Integrated majors, shale producers, services, refiners, and midstream — the index's inflation hedge and the anti-duration trade. Watch it against defensives for the commodity-vs-growth rotation.
Follow the theme against the wider market.
Series before each basket's creation date are a backtest of the membership as of creation; live tracking starts at creation.
| Return | 1 day | 5 days | 20 days | 60 days | MTD | YTD | 1 year |
|---|---|---|---|---|---|---|---|
| Basket | +0.3% | +1.0% | +7.8% | +16.0% | +10.8% | +53.0% | +60.3% |
| vs S&P 500 | -0.3% | +0.5% | +7.0% | +10.9% | +9.1% | +34.5% | +38.4% |
1y · 2025-10-21 – 2026-10-21 · 252 / 252 sessions
Basket total returns · Annualized using 252 trading sessions · 0% risk-free rate and downside target. As of 2026-10-21 · close.
Sharpe: average daily simple return divided by its sample standard deviation, multiplied by √252. The risk-free rate is assumed to be 0%; this is not a cash-adjusted ratio.
Sortino: average daily simple return divided by downside deviation, multiplied by √252. Downside deviation is the square root of the average squared shortfall below 0%, counting all sessions, including zeros for gains.
Historical volatility: √(252 × average squared daily log return), matching the Vol page’s realized-volatility convention. This differs from the sample standard deviation used in Sharpe.
Each period requires complete history and at least 5 sessions. MTD and YTD follow the calendar; 1y is 252 sessions. Missing data or an undefined ratio displays — with a reason. Short periods can produce unstable ratios; intraday snapshots include a partial session. History before this basket’s creation is backtested. If a new basket has no stored daily return series yet, estimates from its rounded published chart levels are marked ≈.
Current members and the reasoning behind each inclusion. Returns are for individual holdings.
| Why it’s included | Added | |||||
|---|---|---|---|---|---|---|
| MPCMarathon Petroleum | Largest US refiner — crack-spread torque | -1.5% | -3.5% | +20.5% | +191.1% | 2026-06-11 |
| VLOValero Energy | Refining crack-spread leverage | +0.8% | -5.0% | +16.2% | +172.3% | 2026-06-11 |
| COPConocoPhillips | Largest independent E&P | -0.2% | +2.3% | +13.7% | +59.1% | 2026-06-11 |
| APAAPA Corporation | Oil E&P: Permian, Egypt, Suriname | -0.5% | +4.8% | +13.6% | +107.6% | 2026-06-11 |
| PSXPhillips 66 | Refining + midstream mix | -0.3% | -2.4% | +13.1% | +129.5% | 2026-06-11 |
| EOGEOG Resources | Low-cost shale, returns discipline | -0.0% | +3.1% | +12.1% | +55.1% | 2026-06-11 |
| XOMExxonMobil | Integrated scale + Permian + Guyana | +0.1% | +0.6% | +10.4% | +50.9% | 2026-06-11 |
| CVXChevron Corporation | Integrated #2, capital discipline | +0.5% | +2.1% | +10.3% | +52.9% | 2026-06-11 |
| OXYOccidental Petroleum | Permian scale; carbon-capture option | -0.4% | +2.1% | +9.3% | +54.6% | 2026-06-11 |
| KMIKinder Morgan | Natural-gas pipelines — volume annuity | +1.2% | +1.9% | +8.3% | +27.1% | 2026-06-11 |
| FANGDiamondback Energy | Pure-play Permian consolidation | -0.7% | +1.7% | +8.2% | +36.0% | 2026-06-11 |
| EXEExpand Energy | Biggest gas E&P by volume (Chesapeake + Southwestern) | +0.2% | +1.9% | +6.7% | -14.4% | 2026-06-11 |
| EQTEQT Corporation | Largest US natural-gas producer — LNG demand leverage | -1.4% | +2.5% | +5.9% | +1.8% | 2026-06-11 |
| TRGPTarga Resources | Permian gathering and NGL exports | +1.0% | +1.6% | +4.4% | +62.6% | 2026-06-11 |
| DVNDevon Energy | Delaware-basin oil E&P | -1.0% | -0.1% | +3.8% | +38.7% | 2026-06-11 |
| HALHalliburton | North American pressure-pumping leader | +1.2% | +3.5% | +3.0% | +21.9% | 2026-06-11 |
| OKEONEOK | NGL midstream | +0.3% | +1.3% | +2.9% | +31.5% | 2026-06-11 |
| TPLTexas Pacific Land Corporation | Permian royalties and water — asset-light oil torque | +0.6% | -2.9% | +2.5% | +20.4% | 2026-06-11 |
| WMBWilliams Companies | Natural gas pipes; power-demand kicker | +3.5% | +0.0% | +2.4% | +23.8% | 2026-06-11 |
| SLBSchlumberger | Global services cycle | +2.2% | +5.3% | -1.5% | +35.3% | 2026-06-11 |
| BKRBaker Hughes | Services plus LNG equipment backlog | +0.6% | +1.1% | -3.5% | +24.3% | 2026-06-11 |
Partial price histories: EXE from 2021-02-11.
Equal-weighted; monthly rebalance, buy-and-hold between rebalances; dated membership changes reset the target weights.
Tracked since 2026-06-11. Membership decisions are documented below.
Read the methodology →Basket returns include dividends. “vs S&P 500” compares the basket’s compounded growth with the benchmark’s. Green means positive; red means negative.
Cross-checked against XLE. Daily return correlation: 0.98 across 1710 sessions. cap-weighted — XOM and CVX are roughly a third of the fund vs our equal weight
FW 3000 pass: added AR, RRC, MTDR, CHRD, PR, OVV, DTM, WES, LBRT, WHD, DINO — names outside the S&P 500 but inside our broad universe; they count only in the FW 3000 version of this basket. Effective-dated to creation so the broad backtest covers the full set. The S&P 500 basket is unchanged.
Widening pass: basket now spans the entire S&P 500 energy sector — all E&Ps including gas (EQT, EXE, APA, DVN, OXY), every refiner (added MPC), all midstream (added KMI, TRGP), services (added HAL, BKR), and royalties (TPL). Reference pinned to XLE. New members are effective-dated to basket creation so the backtest and the reference correlation cover the widened set (the basket was one day old, with no meaningful live history to restate).
Initial composition across the value chain.