AVIV vs. XLK

Last updated Jun 13, 2026

AVIV (Avantis International Large Cap Value ETF) and XLK (State Street Technology Select Sector SPDR ETF) are both exchange-traded funds - AVIV is a Foreign Large Cap Equities fund tracking the MSCI World ex-U.S. Value Index, while XLK is a Technology Equities fund tracking the S&P Technology Select Sector Daily Capped 35/20 Index. Both are passively managed. Over the past 3 years, AVIV returned 21.41%/yr vs 30.28%/yr for XLK. A 0.56 correlation means they provide meaningful diversification when combined. AVIV charges 0.25%/yr vs 0.08%/yr for XLK.

Performance

AVIV vs. XLK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis International Large Cap Value ETF (AVIV) and State Street Technology Select Sector SPDR ETF (XLK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVIV achieves a 12.06% return, which is significantly lower than XLK's 28.52% return.

AVIV

• 1D: 0.59%
• 1M: 0.54%
• YTD: 12.06%
• 6M: 13.52%
• 1Y: 32.22%
• 3Y*: 21.41%
• 5Y*: —
• 10Y*: —

XLK

• 1D: 0.87%
• 1M: 2.95%
• YTD: 28.52%
• 6M: 28.96%
• 1Y: 55.42%
• 3Y*: 30.28%
• 5Y*: 22.02%
• 10Y*: 25.19%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AVIV vs. XLK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AVIV Avantis International Large Cap Value ETF	12.06%	41.80%	4.30%	18.47%	-8.26%	1.83%
XLK State Street Technology Select Sector SPDR ETF	28.52%	24.61%	21.63%	56.02%	-27.73%	15.82%

Correlation

The correlation between AVIV and XLK is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021	0.56

The correlation between AVIV and XLK has been stable across timeframes, ranging from 0.49 to 0.56 - a consistent structural relationship.

AVIV vs. XLK - Sectors Allocation Comparison

Sectors	AVIV	XLK
Financial Services	27.5%	-
Industrials	17.3%	0.1%
Energy	14.2%	0.2%
Basic Materials	12.4%	-
Consumer Cyclical	10.2%	-
Healthcare	4.8%	-
Communication Services	4.6%	-
Technology	3.5%	99.7%
Consumer Defensive	3.4%	-
Utilities	1.1%	-
Real Estate	1.0%	-

Return for Risk

AVIV vs. XLK — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AVIV

AVIV Risk / Return Rank: 74
AVIV Sharpe Ratio Rank: 77
AVIV Sortino Ratio Rank: 77
AVIV Omega Ratio Rank: 77
AVIV Calmar Ratio Rank: 66
AVIV Martin Ratio Rank: 71

XLK

XLK Risk / Return Rank: 76
XLK Sharpe Ratio Rank: 85
XLK Sortino Ratio Rank: 76
XLK Omega Ratio Rank: 78
XLK Calmar Ratio Rank: 75
XLK Martin Ratio Rank: 68

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AVIV vs. XLK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis International Large Cap Value ETF (AVIV) 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.

	AVIV	XLK	Difference
Sharpe ratio: Return per unit of total volatility	2.15	2.37	-0.23
Sortino ratio: Return per unit of downside risk	2.96	2.92	+0.04
Omega ratio: Gain probability vs. loss probability	1.39	1.39	0.00
Calmar ratio: Return relative to maximum drawdown	2.91	3.36	-0.45
Martin ratio: Return relative to average drawdown	11.35	10.85	+0.50

AVIV vs. XLK - Sharpe Ratio Comparison

The current AVIV Sharpe Ratio is 2.15, which is comparable to the XLK Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of AVIV and XLK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AVIV vs. XLK - Drawdown Comparison

The maximum AVIV drawdown since its inception was -27.69%, smaller than the maximum XLK drawdown of -82.05%. Use the drawdown chart below to compare losses from any high point for AVIV and XLK.

Drawdown Indicators

	AVIV	XLK	Difference
Max Drawdown Largest peak-to-trough decline	-27.69%	-82.05%	+54.36%
Max Drawdown (1Y) Largest decline over 1 year	-10.78%	-15.92%	+5.14%
Max Drawdown (3Y) Largest decline over 3 years	-14.13%	-25.66%	+11.53%
Max Drawdown (5Y) Largest decline over 5 years	—	-33.56%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.56%	—
Current Drawdown Current decline from peak	-0.89%	-6.77%	+5.88%
Average Drawdown Average peak-to-trough decline	-5.10%	-34.93%	+29.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.76%	4.92%	-2.16%

Volatility

AVIV vs. XLK - Volatility Comparison

The current volatility for Avantis International Large Cap Value ETF (AVIV) is 5.13%, while State Street Technology Select Sector SPDR ETF (XLK) has a volatility of 10.86%. This indicates that AVIV experiences smaller price fluctuations and is considered to be less risky than XLK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVIV	XLK	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.13%	10.86%	-5.73%
Volatility (6M) Calculated over the trailing 6-month period	12.33%	18.92%	-6.59%
Volatility (1Y) Calculated over the trailing 1-year period	14.61%	22.55%	-7.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.93%	25.18%	-8.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.93%	24.64%	-7.71%

AVIV vs. XLK - Expense Ratio Comparison

AVIV has a 0.25% expense ratio, which is higher than XLK's 0.08% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

AVIV vs. XLK - Dividend Comparison

AVIV's dividend yield for the trailing twelve months is around 3.95%, more than XLK's 0.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVIV Avantis International Large Cap Value ETF	3.95%	3.01%	3.46%	3.64%	2.84%	0.57%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XLK State Street Technology Select Sector SPDR ETF	0.41%	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

Can I hold both AVIV and XLK in my portfolio?

AVIV and XLK have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVIV or XLK?

XLK has higher volatility (10.86%) compared to AVIV (5.13%). In terms of maximum drawdown, AVIV dropped -27.69% vs XLK's -82.05%.

Which ETF is better, AVIV or XLK?

On 3-year performance, XLK leads with 30.28% vs 21.41% for AVIV. On fees, XLK is cheaper at 0.08% per year. On volatility, AVIV has been the lower-risk option at 5.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVIV or XLK?

Over the 3-year period, XLK has performed better with a 30.28% return vs 21.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVIV or XLK?

XLK is cheaper with a 0.08% expense ratio, compared with 0.25% for AVIV.

Which ETF pays a higher dividend yield, AVIV or XLK?

AVIV has the higher dividend yield at 3.95%, compared with 0.41% for XLK.

What is the main difference between AVIV and XLK?

AVIV is categorized as Foreign Large Cap Equities, while XLK is Technology Equities. AVIV tracks MSCI World ex-U.S. Value Index, while XLK tracks S&P Technology Select Sector Daily Capped 35/20 Index. They also come from different issuers: Avantis and State Street. Their fees differ too: 0.25% for AVIV and 0.08% for XLK.

Which has better risk-adjusted returns?

XLK currently has the higher Sharpe Ratio (2.37 vs 2.15), 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.