SPAM vs. XLK
Compare and contrast key facts about Themes Cybersecurity ETF (SPAM) and State Street Technology Select Sector SPDR ETF (XLK).
SPAM and XLK are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPAM is a passively managed fund by Themes that tracks the performance of the Solactive Cyber Security Index - Benchmark TR Net. It was launched on Dec 7, 2023. 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. Both SPAM and XLK are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
SPAM vs. XLK - Performance Comparison
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SPAM vs. XLK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SPAM Themes Cybersecurity ETF | -5.88% | 4.86% | 10.58% | 5.42% |
XLK State Street Technology Select Sector SPDR ETF | -7.57% | 24.61% | 21.63% | 3.35% |
Returns By Period
In the year-to-date period, SPAM achieves a -5.88% return, which is significantly higher than XLK's -7.57% return.
SPAM
- 1D
- 3.78%
- 1M
- 0.69%
- YTD
- -5.88%
- 6M
- -17.32%
- 1Y
- 1.94%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XLK
- 1D
- 4.24%
- 1M
- -4.10%
- YTD
- -7.57%
- 6M
- -5.44%
- 1Y
- 29.46%
- 3Y*
- 21.58%
- 5Y*
- 15.31%
- 10Y*
- 20.82%
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SPAM vs. XLK - Expense Ratio Comparison
SPAM has a 0.35% expense ratio, which is higher than XLK's 0.08% expense ratio.
Return for Risk
SPAM vs. XLK — Risk / Return Rank
SPAM
XLK
SPAM vs. XLK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Themes Cybersecurity ETF (SPAM) 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.
| SPAM | XLK | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.07 | 1.10 | -1.02 |
Sortino ratioReturn per unit of downside risk | 0.29 | 1.66 | -1.38 |
Omega ratioGain probability vs. loss probability | 1.04 | 1.23 | -0.20 |
Calmar ratioReturn relative to maximum drawdown | 0.01 | 1.85 | -1.85 |
Martin ratioReturn relative to average drawdown | 0.02 | 5.98 | -5.97 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPAM | XLK | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.07 | 1.10 | -1.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.62 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.86 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 0.36 | -0.09 |
Correlation
The correlation between SPAM and XLK is 0.65, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
SPAM vs. XLK - Dividend Comparison
SPAM's dividend yield for the trailing twelve months is around 0.52%, less than XLK's 0.57% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPAM Themes Cybersecurity ETF | 0.52% | 0.49% | 0.13% | 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 | 0.57% | 0.54% | 0.66% | 0.76% | 1.04% | 0.65% | 0.92% | 1.16% | 1.60% | 1.37% | 1.74% | 1.79% |
Drawdowns
SPAM vs. XLK - Drawdown Comparison
The maximum SPAM drawdown since its inception was -24.02%, smaller than the maximum XLK drawdown of -82.05%. Use the drawdown chart below to compare losses from any high point for SPAM and XLK.
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Drawdown Indicators
| SPAM | XLK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.02% | -82.05% | +58.03% |
Max Drawdown (1Y)Largest decline over 1 year | -24.02% | -15.92% | -8.10% |
Max Drawdown (5Y)Largest decline over 5 years | — | -33.56% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.56% | — |
Current DrawdownCurrent decline from peak | -20.11% | -12.36% | -7.75% |
Average DrawdownAverage peak-to-trough decline | -6.37% | -35.17% | +28.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.78% | 4.93% | +4.85% |
Volatility
SPAM vs. XLK - Volatility Comparison
Themes Cybersecurity ETF (SPAM) and State Street Technology Select Sector SPDR ETF (XLK) have volatilities of 8.04% and 8.06%, 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.
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Volatility by Period
| SPAM | XLK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.04% | 8.06% | -0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 19.15% | 16.43% | +2.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.80% | 27.02% | -0.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.51% | 24.72% | -1.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.51% | 24.33% | -0.82% |