XLE vs. MLPX

Last updated Aug 6, 2026

XLE (State Street Energy Select Sector SPDR ETF) and MLPX (Global X MLP & Energy Infrastructure ETF) are both exchange-traded funds - XLE is a Energy Equities fund tracking the Energy Select Sector Index, while MLPX is a Infrastructure Equities fund tracking the Solactive MLP & Energy Infrastructure Index. Both are passively managed. Over the past 10 years, XLE returned 9.80%/yr vs 11.74%/yr for MLPX. Their 0.78 correlation means they have sometimes moved together and sometimes differently. XLE charges 0.08%/yr vs 0.45%/yr for MLPX.

Performance

XLE vs. MLPX - Performance Comparison

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

Returns By Period

In the year-to-date period, XLE achieves a 29.95% return, which is significantly higher than MLPX's 23.25% return. Over the past 10 years, XLE has underperformed MLPX with an annualized return of 9.80%, while MLPX has yielded a comparatively higher 11.74% annualized return.

XLE

• 1D: -2.07%
• 1M: 7.87%
• 6M: 9.98%
• YTD: 29.95%
• 1Y: 38.22%
• 3Y*: 13.23%
• 5Y*: 22.66%
• 10Y*: 9.80%
• ALL TIME*: 8.71%

MLPX

• 1D: -1.55%
• 1M: 0.23%
• 6M: 12.61%
• YTD: 23.25%
• 1Y: 23.99%
• 3Y*: 25.40%
• 5Y*: 22.40%
• 10Y*: 11.74%
• ALL TIME*: 9.10%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MLPX Global X MLP & Energy Infrastructure ETF	$37.87M	$35.74M	$31.49M
XLE State Street Energy Select Sector SPDR ETF	$1.81B	$1.78B	$1.93B

XLE vs. MLPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XLE State Street Energy Select Sector SPDR ETF	29.95%	7.88%	5.56%	-0.63%	64.32%	53.28%	-32.67%	11.74%	-18.22%	-0.89%
MLPX Global X MLP & Energy Infrastructure ETF	23.25%	4.96%	42.90%	15.77%	21.54%	39.63%	-20.32%	19.04%	-15.64%	-4.53%

Correlation

The correlation between XLE and MLPX is 0.69, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.69
Correlation (3Y) Balances recent behavior with more history.	0.67
Correlation (5Y) Shows whether the relationship held over a longer period.	0.76
Correlation (10Y) Provides a long-term view across more market conditions.	0.78
Correlation (All Time) Calculated using the full available price history since Aug 7, 2013	0.78

The correlation between XLE and MLPX shifts across timeframes, from 0.67 (3 years) to 0.78 (10 years), reflecting how their relationship changes across market environments.

XLE vs. MLPX - Sectors Allocation Comparison

Sectors	XLE	MLPX
Energy	100.0%	99.6%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	0.3%
Real Estate	-	-
Technology	-	-
Utilities	-	0.4%

Return for Risk

XLE vs. MLPX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

XLE

XLE Risk / Return Rank: 61
XLE Sharpe Ratio Rank: 69
XLE Sortino Ratio Rank: 62
XLE Omega Ratio Rank: 59
XLE Calmar Ratio Rank: 64
XLE Martin Ratio Rank: 52

MLPX

MLPX Risk / Return Rank: 57
MLPX Sharpe Ratio Rank: 55
MLPX Sortino Ratio Rank: 55
MLPX Omega Ratio Rank: 50
MLPX Calmar Ratio Rank: 74
MLPX Martin Ratio Rank: 52

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

XLE vs. MLPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Energy Select Sector SPDR ETF (XLE) and Global X MLP & Energy Infrastructure ETF (MLPX). 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	MLPX	Difference
Sharpe ratio: Return per unit of total volatility	1.82	1.53	+0.29
Sortino ratio: Return per unit of downside risk	2.38	2.18	+0.20
Omega ratio: Gain probability vs. loss probability	1.30	1.26	+0.03
Calmar ratio: Return relative to maximum drawdown	2.56	2.95	-0.38
Martin ratio: Return relative to average drawdown	6.80	6.86	-0.06

