What is XOP and what does it track?

State Street SPDR S&P Oil & Gas Exploration & Production ETF (XOP) is an exchange-traded fund focused on the Equity Energy sector, managing $2.69B in assets. The fund has been trading since 2006-06-19. In seeking to track the performance of the S&P Oil & Gas Exploration & Production Select Industry Index, the fund employs a sampling strategy. It generally invests substantially all, but at least 80%, of its total assets...

How large is XOP and what does it cost to hold?

XOP currently manages $2.69B in assets. The annual expense ratio (TER) is 0.35%, deducted directly from fund assets. Portfolio turnover stands at 33%, reflecting how frequently holdings are replaced within a year. Lower expense ratios compound favorably over time – a 0.08% TER on a 10-year holding period adds up to meaningfully less drag than a 0.5% fund.

What are the largest holdings in XOP?

XOP allocates 99.3% of its portfolio to Energy. The three largest holdings are VG (4.5%), TPL (3.7%), OXY (2.9%). Concentration in the top holdings means single-name events in these positions can have an outsized effect on the ETF's price.

Does XOP pay dividends or distributions?

XOP currently distributes a yield of 2.00%. ETF distributions are typically passed through from dividends and interest generated by the underlying holdings. The actual payout frequency depends on the fund structure – most sector ETFs distribute quarterly.

What is XOP's historical performance?

Reported performance for XOP: year-to-date 21.74%, 3-year cumulative 18.50%, 5-year cumulative 20.15%. Past performance is not indicative of future results. Returns reflect price changes only and may differ from total return figures that include distributions.

What is the current trend signal for XOP?

As of the most recent session, XOP closed at $188.24. The swing trend is negative with ADX at 3.8 (weak trend strength). Momentum is bearish and has been running for 13 trading days. A Golden Cross is in place All data is updated once per trading day after the US market closes.

When was the last Trendchange signal for XOP?

The most recent Trendchange signal for XOP fired on 17.07.26 at $170.18. The position has been open for 15 trading days. Performance after 10 days: +2.76%. The system's historical edge across 68 tracked signals is +3.85%. Trendchange signals are based on proprietary moving average crossover logic applied to end-of-day price data.

XOP – State Street SPDR S&P Oil & Gas Exploration & Production ETF

ETF

Equity Energy | Inception: 2006-06-19

Quick Stats

Trend Signal

$188.24

Last Close

Official EOD price – basis for all calculations

▼ Short

Swing Trend

Moving average structure confirms downtrend – bears in control

+3.85%

Signal Edge

Slim positive edge across 4 signals – treat with caution

3.8

Trend Strength (ADX)

Weak / ranging – trend signals less reliable

Options Signals

25%

IV-Rank (52w)

IV in normal range – no clear vol edge

74% / 26%

Call / Put Flow

Bullish positioning – call premium dominates options flow

Last Trendchange Signal

17.07.26

Date

Signal entry date

$170.18

Entry Price

Closing price at signal date

15d

Days Held

Trading days since signal

+2.76%

+10d

Return after 10 trading days

-2.93%

+20d

Return after 20 trading days

-2.93%

+30d

Return after 30 trading days

-2.93%

+60d

Return after 60 trading days

Trend Overview

Trend Under Pressure – Bearish Composite Score: -2 / 7

XOP is showing signs of trend deterioration. The primary swing trend has turned negative. Momentum has been running negative for -13 days and downside pressure is still intensifying. The moving average structure is breaking down.

What to watch

This is not an environment for new long exposure. If holding a position, reassess the stop placement relative to the EMA21 at $183.63 and GD50 at $184.22.

XOP Price Chart

Technical Trend Analysis

As of 07.10.2026 · Close: $188.24 · ATR14: $2.44

Trend Under Pressure – Bearish Composite Score: -2 / 7

What to watch

This is not an environment for new long exposure. If holding a position, reassess the stop placement relative to the EMA21 at $183.63 and GD50 at $184.22.

Indicator	Signal	Detail
Swing Trend	▼ Short	Primary directional bias
Momentum	▼ Down · -13d	Strength: -0.19 – Rising
Trend Strength (ADX)	3.8 – Weak	ADX38: 17.1
Volatility (HV30)	24.5% – Calm	HV90: 27.9% \| HV180: 30.1%
Vola Compression	None	Normal range
MA Structure	Golden Cross ✓	Stack: Fully aligned – bullish stack
EMA21 Distance	0.51 ATR ↓	EMA21: $183.63
GD200 Extension	5.9 ATR – Normal	GD20: 0.2 \| GD50: 0.9 \| GD100: 3.3

📉 Downside Momentum Intensifying

Downward momentum active for -13 days and still building (-0.19). Selling pressure is not easing.

