AJG vs. XLK
AJG (Arthur J. Gallagher & Co.) is a stock, while XLK (State Street Technology Select Sector SPDR ETF) is Technology Equities fund tracking the S&P Technology Select Sector Daily Capped 35/20 Index. Over the past 10 years, AJG returned 19.74%/yr vs 23.89%/yr for XLK. At a 0.38 correlation, their price movements are largely independent.
Performance
AJG vs. XLK - Performance Comparison
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Returns By Period
In the year-to-date period, AJG achieves a -1.36% return, which is significantly lower than XLK's 22.34% return. Over the past 10 years, AJG has underperformed XLK with an annualized return of 19.74%, while XLK has yielded a comparatively higher 23.89% annualized return.
AJG
- 1D
- -0.09%
- 1M
- 18.50%
- 6M
- -1.25%
- YTD
- -1.36%
- 1Y
- -18.08%
- 3Y*
- 6.09%
- 5Y*
- 13.67%
- 10Y*
- 19.74%
- ALL TIME*
- 12.61%
XLK
- 1D
- 0.07%
- 1M
- -8.11%
- 6M
- 20.96%
- YTD
- 22.34%
- 1Y
- 35.41%
- 3Y*
- 26.73%
- 5Y*
- 19.16%
- 10Y*
- 23.89%
- ALL TIME*
- 10.23%
AJG vs. XLK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AJG Arthur J. Gallagher & Co. | -1.36% | -8.03% | 27.34% | 20.51% | 12.44% | 39.02% | 32.12% | 31.79% | 19.19% | 25.04% |
XLK State Street Technology Select Sector SPDR ETF | 22.34% | 24.61% | 21.63% | 56.02% | -27.73% | 34.74% | 43.62% | 49.86% | -1.68% | 34.26% |
Correlation
The correlation between AJG and XLK is -0.25, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.23 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Dec 22, 1998 | 0.38 |
The correlation between AJG and XLK shifts across timeframes, from -0.25 (1 year) to 0.38 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
AJG vs. XLK — Risk / Return Rank
AJG
XLK
AJG vs. XLK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Arthur J. Gallagher & Co. (AJG) and State Street Technology Select Sector SPDR ETF (XLK). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| AJG | XLK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.06 | ||
| Sortino ratioReturn per unit of downside risk | -2.62 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.25 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | -0.47 | 2.23 | -2.70 |
| Martin ratioReturn relative to average drawdown | -0.79 | 6.53 | -7.32 |
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Drawdowns
AJG vs. XLK - Drawdown Comparison
The maximum AJG drawdown since its inception was -57.49%, smaller than the maximum XLK drawdown of -82.05%. Use the drawdown chart below to compare losses from any high point for AJG and XLK.
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Drawdown Indicators
| AJG | XLK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.49% | -82.05% | +24.56% |
Max Drawdown (1Y)Largest decline over 1 year | -38.59% | -15.92% | -22.67% |
Max Drawdown (3Y)Largest decline over 3 years | -44.40% | -25.66% | -18.74% |
Max Drawdown (5Y)Largest decline over 5 years | -44.40% | -33.56% | -10.84% |
Max Drawdown (10Y)Largest decline over 10 years | -44.40% | -33.56% | -10.84% |
Current DrawdownCurrent decline from peak | -26.31% | -11.25% | -15.06% |
Average DrawdownAverage peak-to-trough decline | -12.87% | -34.83% | +21.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.05% | 5.43% | +17.62% |
Volatility
AJG vs. XLK - Volatility Comparison
Arthur J. Gallagher & Co. (AJG) has a higher volatility of 10.92% compared to State Street Technology Select Sector SPDR ETF (XLK) at 9.59%. This indicates that AJG's price experiences larger fluctuations and is considered to be riskier than XLK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AJG | XLK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.92% | 9.59% | +1.33% |
Volatility (6M)Calculated over the trailing 6-month period | 24.11% | 20.94% | +3.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.72% | 24.61% | +5.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.42% | 25.57% | -2.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.24% | 24.81% | -1.57% |
Dividends
AJG vs. XLK - Dividend Comparison
AJG's dividend yield for the trailing twelve months is around 1.06%, more than XLK's 0.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AJG Arthur J. Gallagher & Co. | 1.06% | 1.00% | 0.85% | 0.98% | 1.08% | 1.13% | 1.46% | 1.81% | 2.23% | 2.47% | 2.93% | 3.62% |
XLK State Street Technology Select Sector SPDR ETF | 0.45% | 0.54% | 0.66% | 0.76% | 1.04% | 0.65% | 0.92% | 1.16% | 1.60% | 1.37% | 1.74% | 1.79% |
Frequently Asked Questions
AJG and XLK have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AJG has higher volatility (10.92%) compared to XLK (9.59%). In terms of maximum drawdown, AJG dropped -57.49% vs XLK's -82.05%.
XLK currently has the higher Sharpe Ratio (1.45 vs -0.61), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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