LOCK.L vs. GXLK.L
LOCK.L (iShares Digital Security UCITS ETF USD Acc) and GXLK.L (SPDR S&P US Technology Select Sector UCITS ETF) are both Technology Equities funds tracking the MSCI World/Information Tech NR USD, from iShares and State Street respectively. Both are passively managed. Over the past 5 years, LOCK.L returned 7.58%/yr vs 11.49%/yr for GXLK.L. A 0.64 correlation means they provide meaningful diversification when combined. LOCK.L charges 0.40%/yr vs 0.15%/yr for GXLK.L.
Performance
LOCK.L vs. GXLK.L - Performance Comparison
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Different Trading Currencies
LOCK.L is traded in USD, while GXLK.L is traded in GBP. To make them comparable, the GXLK.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, LOCK.L achieves a 9.56% return, which is significantly lower than GXLK.L's 16.72% return.
LOCK.L
- 1D
- -1.07%
- 1M
- -5.76%
- YTD
- 9.56%
- 6M
- 8.70%
- 1Y
- 14.29%
- 3Y*
- 19.11%
- 5Y*
- 7.58%
- 10Y*
- —
GXLK.L
- 1D
- 0.00%
- 1M
- -2.43%
- YTD
- 16.72%
- 6M
- 16.48%
- 1Y
- 37.51%
- 3Y*
- 27.07%
- 5Y*
- 11.49%
- 10Y*
- 20.95%
LOCK.L vs. GXLK.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
LOCK.L iShares Digital Security UCITS ETF USD Acc | 9.56% | 11.29% | 16.92% | 33.93% | -29.10% | 16.48% | 26.98% | 28.45% | -12.65% |
GXLK.L SPDR S&P US Technology Select Sector UCITS ETF | 16.72% | 24.63% | 22.65% | 56.14% | -47.08% | 33.00% | 47.77% | 55.62% | -16.64% |
Correlation
The correlation between LOCK.L and GXLK.L is 0.62, 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 | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Sep 7, 2018 | 0.64 |
The correlation between LOCK.L and GXLK.L has been stable across timeframes, ranging from 0.62 to 0.70 - a consistent structural relationship.
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Return for Risk
LOCK.L vs. GXLK.L — Risk / Return Rank
LOCK.L
GXLK.L
LOCK.L vs. GXLK.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Digital Security UCITS ETF USD Acc (LOCK.L) and SPDR S&P US Technology Select Sector UCITS ETF (GXLK.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.
| LOCK.L | GXLK.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.12 | ||
| Sortino ratioReturn per unit of downside risk | -1.36 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.30 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.22 | 2.25 | -1.03 |
| Martin ratioReturn relative to average drawdown | 2.65 | 6.42 | -3.77 |
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Drawdowns
LOCK.L vs. GXLK.L - Drawdown Comparison
The maximum LOCK.L drawdown since its inception was -36.04%, smaller than the maximum GXLK.L drawdown of -51.15%. Use the drawdown chart below to compare losses from any high point for LOCK.L and GXLK.L.
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Drawdown Indicators
| LOCK.L | GXLK.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.04% | -51.15% | +15.11% |
Max Drawdown (1Y)Largest decline over 1 year | -11.65% | -16.71% | +5.06% |
Max Drawdown (3Y)Largest decline over 3 years | -22.28% | -27.01% | +4.73% |
Max Drawdown (5Y)Largest decline over 5 years | -36.04% | -51.15% | +15.11% |
Max Drawdown (10Y)Largest decline over 10 years | — | -51.15% | — |
Current DrawdownCurrent decline from peak | -10.97% | -8.07% | -2.90% |
Average DrawdownAverage peak-to-trough decline | -9.56% | -10.82% | +1.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.37% | 5.86% | -0.49% |
Volatility
LOCK.L vs. GXLK.L - Volatility Comparison
iShares Digital Security UCITS ETF USD Acc (LOCK.L) and SPDR S&P US Technology Select Sector UCITS ETF (GXLK.L) have volatilities of 8.98% and 8.72%, 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.
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Volatility by Period
| LOCK.L | GXLK.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.98% | 8.72% | +0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 17.53% | 16.15% | +1.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.36% | 21.08% | +0.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.24% | 25.76% | -4.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.15% | 26.25% | -5.10% |
LOCK.L vs. GXLK.L - Expense Ratio Comparison
LOCK.L has a 0.40% expense ratio, which is higher than GXLK.L's 0.15% expense ratio.
Dividends
LOCK.L vs. GXLK.L - Dividend Comparison
Neither LOCK.L nor GXLK.L has paid dividends to shareholders.
Frequently Asked Questions
LOCK.L and GXLK.L have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GXLK.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GXLK.L is cheaper with a 0.15% expense ratio, compared with 0.40% for LOCK.L.
Both ETFs track MSCI World/Information Tech NR USD. They also come from different issuers: iShares and State Street. Their fees differ too: 0.40% for LOCK.L and 0.15% for GXLK.L.
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