XES vs. NINE

Last updated Jun 3, 2026

XES (SPDR S&P Oil & Gas Equipment & Services ETF) is Energy Equities fund tracking the S&P Oil & Gas Equipment & Services Select Industry Index, while NINE (Nine Energy Service, Inc.) is a stock. Over the past 5 years, XES returned 14.11%/yr vs 34.52%/yr for NINE. A 0.57 correlation means they provide meaningful diversification when combined.

Performance

XES vs. NINE - 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 Nine Energy Service, Inc. (NINE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XES achieves a 51.54% return, which is significantly lower than NINE's 3,110.88% return.

XES

• 1D: 2.58%
• 1M: -3.51%
• YTD: 51.54%
• 6M: 51.49%
• 1Y: 106.77%
• 3Y*: 20.03%
• 5Y*: 14.11%
• 10Y*: -2.41%

NINE

• 1D: 5.71%
• 1M: 14.20%
• YTD: 3,110.88%
• 6M: 2,417.58%
• 1Y: 2,378.23%
• 3Y*: 48.79%
• 5Y*: 34.52%
• 10Y*: —

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

XES vs. NINE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
XES SPDR S&P Oil & Gas Equipment & Services ETF	51.54%	5.89%	-5.44%	6.68%	62.03%	12.00%	-43.38%	-9.00%	-51.00%
NINE Nine Energy Service, Inc.	3,110.88%	-69.13%	-58.21%	-81.56%	1,353.00%	-63.24%	-65.22%	-65.31%	-13.64%

Correlation

The correlation between XES and NINE is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (All Time) Calculated using the full available price history since Jan 22, 2018	0.57

The correlation between XES and NINE has been stable across timeframes, ranging from 0.48 to 0.57 - a consistent structural relationship.

Return for Risk

XES vs. NINE — Risk / Return Rank

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

XES

XES Risk / Return Rank: 92
XES Sharpe Ratio Rank: 93
XES Sortino Ratio Rank: 89
XES Omega Ratio Rank: 84
XES Calmar Ratio Rank: 97
XES Martin Ratio Rank: 95

NINE

NINE Risk / Return Rank: 97
NINE Sharpe Ratio Rank: 87
NINE Sortino Ratio Rank: 100
NINE Omega Ratio Rank: 100
NINE Calmar Ratio Rank: 100
NINE Martin Ratio Rank: 99

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. NINE - 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 Nine Energy Service, Inc. (NINE). 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.

	XES	NINE	Difference
Sharpe ratio Return per unit of total volatility	3.52	1.98	+1.54
Sortino ratio Return per unit of downside risk	4.12	21.54	-17.43
Omega ratio Gain probability vs. loss probability	1.51	4.06	-2.54
Calmar ratio Return relative to maximum drawdown	11.21	28.70	-17.49
Martin ratio Return relative to average drawdown	30.56	47.79	-17.23
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. NINE - Sharpe Ratio Comparison

The current XES Sharpe Ratio is 3.52, which is higher than the NINE Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of XES and NINE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	XES	NINE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.52	1.98	+1.54
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	0.06	+0.30
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.05	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.07	-0.02	-0.05

Drawdowns

XES vs. NINE - Drawdown Comparison

The maximum XES drawdown since its inception was -95.65%, roughly equal to the maximum NINE drawdown of -99.19%. Use the drawdown chart below to compare losses from any high point for XES and NINE.

Drawdown Indicators

	XES	NINE	Difference
Max Drawdown Largest peak-to-trough decline	-95.65%	-99.19%	+3.54%
Max Drawdown (1Y) Largest decline over 1 year	-9.84%	-72.93%	+63.09%
Max Drawdown (3Y) Largest decline over 3 years	-45.95%	-93.81%	+47.86%
Max Drawdown (5Y) Largest decline over 5 years	-45.95%	-98.06%	+52.11%
Max Drawdown (10Y) Largest decline over 10 years	-91.23%	—	—
Current Drawdown Current decline from peak	-70.73%	-71.58%	+0.85%
Average Drawdown Average peak-to-trough decline	-54.36%	-80.18%	+25.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.61%	43.79%	-40.18%

Volatility

XES vs. NINE - Volatility Comparison

The current volatility for SPDR S&P Oil & Gas Equipment & Services ETF (XES) is 8.25%, while Nine Energy Service, Inc. (NINE) has a volatility of 10.56%. This indicates that XES experiences smaller price fluctuations and is considered to be less risky than NINE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XES	NINE	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.25%	10.56%	-2.31%
Volatility (6M) Calculated over the trailing 6-month period	20.51%	269.47%	-248.96%
Volatility (1Y) Calculated over the trailing 1-year period	30.52%	1,318.84%	-1,288.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.04%	594.71%	-555.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	45.05%	465.71%	-420.66%

Dividends

XES vs. NINE - Dividend Comparison

XES's dividend yield for the trailing twelve months is around 1.12%, while NINE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NINE Nine Energy Service, Inc.	0.00%	0.00%	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	1.12%	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

Can I hold both XES and NINE in my portfolio?

XES and NINE have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XES or NINE?

NINE has higher volatility (10.56%) compared to XES (8.25%). In terms of maximum drawdown, XES dropped -95.65% vs NINE's -99.19%.

Which has better risk-adjusted returns?

XES currently has the higher Sharpe Ratio (3.52 vs 1.98), 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.