SPSC vs. XLK

Last updated Apr 2, 2026

Compare and contrast key facts about SPS Commerce, Inc. (SPSC) and State Street Technology Select Sector SPDR ETF (XLK).

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.

Performance

SPSC vs. XLK - Performance Comparison

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

SPSC vs. XLK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPSC SPS Commerce, Inc.	-36.91%	-51.56%	-5.08%	50.93%	-9.78%	31.09%	95.94%	34.55%	69.54%	-30.48%
XLK State Street Technology Select Sector SPDR ETF	-6.18%	24.61%	21.63%	56.02%	-27.73%	34.74%	43.62%	49.86%	-1.68%	34.26%

Returns By Period

In the year-to-date period, SPSC achieves a -36.91% return, which is significantly lower than XLK's -6.18% return. Over the past 10 years, SPSC has underperformed XLK with an annualized return of 10.20%, while XLK has yielded a comparatively higher 21.00% annualized return.

SPSC

• 1D: 1.01%
• 1M: -3.73%
• YTD: -36.91%
• 6M: -45.60%
• 1Y: -58.12%
• 3Y*: -28.26%
• 5Y*: -11.36%
• 10Y*: 10.20%

XLK

• 1D: 1.51%
• 1M: -3.20%
• YTD: -6.18%
• 6M: -4.94%
• 1Y: 30.47%
• 3Y*: 22.19%
• 5Y*: 15.65%
• 10Y*: 21.00%

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

Return for Risk

SPSC vs. XLK — Risk / Return Rank

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

SPSC

SPSC Risk / Return Rank: 4
SPSC Sharpe Ratio Rank: 2
SPSC Sortino Ratio Rank: 3
SPSC Omega Ratio Rank: 2
SPSC Calmar Ratio Rank: 7
SPSC Martin Ratio Rank: 6

XLK

XLK Risk / Return Rank: 65
XLK Sharpe Ratio Rank: 62
XLK Sortino Ratio Rank: 65
XLK Omega Ratio Rank: 63
XLK Calmar Ratio Rank: 73
XLK Martin Ratio Rank: 62

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.

SPSC vs. XLK - Risk-Adjusted Trends Comparison

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

	SPSC	XLK	Difference
Sharpe ratio Return per unit of total volatility	-1.22	1.13	-2.36
Sortino ratio Return per unit of downside risk	-1.85	1.71	-3.55
Omega ratio Gain probability vs. loss probability	0.73	1.24	-0.51
Calmar ratio Return relative to maximum drawdown	-0.89	1.97	-2.87
Martin ratio Return relative to average drawdown	-1.61	6.31	-7.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPSC vs. XLK - Sharpe Ratio Comparison

The current SPSC Sharpe Ratio is -1.22, which is lower than the XLK Sharpe Ratio of 1.13. The chart below compares the historical Sharpe Ratios of SPSC and XLK, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SPSC	XLK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.22	1.13	-2.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.29	0.64	-0.93
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.28	0.87	-0.59
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.36	+0.02

Correlation

The correlation between SPSC and XLK is 0.49, 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

SPSC vs. XLK - Dividend Comparison

SPSC has not paid dividends to shareholders, while XLK's dividend yield for the trailing twelve months is around 0.57%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPSC SPS Commerce, 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	0.57%	0.54%	0.66%	0.76%	1.04%	0.65%	0.92%	1.16%	1.60%	1.37%	1.74%	1.79%

Drawdowns

SPSC vs. XLK - Drawdown Comparison

The maximum SPSC drawdown since its inception was -74.87%, smaller than the maximum XLK drawdown of -82.05%. Use the drawdown chart below to compare losses from any high point for SPSC and XLK.

Drawdown Indicators

	SPSC	XLK	Difference
Max Drawdown Largest peak-to-trough decline	-74.87%	-82.05%	+7.18%
Max Drawdown (1Y) Largest decline over 1 year	-64.54%	-15.92%	-48.62%
Max Drawdown (5Y) Largest decline over 5 years	-74.87%	-33.56%	-41.31%
Max Drawdown (10Y) Largest decline over 10 years	-74.87%	-33.56%	-41.31%
Current Drawdown Current decline from peak	-73.90%	-11.04%	-62.86%
Average Drawdown Average peak-to-trough decline	-16.49%	-35.17%	+18.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	35.76%	4.98%	+30.78%

Volatility

SPSC vs. XLK - Volatility Comparison

SPS Commerce, Inc. (SPSC) has a higher volatility of 9.93% compared to State Street Technology Select Sector SPDR ETF (XLK) at 8.12%. This indicates that SPSC'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

	SPSC	XLK	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.93%	8.12%	+1.81%
Volatility (6M) Calculated over the trailing 6-month period	34.02%	16.49%	+17.53%
Volatility (1Y) Calculated over the trailing 1-year period	47.64%	27.05%	+20.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.79%	24.72%	+14.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.10%	24.33%	+12.77%