XES vs. GXPE
XES (SPDR S&P Oil & Gas Equipment & Services ETF) and GXPE (Global X PureCap MSCI Energy ETF) are both Energy Equities funds - XES tracks the S&P Oil & Gas Equipment & Services Select Industry Index while GXPE tracks the MSCI USA Energy PureCap Index. Both are passively managed. Over the past year, XES returned 76.64% vs 42.07% for GXPE. Their 0.64 correlation means they have sometimes moved together and sometimes differently. XES charges 0.35%/yr vs 0.15%/yr for GXPE.
Performance
XES vs. GXPE - Performance Comparison
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Returns By Period
In the year-to-date period, XES achieves a 36.38% return, which is significantly higher than GXPE's 34.48% return.
XES
- 1D
- 3.09%
- 1M
- 4.23%
- 6M
- 12.93%
- YTD
- 36.38%
- 1Y
- 76.64%
- 3Y*
- 7.20%
- 5Y*
- 17.17%
- 10Y*
- -2.88%
- ALL TIME*
- -3.56%
GXPE
- 1D
- 0.83%
- 1M
- 12.27%
- 6M
- 17.67%
- YTD
- 34.48%
- 1Y
- 42.07%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 39.70%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $27.82K | $19.84K | $23.45K | |
| $5.46M | $8.52M | $12.51M |
XES vs. GXPE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
XES SPDR S&P Oil & Gas Equipment & Services ETF | 36.38% | 27.22% |
GXPE Global X PureCap MSCI Energy ETF | 34.48% | 4.62% |
Correlation
The correlation between XES and GXPE is 0.64, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.64 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 2025 | 0.64 |
The correlation between XES and GXPE has been stable across timeframes, ranging from 0.64 to 0.64 - a consistent structural relationship.
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Return for Risk
XES vs. GXPE — Risk / Return Rank
XES
GXPE
XES vs. GXPE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Oil & Gas Equipment & Services ETF (XES) and Global X PureCap MSCI Energy ETF (GXPE). 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.
| XES | GXPE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.33 | ||
| Sortino ratioReturn per unit of downside risk | +0.35 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.31 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.23 | 2.54 | +0.69 |
| Martin ratioReturn relative to average drawdown | 10.31 | 6.75 | +3.56 |
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Drawdowns
XES vs. GXPE - Drawdown Comparison
The maximum XES drawdown since its inception was -95.65%, which is greater than GXPE's maximum drawdown of -15.73%. Use the drawdown chart below to compare losses from any high point for XES and GXPE.
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Drawdown Indicators
| XES | GXPE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.65% | -15.73% | -79.92% |
Max Drawdown (1Y)Largest decline over 1 year | -21.48% | -15.73% | -5.75% |
Max Drawdown (3Y)Largest decline over 3 years | -45.95% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -45.95% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -91.23% | — | — |
Current DrawdownCurrent decline from peak | -73.66% | -4.53% | -69.13% |
Average DrawdownAverage peak-to-trough decline | -54.50% | -4.28% | -50.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.73% | 5.93% | +0.80% |
Volatility
XES vs. GXPE - Volatility Comparison
SPDR S&P Oil & Gas Equipment & Services ETF (XES) has a higher volatility of 9.34% compared to Global X PureCap MSCI Energy ETF (GXPE) at 5.85%. This indicates that XES's price experiences larger fluctuations and is considered to be riskier than GXPE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XES | GXPE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.34% | 5.85% | +3.49% |
Volatility (6M)Calculated over the trailing 6-month period | 21.60% | 16.76% | +4.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.74% | 20.77% | +9.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.63% | 20.64% | +17.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 44.85% | 20.64% | +24.21% |
XES vs. GXPE - Expense Ratio Comparison
XES has a 0.35% expense ratio, which is higher than GXPE's 0.15% expense ratio.
Dividends
XES vs. GXPE - Dividend Comparison
XES's dividend yield for the trailing twelve months is around 1.17%, less than GXPE's 2.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GXPE Global X PureCap MSCI Energy ETF | 2.07% | 1.20% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XES SPDR S&P Oil & Gas Equipment & Services ETF | 1.17% | 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
XES and GXPE have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XES has higher volatility (9.34%) compared to GXPE (5.85%). In terms of maximum drawdown, XES dropped -95.65% vs GXPE's -15.73%.
On 1-year performance, XES leads with 76.64% vs 42.07% for GXPE. On fees, GXPE is cheaper at 0.15% per year. On volatility, GXPE has been the lower-risk option at 5.85%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, XES has performed better with a 76.64% return vs 42.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GXPE is cheaper with a 0.15% expense ratio, compared with 0.35% for XES.
GXPE has the higher dividend yield at 2.07%, compared with 1.17% for XES.
XES tracks S&P Oil & Gas Equipment & Services Select Industry Index, while GXPE tracks MSCI USA Energy PureCap Index. They also come from different issuers: State Street and Global X. Their fees differ too: 0.35% for XES and 0.15% for GXPE.
XES currently has the higher Sharpe Ratio (2.26 vs 1.92), 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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