Energy Select Sector SPDR XLE is the largest and the most popular ETF in the energy space, with AUM of $38 billion and an average daily volume of 25.7 million shares. Energy Select Sector SPDR ETF (XLE): ETF Research Reports In addition to inflation, logistical challenges and macroeconomic uncertainty, which have been recurring themes in the last couple of quarterly reporting cycles, a strong U.S. dollar is also acting as a headwind this earnings season.