XLG vs. SPXE

Last updated Jun 16, 2026

XLG (Invesco S&P 500 Top 50 ETF) and SPXE (ProShares S&P 500 Ex-Energy ETF) are both S&P 500 funds - XLG tracks the S&P 500 Top 50 Index while SPXE tracks the S&P 500 Ex-Energy Index. Both are passively managed. XLG charges 0.20%/yr vs 0.09%/yr for SPXE.

Performance

XLG vs. SPXE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 Top 50 ETF (XLG) and ProShares S&P 500 Ex-Energy ETF (SPXE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

XLG

• 1D: 1.88%
• 1M: -1.70%
• YTD: 5.56%
• 6M: 6.64%
• 1Y: 25.51%
• 3Y*: 22.53%
• 5Y*: 15.57%
• 10Y*: 17.23%

SPXE

• 1D: -0.21%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XLG vs. SPXE - Yearly Performance Comparison

	2026 (YTD)
XLG Invesco S&P 500 Top 50 ETF	1.88%
SPXE ProShares S&P 500 Ex-Energy ETF	-0.21%

XLG vs. SPXE - Sectors Allocation Comparison

Sectors	XLG	SPXE
Technology	45.9%	39.2%
Communication Services	15.9%	10.7%
Consumer Cyclical	10.6%	9.7%
Financial Services	9.5%	11.9%
Healthcare	7.4%	9.0%
Consumer Defensive	5.5%	4.8%
Energy	2.6%	0.0%
Industrials	2.0%	8.1%
Basic Materials	0.6%	1.8%
Real Estate	-	1.9%
Utilities	-	2.6%

Return for Risk

XLG vs. SPXE — Risk / Return Rank

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

XLG

XLG Risk / Return Rank: 56
XLG Sharpe Ratio Rank: 62
XLG Sortino Ratio Rank: 60
XLG Omega Ratio Rank: 61
XLG Calmar Ratio Rank: 46
XLG Martin Ratio Rank: 49

SPXE

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

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.

XLG vs. SPXE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Top 50 ETF (XLG) and ProShares S&P 500 Ex-Energy ETF (SPXE). 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.

	XLG	SPXE	Difference
Sharpe ratio: Return per unit of total volatility	1.86	—	—
Sortino ratio: Return per unit of downside risk	2.52	—	—
Omega ratio: Gain probability vs. loss probability	1.33	—	—
Calmar ratio: Return relative to maximum drawdown	2.06	—	—
Martin ratio: Return relative to average drawdown	7.55	—	—

Drawdowns

XLG vs. SPXE - Drawdown Comparison

The maximum XLG drawdown since its inception was -52.39%, which is greater than SPXE's maximum drawdown of -0.21%. Use the drawdown chart below to compare losses from any high point for XLG and SPXE.

Drawdown Indicators

	XLG	SPXE	Difference
Max Drawdown Largest peak-to-trough decline	-52.39%	-0.21%	-52.18%
Max Drawdown (1Y) Largest decline over 1 year	-12.41%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-20.70%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-28.02%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-30.46%	—	—
Current Drawdown Current decline from peak	-3.28%	-0.21%	-3.07%
Average Drawdown Average peak-to-trough decline	-7.64%	-0.21%	-7.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.39%	—	—

Volatility

Volatility by Period

	XLG	SPXE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.58%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.57%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	13.78%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.76%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.88%	—	—

XLG vs. SPXE - Expense Ratio Comparison

XLG has a 0.20% expense ratio, which is higher than SPXE's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

XLG vs. SPXE - Dividend Comparison

XLG's dividend yield for the trailing twelve months is around 0.61%, while SPXE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPXE ProShares S&P 500 Ex-Energy ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XLG Invesco S&P 500 Top 50 ETF	0.61%	0.64%	0.72%	0.97%	1.34%	0.94%	1.25%	1.58%	2.00%	1.85%	2.00%	2.09%

Frequently Asked Questions

Which ETF is better, XLG or SPXE?

On fees, SPXE is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XLG or SPXE?

SPXE is cheaper with a 0.09% expense ratio, compared with 0.20% for XLG.

Which ETF pays a higher dividend yield, XLG or SPXE?

XLG has the higher dividend yield at 0.61%, compared with 0.00% for SPXE.

What is the main difference between XLG and SPXE?

XLG tracks S&P 500 Top 50 Index, while SPXE tracks S&P 500 Ex-Energy Index. They also come from different issuers: Invesco and ProShares. Their fees differ too: 0.20% for XLG and 0.09% for SPXE.