XLE vs. XLEI

Last updated Aug 6, 2026

XLE (State Street Energy Select Sector SPDR ETF) and XLEI (State Street Energy Select Sector SPDR Premium Income ETF) are both Energy Equities funds from State Street. XLE is passively managed, while XLEI is actively managed. Over the past year, XLE returned 38.22% vs 31.42% for XLEI. Their correlation of 0.94 means they have usually moved in the same direction. XLE charges 0.08%/yr vs 0.35%/yr for XLEI.

Performance

XLE vs. XLEI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Energy Select Sector SPDR ETF (XLE) and State Street Energy Select Sector SPDR Premium Income ETF (XLEI). 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 XLEI's 21.12% 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%

XLEI

• 1D: -1.73%
• 1M: 7.14%
• 6M: 11.38%
• YTD: 21.12%
• 1Y: 31.42%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 28.09%

*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)
XLE State Street Energy Select Sector SPDR ETF	$1.81B	$1.78B	$1.93B
XLEI State Street Energy Select Sector SPDR Premium Income ETF	$1.76M	$1.48M	$1.32M

XLE vs. XLEI - Yearly Performance Comparison

	2026 (YTD)	2025
XLE State Street Energy Select Sector SPDR ETF	29.95%	2.25%
XLEI State Street Energy Select Sector SPDR Premium Income ETF	21.12%	6.17%

Correlation

The correlation between XLE and XLEI is 0.94, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.94
Correlation (All Time) Calculated using the full available price history since Jul 30, 2025	0.94

The correlation between XLE and XLEI has been stable across timeframes, ranging from 0.94 to 0.94 - a consistent structural relationship.

XLE vs. XLEI - Sectors Allocation Comparison

Sectors	XLE	XLEI
Energy	100.0%	100.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	102.5%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

XLE vs. XLEI — 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

XLEI

XLEI Risk / Return Rank: 82
XLEI Sharpe Ratio Rank: 86
XLEI Sortino Ratio Rank: 77
XLEI Omega Ratio Rank: 81
XLEI Calmar Ratio Rank: 88
XLEI Martin Ratio Rank: 79

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. XLEI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Energy Select Sector SPDR ETF (XLE) and State Street Energy Select Sector SPDR Premium Income ETF (XLEI). 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	XLEI	Difference
Sharpe ratio: Return per unit of total volatility	1.82	2.24	-0.42
Sortino ratio: Return per unit of downside risk	2.38	2.81	-0.43
Omega ratio: Gain probability vs. loss probability	1.30	1.38	-0.09
Calmar ratio: Return relative to maximum drawdown	2.56	3.85	-1.29
Martin ratio: Return relative to average drawdown	6.80	11.59	-4.79

XLE vs. XLEI - Sharpe Ratio Comparison

The current XLE Sharpe Ratio is 1.82, which is comparable to the XLEI Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of XLE and XLEI, 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. XLEI - Drawdown Comparison

The maximum XLE drawdown since its inception was -71.26%, which is greater than XLEI's maximum drawdown of -8.19%. Use the drawdown chart below to compare losses from any high point for XLE and XLEI.

Drawdown Indicators

	XLE	XLEI	Difference
Max Drawdown Largest peak-to-trough decline	-71.26%	-8.19%	-63.07%
Max Drawdown (1Y) Largest decline over 1 year	-14.98%	-8.19%	-6.79%
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	-7.73%	-2.76%	-4.97%
Average Drawdown Average peak-to-trough decline	-17.93%	-1.83%	-16.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.64%	2.72%	+2.92%

Volatility

XLE vs. XLEI - Volatility Comparison

State Street Energy Select Sector SPDR ETF (XLE) has a higher volatility of 6.16% compared to State Street Energy Select Sector SPDR Premium Income ETF (XLEI) at 4.35%. This indicates that XLE's price experiences larger fluctuations and is considered to be riskier than XLEI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XLE	XLEI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.16%	4.35%	+1.81%
Volatility (6M) Calculated over the trailing 6-month period	16.48%	11.40%	+5.08%
Volatility (1Y) Calculated over the trailing 1-year period	21.12%	14.12%	+7.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.76%	14.11%	+11.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.58%	14.11%	+15.47%

XLE vs. XLEI - Expense Ratio Comparison

XLE has a 0.08% expense ratio, which is lower than XLEI's 0.35% expense ratio.

Dividends

XLE vs. XLEI - Dividend Comparison

XLE's dividend yield for the trailing twelve months is around 2.65%, less than XLEI's 20.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
XLEI State Street Energy Select Sector SPDR Premium Income ETF	20.64%	10.17%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XLE and XLEI in my portfolio?

With a correlation of 0.94, XLE and XLEI 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 is riskier, XLE or XLEI?

XLE has higher volatility (6.16%) compared to XLEI (4.35%). In terms of maximum drawdown, XLE dropped -71.26% vs XLEI's -8.19%.

Which ETF is better, XLE or XLEI?

On 1-year performance, XLE leads with 38.22% vs 31.42% for XLEI. On fees, XLE is cheaper at 0.08% per year. On volatility, XLEI has been the lower-risk option at 4.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XLE or XLEI?

Over the 1-year period, XLE has performed better with a 38.22% return vs 31.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XLE or XLEI?

XLE is cheaper with a 0.08% expense ratio, compared with 0.35% for XLEI.

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

XLEI has the higher dividend yield at 20.64%, compared with 2.65% for XLE.

What is the main difference between XLE and XLEI?

Their fees differ too: 0.08% for XLE and 0.35% for XLEI.

Which has better risk-adjusted returns?

XLEI currently has the higher Sharpe Ratio (2.24 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.