XLE vs. MLPX - Sharpe Ratio Comparison

The current XLE Sharpe Ratio is 1.82, which is comparable to the MLPX Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of XLE and MLPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

XLE vs. MLPX - Drawdown Comparison

The maximum XLE drawdown since its inception was -71.26%, roughly equal to the maximum MLPX drawdown of -70.67%. Use the drawdown chart below to compare losses from any high point for XLE and MLPX.

Drawdown Indicators

	XLE	MLPX	Difference
Max Drawdown Largest peak-to-trough decline	-71.26%	-70.67%	-0.59%
Max Drawdown (1Y) Largest decline over 1 year	-14.98%	-8.18%	-6.80%
Max Drawdown (3Y) Largest decline over 3 years	-20.14%	-16.77%	-3.37%
Max Drawdown (5Y) Largest decline over 5 years	-26.04%	-19.72%	-6.32%
Max Drawdown (10Y) Largest decline over 10 years	-66.81%	-64.70%	-2.11%
Current Drawdown Current decline from peak	-7.73%	-5.94%	-1.79%
Average Drawdown Average peak-to-trough decline	-17.93%	-16.46%	-1.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.64%	3.51%	+2.13%

Volatility

XLE vs. MLPX - Volatility Comparison

State Street Energy Select Sector SPDR ETF (XLE) has a higher volatility of 6.16% compared to Global X MLP & Energy Infrastructure ETF (MLPX) at 4.81%. This indicates that XLE's price experiences larger fluctuations and is considered to be riskier than MLPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XLE	MLPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.16%	4.81%	+1.35%
Volatility (6M) Calculated over the trailing 6-month period	16.48%	12.43%	+4.05%
Volatility (1Y) Calculated over the trailing 1-year period	21.12%	15.79%	+5.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.76%	19.90%	+5.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.58%	26.13%	+3.45%

XLE vs. MLPX - Expense Ratio Comparison

XLE has a 0.08% expense ratio, which is lower than MLPX's 0.45% expense ratio.

Dividends

XLE vs. MLPX - Dividend Comparison

XLE's dividend yield for the trailing twelve months is around 2.65%, less than MLPX's 4.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MLPX Global X MLP & Energy Infrastructure ETF	4.16%	4.88%	4.30%	5.22%	5.23%	5.98%	8.32%	5.78%	5.77%	4.36%	5.50%	4.81%
XLE State Street Energy Select Sector SPDR ETF	2.65%	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 MLPX in my portfolio?

XLE and MLPX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XLE or MLPX?

XLE has higher volatility (6.16%) compared to MLPX (4.81%). In terms of maximum drawdown, XLE dropped -71.26% vs MLPX's -70.67%.

Which ETF is better, XLE or MLPX?

On 10-year performance, MLPX leads with 11.74% vs 9.80% for XLE. On fees, XLE is cheaper at 0.08% per year. On volatility, MLPX has been the lower-risk option at 4.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XLE or MLPX?

Over the 10-year period, MLPX has performed better with a 11.74% return vs 9.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XLE or MLPX?

XLE is cheaper with a 0.08% expense ratio, compared with 0.45% for MLPX.

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

MLPX has the higher dividend yield at 4.16%, compared with 2.65% for XLE.

What is the main difference between XLE and MLPX?

XLE is categorized as Energy Equities, while MLPX is Infrastructure Equities. XLE tracks Energy Select Sector Index, while MLPX tracks Solactive MLP & Energy Infrastructure Index. They also come from different issuers: State Street and Global X. Their fees differ too: 0.08% for XLE and 0.45% for MLPX.

Which has better risk-adjusted returns?

XLE currently has the higher Sharpe Ratio (1.82 vs 1.53), 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.