PTF vs. XLK

Last updated Jun 6, 2026

PTF (Invesco DWA Technology Momentum ETF) and XLK (State Street Technology Select Sector SPDR ETF) are both exchange-traded funds - PTF is a Momentum fund tracking the DWA Technology Technical Leaders Index, while XLK is a Technology Equities fund tracking the S&P Technology Select Sector Daily Capped 35/20 Index. Both are passively managed. Over the past 10 years, PTF returned 25.41%/yr vs 24.71%/yr for XLK. Their correlation of 0.80 suggests significant overlap in exposure. PTF charges 0.60%/yr vs 0.08%/yr for XLK.

Performance

PTF vs. XLK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco DWA Technology Momentum ETF (PTF) 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, PTF achieves a 59.22% return, which is significantly higher than XLK's 25.39% return. Both investments have delivered pretty close results over the past 10 years, with PTF having a 25.41% annualized return and XLK not far behind at 24.71%.

PTF

• 1D: -9.36%
• 1M: 0.09%
• YTD: 59.22%
• 6M: 51.31%
• 1Y: 85.38%
• 3Y*: 37.88%
• 5Y*: 21.11%
• 10Y*: 25.41%

XLK

• 1D: -6.66%
• 1M: 6.04%
• YTD: 25.39%
• 6M: 23.33%
• 1Y: 53.58%
• 3Y*: 30.43%
• 5Y*: 21.75%
• 10Y*: 24.71%

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

PTF vs. XLK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PTF Invesco DWA Technology Momentum ETF	59.22%	5.68%	43.65%	33.73%	-31.75%	18.10%	82.06%	46.71%	0.01%	32.07%
XLK State Street Technology Select Sector SPDR ETF	25.39%	24.61%	21.63%	56.02%	-27.73%	34.74%	43.62%	49.86%	-1.68%	34.26%

Correlation

The correlation between PTF and XLK is 0.78, 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	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.81
Correlation (All Time) Calculated using the full available price history since Oct 13, 2006	0.80

The correlation between PTF and XLK has been stable across timeframes, ranging from 0.78 to 0.84 - a consistent structural relationship.

PTF vs. XLK - Sectors Allocation Comparison

Sectors	PTF	XLK
Technology	92.9%	99.7%
Communication Services	5.8%	-
Industrials	1.8%	0.1%
Energy	1.6%	0.2%
Financial Services	1.4%	-
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

PTF vs. XLK — Risk / Return Rank

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

PTF

PTF Risk / Return Rank: 71
PTF Sharpe Ratio Rank: 68
PTF Sortino Ratio Rank: 55
PTF Omega Ratio Rank: 60
PTF Calmar Ratio Rank: 87
PTF Martin Ratio Rank: 88

XLK

XLK Risk / Return Rank: 69
XLK Sharpe Ratio Rank: 77
XLK Sortino Ratio Rank: 66
XLK Omega Ratio Rank: 70
XLK Calmar Ratio Rank: 69
XLK Martin Ratio Rank: 63

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.

PTF vs. XLK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco DWA Technology Momentum ETF (PTF) 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.

	PTF	XLK	Difference
Sharpe ratio: Return per unit of total volatility	2.17	2.45	-0.29
Sortino ratio: Return per unit of downside risk	2.54	2.98	-0.44
Omega ratio: Gain probability vs. loss probability	1.35	1.41	-0.05
Calmar ratio: Return relative to maximum drawdown	4.77	3.38	+1.39
Martin ratio: Return relative to average drawdown	18.80	11.25	+7.55
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PTF vs. XLK - Sharpe Ratio Comparison

The current PTF Sharpe Ratio is 2.17, which is comparable to the XLK Sharpe Ratio of 2.45. The chart below compares the historical Sharpe Ratios of PTF 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

	PTF	XLK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.17	2.45	-0.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.60	0.87	-0.27
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.77	1.01	-0.24
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.40	+0.11

Drawdowns

PTF vs. XLK - Drawdown Comparison

The maximum PTF drawdown since its inception was -55.38%, smaller than the maximum XLK drawdown of -82.05%. Use the drawdown chart below to compare losses from any high point for PTF and XLK.

Drawdown Indicators

	PTF	XLK	Difference
Max Drawdown Largest peak-to-trough decline	-55.38%	-82.05%	+26.67%
Max Drawdown (1Y) Largest decline over 1 year	-17.99%	-15.92%	-2.07%
Max Drawdown (3Y) Largest decline over 3 years	-36.11%	-25.66%	-10.45%
Max Drawdown (5Y) Largest decline over 5 years	-44.88%	-33.56%	-11.32%
Max Drawdown (10Y) Largest decline over 10 years	-44.88%	-33.56%	-11.32%
Current Drawdown Current decline from peak	-10.34%	-9.04%	-1.30%
Average Drawdown Average peak-to-trough decline	-13.27%	-34.95%	+21.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.56%	4.78%	-0.22%

Volatility

PTF vs. XLK - Volatility Comparison

Invesco DWA Technology Momentum ETF (PTF) has a higher volatility of 16.48% compared to State Street Technology Select Sector SPDR ETF (XLK) at 10.28%. This indicates that PTF's price experiences larger fluctuations and is considered to be riskier than XLK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PTF	XLK	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.48%	10.28%	+6.20%
Volatility (6M) Calculated over the trailing 6-month period	31.22%	18.21%	+13.01%
Volatility (1Y) Calculated over the trailing 1-year period	39.61%	21.96%	+17.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.18%	25.07%	+10.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.07%	24.59%	+8.48%

PTF vs. XLK - Expense Ratio Comparison

PTF has a 0.60% expense ratio, which is higher than XLK's 0.08% expense ratio.

Dividends

PTF vs. XLK - Dividend Comparison

PTF's dividend yield for the trailing twelve months is around 0.01%, less than XLK's 0.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PTF Invesco DWA Technology Momentum ETF	0.01%	0.21%	0.00%	0.07%	0.00%	0.00%	0.00%	0.00%	0.08%	0.04%	0.26%	0.00%
XLK State Street Technology Select Sector SPDR ETF	0.42%	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 PTF and XLK in my portfolio?

PTF and XLK have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PTF or XLK?

PTF has higher volatility (16.48%) compared to XLK (10.28%). In terms of maximum drawdown, PTF dropped -55.38% vs XLK's -82.05%.

Which ETF is better, PTF or XLK?

On 10-year performance, PTF leads with 25.41% vs 24.71% for XLK. On fees, XLK is cheaper at 0.08% per year. On volatility, XLK has been the lower-risk option at 10.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PTF or XLK?

Over the 10-year period, PTF has performed better with a 25.41% return vs 24.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PTF or XLK?

XLK is cheaper with a 0.08% expense ratio, compared with 0.60% for PTF.

Which ETF pays a higher dividend yield, PTF or XLK?

XLK has the higher dividend yield at 0.42%, compared with 0.01% for PTF.

What is the main difference between PTF and XLK?

PTF is categorized as Momentum, while XLK is Technology Equities. PTF tracks DWA Technology Technical Leaders Index, while XLK tracks S&P Technology Select Sector Daily Capped 35/20 Index. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.60% for PTF and 0.08% for XLK.

Which has better risk-adjusted returns?

XLK currently has the higher Sharpe Ratio (2.45 vs 2.17), 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.