⚪ Trend Strength – ADX14: 3.8 (Weak)

Weak or ranging market. ADX38: 17.1. Trend-following signals carry lower reliability.

🔻 Volatility Calm

HV30: 24.5% | HV90: 27.9% | HV180: 30.1%. Short-term vol is below its 90-day average. Calmer conditions favour tighter setups.

⭐ Golden Cross – Long-term Bullish

Golden Cross in place. GD50 $184.22 above GD200 $164.59 by 11.92%. Long-term structure is bullish. MA stack: Fully aligned – bullish stack.

📉 EMA21 – Gap Narrowing

Price is 0.51 ATR from the EMA21 ($183.63) but the distance is shrinking.

📐 Key Price Levels & ATR Distance

GD20: $187.27 (0.2 ATR) | GD50: $184.22 (0.9 ATR) | GD100: $174.34 (3.3 ATR) | GD200: $164.59 (5.9 ATR). ATR14: $2.44.

Monthly Performance History

Year	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Total
2010	-8.53	-0.29	1.27	3.12	-10.21	-0.99	5.35	-7.78	6.24	2.65	8.50	6.93	22.81
2011	6.48	7.64	8.07	-1.58	-2.78	-0.10	4.27	-14.00	-18.84	34.66	6.14	-3.62	-0.09
2012	-0.13	8.68	-5.52	-2.56	-15.90	11.10	1.20	2.78	5.92	-4.29	-2.44	3.31	0.14
2013	5.12	-1.21	4.79	-4.10	7.64	-4.19	6.36	-3.31	5.28	3.60	-1.99	1.16	25.15
2014	-2.02	8.82	3.66	7.43	0.35	8.23	-8.27	7.17	-11.08	-8.93	-14.27	-4.07	-27.93
2015	-4.49	3.95	3.78	9.80	-9.53	-4.76	-15.12	2.94	-8.80	11.34	-2.27	-18.87	-36.43
2016	-6.19	-10.61	20.77	19.74	0.14	-2.85	-3.25	12.30	5.14	-8.28	18.28	-1.32	37.62
2017	-4.59	-4.83	-3.54	-6.27	-6.65	-3.07	-0.28	-6.57	11.61	-0.03	1.20	2.25	-10.74
2018	-3.43	-10.87	5.66	15.71	7.78	2.34	1.85	0.00	T 3.57	-17.54	-10.80	-21.47	-30.05
2019	T 11.90	-3.00	1.34	-0.71	-14.49	5.78	-7.98	-8.10	T 6.04	-1.99	T -6.82	T 16.86	-11.96
2020	-19.02	-18.33	-45.85	T 75.15	3.74	-1.72	1.40	T -0.92	-17.32	-0.22	T 28.23	9.30	-36.29
2021	8.95	22.72	-1.32	-6.27	T 7.40	2.35	-16.35	1.85	T 18.38	7.18	-11.12	3.03	65.23
2022	T 6.16	5.23	13.26	-4.82	T 17.14	-24.73	13.32	T 7.97	-9.59	T 13.95	-0.70	-8.22	38.78
2023	T 9.90	-3.43	-5.41	T -5.06	-6.44	T 8.29	10.87	4.29	-2.91	T 1.57	-4.79	T -1.57	15.22
2024	-3.57	T 6.20	8.89	-2.93	2.65	-1.46	0.36	-1.73	-2.14	T -2.24	T 12.48	-7.97	-4.04
2025	T -0.49	-2.24	T 5.73	-16.41	T 6.08	3.86	1.00	T 7.53	-1.76	-5.70	T 4.98	-6.53	-6.35
2026	T 8.75	13.23	13.96	1.92	T -7.18	-8.11	T 15.38	8.42	-6.95	2.14			45.97

T A T badge marks a Trendchange signal in that month. Hover for entry price.

XOP - Trendchange Chart

Trendchange Signal History

The last 10 Trendchange signals for XOP:

Date	Entry Price	Days Held	+10d	+20d	+30d	+60d
17.07.26	$170.18	15d	+2.76%	-2.93%	-2.93%	-2.93%
04.05.26	$181.01	4d	-6.45%	-6.45%	-6.45%	-6.45%
21.01.26	$134.63	59d	+3.83%	+9.97%	+19.42%	+33.95%
13.11.25	$131.92	20d	-0.18%	+0.83%	-0.14%	-0.14%
27.08.25	$131.40	16d	+0.28%	-0.99%	-0.99%	-0.99%
13.05.25	$127.35	4d	-3.61%	-4.84%	-4.84%	-4.84%
27.03.25	$131.82	9d	+1.46%	+1.46%	+1.46%	+0%
14.01.25	$142.89	12d	-3.9%	-3.33%	-3.33%	-3.33%
08.11.24	$140.03	27d	+4.91%	-0.44%	-0.44%	-0.44%
03.10.24	$139.81	9d	-3.82%	-2.95%	-2.95%	+0%

