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XLE vs. IYE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XLE vs. IYE

Last updated Jun 5, 2026

XLE (State Street Energy Select Sector SPDR ETF) and IYE (iShares U.S. Energy ETF) are both Energy Equities funds - XLE tracks the Energy Select Sector Index while IYE tracks the Dow Jones U.S. Oil & Gas Index. Both are passively managed. Over the past 10 years, XLE returned 9.99%/yr vs 8.76%/yr for IYE. With a 0.98 correlation, they move nearly in lockstep. XLE charges 0.08%/yr vs 0.42%/yr for IYE.

Performance

XLE vs. IYE - 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 U.S. Energy ETF (IYE). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both stocks are quite close, with XLE having a 32.26% return and IYE slightly lower at 31.95%. Over the past 10 years, XLE has outperformed IYE with an annualized return of 9.99%, while IYE has yielded a comparatively lower 8.76% annualized return.

XLE

1D
0.07%
1M
-1.18%
YTD
32.26%
6M
29.34%
1Y
47.98%
3Y*
17.74%
5Y*
20.45%
10Y*
9.99%

IYE

1D
0.03%
1M
-1.09%
YTD
31.95%
6M
28.91%
1Y
46.86%
3Y*
17.38%
5Y*
19.52%
10Y*
8.76%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XLE vs. IYE - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XLE
State Street Energy Select Sector SPDR ETF		32.26%7.88%5.56%-0.63%64.32%53.28%-32.67%11.74%-18.22%-0.89%
IYE
iShares U.S. Energy ETF		31.95%7.33%6.06%-2.21%60.21%53.42%-33.49%10.03%-19.37%-1.80%

Correlation

The correlation between XLE and IYE is 1.00 - 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 (1Y)
Calculated over the trailing 1-year period

1.00

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

1.00

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

1.00

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

1.00

Correlation (All Time)
Calculated using the full available price history since Jun 19, 2000

0.98

The correlation between XLE and IYE has been stable across timeframes, ranging from 0.98 to 1.00 - a consistent structural relationship.

XLE vs. IYE - Sectors Allocation Comparison

Sectors
XLE
IYE

Energy

100.0%
98.9%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Financial Services

-

-

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

1.1%

Utilities

-

-

Energy

XLE
100.0%
IYE
98.9%

Basic Materials

XLE

-

IYE

-

Communication Services

XLE

-

IYE

-

Consumer Cyclical

XLE

-

IYE

-

Consumer Defensive

XLE

-

IYE

-

Financial Services

XLE

-

IYE

-

Healthcare

XLE

-

IYE

-

Industrials

XLE

-

IYE

-

Real Estate

XLE

-

IYE

-

Technology

XLE

-

IYE
1.1%

Utilities

XLE

-

IYE

-

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 U.S. Energy ETF

Often compared with XLE:
XLE vs. VDEXLE vs. USOXLE vs. XOPXLE vs. XLUXLE vs. XLKXLE vs. IXCXLE vs. FENY
Often compared with IYE:
IYE vs. VDEIYE vs. IXCIYE vs. FENYIYE vs. OIHIYE vs. IYHIYE vs. XOPIYE vs. MLPX

Return for Risk

XLE vs. IYE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XLE
XLE Risk / Return Rank: 7070
Overall Rank
XLE Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
XLE Sortino Ratio Rank: 6767
Sortino Ratio Rank
XLE Omega Ratio Rank: 6464
Omega Ratio Rank
XLE Calmar Ratio Rank: 7979
Calmar Ratio Rank
XLE Martin Ratio Rank: 6565
Martin Ratio Rank
IYE
IYE Risk / Return Rank: 6969
Overall Rank
IYE Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
IYE Sortino Ratio Rank: 6767
Sortino Ratio Rank
IYE Omega Ratio Rank: 6464
Omega Ratio Rank
IYE Calmar Ratio Rank: 7878
Calmar Ratio Rank
IYE Martin Ratio Rank: 6565
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. IYE - 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 U.S. Energy ETF (IYE). 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.

