XOP vs. XLEI

Last updated Jun 5, 2026

XOP (SPDR S&P Oil & Gas Exploration & Production ETF) and XLEI (State Street Energy Select Sector SPDR Premium Income ETF) are both Energy Equities funds from State Street - XOP tracks the S&P Oil & Gas Exploration & Production Select Industry while XLEI tracks the S&P Energy Select Sector. Both are passively managed. Their correlation of 0.83 suggests significant overlap in exposure. Both charge a 0.35% expense ratio.

Performance

XOP vs. XLEI - 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 State Street Energy Select Sector SPDR Premium Income ETF (XLEI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XOP achieves a 35.99% return, which is significantly higher than XLEI's 20.69% return.

XOP

• 1D: -0.06%
• 1M: -5.30%
• YTD: 35.99%
• 6M: 26.73%
• 1Y: 45.20%
• 3Y*: 14.61%
• 5Y*: 14.84%
• 10Y*: 3.52%

XLEI

• 1D: 0.22%
• 1M: 1.27%
• YTD: 20.69%
• 6M: 19.80%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XOP vs. XLEI - Yearly Performance Comparison

	2026 (YTD)	2025
XOP SPDR S&P Oil & Gas Exploration & Production ETF	35.99%	-1.27%
XLEI State Street Energy Select Sector SPDR Premium Income ETF	20.69%	6.77%

Correlation

The correlation between XOP and XLEI is 0.83, 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 Jul 31, 2025	0.83

XOP vs. XLEI - Sectors Allocation Comparison

Sectors	XOP	XLEI
Energy	97.2%	-
Basic Materials	2.9%	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	100.3%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

XOP vs. XLEI — Risk / Return Rank

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

XOP

XOP Risk / Return Rank: 49
XOP Sharpe Ratio Rank: 49
XOP Sortino Ratio Rank: 43
XOP Omega Ratio Rank: 43
XOP Calmar Ratio Rank: 61
XOP Martin Ratio Rank: 47

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. XLEI - 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 State Street Energy Select Sector SPDR Premium Income ETF (XLEI). 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	XLEI	Difference
Sharpe ratio: Return per unit of total volatility	1.64	—	—
Sortino ratio: Return per unit of downside risk	2.14	—	—
Omega ratio: Gain probability vs. loss probability	1.27	—	—
Calmar ratio: Return relative to maximum drawdown	3.00	—	—
Martin ratio: Return relative to average drawdown	7.66	—	—
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	XLEI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.64	—	—
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	2.67	-2.61

Drawdowns

XOP vs. XLEI - Drawdown Comparison

The maximum XOP drawdown since its inception was -90.27%, which is greater than XLEI's maximum drawdown of -7.98%. Use the drawdown chart below to compare losses from any high point for XOP and XLEI.

Drawdown Indicators

	XOP	XLEI	Difference
Max Drawdown Largest peak-to-trough decline	-90.27%	-7.98%	-82.29%
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	-36.44%	-0.75%	-35.69%
Average Drawdown Average peak-to-trough decline	-42.59%	-1.52%	-41.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.92%	—	—

Volatility

Volatility by Period

	XOP	XLEI	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.03%	—	—
Volatility (6M) Calculated over the trailing 6-month period	21.57%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	27.74%	13.13%	+14.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.88%	13.13%	+20.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.27%	13.13%	+27.14%

XOP vs. XLEI - Expense Ratio Comparison

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

Dividends

XOP vs. XLEI - Dividend Comparison

XOP's dividend yield for the trailing twelve months is around 1.90%, less than XLEI's 16.55% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
XLEI State Street Energy Select Sector SPDR Premium Income ETF	16.55%	10.17%	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 XLEI in my portfolio?

XOP and XLEI have a correlation of 0.83, 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 XLEI?

Both ETFs have the same 0.35% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XOP or XLEI?

XOP and XLEI have the same expense ratio: 0.35% per year.

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

XLEI has the higher dividend yield at 16.55%, compared with 1.90% for XOP.

What is the main difference between XOP and XLEI?

XOP tracks S&P Oil & Gas Exploration & Production Select Industry, while XLEI tracks S&P Energy Select Sector.