State Street Energy Select Sector SPDR ETF (XLE)

Market Price (9/2/2026): $65.169

State Street Energy Select Sector SPDR ETF (XLE)

Market Price (9/2/2026): $65.169

Key Takeaways

XLE has returned +45.8% YTD vs +12.0% for SPY; +46.7% over the past 12 months (SPY +19.1%). details →
Priced in gold, XLE has returned -32.5% over the past 3 years, vs +56.0% in dollars — its dollar gains have lagged gold. details →
Over the past month, XLE has seen net outflows of −$661M (−1.6% of assets). details →
Analysts expect -5% revenue growth across XLE's holdings (next fiscal year) vs +13% for SPY; expected earnings growth: -15% vs +19%. details →
XLE's portfolio trades at 14.7x forward earnings — a 91% premium to SPY (7.7x). details →

Last updated: 9/1/2026.

Price Chart

ETF Price
Price/Gold

Asset Allocation with XLE

Risk Tolerance:

ConservativeModerateAggressive

Moderate — 55% equity / 25% bonds / 20% alternatives

10Y Return (ann.)

+10.1%

Volatility

17.9%

Sharpe

0.47

YTD

+27.1%

Modeled with monthly rebalancing to target weights; 10-year figures are annualized from monthly returns. Illustrative only — past performance is not indicative of future results.

	ETF	%	1D	1W	1M	YTD
Equity	XLE	25.0%	1.3%	4.4%	10.2%	45.8%
Bond	BND	50.0%	-0.3%	-0.9%	-0.1%	-0.5%
Gold	GLD	10.0%	-2.9%	-7.3%	6.7%	0.1%
Commodity	DBC	2.5%	2.0%	4.9%	10.6%	42.8%
Real Estate	VNQ	5.0%	-0.1%	-3.0%	-2.8%	11.0%
Bitcoin	BTCUSD	0.0%	0.0%	-0.0%	23.8%	-10.2%
Cash	GOVT	7.5%	-0.5%	-1.1%	-0.4%	-1.0%
Conservative Portfolio		100.0%	-0.1%	-0.2%	3.2%	12.8%

	ETF	%	1D	1W	1M	YTD
Equity	XLE	55.0%	1.3%	4.4%	10.2%	45.8%
Bond	BND	25.0%	-0.3%	-0.9%	-0.1%	-0.5%
Gold	GLD	7.0%	-2.9%	-7.3%	6.7%	0.1%
Commodity	DBC	4.0%	2.0%	4.9%	10.6%	42.8%
Real Estate	VNQ	5.0%	-0.1%	-3.0%	-2.8%	11.0%
Bitcoin	BTCUSD	2.0%	0.0%	-0.0%	23.8%	-10.2%
Cash	GOVT	2.0%	-0.5%	-1.1%	-0.4%	-1.0%
Moderate Portfolio		100.0%	0.5%	1.7%	6.8%	27.1%

	ETF	%	1D	1W	1M	YTD
Equity	XLE	80.0%	1.3%	4.4%	10.2%	45.8%
Bond	BND	5.0%	-0.3%	-0.9%	-0.1%	-0.5%
Gold	GLD	3.0%	-2.9%	-7.3%	6.7%	0.1%
Commodity	DBC	2.2%	2.0%	4.9%	10.6%	42.8%
Real Estate	VNQ	4.5%	-0.1%	-3.0%	-2.8%	11.0%
Bitcoin	BTCUSD	5.2%	0.0%	-0.0%	23.8%	-10.2%
Cash	GOVT	0.0%	-0.5%	-1.1%	-0.4%	-1.0%
Aggressive Portfolio		100.0%	1.0%	3.2%	9.7%	37.6%

	ETF	%	Return	Volatility	Sharpe
Equity	XLE	25.0%	10.7%	29.9%	0.39
Bond	BND	50.0%	1.3%	5.1%	-0.26
Gold	GLD	10.0%	12.0%	15.3%	0.61
Commodity	DBC	2.5%	7.9%	17.4%	0.33
Real Estate	VNQ	5.0%	4.9%	17.4%	0.20
Bitcoin	BTCUSD	0.0%	63.2%	76.0%	0.95
Cash	GOVT	7.5%	0.3%	4.9%	-0.48
Conservative Portfolio		100.0%	5.8%	9.2%	0.36

	ETF	%	Return	Volatility	Sharpe
Equity	XLE	55.0%	10.7%	29.9%	0.39
Bond	BND	25.0%	1.3%	5.1%	-0.26
Gold	GLD	7.0%	12.0%	15.3%	0.61
Commodity	DBC	4.0%	7.9%	17.4%	0.33
Real Estate	VNQ	5.0%	4.9%	17.4%	0.20
Bitcoin	BTCUSD	2.0%	63.2%	76.0%	0.95
Cash	GOVT	2.0%	0.3%	4.9%	-0.48
Moderate Portfolio		100.0%	10.1%	17.9%	0.47

	ETF	%	Return	Volatility	Sharpe
Equity	XLE	80.0%	10.7%	29.9%	0.39
Bond	BND	5.0%	1.3%	5.1%	-0.26
Gold	GLD	3.0%	12.0%	15.3%	0.61
Commodity	DBC	2.2%	7.9%	17.4%	0.33
Real Estate	VNQ	4.5%	4.9%	17.4%	0.20
Bitcoin	BTCUSD	5.2%	63.2%	76.0%	0.95
Cash	GOVT	0.0%	0.3%	4.9%	-0.48
Aggressive Portfolio		100.0%	13.9%	25.6%	0.53

Figures are on an annualized basis, based on monthly return data for the last 10 years

	ETF	%	Inflation Shock	Covid Pandemic	2018 Correction
Equity	XLE	25.0%	39.7%	-53.3%	-27.2%
Bond	BND	50.0%	-14.2%	-2.2%	1.3%
Gold	GLD	10.0%	-7.7%	-6.3%	5.0%
Commodity	DBC	2.5%	20.5%	-23.7%	-17.5%
Real Estate	VNQ	5.0%	-29.8%	-41.6%	-11.1%
Bitcoin	BTCUSD	0.0%	-56.0%	-33.5%	-37.4%
Cash	GOVT	7.5%	-12.4%	4.4%	1.6%
Conservative Portfolio		100.0%	0.2%	-17.4%	-6.5%

	ETF	%	Inflation Shock	Covid Pandemic	2018 Correction
Equity	XLE	55.0%	39.7%	-53.3%	-27.2%
Bond	BND	25.0%	-14.2%	-2.2%	1.3%
Gold	GLD	7.0%	-7.7%	-6.3%	5.0%
Commodity	DBC	4.0%	20.5%	-23.7%	-17.5%
Real Estate	VNQ	5.0%	-29.8%	-41.6%	-11.1%
Bitcoin	BTCUSD	2.0%	-56.0%	-33.5%	-37.4%
Cash	GOVT	2.0%	-12.4%	4.4%	1.6%
Moderate Portfolio		100.0%	15.7%	-33.9%	-16.2%

	ETF	%	Inflation Shock	Covid Pandemic	2018 Correction
Equity	XLE	80.0%	39.7%	-53.3%	-27.2%
Bond	BND	5.0%	-14.2%	-2.2%	1.3%
Gold	GLD	3.0%	-7.7%	-6.3%	5.0%
Commodity	DBC	2.2%	20.5%	-23.7%	-17.5%
Real Estate	VNQ	4.5%	-29.8%	-41.6%	-11.1%
Bitcoin	BTCUSD	5.2%	-56.0%	-33.5%	-37.4%
Cash	GOVT	0.0%	-12.4%	4.4%	1.6%
Aggressive Portfolio		100.0%	27.0%	-47.1%	-24.4%

The table shows the return of different asset classes during market crises - specifically during the period where the S&P fell and bottomed

Learn More →

Tailored Asset Allocation
[1] Personalized 5 Level Risk Tolerance Assessment
[2] Asset Allocation for My Risk Tolerance

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Protect Wealth
[1] Defensive Portfolios
[2] Tax-Efficient Strategies

Valuation & Yield

	Forward [4,5]	Now	Historical (CYE & TTM)
	9/30/27	9/2/26	2025	2024	2023	2022	2021
Share Price CYE		$64.77	$44.42	$41.18	$39.01	$39.26	$23.89
Dividend/Share TTM		$1.51	$2.56	$2.88	$2.98	$3.22	$2.34
Valuation [1]
P/S	—	2.07	1.85	1.84	1.48	1.55	1.35
P/E		18.06	17.00	15.41	10.92	8.14	13.77
P/E (Non-GAAP) [2]	14.55	14.76	16.75	14.65	12.19	14.30	16.45
P/FCF		17.29	17.78	17.13	14.26	9.35	10.07
Yields TTM
Earnings Yield	6.87%	5.54%	5.88%	6.49%	9.15%	12.29%	7.26%
Dividend Yield	2.33%	2.33%	5.75%	6.99%	7.63%	8.21%	9.78%
Total Yield (TY)	9.20%	7.86%	11.64%	13.47%	16.79%	20.49%	17.05%
Risk Premium [3]
Risk Free Rate (Rf)	4.75%	4.75%	4.18%	4.58%	3.88%	3.88%	1.52%
Risk Prem. (TY - Rf)	4.45%	3.11%	7.46%	8.89%	12.91%	16.61%	15.53%
Growth Rates [6]
Sales Growth	-5.5%	11.7%	-0.6%	-1.7%	-16.2%	46.1%
Earnings Growth [7]	-14.5%	39.9%	-4.8%	-27.6%	-28.7%	150.0%

[1] P/E uses the aggregate method over profitable constituents; P/FCF aggregates net free cash flow across all constituents (negative-FCF names reduce it); P/S uses all constituents. Ratios reflect current ETF holdings at current weights. P/FCF has no Forward column (no analyst FCF estimate).
[2] P/E (Non-GAAP) uses analyst consensus net income (adjusted basis) for all periods. The standard P/E row above uses GAAP net income.
[3] The premium above the risk free rate (US 10Y) offered by the investment. Negative premiums can indicate stretched valuations.
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Highlights

YIELD

XLE's earnings yield is 5.54%, based on its 18.1x trailing P/E. With a 2.33% dividend yield, XLE is yielding 7.86% in total.

RISK

Compared to US Treasuries at 4.75%, XLE's total yield implies a healthy 3.11% risk premium. Healthy risk premiums suggest reasonable valuations.

FORWARD EXPECTATIONS

Based on analyst estimates, XLE's forward total yield is 9.20%, implying a 4.45% risk premium assuming stable Treasury rates.

Top 20 Holdings for XLE

Total Weights
Top 5: 52.1% | Top 10: 73.5% | Top 20: 99.0%

Ticker	Holding	ETF Weight	Sales Weight	Earnings Weight	Fwd P/S	Fwd P/E	Fwd Sales Growth	Fwd Earnings Growth
Total		99.82%	100.00%	100.00%	1.6	14.7	-5.5%	-14.5%
Top 20		98.95%	99.17%	98.37%	1.6	14.7	-5.5%	-14.4%
XOM	ExxonMobil	20.10%	18.04%	16.85%	1.8	14.6	-5.2%	-6.9%
CVX	Chevron	14.89%	12.76%	12.96%	1.9	15.6	-9.1%	-19.5%
COP	ConocoPhillips	6.32%	4.14%	6.24%	2.5	14.5	-6.8%	-14.3%
MPC	Marathon Petroleum	5.42%	12.83%	7.36%	0.7	10.9	-8.5%	-40.7%
PSX	Phillips 66	5.39%	13.87%	6.65%	0.6	11.7	-7.5%	-20.3%
VLO	Valero Energy	5.06%	11.33%	6.03%	0.8	11.8	-13.5%	-36.9%
SLB	SLB	4.48%	3.28%	2.88%	2.2	18.1	+7.6%	+26.9%
EOG	EOG Resources	4.25%	2.48%	6.59%	2.9	10.2	-7.7%	-16.3%
WMB	Williams Companies	3.86%	0.87%	2.26%	6.8	27.1	+13.8%	+11.3%
TRGP	Targa Resources	3.76%	1.69%	2.36%	2.9	24.5	+20.7%	+4.8%
KMI	Kinder Morgan	3.73%	1.60%	3.18%	3.8	20.4	+2.0%	-0.7%
BKR	Baker Hughes	3.66%	2.74%	3.15%	2.1	21.1	+10.9%	+19.5%
OKE	ONEOK	3.56%	3.96%	3.79%	1.5	15.8	-5.7%	+8.9%
DVN	Devon Energy	3.21%	2.35%	4.03%	1.9	14.9	+9.9%	-6.2%
OXY	Occidental Petroleum	2.53%	1.54%	5.31%	2.5	14.1	-8.8%	-37.6%
FANG	Diamondback Energy	2.31%	1.17%	1.04%	3.3	11.4	-7.6%	-16.5%
EQT	EQT	2.04%	0.95%	2.79%	3.7	13.4	-1.0%	-2.7%
HAL	Halliburton	1.71%	2.14%	1.57%	1.3	13.7	+5.4%	+18.9%
EXE	Expand Energy	1.38%	1.35%	2.82%	1.8	10.9	-3.7%	+1.9%
TPL	Texas Pacific Land	1.27%	0.08%	0.48%	23.5	38.8	+12.1%	+11.0%

[1] Total and Top 20 rows are weighted aggregates across constituents.
[2] Forward P/S and P/E ratios use consensus sales and earnings for the 12 months ending 9/30/27. Individual constituent FY1 and FY2 consensus figures adjusted to align with 9/30/27.
[3] Forward Sales and Non-GAAP Earnings Growth are calculated as next fiscal year (FY2) consensus growth over current fiscal year (FY1) consensus. They are not derived from the forward P/S and P/E multiples shown.

Performance for XLE Top Holdings

Ticker	Holding	Weight	Mkt Price 9/1	1D Rtn	1M Rtn	YTD Rtn	1Y Rtn	3Y Rtn	5Y Rtn	10Y Rtn
XLE	State Street Energy Select Sector SPDR ETF	100.00%	64.77	1.3%	8.8%	45.8%	46.7%	56.0%	215.5%	179.5%
XOM	ExxonMobil	20.10%	164.55	2.2%	6.5%	39.5%	48.1%	60.0%	256.0%	189.9%
CVX	Chevron	14.89%	211.05	2.4%	8.2%	42.3%	36.6%	45.6%	163.9%	218.8%
COP	ConocoPhillips	6.32%	136.19	2.8%	13.8%	48.7%	41.9%	22.6%	192.5%	361.7%
MPC	Marathon Petroleum	5.42%	383.00	2.6%	21.4%	138.2%	116.7%	178.4%	639.4%	1,119.9%
PSX	Phillips 66	5.39%	252.02	2.2%	19.7%	99.4%	94.3%	137.5%	332.2%	364.2%
VLO	Valero Energy	5.06%	361.99	0.9%	15.7%	125.7%	143.2%	194.3%	548.1%	868.5%
SLB	SLB	4.48%	56.85	-5.4%	14.7%	49.8%	58.5%	2.1%	120.8%	-3.4%
EOG	EOG Resources	4.25%	148.35	2.3%	-0.2%	44.8%	23.0%	26.0%	174.8%	130.4%
WMB	Williams Companies	3.86%	75.23	0.2%	5.2%	27.0%	34.1%	144.1%	276.8%	340.5%
TRGP	Targa Resources	3.76%	296.06	0.8%	9.5%	62.8%	80.3%	260.9%	630.3%	917.8%
KMI	Kinder Morgan	3.73%	32.10	-0.4%	0.7%	20.1%	23.8%	116.6%	156.1%	143.8%
BKR	Baker Hughes	3.66%	63.66	0.2%	5.6%	41.3%	42.4%	84.2%	205.8%	208.6%
OKE	ONEOK	3.56%	95.69	-0.3%	6.6%	35.1%	32.1%	69.9%	135.3%	262.7%
DVN	Devon Energy	3.21%	49.05	1.1%	8.7%	35.6%	39.4%	2.6%	114.2%	59.3%
OXY	Occidental Petroleum	2.53%	60.95	1.3%	6.8%	49.6%	30.7%	-0.5%	145.5%	3.8%
FANG	Diamondback Energy	2.31%	203.16	1.3%	0.7%	37.5%	39.9%	46.6%	227.7%	177.1%
EQT	EQT	2.04%	55.59	2.6%	4.6%	4.6%	8.5%	31.1%	201.0%	56.6%
HAL	Halliburton	1.71%	36.63	-0.6%	13.6%	30.8%	64.9%	-1.5%	96.5%	2.1%
EXE	Expand Energy	1.38%	99.98	1.9%	7.0%	-7.8%	5.6%	20.5%	116.4%
TPL	Texas Pacific Land	1.27%	369.93	-1.0%	-8.0%	29.3%	19.8%	80.2%	166.7%	2,036.2%

Guidance Updates for XLE Top Holdings

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
XLE Return	53%	64%	-1%	6%	8%	44%	310%
Peers Return	29%	-15%	28%	20%	19%	18%	137%
S&P 500 Return	27%	-19%	24%	23%	16%	12%	105%
Monthly Win Rates [3]
XLE Win Rate	75%	67%	67%	42%	67%	62%
Peers Win Rate	70%	37%	58%	67%	63%	48%
S&P 500 Win Rate	75%	42%	67%	75%	67%	50%
Max Drawdowns [4]
XLE Max Drawdown	-18%	-26%	-17%	-14%	-19%	-16%
Peers Max Drawdown	-9%	-26%	-12%	-12%	-20%	-13%
S&P 500 Max Drawdown	-5%	-25%	-10%	-8%	-19%	-9%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: VGT, XLK, XLF, XLV, XLI.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/1/2026 (YTD)

Sharpe Ratios Compared

One measure of reward vs. risk is a Sharpe ratio. A higher ratio indicates better risk-adjusted returns. Most funds have Sharpe ratios < 1.0.

Ticker	1Y	3Y	5Y
XLE	1.62	0.61	0.88
Equity Top Results (3Y)
IALT	2.08	2.08	2.08
VLUE	2.53	1.42	0.74
SPMO	0.94	1.37	0.79
CORO	1.35	1.33	1.33
CGDV	1.28	1.31	0.94

Results as of 8312026.

Event	XLE	S&P 500
2025 US Tariff Shock
% Loss	-16.3%	-18.8%
% Gain to Breakeven	19.4%	23.1%
Time to Breakeven	169 days	79 days
2023 SVB Regional Banking Crisis
% Loss	-14.5%	-6.7%
% Gain to Breakeven	16.9%	7.1%
Time to Breakeven	145 days	31 days
2020 COVID-19 Crash
% Loss	-56.3%	-33.7%
% Gain to Breakeven	128.7%	50.9%
Time to Breakeven	352 days	140 days
Q4 2018 Fed Policy Error / Growth Scare
% Loss	-29.9%	-19.2%
% Gain to Breakeven	42.6%	23.8%
Time to Breakeven	1117 days	105 days
2015-2016 China Devaluation / Global Growth Scare
% Loss	-24.3%	-12.2%
% Gain to Breakeven	32.0%	13.9%
Time to Breakeven	98 days	62 days
2014-2016 Oil Price Collapse
% Loss	-45.4%	-6.8%
% Gain to Breakeven	83.0%	7.3%
Time to Breakeven	2233 days	15 days

Compare to VGT, XLK, XLF, XLV, XLI

In The Past

State Street Energy Select Sector SPDR ETF's stock fell -16.3% during the 2025 US Tariff Shock. Such a loss loss requires a 19.4% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

Event	XLE	S&P 500
2020 COVID-19 Crash
% Loss	-56.3%	-33.7%
% Gain to Breakeven	128.7%	50.9%
Time to Breakeven	352 days	140 days
Q4 2018 Fed Policy Error / Growth Scare
% Loss	-29.9%	-19.2%
% Gain to Breakeven	42.6%	23.8%
Time to Breakeven	1117 days	105 days
2015-2016 China Devaluation / Global Growth Scare
% Loss	-24.3%	-12.2%
% Gain to Breakeven	32.0%	13.9%
Time to Breakeven	98 days	62 days
2014-2016 Oil Price Collapse
% Loss	-45.4%	-6.8%
% Gain to Breakeven	83.0%	7.3%
Time to Breakeven	2233 days	15 days
2011 US Debt Ceiling Crisis & European Contagion
% Loss	-28.8%	-17.9%
% Gain to Breakeven	40.5%	21.8%
Time to Breakeven	484 days	123 days
2008-2009 Global Financial Crisis
% Loss	-52.0%	-53.4%
% Gain to Breakeven	108.4%	114.4%
Time to Breakeven	717 days	1085 days

Compare to VGT, XLK, XLF, XLV, XLI

In The Past

State Street Energy Select Sector SPDR ETF's stock fell -16.3% during the 2025 US Tariff Shock. Such a loss loss requires a 19.4% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

XLE Dip Buy History

XLE had 35 events since 1/1/2005 where the dip threshold of -5.0% within 60 days was triggered

20% median peak return within 1 year of dip event
214 days is the median time to peak return after a dip event
-12% median max drawdown within 1 year of dip event

60 Day Dip			XLE Subsequent Performance
Date	XLE	SPY	1Y	Peak Return	Max Drop	# Days to Peak
Median			9%	20%	-12%	214
6152026	-6%	15%			-5%	79
2212025	-6%	1%	27%	27%	-15%	371
12182024	-5%	3%	10%	14%	-8%	105
9262024	-5%	5%	8%	14%	-9%	57
6272024	-5%	6%	-3%	8%	-14%	148
11072023	-6%	-2%	15%	19%	-4%	150
2032023	-7%	9%	1%	11%	-10%	223
6222022	-6%	-17%	10%	30%	-8%	146
8022021	-6%	5%	64%	95%	-7%	310
8192020	-5%	13%	30%	58%	-24%	300
1312020	-9%	5%	-21%	3%	-55%	12
5232019	-6%	1%	-32%	6%	-59%	50
10192018	-6%	-2%	-15%	0%	-24%	0
8152018	-8%	4%	-18%	9%	-24%	55
3222018	-6%	-1%	1%	17%	-18%	60
8152017	-6%	4%	17%	28%	-2%	279
3072017	-5%	6%	-3%	13%	-12%	321
12112015	-7%	2%	31%	31%	-14%	367
7012015	-6%	1%	-5%	0%	-29%	13
9122014	-6%	2%	-31%	2%	-35%	4
11142012	-5%	-4%	30%	30%	0%	349
5032012	-5%	4%	18%	18%	-11%	369
8042011	-10%	-11%	4%	12%	-17%	204
5232011	-5%	0%	-10%	9%	-22%	60
5202010	-6%	-3%	46%	57%	-5%	344
2052010	-6%	-2%	39%	39%	-8%	361
9042009	-5%	8%	7%	23%	-1%	231
7152008	-5%	-12%	-39%	0%	-51%	6
3192008	-9%	-11%	-35%	28%	-45%	62
1152008	-5%	-10%	-37%	23%	-45%	126
3012007	-6%	1%	36%	44%	-2%	300
9202006	-5%	6%	50%	50%	0%	366
6132006	-6%	-6%	42%	42%	0%	366
12232005	-6%	4%	16%	21%	-3%	356
5132005	-7%	-4%	45%	56%	-0%	343

[1] Dip event defined as first instance dip threshold is triggered within a 60-day time period.
[2] Analysis for period from 1/1/2005 to 9/1/2026

XLE had 24 events since 1/1/2005 where the dip threshold of -10% within 90 days was triggered

24% median peak return within 1 year of dip event
289 days is the median time to peak return after a dip event
-7.3% median max drawdown within 1 year of dip event

90 Day Dip			XLE Subsequent Performance
Date	XLE	SPY	1Y	Peak Return	Max Drop	# Days to Peak
Median			20%	24%	-7%	289
5282025	-12%	-0%	47%	58%	-0%	303
4042025	-18%	-14%	49%	64%	-3%	357
9062024	-10%	6%	7%	14%	-9%	77
1162024	-10%	7%	19%	23%	-1%	311
5252023	-11%	5%	21%	28%	-3%	316
3152023	-12%	4%	23%	23%	-1%	183
9232022	-13%	-7%	32%	36%	-2%	356
7192021	-10%	10%	61%	103%	-2%	324
9082020	-10%	15%	49%	74%	-16%	280
2252020	-12%	5%	9%	9%	-51%	365
8052019	-10%	2%	-31%	9%	-57%	154
10242018	-11%	-4%	-7%	6%	-18%	14
8172017	-12%	4%	21%	31%	-0%	277
4212017	-10%	5%	13%	18%	-8%	276
12072015	-12%	-1%	25%	25%	-16%	364
7272015	-10%	-1%	1%	5%	-23%	99
10092014	-10%	1%	-16%	4%	-29%	43
5182012	-10%	1%	31%	33%	-3%	367
11212011	-13%	-9%	9%	16%	-7%	298
8042011	-12%	-8%	4%	12%	-17%	204
5202010	-13%	-6%	46%	57%	-5%	344
8182008	-11%	-5%	-28%	9%	-45%	3
2062008	-10%	-13%	-27%	34%	-40%	104
9112006	-10%	0%	39%	44%	-2%	311

[1] Dip event defined as first instance dip threshold is triggered within a 90-day time period.
[2] Analysis for period from 1/1/2005 to 9/1/2026

XLE had 6 events since 1/1/2005 where the dip threshold of -20% within 180 days was triggered

11% median peak return within 1 year of dip event
97.5 days is the median time to peak return after a dip event
-28% median max drawdown within 1 year of dip event

180 Day Dip			XLE Subsequent Performance
Date	XLE	SPY	1Y	Peak Return	Max Drop	# Days to Peak
Median			-2%	11%	-28%	98
2272020	-22%	4%	13%	18%	-47%	363
12142015	-21%	-2%	32%	32%	-14%	365
8052015	-21%	4%	3%	7%	-22%	90
3062015	-22%	7%	-16%	9%	-31%	54
1142015	-20%	9%	-22%	13%	-25%	105
9292008	-20%	-19%	-7%	6%	-36%	1

[1] Dip event defined as first instance dip threshold is triggered within a 180-day time period.
[2] Analysis for period from 1/1/2005 to 9/1/2026

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Current Dip Buy Opportunities Across ETFs

ETFs currently down 5% or more from trailing 6M peaks.

Ticker	Name	Dip %	Mkt Price	Price Date	Peak Price	Peak Date	# Days
QQQ	Invesco QQQ Trust, Series 1	-5.2%	707.64	9012026	746.16	6022026	91
QQQM	Invesco NASDAQ 100 ETF	-5.2%	291.40	9012026	307.23	6022026	91
IJH	iShares Core S&P Mid-Cap ETF	-5.2%	74.60	9012026	78.67	8162026	16
MDY	State Street SPDR S&P MIDCAP 400 ETF Trust	-5.2%	679.95	9012026	716.91	8162026	16
IVOO	Vanguard S&P Mid-Cap 400 ETF	-5.1%	126.25	9012026	133.08	8162026	16
SCHA	Schwab U.S. Small-Cap ETF	-6.6%	33.73	9012026	36.13	6302026	63
IWF	iShares Russell 1000 Growth ETF	-5.9%	121.21	9012026	128.77	6012026	92
VONG	Vanguard Russell 1000 Growth ETF	-5.7%	124.81	9012026	132.35	6012026	92
IWP	iShares Russell Mid-Cap Growth ETF	-6.6%	137.92	9012026	147.70	8172026	15
VOT	Vanguard Mid-Cap Growth ETF	-5.5%	296.66	9012026	314.02	8162026	16
IJK	iShares S&P Mid-Cap 400 Growth ETF	-6.2%	111.67	9012026	119.11	8172026	15
MDYG	State Street SPDR S&P 400 Mid Cap Growth ETF	-6.2%	106.63	9012026	113.69	8172026	15
IWO	iShares Russell 2000 Growth ETF	-6.1%	371.41	9012026	395.65	8162026	16
VBK	Vanguard Small-Cap Growth ETF	-5.9%	344.63	9012026	366.24	8172026	15
IJT	iShares S&P Small-Cap 600 Growth ETF	-6.4%	167.68	9012026	179.07	8042026	28
SLYG	State Street SPDR S&P 600 Small Cap Growth ETF	-6.3%	111.94	9012026	119.50	8042026	28
IEMG	iShares Core MSCI Emerging Markets ETF	-5.3%	81.43	9012026	86.00	6222026	71
EEM	iShares MSCI Emerging Markets ETF	-6.2%	66.77	9012026	71.21	6222026	71
ASHR	Xtrackers Harvest CSI 300 China A-Shares ETF	-8.3%	34.21	9012026	37.30	6222026	71
EWY	iShares MSCI South Korea ETF	-19.8%	175.80	9012026	219.20	6212026	72
EWZ	iShares MSCI Brazil ETF	-12.4%	36.57	9012026	41.73	4142026	140
FXI	iShares China Large-Cap ETF	-7.6%	35.34	9012026	38.26	5132026	111
ILF	iShares Latin America 40 ETF	-8.0%	35.06	9012026	38.10	4142026	140
KWEB	KraneShares CSI China Internet ETF	-17.1%	25.69	9012026	30.99	3102026	175
MTUM	iShares MSCI USA Momentum Factor ETF	-14.1%	296.52	9012026	345.22	6222026	71
SPHQ	Invesco S&P 500 Quality ETF	-6.2%	84.50	9012026	90.10	6302026	63
SPMO	Invesco S&P 500 Momentum ETF	-10.0%	145.54	9012026	161.66	6222026	71
URA	Global X Uranium ETF	-24.6%	43.94	9012026	58.26	5062026	118
BOTZ	Global X Funds Global X Robotics & Artificial Intelligence ETF	-15.6%	35.15	9012026	41.63	5132026	111
ROBO	ROBO Global Robotics & Automation Index ETF	-12.7%	78.87	9012026	90.34	6022026	91
LIT	Global X Lithium & Battery Tech ETF	-18.5%	74.71	9012026	91.62	5112026	113
ICLN	iShares Global Clean Energy ETF	-27.4%	17.24	9012026	23.75	6022026	91
ARKQ	ARK Autonomous Technology & Robotics ETF	-16.5%	120.15	9012026	143.82	5282026	96
ARKX	ARK Space & Defense Innovation ETF	-15.7%	31.83	9012026	37.74	5282026	96
NASA	Tema Space Innovators ETF	-45.9%	22.68	9012026	41.89	5272026	97
AGIX	KraneShares Artificial Intelligence ETF	-10.5%	44.20	9012026	49.40	6012026	92
DRSK	Aptus Defined Risk ETF	-5.1%	28.16	9012026	29.67	6012026	92
GDE	WisdomTree Efficient Gold Plus Equity Strategy Fund	-7.2%	66.17	9012026	71.30	8252026	7
VGT	Vanguard Information Technology ETF	-5.4%	118.87	9012026	125.62	6022026	91
XLK	State Street Technology Select Sector SPDR ETF	-7.4%	183.64	9012026	198.21	6022026	91
XLI	State Street Industrial Select Sector SPDR ETF	-7.4%	172.73	9012026	186.51	8162026	16
XLC	State Street Communication Services Select Sector SPDR ETF	-6.9%	110.88	9012026	119.10	4192026	135
XLY	State Street Consumer Discretionary Select Sector SPDR ETF	-6.1%	114.59	9012026	122.06	5282026	96
XLU	State Street Utilities Select Sector SPDR ETF	-9.7%	42.56	9012026	47.15	4092026	145
IYJ	iShares U.S. Industrials ETF	-6.6%	158.71	9012026	169.86	8042026	28
SMH	VanEck Semiconductor ETF	-18.5%	545.22	9012026	668.91	6222026	71
SOXX	iShares Semiconductor ETF	-23.6%	500.31	9012026	655.01	6222026	71
ITA	iShares U.S. Aerospace & Defense ETF	-11.0%	225.46	9012026	253.22	8162026	16
IYT	iShares U.S. Transportation ETF	-7.9%	82.93	9012026	90.01	7162026	47
KRE	State Street SPDR S&P Regional Banking ETF	-6.8%	72.62	9012026	77.93	8162026	16
MISL	First Trust Indxx Aerospace & Defense ETF	-13.7%	43.49	9012026	50.39	3042026	181
RING	iShares MSCI Global Gold Miners ETF	-10.8%	83.12	9012026	93.17	8252026	7
SOXQ	Invesco PHLX Semiconductor ETF	-22.8%	88.90	9012026	115.11	6222026	71
TLT	iShares 20+ Year Treasury Bond ETF	-6.7%	81.87	9012026	87.72	3032026	182
VGLT	Vanguard Long-Term Treasury ETF	-5.6%	52.56	9012026	55.69	3032026	182
SPTL	State Street SPDR Portfolio Long Term Treasury ETF	-6.0%	25.01	9012026	26.60	3032026	182
TLH	iShares 10-20 Year Treasury Bond ETF	-5.3%	96.23	9012026	101.62	3032026	182
EDV	Vanguard World Funds Extended Duration ETF	-9.7%	59.89	9012026	66.31	3032026	182
SPLB	State Street SPDR Portfolio Long Term Corporate Bond ETF	-5.2%	21.23	9012026	22.40	6292026	64
GSG	iShares GSCI Commodity	-5.8%	30.01	9012026	31.85	3182026	167
GLD	SPDR Gold Trust	-17.0%	396.75	9012026	477.86	3102026	175
IAU	iShares Gold Trust	-16.9%	81.35	9012026	97.85	3102026	175
GLDM	SPDR Gold MiniShares Trust	-16.8%	85.59	9012026	102.89	3102026	175
SGOL	ETFS Physical Swiss Gold Shares	-9.8%	44.66	9012026	49.53	3102026	175
BAR	Direxion Daily Gold Bull 3X Shares	-13.4%	44.34	9012026	51.20	3102026	175
SLV	iShares Silver Trust	-27.7%	57.92	9012026	80.09	3102026	175
PPLT	ETFS Physical Platinum Shares	-21.0%	15.80	9012026	20.00	3102026	175
CPER	United States Copper Index Fund ETV	-7.7%	33.33	9012026	36.12	3112026	174
PALL	ETFS Physical Palladium Shares	-22.7%	23.68	9012026	30.64	3092026	176
USO	United States Oil Fund LP	-7.8%	141.00	9012026	152.96	5192026	105
UNG	United States Natural Gas Fund LP	-18.9%	10.58	9012026	13.04	3122026	173
BNO	United States Brent Oil Fund LP ETV	-7.1%	55.85	9012026	60.13	5042026	120
SCHH	Schwab U.S. REIT ETF	-5.1%	23.58	9012026	24.86	7262026	37
REET	iShares Global REIT ETF	-5.1%	27.43	9012026	28.89	7262026	37
USRT	iShares Core U.S. REIT ETF	-6.0%	65.60	9012026	69.82	7262026	37
IBIT	iShares Bitcoin Trust ETF	-5.8%	43.76	9012026	46.47	5112026	113
FBTC	Fidelity Wise Origin Bitcoin Fund	-5.8%	67.18	9012026	71.35	5112026	113

ETF Fund Flows

Largest fund inflows and outflows across ETFs, with the asset-allocation rotation they imply.

Net fund flows · as of 2026-09-01

Asset allocation rotation · Past week

Equity ETFs drew the largest net inflows (+$4.9B), followed by Bond (+$3.1B), while Real Estate (−$124M) saw the largest outflows.
Within the mix, money rotated into Short Treasury (+$7.0B) and out of Intermediate Treasury (−$6.2B).
Relative to fund size, MGNR drew the largest inflow (+26.6% of AUM) and XOVR the largest outflow (−12.6%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	VGSH	Vanguard Short-Term Treasury ETF	Bond Short Treasury	+$3.86B	+11.2%
2	VOO	Vanguard S&P 500 ETF	Equity US Large Cap Core	+$2.76B	+0.3%
3	QQQ	Invesco QQQ Trust, Series 1	Equity US Nasdaq Growth	+$1.88B	+0.4%
4	VTI	Vanguard Morningstar Total Stock Market ETF	Equity US Total Market	+$1.47B	+0.2%
5	SCHO	Schwab Short-Term U.S. Treasury ETF	Bond Short Treasury	+$1.46B	+9.7%
6	SGOV	iShares 0-3 Month Treasury Bond ETF	Cash	+$1.4B	+1.3%
7	SPTS	State Street SPDR Portfolio Short Term Treasury ETF	Bond Short Treasury	+$983M	+13.5%
8	SCHD	Schwab U.S. Dividend Equity ETF	Equity Dividend Income	+$895M	+0.8%
9	IEFA	iShares Core MSCI EAFE ETF	Equity International Developed Broad	+$866M	+0.4%
10	RSP	Invesco S&P 500 Equal Weight ETF	Equity Factor Smart Beta	+$762M	+0.8%

#	Ticker	Name	Type	Net flow	% of AUM
1	MGNR	American Beacon GLG Natural Resources ETF	Other	+$344M	+26.6%
2	ALAI	Alger AI Enablers & Adopters ETF	Other	+$234M	+21.4%
3	CNEQ	Alger Concentrated Equity ETF	Other	+$446M	+18.5%
4	FTLS	First Trust Long/Short Equity ETF	Equity Asset Allocation	+$408M	+16.1%
5	BKGI	BNY Mellon Global Infrastructure Income ETF	Other	+$224M	+14.2%
6	SPTS	State Street SPDR Portfolio Short Term Treasury ETF	Bond Short Treasury	+$983M	+13.5%
7	VGSH	Vanguard Short-Term Treasury ETF	Bond Short Treasury	+$3.86B	+11.2%
8	DBA	Invesco DB Agriculture Fund	Other	+$142M	+10.2%
9	SCHO	Schwab Short-Term U.S. Treasury ETF	Bond Short Treasury	+$1.46B	+9.7%
10	TBLL	Invesco Short Term Treasury ETF	Other	+$261M	+9.2%

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	IVV	iShares Core S&P 500 ETF	Equity US Large Cap Core	-$3.93B	-0.4%
2	VGIT	Vanguard Intermediate-Term Treasury ETF	Bond Intermediate Treasury	-$3.3B	-8.2%
3	GOVT	iShares U.S. Treasury Bond ETF	Bond Intermediate Treasury	-$2.5B	-6.0%
4	SPYM	State Street SPDR Portfolio S&P 500 ETF	Equity US Large Cap Core	-$1.93B	-1.1%
5	LQD	iShares iBoxx $ Investment Grade Corporate Bond ETF	Bond Intermediate Corporate	-$1.51B	-4.7%
6	XLF	State Street Financial Select Sector SPDR ETF	Equity Broad Sector	-$1.03B	-1.9%
7	DRAM	Roundhill Memory ETF	Other	-$863M	-3.3%
8	HYG	iShares iBoxx $ High Yield Corporate Bond ETF	Bond High Yield Corporate	-$757M	-4.7%
9	ITOT	iShares Core S&P Total U.S. Stock Market ETF	Equity US Total Market	-$690M	-0.7%
10	SMH	VanEck Semiconductor ETF	Equity Industry Subsector	-$676M	-1.0%

#	Ticker	Name	Type	Net flow	% of AUM
1	XOVR	ERShares Private-Public Crossover ETF	Equity Thematic	-$223M	-12.6%
2	TAN	Invesco Solar ETF	Other	-$125M	-11.6%
3	VGIT	Vanguard Intermediate-Term Treasury ETF	Bond Intermediate Treasury	-$3.3B	-8.2%
4	ITB	iShares U.S. Home Construction ETF	Other	-$195M	-8.1%
5	ETHU	2x Ether ETF	Other	-$77M	-6.8%
6	GOVT	iShares U.S. Treasury Bond ETF	Bond Intermediate Treasury	-$2.5B	-6.0%
7	EWH	iShares MSCI Hong Kong ETF	Other	-$73M	-6.0%
8	AIA	iShares Asia 50 ETF	Other	-$278M	-5.4%
9	XNTK	State Street SPDR NYSE Technology ETF	Other	-$100M	-5.3%
10	KBE	State Street SPDR S&P Bank ETF	Other	-$79M	-4.8%

Asset allocation rotation · Past month

Equity ETFs drew the largest net inflows (+$45.4B), followed by Bond (+$20.8B), while Real Estate (−$162M) saw the largest outflows.
Within the mix, money rotated into US Nasdaq Growth (+$15.3B) and out of Intermediate Treasury (−$8.7B).
Relative to fund size, CNEQ drew the largest inflow (+96.5% of AUM) and TAN the largest outflow (−20.2%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	VOO	Vanguard S&P 500 ETF	Equity US Large Cap Core	+$24.31B	+2.3%
2	QQQ	Invesco QQQ Trust, Series 1	Equity US Nasdaq Growth	+$12.08B	+2.5%
3	SGOV	iShares 0-3 Month Treasury Bond ETF	Cash	+$7.92B	+7.6%
4	GLD	SPDR Gold Shares	Commodity Gold	+$5.56B	+3.8%
5	VTI	Vanguard Morningstar Total Stock Market ETF	Equity US Total Market	+$5.37B	+0.8%
6	TLT	iShares 20+ Year Treasury Bond ETF	Bond Long Treasury	+$5.28B	+11.5%
7	VGSH	Vanguard Short-Term Treasury ETF	Bond Short Treasury	+$4.58B	+15.0%
8	SCHD	Schwab U.S. Dividend Equity ETF	Equity Dividend Income	+$3.74B	+3.4%
9	AVLV	Avantis U.S. Large Cap Value ETF	Other	+$3.4B	+17.9%
10	QQQM	Invesco NASDAQ 100 ETF	Equity US Nasdaq Growth	+$3.22B	+3.1%

#	Ticker	Name	Type	Net flow	% of AUM
1	CNEQ	Alger Concentrated Equity ETF	Other	+$1.51B	+96.5%
2	USMC	Principal U.S. Mega-Cap ETF	Other	+$1.42B	+32.2%
3	FINA	Fidelity MSCI North American Subset Index ETF	Other	+$452M	+30.9%
4	BFLX	iShares Flexible Equity Active ETF	Other	+$461M	+27.2%
5	ACYN	FT Vest Laddered Autocallable Barrier & Income ETF	Other	+$422M	+26.4%
6	ZROZ	PIMCO 25+ Year Zero Coupon U.S. Treasury Index Exchange-Traded Fund	Other	+$308M	+23.0%
7	ETHA	iShares Ethereum Trust ETF	Crypto	+$1.31B	+22.6%
8	BKGI	BNY Mellon Global Infrastructure Income ETF	Other	+$304M	+22.6%
9	FLTW	Franklin FTSE Taiwan ETF	Other	+$736M	+20.8%
10	SPTS	State Street SPDR Portfolio Short Term Treasury ETF	Bond Short Treasury	+$1.22B	+20.0%

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	IVV	iShares Core S&P 500 ETF	Equity US Large Cap Core	-$13.5B	-1.5%
2	IEF	iShares 7-10 Year Treasury Bond ETF	Bond Intermediate Treasury	-$4.83B	-11.2%
3	XLF	State Street Financial Select Sector SPDR ETF	Equity Broad Sector	-$4.47B	-7.9%
4	SPY	State Street SPDR S&P 500 ETF	Equity US Large Cap Core	-$3.41B	-0.4%
5	SOXX	iShares Semiconductor ETF	Equity Industry Subsector	-$3.34B	-7.8%
6	VGIT	Vanguard Intermediate-Term Treasury ETF	Bond Intermediate Treasury	-$2.46B	-5.8%
7	SMH	VanEck Semiconductor ETF	Equity Industry Subsector	-$1.82B	-2.6%
8	GOVT	iShares U.S. Treasury Bond ETF	Bond Intermediate Treasury	-$1.78B	-4.1%
9	HYG	iShares iBoxx $ High Yield Corporate Bond ETF	Bond High Yield Corporate	-$1.44B	-8.1%
10	XLK	State Street Technology Select Sector SPDR ETF	Equity Broad Sector	-$1.28B	-1.1%

#	Ticker	Name	Type	Net flow	% of AUM
1	TAN	Invesco Solar ETF	Other	-$264M	-20.2%
2	XOVR	ERShares Private-Public Crossover ETF	Equity Thematic	-$298M	-16.0%
3	USO	United States Oil Fund, LP	Commodity Energy	-$283M	-15.0%
4	XNTK	State Street SPDR NYSE Technology ETF	Other	-$315M	-14.6%
5	SNXX	Tradr 2X Long SNDK Daily ETF	Other	-$213M	-11.7%
6	IEF	iShares 7-10 Year Treasury Bond ETF	Bond Intermediate Treasury	-$4.83B	-11.2%
7	EWZ	iShares MSCI Brazil ETF	Equity Emerging Markets	-$891M	-10.9%
8	IBTG	iShares iBonds Dec 2026 Term Treasury ETF	Other	-$197M	-9.4%
9	AIQ	Global X - Artificial Intelligence & Technology ETF	Other	-$942M	-9.3%
10	CLIP	Global X - 1-3 Month T-Bill ETF	Cash	-$220M	-9.2%

