Share-split context: A forward split was recorded on Dec 5, 2025 with coefficient 2. A forward split turns each old share into multiple new shares and lowers the quoted price per share proportionally. Proportional ownership is unchanged at the split moment, so the split itself creates neither a gain nor a loss. The price-return figures in this report are already split-adjusted.

What this ETF is trying to do

The STATE STREET(R) ENERGY SELECT SECTOR SPDR(R) ETF (ticker: XLE) is designed to track the energy sector. This means it invests in companies involved in oil, gas, and other energy services.

Based on the Top Holdings provided, the fund has significant exposure to large energy companies. The largest holdings include:

• ExxonMobil Holdings Corp (24.03%)

• Chevron Corp (18.05%)

• ConocoPhillips (6.73%)

• Valero Energy Corp (4.73%)

• Marathon Petroleum Corp (4.70%)

• Phillips 66 (4.64%)

• Williams Companies Inc (4.29%)

• SLB Ltd (3.86%)

• EOG Resources Inc (3.85%)

• Kinder Morgan Inc Class P (3.15%)

What the numbers show

The data shows that XLE has seen growth in both its share price and its total return over several timeframes.

It is important to know the difference between these two: price return only tracks how much the share price moves, while total return includes those price changes plus any cash distributions (dividends) paid out.

• Year-to-Date (YTD): The price return was approximately 41.71%, and the total return was approximately 44.52%.

• One-Year: The price return was approximately 41.60%, while the total return was approximately 45.62%.

• Three-Year: The price return was approximately 47.81%, and the total return was approximately 62.42%.

The ETF also had a forward split on December 5, 2025. In a forward split, each old share becomes multiple new shares (in this case, two). This causes the price per share to fall proportionally, but it does not change the total value of what you own or create a gain or loss.

Income and distribution explanation

XLE provides cash distributions to investors. The distribution yield is approximately 2.40%. These payments are usually made quarterly, with four payments recorded in the last 12 months. The trailing distributions were approximately $1.52 per share.

While these distributions provide cash income, a high yield alone does not guarantee that an investment will keep its value.

NAV erosion explanation

The supplied data is sufficient to evaluate price erosion, but it does not include enough historical NAV-per-share data to confirm or rule out NAV erosion.

Regarding price-based evidence, the ETF has an erosion-risk score of 100, which is labeled as "No price erosion detected." There is no severe erosion-risk flag for this ETF.

Pros

• Strong Returns: The fund has shown positive price returns and total returns over one, three, and five-year periods.

• Income Rating: The fund has an income rating grade of "A" with a score of 85.

Cons

• Concentration: A large portion of the fund is held by just two companies (ExxonMobil and Chevron), which make up over 42% of the top holdings.

Beginner takeaway

XLE focuses on the energy sector and has recently shown significant growth in both share price and total return. When looking at this ETF, remember that the "total return" is a more complete picture of performance because it includes the cash distributions paid out to shareholders.