XLE vs. DVN
XLE (State Street Energy Select Sector SPDR ETF) is Energy Equities fund tracking the Energy Select Sector Index, while DVN (Devon Energy Corporation) is a stock. Over the past 10 years, XLE returned 9.91%/yr vs 6.14%/yr for DVN. Their correlation of 0.81 suggests significant overlap in exposure.
Performance
XLE vs. DVN - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, XLE achieves a 29.56% return, which is significantly higher than DVN's 24.34% return. Over the past 10 years, XLE has outperformed DVN with an annualized return of 9.91%, while DVN has yielded a comparatively lower 6.14% annualized return.
XLE
- 1D
- 0.75%
- 1M
- -0.90%
- YTD
- 29.56%
- 6M
- 28.37%
- 1Y
- 34.84%
- 3Y*
- 16.18%
- 5Y*
- 20.12%
- 10Y*
- 9.91%
DVN
- 1D
- 1.57%
- 1M
- -3.39%
- YTD
- 24.34%
- 6M
- 22.17%
- 1Y
- 35.40%
- 3Y*
- -0.45%
- 5Y*
- 14.12%
- 10Y*
- 6.14%
XLE vs. DVN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XLE State Street Energy Select Sector SPDR ETF | 29.56% | 7.88% | 5.56% | -0.63% | 64.32% | 53.28% | -32.67% | 11.74% | -18.22% | -0.89% |
DVN Devon Energy Corporation | 24.34% | 15.03% | -25.21% | -23.08% | 50.86% | 199.88% | -35.34% | 16.81% | -45.09% | -8.74% |
Correlation
The correlation between XLE and DVN is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Dec 22, 1998 | 0.81 |
The correlation between XLE and DVN has been stable across timeframes, ranging from 0.81 to 0.87 - 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. DVN — Risk / Return Rank
XLE
DVN
XLE vs. DVN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street Energy Select Sector SPDR ETF (XLE) and Devon Energy Corporation (DVN). 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 | DVN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.78 | ||
| Sortino ratioReturn per unit of downside risk | +0.84 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.19 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 3.10 | 2.31 | +0.79 |
| Martin ratioReturn relative to average drawdown | 8.63 | 5.17 | +3.46 |
Loading charts...
Drawdowns
XLE vs. DVN - Drawdown Comparison
The maximum XLE drawdown since its inception was -71.26%, smaller than the maximum DVN drawdown of -94.93%. Use the drawdown chart below to compare losses from any high point for XLE and DVN.
Loading charts...
Drawdown Indicators
| XLE | DVN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.26% | -94.93% | +23.67% |
Max Drawdown (1Y)Largest decline over 1 year | -12.05% | -15.36% | +3.31% |
Max Drawdown (3Y)Largest decline over 3 years | -20.14% | -49.22% | +29.08% |
Max Drawdown (5Y)Largest decline over 5 years | -26.04% | -61.45% | +35.41% |
Max Drawdown (10Y)Largest decline over 10 years | -66.81% | -88.51% | +21.70% |
Current DrawdownCurrent decline from peak | -8.01% | -42.02% | +34.01% |
Average DrawdownAverage peak-to-trough decline | -17.97% | -35.93% | +17.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.32% | 6.86% | -2.54% |
Volatility
XLE vs. DVN - Volatility Comparison
The current volatility for State Street Energy Select Sector SPDR ETF (XLE) is 7.26%, while Devon Energy Corporation (DVN) has a volatility of 12.66%. This indicates that XLE experiences smaller price fluctuations and is considered to be less risky than DVN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| XLE | DVN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.26% | 12.66% | -5.40% |
Volatility (6M)Calculated over the trailing 6-month period | 16.79% | 26.63% | -9.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.57% | 34.17% | -13.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.05% | 41.13% | -15.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.58% | 49.62% | -20.04% |
Dividends
XLE vs. DVN - Dividend Comparison
XLE's dividend yield for the trailing twelve months is around 2.59%, more than DVN's 2.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DVN Devon Energy Corporation | 1.59% | 2.62% | 4.43% | 4.55% | 8.41% | 5.24% | 4.30% | 1.35% | 1.33% | 0.58% | 0.92% | 3.00% |
XLE State Street Energy Select Sector SPDR ETF | 2.59% | 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 DVN have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DVN has higher volatility (12.66%) compared to XLE (7.26%). In terms of maximum drawdown, XLE dropped -71.26% vs DVN's -94.93%.
XLE currently has the higher Sharpe Ratio (1.82 vs 1.04), 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 DVN
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