XOP vs. RAYS

Last updated Aug 2, 2026

XOP (SPDR S&P Oil & Gas Exploration & Production ETF) and RAYS (Global X Solar ETF) are both exchange-traded funds - XOP is a Energy Equities fund tracking the S&P Oil & Gas Exploration & Production Select Industry, while RAYS is a Alternative Energy Equities fund tracking the Solactive Solar Index. Both are passively managed. XOP charges 0.35%/yr vs 0.50%/yr for RAYS.

Performance

XOP vs. RAYS - 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 Global X Solar ETF (RAYS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

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%

RAYS

• 1D: 0.00%
• 1M: 0.00%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
RAYS Global X Solar ETF	$0.00	$0.00	$0.00
XOP SPDR S&P Oil & Gas Exploration & Production ETF	$553.31M	$544.38M	$598.08M

XOP vs. RAYS - Yearly Performance Comparison

	2026 (YTD)
XOP SPDR S&P Oil & Gas Exploration & Production ETF	26.53%
RAYS Global X Solar ETF	0.00%

XOP vs. RAYS - Sectors Allocation Comparison

Sectors	XOP	RAYS
Energy	95.1%	-
Basic Materials	4.3%	0.9%
Industrials	2.2%	21.4%
Technology	0.6%	66.9%
Communication Services	-	-
Consumer Cyclical	-	4.0%
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	6.8%

Return for Risk

XOP vs. RAYS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

XOP

XOP Risk / Return Rank: 58
XOP Sharpe Ratio Rank: 64
XOP Sortino Ratio Rank: 57
XOP Omega Ratio Rank: 56
XOP Calmar Ratio Rank: 65
XOP Martin Ratio Rank: 48

RAYS

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

XOP vs. RAYS - 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 Solar ETF (RAYS). 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	RAYS	Difference
Sharpe ratio: Return per unit of total volatility	1.47	—	—
Sortino ratio: Return per unit of downside risk	1.96	—	—
Omega ratio: Gain probability vs. loss probability	1.24	—	—
Calmar ratio: Return relative to maximum drawdown	2.26	—	—
Martin ratio: Return relative to average drawdown	5.48	—	—

Drawdowns

XOP vs. RAYS - Drawdown Comparison

The maximum XOP drawdown since its inception was -90.27%, which is greater than RAYS's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for XOP and RAYS.

Drawdown Indicators

	XOP	RAYS	Difference
Max Drawdown Largest peak-to-trough decline	-90.27%	0.00%	-90.27%
Max Drawdown (1Y) Largest decline over 1 year	-18.50%	—	—
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	-33.74%	0.00%	-33.74%
Average Drawdown Average peak-to-trough decline	-42.56%	0.00%	-42.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.67%	—	—

Volatility

Volatility by Period

	XOP	RAYS	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.28%	—	—
Volatility (6M) Calculated over the trailing 6-month period	22.52%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	28.49%	0.00%	+28.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.53%	0.00%	+33.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.15%	0.00%	+40.15%

XOP vs. RAYS - Expense Ratio Comparison

XOP has a 0.35% expense ratio, which is lower than RAYS's 0.50% expense ratio.

Dividends

XOP vs. RAYS - Dividend Comparison

XOP's dividend yield for the trailing twelve months is around 1.83%, while RAYS has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RAYS Global X Solar 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	1.83%	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

Which ETF is better, XOP or RAYS?

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.

Which ETF is cheaper, XOP or RAYS?

XOP is cheaper with a 0.35% expense ratio, compared with 0.50% for RAYS.

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

XOP has the higher dividend yield at 1.83%, compared with 0.00% for RAYS.

What is the main difference between XOP and RAYS?

XOP is categorized as Energy Equities, while RAYS is Alternative Energy Equities. XOP tracks S&P Oil & Gas Exploration & Production Select Industry, while RAYS tracks Solactive Solar Index. They also come from different issuers: State Street and Global X. Their fees differ too: 0.35% for XOP and 0.50% for RAYS.