XOP vs. OIH

Last updated Apr 2, 2026

Compare and contrast key facts about SPDR S&P Oil & Gas Exploration & Production ETF (XOP) and VanEck Vectors Oil Services ETF (OIH).

XOP and OIH are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XOP is a passively managed fund by State Street that tracks the performance of the S&P Oil & Gas Exploration & Production Select Industry. It was launched on Jun 19, 2006. OIH is a passively managed fund by VanEck that tracks the performance of the MVIS US Listed Oil Services 25 Index. It was launched on Dec 20, 2011. Both XOP and OIH are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

XOP vs. OIH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Oil & Gas Exploration & Production ETF (XOP) and VanEck Vectors Oil Services ETF (OIH). The values are adjusted to include any dividend payments, if applicable.

XOP vs. OIH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XOP SPDR S&P Oil & Gas Exploration & Production ETF	39.04%	-2.15%	-1.00%	3.56%	45.37%	66.74%	-36.40%	-9.44%	-28.10%	-9.47%
OIH VanEck Vectors Oil Services ETF	39.12%	6.81%	-10.53%	3.20%	66.17%	21.22%	-41.19%	-3.54%	-45.03%	-19.66%

Returns By Period

The year-to-date returns for both investments are quite close, with XOP having a 39.04% return and OIH slightly higher at 39.12%. Over the past 10 years, XOP has outperformed OIH with an annualized return of 5.87%, while OIH has yielded a comparatively lower -1.01% annualized return.

XOP

• 1D: -3.84%
• 1M: 10.02%
• YTD: 39.04%
• 6M: 31.49%
• 1Y: 35.18%
• 3Y*: 13.79%
• 5Y*: 18.14%
• 10Y*: 5.87%

OIH

• 1D: -1.99%
• 1M: 0.18%
• YTD: 39.12%
• 6M: 52.22%
• 1Y: 51.45%
• 3Y*: 14.61%
• 5Y*: 16.68%
• 10Y*: -1.01%

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

XOP vs. OIH - Expense Ratio Comparison

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

XOP

SPDR S&P Oil & Gas Exploration & Production ETF

OIH

VanEck Vectors Oil Services ETF

Return for Risk

XOP vs. OIH — Risk / Return Rank

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

XOP

XOP Risk / Return Rank: 54
XOP Sharpe Ratio Rank: 57
XOP Sortino Ratio Rank: 54
XOP Omega Ratio Rank: 54
XOP Calmar Ratio Rank: 56
XOP Martin Ratio Rank: 49

OIH

OIH Risk / Return Rank: 69
OIH Sharpe Ratio Rank: 73
OIH Sortino Ratio Rank: 71
OIH Omega Ratio Rank: 69
OIH Calmar Ratio Rank: 75
OIH Martin Ratio Rank: 56

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.

XOP vs. OIH - 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 VanEck Vectors Oil Services ETF (OIH). 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	OIH	Difference
Sharpe ratio Return per unit of total volatility	1.05	1.36	-0.31
Sortino ratio Return per unit of downside risk	1.48	1.85	-0.37
Omega ratio Gain probability vs. loss probability	1.21	1.26	-0.05
Calmar ratio Return relative to maximum drawdown	1.51	2.06	-0.55
Martin ratio Return relative to average drawdown	4.90	5.70	-0.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XOP vs. OIH - Sharpe Ratio Comparison

The current XOP Sharpe Ratio is 1.05, which is comparable to the OIH Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of XOP and OIH, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	XOP	OIH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.05	1.36	-0.31
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.45	+0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.15	-0.02	+0.17
Sharpe Ratio (All Time) Calculated using the full available price history	0.07	-0.00	+0.07

Correlation

The correlation between XOP and OIH is 0.85, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

XOP vs. OIH - Dividend Comparison

XOP's dividend yield for the trailing twelve months is around 1.86%, more than OIH's 1.23% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
XOP SPDR S&P Oil & Gas Exploration & Production ETF	1.86%	2.62%	2.45%	2.63%	2.47%	1.61%	2.34%	1.47%	0.99%	0.76%	0.76%	2.21%
OIH VanEck Vectors Oil Services ETF	1.23%	1.71%	2.01%	1.36%	0.95%	0.98%	1.23%	2.10%	2.13%	2.60%	1.40%	2.39%

Drawdowns

XOP vs. OIH - Drawdown Comparison

The maximum XOP drawdown since its inception was -90.27%, roughly equal to the maximum OIH drawdown of -94.45%. Use the drawdown chart below to compare losses from any high point for XOP and OIH.

Drawdown Indicators

	XOP	OIH	Difference
Max Drawdown Largest peak-to-trough decline	-90.27%	-94.45%	+4.18%
Max Drawdown (1Y) Largest decline over 1 year	-23.81%	-26.13%	+2.32%
Max Drawdown (5Y) Largest decline over 5 years	-34.98%	-43.80%	+8.82%
Max Drawdown (10Y) Largest decline over 10 years	-82.61%	-89.62%	+7.01%
Current Drawdown Current decline from peak	-35.01%	-64.72%	+29.71%
Average Drawdown Average peak-to-trough decline	-42.64%	-48.75%	+6.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.33%	9.43%	-2.10%

Volatility

XOP vs. OIH - Volatility Comparison

SPDR S&P Oil & Gas Exploration & Production ETF (XOP) and VanEck Vectors Oil Services ETF (OIH) have volatilities of 8.36% and 8.53%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XOP	OIH	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.36%	8.53%	-0.17%
Volatility (6M) Calculated over the trailing 6-month period	19.57%	21.79%	-2.22%
Volatility (1Y) Calculated over the trailing 1-year period	33.73%	38.09%	-4.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.12%	37.48%	-3.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.29%	42.49%	-2.20%