GXLK.L vs. IUIT.L

Last updated Jun 5, 2026

GXLK.L (SPDR S&P US Technology Select Sector UCITS ETF) and IUIT.L (iShares S&P 500 Information Technology Sector UCITS ETF) are both Technology Equities funds - GXLK.L tracks the MSCI World/Information Tech NR USD while IUIT.L tracks the S&P 500 Capped 35/20 Information Technology Index. Both are passively managed. Over the past 3 years, GXLK.L returned 26.51%/yr vs 31.04%/yr for IUIT.L. With a 0.95 correlation, they move nearly in lockstep. Both charge a 0.15% expense ratio.

Performance

GXLK.L vs. IUIT.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in SPDR S&P US Technology Select Sector UCITS ETF (GXLK.L) and iShares S&P 500 Information Technology Sector UCITS ETF (IUIT.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

GXLK.L is traded in GBP, while IUIT.L is traded in USD. To make them comparable, the IUIT.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

The year-to-date returns for both investments are quite close, with GXLK.L having a 23.38% return and IUIT.L slightly higher at 23.54%.

GXLK.L

• 1D: -2.05%
• 1M: 12.00%
• YTD: 23.38%
• 6M: 21.44%
• 1Y: 52.82%
• 3Y*: 26.51%
• 5Y*: —
• 10Y*: —

IUIT.L

• 1D: -2.11%
• 1M: 12.08%
• YTD: 23.54%
• 6M: 21.60%
• 1Y: 52.27%
• 3Y*: 31.04%
• 5Y*: 25.52%
• 10Y*: 27.27%

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

GXLK.L vs. IUIT.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GXLK.L SPDR S&P US Technology Select Sector UCITS ETF	23.38%	15.88%	24.73%	48.31%	-16.12%
IUIT.L iShares S&P 500 Information Technology Sector UCITS ETF	23.50%	14.17%	40.92%	51.48%	-16.86%

Correlation

The correlation between GXLK.L and IUIT.L is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (All Time) Calculated using the full available price history since Apr 5, 2022	0.95

The correlation between GXLK.L and IUIT.L has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.

Return for Risk

GXLK.L vs. IUIT.L — Risk / Return Rank

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

GXLK.L

GXLK.L Risk / Return Rank: 72
GXLK.L Sharpe Ratio Rank: 85
GXLK.L Sortino Ratio Rank: 80
GXLK.L Omega Ratio Rank: 78
GXLK.L Calmar Ratio Rank: 66
GXLK.L Martin Ratio Rank: 50

IUIT.L

IUIT.L Risk / Return Rank: 68
IUIT.L Sharpe Ratio Rank: 80
IUIT.L Sortino Ratio Rank: 76
IUIT.L Omega Ratio Rank: 70
IUIT.L Calmar Ratio Rank: 62
IUIT.L Martin Ratio Rank: 53

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.

GXLK.L vs. IUIT.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P US Technology Select Sector UCITS ETF (GXLK.L) and iShares S&P 500 Information Technology Sector UCITS ETF (IUIT.L). 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.

	GXLK.L	IUIT.L	Difference
Sharpe ratio: Return per unit of total volatility	2.77	2.61	+0.16
Sortino ratio: Return per unit of downside risk	3.53	3.37	+0.15
Omega ratio: Gain probability vs. loss probability	1.46	1.43	+0.03
Calmar ratio: Return relative to maximum drawdown	3.21	3.13	+0.08
Martin ratio: Return relative to average drawdown	8.20	7.94	+0.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GXLK.L vs. IUIT.L - Sharpe Ratio Comparison

The current GXLK.L Sharpe Ratio is 2.77, which is comparable to the IUIT.L Sharpe Ratio of 2.61. The chart below compares the historical Sharpe Ratios of GXLK.L and IUIT.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GXLK.L	IUIT.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.77	2.61	+0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.12	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.24	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.79	1.23	-0.44

Drawdowns

GXLK.L vs. IUIT.L - Drawdown Comparison

The maximum GXLK.L drawdown since its inception was -28.24%, roughly equal to the maximum IUIT.L drawdown of -28.01%. Use the drawdown chart below to compare losses from any high point for GXLK.L and IUIT.L.

Drawdown Indicators

	GXLK.L	IUIT.L	Difference
Max Drawdown Largest peak-to-trough decline	-28.24%	-28.01%	-0.23%
Max Drawdown (1Y) Largest decline over 1 year	-16.67%	-16.96%	+0.29%
Max Drawdown (3Y) Largest decline over 3 years	-28.24%	-28.01%	-0.23%
Max Drawdown (5Y) Largest decline over 5 years	—	-28.01%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-28.01%	—
Current Drawdown Current decline from peak	-2.76%	-2.79%	+0.03%
Average Drawdown Average peak-to-trough decline	-7.64%	-5.29%	-2.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.54%	6.70%	-0.16%

Volatility

GXLK.L vs. IUIT.L - Volatility Comparison

The current volatility for SPDR S&P US Technology Select Sector UCITS ETF (GXLK.L) is 6.90%, while iShares S&P 500 Information Technology Sector UCITS ETF (IUIT.L) has a volatility of 7.58%. This indicates that GXLK.L experiences smaller price fluctuations and is considered to be less risky than IUIT.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GXLK.L	IUIT.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.90%	7.58%	-0.68%
Volatility (6M) Calculated over the trailing 6-month period	14.09%	15.33%	-1.24%
Volatility (1Y) Calculated over the trailing 1-year period	19.32%	20.32%	-1.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.83%	22.83%	+4.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.83%	22.51%	+4.32%

GXLK.L vs. IUIT.L - Expense Ratio Comparison

Both GXLK.L and IUIT.L have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

GXLK.L vs. IUIT.L - Dividend Comparison

Neither GXLK.L nor IUIT.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both GXLK.L and IUIT.L in my portfolio?

With a correlation of 0.97, GXLK.L and IUIT.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, GXLK.L or IUIT.L?

Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GXLK.L or IUIT.L?

GXLK.L and IUIT.L have the same expense ratio: 0.15% per year.

What is the main difference between GXLK.L and IUIT.L?

GXLK.L tracks MSCI World/Information Tech NR USD, while IUIT.L tracks S&P 500 Capped 35/20 Information Technology Index. They also come from different issuers: State Street and iShares.