XOP — State Street SPDR S&P Oil & Gas Exploration & Production ETF

XOP Price Performance — Growth of $10,000

Value of a $10,000 investment in XOP over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

XOP Drawdown

The "underwater" chart: XOP's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The State Street SPDR S&P Oil & Gas Exploration & Production ETF (XOP) is an Energy sector fund managed by State Street Investment Management with $2.91 billion in assets under management. It holds an overall rank of #232 out of 458 tracked ETFs across all categories and has received an ETFValuer grade of C with a score of 60.7 out of 100. The fund charges an expense ratio of 0.35% and offers a dividend yield of 0.79%. Trading at a price of $174.05, the fund's substantial asset base suggests significant investor adoption within the Energy category, which contains 10 ETFs tracked by ETFValuer. This positioning places XOP as a mid-tier performer in the broader market while maintaining a notable presence in its specific sector. The combination of a moderate expense ratio and low dividend yield reflects the fund's focus on capital appreciation rather than income generation. Its current market capitalization and rank indicate it is a widely followed vehicle for exposure to oil and gas exploration and production companies.

XOP has demonstrated a strong upward trajectory over the past year, delivering a 1-year return of 38.64% and a year-to-date gain of 36.17%. This long-term strength is supported by a 3-month return of 3.15% and a 6-month return of 30.53%, indicating sustained momentum over the last half-year. The 3-year return stands at 30.62%, showing consistent performance over a longer horizon despite recent fluctuations. Short-term data reveals a sharp reversal, with a 1-day decline of 0.92% following a 1-week gain of 2.27%. The 1-month return of 13.74% suggests a period of rapid acceleration that preceded the recent daily pullback. This pattern highlights a divergence between the robust multi-month gains and the immediate daily volatility observed in the most recent trading session.

The fund carries a High volatility label and exhibits a negative beta of -0.12, suggesting its price movements have historically moved inversely to the broader market benchmark. Despite this inverse correlation, the fund has experienced a significant maximum drawdown of -34.98%, indicating substantial potential for capital loss during market downturns. A Sharpe ratio of 1.19 implies that the returns generated have been efficient relative to the total risk taken, balancing the high volatility with strong performance. The combination of a negative beta and high volatility suggests the fund may act as a hedge in certain market conditions while still exposing investors to severe downside risks. This profile indicates a complex risk dynamic where the fund offers diversification benefits through its negative correlation but requires tolerance for large price swings and deep drawdowns.

AI-generated summary based on the data on this page.

XOP Top Holdings

Holdings as of 2026-03-31 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 29.6% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how XOP's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With XOP

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with XOP's top 10 — SLYV overlaps most, holding 2 of the same companies as XOP's top 10 (7.5% of XOP's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 4.71% (as of 2026-07-23) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 18.70 (as of 2026-07-23) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

XOP Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is — and average daily volume is 3.6M/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $2.91B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: XOP is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

XOP Performance History

How XOP Compares to Other Energy ETFs