LOUP vs. XLKI

Last updated Aug 2, 2026

LOUP (Innovator Deepwater Frontier Tech ETF) and XLKI (State Street Technology Select Sector SPDR Premium Income ETF) are both Technology Equities funds. LOUP is passively managed, while XLKI is actively managed. Over the past year, LOUP returned 37.12% vs 24.59% for XLKI. Their correlation of 0.82 means they have usually moved in the same direction. LOUP charges 0.70%/yr vs 0.35%/yr for XLKI.

Performance

LOUP vs. XLKI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Deepwater Frontier Tech ETF (LOUP) and State Street Technology Select Sector SPDR Premium Income ETF (XLKI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LOUP achieves a 11.39% return, which is significantly higher than XLKI's 10.67% return.

LOUP

• 1D: -1.29%
• 1M: -11.40%
• 6M: 9.89%
• YTD: 11.39%
• 1Y: 37.12%
• 3Y*: 27.47%
• 5Y*: 10.70%
• 10Y*: —
• ALL TIME*: 16.49%

XLKI

• 1D: 0.01%
• 1M: -1.06%
• 6M: 9.29%
• YTD: 10.67%
• 1Y: 24.59%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 21.71%

*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)
LOUP Innovator Deepwater Frontier Tech ETF	$926.73K	$920.97K	$1.38M
XLKI State Street Technology Select Sector SPDR Premium Income ETF	$514.98K	$430.22K	$356.64K

LOUP vs. XLKI - Yearly Performance Comparison

	2026 (YTD)	2025
LOUP Innovator Deepwater Frontier Tech ETF	11.39%	18.37%
XLKI State Street Technology Select Sector SPDR Premium Income ETF	10.67%	10.02%

Correlation

The correlation between LOUP and XLKI is 0.82, 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.	0.82
Correlation (All Time) Calculated using the full available price history since Jul 30, 2025	0.82

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

LOUP vs. XLKI - Sectors Allocation Comparison

Sectors	LOUP	XLKI
Technology	57.5%	99.2%
Industrials	16.0%	-
Consumer Cyclical	10.2%	-
Utilities	3.6%	-
Financial Services	3.6%	99.9%
Energy	3.2%	-
Communication Services	3.0%	0.8%
Healthcare	2.8%	-
Basic Materials	-	-
Consumer Defensive	-	-
Real Estate	-	-

Return for Risk

LOUP vs. XLKI — Risk / Return Rank

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

LOUP

LOUP Risk / Return Rank: 42
LOUP Sharpe Ratio Rank: 42
LOUP Sortino Ratio Rank: 41
LOUP Omega Ratio Rank: 38
LOUP Calmar Ratio Rank: 44
LOUP Martin Ratio Rank: 42

XLKI

XLKI Risk / Return Rank: 51
XLKI Sharpe Ratio Rank: 46
XLKI Sortino Ratio Rank: 43
XLKI Omega Ratio Rank: 47
XLKI Calmar Ratio Rank: 57
XLKI Martin Ratio Rank: 60

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.

LOUP vs. XLKI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Deepwater Frontier Tech ETF (LOUP) and State Street Technology Select Sector SPDR Premium Income ETF (XLKI). 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.

	LOUP	XLKI	Difference
Sharpe ratio: Return per unit of total volatility	1.05	1.13	-0.09
Sortino ratio: Return per unit of downside risk	1.54	1.61	-0.07
Omega ratio: Gain probability vs. loss probability	1.18	1.22	-0.03
Calmar ratio: Return relative to maximum drawdown	1.55	2.02	-0.46
Martin ratio: Return relative to average drawdown	4.59	7.10	-2.51

LOUP vs. XLKI - Sharpe Ratio Comparison

The current LOUP Sharpe Ratio is 1.05, which is comparable to the XLKI Sharpe Ratio of 1.13. The chart below compares the historical Sharpe Ratios of LOUP and XLKI, 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

LOUP vs. XLKI - Drawdown Comparison

The maximum LOUP drawdown since its inception was -58.68%, which is greater than XLKI's maximum drawdown of -11.21%. Use the drawdown chart below to compare losses from any high point for LOUP and XLKI.

Drawdown Indicators

	LOUP	XLKI	Difference
Max Drawdown Largest peak-to-trough decline	-58.68%	-11.21%	-47.47%
Max Drawdown (1Y) Largest decline over 1 year	-21.00%	-11.21%	-9.79%
Max Drawdown (3Y) Largest decline over 3 years	-35.23%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-55.63%	—	—
Current Drawdown Current decline from peak	-14.75%	-6.73%	-8.02%
Average Drawdown Average peak-to-trough decline	-19.79%	-2.16%	-17.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.09%	3.18%	+3.91%

Volatility

LOUP vs. XLKI - Volatility Comparison

Innovator Deepwater Frontier Tech ETF (LOUP) has a higher volatility of 9.47% compared to State Street Technology Select Sector SPDR Premium Income ETF (XLKI) at 8.68%. This indicates that LOUP's price experiences larger fluctuations and is considered to be riskier than XLKI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LOUP	XLKI	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.47%	8.68%	+0.79%
Volatility (6M) Calculated over the trailing 6-month period	25.04%	17.55%	+7.49%
Volatility (1Y) Calculated over the trailing 1-year period	31.22%	19.96%	+11.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.84%	19.92%	+12.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.07%	19.92%	+12.15%

LOUP vs. XLKI - Expense Ratio Comparison

LOUP has a 0.70% expense ratio, which is higher than XLKI's 0.35% expense ratio.

Dividends

LOUP vs. XLKI - Dividend Comparison

LOUP has not paid dividends to shareholders, while XLKI's dividend yield for the trailing twelve months is around 17.91%.

Position	TTM	2025
LOUP Innovator Deepwater Frontier Tech ETF	0.00%	0.00%
XLKI State Street Technology Select Sector SPDR Premium Income ETF	17.91%	8.52%

Frequently Asked Questions

Can I hold both LOUP and XLKI in my portfolio?

LOUP and XLKI have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LOUP or XLKI?

LOUP has higher volatility (9.47%) compared to XLKI (8.68%). In terms of maximum drawdown, LOUP dropped -58.68% vs XLKI's -11.21%.

Which ETF is better, LOUP or XLKI?

On 1-year performance, LOUP leads with 37.12% vs 24.59% for XLKI. On fees, XLKI is cheaper at 0.35% per year. On volatility, XLKI has been the lower-risk option at 8.68%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LOUP or XLKI?

Over the 1-year period, LOUP has performed better with a 37.12% return vs 24.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LOUP or XLKI?

XLKI is cheaper with a 0.35% expense ratio, compared with 0.70% for LOUP.

Which ETF pays a higher dividend yield, LOUP or XLKI?

XLKI has the higher dividend yield at 17.91%, compared with 0.00% for LOUP.

What is the main difference between LOUP and XLKI?

They also come from different issuers: Innovator and State Street. Their fees differ too: 0.70% for LOUP and 0.35% for XLKI.

Which has better risk-adjusted returns?

XLKI currently has the higher Sharpe Ratio (1.13 vs 1.05), 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.