XLE vs. USCI
XLE (State Street Energy Select Sector SPDR ETF) and USCI (United States Commodity Index Fund) are both exchange-traded funds - XLE is a Energy Equities fund tracking the Energy Select Sector Index, while USCI is a Commodities fund tracking the SummerHaven Dynamic Commodity Index Total Return. Both are passively managed. Over the past 10 years, XLE returned 10.52%/yr vs 9.20%/yr for USCI. Their 0.51 correlation means they have sometimes moved together and sometimes differently. XLE charges 0.08%/yr vs 1.03%/yr for USCI.
Performance
XLE vs. USCI - Performance Comparison
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Returns By Period
In the year-to-date period, XLE achieves a 35.03% return, which is significantly higher than USCI's 30.16% return. Over the past 10 years, XLE has outperformed USCI with an annualized return of 10.52%, while USCI has yielded a comparatively lower 9.20% annualized return.
XLE
- 1D
- 1.00%
- 1M
- 12.76%
- 6M
- 18.26%
- YTD
- 35.03%
- 1Y
- 40.82%
- 3Y*
- 14.62%
- 5Y*
- 23.67%
- 10Y*
- 10.52%
- ALL TIME*
- 8.87%
USCI
- 1D
- 0.05%
- 1M
- 9.30%
- 6M
- 19.52%
- YTD
- 30.16%
- 1Y
- 35.83%
- 3Y*
- 19.78%
- 5Y*
- 19.95%
- 10Y*
- 9.20%
- ALL TIME*
- 4.50%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.01M | $1.13M | $1.88M | |
| $1.70B | $1.73B | $1.97B |
XLE vs. USCI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XLE State Street Energy Select Sector SPDR ETF | 35.03% | 7.88% | 5.56% | -0.63% | 64.32% | 53.28% | -32.67% | 11.74% | -18.22% | -0.89% |
USCI United States Commodity Index Fund | 30.16% | 17.63% | 17.24% | 0.00% | 29.47% | 33.07% | -11.47% | -1.68% | -11.76% | 6.32% |
Correlation
The correlation between XLE and USCI is 0.57, 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. | 0.57 |
Correlation (3Y) Balances recent behavior with more history. | 0.52 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.57 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.51 |
Correlation (All Time) Calculated using the full available price history since Aug 10, 2010 | 0.51 |
The correlation between XLE and USCI has been stable across timeframes, ranging from 0.51 to 0.57 - a consistent structural relationship.
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Return for Risk
XLE vs. USCI — Risk / Return Rank
XLE
USCI
XLE vs. USCI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street Energy Select Sector SPDR ETF (XLE) and United States Commodity Index Fund (USCI). 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 | USCI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.15 | ||
| Sortino ratioReturn per unit of downside risk | -0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.36 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.74 | 3.22 | -0.48 |
| Martin ratioReturn relative to average drawdown | 7.32 | 10.29 | -2.98 |
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Drawdowns
XLE vs. USCI - Drawdown Comparison
The maximum XLE drawdown since its inception was -71.26%, which is greater than USCI's maximum drawdown of -66.41%. Use the drawdown chart below to compare losses from any high point for XLE and USCI.
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Drawdown Indicators
| XLE | USCI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.26% | -66.41% | -4.85% |
Max Drawdown (1Y)Largest decline over 1 year | -14.98% | -11.19% | -3.79% |
Max Drawdown (3Y)Largest decline over 3 years | -20.14% | -12.01% | -8.13% |
Max Drawdown (5Y)Largest decline over 5 years | -26.04% | -18.84% | -7.20% |
Max Drawdown (10Y)Largest decline over 10 years | -66.81% | -45.82% | -20.99% |
Current DrawdownCurrent decline from peak | -4.13% | -1.85% | -2.28% |
Average DrawdownAverage peak-to-trough decline | -17.93% | -29.27% | +11.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.62% | 3.50% | +2.12% |
Volatility
XLE vs. USCI - Volatility Comparison
State Street Energy Select Sector SPDR ETF (XLE) has a higher volatility of 5.85% compared to United States Commodity Index Fund (USCI) at 5.30%. This indicates that XLE's price experiences larger fluctuations and is considered to be riskier than USCI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XLE | USCI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.85% | 5.30% | +0.55% |
Volatility (6M)Calculated over the trailing 6-month period | 16.71% | 14.27% | +2.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.05% | 17.21% | +3.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.77% | 18.42% | +7.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.57% | 15.91% | +13.66% |
XLE vs. USCI - Expense Ratio Comparison
XLE has a 0.08% expense ratio, which is lower than USCI's 1.03% expense ratio.
Dividends
XLE vs. USCI - Dividend Comparison
XLE's dividend yield for the trailing twelve months is around 2.55%, while USCI has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
USCI United States Commodity Index Fund | 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 | 2.55% | 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 USCI have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XLE has higher volatility (5.85%) compared to USCI (5.30%). In terms of maximum drawdown, XLE dropped -71.26% vs USCI's -66.41%.
On 10-year performance, XLE leads with 10.52% vs 9.20% for USCI. On fees, XLE is cheaper at 0.08% per year. On volatility, USCI has been the lower-risk option at 5.30%. 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 10.52% return vs 9.20%. 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 1.03% for USCI.
XLE has the higher dividend yield at 2.55%, compared with 0.00% for USCI.
XLE is categorized as Energy Equities, while USCI is Commodities. XLE tracks Energy Select Sector Index, while USCI tracks SummerHaven Dynamic Commodity Index Total Return. They also come from different issuers: State Street and USCF. Their fees differ too: 0.08% for XLE and 1.03% for USCI.
USCI currently has the higher Sharpe Ratio (2.10 vs 1.95), 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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