XLE vs. DVXE

Last updated Jul 17, 2026

XLE (State Street Energy Select Sector SPDR ETF) and DVXE (WEBs Energy XLE Defined Volatility ETF) are both Energy Equities funds - XLE tracks the Energy Select Sector Index while DVXE tracks the Syntax Defined Volatility XLE Index. Both are passively managed. With a 0.98 correlation, they move nearly in lockstep. XLE charges 0.08%/yr vs 0.89%/yr for DVXE.

Performance

XLE vs. DVXE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Energy Select Sector SPDR ETF (XLE) and WEBs Energy XLE Defined Volatility ETF (DVXE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XLE achieves a 29.29% return, which is significantly lower than DVXE's 42.03% return.

XLE

• 1D: 0.92%
• 1M: 3.74%
• 6M: 21.42%
• YTD: 29.29%
• 1Y: 36.53%
• 3Y*: 15.59%
• 5Y*: 22.95%
• 10Y*: 9.47%

DVXE

• 1D: 1.00%
• 1M: 5.23%
• 6M: 30.60%
• YTD: 42.03%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XLE vs. DVXE - Yearly Performance Comparison

	2026 (YTD)	2025
XLE State Street Energy Select Sector SPDR ETF	29.29%	6.41%
DVXE WEBs Energy XLE Defined Volatility ETF	42.03%	4.49%

Correlation

The correlation between XLE and DVXE is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 23, 2025	0.98

Return for Risk

XLE vs. DVXE — Risk / Return Rank

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

XLE

XLE Risk / Return Rank: 59
XLE Sharpe Ratio Rank: 67
XLE Sortino Ratio Rank: 61
XLE Omega Ratio Rank: 57
XLE Calmar Ratio Rank: 61
XLE Martin Ratio Rank: 49

DVXE

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

XLE vs. DVXE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Energy Select Sector SPDR ETF (XLE) and WEBs Energy XLE Defined Volatility ETF (DVXE). 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	DVXE	Difference
Sharpe ratio: Return per unit of total volatility	1.75	—	—
Sortino ratio: Return per unit of downside risk	2.32	—	—
Omega ratio: Gain probability vs. loss probability	1.29	—	—
Calmar ratio: Return relative to maximum drawdown	2.45	—	—
Martin ratio: Return relative to average drawdown	6.58	—	—

Drawdowns

XLE vs. DVXE - Drawdown Comparison

The maximum XLE drawdown since its inception was -71.26%, which is greater than DVXE's maximum drawdown of -21.83%. Use the drawdown chart below to compare losses from any high point for XLE and DVXE.

Drawdown Indicators

	XLE	DVXE	Difference
Max Drawdown Largest peak-to-trough decline	-71.26%	-21.83%	-49.43%
Max Drawdown (1Y) Largest decline over 1 year	-14.98%	—	—
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 Drawdown Current decline from peak	-8.20%	-13.78%	+5.58%
Average Drawdown Average peak-to-trough decline	-17.95%	-7.11%	-10.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.57%	—	—

Volatility

Volatility by Period

	XLE	DVXE	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.10%	—	—
Volatility (6M) Calculated over the trailing 6-month period	16.65%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	20.96%	30.89%	-9.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.87%	30.89%	-5.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.58%	30.89%	-1.31%

XLE vs. DVXE - Expense Ratio Comparison

XLE has a 0.08% expense ratio, which is lower than DVXE's 0.89% expense ratio.

Dividends

XLE vs. DVXE - Dividend Comparison

XLE's dividend yield for the trailing twelve months is around 2.66%, while DVXE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DVXE WEBs Energy XLE Defined Volatility 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	2.66%	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

Can I hold both XLE and DVXE in my portfolio?

With a correlation of 0.98, XLE and DVXE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, XLE or DVXE?

On fees, XLE is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XLE or DVXE?

XLE is cheaper with a 0.08% expense ratio, compared with 0.89% for DVXE.

Which ETF pays a higher dividend yield, XLE or DVXE?

XLE has the higher dividend yield at 2.66%, compared with 0.00% for DVXE.

What is the main difference between XLE and DVXE?

XLE tracks Energy Select Sector Index, while DVXE tracks Syntax Defined Volatility XLE Index. They also come from different issuers: State Street and WEBs. Their fees differ too: 0.08% for XLE and 0.89% for DVXE.