FLRN vs. XLK
FLRN (SPDR Bloomberg Barclays Investment Grade Floating Rate ETF) and XLK (State Street Technology Select Sector SPDR ETF) are both exchange-traded funds - FLRN is a Corporate Bonds fund tracking the Bloomberg US Floating Rate Notes (<5 Y), 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 10 years, FLRN returned 3.03%/yr vs 25.84%/yr for XLK. At a 0.10 correlation, their price movements are largely independent. FLRN charges 0.15%/yr vs 0.08%/yr for XLK.
Performance
FLRN vs. XLK - Performance Comparison
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Returns By Period
In the year-to-date period, FLRN achieves a 1.87% return, which is significantly lower than XLK's 36.47% return. Over the past 10 years, FLRN has underperformed XLK with an annualized return of 3.03%, while XLK has yielded a comparatively higher 25.84% annualized return.
FLRN
- 1D
- 0.03%
- 1M
- 0.45%
- YTD
- 1.87%
- 6M
- 2.19%
- 1Y
- 4.88%
- 3Y*
- 5.67%
- 5Y*
- 4.19%
- 10Y*
- 3.03%
XLK
- 1D
- -1.00%
- 1M
- 21.09%
- YTD
- 36.47%
- 6M
- 35.71%
- 1Y
- 66.93%
- 3Y*
- 33.90%
- 5Y*
- 23.83%
- 10Y*
- 25.84%
FLRN vs. XLK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FLRN SPDR Bloomberg Barclays Investment Grade Floating Rate ETF | 1.87% | 5.01% | 6.32% | 6.54% | 1.31% | 0.39% | 0.77% | 4.02% | 1.39% | 1.81% |
XLK State Street Technology Select Sector SPDR ETF | 36.47% | 24.61% | 21.63% | 56.02% | -27.73% | 34.74% | 43.62% | 49.86% | -1.68% | 34.26% |
Correlation
The correlation between FLRN and XLK is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Dec 2, 2011 | 0.10 |
The correlation between FLRN and XLK shifts across timeframes, from 0.10 (all time) to 0.28 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FLRN vs. XLK — Risk / Return Rank
FLRN
XLK
FLRN vs. XLK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Barclays Investment Grade Floating Rate ETF (FLRN) 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.
| FLRN | XLK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.95 | ||
| Sortino ratioReturn per unit of downside risk | +9.26 | ||
| Omega ratioGain probability vs. loss probability | 3.44 | 1.52 | +1.92 |
| Calmar ratioReturn relative to maximum drawdown | 21.54 | 4.22 | +17.32 |
| Martin ratioReturn relative to average drawdown | 130.06 | 14.16 | +115.91 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FLRN | XLK | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 7.18 | 3.24 | +3.95 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 2.50 | 0.96 | +1.54 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.72 | 1.06 | -0.33 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.42 | +0.08 |
Drawdowns
FLRN vs. XLK - Drawdown Comparison
The maximum FLRN drawdown since its inception was -14.64%, smaller than the maximum XLK drawdown of -82.05%. Use the drawdown chart below to compare losses from any high point for FLRN and XLK.
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Drawdown Indicators
| FLRN | XLK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.64% | -82.05% | +67.41% |
Max Drawdown (1Y)Largest decline over 1 year | -0.23% | -15.92% | +15.69% |
Max Drawdown (3Y)Largest decline over 3 years | -1.43% | -25.66% | +24.23% |
Max Drawdown (5Y)Largest decline over 5 years | -2.16% | -33.56% | +31.40% |
Max Drawdown (10Y)Largest decline over 10 years | -14.64% | -33.56% | +18.92% |
Current DrawdownCurrent decline from peak | 0.00% | -1.00% | +1.00% |
Average DrawdownAverage peak-to-trough decline | -1.83% | -34.96% | +33.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.04% | 4.74% | -4.70% |
Volatility
FLRN vs. XLK - Volatility Comparison
The current volatility for SPDR Bloomberg Barclays Investment Grade Floating Rate ETF (FLRN) is 0.15%, while State Street Technology Select Sector SPDR ETF (XLK) has a volatility of 6.98%. This indicates that FLRN 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.
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Volatility by Period
| FLRN | XLK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.15% | 6.98% | -6.83% |
Volatility (6M)Calculated over the trailing 6-month period | 0.52% | 16.68% | -16.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.68% | 20.82% | -20.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.69% | 24.90% | -23.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.20% | 24.49% | -20.29% |
FLRN vs. XLK - Expense Ratio Comparison
FLRN has a 0.15% 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
FLRN vs. XLK - Dividend Comparison
FLRN's dividend yield for the trailing twelve months is around 4.51%, more than XLK's 0.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLRN SPDR Bloomberg Barclays Investment Grade Floating Rate ETF | 4.51% | 4.89% | 5.67% | 5.68% | 1.95% | 0.39% | 1.22% | 2.76% | 2.39% | 1.64% | 1.06% | 0.63% |
XLK State Street Technology Select Sector SPDR ETF | 0.39% | 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
FLRN and XLK have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XLK has higher volatility (6.98%) compared to FLRN (0.15%). In terms of maximum drawdown, FLRN dropped -14.64% vs XLK's -82.05%.
On 10-year performance, XLK leads with 25.84% vs 3.03% for FLRN. On fees, XLK is cheaper at 0.08% per year. On volatility, FLRN has been the lower-risk option at 0.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, XLK has performed better with a 25.84% return vs 3.03%. 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 0.15% for FLRN.
FLRN has the higher dividend yield at 4.51%, compared with 0.39% for XLK.
FLRN is categorized as Corporate Bonds, while XLK is Technology Equities. FLRN tracks Bloomberg US Floating Rate Notes (<5 Y), while XLK tracks S&P Technology Select Sector Daily Capped 35/20 Index. Their fees differ too: 0.15% for FLRN and 0.08% for XLK.
FLRN currently has the higher Sharpe Ratio (7.18 vs 3.24), 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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