XLE vs XOP ETF Comparison: AI Score, Valuation, Performance and Upside
XLE and XOP are both energy funds with very different risk. XLE is dominated by integrated majors whose refining and chemicals operations cushion commodity swings and whose dividends are reliable. XOP holds exploration and production companies at roughly equal weight, giving far more direct leverage to oil and gas prices and considerably more volatility.
Use this XLE vs XOP comparison to size your commodity leverage deliberately. XLE behaves like a dividend-paying sector holding with moderate oil sensitivity. XOP behaves much more like a bet on the commodity itself, which is appropriate for a tactical position and uncomfortable as a long-term core holding.
XLE holds the edge across 5 of 5 key metrics in this comparison. XLE has delivered stronger 1-year price return (+40.01% vs +36.08% for XOP).
- Want energy sector exposure anchored by large integrated majors
- Value dividends and balance sheet strength within the sector
- Prefer moderated commodity sensitivity
- Accept heavy concentration in the two largest holdings
- Want direct leverage to rising oil and gas prices
- Prefer equal weighting that includes smaller producers meaningfully
- Are making a tactical rather than a core allocation
- Accept high volatility and weaker balance sheets among holdings
| Metric | XLE | XOP |
|---|---|---|
| ETF scorei | 88.0 | 79.0 |
| Latest closei | $62.04 | $181.50 |
| 1M returni | -0.03% | -1.21% |
| 6M returni | +0.48% | -2.69% |
| 1Y returni | +40.01% | +36.08% |
The ETF score weights long-term returns and risk-adjusted performance most heavily, but still rewards low expense ratios, larger fund size, and broader diversification — so it can favor low-cost, broad, mega-cap funds over smaller thematic or actively-managed funds even when the latter have delivered stronger returns.
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | XLE | XOP |
|---|---|---|
| 1Y ago | $14.4K (+44.0%) started 2025-09-25 | $13.89K (+38.9%) started 2025-09-25 |
| 5Y ago | $33.93K (+239.3%) started 2021-09-27 | $23.54K (+135.4%) started 2021-09-27 |
| 10Y ago | $45.54K (+355.4%) started 2016-09-26 | $18.93K (+89.3%) started 2016-09-26 |
Hypothetical — past performance does not guarantee future results.
| Metric | XLE | XOP |
|---|---|---|
| Expense ratioi | 0.08% | 0.35% |
| Total assets (AUM)i | $41.44B | $3.99B |
| Dividend yieldi | 2.37% | 1.72% |
| Trailing P/Ei | 17.21 | 10.49 |
| Betai | 0.49 | 0.64 |
| 52-week change | 40.01% | 36.08% |
| Metric | XLE | XOP |
|---|---|---|
| 1Y returni | +40.01% | +36.08% |
| 6M returni | +0.48% | -2.69% |
| 1M returni | -0.03% | -1.21% |
| 1Y Sharpe ratio | 1.45 | 1.05 |
| Betai | 0.49 | 0.64 |
| Dividend yieldi | 2.37% | 1.72% |
| 5Y CAGR | +22.95% | +15.73% |
Over the past year, XLE and XOP have moved strongly in the same direction (correlation of 0.90), based on daily returns.
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
| Period | Metric | XLE | XOP |
|---|---|---|---|
| 1Y | Growthi | +40.01% | +36.08% |
| CAGRi | +40.04% | +36.11% | |
| Volatilityi | 21.92% | 29.20% | |
| Sharpe ratioi | 1.45 | 1.05 | |
| Sortino ratioi | 2.11 | 1.49 | |
| Max drawdowni | 14.98% | 18.50% | |
| Current drawdowni | 5.34% | 8.75% | |
| Avg drawdowni | 4.15% | 6.10% | |
| Ulcer Indexi | 5.71% | 7.85% | |
| Max daily dropi | 4.12% | 6.24% | |
| Max wkly dropi | 7.02% | 9.38% | |
| 5Y | Growthi | +180.64% | +107.37% |
| CAGRi | +22.95% | +15.73% | |
| Volatilityi | 25.50% | 32.91% | |
| Sharpe ratioi | 0.77 | 0.47 | |
| Sortino ratioi | 1.07 | 0.66 | |
| Max drawdowni | 26.04% | 34.98% | |
| Current drawdowni | 5.34% | 8.75% | |
| Avg drawdowni | 6.81% | 13.09% | |
| Ulcer Indexi | 8.47% | 15.09% | |
| Max daily dropi | 9.20% | 10.68% | |
| Max wkly dropi | 18.68% | 23.06% | |
| 10Y | Growthi | +176.56% | +52.74% |
| CAGRi | +10.71% | +4.33% | |
| Volatilityi | 29.59% | 40.12% | |
| Sharpe ratioi | 0.34 | 0.20 | |
| Sortino ratioi | 0.48 | 0.28 | |
| Max drawdowni | 66.81% | 82.61% | |
| Current drawdowni | 5.34% | 8.75% | |
| Avg drawdowni | 13.95% | 26.42% | |
| Ulcer Indexi | 19.30% | 33.23% | |
| Max daily dropi | 20.14% | 36.87% | |
| Max wkly dropi | 34.55% | 46.97% |
| Category | XLE | XOP |
|---|---|---|
| Fund name | State Street Energy Select Sector SPDR ETF | State Street SPDR S&P Oil & Gas Exploration & Production ETF |
| Type | ETF | ETF |
| Expense ratioi | 0.08% | 0.35% |
| Total assets (AUM)i | $41.44B | $3.99B |
| Dividend yieldi | 2.37% | 1.72% |
- Dominated by large integrated majors with strong balance sheets and reliable dividends
- Integration across refining and chemicals dampens pure commodity swings
- High liquidity and low cost for sector exposure
- Pure upstream exposure gives much stronger leverage to rising oil and gas prices
- Equal weighting prevents domination by the largest producers
- Includes smaller producers that broad sector funds barely hold
- Extremely concentrated, with two holdings representing a very large share of assets
- Less upside than pure producers when crude prices rise sharply
- Still a single-sector fund exposed to the energy cycle
- Substantially more volatile than a diversified energy sector fund
- Smaller producers often carry more debt and weaker cost structures
- Equal weighting requires regular rebalancing, raising turnover
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Volatility, Sharpe and Sortino ratios, maximum, current, and average drawdown, Ulcer Index, and worst single-day and single-week drops across every timeframe.
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