Signal Statistics - Historical Edge

Calculated edge for XOP: 3.85%

Range	N	10d	20d	30d	60d	Signal
10-15%	4	+11.7%	+11.19%	+11.04%	+9.34%	Close
7-10%	3	+8.27%	+4.57%	+3.14%	+1.47%	Close
5-7%	5	+6.16%	+5.14%	+4.38%	+4.38%	Close
3-5%	9	+4.23%	+6.23%	+8.73%	+11.17%	Hold
1-3%	8	+2.08%	+3%	+4.36%	+4.38%	Hold
0-1%	7	+0.28%	-0.11%	+2.4%	+2.09%	Close
-1-0%	5	-0.63%	+3.03%	+1.44%	+10.79%	Neg
-3-1%	14	-2.03%	-0.89%	+0.13%	+0.62%	Neg
-5-3%	9	-3.84%	-3.3%	-3.3%	-2.21%	Neg
-7-5%	4	-6.15%	-6.15%	-6.15%	-3.21%	Neg

Exit Rules: Stoploss: -10% | Close if below 1% after 10 days

Signal data as of October 7, 2026

LOW ALERT ● Neutral Strength: 3.5

Options Metrics

IV-Rank (52w)

25%

IV is in its normal historical range – no structural vol edge in either direction.

Call / Put Flow

74% / 26%

More than 60% of options premium is flowing into calls. This indicates net bullish positioning by market participants.

GEX (Mio.)

4,571,910.3

Positive GEX: market makers are long gamma. They buy dips and sell rallies, which suppresses volatility and keeps price in a range.

GEX Flip Strike

$184.00 · 2.3%

The GEX flip strike is the price level where dealer gamma exposure shifts from positive to negative. A break through this level often accelerates the move.

Max Pain

$185.00 · 1.7%

Max Pain is the price at which the most options contracts expire worthless. As expiration approaches, price often gravitates toward this level due to dealer hedging flows.

Spot Price

$188.24

Last traded price at signal calculation time

Gamma Exposure Timeline

Key GEX levels, Max Pain, and unusual activity across weekly and monthly expirations, plotted around the current spot price.

XOP GEX timeline showing put/call gamma pins, max pain and flip strike

Key GEX levels, Max Pain, Anchor, Ceiling and unusual activity across 14-30 DTE, plotted around the current spot price.

Put and call pins mark strikes where dealer gamma exposure concentrates. The GEX flip strike is where dealer hedging shifts from stabilizing (positive gamma) to amplifying (negative gamma) price moves. Max Pain is the strike where the most options expire worthless. Dashed markers flag unusual options activity. Learn how to use these signals in our options strategy guides →

View full options flow data and historical signals on the Options Flow Analysis Overview →

About State Street SPDR S&P Oil & Gas Exploration & Production ETF

In seeking to track the performance of the S&P Oil & Gas Exploration & Production Select Industry Index, the fund employs a sampling strategy. It generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index represents the oil and gas exploration and production segment of the S&P Total Market Index ("S&P TMI").

Fund Overview

Metric	Value
Assets under Management	$2.69 B
Expense Ratio	0.35%
Dividend Yield	2.00%
Portfolio Turnover	33%
YTD Return	21.74%
3-Year Return	18.50%
5-Year Return	20.15%

Sector Allocation

Sector	Weight
Energy	99.3%

Top 10 Holdings

Symbol	Company	Weight
VG	VENTURE GLOBAL INC ORDINARY SHARES CLASS A	4.48%
TPL	TEXAS PACIFIC LAND CORP	3.73%
OXY	OCCIDENTAL PETROLEUM CORP	2.9%
PBF	PBF ENERGY INC CLASS A	2.87%
APA	APA CORP	2.85%
CRC	CALIFORNIA RESOURCES CORP ORDINARY SHARES NEW	2.82%
VLO	VALERO ENERGY CORP	2.81%
OVV	OVINTIV INC	2.79%
XOM	EXXON MOBIL CORP	2.78%
CVX	CHEVRON CORP	2.74%

Frequently Asked Questions – State Street SPDR S&P Oil & Gas Exploration & Production ETF (XOP)

Disclaimer: All trade history on this page reflects the author's personal trading activity only. This is not financial advice. Past performance is not indicative of future results. See our full Disclaimer.