NXTG.L vs. GXLK.L

Last updated Jul 18, 2026

NXTG.L (First Trust Indxx NextG UCITS ETF USD (Acc)) and GXLK.L (SPDR S&P US Technology Select Sector UCITS ETF) are both Technology Equities funds - NXTG.L tracks the Indxx 5G & NextG Thematic Index while GXLK.L tracks the MSCI World/Information Tech NR USD. Both are passively managed. Over the past 10 years, NXTG.L returned 6.30%/yr vs 19.60%/yr for GXLK.L. At a 0.47 correlation, their price movements are largely independent. NXTG.L charges 0.70%/yr vs 0.15%/yr for GXLK.L.

Performance

NXTG.L vs. GXLK.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in First Trust Indxx NextG UCITS ETF USD (Acc) (NXTG.L) and SPDR S&P US Technology Select Sector UCITS ETF (GXLK.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

NXTG.L is traded in GBp, while GXLK.L is traded in GBP. To make them comparable, the GXLK.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, NXTG.L achieves a 33.02% return, which is significantly higher than GXLK.L's 15.77% return. Over the past 10 years, NXTG.L has underperformed GXLK.L with an annualized return of 6.30%, while GXLK.L has yielded a comparatively higher 19.60% annualized return.

NXTG.L

• 1D: -1.06%
• 1M: -8.46%
• 6M: 28.75%
• YTD: 33.02%
• 1Y: 48.28%
• 3Y*: 14.91%
• 5Y*: 8.92%
• 10Y*: 6.30%

GXLK.L

• 1D: 0.00%
• 1M: -3.25%
• 6M: 16.40%
• YTD: 15.77%
• 1Y: 28.68%
• 3Y*: 23.35%
• 5Y*: 11.22%
• 10Y*: 19.60%

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

NXTG.L vs. GXLK.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NXTG.L First Trust Indxx NextG UCITS ETF USD (Acc)	33.02%	19.23%	14.96%	0.29%	-24.39%	15.88%	4.17%	8.33%	-27.67%	22.13%
GXLK.L SPDR S&P US Technology Select Sector UCITS ETF	15.77%	15.88%	24.73%	48.31%	-40.75%	34.21%	43.38%	49.62%	-1.81%	33.90%

Correlation

The correlation between NXTG.L and GXLK.L is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (10Y) Calculated over the trailing 10-year period	0.51
Correlation (All Time) Calculated using the full available price history since Jul 7, 2015	0.47

Over the past year, NXTG.L and GXLK.L have become more correlated (0.74) than their long-term average of 0.47, meaning their price movements have been converging.

Return for Risk

NXTG.L vs. GXLK.L — Risk / Return Rank

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

NXTG.L

NXTG.L Risk / Return Rank: 51
NXTG.L Sharpe Ratio Rank: 37
NXTG.L Sortino Ratio Rank: 46
NXTG.L Omega Ratio Rank: 89
NXTG.L Calmar Ratio Rank: 49
NXTG.L Martin Ratio Rank: 35

GXLK.L

GXLK.L Risk / Return Rank: 44
GXLK.L Sharpe Ratio Rank: 49
GXLK.L Sortino Ratio Rank: 46
GXLK.L Omega Ratio Rank: 45
GXLK.L Calmar Ratio Rank: 42
GXLK.L Martin Ratio Rank: 35

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.

NXTG.L vs. GXLK.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Indxx NextG UCITS ETF USD (Acc) (NXTG.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.

	NXTG.L	GXLK.L	Difference
Sharpe ratio: Return per unit of total volatility	1.03	1.34	-0.32
Sortino ratio: Return per unit of downside risk	1.78	1.87	-0.09
Omega ratio: Gain probability vs. loss probability	1.43	1.24	+0.19
Calmar ratio: Return relative to maximum drawdown	1.89	1.73	+0.16
Martin ratio: Return relative to average drawdown	3.93	4.13	-0.20

NXTG.L vs. GXLK.L - Sharpe Ratio Comparison

The current NXTG.L Sharpe Ratio is 1.03, which is comparable to the GXLK.L Sharpe Ratio of 1.34. The chart below compares the historical Sharpe Ratios of NXTG.L and GXLK.L, 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

NXTG.L vs. GXLK.L - Drawdown Comparison

The maximum NXTG.L drawdown since its inception was -45.94%, which is greater than GXLK.L's maximum drawdown of -43.09%. Use the drawdown chart below to compare losses from any high point for NXTG.L and GXLK.L.

Drawdown Indicators

	NXTG.L	GXLK.L	Difference
Max Drawdown Largest peak-to-trough decline	-45.94%	-43.09%	-2.85%
Max Drawdown (1Y) Largest decline over 1 year	-25.38%	-16.67%	-8.71%
Max Drawdown (3Y) Largest decline over 3 years	-31.89%	-28.24%	-3.65%
Max Drawdown (5Y) Largest decline over 5 years	-32.91%	-43.09%	+10.18%
Max Drawdown (10Y) Largest decline over 10 years	-45.94%	-43.09%	-2.85%
Current Drawdown Current decline from peak	-13.62%	-8.76%	-4.86%
Average Drawdown Average peak-to-trough decline	-19.85%	-8.58%	-11.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.24%	6.96%	+5.28%

Volatility

NXTG.L vs. GXLK.L - Volatility Comparison

The current volatility for First Trust Indxx NextG UCITS ETF USD (Acc) (NXTG.L) is 6.64%, while SPDR S&P US Technology Select Sector UCITS ETF (GXLK.L) has a volatility of 7.44%. This indicates that NXTG.L experiences smaller price fluctuations and is considered to be less risky than GXLK.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NXTG.L	GXLK.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.64%	7.44%	-0.80%
Volatility (6M) Calculated over the trailing 6-month period	15.87%	16.39%	-0.52%
Volatility (1Y) Calculated over the trailing 1-year period	46.86%	21.54%	+25.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.04%	24.58%	+18.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.81%	24.32%	+8.49%

NXTG.L vs. GXLK.L - Expense Ratio Comparison

NXTG.L has a 0.70% expense ratio, which is higher than GXLK.L's 0.15% expense ratio.

Dividends

NXTG.L vs. GXLK.L - Dividend Comparison

Neither NXTG.L nor GXLK.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both NXTG.L and GXLK.L in my portfolio?

NXTG.L and GXLK.L have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NXTG.L or GXLK.L?

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.

Which ETF is cheaper, NXTG.L or GXLK.L?

GXLK.L is cheaper with a 0.15% expense ratio, compared with 0.70% for NXTG.L.

What is the main difference between NXTG.L and GXLK.L?

NXTG.L tracks Indxx 5G & NextG Thematic Index, while GXLK.L tracks MSCI World/Information Tech NR USD. They also come from different issuers: First Trust and State Street. Their fees differ too: 0.70% for NXTG.L and 0.15% for GXLK.L.