GXLK.L vs. KWEB.L
GXLK.L (SPDR S&P US Technology Select Sector UCITS ETF) and KWEB.L (KraneShares CSI China Internet ETF) are both Technology Equities funds tracking the MSCI World/Information Tech NR USD, from State Street and Waystone Management respectively. Both are passively managed. Over the past 3 years, GXLK.L returned 26.51%/yr vs 2.21%/yr for KWEB.L. At a 0.26 correlation, their price movements are largely independent. GXLK.L charges 0.15%/yr vs 0.75%/yr for KWEB.L.
Performance
GXLK.L vs. KWEB.L - Performance Comparison
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Different Trading Currencies
GXLK.L is traded in GBP, while KWEB.L is traded in USD. To make them comparable, the KWEB.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, GXLK.L achieves a 23.38% return, which is significantly higher than KWEB.L's -20.11% return.
GXLK.L
- 1D
- -2.05%
- 1M
- 14.24%
- YTD
- 23.38%
- 6M
- 22.20%
- 1Y
- 53.75%
- 3Y*
- 26.51%
- 5Y*
- —
- 10Y*
- —
KWEB.L
- 1D
- -0.07%
- 1M
- -3.46%
- YTD
- -20.11%
- 6M
- -22.68%
- 1Y
- -13.75%
- 3Y*
- 2.21%
- 5Y*
- -13.04%
- 10Y*
- —
GXLK.L vs. KWEB.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% |
KWEB.L KraneShares CSI China Internet ETF | -20.11% | 16.41% | 15.45% | -14.37% | 1.50% |
Correlation
The correlation between GXLK.L and KWEB.L is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2022 | 0.26 |
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Return for Risk
GXLK.L vs. KWEB.L — Risk / Return Rank
GXLK.L
KWEB.L
GXLK.L vs. KWEB.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 KraneShares CSI China Internet ETF (KWEB.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 | KWEB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.30 | ||
| Sortino ratioReturn per unit of downside risk | +4.15 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 0.93 | +0.52 |
| Calmar ratioReturn relative to maximum drawdown | 3.21 | -0.40 | +3.61 |
| Martin ratioReturn relative to average drawdown | 8.20 | -0.82 | +9.02 |
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
| GXLK.L | KWEB.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.77 | -0.53 | +3.30 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.29 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.79 | -0.07 | +0.86 |
Drawdowns
GXLK.L vs. KWEB.L - Drawdown Comparison
The maximum GXLK.L drawdown since its inception was -28.24%, smaller than the maximum KWEB.L drawdown of -76.83%. Use the drawdown chart below to compare losses from any high point for GXLK.L and KWEB.L.
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Drawdown Indicators
| GXLK.L | KWEB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.24% | -76.83% | +48.59% |
Max Drawdown (1Y)Largest decline over 1 year | -16.67% | -34.43% | +17.76% |
Max Drawdown (3Y)Largest decline over 3 years | -28.24% | -34.43% | +6.19% |
Max Drawdown (5Y)Largest decline over 5 years | — | -65.91% | — |
Current DrawdownCurrent decline from peak | -2.76% | -67.18% | +64.42% |
Average DrawdownAverage peak-to-trough decline | -7.64% | -44.39% | +36.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.54% | 16.70% | -10.16% |
Volatility
GXLK.L vs. KWEB.L - Volatility Comparison
The current volatility for SPDR S&P US Technology Select Sector UCITS ETF (GXLK.L) is 6.90%, while KraneShares CSI China Internet ETF (KWEB.L) has a volatility of 11.03%. This indicates that GXLK.L experiences smaller price fluctuations and is considered to be less risky than KWEB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GXLK.L | KWEB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.90% | 11.03% | -4.13% |
Volatility (6M)Calculated over the trailing 6-month period | 14.09% | 19.53% | -5.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.32% | 26.00% | -6.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.83% | 44.74% | -17.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.83% | 41.16% | -14.33% |
GXLK.L vs. KWEB.L - Expense Ratio Comparison
GXLK.L has a 0.15% expense ratio, which is lower than KWEB.L's 0.75% expense ratio.
Dividends
GXLK.L vs. KWEB.L - Dividend Comparison
Neither GXLK.L nor KWEB.L has paid dividends to shareholders.
Frequently Asked Questions
GXLK.L and KWEB.L have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GXLK.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GXLK.L is cheaper with a 0.15% expense ratio, compared with 0.75% for KWEB.L.
Both ETFs track MSCI World/Information Tech NR USD. They also come from different issuers: State Street and Waystone Management. Their fees differ too: 0.15% for GXLK.L and 0.75% for KWEB.L.
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