Asset allocation rotation · Past 3 months

Equity ETFs drew the largest net inflows (+$156.1B), followed by Bond (+$62.8B), while Crypto (−$758M) saw the largest outflows.
Within the mix, money rotated into US Large Cap Core (+$30.4B) and out of Intermediate Treasury (−$4.5B).
Relative to fund size, BFLX drew the largest inflow (+132.3% of AUM) and VLUE the largest outflow (−47.8%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	SPYM	State Street SPDR Portfolio S&P 500 ETF	Equity US Large Cap Core	+$17.91B	+11.2%
2	SGOV	iShares 0-3 Month Treasury Bond ETF	Cash	+$16.26B	+16.4%
3	DRAM	Roundhill Memory ETF	Other	+$15.42B	+64.1%
4	VTI	Vanguard Morningstar Total Stock Market ETF	Equity US Total Market	+$15.17B	+2.3%
5	SPY	State Street SPDR S&P 500 ETF	Equity US Large Cap Core	+$14.23B	+1.8%
6	QQQ	Invesco QQQ Trust, Series 1	Equity US Nasdaq Growth	+$11.99B	+2.5%
7	IVV	iShares Core S&P 500 ETF	Equity US Large Cap Core	+$10.97B	+1.2%
8	QQQM	Invesco NASDAQ 100 ETF	Equity US Nasdaq Growth	+$10.21B	+10.2%
9	SCHD	Schwab U.S. Dividend Equity ETF	Equity Dividend Income	+$10.06B	+10.0%
10	SOXX	iShares Semiconductor ETF	Equity Industry Subsector	+$9.79B	+22.5%

#	Ticker	Name	Type	Net flow	% of AUM
1	BFLX	iShares Flexible Equity Active ETF	Other	+$2.07B	+132.3%
2	ACYN	FT Vest Laddered Autocallable Barrier & Income ETF	Other	+$1.19B	+98.0%
3	DRAM	Roundhill Memory ETF	Other	+$15.42B	+64.1%
4	FINA	Fidelity MSCI North American Subset Index ETF	Other	+$792M	+59.0% ⚠
5	SNXX	Tradr 2X Long SNDK Daily ETF	Other	+$1.4B	+58.7% ⚠
6	FLKR	Franklin FTSE South Korea ETF	Other	+$743M	+56.7%
7	ARKQ	ARK Autonomous Technology & Robotics ETF	Equity Thematic	+$1.13B	+55.4% ⚠
8	FTLS	First Trust Long/Short Equity ETF	Equity Asset Allocation	+$1.28B	+52.1%
9	CBOX		Other	+$570M	+47.4%
10	AVLV	Avantis U.S. Large Cap Value ETF	Other	+$8.05B	+46.5%

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	VOO	Vanguard S&P 500 ETF	Equity US Large Cap Core	-$12.69B	-1.3%
2	IEF	iShares 7-10 Year Treasury Bond ETF	Bond Intermediate Treasury	-$5.09B	-10.8%
3	VLUE	iShares MSCI USA Value Factor ETF	Equity Factor Smart Beta	-$4.67B	-47.8%
4	IGV	iShares Expanded Tech-Software Sector ETF	Equity Industry Subsector	-$3.32B	-23.8%
5	IWM	iShares Russell 2000 ETF	Equity US Small Cap Core	-$2.86B	-3.5%
6	IQMM	ProShares - GENIUS Money Market ETF	Other	-$2.37B	-12.3%
7	IAU	iShares Gold Trust	Commodity Gold	-$2.3B	-3.7%
8	EWZ	iShares MSCI Brazil ETF	Equity Emerging Markets	-$1.94B	-21.5%
9	VO	Vanguard Morningstar Mid-Cap ETF	Equity US Mid Cap Core	-$1.87B	-1.7%
10	SCZ	iShares MSCI EAFE Small-Cap ETF	Equity International Small Cap	-$1.63B	-12.1%

#	Ticker	Name	Type	Net flow	% of AUM
1	VLUE	iShares MSCI USA Value Factor ETF	Equity Factor Smart Beta	-$4.67B	-47.8%
2	FTXL	First Trust Nasdaq Semiconductor ETF	Other	-$978M	-42.6%
3	NASA	Tema Space Innovators ETF	Equity Thematic	-$433M	-35.2%
4	TAN	Invesco Solar ETF	Other	-$493M	-31.9%
5	FXI	iShares China Large-Cap ETF	Equity Emerging Markets	-$1.27B	-29.3%
6	IGV	iShares Expanded Tech-Software Sector ETF	Equity Industry Subsector	-$3.32B	-23.8%
7	PSI	Invesco Semiconductors ETF	Other	-$563M	-21.8%
8	LCTU	iShares U.S. Carbon Transition Readiness Aware Active ETF	Other	-$274M	-21.8%
9	XOVR	ERShares Private-Public Crossover ETF	Equity Thematic	-$415M	-21.7%
10	EWZ	iShares MSCI Brazil ETF	Equity Emerging Markets	-$1.94B	-21.5%

Largest ETF fund flows across ~2625 funds (min AUM $100M). Net creations/redemptions; leveraged & inverse ETFs excluded. A ⚠ marks a day excluded as a suspected data error.

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About XLE

Holdings Count: 21
Expense Ratio: 0.08%
Inception Date: 1998-12-16

State Street Energy Select Sector SPDR ETF
The State Street Energy Select Sector SPDR ETF (XLE) is engineered to mirror the overall return (both price appreciation and dividend income) of the Energy Select Sector Index, prior to any operational costs. This underlying index is specifically constructed to accurately reflect the performance of the energy companies within the S&P 500. The ETF grants investors precise access to businesses engaged in core energy industries, including oil, natural gas, other consumable fuels, and the associated equipment and services sectors. This focused targeting allows market participants to establish either long-term strategic allocations or short-term tactical positions within the energy space, offering a more refined exposure than conventional, broad-based investment styles.
Asset Class: Equity | ETF Website

	Title	Date
0	DASHBOARDS
1	Your Fund May Carry An Unearned Price	07/09/2026

	Title
0	ARTICLES

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
FRVO	Fervo Energy	3.1	28.4%	-45.9%
CRK	Comstock Resources	4.7	11.0%	-30.9%
MMED	Minimed	6.3	10.7%	21.3%
MRNA	Moderna	61.4	9.9%	423.1%
CTMX	CytomX Therapeutics	0.8	9.2%	-13.8%
EIX	Edison International	22.6	8.9%	1.8%
CBIO	Crescent Biopharma	0.5	8.0%	51.2%
NVAX	Novavax	1.7	8.0%	50.6%
CLYM	Climb Bio	1.1	7.9%	270.5%
CNXC	Concentrix	2.0	7.2%	-19.2%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
ALMS	Alumis	1.2	-56.6%	-3.0%
ADBT	Advasa	1.8	-18.9%	-41.2%
ENOV	Enovis	1.2	-16.5%	-22.9%
RPD	Rapid7	0.8	-10.8%	-21.0%
OSW	OneSpaWorld	2.3	-10.4%	7.9%
PS	Pershing Square	15.4	-10.3%	59.7%
SPIR	Spire Global	0.5	-9.4%	60.3%
IE	Ivanhoe Electric	1.6	-9.3%	-37.2%
BW	Babcock & Wilcox Enterprises	1.0	-9.3%	7.9%
SN	SharkNinja	24.7	-9.1%	56.3%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
ANF	Abercrombie & Fitch	6.3	29.2%	11.8%
OKTA	Okta	29.3	27.4%	92.5%
CRM	Salesforce	224.0	25.5%	-2.1%
CAPR	Capricor Therapeutics	0.6	20.7%	-65.3%
CNXC	Concentrix	2.0	20.1%	-19.2%
FRVO	Fervo Energy	3.1	20.1%	-45.9%
STDN	Standard Nuclear	2.7	18.8%	34.6%
MMED	Minimed	6.3	18.5%	21.3%
KVYO	Klaviyo	6.1	17.3%	-36.4%
CRWD	CrowdStrike	218.3	16.0%	83.5%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
ALMS	Alumis	1.2	-60.5%	-3.0%
ADBT	Advasa	1.8	-41.2%	-41.2%
LPTH	LightPath Technologies	0.6	-31.3%	-12.3%
PCG	PG&E	31.0	-23.4%	-12.0%
FRMI	Fermi	3.0	-23.0%	-42.1%
GENB	Generate Biomedicines	2.0	-22.5%	24.8%
TRON	Tron	0.8	-22.3%	32.3%
EIX	Edison International	22.6	-21.4%	1.8%
NXTT	Next Technology	0.8	-20.6%	-11.8%
AEHR	Aehr Test Systems	2.4	-19.9%	279.3%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
NXTT	Next Technology	0.8	539.4%	-11.8%
MRNA	Moderna	61.4	179.8%	423.1%
CAPR	Capricor Therapeutics	0.6	138.3%	-65.3%
QMCO	Quantum	0.5	128.9%	274.7%
OABI	OmniAb	0.6	126.5%	140.0%
STDN	Standard Nuclear	2.7	115.6%	34.6%
ABCL	AbCellera Biologics	3.4	93.5%	229.8%
IOVA	Iovance Biotherapeutics	3.7	91.9%	203.3%
HTFL	HeartFlow	4.4	88.5%	73.0%
TEAM	Atlassian	47.3	80.3%	15.4%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
ALMS	Alumis	1.2	-63.7%	-3.0%
IESC	IES	12.0	-51.0%	-22.7%
UTI	Universal Technical Institute	1.1	-49.5%	-20.2%
AHCO	AdaptHealth	0.8	-49.1%	-44.7%
REZI	Resideo Technologies	2.9	-46.9%	-45.2%
PLTK	Playtika	0.8	-45.8%	-44.3%
LINC	Lincoln Educational Services	0.8	-43.7%	0.6%
CDNL	Cardinal Infrastructure	0.6	-42.9%	48.9%
LASR	nLight	2.3	-42.5%	7.5%
LCID	Lucid	1.7	-40.9%	-57.0%

