SPDR S&P Oil & Gas Equipment & Services ETF (XES) Performance
XES total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +34.2% since Dec 31, 2025
- 1 year
- +39.7% total return
- 5 years
- +13.7% a year
- 10 years
- −4.5% a year
- Since first price
- −3.6% a year since 2006
XES trailing returns vs SPY, QQQ, AGG
| Period | XES total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −3.5% | −3.5% | −1.0% | −5.0% | +0.9% |
| 3 months | −3.8% | −4.0% | +3.2% | +1.9% | −0.4% |
| 6 months | −11.0% | −11.5% | +7.8% | +8.4% | −1.5% |
| YTD | +34.2% | +33.1% | +12.3% | +15.1% | −1.0% |
| 1 year | +39.7% | +38.1% | +14.4% | +15.9% | −1.1% |
| 3 years | +23.7%+7.3%/yr | +18.6% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +89.8%+13.7%/yr | +80.3% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | −36.8%−4.5%/yr | −44.4% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | −60.8%−6.1%/yr | −67.3% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| 20 years | −50.9%−3.5%/yr | −60.2% | +696.9%+10.9%/yr | +1,839.9%+16.0%/yr | +79.6%+3.0%/yr |
| Since inceptionJun 22, 2006 | −52.4%−3.6%/yr | −61.4% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: XES vs SPY
From Jun 22, 2006: XES grew to $4,763, SPY to $88,403.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
XES returns by calendar year
10 of 19 full years positive. Best 2009 (+67.8%), worst 2008 (−57.6%). 2026 is year to date.
XES annual returns table
| Year | XES | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +34.2% | −21.6% | +12.3% | +15.1% | −1.0% |
| 2025 | +5.9% | −39.3% | +17.7% | +20.8% | +7.2% |
| 2024 | −5.4% | −23.8% | +24.9% | +25.6% | +1.3% |
| 2023 | +6.7% | −26.1% | +26.2% | +54.9% | +5.7% |
| 2022 | +62.0% | −37.6% | −18.2% | −32.6% | −13.0% |
| 2021 | +12.0% | −32.7% | +28.7% | +27.4% | −1.8% |
| 2020 | −43.4% | −76.3% | +18.3% | +48.6% | +7.5% |
| 2019 | −9.0% | −47.4% | +31.2% | +39.0% | +8.5% |
| 2018 | −47.0% | −56.2% | −4.6% | −0.1% | +0.1% |
| 2017 | −21.9% | −45.2% | +21.7% | +32.7% | +3.6% |
| 2016 | +28.4% | −26.7% | +12.0% | +7.1% | +2.4% |
| 2015 | −36.6% | −43.0% | +1.2% | +9.4% | +0.5% |
| 2014 | −34.7% | −47.6% | +13.5% | +19.2% | +6.0% |
| 2013 | +27.1% | −11.6% | +32.3% | +36.6% | −2.0% |
| 2012 | +0.6% | −29.3% | +16.0% | +18.1% | +3.8% |
| 2011 | −5.3% | −39.7% | +1.9% | +3.4% | +7.7% |
| 2010 | +30.1% | −26.0% | +15.1% | +19.9% | +6.4% |
| 2009 | +67.8% | −26.5% | +26.4% | +54.7% | +3.0% |
| 2008 | −57.6% | −73.0% | −36.8% | −41.7% | +7.9% |
| 2007 | +38.3% | −13.8% | +5.1% | +19.0% | +6.6% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
XES largest drawdowns
Now 74.1% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jun 23, 2008 | −95.7% | Mar 18, 2020 | not yet | 11.7 years | 18.3 years so far |
| Jul 3, 2006 | −20.5% | Oct 3, 2006 | Dec 14, 2006 | 3 months | 5 months |
| Jan 3, 2008 | −18.0% | Feb 6, 2008 | Apr 14, 2008 | 34 days | 3 months |
| Dec 14, 2006 | −15.6% | Jan 11, 2007 | Mar 26, 2007 | 28 days | 3 months |
| Jul 23, 2007 | −13.8% | Aug 16, 2007 | Sep 19, 2007 | 24 days | 58 days |
| Oct 15, 2007 | −12.3% | Nov 12, 2007 | Jan 3, 2008 | 28 days | 3 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
XES risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2006 |
|---|---|---|---|---|
| Annualized return | +5.4% | +15.8% | −4.3% | −4.1% |
| Volatility (annualized) | 30.1% | 38.0% | 46.1% | 39.7% |
| Sharpe ratio | 0.18 | 0.47 | 0.10 | 0.07 |
| Sortino ratio | 0.27 | 0.82 | 0.15 | 0.10 |
| Best month | +20.8% | +42.3% | +42.8% | +42.8% |
| Worst month | −19.8% | −22.2% | −57.2% | −57.2% |
| Best 12 months | +130.8% | +130.8% | +139.9% | +139.9% |
| Worst 12 months | −35.1% | −35.1% | −79.9% | −79.9% |
| Positive months | 56% | 57% | 53% | 55% |
| Beta vs S&P 500 | 0.82 | 1.03 | 1.75 | — |
| Correlation with S&P 500 | 0.34 | 0.42 | 0.58 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
XES rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 233 | −79.9% | +5.3% | +139.9% | 53% |
| 3-year (a year) | 209 | −50.8% | −3.8% | +52.1% | 43% |
| 5-year (a year) | 185 | −37.3% | −8.8% | +27.1% | 34% |
| 10-year (a year) | 125 | −21.8% | −11.8% | −1.6% | 0% |
Every holding period starting at a month-end since 2006. Returns for 3 years and longer are annualized.
XES performance overview
SPDR S&P Oil & Gas Equipment & Services ETF (XES) returned +39.7% over the past year and −4.5% a year over ten years, with distributions reinvested. Since its first recorded price in 2006 it has returned −3.6% a year, turning $10,000 into about $4,763. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −95.7%, from Jun 23, 2008 to Mar 18, 2020; the fund has not yet regained that high. XES finished 10 of its 19 full calendar years with a gain; the best year was 2009 (+67.8%) and the worst 2008 (−57.6%). Volatility has been 39.7% a year.
Related: XES chart, XES holdings, XES dividends, XES valuation. See the XES overview for the latest quote and fund facts.
XES performance FAQ
What is the XES return over the past year?
XES returned +39.7% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 38.1%.
What is the average annual return of XES?
XES has returned +13.7% a year over 5 years, −4.5% a year over 10 years, −3.6% a year since June 22, 2006 (total return, distributions reinvested).
How much would $10,000 invested in XES be worth?
$10,000 invested in XES at its first recorded close on June 22, 2006 would be worth about $4,763 on October 23, 2026 with distributions reinvested.
What was the worst year for XES?
The worst calendar year was 2008, with a total return of −57.6%. The best was 2009 at +67.8%.
What is the biggest drawdown of XES?
The largest peak-to-trough decline was −95.7% between June 23, 2008 and March 18, 2020. It has not yet recovered to that high; it is 74.1% below its peak.
How volatile is XES?
Over the past 3 years XES had an annualized volatility of 30.1% and a Sharpe ratio of 0.18 (excess return over 1–3 month T-bills per unit of risk).