IHAK vs. XLK

Last updated Jun 5, 2026

IHAK (iShares Cybersecurity & Tech ETF) and XLK (State Street Technology Select Sector SPDR ETF) are both Technology Equities funds - IHAK tracks the NYSE FactSet Global Cyber Security Index while XLK tracks the S&P Technology Select Sector Daily Capped 35/20 Index. Both are passively managed. Over the past 5 years, IHAK returned 7.79%/yr vs 23.44%/yr for XLK. A 0.72 correlation means they provide meaningful diversification when combined. IHAK charges 0.47%/yr vs 0.08%/yr for XLK.

Performance

IHAK vs. XLK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Cybersecurity & Tech ETF (IHAK) 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, IHAK achieves a 22.96% return, which is significantly lower than XLK's 34.34% return.

IHAK

• 1D: -0.22%
• 1M: 19.29%
• YTD: 22.96%
• 6M: 19.22%
• 1Y: 14.94%
• 3Y*: 17.49%
• 5Y*: 7.79%
• 10Y*: —

XLK

• 1D: -1.56%
• 1M: 16.63%
• YTD: 34.34%
• 6M: 33.10%
• 1Y: 64.08%
• 3Y*: 33.46%
• 5Y*: 23.44%
• 10Y*: 25.62%

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

IHAK vs. XLK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
IHAK iShares Cybersecurity & Tech ETF	22.96%	-1.29%	7.60%	37.77%	-25.81%	11.13%	51.22%	6.66%
XLK State Street Technology Select Sector SPDR ETF	34.34%	24.61%	21.63%	56.02%	-27.73%	34.74%	43.62%	20.60%

Correlation

The correlation between IHAK and XLK is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (All Time) Calculated using the full available price history since Jun 14, 2019	0.72

The correlation between IHAK and XLK shifts across timeframes, from 0.55 (1 year) to 0.72 (all time), reflecting how their relationship changes across market environments.

IHAK vs. XLK - Sectors Allocation Comparison

Sectors	IHAK	XLK
Technology	95.8%	99.7%
Industrials	3.3%	0.1%
Communication Services	0.4%	-
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	0.2%
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

IHAK vs. XLK — Risk / Return Rank

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

IHAK

IHAK Risk / Return Rank: 19
IHAK Sharpe Ratio Rank: 20
IHAK Sortino Ratio Rank: 20
IHAK Omega Ratio Rank: 20
IHAK Calmar Ratio Rank: 17
IHAK Martin Ratio Rank: 16

XLK

XLK Risk / Return Rank: 82
XLK Sharpe Ratio Rank: 90
XLK Sortino Ratio Rank: 85
XLK Omega Ratio Rank: 83
XLK Calmar Ratio Rank: 79
XLK Martin Ratio Rank: 73

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.

IHAK vs. XLK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Cybersecurity & Tech ETF (IHAK) 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.

	IHAK	XLK	Difference
Sharpe ratio: Return per unit of total volatility	0.62	3.09	-2.46
Sortino ratio: Return per unit of downside risk	0.98	3.77	-2.79
Omega ratio: Gain probability vs. loss probability	1.13	1.49	-0.37
Calmar ratio: Return relative to maximum drawdown	0.64	4.04	-3.41
Martin ratio: Return relative to average drawdown	1.50	13.55	-12.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IHAK vs. XLK - Sharpe Ratio Comparison

The current IHAK Sharpe Ratio is 0.62, which is lower than the XLK Sharpe Ratio of 3.09. The chart below compares the historical Sharpe Ratios of IHAK 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.

Sharpe Ratios by Period

	IHAK	XLK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.62	3.09	-2.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.33	0.95	-0.61
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.05	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.41	+0.13

Drawdowns

IHAK vs. XLK - Drawdown Comparison

The maximum IHAK drawdown since its inception was -34.42%, smaller than the maximum XLK drawdown of -82.05%. Use the drawdown chart below to compare losses from any high point for IHAK and XLK.

Drawdown Indicators

	IHAK	XLK	Difference
Max Drawdown Largest peak-to-trough decline	-34.42%	-82.05%	+47.63%
Max Drawdown (1Y) Largest decline over 1 year	-23.48%	-15.92%	-7.56%
Max Drawdown (3Y) Largest decline over 3 years	-23.48%	-25.66%	+2.18%
Max Drawdown (5Y) Largest decline over 5 years	-34.42%	-33.56%	-0.86%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.56%	—
Current Drawdown Current decline from peak	-3.03%	-2.54%	-0.49%
Average Drawdown Average peak-to-trough decline	-10.76%	-34.95%	+24.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.98%	4.74%	+5.24%

Volatility

IHAK vs. XLK - Volatility Comparison

iShares Cybersecurity & Tech ETF (IHAK) has a higher volatility of 9.43% compared to State Street Technology Select Sector SPDR ETF (XLK) at 7.27%. This indicates that IHAK's price experiences larger fluctuations and is considered to be riskier than XLK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IHAK	XLK	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.43%	7.27%	+2.16%
Volatility (6M) Calculated over the trailing 6-month period	19.92%	16.76%	+3.16%
Volatility (1Y) Calculated over the trailing 1-year period	24.03%	20.86%	+3.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.57%	24.90%	-1.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.41%	24.49%	-0.08%

IHAK vs. XLK - Expense Ratio Comparison

IHAK has a 0.47% expense ratio, which is higher than XLK's 0.08% expense ratio.

Dividends

IHAK vs. XLK - Dividend Comparison

IHAK's dividend yield for the trailing twelve months is around 0.07%, less than XLK's 0.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IHAK iShares Cybersecurity & Tech ETF	0.07%	0.08%	0.20%	0.13%	0.25%	0.50%	0.40%	0.50%	0.00%	0.00%	0.00%	0.00%
XLK State Street Technology Select Sector SPDR ETF	0.40%	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 IHAK and XLK in my portfolio?

IHAK and XLK have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IHAK or XLK?

IHAK has higher volatility (9.43%) compared to XLK (7.27%). In terms of maximum drawdown, IHAK dropped -34.42% vs XLK's -82.05%.

Which ETF is better, IHAK or XLK?

On 5-year performance, XLK leads with 23.44% vs 7.79% for IHAK. On fees, XLK is cheaper at 0.08% per year. On volatility, XLK has been the lower-risk option at 7.27%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IHAK or XLK?

Over the 5-year period, XLK has performed better with a 23.44% return vs 7.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IHAK or XLK?

XLK is cheaper with a 0.08% expense ratio, compared with 0.47% for IHAK.

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

XLK has the higher dividend yield at 0.40%, compared with 0.07% for IHAK.

What is the main difference between IHAK and XLK?

IHAK tracks NYSE FactSet Global Cyber Security Index, while XLK tracks S&P Technology Select Sector Daily Capped 35/20 Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.47% for IHAK and 0.08% for XLK.

Which has better risk-adjusted returns?

XLK currently has the higher Sharpe Ratio (3.09 vs 0.62), 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.