TECW.L vs. GXLK.L
TECW.L (SPDR MSCI World Technology UCITS ETF) and GXLK.L (SPDR S&P US Technology Select Sector UCITS ETF) are both Technology Equities funds from State Street tracking the MSCI World/Information Tech NR USD. Both are passively managed. Over the past 3 years, TECW.L returned 29.52%/yr vs 26.51%/yr for GXLK.L. With a 0.98 correlation, they move nearly in lockstep. TECW.L charges 0.30%/yr vs 0.15%/yr for GXLK.L.
Performance
TECW.L vs. GXLK.L - Performance Comparison
Loading charts...
Returns By Period
The year-to-date returns for both stocks are quite close, with TECW.L having a 24.30% return and GXLK.L slightly lower at 23.38%.
TECW.L
- 1D
- -1.91%
- 1M
- 15.12%
- YTD
- 24.30%
- 6M
- 22.78%
- 1Y
- 52.52%
- 3Y*
- 29.52%
- 5Y*
- —
- 10Y*
- —
GXLK.L
- 1D
- -2.05%
- 1M
- 14.24%
- YTD
- 23.38%
- 6M
- 22.20%
- 1Y
- 53.75%
- 3Y*
- 26.51%
- 5Y*
- —
- 10Y*
- —
TECW.L vs. GXLK.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TECW.L SPDR MSCI World Technology UCITS ETF | 24.30% | 13.84% | 36.32% | 46.35% | -17.74% |
GXLK.L SPDR S&P US Technology Select Sector UCITS ETF | 23.38% | 15.88% | 24.73% | 48.31% | -16.12% |
Correlation
The correlation between TECW.L and GXLK.L is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2022 | 0.98 |
The correlation between TECW.L and GXLK.L has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
TECW.L vs. GXLK.L — Risk / Return Rank
TECW.L
GXLK.L
TECW.L vs. GXLK.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI World Technology UCITS ETF (TECW.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.
| TECW.L | GXLK.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.46 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.14 | 3.21 | -0.07 |
| Martin ratioReturn relative to average drawdown | 8.04 | 8.20 | -0.16 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| TECW.L | GXLK.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.71 | 2.77 | -0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.02 | 0.79 | +0.23 |
Drawdowns
TECW.L vs. GXLK.L - Drawdown Comparison
The maximum TECW.L drawdown since its inception was -28.26%, roughly equal to the maximum GXLK.L drawdown of -28.24%. Use the drawdown chart below to compare losses from any high point for TECW.L and GXLK.L.
Loading charts...
Drawdown Indicators
| TECW.L | GXLK.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.26% | -28.24% | -0.02% |
Max Drawdown (1Y)Largest decline over 1 year | -16.66% | -16.67% | +0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -28.26% | -28.24% | -0.02% |
Current DrawdownCurrent decline from peak | -2.33% | -2.76% | +0.43% |
Average DrawdownAverage peak-to-trough decline | -6.15% | -7.64% | +1.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.52% | 6.54% | -0.02% |
Volatility
TECW.L vs. GXLK.L - Volatility Comparison
SPDR MSCI World Technology UCITS ETF (TECW.L) and SPDR S&P US Technology Select Sector UCITS ETF (GXLK.L) have volatilities of 6.85% and 6.90%, 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.
Loading charts...
Volatility by Period
| TECW.L | GXLK.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.85% | 6.90% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 14.32% | 14.09% | +0.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.31% | 19.32% | -0.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.01% | 26.83% | -4.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.01% | 26.83% | -4.82% |
TECW.L vs. GXLK.L - Expense Ratio Comparison
TECW.L has a 0.30% expense ratio, which is higher than GXLK.L's 0.15% expense ratio.
Dividends
TECW.L vs. GXLK.L - Dividend Comparison
Neither TECW.L nor GXLK.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.99, TECW.L and GXLK.L 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.
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.
GXLK.L is cheaper with a 0.15% expense ratio, compared with 0.30% for TECW.L.
Both ETFs track MSCI World/Information Tech NR USD. Their fees differ too: 0.30% for TECW.L and 0.15% for GXLK.L.
Find the right allocation for TECW.L and GXLK.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer