ISHG vs. XLK
ISHG (iShares 1-3 Year International Treasury Bond ETF) and XLK (State Street Technology Select Sector SPDR ETF) are both exchange-traded funds - ISHG is a International Government Bonds fund tracking the S&P/Citigroup International Treasury Bond Index Ex-US 1-3 Year, 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, ISHG returned -0.31%/yr vs 25.48%/yr for XLK. At a 0.15 correlation, their price movements are largely independent. ISHG charges 0.35%/yr vs 0.08%/yr for XLK.
Performance
ISHG vs. XLK - Performance Comparison
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Returns By Period
In the year-to-date period, ISHG achieves a -1.71% return, which is significantly lower than XLK's 28.25% return. Over the past 10 years, ISHG has underperformed XLK with an annualized return of -0.31%, while XLK has yielded a comparatively higher 25.48% annualized return.
ISHG
- 1D
- -0.34%
- 1M
- -1.79%
- YTD
- -1.71%
- 6M
- -1.87%
- 1Y
- -0.16%
- 3Y*
- 3.51%
- 5Y*
- -1.12%
- 10Y*
- -0.31%
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%
ISHG vs. XLK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ISHG iShares 1-3 Year International Treasury Bond ETF | -1.71% | 13.31% | -4.16% | 3.76% | -10.95% | -7.05% | 7.47% | -0.64% | -3.54% | 10.91% |
XLK State Street Technology Select Sector SPDR ETF | 28.25% | 24.61% | 21.63% | 56.02% | -27.73% | 34.74% | 43.62% | 49.86% | -1.68% | 34.26% |
Correlation
The correlation between ISHG and XLK is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Jan 28, 2009 | 0.15 |
The correlation between ISHG and XLK shifts across timeframes, from 0.14 (10 years) to 0.29 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ISHG vs. XLK — Risk / Return Rank
ISHG
XLK
ISHG vs. XLK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 1-3 Year International Treasury Bond ETF (ISHG) 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.
| ISHG | XLK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.27 | ||
| Sortino ratioReturn per unit of downside risk | -2.76 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.38 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | -0.03 | 3.31 | -3.34 |
| Martin ratioReturn relative to average drawdown | -0.07 | 10.56 | -10.64 |
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Drawdowns
ISHG vs. XLK - Drawdown Comparison
The maximum ISHG drawdown since its inception was -37.24%, smaller than the maximum XLK drawdown of -82.05%. Use the drawdown chart below to compare losses from any high point for ISHG and XLK.
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Drawdown Indicators
| ISHG | XLK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.24% | -82.05% | +44.81% |
Max Drawdown (1Y)Largest decline over 1 year | -5.02% | -15.92% | +10.90% |
Max Drawdown (3Y)Largest decline over 3 years | -8.21% | -25.66% | +17.45% |
Max Drawdown (5Y)Largest decline over 5 years | -22.45% | -33.56% | +11.11% |
Max Drawdown (10Y)Largest decline over 10 years | -25.56% | -33.56% | +8.00% |
Current DrawdownCurrent decline from peak | -23.56% | -6.96% | -16.60% |
Average DrawdownAverage peak-to-trough decline | -18.44% | -34.90% | +16.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.13% | 4.98% | -2.85% |
Volatility
ISHG vs. XLK - Volatility Comparison
The current volatility for iShares 1-3 Year International Treasury Bond ETF (ISHG) is 1.78%, while State Street Technology Select Sector SPDR ETF (XLK) has a volatility of 12.51%. This indicates that ISHG 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
| ISHG | XLK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.78% | 12.51% | -10.73% |
Volatility (6M)Calculated over the trailing 6-month period | 4.90% | 19.70% | -14.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.55% | 23.48% | -16.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.59% | 25.37% | -17.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.93% | 24.71% | -17.78% |
ISHG vs. XLK - Expense Ratio Comparison
ISHG has a 0.35% expense ratio, which is higher than XLK's 0.08% expense ratio.
Dividends
ISHG vs. XLK - Dividend Comparison
ISHG's dividend yield for the trailing twelve months is around 1.48%, more than XLK's 0.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ISHG iShares 1-3 Year International Treasury Bond ETF | 1.48% | 1.45% | 2.56% | 0.18% | 0.00% | 1.29% | 0.00% | 0.00% | 1.80% | 0.46% | 0.00% | 0.09% |
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
ISHG and XLK have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XLK has higher volatility (12.51%) compared to ISHG (1.78%). In terms of maximum drawdown, ISHG dropped -37.24% vs XLK's -82.05%.
On 10-year performance, XLK leads with 25.48% vs -0.31% for ISHG. On fees, XLK is cheaper at 0.08% per year. On volatility, ISHG has been the lower-risk option at 1.78%. 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 25.48% return vs -0.31%. 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 0.35% for ISHG.
ISHG has the higher dividend yield at 1.48%, compared with 0.43% for XLK.
ISHG is categorized as International Government Bonds, while XLK is Technology Equities. ISHG tracks S&P/Citigroup International Treasury Bond Index Ex-US 1-3 Year, 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: 0.35% for ISHG and 0.08% for XLK.
XLK currently has the higher Sharpe Ratio (2.25 vs -0.02), 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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