FCLD vs. XLK
FCLD (Fidelity Cloud Computing ETF) and XLK (State Street Technology Select Sector SPDR ETF) are both Technology Equities funds - FCLD tracks the Fidelity Cloud Computing Index - Benchmark TR Gross while XLK tracks the S&P Technology Select Sector Daily Capped 35/20 Index. Both are passively managed. Over the past 3 years, FCLD returned 25.90%/yr vs 30.61%/yr for XLK. A 0.79 correlation means they provide meaningful diversification when combined. FCLD charges 0.39%/yr vs 0.08%/yr for XLK.
Performance
FCLD vs. XLK - Performance Comparison
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Returns By Period
In the year-to-date period, FCLD achieves a 26.49% return, which is significantly lower than XLK's 28.25% return.
FCLD
- 1D
- -1.44%
- 1M
- 5.37%
- YTD
- 26.49%
- 6M
- 25.09%
- 1Y
- 36.88%
- 3Y*
- 25.90%
- 5Y*
- —
- 10Y*
- —
XLK
- 1D
- -4.14%
- 1M
- 2.23%
- YTD
- 28.25%
- 6M
- 26.51%
- 1Y
- 52.47%
- 3Y*
- 30.61%
- 5Y*
- 21.34%
- 10Y*
- 25.48%
FCLD vs. XLK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FCLD Fidelity Cloud Computing ETF | 26.49% | 8.19% | 21.80% | 53.05% | -41.32% | -1.59% |
XLK State Street Technology Select Sector SPDR ETF | 28.25% | 24.61% | 21.63% | 56.02% | -27.73% | 15.25% |
Correlation
The correlation between FCLD and XLK is 0.70, 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 | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Oct 7, 2021 | 0.79 |
The correlation between FCLD and XLK has been stable across timeframes, ranging from 0.70 to 0.79 - a consistent structural relationship.
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Return for Risk
FCLD vs. XLK — Risk / Return Rank
FCLD
XLK
FCLD vs. XLK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Cloud Computing ETF (FCLD) 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.
| FCLD | XLK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.94 | ||
| Sortino ratioReturn per unit of downside risk | -0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.38 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.12 | 3.31 | -1.19 |
| Martin ratioReturn relative to average drawdown | 5.32 | 10.56 | -5.24 |
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Drawdowns
FCLD vs. XLK - Drawdown Comparison
The maximum FCLD drawdown since its inception was -50.85%, smaller than the maximum XLK drawdown of -82.05%. Use the drawdown chart below to compare losses from any high point for FCLD and XLK.
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Drawdown Indicators
| FCLD | XLK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.85% | -82.05% | +31.20% |
Max Drawdown (1Y)Largest decline over 1 year | -17.48% | -15.92% | -1.56% |
Max Drawdown (3Y)Largest decline over 3 years | -34.80% | -25.66% | -9.14% |
Max Drawdown (5Y)Largest decline over 5 years | — | -33.56% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.56% | — |
Current DrawdownCurrent decline from peak | -9.76% | -6.96% | -2.80% |
Average DrawdownAverage peak-to-trough decline | -20.36% | -34.90% | +14.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.95% | 4.98% | +1.97% |
Volatility
FCLD vs. XLK - Volatility Comparison
Fidelity Cloud Computing ETF (FCLD) and State Street Technology Select Sector SPDR ETF (XLK) have volatilities of 12.64% and 12.51%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FCLD | XLK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.64% | 12.51% | +0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 23.01% | 19.70% | +3.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.36% | 23.48% | +4.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.54% | 25.37% | +5.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.54% | 24.71% | +5.83% |
FCLD vs. XLK - Expense Ratio Comparison
FCLD has a 0.39% expense ratio, which is higher than XLK's 0.08% expense ratio.
Dividends
FCLD vs. XLK - Dividend Comparison
FCLD's dividend yield for the trailing twelve months is around 0.01%, less than XLK's 0.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCLD Fidelity Cloud Computing ETF | 0.01% | 0.03% | 0.13% | 0.17% | 0.26% | 0.13% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XLK State Street Technology Select Sector SPDR ETF | 0.43% | 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
FCLD and XLK have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FCLD has higher volatility (12.64%) compared to XLK (12.51%). In terms of maximum drawdown, FCLD dropped -50.85% vs XLK's -82.05%.
On 3-year performance, XLK leads with 30.61% vs 25.90% for FCLD. On fees, XLK is cheaper at 0.08% per year. On volatility, XLK has been the lower-risk option at 12.51%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, XLK has performed better with a 30.61% return vs 25.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XLK is cheaper with a 0.08% expense ratio, compared with 0.39% for FCLD.
XLK has the higher dividend yield at 0.43%, compared with 0.01% for FCLD.
FCLD tracks Fidelity Cloud Computing Index - Benchmark TR Gross, while XLK tracks S&P Technology Select Sector Daily Capped 35/20 Index. They also come from different issuers: Fidelity and State Street. Their fees differ too: 0.39% for FCLD and 0.08% for XLK.
XLK currently has the higher Sharpe Ratio (2.25 vs 1.31), 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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