IYW vs. XNTK
IYW (iShares U.S. Technology ETF) and XNTK (State Street SPDR NYSE Technology ETF) are both Technology Equities funds - IYW tracks the Russell 1000 Technology RIC 22.5/45 Capped Index while XNTK tracks the NYSE Technology Index. Both are passively managed. Over the past 10 years, IYW returned 25.94%/yr vs 25.67%/yr for XNTK. Their correlation of 0.90 suggests significant overlap in exposure. IYW charges 0.38%/yr vs 0.35%/yr for XNTK.
Performance
IYW vs. XNTK - Performance Comparison
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Returns By Period
In the year-to-date period, IYW achieves a 21.96% return, which is significantly lower than XNTK's 32.72% return. Both investments have delivered pretty close results over the past 10 years, with IYW having a 25.94% annualized return and XNTK not far behind at 25.67%.
IYW
- 1D
- -3.91%
- 1M
- 0.69%
- YTD
- 21.96%
- 6M
- 20.43%
- 1Y
- 47.04%
- 3Y*
- 32.10%
- 5Y*
- 20.32%
- 10Y*
- 25.94%
XNTK
- 1D
- -5.42%
- 1M
- 5.72%
- YTD
- 32.72%
- 6M
- 30.83%
- 1Y
- 62.72%
- 3Y*
- 39.51%
- 5Y*
- 19.21%
- 10Y*
- 25.67%
IYW vs. XNTK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IYW iShares U.S. Technology ETF | 21.96% | 25.38% | 30.25% | 65.44% | -34.83% | 35.44% | 47.45% | 46.64% | -0.93% | 36.60% |
XNTK State Street SPDR NYSE Technology ETF | 32.72% | 38.06% | 23.49% | 70.13% | -41.07% | 17.63% | 73.91% | 38.08% | -7.13% | 40.37% |
Correlation
The correlation between IYW and XNTK is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2001 | 0.90 |
The correlation between IYW and XNTK has been stable across timeframes, ranging from 0.90 to 0.95 - a consistent structural relationship.
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Return for Risk
IYW vs. XNTK — Risk / Return Rank
IYW
XNTK
IYW vs. XNTK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Technology ETF (IYW) and State Street SPDR NYSE Technology ETF (XNTK). 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.
| IYW | XNTK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.40 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.65 | 3.71 | -1.05 |
| Martin ratioReturn relative to average drawdown | 8.46 | 12.03 | -3.56 |
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Drawdowns
IYW vs. XNTK - Drawdown Comparison
The maximum IYW drawdown since its inception was -81.90%, which is greater than XNTK's maximum drawdown of -72.38%. Use the drawdown chart below to compare losses from any high point for IYW and XNTK.
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Drawdown Indicators
| IYW | XNTK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.90% | -72.38% | -9.52% |
Max Drawdown (1Y)Largest decline over 1 year | -17.81% | -17.00% | -0.81% |
Max Drawdown (3Y)Largest decline over 3 years | -26.47% | -28.11% | +1.64% |
Max Drawdown (5Y)Largest decline over 5 years | -39.44% | -48.28% | +8.84% |
Max Drawdown (10Y)Largest decline over 10 years | -39.44% | -48.28% | +8.84% |
Current DrawdownCurrent decline from peak | -6.35% | -5.42% | -0.93% |
Average DrawdownAverage peak-to-trough decline | -34.59% | -21.26% | -13.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.57% | 5.23% | +0.34% |
Volatility
IYW vs. XNTK - Volatility Comparison
The current volatility for iShares U.S. Technology ETF (IYW) is 11.15%, while State Street SPDR NYSE Technology ETF (XNTK) has a volatility of 14.84%. This indicates that IYW experiences smaller price fluctuations and is considered to be less risky than XNTK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IYW | XNTK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.15% | 14.84% | -3.69% |
Volatility (6M)Calculated over the trailing 6-month period | 18.45% | 22.07% | -3.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.34% | 26.71% | -4.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.24% | 28.52% | -2.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.26% | 26.92% | -1.66% |
IYW vs. XNTK - Expense Ratio Comparison
IYW has a 0.38% expense ratio, which is higher than XNTK's 0.35% expense ratio.
Dividends
IYW vs. XNTK - Dividend Comparison
IYW's dividend yield for the trailing twelve months is around 0.11%, less than XNTK's 0.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IYW iShares U.S. Technology ETF | 0.11% | 0.14% | 0.21% | 0.34% | 0.50% | 0.31% | 0.56% | 0.72% | 0.92% | 0.82% | 1.14% | 1.12% |
XNTK State Street SPDR NYSE Technology ETF | 0.15% | 0.23% | 0.42% | 0.34% | 0.85% | 0.34% | 0.30% | 0.61% | 29.64% | 1.29% | 0.81% | 0.93% |
Frequently Asked Questions
With a correlation of 0.93, IYW and XNTK 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.
XNTK has higher volatility (14.84%) compared to IYW (11.15%). In terms of maximum drawdown, IYW dropped -81.90% vs XNTK's -72.38%.
On 10-year performance, IYW leads with 25.94% vs 25.67% for XNTK. On fees, XNTK is cheaper at 0.35% per year. On volatility, IYW has been the lower-risk option at 11.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IYW has performed better with a 25.94% return vs 25.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XNTK is cheaper with a 0.35% expense ratio, compared with 0.38% for IYW.
XNTK has the higher dividend yield at 0.15%, compared with 0.11% for IYW.
IYW tracks Russell 1000 Technology RIC 22.5/45 Capped Index, while XNTK tracks NYSE Technology Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.38% for IYW and 0.35% for XNTK.
XNTK currently has the higher Sharpe Ratio (2.36 vs 2.12), 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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