NVR vs. XLK

Last updated Jun 4, 2026

NVR (NVR, Inc.) is a stock, while XLK (State Street Technology Select Sector SPDR ETF) is Technology Equities fund tracking the S&P Technology Select Sector Daily Capped 35/20 Index. Over the past 10 years, NVR returned 13.55%/yr vs 25.84%/yr for XLK. At a 0.37 correlation, their price movements are largely independent.

Performance

NVR vs. XLK - Performance Comparison

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

Returns By Period

In the year-to-date period, NVR achieves a -16.09% return, which is significantly lower than XLK's 36.47% return. Over the past 10 years, NVR has underperformed XLK with an annualized return of 13.55%, while XLK has yielded a comparatively higher 25.84% annualized return.

NVR

• 1D: -1.00%
• 1M: 3.16%
• YTD: -16.09%
• 6M: -20.31%
• 1Y: -13.43%
• 3Y*: 2.33%
• 5Y*: 4.93%
• 10Y*: 13.55%

XLK

• 1D: -1.00%
• 1M: 21.09%
• YTD: 36.47%
• 6M: 35.71%
• 1Y: 66.93%
• 3Y*: 33.90%
• 5Y*: 23.83%
• 10Y*: 25.84%

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

NVR vs. XLK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NVR NVR, Inc.	-16.09%	-10.83%	16.83%	51.77%	-21.94%	44.83%	7.13%	56.28%	-30.53%	110.20%
XLK State Street Technology Select Sector SPDR ETF	36.47%	24.61%	21.63%	56.02%	-27.73%	34.74%	43.62%	49.86%	-1.68%	34.26%

Correlation

The correlation between NVR and XLK is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.06
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (5Y) Calculated over the trailing 5-year period	0.38
Correlation (10Y) Calculated over the trailing 10-year period	0.35
Correlation (All Time) Calculated using the full available price history since Dec 23, 1998	0.37

Over the past year, the correlation between NVR and XLK has dropped to 0.06 - well below their long-term average of 0.37, suggesting their price drivers have been diverging.

Return for Risk

NVR vs. XLK — Risk / Return Rank

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

NVR

NVR Risk / Return Rank: 21
NVR Sharpe Ratio Rank: 19
NVR Sortino Ratio Rank: 18
NVR Omega Ratio Rank: 19
NVR Calmar Ratio Rank: 27
NVR Martin Ratio Rank: 23

XLK

XLK Risk / Return Rank: 83
XLK Sharpe Ratio Rank: 91
XLK Sortino Ratio Rank: 85
XLK Omega Ratio Rank: 83
XLK Calmar Ratio Rank: 80
XLK Martin Ratio Rank: 73

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.

NVR vs. XLK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NVR, Inc. (NVR) 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.

	NVR	XLK	Difference
Sharpe ratio: Return per unit of total volatility	-0.50	3.24	-3.73
Sortino ratio: Return per unit of downside risk	-0.56	3.92	-4.49
Omega ratio: Gain probability vs. loss probability	0.94	1.52	-0.58
Calmar ratio: Return relative to maximum drawdown	-0.39	4.22	-4.61
Martin ratio: Return relative to average drawdown	-0.89	14.16	-15.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NVR vs. XLK - Sharpe Ratio Comparison

The current NVR Sharpe Ratio is -0.50, which is lower than the XLK Sharpe Ratio of 3.24. The chart below compares the historical Sharpe Ratios of NVR and XLK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NVR	XLK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.50	3.24	-3.73
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.18	0.96	-0.78
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.43	1.06	-0.63
Sharpe Ratio (All Time) Calculated using the full available price history	0.05	0.42	-0.37

Drawdowns

NVR vs. XLK - Drawdown Comparison

The maximum NVR drawdown since its inception was -96.47%, which is greater than XLK's maximum drawdown of -82.05%. Use the drawdown chart below to compare losses from any high point for NVR and XLK.

Drawdown Indicators

	NVR	XLK	Difference
Max Drawdown Largest peak-to-trough decline	-96.47%	-82.05%	-14.42%
Max Drawdown (1Y) Largest decline over 1 year	-34.88%	-15.92%	-18.96%
Max Drawdown (3Y) Largest decline over 3 years	-43.94%	-25.66%	-18.28%
Max Drawdown (5Y) Largest decline over 5 years	-43.94%	-33.56%	-10.38%
Max Drawdown (10Y) Largest decline over 10 years	-46.13%	-33.56%	-12.57%
Current Drawdown Current decline from peak	-38.34%	-1.00%	-37.34%
Average Drawdown Average peak-to-trough decline	-23.55%	-34.96%	+11.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.15%	4.74%	+10.41%

Volatility

NVR vs. XLK - Volatility Comparison

NVR, Inc. (NVR) and State Street Technology Select Sector SPDR ETF (XLK) have volatilities of 6.92% and 6.98%, 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

	NVR	XLK	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.92%	6.98%	-0.06%
Volatility (6M) Calculated over the trailing 6-month period	19.94%	16.68%	+3.26%
Volatility (1Y) Calculated over the trailing 1-year period	27.24%	20.82%	+6.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.54%	24.90%	+2.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.94%	24.49%	+7.45%

Dividends

NVR vs. XLK - Dividend Comparison

NVR has not paid dividends to shareholders, while XLK's dividend yield for the trailing twelve months is around 0.39%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NVR NVR, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XLK State Street Technology Select Sector SPDR ETF	0.39%	0.54%	0.66%	0.76%	1.04%	0.65%	0.92%	1.16%	1.60%	1.37%	1.74%	1.79%

Frequently Asked Questions

Can I hold both NVR and XLK in my portfolio?

NVR and XLK have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NVR or XLK?

XLK has higher volatility (6.98%) compared to NVR (6.92%). In terms of maximum drawdown, NVR dropped -96.47% vs XLK's -82.05%.

Which has better risk-adjusted returns?

XLK currently has the higher Sharpe Ratio (3.24 vs -0.49), 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.