XCEM vs. XLE

Last updated Jun 13, 2026

XCEM (Columbia EM Core ex-China ETF) and XLE (State Street Energy Select Sector SPDR ETF) are both exchange-traded funds - XCEM is a Emerging Markets Equities fund tracking the MSCI Emerging Markets ex China Index, while XLE is a Energy Equities fund tracking the Energy Select Sector Index. Both are passively managed. Over the past 10 years, XCEM returned 12.68%/yr vs 9.91%/yr for XLE. At a 0.37 correlation, their price movements are largely independent. XCEM charges 0.16%/yr vs 0.08%/yr for XLE.

Performance

XCEM vs. XLE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Columbia EM Core ex-China ETF (XCEM) 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, XCEM achieves a 34.83% return, which is significantly higher than XLE's 29.56% return. Over the past 10 years, XCEM has outperformed XLE with an annualized return of 12.68%, while XLE has yielded a comparatively lower 9.91% annualized return.

XCEM

• 1D: 0.25%
• 1M: 4.23%
• YTD: 34.83%
• 6M: 40.49%
• 1Y: 60.61%
• 3Y*: 24.19%
• 5Y*: 11.44%
• 10Y*: 12.68%

XLE

• 1D: 0.75%
• 1M: -0.14%
• YTD: 29.56%
• 6M: 28.37%
• 1Y: 37.19%
• 3Y*: 16.18%
• 5Y*: 20.12%
• 10Y*: 9.91%

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

XCEM vs. XLE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XCEM Columbia EM Core ex-China ETF	34.83%	34.05%	0.42%	19.96%	-17.59%	7.87%	9.47%	19.74%	-11.75%	34.78%
XLE State Street Energy Select Sector SPDR ETF	29.56%	7.88%	5.56%	-0.63%	64.32%	53.28%	-32.67%	11.74%	-18.22%	-0.89%

Correlation

The correlation between XCEM and XLE is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.06
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (5Y) Calculated over the trailing 5-year period	0.28
Correlation (10Y) Calculated over the trailing 10-year period	0.37
Correlation (All Time) Calculated using the full available price history since Sep 2, 2015	0.37

The correlation between XCEM and XLE shifts across timeframes, from -0.06 (1 year) to 0.37 (10 years), reflecting how their relationship changes across market environments.

XCEM vs. XLE - Sectors Allocation Comparison

Sectors	XCEM	XLE
Technology	37.1%	-
Financial Services	22.8%	-
Industrials	9.7%	-
Basic Materials	6.4%	-
Consumer Cyclical	6.3%	-
Communication Services	4.2%	-
Energy	3.8%	100.0%
Consumer Defensive	3.0%	-
Healthcare	2.9%	-
Utilities	1.9%	-
Real Estate	1.8%	-

Return for Risk

XCEM vs. XLE — Risk / Return Rank

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

XCEM

XCEM Risk / Return Rank: 88
XCEM Sharpe Ratio Rank: 90
XCEM Sortino Ratio Rank: 85
XCEM Omega Ratio Rank: 89
XCEM Calmar Ratio Rank: 86
XCEM Martin Ratio Rank: 87

XLE

XLE Risk / Return Rank: 61
XLE Sharpe Ratio Rank: 64
XLE Sortino Ratio Rank: 58
XLE Omega Ratio Rank: 54
XLE Calmar Ratio Rank: 71
XLE Martin Ratio Rank: 56

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.

XCEM vs. XLE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia EM Core ex-China ETF (XCEM) 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.

	XCEM	XLE	Difference
Sharpe ratio: Return per unit of total volatility	2.67	1.82	+0.85
Sortino ratio: Return per unit of downside risk	3.34	2.40	+0.93
Omega ratio: Gain probability vs. loss probability	1.49	1.30	+0.19
Calmar ratio: Return relative to maximum drawdown	4.21	3.10	+1.11
Martin ratio: Return relative to average drawdown	16.34	8.63	+7.70

XCEM vs. XLE - Sharpe Ratio Comparison

The current XCEM Sharpe Ratio is 2.67, which is higher than the XLE Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of XCEM 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

XCEM vs. XLE - Drawdown Comparison

The maximum XCEM drawdown since its inception was -41.24%, smaller than the maximum XLE drawdown of -71.26%. Use the drawdown chart below to compare losses from any high point for XCEM and XLE.

Drawdown Indicators

	XCEM	XLE	Difference
Max Drawdown Largest peak-to-trough decline	-41.24%	-71.26%	+30.02%
Max Drawdown (1Y) Largest decline over 1 year	-14.46%	-12.05%	-2.41%
Max Drawdown (3Y) Largest decline over 3 years	-18.92%	-20.14%	+1.22%
Max Drawdown (5Y) Largest decline over 5 years	-29.57%	-26.04%	-3.53%
Max Drawdown (10Y) Largest decline over 10 years	-41.24%	-66.81%	+25.57%
Current Drawdown Current decline from peak	-3.74%	-8.01%	+4.27%
Average Drawdown Average peak-to-trough decline	-8.58%	-17.97%	+9.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.72%	4.32%	-0.60%

Volatility

XCEM vs. XLE - Volatility Comparison

Columbia EM Core ex-China ETF (XCEM) has a higher volatility of 11.91% compared to State Street Energy Select Sector SPDR ETF (XLE) at 7.26%. This indicates that XCEM'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.

Volatility by Period

	XCEM	XLE	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.91%	7.26%	+4.65%
Volatility (6M) Calculated over the trailing 6-month period	20.97%	16.79%	+4.18%
Volatility (1Y) Calculated over the trailing 1-year period	22.85%	20.57%	+2.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.20%	26.05%	-7.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.86%	29.58%	-9.72%

XCEM vs. XLE - Expense Ratio Comparison

XCEM has a 0.16% expense ratio, which is higher than XLE's 0.08% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

XCEM vs. XLE - Dividend Comparison

XCEM's dividend yield for the trailing twelve months is around 2.41%, less than XLE's 2.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
XCEM Columbia EM Core ex-China ETF	2.41%	3.25%	2.76%	1.22%	2.42%	1.94%	1.63%	2.11%	2.70%	9.56%	1.24%	2.63%
XLE State Street Energy Select Sector SPDR ETF	2.59%	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 XCEM and XLE in my portfolio?

XCEM and XLE have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XCEM or XLE?

XCEM has higher volatility (11.91%) compared to XLE (7.26%). In terms of maximum drawdown, XCEM dropped -41.24% vs XLE's -71.26%.

Which ETF is better, XCEM or XLE?

On 10-year performance, XCEM leads with 12.68% vs 9.91% for XLE. On fees, XLE is cheaper at 0.08% per year. On volatility, XLE has been the lower-risk option at 7.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XCEM or XLE?

Over the 10-year period, XCEM has performed better with a 12.68% return vs 9.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XCEM or XLE?

XLE is cheaper with a 0.08% expense ratio, compared with 0.16% for XCEM.

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

XLE has the higher dividend yield at 2.59%, compared with 2.41% for XCEM.

What is the main difference between XCEM and XLE?

XCEM is categorized as Emerging Markets Equities, while XLE is Energy Equities. XCEM tracks MSCI Emerging Markets ex China Index, while XLE tracks Energy Select Sector Index. They also come from different issuers: Ameriprise Financial and State Street. Their fees differ too: 0.16% for XCEM and 0.08% for XLE.

Which has better risk-adjusted returns?

XCEM currently has the higher Sharpe Ratio (2.67 vs 1.82), 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.