XLE State Street(R) Energy Select Sector SPDR(R) ETF
Health HarborXLE sails as: Old boat
Sailing speed follows growth: -4.1% a year crosses the harbor in 92 seconds.
🌊 Visit the Bay →- 81.4% slow and jumpy
- the 10 largest holdings are 75.5% of the fund
- revenue ranges average ±25.5%
Boat condition = number of warning signs: warning filings ≥ 5% of the fund; liabilities over assets ≥ 10%; slow and jumpy ≥ 30%; top 10 ≥ 60%; revenue ranges ≥ ±20%. A picture of the signs, not a rating and not investment advice.
Actuarial summary
| Measure | Value | What it means |
|---|---|---|
| Warning share | 0.0% | Share of the fund in companies that filed a warning event in the last 12 months. Lower is healthier. |
| Top-10 weight | 75.5% | How much the 10 largest holdings carry. Higher means more rides on a few names. |
| Effective holdings | 10 | The fund behaves like this many equal holdings (1 ÷ Σ weight²). Higher is more diversified. |
| Largest sector | Energy 94% | Of the holdings checked. Energy 94% · Industrials & services 4% · Real estate & trusts 2%. |
| Revenue range | ±25.5% | Weighted width of Edgarette’s tested 80% revenue ranges, on the 77% of the fund she covers. Narrower is more predictable. |
| Checked | 77.2% | Share of the fund Health Watch has read. |
| Cash conversion | 25.8% | Operating cash as a share of revenue, weighted. Higher = money arrives faster. |
| Growth speed | -4.1% a year | Revenue growth per year over three years, weighted. The long-term engine. |
| Dividend payers | 87% · raised 71% | Share of the covered fund in companies paying a common dividend, and raising it. |
| Dividend yield | 2.5% | Common dividends paid in the latest fiscal year ÷ market value, weighted. Market value = the reported price × diluted shares. |
| Buyback yield | +2.1% | Shares bought back minus shares issued for cash, ÷ market value, weighted. From the cash-flow statements. |
| Starting valuation | 20.6× earnings | Price ÷ earnings (P/E) of the covered fund, from net income as filed. Higher = more is already priced in. |
| Expected stock return | -20.2% to +30.7% a year | Building blocks (Grinold–Kroner): income yield +4.6% + revenue growth -24.8% to +26.1% from Edgarette’s 80% ranges + valuation change taken as 0. Midpoint +6.6%. Covers 73% (yields) and 77% (growth) of the fund. An assumption by a published method, not a promise or a price forecast. |
| Equity ratio | 45.4% | Equity as a share of assets, weighted. Higher = less owed to others. |
| Classic signals | Z″ distress 43% · F ≤ 2 0% · accruals ahead 0% | What a terminal subscription used to buy, a filing and arithmetic now give anyone: share of the covered fund in Altman’s distress zone (Z″ below 1.1), with a Piotroski F of 2 or less, and with earnings running ahead of cash (Sloan accruals of 10% or more). Display only. Method → |
| Liabilities over assets | 0.0% | Share of the covered fund in companies whose liabilities exceed assets (often from buybacks, not always distress). |
Inside view (own filings) and outside view (same-size peers) must agree · covers 77% of the fund · a description, not advice.
Risks to watch
- Concentrated: the 10 largest holdings are 75.5% of the fund.
- Behaves like about 10 equal holdings (effective number), so a few companies drive the result.
- Sector concentration: 93.7% of the checked holdings are Energy.
- Revenue is harder to predict than average: the holdings’ 80% ranges average ±25.5% (on the 76.5% of the fund Edgarette covers).
- 81.4% of the covered fund is slow and jumpy: growing slower than peers with revenue that swings more.
- Holdings are as of 2026-06-30; the fund may have changed since.
Counted as a warning: late-filing notice, bankruptcy, debt trigger, non-reliance, auditor change, restructuring, impairment or cyber incident. Leadership changes and exchange listing notices or transfers are listed but not counted, because the filing code alone cannot tell a warning from routine housekeeping.
Largest holdings
| Holding | Weight | Health watch, last 12 months | Classic signals Z″ · F · accruals |
|---|---|---|---|
| Exxon Mobil Corp | 22.67% | not checked | — |
| Chevron Corp $CVX | 16.09% | quiet · leadership change | F 6/9accruals -7.4% |
| ConocoPhillips $COP | 6.57% | quiet · leadership change | F 6/9accruals -9.7% |
| Williams Cos Inc/The $WMB | 5.03% | quiet · leadership change | Z″ -0.23 distressF 8/8accruals -5.8% |
| Valero Energy Corp $VLO | 4.64% | quiet · leadership change | Z″ 4.82 safeF 6/9accruals -5.9% |
| Marathon Petroleum Corp $MPC | 4.48% | quiet · leadership change | Z″ 2.91 safeF 8/9accruals -5.2% |
| EOG Resources Inc $EOG | 4.15% | quiet · leadership change | Z″ 4.5 safeF 4/8accruals -10.2% |
| SLB Ltd $SLB | 4.09% | quiet · leadership change | F 5/8accruals -6.0% |
| Phillips 66 $PSX | 4.07% | quiet · leadership change | F 8/9accruals -0.8% |
| Kinder Morgan Inc $KMI | 3.76% | quiet · leadership change | Z″ 0.65 distressF 7/8accruals -4.0% |
| Targa Resources Corp $TRGP | 3.45% | quiet · leadership change | Z″ 1.02 distressF 6/9accruals -8.3% |
| Baker Hughes Co $BKR | 3.30% | quiet · leadership change | F 5/7accruals -3.1% |
| ONEOK Inc $OKE | 3.29% | quiet · leadership change | Z″ 1.04 distressF 6/9accruals -3.4% |
| Devon Energy Corp $DVN | 2.86% | quiet · leadership change | F 6/8accruals -13.1% |
| Occidental Petroleum Corp $OXY | 2.12% | quiet · leadership change | F 4/8accruals -10.5% |
| Diamondback Energy Inc $FANG | 2.05% | quiet · leadership change | Z″ 1.47 greyF 4/8accruals -10.4% |
| EQT Corp $EQT | 2.00% | quiet · leadership change | Z″ 2.49 greyF 8/9accruals -7.6% |
| Halliburton Co $HAL | 1.70% | quiet · leadership change | Z″ 4.85 safeF 4/8accruals -6.5% |
| Texas Pacific Land Corp $TPL | 1.52% | quiet · leadership change | Z″ not coveredF 5/8accruals -4.5% |
| Expand Energy Corp $EXE | 1.31% | quiet · leadership change | Z″ 3.16 safeF 7/8accruals -9.8% |
| APA Corp $APA | 0.69% | quiet · leadership change | — |
Classic signals: Altman Z″ (1995 variant, book equity; safe above 2.6, distress below 1.1), Piotroski F of 9, Sloan accruals. Each from the holding’s own filings; display only, not a rating. Why? →
Holdings are as the fund reported them to the SEC for 2026-06-30; N-PORT is made public about 60 days after quarter end. Only common-stock holdings are read; cash, securities-lending collateral and derivatives are left out. Sectors come from each company’s SEC industry code (SIC), grouped broadly; they can differ from an index provider’s sector labels. Display only: this describes what the fund holds, it is not a rating of the fund and not investment advice. Source: the fund’s N-PORT filing · this page as JSON