Dividend comparison
XLE vs XOP: Which Is Better?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for State Street Energy Select Sector SPDR ETF and State Street SPDR S&P Oil & Gas Exploration & Production ETF, side by side. Updated October 21, 2026.
XLE vs XOP: key differences
The short answer, from the latest data on this page.
- Fees. XLE is cheaper at 0.08% a year versus 0.35% for XOP. On $10,000 that is $27 a year less in fees.
- Income. XLE pays more income, yielding 2.24% over the last twelve months versus 1.56% for XOP. That is about $68 more a year on $10,000. Both pay quarterly.
- Performance. Over the last 5 years, XLE returned 175.3% versus 108.1% for XOP, with dividends reinvested. $10,000 would have grown to $27,529 in XLE and $20,806 in XOP.
- Risk. XOP has been the bumpier ride. Its worst peak-to-trough decline over the last 5 years was -35.0%, against -26.0% for XLE.
- Diversification. XOP holds 51 positions and XLE holds 21. The ten largest positions make up 78.8% of XLE and 28.6% of XOP.
- Overlap. 31% of the two portfolios overlap by weight, across 16 shared holdings.
- Dividend growth. XOP grew its yearly payout 21.0% a year over the last 4 years, versus 5.8% for XLE.
- Size. XLE is the larger fund with $44.8 billion in assets, against $4.4 billion for XOP.
Bottom line: XLE fits better if you care most about lower fees, more income today, stronger 5-year returns and smaller drawdowns. XOP fits better if you care most about faster dividend growth and broader diversification.
Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
| Metric | XLE State Street Energy Select Sector SPDR ETF | XOP State Street SPDR S&P Oil & Gas Exploration & Production ETF |
|---|---|---|
| Dividend yield (TTM) | 2.24% | 1.56% |
| Dividend / share (TTM) | $1.52 | $3.12 |
| Payout frequency | Quarterly | Quarterly |
| Last dividend | $0.3803 on Sep 23, 2026 | $0.7575 on Sep 23, 2026 |
| Ex-dividend date | Sep 21, 2026 | Sep 21, 2026 |
| Dividend growth (CAGR) | 5.8% over 4 yrs | 21.0% over 4 yrs |
| Price | $67.97 | $200.05 |
| Dividend growth streak | 1 year | 1 year |
| Beta | -0.02 | -0.12 |
| Max drawdown (5Y) | -26.0% | -35.0% |
| Market cap | $44.65B | $3.29B |
| Exchange | AMEX | AMEX |
| Expense ratio | 0.08% | 0.35% |
| Assets under management | $44.82B | $4.36B |
| Number of holdings | 21 | 51 |
| Top 10 concentration | 78.8% | 28.6% |
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.
XLE
$18.68/mo
$224 /yr at 2.24% yield
XOP
$13.02/mo
$156 /yr at 1.56% yield
Dividend history
Total dividends paid per share in each calendar year. XLE pays quarterly; XOP pays quarterly.
| Year | XLE | XOP |
|---|---|---|
| 2025 | $1.4647 | $3.3049 |
| 2024 | $1.4381 | $3.2408 |
| 2023 | $1.4885 | $3.5946 |
| 2022 | $1.6105 | $3.3534 |
| 2021 | $1.1686 | $1.5412 |
Strategy: Sector and thematic
Funds that hold a single industry or theme, such as technology, semiconductors, healthcare or energy. Funds covering the same sector can still differ in concentration rules: some cap the largest positions while others let the biggest companies take a quarter of the fund. Sector funds are usually used to tilt a portfolio rather than as its core.
A single sector can fall far further than the broad market and stay down for years, and the largest names often dominate the fund.
Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Oct 20, 2021 would now be worth $27,529 in XLE and $20,806 in XOP.
| Period | XLE | XOP |
|---|---|---|
| 1 month | 6.32% | 5.37% |
| 3 months | 18.00% | 18.12% |
| Year to date | 55.04% | 60.50% |
| 1 year | 60.88% | 62.95% |
| 3 years | 64.54% | 42.30% |
| 5 years | 175.29% | 108.06% |
- XLE
- XOP
Both series indexed to 100 on 2021-10-20 using the adjusted closing price series. Past performance does not guarantee future results.
