XOP vs. TPZ
XOP (SPDR S&P Oil & Gas Exploration & Production ETF) and TPZ (Tortoise Electrification Infrastructure ETF) are both Energy Equities funds. XOP is passively managed, while TPZ is actively managed. Over the past 10 years, XOP returned 3.71%/yr vs 8.62%/yr for TPZ. At a 0.50 correlation, their price movements are largely independent. XOP charges 0.35%/yr vs 0.85%/yr for TPZ.
Performance
XOP vs. TPZ - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, XOP achieves a 33.00% return, which is significantly higher than TPZ's 10.28% return. Over the past 10 years, XOP has underperformed TPZ with an annualized return of 3.71%, while TPZ has yielded a comparatively higher 8.62% annualized return.
XOP
- 1D
- 0.96%
- 1M
- 6.42%
- 6M
- 28.90%
- YTD
- 33.00%
- 1Y
- 34.38%
- 3Y*
- 11.29%
- 5Y*
- 17.91%
- 10Y*
- 3.71%
TPZ
- 1D
- 0.03%
- 1M
- 2.16%
- 6M
- 7.44%
- YTD
- 10.28%
- 1Y
- 13.35%
- 3Y*
- 25.21%
- 5Y*
- 18.00%
- 10Y*
- 8.62%
XOP vs. TPZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XOP SPDR S&P Oil & Gas Exploration & Production ETF | 33.00% | -2.15% | -1.00% | 3.56% | 45.37% | 66.74% | -36.40% | -9.44% | -28.10% | -9.47% |
TPZ Tortoise Electrification Infrastructure ETF | 10.28% | 5.67% | 53.88% | 20.72% | 2.44% | 29.31% | -27.84% | 15.61% | -16.12% | -0.30% |
Correlation
The correlation between XOP and TPZ is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Jul 29, 2009 | 0.50 |
Over the past year, the correlation between XOP and TPZ has dropped to 0.24 - well below their long-term average of 0.50, suggesting their price drivers have been diverging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
XOP vs. TPZ — Risk / Return Rank
XOP
TPZ
XOP vs. TPZ - 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 Tortoise Electrification Infrastructure ETF (TPZ). 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 | TPZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.25 | ||
| Sortino ratioReturn per unit of downside risk | +0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.17 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.87 | 2.13 | -0.27 |
| Martin ratioReturn relative to average drawdown | 4.54 | 4.70 | -0.17 |
Loading charts...
Drawdowns
XOP vs. TPZ - Drawdown Comparison
The maximum XOP drawdown since its inception was -90.27%, which is greater than TPZ's maximum drawdown of -78.17%. Use the drawdown chart below to compare losses from any high point for XOP and TPZ.
Loading charts...
Drawdown Indicators
| XOP | TPZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.27% | -78.17% | -12.10% |
Max Drawdown (1Y)Largest decline over 1 year | -18.50% | -6.29% | -12.21% |
Max Drawdown (3Y)Largest decline over 3 years | -34.98% | -17.78% | -17.20% |
Max Drawdown (5Y)Largest decline over 5 years | -34.98% | -17.78% | -17.20% |
Max Drawdown (10Y)Largest decline over 10 years | -82.61% | -77.04% | -5.57% |
Current DrawdownCurrent decline from peak | -37.84% | -2.59% | -35.25% |
Average DrawdownAverage peak-to-trough decline | -42.57% | -11.88% | -30.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.59% | 2.84% | +4.75% |
Volatility
XOP vs. TPZ - Volatility Comparison
SPDR S&P Oil & Gas Exploration & Production ETF (XOP) has a higher volatility of 6.72% compared to Tortoise Electrification Infrastructure ETF (TPZ) at 3.91%. This indicates that XOP's price experiences larger fluctuations and is considered to be riskier than TPZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| XOP | TPZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.72% | 3.91% | +2.81% |
Volatility (6M)Calculated over the trailing 6-month period | 22.11% | 10.78% | +11.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.20% | 13.76% | +14.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.66% | 17.69% | +15.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.15% | 27.70% | +12.45% |
XOP vs. TPZ - Expense Ratio Comparison
XOP has a 0.35% expense ratio, which is lower than TPZ's 0.85% expense ratio.
Dividends
XOP vs. TPZ - Dividend Comparison
XOP's dividend yield for the trailing twelve months is around 1.95%, less than TPZ's 3.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TPZ Tortoise Electrification Infrastructure ETF | 3.69% | 3.99% | 5.88% | 8.99% | 9.52% | 4.77% | 8.80% | 8.84% | 9.41% | 7.28% | 6.88% | 9.68% |
XOP SPDR S&P Oil & Gas Exploration & Production ETF | 1.95% | 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 TPZ have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XOP has higher volatility (6.72%) compared to TPZ (3.91%). In terms of maximum drawdown, XOP dropped -90.27% vs TPZ's -78.17%.
On 10-year performance, TPZ leads with 8.62% vs 3.71% for XOP. On fees, XOP is cheaper at 0.35% per year. On volatility, TPZ has been the lower-risk option at 3.91%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, TPZ has performed better with a 8.62% return vs 3.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XOP is cheaper with a 0.35% expense ratio, compared with 0.85% for TPZ.
TPZ has the higher dividend yield at 3.69%, compared with 1.95% for XOP.
They also come from different issuers: State Street and Tortoise. Their fees differ too: 0.35% for XOP and 0.85% for TPZ.
XOP currently has the higher Sharpe Ratio (1.23 vs 0.97), 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.
Find the right allocation for XOP and TPZ
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer