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Energy Select Sector SPDR (XLE)Overvalued or undervalued?
Look-through valuation · Sector · Expense ratio 0.09 % · ISIN US81369Y5069
Price history (since 1998)
Monthly close since 1998. Price shows performance, the valuation verdict is in the look-through above.
Top holdings
| Holding | Weight | vs fair value | Quality |
|---|---|---|---|
| Exxon Mobil Corp XOM | 23.2 % | −44.4 % | 56 |
| Chevron Corp CVX | 17.7 % | −55.9 % | 55 |
| ConocoPhillips COP | 6.7 % | −29.6 % | 58 |
| Phillips 66 PSX | 4.6 % | −65.9 % | 63 |
| Marathon Petroleum Corp MPC | 4.6 % | −60.9 % | 61 |
| Valero Energy Corporation VLO | 4.6 % | −66.1 % | 66 |
| Williams Companies Inc WMB | 4.4 % | −83.5 % | 51 |
| Schlumberger NV SLB | 4.1 % | −44.7 % | 52 |
| EOG Resources Inc EOG | 3.9 % | +16.3 % | 63 |
| Kinder Morgan Inc KMI | 3.2 % | −10.0 % | 58 |
| Targa Resources Inc TRGP | 3.2 % | −71.9 % | 59 |
| Baker Hughes Co BKR | 3.0 % | −44.2 % | 59 |
| Devon Energy Corporation DVN | 2.7 % | +10.0 % | 54 |
| Occidental Petroleum Corporation OXY | 2.2 % | −41.9 % | 48 |
| Diamondback Energy Inc FANG | 2.0 % | +11.1 % | 31 |
| EQT Corporation EQT | 1.7 % | −6.5 % | 46 |
| Halliburton Company HAL | 1.4 % | −34.9 % | 57 |
| Texas Pacific Land Corporation TPL | 1.1 % | −5.2 % | 72 |
| Chesapeake Energy Corporation CHK | 1.1 % | n/a | n/a |
| APA Corporation APA | 0.8 % | +30.0 % | 49 |
Fair value and quality per position come from the same valuation as our stock pages. Showing the 20 largest of 20 disclosed positions. "n/a" means the position is not (yet) in our stock universe and does not enter the average.
The 10 most cheaply valued ETFs
Measured against the look-through fair value of the holdings (sufficiently covered funds only). Green means below fair value, red above. Not financial advice.
- 1 CHIU Global X MSCI China Utilities ETF +87.2 % below FV
- 2 FXI iShares China Large-Cap ETF +57.2 % below FV
- 3 FCFY First Trust S&P 500 Diversified Free Cash Flow ETF +43.7 % below FV
- 4 MCHI iShares MSCI China ETF +41.9 % below FV
- 5 ITB iShares U.S. Home Construction ETF +31.4 % below FV
- 6 TAN Invesco Solar ETF +26.0 % below FV
- 7 C003 Amundi Index Solutions - Amundi DivDAX I UCITS ETF EUR Distributing +19.4 % below FV
- 8 FDNI First Trust Dow Jones International Internet ETF +19.3 % below FV
- 9 ESPO VanEck Video Gaming and eSports ETF +18.3 % below FV
- 10 XIDV Franklin International Dividend Booster Index ETF +17.9 % below FV
Frequently asked about XLE
Is XLE overvalued?
What is the fair value of XLE?
How do you calculate the fair value of an ETF?
Which stocks drive the valuation of XLE?
What is the expense ratio of XLE?
How we value this ETF
An ETF has no fair value of its own like a single stock. We build it bottom up: every holding has a fair value and a quality score on our pages. Weighted by portfolio share, that gives Energy Select Sector SPDR® Fund an average of how cheap or expensive its companies currently sit versus fair value, and how high their average quality is.
As of: Sep 25, 2026
The look-through is a computed summary of public fundamentals and is no substitute for your own research.