Basic Materials	0.6%	-
Real Estate	0.6%	-
Energy	-	100.0%
Utilities	-	-

Return for Risk

TGRW vs. XLE — Risk / Return Rank

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

TGRW

TGRW Risk / Return Rank: 19
TGRW Sharpe Ratio Rank: 20
TGRW Sortino Ratio Rank: 20
TGRW Omega Ratio Rank: 19
TGRW Calmar Ratio Rank: 17
TGRW Martin Ratio Rank: 19

XLE

XLE Risk / Return Rank: 59
XLE Sharpe Ratio Rank: 67
XLE Sortino Ratio Rank: 61
XLE Omega Ratio Rank: 57
XLE Calmar Ratio Rank: 61
XLE Martin Ratio Rank: 49

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.

TGRW vs. XLE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Growth Stock ETF (TGRW) 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.

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.

	TGRW	XLE	Difference
Sharpe ratio: Return per unit of total volatility	0.56	1.75	-1.19
Sortino ratio: Return per unit of downside risk	0.89	2.32	-1.43
Omega ratio: Gain probability vs. loss probability	1.11	1.29	-0.18
Calmar ratio: Return relative to maximum drawdown	0.53	2.45	-1.92
Martin ratio: Return relative to average drawdown	1.61	6.58	-4.97

TGRW vs. XLE - Sharpe Ratio Comparison

The current TGRW Sharpe Ratio is 0.56, which is lower than the XLE Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of TGRW and XLE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TGRW vs. XLE - Drawdown Comparison

The maximum TGRW drawdown since its inception was -43.33%, smaller than the maximum XLE drawdown of -71.26%. Use the drawdown chart below to compare losses from any high point for TGRW and XLE.

Drawdown Indicators

	TGRW	XLE	Difference
Max Drawdown Largest peak-to-trough decline	-43.33%	-71.26%	+27.93%
Max Drawdown (1Y) Largest decline over 1 year	-18.84%	-14.98%	-3.86%
Max Drawdown (3Y) Largest decline over 3 years	-23.18%	-20.14%	-3.04%
Max Drawdown (5Y) Largest decline over 5 years	-43.33%	-26.04%	-17.29%
Max Drawdown (10Y) Largest decline over 10 years	—	-66.81%	—
Current Drawdown Current decline from peak	-5.70%	-8.20%	+2.50%
Average Drawdown Average peak-to-trough decline	-12.33%	-17.95%	+5.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.20%	5.57%	+0.63%

Volatility

TGRW vs. XLE - Volatility Comparison

The current volatility for T. Rowe Price Growth Stock ETF (TGRW) is 5.74%, while State Street Energy Select Sector SPDR ETF (XLE) has a volatility of 6.10%. This indicates that TGRW experiences smaller price fluctuations and is considered to be less risky than XLE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TGRW	XLE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.74%	6.10%	-0.36%
Volatility (6M) Calculated over the trailing 6-month period	14.18%	16.65%	-2.47%
Volatility (1Y) Calculated over the trailing 1-year period	17.75%	20.96%	-3.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.47%	25.87%	-2.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.00%	29.58%	-6.58%

TGRW vs. XLE - Expense Ratio Comparison

TGRW has a 0.52% expense ratio, which is higher than XLE's 0.08% expense ratio.

Dividends

TGRW vs. XLE - Dividend Comparison

TGRW has not paid dividends to shareholders, while XLE's dividend yield for the trailing twelve months is around 2.66%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TGRW T. Rowe Price Growth Stock ETF	0.00%	0.00%	0.00%	0.01%	0.00%	0.40%	0.21%	0.00%	0.00%	0.00%	0.00%	0.00%
XLE State Street Energy Select Sector SPDR ETF	2.66%	3.28%	3.36%	3.55%	3.68%	4.21%	5.62%	6.72%	3.54%	3.03%	2.26%	3.39%

Frequently Asked Questions

Can I hold both TGRW and XLE in my portfolio?

TGRW and XLE have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TGRW or XLE?

XLE has higher volatility (6.10%) compared to TGRW (5.74%). In terms of maximum drawdown, TGRW dropped -43.33% vs XLE's -71.26%.

Which ETF is better, TGRW or XLE?

On 5-year performance, XLE leads with 22.95% vs 7.56% for TGRW. On fees, XLE is cheaper at 0.08% per year. On volatility, TGRW has been the lower-risk option at 5.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TGRW or XLE?

Over the 5-year period, XLE has performed better with a 22.95% return vs 7.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TGRW or XLE?

XLE is cheaper with a 0.08% expense ratio, compared with 0.52% for TGRW.

Which ETF pays a higher dividend yield, TGRW or XLE?

XLE has the higher dividend yield at 2.66%, compared with 0.00% for TGRW.

What is the main difference between TGRW and XLE?

TGRW is categorized as Large Cap Growth Equities, while XLE is Energy Equities. They also come from different issuers: T. Rowe Price and State Street. Their fees differ too: 0.52% for TGRW and 0.08% for XLE.

Which has better risk-adjusted returns?

XLE currently has the higher Sharpe Ratio (1.75 vs 0.56), 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.