XOP vs. DVXE
XOP (SPDR S&P Oil & Gas Exploration & Production ETF) and DVXE (WEBs Energy XLE Defined Volatility ETF) are both Energy Equities funds - XOP tracks the S&P Oil & Gas Exploration & Production Select Industry while DVXE tracks the Syntax Defined Volatility XLE Index. Both are passively managed. Their correlation of 0.87 suggests significant overlap in exposure. XOP charges 0.35%/yr vs 0.89%/yr for DVXE.
Performance
XOP vs. DVXE - Performance Comparison
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Returns By Period
In the year-to-date period, XOP achieves a 36.08% return, which is significantly lower than DVXE's 44.98% return.
XOP
- 1D
- 1.35%
- 1M
- -5.46%
- YTD
- 36.08%
- 6M
- 26.81%
- 1Y
- 41.73%
- 3Y*
- 14.10%
- 5Y*
- 14.86%
- 10Y*
- 3.80%
DVXE
- 1D
- 1.52%
- 1M
- -1.50%
- YTD
- 44.98%
- 6M
- 39.14%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XOP vs. DVXE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
XOP SPDR S&P Oil & Gas Exploration & Production ETF | 36.08% | -0.32% |
DVXE WEBs Energy XLE Defined Volatility ETF | 44.98% | 4.49% |
Correlation
The correlation between XOP and DVXE is 0.87, 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 24, 2025 | 0.87 |
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Return for Risk
XOP vs. DVXE — Risk / Return Rank
XOP
DVXE
XOP vs. DVXE - 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 WEBs Energy XLE Defined Volatility ETF (DVXE). 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.
| XOP | DVXE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.25 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.77 | — | — |
| Martin ratioReturn relative to average drawdown | 7.10 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XOP | DVXE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.51 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.44 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.09 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.06 | 1.99 | -1.93 |
Drawdowns
XOP vs. DVXE - Drawdown Comparison
The maximum XOP drawdown since its inception was -90.27%, which is greater than DVXE's maximum drawdown of -17.96%. Use the drawdown chart below to compare losses from any high point for XOP and DVXE.
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Drawdown Indicators
| XOP | DVXE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.27% | -17.96% | -72.31% |
Max Drawdown (1Y)Largest decline over 1 year | -15.14% | — | — |
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 DrawdownCurrent decline from peak | -36.40% | -11.99% | -24.41% |
Average DrawdownAverage peak-to-trough decline | -42.59% | -5.80% | -36.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.90% | — | — |
Volatility
XOP vs. DVXE - Volatility Comparison
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Volatility by Period
| XOP | DVXE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.03% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 21.64% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 27.81% | 31.23% | -3.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.88% | 31.23% | +2.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.28% | 31.23% | +9.05% |
XOP vs. DVXE - Expense Ratio Comparison
XOP has a 0.35% expense ratio, which is lower than DVXE's 0.89% expense ratio.
Dividends
XOP vs. DVXE - Dividend Comparison
XOP's dividend yield for the trailing twelve months is around 1.90%, while DVXE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DVXE WEBs Energy XLE Defined Volatility 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% |
XOP SPDR S&P Oil & Gas Exploration & Production ETF | 1.90% | 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 DVXE have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XOP is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XOP is cheaper with a 0.35% expense ratio, compared with 0.89% for DVXE.
XOP has the higher dividend yield at 1.90%, compared with 0.00% for DVXE.
XOP tracks S&P Oil & Gas Exploration & Production Select Industry, while DVXE tracks Syntax Defined Volatility XLE Index. They also come from different issuers: State Street and WEBs. Their fees differ too: 0.35% for XOP and 0.89% for DVXE.
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