XES vs. PBOG

Last updated Jun 4, 2026

XES (SPDR S&P Oil & Gas Equipment & Services ETF) and PBOG (Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF) are both exchange-traded funds - XES is a Energy Equities fund tracking the S&P Oil & Gas Equipment & Services Select Industry Index, while PBOG is a Oil & Gas fund tracking the BITA Global Oil & Gas Select Index. Both are passively managed. A 0.60 correlation means they provide meaningful diversification when combined. XES charges 0.35%/yr vs 0.13%/yr for PBOG.

Performance

XES vs. PBOG - 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 Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF (PBOG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XES achieves a 50.69% return, which is significantly higher than PBOG's 32.22% return.

XES

• 1D: -0.56%
• 1M: -4.59%
• YTD: 50.69%
• 6M: 43.67%
• 1Y: 97.14%
• 3Y*: 19.81%
• 5Y*: 13.75%
• 10Y*: -2.47%

PBOG

• 1D: 1.23%
• 1M: -2.32%
• YTD: 32.22%
• 6M: 29.70%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XES vs. PBOG - Yearly Performance Comparison

	2026 (YTD)	2025
XES SPDR S&P Oil & Gas Equipment & Services ETF	50.69%	3.20%
PBOG Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF	32.22%	1.62%

Correlation

The correlation between XES and PBOG is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 26, 2025	0.60

Return for Risk

XES vs. PBOG — Risk / Return Rank

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

XES

XES Risk / Return Rank: 89
XES Sharpe Ratio Rank: 91
XES Sortino Ratio Rank: 85
XES Omega Ratio Rank: 79
XES Calmar Ratio Rank: 96
XES Martin Ratio Rank: 94

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. PBOG - 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 Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF (PBOG). 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	PBOG	Difference
Sharpe ratio Return per unit of total volatility	3.23	—	—
Sortino ratio Return per unit of downside risk	3.86	—	—
Omega ratio Gain probability vs. loss probability	1.48	—	—
Calmar ratio Return relative to maximum drawdown	9.93	—	—
Martin ratio Return relative to average drawdown	26.79	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	XES	PBOG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.23	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.35	—	—
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	3.31	-3.38

Drawdowns

XES vs. PBOG - Drawdown Comparison

The maximum XES drawdown since its inception was -95.65%, which is greater than PBOG's maximum drawdown of -11.45%. Use the drawdown chart below to compare losses from any high point for XES and PBOG.

Drawdown Indicators

	XES	PBOG	Difference
Max Drawdown Largest peak-to-trough decline	-95.65%	-11.45%	-84.20%
Max Drawdown (1Y) Largest decline over 1 year	-9.84%	—	—
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 Drawdown Current decline from peak	-70.90%	-6.81%	-64.09%
Average Drawdown Average peak-to-trough decline	-54.36%	-3.10%	-51.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.64%	—	—

Volatility

Volatility by Period

	XES	PBOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.22%	—	—
Volatility (6M) Calculated over the trailing 6-month period	20.52%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	30.50%	23.67%	+6.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.04%	23.67%	+15.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	45.04%	23.67%	+21.37%

XES vs. PBOG - Expense Ratio Comparison

XES has a 0.35% expense ratio, which is higher than PBOG's 0.13% expense ratio.

Dividends

XES vs. PBOG - Dividend Comparison

XES's dividend yield for the trailing twelve months is around 1.12%, more than PBOG's 0.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PBOG Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF	0.13%	0.17%	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 PBOG in my portfolio?

XES and PBOG have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XES or PBOG?

On fees, PBOG is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XES or PBOG?

PBOG is cheaper with a 0.13% expense ratio, compared with 0.35% for XES.

Which ETF pays a higher dividend yield, XES or PBOG?

XES has the higher dividend yield at 1.12%, compared with 0.13% for PBOG.

What is the main difference between XES and PBOG?

XES is categorized as Energy Equities, while PBOG is Oil & Gas. XES tracks S&P Oil & Gas Equipment & Services Select Industry Index, while PBOG tracks BITA Global Oil & Gas Select Index. They also come from different issuers: State Street and Portfolio Building Blocks. Their fees differ too: 0.35% for XES and 0.13% for PBOG.