QQH vs. XLK

Last updated Jun 4, 2026

QQH (HCM Defender 100 Index ETF) and XLK (State Street Technology Select Sector SPDR ETF) are both Technology Equities funds - QQH tracks the HCM Defender 100 Index while XLK tracks the S&P Technology Select Sector Daily Capped 35/20 Index. Both are passively managed. Over the past 5 years, QQH returned 15.09%/yr vs 23.83%/yr for XLK. Their correlation of 0.90 suggests significant overlap in exposure. QQH charges 1.14%/yr vs 0.08%/yr for XLK.

Performance

QQH vs. XLK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in HCM Defender 100 Index ETF (QQH) 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, QQH achieves a 14.78% return, which is significantly lower than XLK's 36.47% return.

QQH

• 1D: -0.56%
• 1M: 14.19%
• YTD: 14.78%
• 6M: 12.39%
• 1Y: 40.27%
• 3Y*: 26.06%
• 5Y*: 15.09%
• 10Y*: —

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)

QQH vs. XLK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
QQH HCM Defender 100 Index ETF	14.78%	15.66%	33.64%	48.05%	-39.60%	37.52%	41.71%	15.13%
XLK State Street Technology Select Sector SPDR ETF	36.47%	24.61%	21.63%	56.02%	-27.73%	34.74%	43.62%	14.30%

Correlation

The correlation between QQH and XLK is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (All Time) Calculated using the full available price history since Oct 11, 2019	0.90

The correlation between QQH and XLK has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.

QQH vs. XLK - Sectors Allocation Comparison

Sectors	QQH	XLK
Technology	56.6%	99.7%
Communication Services	14.9%	-
Consumer Cyclical	13.6%	-
Consumer Defensive	6.3%	-
Healthcare	3.5%	-
Industrials	2.2%	0.1%
Utilities	1.2%	-
Basic Materials	1.0%	-
Energy	0.5%	0.2%
Financial Services	0.2%	-
Real Estate	0.0%	-

Return for Risk

QQH vs. XLK — Risk / Return Rank

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

QQH

QQH Risk / Return Rank: 51
QQH Sharpe Ratio Rank: 58
QQH Sortino Ratio Rank: 51
QQH Omega Ratio Rank: 52
QQH Calmar Ratio Rank: 50
QQH Martin Ratio Rank: 42

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.

QQH vs. XLK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HCM Defender 100 Index ETF (QQH) 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.

	QQH	XLK	Difference
Sharpe ratio: Return per unit of total volatility	1.97	3.24	-1.27
Sortino ratio: Return per unit of downside risk	2.53	3.92	-1.39
Omega ratio: Gain probability vs. loss probability	1.33	1.52	-0.19
Calmar ratio: Return relative to maximum drawdown	2.50	4.22	-1.72
Martin ratio: Return relative to average drawdown	6.81	14.16	-7.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QQH vs. XLK - Sharpe Ratio Comparison

The current QQH Sharpe Ratio is 1.97, which is lower than the XLK Sharpe Ratio of 3.24. The chart below compares the historical Sharpe Ratios of QQH 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

	QQH	XLK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.97	3.24	-1.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	0.96	-0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.06	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.85	0.42	+0.44

Drawdowns

QQH vs. XLK - Drawdown Comparison

The maximum QQH drawdown since its inception was -41.87%, smaller than the maximum XLK drawdown of -82.05%. Use the drawdown chart below to compare losses from any high point for QQH and XLK.

Drawdown Indicators

	QQH	XLK	Difference
Max Drawdown Largest peak-to-trough decline	-41.87%	-82.05%	+40.18%
Max Drawdown (1Y) Largest decline over 1 year	-16.18%	-15.92%	-0.26%
Max Drawdown (3Y) Largest decline over 3 years	-24.84%	-25.66%	+0.82%
Max Drawdown (5Y) Largest decline over 5 years	-41.87%	-33.56%	-8.31%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.56%	—
Current Drawdown Current decline from peak	-0.56%	-1.00%	+0.44%
Average Drawdown Average peak-to-trough decline	-12.94%	-34.96%	+22.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.93%	4.74%	+1.19%

Volatility

QQH vs. XLK - Volatility Comparison

The current volatility for HCM Defender 100 Index ETF (QQH) is 6.03%, while State Street Technology Select Sector SPDR ETF (XLK) has a volatility of 6.98%. This indicates that QQH 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

	QQH	XLK	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.03%	6.98%	-0.95%
Volatility (6M) Calculated over the trailing 6-month period	14.47%	16.68%	-2.21%
Volatility (1Y) Calculated over the trailing 1-year period	20.57%	20.82%	-0.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.51%	24.90%	-3.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.73%	24.49%	+0.24%

QQH vs. XLK - Expense Ratio Comparison

QQH has a 1.14% expense ratio, which is higher than XLK's 0.08% expense ratio.

Dividends

QQH vs. XLK - Dividend Comparison

QQH's dividend yield for the trailing twelve months is around 0.18%, less than XLK's 0.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QQH HCM Defender 100 Index ETF	0.18%	0.21%	0.24%	0.27%	0.00%	0.00%	0.00%	0.21%	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 QQH and XLK in my portfolio?

With a correlation of 0.91, QQH and XLK move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, QQH or XLK?

XLK has higher volatility (6.98%) compared to QQH (6.03%). In terms of maximum drawdown, QQH dropped -41.87% vs XLK's -82.05%.

Which ETF is better, QQH or XLK?

On 5-year performance, XLK leads with 23.83% vs 15.09% for QQH. On fees, XLK is cheaper at 0.08% per year. On volatility, QQH has been the lower-risk option at 6.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQH or XLK?

Over the 5-year period, XLK has performed better with a 23.83% return vs 15.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQH or XLK?

XLK is cheaper with a 0.08% expense ratio, compared with 1.14% for QQH.

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

XLK has the higher dividend yield at 0.39%, compared with 0.18% for QQH.

What is the main difference between QQH and XLK?

QQH tracks HCM Defender 100 Index, while XLK tracks S&P Technology Select Sector Daily Capped 35/20 Index. They also come from different issuers: Howard Capital Management and State Street. Their fees differ too: 1.14% for QQH and 0.08% for XLK.

Which has better risk-adjusted returns?

XLK currently has the higher Sharpe Ratio (3.24 vs 1.97), 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.