KNCT vs. XNTK

Last updated Aug 2, 2026

KNCT (Invesco Next Gen Connectivity ETF) and XNTK (State Street SPDR NYSE Technology ETF) are both Technology Equities funds - KNCT tracks the STOXX World AC NexGen Connectivity Index while XNTK tracks the NYSE Technology Index. Both are passively managed. Over the past 10 years, KNCT returned 18.83%/yr vs 23.46%/yr for XNTK. Their correlation of 0.82 means they have usually moved in the same direction. KNCT charges 0.40%/yr vs 0.35%/yr for XNTK.

Performance

KNCT vs. XNTK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Next Gen Connectivity ETF (KNCT) and State Street SPDR NYSE Technology ETF (XNTK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KNCT achieves a 40.12% return, which is significantly higher than XNTK's 21.38% return. Over the past 10 years, KNCT has underperformed XNTK with an annualized return of 18.83%, while XNTK has yielded a comparatively higher 23.46% annualized return.

KNCT

• 1D: 0.08%
• 1M: -4.96%
• 6M: 31.73%
• YTD: 40.12%
• 1Y: 63.92%
• 3Y*: 33.13%
• 5Y*: 16.31%
• 10Y*: 18.83%
• ALL TIME*: 13.22%

XNTK

• 1D: 0.32%
• 1M: -7.35%
• 6M: 19.74%
• YTD: 21.38%
• 1Y: 45.94%
• 3Y*: 31.93%
• 5Y*: 16.77%
• 10Y*: 23.46%
• ALL TIME*: 11.11%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
KNCT Invesco Next Gen Connectivity ETF	$741.37K	$822.66K	$837.91K
XNTK State Street SPDR NYSE Technology ETF	$14.59M	$14.88M	$19.50M

KNCT vs. XNTK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KNCT Invesco Next Gen Connectivity ETF	40.12%	28.65%	19.41%	27.39%	-29.54%	21.83%	39.14%	26.35%	5.78%	15.41%
XNTK State Street SPDR NYSE Technology ETF	21.38%	38.06%	23.49%	70.13%	-41.07%	17.63%	73.91%	38.08%	-7.13%	40.37%

Correlation

The correlation between KNCT and XNTK is 0.91, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.91
Correlation (3Y) Balances recent behavior with more history.	0.89
Correlation (5Y) Shows whether the relationship held over a longer period.	0.87
Correlation (10Y) Provides a long-term view across more market conditions.	0.83
Correlation (All Time) Calculated using the full available price history since Jun 23, 2005	0.82

The correlation between KNCT and XNTK has been stable across timeframes, ranging from 0.82 to 0.91 - a consistent structural relationship.

KNCT vs. XNTK - Sectors Allocation Comparison

Sectors	KNCT	XNTK
Technology	86.3%	85.8%
Communication Services	10.0%	7.2%
Real Estate	3.0%	-
Industrials	0.7%	-
Financial Services	0.2%	-
Basic Materials	-	-
Consumer Cyclical	-	7.0%
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Utilities	-	-

Return for Risk

KNCT vs. XNTK — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

KNCT

KNCT Risk / Return Rank: 87
KNCT Sharpe Ratio Rank: 90
KNCT Sortino Ratio Rank: 85
KNCT Omega Ratio Rank: 86
KNCT Calmar Ratio Rank: 85
KNCT Martin Ratio Rank: 88

XNTK

XNTK Risk / Return Rank: 61
XNTK Sharpe Ratio Rank: 63
XNTK Sortino Ratio Rank: 57
XNTK Omega Ratio Rank: 59
XNTK Calmar Ratio Rank: 67
XNTK Martin Ratio Rank: 59

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

KNCT vs. XNTK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Next Gen Connectivity ETF (KNCT) 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.

