XLEI vs. XOP

Last updated Aug 2, 2026

XLEI (State Street Energy Select Sector SPDR Premium Income ETF) and XOP (SPDR S&P Oil & Gas Exploration & Production ETF) are both Energy Equities funds from State Street - XLEI tracks the S&P Energy Select Sector while XOP tracks the S&P Oil & Gas Exploration & Production Select Industry. Both are passively managed. Over the past year, XLEI returned 35.36% vs 46.74% for XOP. Their correlation of 0.85 means they have usually moved in the same direction. Both charge a 0.35% expense ratio.

Performance

XLEI vs. XOP - 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 SPDR S&P Oil & Gas Exploration & Production ETF (XOP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XLEI achieves a 24.56% return, which is significantly lower than XOP's 41.76% return.

XLEI

• 1D: 0.78%
• 1M: 10.90%
• 6M: 15.89%
• YTD: 24.56%
• 1Y: 35.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 32.17%

XOP

• 1D: 1.45%
• 1M: 14.72%
• 6M: 27.63%
• YTD: 41.76%
• 1Y: 46.74%
• 3Y*: 10.13%
• 5Y*: 19.29%
• 10Y*: 5.00%
• ALL TIME*: 2.68%

*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)
XLEI State Street Energy Select Sector SPDR Premium Income ETF	$1.55M	$1.39M	$1.31M
XOP SPDR S&P Oil & Gas Exploration & Production ETF	$553.31M	$544.38M	$598.08M

XLEI vs. XOP - Yearly Performance Comparison

	2026 (YTD)	2025
XLEI State Street Energy Select Sector SPDR Premium Income ETF	24.56%	6.17%
XOP SPDR S&P Oil & Gas Exploration & Production ETF	41.76%	-2.83%

Correlation

The correlation between XLEI and XOP is 0.84, 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.	0.84
Correlation (All Time) Calculated using the full available price history since Jul 30, 2025	0.85

The correlation between XLEI and XOP has been stable across timeframes, ranging from 0.84 to 0.85 - a consistent structural relationship.

XLEI vs. XOP - Sectors Allocation Comparison

Sectors	XLEI	XOP
Financial Services	102.5%	-
Energy	100.0%	95.1%
Basic Materials	-	4.3%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Healthcare	-	-
Industrials	-	2.2%
Real Estate	-	-
Technology	-	0.6%
Utilities	-	-

Return for Risk

XLEI vs. XOP — Risk / Return Rank

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

XLEI

XLEI Risk / Return Rank: 89
XLEI Sharpe Ratio Rank: 92
XLEI Sortino Ratio Rank: 88
XLEI Omega Ratio Rank: 89
XLEI Calmar Ratio Rank: 91
XLEI Martin Ratio Rank: 86

XOP

XOP Risk / Return Rank: 58
XOP Sharpe Ratio Rank: 64
XOP Sortino Ratio Rank: 57
XOP Omega Ratio Rank: 56
XOP Calmar Ratio Rank: 65
XOP Martin Ratio Rank: 48

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.

XLEI vs. XOP - 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 SPDR S&P Oil & Gas Exploration & Production ETF (XOP). 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.

	XLEI	XOP	Difference
Sharpe ratio: Return per unit of total volatility	2.40	1.47	+0.93
Sortino ratio: Return per unit of downside risk	3.00	1.96	+1.04
Omega ratio: Gain probability vs. loss probability	1.41	1.24	+0.17
Calmar ratio: Return relative to maximum drawdown	4.11	2.26	+1.85
Martin ratio: Return relative to average drawdown	12.37	5.48	+6.89

XLEI vs. XOP - Sharpe Ratio Comparison

The current XLEI Sharpe Ratio is 2.40, which is higher than the XOP Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of XLEI and XOP, 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

XLEI vs. XOP - Drawdown Comparison

The maximum XLEI drawdown since its inception was -8.19%, smaller than the maximum XOP drawdown of -90.27%. Use the drawdown chart below to compare losses from any high point for XLEI and XOP.

Drawdown Indicators

	XLEI	XOP	Difference
Max Drawdown Largest peak-to-trough decline	-8.19%	-90.27%	+82.08%
Max Drawdown (1Y) Largest decline over 1 year	-8.19%	-18.50%	+10.31%
Max Drawdown (3Y) Largest decline over 3 years	—	-34.98%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-34.98%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-82.61%	—
Current Drawdown Current decline from peak	0.00%	-33.74%	+33.74%
Average Drawdown Average peak-to-trough decline	-1.84%	-42.56%	+40.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.74%	7.67%	-4.93%

Volatility

XLEI vs. XOP - Volatility Comparison

The current volatility for State Street Energy Select Sector SPDR Premium Income ETF (XLEI) is 3.96%, while SPDR S&P Oil & Gas Exploration & Production ETF (XOP) has a volatility of 8.28%. This indicates that XLEI experiences smaller price fluctuations and is considered to be less risky than XOP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XLEI	XOP	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.96%	8.28%	-4.32%
Volatility (6M) Calculated over the trailing 6-month period	11.26%	22.52%	-11.26%
Volatility (1Y) Calculated over the trailing 1-year period	14.03%	28.49%	-14.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.02%	33.53%	-19.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.02%	40.15%	-26.13%

XLEI vs. XOP - Expense Ratio Comparison

Both XLEI and XOP have an expense ratio of 0.35%.

Dividends

XLEI vs. XOP - Dividend Comparison

XLEI's dividend yield for the trailing twelve months is around 18.37%, more than XOP's 1.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
XLEI State Street Energy Select Sector SPDR Premium Income ETF	18.37%	10.17%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XOP SPDR S&P Oil & Gas Exploration & Production ETF	1.83%	2.62%	2.45%	2.63%	2.47%	1.61%	2.34%	1.47%	0.99%	0.76%	0.76%	2.21%

Frequently Asked Questions

Can I hold both XLEI and XOP in my portfolio?

XLEI and XOP have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XLEI or XOP?

XOP has higher volatility (8.28%) compared to XLEI (3.96%). In terms of maximum drawdown, XLEI dropped -8.19% vs XOP's -90.27%.

Which ETF is better, XLEI or XOP?

On 1-year performance, XOP leads with 46.74% vs 35.36% for XLEI. Both ETFs have the same 0.35% expense ratio. On volatility, XLEI has been the lower-risk option at 3.96%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XLEI or XOP?

Over the 1-year period, XOP has performed better with a 46.74% return vs 35.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XLEI or XOP?

XLEI and XOP have the same expense ratio: 0.35% per year.

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

XLEI has the higher dividend yield at 18.37%, compared with 1.83% for XOP.

What is the main difference between XLEI and XOP?

XLEI tracks S&P Energy Select Sector, while XOP tracks S&P Oil & Gas Exploration & Production Select Industry.

Which has better risk-adjusted returns?

XLEI currently has the higher Sharpe Ratio (2.40 vs 1.47), 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.