ITEC.L vs. LOCK.L
ITEC.L (SPDR® MSCI Europe Technology UCITS ETF) and LOCK.L (iShares Digital Security UCITS ETF USD Acc) are both Technology Equities funds tracking the MSCI World/Information Tech NR USD, from State Street and iShares respectively. Both are passively managed. Over the past 5 years, ITEC.L returned 11.43%/yr vs 10.16%/yr for LOCK.L. A 0.70 correlation means they provide meaningful diversification when combined. ITEC.L charges 0.18%/yr vs 0.40%/yr for LOCK.L.
Performance
ITEC.L vs. LOCK.L - Performance Comparison
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Different Trading Currencies
ITEC.L is traded in EUR, while LOCK.L is traded in USD. To make them comparable, the LOCK.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, ITEC.L achieves a 38.43% return, which is significantly higher than LOCK.L's 22.57% return.
ITEC.L
- 1D
- -0.80%
- 1M
- -6.60%
- 6M
- 25.98%
- YTD
- 38.43%
- 1Y
- 47.13%
- 3Y*
- 20.26%
- 5Y*
- 11.43%
- 10Y*
- 15.37%
LOCK.L
- 1D
- 0.26%
- 1M
- 6.92%
- 6M
- 20.78%
- YTD
- 22.57%
- 1Y
- 29.48%
- 3Y*
- 19.72%
- 5Y*
- 10.16%
- 10Y*
- —
ITEC.L vs. LOCK.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
ITEC.L SPDR® MSCI Europe Technology UCITS ETF | 38.43% | 9.68% | 8.54% | 34.98% | -28.18% | 35.96% | 14.04% | 36.65% | -13.63% |
LOCK.L iShares Digital Security UCITS ETF USD Acc | 22.57% | -1.91% | 24.64% | 29.91% | -24.71% | 25.19% | 16.51% | 31.35% | -11.94% |
Correlation
The correlation between ITEC.L and LOCK.L is 0.52, 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 | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Sep 7, 2018 | 0.70 |
The correlation between ITEC.L and LOCK.L shifts across timeframes, from 0.52 (1 year) to 0.70 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ITEC.L vs. LOCK.L — Risk / Return Rank
ITEC.L
LOCK.L
ITEC.L vs. LOCK.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR® MSCI Europe Technology UCITS ETF (ITEC.L) and iShares Digital Security UCITS ETF USD Acc (LOCK.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.
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.
| ITEC.L | LOCK.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.37 | ||
| Sortino ratioReturn per unit of downside risk | +0.48 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.24 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 4.08 | 2.45 | +1.63 |
| Martin ratioReturn relative to average drawdown | 10.05 | 5.35 | +4.71 |
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Drawdowns
ITEC.L vs. LOCK.L - Drawdown Comparison
The maximum ITEC.L drawdown since its inception was -38.49%, which is greater than LOCK.L's maximum drawdown of -32.20%. Use the drawdown chart below to compare losses from any high point for ITEC.L and LOCK.L.
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Drawdown Indicators
| ITEC.L | LOCK.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.49% | -32.20% | -6.29% |
Max Drawdown (1Y)Largest decline over 1 year | -11.51% | -12.00% | +0.49% |
Max Drawdown (3Y)Largest decline over 3 years | -26.94% | -26.18% | -0.76% |
Max Drawdown (5Y)Largest decline over 5 years | -38.49% | -28.57% | -9.92% |
Max Drawdown (10Y)Largest decline over 10 years | -38.49% | — | — |
Current DrawdownCurrent decline from peak | -8.31% | -1.38% | -6.93% |
Average DrawdownAverage peak-to-trough decline | -9.01% | -8.94% | -0.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.68% | 5.50% | -0.82% |
Volatility
ITEC.L vs. LOCK.L - Volatility Comparison
SPDR® MSCI Europe Technology UCITS ETF (ITEC.L) has a higher volatility of 10.57% compared to iShares Digital Security UCITS ETF USD Acc (LOCK.L) at 7.06%. This indicates that ITEC.L's price experiences larger fluctuations and is considered to be riskier than LOCK.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ITEC.L | LOCK.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.57% | 7.06% | +3.51% |
Volatility (6M)Calculated over the trailing 6-month period | 22.67% | 18.43% | +4.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.71% | 22.23% | +5.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.17% | 20.93% | +5.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.15% | 20.91% | +3.24% |
ITEC.L vs. LOCK.L - Expense Ratio Comparison
ITEC.L has a 0.18% expense ratio, which is lower than LOCK.L's 0.40% expense ratio.
Dividends
ITEC.L vs. LOCK.L - Dividend Comparison
Neither ITEC.L nor LOCK.L has paid dividends to shareholders.
Frequently Asked Questions
ITEC.L and LOCK.L have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ITEC.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ITEC.L is cheaper with a 0.18% expense ratio, compared with 0.40% for LOCK.L.
Both ETFs track MSCI World/Information Tech NR USD. They also come from different issuers: State Street and iShares. Their fees differ too: 0.18% for ITEC.L and 0.40% for LOCK.L.
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