	KNCT	XNTK	Difference
Sharpe ratio: Return per unit of total volatility	2.27	1.46	+0.81
Sortino ratio: Return per unit of downside risk	2.82	1.95	+0.87
Omega ratio: Gain probability vs. loss probability	1.38	1.25	+0.13
Calmar ratio: Return relative to maximum drawdown	3.31	2.30	+1.01
Martin ratio: Return relative to average drawdown	13.33	6.96	+6.38

KNCT vs. XNTK - Sharpe Ratio Comparison

The current KNCT Sharpe Ratio is 2.27, which is higher than the XNTK Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of KNCT and XNTK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

KNCT vs. XNTK - Drawdown Comparison

The maximum KNCT drawdown since its inception was -57.18%, smaller than the maximum XNTK drawdown of -72.38%. Use the drawdown chart below to compare losses from any high point for KNCT and XNTK.

Drawdown Indicators

	KNCT	XNTK	Difference
Max Drawdown Largest peak-to-trough decline	-57.18%	-72.38%	+15.20%
Max Drawdown (1Y) Largest decline over 1 year	-18.91%	-18.65%	-0.26%
Max Drawdown (3Y) Largest decline over 3 years	-21.40%	-28.11%	+6.71%
Max Drawdown (5Y) Largest decline over 5 years	-34.55%	-48.28%	+13.73%
Max Drawdown (10Y) Largest decline over 10 years	-34.55%	-48.28%	+13.73%
Current Drawdown Current decline from peak	-14.80%	-13.74%	-1.06%
Average Drawdown Average peak-to-trough decline	-10.73%	-21.21%	+10.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.68%	6.15%	-1.47%

Volatility

KNCT vs. XNTK - Volatility Comparison

Invesco Next Gen Connectivity ETF (KNCT) and State Street SPDR NYSE Technology ETF (XNTK) have volatilities of 11.26% and 11.16%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KNCT	XNTK	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.26%	11.16%	+0.10%
Volatility (6M) Calculated over the trailing 6-month period	24.68%	25.16%	-0.48%
Volatility (1Y) Calculated over the trailing 1-year period	27.67%	29.41%	-1.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.48%	29.01%	-4.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.55%	27.17%	-3.62%

KNCT vs. XNTK - Expense Ratio Comparison

KNCT has a 0.40% expense ratio, which is higher than XNTK's 0.35% expense ratio.

Dividends

KNCT vs. XNTK - Dividend Comparison

KNCT's dividend yield for the trailing twelve months is around 0.68%, more than XNTK's 0.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KNCT Invesco Next Gen Connectivity ETF	0.68%	0.86%	1.38%	0.60%	2.24%	0.55%	0.18%	0.44%	1.22%	0.66%	0.44%	0.00%
XNTK State Street SPDR NYSE Technology ETF	0.16%	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

Can I hold both KNCT and XNTK in my portfolio?

With a correlation of 0.91, KNCT 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.

Which is riskier, KNCT or XNTK?

KNCT has higher volatility (11.26%) compared to XNTK (11.16%). In terms of maximum drawdown, KNCT dropped -57.18% vs XNTK's -72.38%.

Which ETF is better, KNCT or XNTK?

On 10-year performance, XNTK leads with 23.46% vs 18.83% for KNCT. On fees, XNTK is cheaper at 0.35% per year. On volatility, XNTK has been the lower-risk option at 11.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KNCT or XNTK?

Over the 10-year period, XNTK has performed better with a 23.46% return vs 18.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KNCT or XNTK?

XNTK is cheaper with a 0.35% expense ratio, compared with 0.40% for KNCT.

Which ETF pays a higher dividend yield, KNCT or XNTK?

KNCT has the higher dividend yield at 0.68%, compared with 0.16% for XNTK.

What is the main difference between KNCT and XNTK?

KNCT tracks STOXX World AC NexGen Connectivity Index, while XNTK tracks NYSE Technology Index. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.40% for KNCT and 0.35% for XNTK.

Which has better risk-adjusted returns?

KNCT currently has the higher Sharpe Ratio (2.27 vs 1.46), 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.