Peer Comparisons

Peers to compare with:

Profile

	XLE	VGT	XLK	XLF	XLV	XLI	Median
Name	State Stre.	Vanguard I.	State Stre.	State Stre.	State Stre.	State Stre.
Asset Class	Equity	Equity	Equity	Equity	Equity	Equity	-
AUM ($ Bil)	40.5	160.2	123.1	55.3	44.1	32.9	49.7
Expense Ratio	0.08%	0.09%	0.08%	0.08%	0.08%	0.08%	0.08%
10-D Avg Volume (Mil)	32.93	4.63	10.84	33.53	9.94	7.41	10.39
Latest Day Volume (Mil)	7.08	0.98	2.20	5.18	1.92	1.77	2.06
Holdings Count	21	310	73	76	60	83	74
Inception Date	12/16/1998	1/26/2004	12/16/1998	12/16/1998	12/16/1998	12/16/1998	-

Fundamentals

	XLE	VGT	XLK	XLF	XLV	XLI	Median
Name	State Stre.	Vanguard I.	State Stre.	State Stre.	State Stre.	State Stre.
Net Asset Value	62.27	120.08	188.71	57.90	171.63	178.85	-
Premium/Discount	4.0%	-1.0%	-2.7%	-1.2%	0.0%	-3.4%	-1.1%
Distribution Yield	2.3%	0.4%	0.4%	1.4%	1.5%	1.2%	1.3%
Sales Yield	58.7%	63.7%	98.3%	29.5%	59.6%	33.6%	59.1%
Earnings Yield	5.7%	8.6%	12.6%	6.3%	3.0%	3.6%	6.0%

Valuation

	XLE	VGT	XLK	XLF	XLV	XLI	Median
Name	State Stre.	Vanguard I.	State Stre.	State Stre.	State Stre.	State Stre.
P/S (TTM)	1.7x	1.6x	1.0x	3.4x	1.7x	3.0x	1.7x
P/E (TTM)	17.5x	11.6x	7.9x	15.8x	32.9x	27.8x	16.7x
P/FCF (TTM)	17.0x	5.7x	3.4x	33.2x	22.9x	27.4x	19.9x
Forward P/E	14.7x	4.6x	2.9x	14.8x	18.3x	23.0x	14.7x
Forward P/S	1.6x	1.2x	0.8x	3.3x	1.6x	2.7x	1.6x

Risk

	XLE	VGT	XLK	XLF	XLV	XLI	Median
Name	State Stre.	Vanguard I.	State Stre.	State Stre.	State Stre.	State Stre.
Volatility (1Y)	21.8%	24.8%	26.2%	14.6%	16.0%	17.1%	19.5%
Volatility (3Y)	21.8%	24.6%	25.1%	16.1%	14.7%	16.7%	19.3%
Volatility (5Y)	25.7%	25.9%	25.9%	18.4%	15.1%	17.6%	22.0%
Beta (1Y)	-0.30	1.69	1.74	0.61	0.29	0.95	0.78
Beta (3Y)	0.46	1.49	1.49	0.78	0.46	0.91	0.85
Beta (5Y)	0.58	1.41	1.39	0.86	0.54	0.88	0.87
Sharpe Ratio (1Y)	1.87	1.40	1.43	0.55	1.55	0.89	1.41
Sharpe Ratio (3Y)	0.84	1.23	1.18	1.25	0.75	1.13	1.15
Sharpe Ratio (5Y)	1.03	0.78	0.81	0.62	0.49	0.75	0.76
Max Drawdown (1Y)	-15.6%	-16.4%	-16.0%	-14.8%	-10.5%	-12.2%	-15.2%
Max Drawdown (3Y)	-20.1%	-27.2%	-25.7%	-15.5%	-17.1%	-18.5%	-19.3%
Max Drawdown (5Y)	-26.0%	-35.1%	-33.6%	-25.8%	-17.1%	-21.6%	-25.9%

Returns

	XLE	VGT	XLK	XLF	XLV	XLI	Median
Name	State Stre.	Vanguard I.	State Stre.	State Stre.	State Stre.	State Stre.
1M Return	10.2%	3.2%	3.1%	-0.3%	5.8%	-5.7%	3.2%
3M Return	11.7%	-5.4%	-7.4%	11.2%	17.3%	-0.8%	5.2%
6M Return	15.3%	31.7%	33.7%	12.3%	10.0%	-1.3%	13.8%
YTD Return	45.8%	26.4%	27.7%	5.0%	11.4%	11.7%	19.1%
1Y Return	46.7%	37.0%	40.5%	7.2%	26.5%	14.8%	31.8%
2Y Return	51.6%	66.3%	66.9%	31.2%	13.7%	37.0%	44.3%
3Y Return	61.6%	126.5%	121.8%	75.8%	34.7%	68.9%	72.4%

Short Interest

Short Interest: As Of Date	8142026
Short Interest: Shares Quantity	66.2 Mil
Short Interest: % Change Since 7312026	9.1%
Average Daily Volume	26.5 Mil
Days-to-Cover Short Interest	2.5 days

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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State Street Energy Select Sector SPDR ETF (XLE)

Market Price (9/2/2026): $65.169

State Street Energy Select Sector SPDR ETF (XLE)

Market Price (9/2/2026): $65.169

Key Takeaways

Price Chart

Asset Allocation with XLE

Valuation & Yield

Top 20 Holdings for XLE

Performance for XLE Top Holdings

Guidance Updates for XLE Top Holdings

Return vs. Risk

Price Returns Compared

Sharpe Ratios Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

In The Past

Preserve Wealth

Asset Allocation

XLE Dip Buy History

Current Dip Buy Opportunities Across ETFs

ETF Fund Flows

Asset allocation rotation · Past week

Asset allocation rotation · Past month

Asset allocation rotation · Past 3 months

Set Alerts and Notifications

Stay Informed

Trade & Investment Ideas

Wealth

Alert Me Periodically

Inform Me Once

About XLE

Latest Trefis Analyses

Recent Active Movers

Top Gainers

Top Losers

Top Gainers

Top Losers

Top Gainers

Top Losers

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