XOP vs. GXPE
XOP (SPDR S&P Oil & Gas Exploration & Production ETF) and GXPE (Global X PureCap MSCI Energy ETF) are both Energy Equities funds - XOP tracks the S&P Oil & Gas Exploration & Production Select Industry while GXPE tracks the MSCI USA Energy PureCap Index. Both are passively managed. Over the past year, XOP returned 46.74% vs 42.07% for GXPE. Their correlation of 0.88 means they have usually moved in the same direction. XOP charges 0.35%/yr vs 0.15%/yr for GXPE.
Performance
XOP vs. GXPE - Performance Comparison
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Returns By Period
In the year-to-date period, XOP achieves a 41.76% return, which is significantly higher than GXPE's 34.48% return.
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%
GXPE
- 1D
- 0.83%
- 1M
- 12.27%
- 6M
- 17.67%
- YTD
- 34.48%
- 1Y
- 42.07%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 39.70%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $27.82K | $19.84K | $23.45K | |
| $553.31M | $544.38M | $598.08M |
XOP vs. GXPE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
XOP SPDR S&P Oil & Gas Exploration & Production ETF | 41.76% | 0.38% |
GXPE Global X PureCap MSCI Energy ETF | 34.48% | 4.62% |
Correlation
The correlation between XOP and GXPE is 0.88, 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. | 0.88 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 2025 | 0.88 |
The correlation between XOP and GXPE has been stable across timeframes, ranging from 0.88 to 0.88 - a consistent structural relationship.
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Return for Risk
XOP vs. GXPE — Risk / Return Rank
XOP
GXPE
XOP vs. GXPE - 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 Global X PureCap MSCI Energy ETF (GXPE). 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 | GXPE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.45 | ||
| Sortino ratioReturn per unit of downside risk | -0.55 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.31 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.26 | 2.54 | -0.28 |
| Martin ratioReturn relative to average drawdown | 5.48 | 6.75 | -1.27 |
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Drawdowns
XOP vs. GXPE - Drawdown Comparison
The maximum XOP drawdown since its inception was -90.27%, which is greater than GXPE's maximum drawdown of -15.73%. Use the drawdown chart below to compare losses from any high point for XOP and GXPE.
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Drawdown Indicators
| XOP | GXPE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.27% | -15.73% | -74.54% |
Max Drawdown (1Y)Largest decline over 1 year | -18.50% | -15.73% | -2.77% |
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 | -33.74% | -4.53% | -29.21% |
Average DrawdownAverage peak-to-trough decline | -42.56% | -4.28% | -38.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.67% | 5.93% | +1.74% |
Volatility
XOP vs. GXPE - Volatility Comparison
SPDR S&P Oil & Gas Exploration & Production ETF (XOP) has a higher volatility of 8.28% compared to Global X PureCap MSCI Energy ETF (GXPE) at 5.85%. This indicates that XOP's price experiences larger fluctuations and is considered to be riskier than GXPE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XOP | GXPE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.28% | 5.85% | +2.43% |
Volatility (6M)Calculated over the trailing 6-month period | 22.52% | 16.76% | +5.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.49% | 20.77% | +7.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.53% | 20.64% | +12.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.15% | 20.64% | +19.51% |
XOP vs. GXPE - Expense Ratio Comparison
XOP has a 0.35% expense ratio, which is higher than GXPE's 0.15% expense ratio.
Dividends
XOP vs. GXPE - Dividend Comparison
XOP's dividend yield for the trailing twelve months is around 1.83%, less than GXPE's 2.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GXPE Global X PureCap MSCI Energy ETF | 2.07% | 1.20% | 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
XOP and GXPE have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XOP has higher volatility (8.28%) compared to GXPE (5.85%). In terms of maximum drawdown, XOP dropped -90.27% vs GXPE's -15.73%.
On 1-year performance, XOP leads with 46.74% vs 42.07% for GXPE. On fees, GXPE is cheaper at 0.15% per year. On volatility, GXPE has been the lower-risk option at 5.85%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, XOP has performed better with a 46.74% return vs 42.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GXPE is cheaper with a 0.15% expense ratio, compared with 0.35% for XOP.
GXPE has the higher dividend yield at 2.07%, compared with 1.83% for XOP.
XOP tracks S&P Oil & Gas Exploration & Production Select Industry, while GXPE tracks MSCI USA Energy PureCap Index. They also come from different issuers: State Street and Global X. Their fees differ too: 0.35% for XOP and 0.15% for GXPE.
GXPE currently has the higher Sharpe Ratio (1.92 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.
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