Sector allocation
Weight of each sector within the fund. Sectors are aligned on the same row so the two funds can be read against each other directly.
- XLE
- XOP
XLE vs XOP holdings overlap
31% overlap by weight, with 16 holdings in common. Overlap adds up the smaller of the two weights for every stock both funds own, so 100% would mean identical portfolios.
| Largest shared holdings | XLE weight | XOP weight |
|---|---|---|
| MPCMARATHON PETROLEUM CORP | 5.13% | 3.06% |
| VLOVALERO ENERGY CORP | 4.90% | 2.88% |
| PSXPHILLIPS 66 | 4.81% | 2.88% |
| XOMEXXONMOBIL HOLDINGS CORP | 23.85% | 2.80% |
| EOGEOG RESOURCES INC | 3.99% | 2.77% |
| COPCONOCOPHILLIPS | 7.11% | 2.75% |
| CVXCHEVRON CORP | 17.95% | 2.71% |
| DVNDEVON ENERGY CORP | 2.69% | 2.68% |
| OXYOCCIDENTAL PETROLEUM CORP | 2.19% | 2.64% |
| FANGDIAMONDBACK ENERGY INC | 2.01% | 2.59% |
Top 10 holdings
Largest positions by portfolio weight.
XLE21 holdings total
Quick verdict
XLE fits better if you care most about lower fees, more income today, stronger 5-year returns and smaller drawdowns. XOP fits better if you care most about faster dividend growth and broader diversification. Model the holding inside your real portfolio before deciding.
Still deciding? Compare them in your portfolio
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Frequently asked questions
Is XLE or XOP better for dividend income?
It depends on your goals. XLE currently yields 2.24% Trailing Twelve Months (TTM) while XOP yields 1.56%. Higher yield means more current income per dollar invested, but may come with different risk, growth, or NAV characteristics. Compare total return and payout sustainability — not just the headline yield.
What is the difference between XLE and XOP?
State Street Energy Select Sector SPDR ETF (XLE) is an ETF listed on AMEX. State Street SPDR S&P Oil & Gas Exploration & Production ETF (XOP) is an ETF listed on AMEX. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, XLE or XOP?
XLE has the lower expense ratio. XLE charges 0.08% a year and XOP charges 0.35%, a difference of $27 a year on a $10,000 investment.
Which has performed better, XLE or XOP?
Over the last 5 years, XLE has the higher total return with dividends reinvested: XLE returned 175.3% and XOP returned 108.1%. Past performance does not predict future returns.
Which is riskier, XLE or XOP?
Measured by the worst peak-to-trough decline over the last five years, XOP has been riskier: XLE fell as much as 26.0% and XOP as much as 35.0%. Their betas are -0.02 and -0.12.
How much do XLE and XOP overlap?
About 31% of the two portfolios overlap by weight, across 16 shared holdings. The largest shared positions are MPC, VLO, PSX. Holding both still adds meaningful diversification.
How often do XLE and XOP pay dividends?
Both pay quarterly. The most recent payments were $0.3803 for XLE and $0.7575 for XOP.
How much income does $10,000 in XLE vs XOP generate?
At current TTM yields, $10,000 in XLE would generate roughly $18.68 per month ($224 annually). The same amount in XOP would produce about $13.02 per month ($156 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both XLE and XOP?
Yes. Many income investors hold both to diversify strategy or index exposure. Whether the combination actually diversifies depends on overlapping holdings and factor exposure. Model both inside Dividend Wealth to see combined income, sector mix, and forecast impact.
Where can I compare XLE vs XOP with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how XLE and XOP fit alongside the rest of your portfolio. A 14-day free trial of Standard is available with no credit card required; a limited Free plan is also available.
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For informational and educational purposes only. Not investment advice. Past performance and current yields do not guarantee future results. Verify figures independently before making investment decisions.