MAFOX vs. XLK

Last updated Apr 2, 2026

Compare and contrast key facts about BlackRock Large Cap Focus Growth Fund (MAFOX) and State Street Technology Select Sector SPDR ETF (XLK).

MAFOX is managed by BlackRock. It was launched on Mar 3, 2000. XLK is a passively managed fund by State Street that tracks the performance of the S&P Technology Select Sector Daily Capped 35/20 Index. It was launched on Dec 16, 1998.

Performance

MAFOX vs. XLK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Large Cap Focus Growth Fund (MAFOX) and State Street Technology Select Sector SPDR ETF (XLK). The values are adjusted to include any dividend payments, if applicable.

MAFOX vs. XLK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MAFOX BlackRock Large Cap Focus Growth Fund	-9.08%	12.76%	31.11%	52.63%	-38.05%	17.13%	46.85%	31.16%	3.63%	29.90%
XLK State Street Technology Select Sector SPDR ETF	-6.18%	24.61%	21.63%	56.02%	-27.73%	34.74%	43.62%	49.86%	-1.68%	34.26%

Returns By Period

In the year-to-date period, MAFOX achieves a -9.08% return, which is significantly lower than XLK's -6.18% return. Over the past 10 years, MAFOX has underperformed XLK with an annualized return of 15.03%, while XLK has yielded a comparatively higher 21.00% annualized return.

MAFOX

• 1D: 3.91%
• 1M: -5.63%
• YTD: -9.08%
• 6M: -10.43%
• 1Y: 14.14%
• 3Y*: 19.93%
• 5Y*: 8.13%
• 10Y*: 15.03%

XLK

• 1D: 1.51%
• 1M: -3.20%
• YTD: -6.18%
• 6M: -4.94%
• 1Y: 30.47%
• 3Y*: 22.19%
• 5Y*: 15.65%
• 10Y*: 21.00%

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

MAFOX vs. XLK - Expense Ratio Comparison

MAFOX has a 0.67% expense ratio, which is higher than XLK's 0.08% expense ratio.

MAFOX

BlackRock Large Cap Focus Growth Fund

XLK

State Street Technology Select Sector SPDR ETF

Return for Risk

MAFOX vs. XLK — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MAFOX

MAFOX Risk / Return Rank: 27
MAFOX Sharpe Ratio Rank: 23
MAFOX Sortino Ratio Rank: 28
MAFOX Omega Ratio Rank: 25
MAFOX Calmar Ratio Rank: 30
MAFOX Martin Ratio Rank: 27

XLK

XLK Risk / Return Rank: 65
XLK Sharpe Ratio Rank: 62
XLK Sortino Ratio Rank: 65
XLK Omega Ratio Rank: 63
XLK Calmar Ratio Rank: 73
XLK Martin Ratio Rank: 62

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MAFOX vs. XLK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Large Cap Focus Growth Fund (MAFOX) and State Street Technology Select Sector SPDR ETF (XLK). 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.

	MAFOX	XLK	Difference
Sharpe ratio Return per unit of total volatility	0.64	1.13	-0.49
Sortino ratio Return per unit of downside risk	1.10	1.71	-0.60
Omega ratio Gain probability vs. loss probability	1.15	1.24	-0.09
Calmar ratio Return relative to maximum drawdown	0.92	1.97	-1.06
Martin ratio Return relative to average drawdown	3.12	6.31	-3.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MAFOX vs. XLK - Sharpe Ratio Comparison

The current MAFOX Sharpe Ratio is 0.64, which is lower than the XLK Sharpe Ratio of 1.13. The chart below compares the historical Sharpe Ratios of MAFOX and XLK, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MAFOX	XLK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.64	1.13	-0.49
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.35	0.64	-0.29
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.67	0.87	-0.20
Sharpe Ratio (All Time) Calculated using the full available price history	0.08	0.36	-0.28

Correlation

The correlation between MAFOX and XLK is 0.86, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

MAFOX vs. XLK - Dividend Comparison

MAFOX's dividend yield for the trailing twelve months is around 17.63%, more than XLK's 0.57% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MAFOX BlackRock Large Cap Focus Growth Fund	17.63%	16.03%	4.04%	3.05%	2.01%	11.20%	0.53%	5.45%	4.43%	4.06%	0.00%	4.66%
XLK State Street Technology Select Sector SPDR ETF	0.57%	0.54%	0.66%	0.76%	1.04%	0.65%	0.92%	1.16%	1.60%	1.37%	1.74%	1.79%

Drawdowns

MAFOX vs. XLK - Drawdown Comparison

The maximum MAFOX drawdown since its inception was -89.93%, which is greater than XLK's maximum drawdown of -82.05%. Use the drawdown chart below to compare losses from any high point for MAFOX and XLK.

Drawdown Indicators

	MAFOX	XLK	Difference
Max Drawdown Largest peak-to-trough decline	-89.93%	-82.05%	-7.88%
Max Drawdown (1Y) Largest decline over 1 year	-16.70%	-15.92%	-0.78%
Max Drawdown (5Y) Largest decline over 5 years	-42.39%	-33.56%	-8.83%
Max Drawdown (10Y) Largest decline over 10 years	-42.39%	-33.56%	-8.83%
Current Drawdown Current decline from peak	-13.45%	-11.04%	-2.41%
Average Drawdown Average peak-to-trough decline	-54.57%	-35.17%	-19.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.92%	4.98%	-0.06%

Volatility

MAFOX vs. XLK - Volatility Comparison

The current volatility for BlackRock Large Cap Focus Growth Fund (MAFOX) is 7.48%, while State Street Technology Select Sector SPDR ETF (XLK) has a volatility of 8.12%. This indicates that MAFOX experiences smaller price fluctuations and is considered to be less risky than XLK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MAFOX	XLK	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.48%	8.12%	-0.64%
Volatility (6M) Calculated over the trailing 6-month period	13.96%	16.49%	-2.53%
Volatility (1Y) Calculated over the trailing 1-year period	23.71%	27.05%	-3.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.61%	24.72%	-1.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.61%	24.33%	-1.72%