XLE vs. AAAU
XLE (State Street Energy Select Sector SPDR ETF) and AAAU (Goldman Sachs Physical Gold ETF) are both exchange-traded funds - XLE is a Energy Equities fund tracking the Energy Select Sector Index, while AAAU is a Gold fund tracking the LBMA Gold PM Price. Both are passively managed. Over the past 5 years, XLE returned 19.05%/yr vs 18.56%/yr for AAAU. At a 0.07 correlation, their price movements are largely independent. XLE charges 0.08%/yr vs 0.18%/yr for AAAU.
Performance
XLE vs. AAAU - Performance Comparison
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Returns By Period
In the year-to-date period, XLE achieves a 25.06% return, which is significantly higher than AAAU's 0.14% return.
XLE
- 1D
- -3.48%
- 1M
- -6.54%
- YTD
- 25.06%
- 6M
- 24.78%
- 1Y
- 30.16%
- 3Y*
- 14.85%
- 5Y*
- 19.05%
- 10Y*
- 9.49%
AAAU
- 1D
- 2.60%
- 1M
- -4.95%
- YTD
- 0.14%
- 6M
- 0.28%
- 1Y
- 25.66%
- 3Y*
- 30.02%
- 5Y*
- 18.56%
- 10Y*
- —
XLE vs. AAAU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
XLE State Street Energy Select Sector SPDR ETF | 25.06% | 7.88% | 5.56% | -0.63% | 64.32% | 53.28% | -32.67% | 11.74% | -21.78% |
AAAU Goldman Sachs Physical Gold ETF | 0.14% | 64.06% | 26.91% | 12.96% | -0.50% | -4.01% | 25.02% | 18.17% | 8.28% |
Correlation
The correlation between XLE and AAAU is -0.02, 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 | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Aug 15, 2018 | 0.07 |
The correlation between XLE and AAAU shifts across timeframes, from -0.02 (1 year) to 0.13 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
XLE vs. AAAU — Risk / Return Rank
XLE
AAAU
XLE vs. AAAU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street Energy Select Sector SPDR ETF (XLE) and Goldman Sachs Physical Gold ETF (AAAU). 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.
| XLE | AAAU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.51 | ||
| Sortino ratioReturn per unit of downside risk | +0.65 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.20 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.51 | 1.06 | +1.46 |
| Martin ratioReturn relative to average drawdown | 6.91 | 3.02 | +3.88 |
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Drawdowns
XLE vs. AAAU - Drawdown Comparison
The maximum XLE drawdown since its inception was -71.26%, which is greater than AAAU's maximum drawdown of -24.38%. Use the drawdown chart below to compare losses from any high point for XLE and AAAU.
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Drawdown Indicators
| XLE | AAAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.26% | -24.38% | -46.88% |
Max Drawdown (1Y)Largest decline over 1 year | -12.05% | -24.38% | +12.33% |
Max Drawdown (3Y)Largest decline over 3 years | -20.14% | -24.38% | +4.24% |
Max Drawdown (5Y)Largest decline over 5 years | -26.04% | -24.38% | -1.66% |
Max Drawdown (10Y)Largest decline over 10 years | -66.81% | — | — |
Current DrawdownCurrent decline from peak | -11.21% | -19.92% | +8.71% |
Average DrawdownAverage peak-to-trough decline | -17.97% | -6.24% | -11.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.38% | 8.54% | -4.16% |
Volatility
XLE vs. AAAU - Volatility Comparison
State Street Energy Select Sector SPDR ETF (XLE) and Goldman Sachs Physical Gold ETF (AAAU) have volatilities of 8.02% and 8.35%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XLE | AAAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.02% | 8.35% | -0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 17.19% | 23.99% | -6.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.86% | 27.22% | -6.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.10% | 18.10% | +8.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.61% | 17.15% | +12.46% |
XLE vs. AAAU - Expense Ratio Comparison
XLE has a 0.08% expense ratio, which is lower than AAAU's 0.18% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
XLE vs. AAAU - Dividend Comparison
XLE's dividend yield for the trailing twelve months is around 2.69%, while AAAU has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AAAU Goldman Sachs Physical Gold ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XLE State Street Energy Select Sector SPDR ETF | 2.69% | 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
XLE and AAAU have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AAAU has higher volatility (8.35%) compared to XLE (8.02%). In terms of maximum drawdown, XLE dropped -71.26% vs AAAU's -24.38%.
On 5-year performance, XLE leads with 19.05% vs 18.56% for AAAU. On fees, XLE is cheaper at 0.08% per year. On volatility, XLE has been the lower-risk option at 8.02%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, XLE has performed better with a 19.05% return vs 18.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XLE is cheaper with a 0.08% expense ratio, compared with 0.18% for AAAU.
XLE has the higher dividend yield at 2.69%, compared with 0.00% for AAAU.
XLE is categorized as Energy Equities, while AAAU is Gold. XLE tracks Energy Select Sector Index, while AAAU tracks LBMA Gold PM Price. They also come from different issuers: State Street and Goldman Sachs. Their fees differ too: 0.08% for XLE and 0.18% for AAAU.
XLE currently has the higher Sharpe Ratio (1.46 vs 0.95), 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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