XLE vs. PBOG

Last updated Jun 5, 2026

XLE (State Street Energy Select Sector SPDR ETF) and PBOG (Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF) are both exchange-traded funds - XLE is a Energy Equities fund tracking the Energy Select Sector Index, while PBOG is a Oil & Gas fund tracking the BITA Global Oil & Gas Select Index. Both are passively managed. Their correlation of 0.93 suggests significant overlap in exposure. XLE charges 0.08%/yr vs 0.13%/yr for PBOG.

Performance

XLE vs. PBOG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Energy Select Sector SPDR ETF (XLE) and Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF (PBOG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with XLE having a 32.26% return and PBOG slightly lower at 31.74%.

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%

PBOG

• 1D: -0.36%
• 1M: -2.93%
• YTD: 31.74%
• 6M: 29.27%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XLE vs. PBOG - Yearly Performance Comparison

	2026 (YTD)	2025
XLE State Street Energy Select Sector SPDR ETF	32.26%	1.77%
PBOG Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF	31.74%	1.62%

Correlation

The correlation between XLE and PBOG is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 26, 2025	0.93

Return for Risk

XLE vs. PBOG — Risk / Return Rank

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

XLE

XLE Risk / Return Rank: 70
XLE Sharpe Ratio Rank: 74
XLE Sortino Ratio Rank: 67
XLE Omega Ratio Rank: 64
XLE Calmar Ratio Rank: 79
XLE Martin Ratio Rank: 65

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. PBOG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Energy Select Sector SPDR ETF (XLE) and Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF (PBOG). 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.

	XLE	PBOG	Difference
Sharpe ratio: Return per unit of total volatility	2.36	—	—
Sortino ratio: Return per unit of downside risk	3.01	—	—
Omega ratio: Gain probability vs. loss probability	1.38	—	—
Calmar ratio: Return relative to maximum drawdown	4.00	—	—
Martin ratio: Return relative to average drawdown	11.60	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	XLE	PBOG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.36	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.79	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.34	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	3.24	-2.93

Drawdowns

XLE vs. PBOG - Drawdown Comparison

The maximum XLE drawdown since its inception was -71.26%, which is greater than PBOG's maximum drawdown of -11.45%. Use the drawdown chart below to compare losses from any high point for XLE and PBOG.

Drawdown Indicators

	XLE	PBOG	Difference
Max Drawdown Largest peak-to-trough decline	-71.26%	-11.45%	-59.81%
Max Drawdown (1Y) Largest decline over 1 year	-12.05%	—	—
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	-6.09%	-7.15%	+1.06%
Average Drawdown Average peak-to-trough decline	-17.98%	-3.13%	-14.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.15%	—	—

Volatility

Volatility by Period

	XLE	PBOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.25%	—	—
Volatility (6M) Calculated over the trailing 6-month period	16.51%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	20.50%	23.59%	-3.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.01%	23.59%	+2.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.58%	23.59%	+5.99%

XLE vs. PBOG - Expense Ratio Comparison

XLE has a 0.08% expense ratio, which is lower than PBOG's 0.13% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

XLE vs. PBOG - Dividend Comparison

XLE's dividend yield for the trailing twelve months is around 2.54%, more than PBOG's 0.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PBOG Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF	0.13%	0.17%	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	2.54%	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

Can I hold both XLE and PBOG in my portfolio?

With a correlation of 0.93, XLE and PBOG 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 PBOG?

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 PBOG?

XLE is cheaper with a 0.08% expense ratio, compared with 0.13% for PBOG.

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

XLE has the higher dividend yield at 2.54%, compared with 0.13% for PBOG.

What is the main difference between XLE and PBOG?

XLE is categorized as Energy Equities, while PBOG is Oil & Gas. XLE tracks Energy Select Sector Index, while PBOG tracks BITA Global Oil & Gas Select Index. They also come from different issuers: State Street and Portfolio Building Blocks. Their fees differ too: 0.08% for XLE and 0.13% for PBOG.