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XES vs. IEZ
Performance
Return for Risk
Dividends
Drawdowns
Volatility

XES vs. IEZ

Last updated Apr 1, 2026

Compare and contrast key facts about SPDR S&P Oil & Gas Equipment & Services ETF (XES) and iShares U.S. Oil Equipment & Services ETF (IEZ).

XES and IEZ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XES is a passively managed fund by State Street that tracks the performance of the S&P Oil & Gas Equipment & Services Select Industry Index. It was launched on Jun 19, 2006. IEZ is a passively managed fund by iShares that tracks the performance of the Dow Jones U.S. Select Oil Equipment & Services Index. It was launched on May 5, 2006. Both XES and IEZ 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

XES vs. IEZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Oil & Gas Equipment & Services ETF (XES) and iShares U.S. Oil Equipment & Services ETF (IEZ). The values are adjusted to include any dividend payments, if applicable.

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XES vs. IEZ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XES
SPDR S&P Oil & Gas Equipment & Services ETF		42.33%5.89%-5.44%6.68%62.03%12.00%-43.38%-9.00%-46.99%-21.93%
IEZ
iShares U.S. Oil Equipment & Services ETF		39.05%7.51%-8.15%4.43%65.73%15.98%-42.98%1.82%-42.47%-18.18%

Returns By Period

In the year-to-date period, XES achieves a 42.33% return, which is significantly higher than IEZ's 39.05% return. Over the past 10 years, XES has underperformed IEZ with an annualized return of -2.35%, while IEZ has yielded a comparatively higher -0.06% annualized return.

XES

1D
0.91%
1M
3.20%
YTD
42.33%
6M
61.87%
1Y
65.92%
3Y*
17.22%
5Y*
17.28%
10Y*
-2.35%

IEZ

1D
0.63%
1M
0.17%
YTD
39.05%
6M
51.03%
1Y
51.15%
3Y*
16.17%
5Y*
17.40%
10Y*
-0.06%
*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 S&P Oil & Gas Equipment & Services ETF

iShares U.S. Oil Equipment & Services ETF

Often compared with XES:
XES vs. OIHXES vs. XLEXES vs. PSCEXES vs. PXJXES vs. FENYXES vs. USOXES vs. XPRO
Often compared with IEZ:
IEZ vs. XOPIEZ vs. FCGIEZ vs. IBBQIEZ vs. IEOIEZ vs. EZUIEZ vs. VDEIEZ vs. USO

XES vs. IEZ - Expense Ratio Comparison

XES has a 0.35% expense ratio, which is lower than IEZ's 0.42% expense ratio.

IEZ
iShares U.S. Oil Equipment & Services ETF
XES
SPDR S&P Oil & Gas Equipment & Services ETF

Return for Risk

XES vs. IEZ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XES
XES Risk / Return Rank: 8181
Overall Rank
XES Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
XES Sortino Ratio Rank: 8282
Sortino Ratio Rank
XES Omega Ratio Rank: 8282
Omega Ratio Rank
XES Calmar Ratio Rank: 8484
Calmar Ratio Rank
XES Martin Ratio Rank: 7373
Martin Ratio Rank
IEZ
IEZ Risk / Return Rank: 7272
Overall Rank
IEZ Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
IEZ Sortino Ratio Rank: 7676
Sortino Ratio Rank
IEZ Omega Ratio Rank: 7474
Omega Ratio Rank
IEZ Calmar Ratio Rank: 7878
Calmar Ratio Rank
IEZ 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.

XES vs. IEZ - 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 iShares U.S. Oil Equipment & Services ETF (IEZ). 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.

XESIEZDifference

Sharpe ratio

Return per unit of total volatility

1.66

1.39

+0.26

Sortino ratio

Return per unit of downside risk

2.11

1.88

+0.22

Omega ratio

Gain probability vs. loss probability

1.31

1.27

+0.04

Calmar ratio

Return relative to maximum drawdown

2.40

2.04

+0.36

Martin ratio

Return relative to average drawdown

7.21

5.55

+1.66

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

XES vs. IEZ - Sharpe Ratio Comparison

The current XES Sharpe Ratio is 1.66, which is comparable to the IEZ Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of XES and IEZ, 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

XESIEZDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.66

1.39

+0.26

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.44

0.47

-0.04

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

-0.05

-0.00

-0.05

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.08

-0.04

-0.04

Correlation

The correlation between XES and IEZ is 0.98, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

XES vs. IEZ - Dividend Comparison

XES's dividend yield for the trailing twelve months is around 1.19%, less than IEZ's 1.25% yield.

TTM20252024202320222021202020192018201720162015
XES
SPDR S&P Oil & Gas Equipment & Services ETF		1.19%1.69%1.31%0.66%0.36%1.81%1.33%1.43%1.14%1.68%0.64%2.47%
IEZ
iShares U.S. Oil Equipment & Services ETF		1.25%1.87%1.76%0.97%0.65%1.20%2.07%2.28%1.81%3.42%0.91%2.40%

Drawdowns

XES vs. IEZ - Drawdown Comparison

The maximum XES drawdown since its inception was -95.65%, roughly equal to the maximum IEZ drawdown of -92.52%. Use the drawdown chart below to compare losses from any high point for XES and IEZ.

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Drawdown Indicators

XESIEZDifference

Max Drawdown

Largest peak-to-trough decline

-95.65%

-92.52%

-3.13%

Max Drawdown (1Y)

Largest decline over 1 year

-27.52%

-25.55%

-1.97%

Max Drawdown (5Y)

Largest decline over 5 years

-45.95%

-40.25%

-5.70%

Max Drawdown (10Y)

Largest decline over 10 years

-91.23%

-88.29%

-2.94%

Current Drawdown

Current decline from peak

-72.51%

-54.11%

-18.40%

Average Drawdown

Average peak-to-trough decline

-54.22%

-48.23%

-5.99%

Ulcer Index

Depth and duration of drawdowns from previous peaks

9.14%

9.37%

-0.23%

Volatility

XES vs. IEZ - Volatility Comparison

The current volatility for SPDR S&P Oil & Gas Equipment & Services ETF (XES) is 7.76%, while iShares U.S. Oil Equipment & Services ETF (IEZ) has a volatility of 9.57%. This indicates that XES experiences smaller price fluctuations and is considered to be less risky than IEZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XESIEZDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.76%

9.57%

-1.81%

Volatility (6M)

Calculated over the trailing 6-month period

22.14%

21.26%

+0.88%

Volatility (1Y)

Calculated over the trailing 1-year period

40.03%

36.94%

+3.09%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

39.84%

37.04%

+2.80%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

45.20%

41.67%

+3.53%