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XLEI vs. IEO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XLEI vs. IEO

Last updated Jul 14, 2026
Documentation

XLEI (State Street Energy Select Sector SPDR Premium Income ETF) and IEO (iShares U.S. Oil & Gas Exploration & Production ETF) are both Energy Equities funds - XLEI tracks the S&P Energy Select Sector while IEO tracks the Dow Jones U.S. Select Oil Exploration & Production Index. Both are passively managed. Their correlation of 0.89 suggests significant overlap in exposure. XLEI charges 0.35%/yr vs 0.42%/yr for IEO.

Performance

XLEI vs. IEO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Energy Select Sector SPDR Premium Income ETF (XLEI) and iShares U.S. Oil & Gas Exploration & Production ETF (IEO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XLEI achieves a 18.76% return, which is significantly lower than IEO's 33.66% return.

XLEI

1D
1.96%
1M
-0.57%
6M
16.09%
YTD
18.76%
1Y
—
3Y*
—
5Y*
—
10Y*
—

IEO

1D
3.89%
1M
2.49%
6M
31.69%
YTD
33.66%
1Y
30.08%
3Y*
13.87%
5Y*
20.94%
10Y*
10.29%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XLEI vs. IEO - Yearly Performance Comparison

2026 (YTD)2025
XLEI
State Street Energy Select Sector SPDR Premium Income ETF		18.76%6.17%
IEO
iShares U.S. Oil & Gas Exploration & Production ETF		33.66%-2.07%

Correlation

The correlation between XLEI and IEO is 0.89, 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 Jul 30, 2025

0.89

XLEI vs. IEO - Sectors Allocation Comparison

Sectors
XLEI
IEO

Energy

100.0%
99.3%

Financial Services

98.4%

-

Basic Materials

-

0.7%

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Healthcare

-

-

Industrials

-

1.0%

Real Estate

-

-

Technology

-

-

Utilities

-

-

Energy

XLEI
100.0%
IEO
99.3%

Financial Services

XLEI
98.4%
IEO

-

Basic Materials

XLEI

-

IEO
0.7%

Communication Services

XLEI

-

IEO

-

Consumer Cyclical

XLEI

-

IEO

-

Consumer Defensive

XLEI

-

IEO

-

Healthcare

XLEI

-

IEO

-

Industrials

XLEI

-

IEO
1.0%

Real Estate

XLEI

-

IEO

-

Technology

XLEI

-

IEO

-

Utilities

XLEI

-

IEO

-

Compare stocks, funds, or ETFs

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State Street Energy Select Sector SPDR Premium Income ETF

iShares U.S. Oil & Gas Exploration & Production ETF

Often compared with XLEI:
XLEI vs. XLEXLEI vs. MLPIXLEI vs. XESXLEI vs. TNGYXLEI vs. NBETXLEI vs. XOPXLEI vs. OIH
Often compared with IEO:
IEO vs. XLEIEO vs. VDEIEO vs. FCGIEO vs. FENYIEO vs. DEOIEO vs. PCEFIEO vs. IEZ

Return for Risk

XLEI vs. IEO — Risk / Return Rank

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

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

IEO
IEO Risk / Return Rank: 4040
Overall Rank
IEO Sharpe Ratio Rank: 4141
Sharpe Ratio Rank
IEO Sortino Ratio Rank: 3838
Sortino Ratio Rank
IEO Omega Ratio Rank: 3737
Omega Ratio Rank
IEO Calmar Ratio Rank: 4646
Calmar Ratio Rank
IEO Martin Ratio Rank: 3838
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.

XLEI vs. IEO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Energy Select Sector SPDR Premium Income ETF (XLEI) and iShares U.S. Oil & Gas Exploration & Production ETF (IEO). 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.

XLEIIEODifference
Sharpe ratioReturn per unit of total volatility

—

1.18

—

Sortino ratioReturn per unit of downside risk

—

1.64

—

Omega ratioGain probability vs. loss probability

—

1.20

—

Calmar ratioReturn relative to maximum drawdown

—

1.85

—

Martin ratioReturn relative to average drawdown

—

4.62

—

XLEI vs. IEO - Sharpe Ratio Comparison

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Drawdowns

XLEI vs. IEO - Drawdown Comparison

The maximum XLEI drawdown since its inception was -8.19%, smaller than the maximum IEO drawdown of -79.17%. Use the drawdown chart below to compare losses from any high point for XLEI and IEO.

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Drawdown Indicators

XLEIIEODifference

Max Drawdown

Largest peak-to-trough decline

-8.19%

-79.17%

+70.98%

Max Drawdown (1Y)

Largest decline over 1 year

—

-16.32%

—

Max Drawdown (3Y)

Largest decline over 3 years

—

-31.46%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-31.46%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-75.00%

—

Current Drawdown

Current decline from peak

-2.33%

-7.94%

+5.61%

Average Drawdown

Average peak-to-trough decline

-1.90%

-26.20%

+24.30%

Ulcer Index

Depth and duration of drawdowns from previous peaks

—

6.58%

—

Volatility

XLEI vs. IEO - Volatility Comparison

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Volatility by Period

XLEIIEODifference

Volatility (1M)

Calculated over the trailing 1-month period

—

8.25%

—

Volatility (6M)

Calculated over the trailing 6-month period

—

20.23%

—

Volatility (1Y)

Calculated over the trailing 1-year period

14.15%

25.77%

-11.62%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.15%

30.46%

-16.31%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.15%

34.93%

-20.78%

XLEI vs. IEO - Expense Ratio Comparison

XLEI has a 0.35% expense ratio, which is lower than IEO's 0.42% expense ratio.

Dividends

XLEI vs. IEO - Dividend Comparison

XLEI's dividend yield for the trailing twelve months is around 19.26%, more than IEO's 1.97% yield.

PositionTTM20252024202320222021202020192018201720162015
IEO
iShares U.S. Oil & Gas Exploration & Production ETF		1.97%2.61%2.63%3.00%3.77%2.62%3.17%1.85%1.67%0.94%0.98%2.03%
XLEI
State Street Energy Select Sector SPDR Premium Income ETF		19.26%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

XLEI and IEO have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XLEI is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XLEI is cheaper with a 0.35% expense ratio, compared with 0.42% for IEO.

XLEI has the higher dividend yield at 19.26%, compared with 1.97% for IEO.

XLEI tracks S&P Energy Select Sector, while IEO tracks Dow Jones U.S. Select Oil Exploration & Production Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.35% for XLEI and 0.42% for IEO.

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