XOP vs. PBOG

Last updated Jun 4, 2026

XOP (SPDR S&P Oil & Gas Exploration & Production ETF) and PBOG (Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF) are both exchange-traded funds - XOP is a Energy Equities fund tracking the S&P Oil & Gas Exploration & Production Select Industry, while PBOG is a Oil & Gas fund tracking the BITA Global Oil & Gas Select Index. Both are passively managed. Their correlation of 0.89 suggests significant overlap in exposure. XOP charges 0.35%/yr vs 0.13%/yr for PBOG.

Performance

XOP vs. PBOG - 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 Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF (PBOG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XOP achieves a 36.08% return, which is significantly higher than PBOG's 32.22% 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%

PBOG

• 1D: 1.23%
• 1M: -2.32%
• YTD: 32.22%
• 6M: 29.70%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XOP vs. PBOG - Yearly Performance Comparison

	2026 (YTD)	2025
XOP SPDR S&P Oil & Gas Exploration & Production ETF	36.08%	-2.33%
PBOG Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF	32.22%	1.62%

Correlation

The correlation between XOP and PBOG is 0.89, 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 Nov 26, 2025	0.89

Return for Risk

XOP vs. PBOG — Risk / Return Rank

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

XOP

XOP Risk / Return Rank: 43
XOP Sharpe Ratio Rank: 42
XOP Sortino Ratio Rank: 38
XOP Omega Ratio Rank: 37
XOP Calmar Ratio Rank: 55
XOP Martin Ratio Rank: 43

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. PBOG - 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 Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF (PBOG). 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	PBOG	Difference
Sharpe ratio: Return per unit of total volatility	1.51	—	—
Sortino ratio: Return per unit of downside risk	2.00	—	—
Omega ratio: Gain probability vs. loss probability	1.25	—	—
Calmar ratio: Return relative to maximum drawdown	2.77	—	—
Martin ratio: Return 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.

Sharpe Ratios by Period

	XOP	PBOG	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	3.31	-3.25

Drawdowns

XOP vs. PBOG - Drawdown Comparison

The maximum XOP drawdown since its inception was -90.27%, which is greater than PBOG's maximum drawdown of -11.45%. Use the drawdown chart below to compare losses from any high point for XOP and PBOG.

Drawdown Indicators

	XOP	PBOG	Difference
Max Drawdown Largest peak-to-trough decline	-90.27%	-11.45%	-78.82%
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 Drawdown Current decline from peak	-36.40%	-6.81%	-29.59%
Average Drawdown Average peak-to-trough decline	-42.59%	-3.10%	-39.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.90%	—	—

Volatility

Volatility by Period

	XOP	PBOG	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%	23.67%	+4.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.88%	23.67%	+10.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.28%	23.67%	+16.61%

XOP vs. PBOG - Expense Ratio Comparison

XOP has a 0.35% expense ratio, which is higher than PBOG's 0.13% expense ratio.

Dividends

XOP vs. PBOG - Dividend Comparison

XOP's dividend yield for the trailing twelve months is around 1.90%, more than PBOG's 0.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PBOG Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF	0.13%	0.17%	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

Can I hold both XOP and PBOG in my portfolio?

XOP and PBOG have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XOP or PBOG?

On fees, PBOG is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XOP or PBOG?

PBOG is cheaper with a 0.13% expense ratio, compared with 0.35% for XOP.

Which ETF pays a higher dividend yield, XOP or PBOG?

XOP has the higher dividend yield at 1.90%, compared with 0.13% for PBOG.

What is the main difference between XOP and PBOG?

XOP is categorized as Energy Equities, while PBOG is Oil & Gas. XOP tracks S&P Oil & Gas Exploration & Production Select Industry, while PBOG tracks BITA Global Oil & Gas Select Index. They also come from different issuers: State Street and Portfolio Building Blocks. Their fees differ too: 0.35% for XOP and 0.13% for PBOG.