XLEIYEDifference
Sharpe ratioReturn per unit of total volatility
2.36
2.37

-0.01

Sortino ratioReturn per unit of downside risk
3.01
3.03

-0.01

Omega ratioGain probability vs. loss probability

1.38

1.38

0.00

Calmar ratioReturn relative to maximum drawdown

4.00

3.95

+0.05

Martin ratioReturn relative to average drawdown

11.60

11.64

-0.05

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XLE vs. IYE - Sharpe Ratio Comparison

The current XLE Sharpe Ratio is 2.36, which is comparable to the IYE Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of XLE and IYE, 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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Sharpe Ratios by Period

XLEIYEDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.36

2.37

-0.01

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.79

0.76

+0.03

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.34

0.30

+0.04

Sharpe Ratio (All Time)

Calculated using the full available price history

0.31

0.26

+0.05

Drawdowns

XLE vs. IYE - Drawdown Comparison

The maximum XLE drawdown since its inception was -71.26%, roughly equal to the maximum IYE drawdown of -73.74%. Use the drawdown chart below to compare losses from any high point for XLE and IYE.

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Drawdown Indicators

XLEIYEDifference

Max Drawdown

Largest peak-to-trough decline

-71.26%

-73.74%

+2.48%

Max Drawdown (1Y)

Largest decline over 1 year

-12.05%

-11.92%

-0.13%

Max Drawdown (3Y)

Largest decline over 3 years

-20.14%

-20.37%

+0.23%

Max Drawdown (5Y)

Largest decline over 5 years

-26.04%

-25.61%

-0.43%

Max Drawdown (10Y)

Largest decline over 10 years

-66.81%

-68.59%

+1.78%

Current Drawdown

Current decline from peak

-6.09%

-5.74%

-0.35%

Average Drawdown

Average peak-to-trough decline

-17.98%

-19.36%

+1.38%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.15%

4.04%

+0.11%

Volatility

XLE vs. IYE - Volatility Comparison

State Street Energy Select Sector SPDR ETF (XLE) and iShares U.S. Energy ETF (IYE) have volatilities of 8.25% and 7.92%, 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

XLEIYEDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.25%

7.92%

+0.33%

Volatility (6M)

Calculated over the trailing 6-month period

16.51%

16.06%

+0.45%

Volatility (1Y)

Calculated over the trailing 1-year period

20.50%

19.96%

+0.54%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

26.01%

25.71%

+0.30%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

29.58%

29.51%

+0.07%

XLE vs. IYE - Expense Ratio Comparison

XLE has a 0.08% expense ratio, which is lower than IYE's 0.42% expense ratio.

Dividends

XLE vs. IYE - Dividend Comparison

XLE's dividend yield for the trailing twelve months is around 2.54%, more than IYE's 2.13% yield.

PositionTTM20252024202320222021202020192018201720162015
IYE
iShares U.S. Energy ETF		2.13%2.85%2.75%2.99%3.37%2.98%4.75%6.60%3.16%2.66%2.11%3.39%
XLE
State Street Energy Select Sector SPDR ETF		2.54%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

With a correlation of 1.00, XLE and IYE 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.

XLE has higher volatility (8.25%) compared to IYE (7.92%). In terms of maximum drawdown, XLE dropped -71.26% vs IYE's -73.74%.

On 10-year performance, XLE leads with 9.99% vs 8.76% for IYE. On fees, XLE is cheaper at 0.08% per year. On volatility, IYE has been the lower-risk option at 7.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, XLE has performed better with a 9.99% return vs 8.76%. 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 0.42% for IYE.

XLE has the higher dividend yield at 2.54%, compared with 2.13% for IYE.

XLE tracks Energy Select Sector Index, while IYE tracks Dow Jones U.S. Oil & Gas Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.08% for XLE and 0.42% for IYE.

IYE currently has the higher Sharpe Ratio (2.37 vs 2.36), 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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