SPY vs XOP
State Street SPDR S&P 500 ETF Trust vs State Street SPDR S&P Oil & Gas Exploration & Production ETF
Which is better, SPY or XOP?
Each has led over a different period.
SPY has a lower expense ratio. SPY led over 3Y and the full window, XOP over 1Y and 5Y. XOP is less concentrated, with 31.2% of the fund in its ten largest positions against 38.2%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | SPY | XOP |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.35% |
| AUM | $823.2B | $3.7B |
| Dividend Yield | 0.99% | 1.72% |
| Holdings | 1,515 | 54 |
| YTD Return | +13.53% | +55.40%Best |
| 1Y Return | +17.47% | +60.04%Best |
| 3Y Return (annualized) | +22.36%Best | +12.01% |
| 5Y Return (annualized) | +13.21% | +15.94%Best |
| Volatility (annualized) | 15.2%Best | 37.1% |
| Max Drawdown | -56.5%Best | -91.0% |
| $10,000 over 5 years | $18,596 | $20,949Best |
| Top 10 Weight | 38.2% | 31.2%Best |
| Fund Family | State Street Investment Management | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jan 22, 1993 | Jun 19, 2006 |
Volatility and max drawdown are measured over the window both funds cover: Jun 22, 2006 to Oct 14, 2026 (20.3 years).
SPY vs XOP growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 20.3 years both funds cover.
SPY vs XOP Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and State Street SPDR S&P Oil & Gas Exploration & Production ETF (XOP) is an ETF from State Street Investment Management. Over the past year SPY returned +17.47% while XOP returned +60.04%. Year to date, SPY is up 13.53% versus a gain of 55.40% for XOP.
Over three years, SPY compounded at +22.36% per year against +12.01% for XOP; over five years the annualized figures are +13.21% and +15.94% respectively. Across the full 20-year window we track, SPY has the edge at +9.80% annualized vs +2.42%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
XOP has been the more volatile fund, with annualized monthly volatility of 37.1% compared with 15.2% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -56.5% for SPY and -91.0% for XOP. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.56. They move together some of the time, and apart the rest.
Fees and Cost Over Time
SPY charges 0.09% per year while XOP charges 0.35%. On a $10,000 position that is $9 vs $35 annually, a gap of $26 per year that compounds over a long holding period. On income, SPY currently yields 0.99% against 1.72% for XOP.
Holdings Overlap
2.9% of SPY's money is in holdings XOP also owns. 35.0% of XOP's money is in holdings SPY also owns.
The two portfolios partly overlap.
14 positions in common, counted across the 504 positions we hold weights for in SPY and 52 in XOP, against full books of 1,515 and 54.
What only one of them owns
Measured across the 504 and 52 positions we hold weights for.
SPY holds 482 positions XOP does not, 96.2% of the fund.
Largest: NVDA 7.78%, AAPL 7.45%, MSFT 5.71%, AMZN 3.78%, GOOGL 3.12%
Top Shared Holdings
| Stock | Weight in SPY | Weight in XOP | Difference |
|---|---|---|---|
| VLOValero Energy | 0.17% | 3.24% | 3.07% |
| MPCMarathon Petroleum Corp | 0.18% | 3.22% | 3.04% |
| XOMExxonmobil Corp. | 1.04% | 2.36% | 1.32% |
| PSXPhillips 66 | 0.16% | 3.06% | 2.90% |
| CVXChevron Corp | 0.60% | 2.42% | 1.82% |
| COPConocophillips Common Stock USD 0.01 | 0.25% | 2.45% | 2.20% |
| APAApa Corp | 0.02% | 2.52% | 2.50% |
| DVNDevon Energy Corp. | 0.09% | 2.31% | 2.22% |
| OXYOccidental Petroleum Corp. | 0.07% | 2.31% | 2.24% |
| EOGEog Resources Inc | 0.12% | 2.25% | 2.13% |
35.0% of XOP is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, SPY or XOP?
SPY has an expense ratio of 0.09% while XOP charges 0.35%. SPY is the cheaper option, by $26 a year on a $10,000 investment.
Which performed better, SPY or XOP?
Over the past year SPY returned +17.47% vs +60.04% for XOP, so XOP leads on 1-year performance. Over the longest common window we track (20 years), SPY annualized +9.80% vs +2.42% for XOP. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or XOP?
XOP has been the more volatile fund at 37.1% annualized versus 15.2% for SPY. Worst drawdown: SPY -56.5% vs XOP -91.0%.
Should I hold both SPY and XOP?
SPY and XOP have a monthly-return correlation of 0.56, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between SPY and XOP?
35.0% of XOP's money is in holdings SPY also owns. 35.0% of XOP's is in holdings SPY also owns. They hold 14 positions in common, counted across the 504 positions we hold weights for in SPY and 52 in XOP.
Which pays a higher dividend, SPY or XOP?
SPY yields 0.99% while XOP yields 1.72%, so XOP currently pays the higher dividend yield.
Is XOP better than SPY?
SPY has a lower expense ratio. SPY led over 3Y and the full window, XOP over 1Y and 5Y. XOP is less concentrated, with 31.2% of the fund in its ten largest positions against 38.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.