XOP vs. COMT
XOP (SPDR S&P Oil & Gas Exploration & Production ETF) and COMT (iShares GSCI Commodity Dynamic Roll Strategy ETF) are both exchange-traded funds - XOP is a Energy Equities fund tracking the S&P Oil & Gas Exploration & Production Select Industry, while COMT is a Commodities fund tracking the S&P GSCI Dynamic Roll (USD) Total Return Index. Both are passively managed. Over the past 10 years, XOP returned 2.97%/yr vs 7.87%/yr for COMT. A 0.68 correlation means they provide meaningful diversification when combined. XOP charges 0.35%/yr vs 0.48%/yr for COMT.
Performance
XOP vs. COMT - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with XOP having a 26.71% return and COMT slightly lower at 26.00%. Over the past 10 years, XOP has underperformed COMT with an annualized return of 2.97%, while COMT has yielded a comparatively higher 7.87% annualized return.
XOP
- 1D
- -0.56%
- 1M
- -2.49%
- 6M
- 25.57%
- YTD
- 26.71%
- 1Y
- 21.93%
- 3Y*
- 8.56%
- 5Y*
- 13.75%
- 10Y*
- 2.97%
COMT
- 1D
- -0.17%
- 1M
- -4.70%
- 6M
- 23.49%
- YTD
- 26.00%
- 1Y
- 27.75%
- 3Y*
- 11.57%
- 5Y*
- 11.09%
- 10Y*
- 7.87%
XOP vs. COMT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XOP SPDR S&P Oil & Gas Exploration & Production ETF | 26.71% | -2.15% | -1.00% | 3.56% | 45.37% | 66.74% | -36.40% | -9.44% | -28.10% | -9.47% |
COMT iShares GSCI Commodity Dynamic Roll Strategy ETF | 26.00% | 6.07% | 5.96% | -6.56% | 19.45% | 36.88% | -18.66% | 10.81% | -6.67% | 11.70% |
Correlation
The correlation between XOP and COMT is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 2014 | 0.68 |
The correlation between XOP and COMT has been stable across timeframes, ranging from 0.65 to 0.68 - a consistent structural relationship.
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Return for Risk
XOP vs. COMT — Risk / Return Rank
XOP
COMT
XOP vs. COMT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Oil & Gas Exploration & Production ETF (XOP) and iShares GSCI Commodity Dynamic Roll Strategy ETF (COMT). 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.
| XOP | COMT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.55 | ||
| Sortino ratioReturn per unit of downside risk | -0.70 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.24 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.23 | 1.66 | -0.43 |
| Martin ratioReturn relative to average drawdown | 3.01 | 5.78 | -2.77 |
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Drawdowns
XOP vs. COMT - Drawdown Comparison
The maximum XOP drawdown since its inception was -90.27%, which is greater than COMT's maximum drawdown of -51.89%. Use the drawdown chart below to compare losses from any high point for XOP and COMT.
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Drawdown Indicators
| XOP | COMT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.27% | -51.89% | -38.38% |
Max Drawdown (1Y)Largest decline over 1 year | -18.50% | -17.57% | -0.93% |
Max Drawdown (3Y)Largest decline over 3 years | -34.98% | -17.57% | -17.41% |
Max Drawdown (5Y)Largest decline over 5 years | -34.98% | -29.00% | -5.98% |
Max Drawdown (10Y)Largest decline over 10 years | -82.61% | -39.22% | -43.39% |
Current DrawdownCurrent decline from peak | -40.77% | -14.13% | -26.64% |
Average DrawdownAverage peak-to-trough decline | -42.57% | -23.97% | -18.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.54% | 5.05% | +2.49% |
Volatility
XOP vs. COMT - Volatility Comparison
SPDR S&P Oil & Gas Exploration & Production ETF (XOP) has a higher volatility of 7.88% compared to iShares GSCI Commodity Dynamic Roll Strategy ETF (COMT) at 5.68%. This indicates that XOP's price experiences larger fluctuations and is considered to be riskier than COMT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XOP | COMT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.88% | 5.68% | +2.20% |
Volatility (6M)Calculated over the trailing 6-month period | 22.07% | 19.60% | +2.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.03% | 21.45% | +6.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.73% | 21.17% | +12.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.17% | 18.84% | +21.33% |
XOP vs. COMT - Expense Ratio Comparison
XOP has a 0.35% expense ratio, which is lower than COMT's 0.48% expense ratio.
Dividends
XOP vs. COMT - Dividend Comparison
XOP's dividend yield for the trailing twelve months is around 2.05%, less than COMT's 6.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMT iShares GSCI Commodity Dynamic Roll Strategy ETF | 6.14% | 7.74% | 4.90% | 5.19% | 29.79% | 17.79% | 0.36% | 2.61% | 11.65% | 5.16% | 0.52% | 1.44% |
XOP SPDR S&P Oil & Gas Exploration & Production ETF | 2.05% | 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
XOP and COMT have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XOP has higher volatility (7.88%) compared to COMT (5.68%). In terms of maximum drawdown, XOP dropped -90.27% vs COMT's -51.89%.
On 10-year performance, COMT leads with 7.87% vs 2.97% for XOP. On fees, XOP is cheaper at 0.35% per year. On volatility, COMT has been the lower-risk option at 5.68%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, COMT has performed better with a 7.87% return vs 2.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XOP is cheaper with a 0.35% expense ratio, compared with 0.48% for COMT.
COMT has the higher dividend yield at 6.14%, compared with 2.05% for XOP.
XOP is categorized as Energy Equities, while COMT is Commodities. XOP tracks S&P Oil & Gas Exploration & Production Select Industry, while COMT tracks S&P GSCI Dynamic Roll (USD) Total Return Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.35% for XOP and 0.48% for COMT.
COMT currently has the higher Sharpe Ratio (1.36 vs 0.81), 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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