XLE vs. CERY
XLE (State Street Energy Select Sector SPDR ETF) and CERY (SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF) are both exchange-traded funds - XLE is a Energy Equities fund tracking the Energy Select Sector Index, while CERY is a Commodities fund tracking the Bloomberg Enhanced Roll Yield Total Return Index. Both are passively managed. Over the past year, XLE returned 27.45% vs 29.64% for CERY. A 0.54 correlation means they provide meaningful diversification when combined. XLE charges 0.08%/yr vs 0.28%/yr for CERY.
Performance
XLE vs. CERY - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, XLE achieves a 24.89% return, which is significantly higher than CERY's 20.77% return.
XLE
- 1D
- 0.47%
- 1M
- -2.88%
- 6M
- 19.65%
- YTD
- 24.89%
- 1Y
- 27.45%
- 3Y*
- 13.38%
- 5Y*
- 20.12%
- 10Y*
- 9.05%
CERY
- 1D
- 0.00%
- 1M
- -2.91%
- 6M
- 16.72%
- YTD
- 20.77%
- 1Y
- 29.64%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XLE vs. CERY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
XLE State Street Energy Select Sector SPDR ETF | 24.89% | 7.88% | -0.78% |
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF | 20.77% | 15.68% | 3.80% |
Correlation
The correlation between XLE and CERY is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Sep 5, 2024 | 0.54 |
The correlation between XLE and CERY has been stable across timeframes, ranging from 0.54 to 0.54 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
XLE vs. CERY — Risk / Return Rank
XLE
CERY
XLE vs. CERY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street Energy Select Sector SPDR ETF (XLE) and SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF (CERY). 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 | CERY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.61 | ||
| Sortino ratioReturn per unit of downside risk | -0.75 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.34 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.88 | 2.15 | -0.27 |
| Martin ratioReturn relative to average drawdown | 5.10 | 7.97 | -2.87 |
Loading charts...
Drawdowns
XLE vs. CERY - Drawdown Comparison
The maximum XLE drawdown since its inception was -71.26%, which is greater than CERY's maximum drawdown of -14.33%. Use the drawdown chart below to compare losses from any high point for XLE and CERY.
Loading charts...
Drawdown Indicators
| XLE | CERY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.26% | -14.33% | -56.93% |
Max Drawdown (1Y)Largest decline over 1 year | -14.98% | -14.33% | -0.65% |
Max Drawdown (3Y)Largest decline over 3 years | -20.14% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -26.04% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -66.81% | — | — |
Current DrawdownCurrent decline from peak | -11.32% | -10.46% | -0.86% |
Average DrawdownAverage peak-to-trough decline | -17.96% | -2.56% | -15.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.50% | 3.86% | +1.64% |
Volatility
XLE vs. CERY - Volatility Comparison
State Street Energy Select Sector SPDR ETF (XLE) has a higher volatility of 6.80% compared to SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF (CERY) at 4.37%. This indicates that XLE's price experiences larger fluctuations and is considered to be riskier than CERY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| XLE | CERY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.80% | 4.37% | +2.43% |
Volatility (6M)Calculated over the trailing 6-month period | 16.70% | 13.59% | +3.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.83% | 15.73% | +5.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.91% | 14.81% | +11.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.57% | 14.81% | +14.76% |
XLE vs. CERY - Expense Ratio Comparison
XLE has a 0.08% expense ratio, which is lower than CERY's 0.28% expense ratio.
Dividends
XLE vs. CERY - Dividend Comparison
XLE's dividend yield for the trailing twelve months is around 2.75%, less than CERY's 4.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF | 4.14% | 4.99% | 0.52% | 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 | 2.75% | 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 CERY have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XLE has higher volatility (6.80%) compared to CERY (4.37%). In terms of maximum drawdown, XLE dropped -71.26% vs CERY's -14.33%.
On 1-year performance, CERY leads with 29.64% vs 27.45% for XLE. On fees, XLE is cheaper at 0.08% per year. On volatility, CERY has been the lower-risk option at 4.37%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, CERY has performed better with a 29.64% return vs 27.45%. 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 0.28% for CERY.
CERY has the higher dividend yield at 4.14%, compared with 2.75% for XLE.
XLE is categorized as Energy Equities, while CERY is Commodities. XLE tracks Energy Select Sector Index, while CERY tracks Bloomberg Enhanced Roll Yield Total Return Index. Their fees differ too: 0.08% for XLE and 0.28% for CERY.
CERY currently has the higher Sharpe Ratio (1.96 vs 1.35), 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.
Find the right allocation for XLE and CERY
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer