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XLE vs. DVY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XLE vs. DVY

Last updated Jun 14, 2026

XLE (State Street Energy Select Sector SPDR ETF) and DVY (iShares Select Dividend ETF) are both exchange-traded funds - XLE is a Energy Equities fund tracking the Energy Select Sector Index, while DVY is a Large Cap Value Equities fund tracking the Dow Jones U.S. Select Dividend Index. Both are passively managed. Over the past 10 years, XLE returned 9.91%/yr vs 10.49%/yr for DVY. A 0.61 correlation means they provide meaningful diversification when combined. XLE charges 0.08%/yr vs 0.39%/yr for DVY.

Performance

XLE vs. DVY - Performance Comparison

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

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Returns By Period

In the year-to-date period, XLE achieves a 29.56% return, which is significantly higher than DVY's 13.40% return. Over the past 10 years, XLE has underperformed DVY with an annualized return of 9.91%, while DVY has yielded a comparatively higher 10.49% 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%

DVY

1D
1.18%
1M
4.16%
YTD
13.40%
6M
12.29%
1Y
25.66%
3Y*
15.86%
5Y*
9.31%
10Y*
10.49%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XLE vs. DVY - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
DVY
iShares Select Dividend ETF		13.40%11.60%16.24%1.12%1.80%31.70%-4.91%22.62%-6.36%14.82%

Correlation

The correlation between XLE and DVY is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.27

Correlation (3Y)
Calculated over the trailing 3-year period

0.45

Correlation (5Y)
Calculated over the trailing 5-year period

0.54

Correlation (10Y)
Calculated over the trailing 10-year period

0.62

Correlation (All Time)
Calculated using the full available price history since Nov 7, 2003

0.61

Over the past year, the correlation between XLE and DVY has dropped to 0.27 - well below their long-term average of 0.61, suggesting their price drivers have been diverging.

XLE vs. DVY - Sectors Allocation Comparison

Sectors
XLE
DVY

Energy

100.0%
8.8%

Basic Materials

-

2.1%

Communication Services

-

5.5%

Consumer Cyclical

-

9.6%

Consumer Defensive

-

13.5%

Financial Services

-

25.1%

Healthcare

-

5.2%

Industrials

-

2.0%

Real Estate

-

-

Technology

-

4.0%

Utilities

-

23.7%

Energy

XLE
100.0%
DVY
8.8%

Basic Materials

XLE

-

DVY
2.1%

Communication Services

XLE

-

DVY
5.5%

Consumer Cyclical

XLE

-

DVY
9.6%

Consumer Defensive

XLE

-

DVY
13.5%

Financial Services

XLE

-

DVY
25.1%

Healthcare

XLE

-

DVY
5.2%

Industrials

XLE

-

DVY
2.0%

Real Estate

XLE

-

DVY

-

Technology

XLE

-

DVY
4.0%

Utilities

XLE

-

DVY
23.7%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

State Street Energy Select Sector SPDR ETF

iShares Select Dividend ETF

Often compared with XLE:
XLE vs. VDEXLE vs. USOXLE vs. XOPXLE vs. XLUXLE vs. XLKXLE vs. IXCXLE vs. FENY
Often compared with DVY:
DVY vs. SCHDDVY vs. HDVDVY vs. VYMDVY vs. DGRODVY vs. VIGDVY vs. SPYDDVY vs. VOO

Return for Risk

XLE vs. DVY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XLE
XLE Risk / Return Rank: 6161
Overall Rank
XLE Sharpe Ratio Rank: 6464
Sharpe Ratio Rank
XLE Sortino Ratio Rank: 5858
Sortino Ratio Rank
XLE Omega Ratio Rank: 5454
Omega Ratio Rank
XLE Calmar Ratio Rank: 7171
Calmar Ratio Rank
XLE Martin Ratio Rank: 5656
Martin Ratio Rank
DVY
DVY Risk / Return Rank: 7878
Overall Rank
DVY Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
DVY Sortino Ratio Rank: 8282
Sortino Ratio Rank
DVY Omega Ratio Rank: 7474
Omega Ratio Rank
DVY Calmar Ratio Rank: 7878
Calmar Ratio Rank
DVY Martin Ratio Rank: 7676
Martin Ratio Rank
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. DVY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Energy Select Sector SPDR ETF (XLE) and iShares Select Dividend ETF (DVY). 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.

XLEDVYDifference
Sharpe ratioReturn per unit of total volatility
1.82
2.19

-0.37

Sortino ratioReturn per unit of downside risk
2.40
3.19

-0.79

Omega ratioGain probability vs. loss probability

1.30

1.37

-0.08

Calmar ratioReturn relative to maximum drawdown

3.10

3.54

-0.44

Martin ratioReturn relative to average drawdown

8.63

12.51

-3.87

XLE vs. DVY - Sharpe Ratio Comparison

The current XLE Sharpe Ratio is 1.82, which is comparable to the DVY Sharpe Ratio of 2.19. The chart below compares the historical Sharpe Ratios of XLE and DVY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

XLE vs. DVY - Drawdown Comparison

The maximum XLE drawdown since its inception was -71.26%, which is greater than DVY's maximum drawdown of -62.59%. Use the drawdown chart below to compare losses from any high point for XLE and DVY.

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Drawdown Indicators

XLEDVYDifference

Max Drawdown

Largest peak-to-trough decline

-71.26%

-62.59%

-8.67%

Max Drawdown (1Y)

Largest decline over 1 year

-12.05%

-6.89%

-5.16%

Max Drawdown (3Y)

Largest decline over 3 years

-20.14%

-16.00%

-4.14%

Max Drawdown (5Y)

Largest decline over 5 years

-26.04%

-17.54%

-8.50%

Max Drawdown (10Y)

Largest decline over 10 years

-66.81%

-41.59%

-25.22%

Current Drawdown

Current decline from peak

-8.01%

0.00%

-8.01%

Average Drawdown

Average peak-to-trough decline

-17.97%

-8.78%

-9.19%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.32%

1.95%

+2.37%

Volatility

XLE vs. DVY - Volatility Comparison

State Street Energy Select Sector SPDR ETF (XLE) has a higher volatility of 7.26% compared to iShares Select Dividend ETF (DVY) at 2.94%. This indicates that XLE's price experiences larger fluctuations and is considered to be riskier than DVY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XLEDVYDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.26%

2.94%

+4.32%

Volatility (6M)

Calculated over the trailing 6-month period

16.79%

7.54%

+9.25%

Volatility (1Y)

Calculated over the trailing 1-year period

20.57%

11.16%

+9.41%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

26.05%

15.22%

+10.83%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

29.58%

18.01%

+11.57%

XLE vs. DVY - Expense Ratio Comparison

XLE has a 0.08% expense ratio, which is lower than DVY's 0.39% expense ratio.

Dividends

XLE vs. DVY - Dividend Comparison

XLE's dividend yield for the trailing twelve months is around 2.59%, less than DVY's 3.30% yield.

PositionTTM20252024202320222021202020192018201720162015
DVY
iShares Select Dividend ETF		3.30%3.65%3.65%3.82%3.43%3.12%3.66%3.41%3.58%3.00%3.04%3.45%
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 DVY have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

XLE has higher volatility (7.26%) compared to DVY (2.94%). In terms of maximum drawdown, XLE dropped -71.26% vs DVY's -62.59%.

On 10-year performance, DVY leads with 10.49% vs 9.91% for XLE. On fees, XLE is cheaper at 0.08% per year. On volatility, DVY has been the lower-risk option at 2.94%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, DVY has performed better with a 10.49% return vs 9.91%. 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 0.39% for DVY.

DVY has the higher dividend yield at 3.30%, compared with 2.59% for XLE.

XLE is categorized as Energy Equities, while DVY is Large Cap Value Equities. XLE tracks Energy Select Sector Index, while DVY tracks Dow Jones U.S. Select Dividend Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.08% for XLE and 0.39% for DVY.

DVY currently has the higher Sharpe Ratio (2.19 vs 1.82), 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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