TECW.L vs. XLKQ.L

Last updated Jun 5, 2026

TECW.L (SPDR MSCI World Technology UCITS ETF) and XLKQ.L (Invesco Technology S&P US Select Sector UCITS ETF GBP Acc) are both Technology Equities funds - TECW.L tracks the MSCI World/Information Tech NR USD while XLKQ.L tracks the S&P Select Sector Capped 20% Technology Index. Both are passively managed. Over the past 3 years, TECW.L returned 29.52%/yr vs 33.18%/yr for XLKQ.L. With a 0.99 correlation, they move nearly in lockstep. TECW.L charges 0.30%/yr vs 0.14%/yr for XLKQ.L.

Performance

TECW.L vs. XLKQ.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in SPDR MSCI World Technology UCITS ETF (TECW.L) and Invesco Technology S&P US Select Sector UCITS ETF GBP Acc (XLKQ.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

TECW.L is traded in GBP, while XLKQ.L is traded in GBp. To make them comparable, the XLKQ.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

The year-to-date returns for both stocks are quite close, with TECW.L having a 24.30% return and XLKQ.L slightly lower at 23.81%.

TECW.L

• 1D: -1.91%
• 1M: 12.81%
• YTD: 24.30%
• 6M: 22.10%
• 1Y: 51.61%
• 3Y*: 29.52%
• 5Y*: —
• 10Y*: —

XLKQ.L

• 1D: -2.23%
• 1M: 14.41%
• YTD: 23.81%
• 6M: 22.31%
• 1Y: 54.52%
• 3Y*: 33.18%
• 5Y*: 26.60%
• 10Y*: 27.22%

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

TECW.L vs. XLKQ.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%
XLKQ.L Invesco Technology S&P US Select Sector UCITS ETF GBP Acc	23.81%	15.76%	44.03%	51.84%	-15.93%

Correlation

The correlation between TECW.L and XLKQ.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	0.99
Correlation (All Time) Calculated using the full available price history since Apr 5, 2022	0.99

The correlation between TECW.L and XLKQ.L has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.

Return for Risk

TECW.L vs. XLKQ.L — Risk / Return Rank

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

TECW.L

TECW.L Risk / Return Rank: 70
TECW.L Sharpe Ratio Rank: 84
TECW.L Sortino Ratio Rank: 78
TECW.L Omega Ratio Rank: 75
TECW.L Calmar Ratio Rank: 64
TECW.L Martin Ratio Rank: 49

XLKQ.L

XLKQ.L Risk / Return Rank: 73
XLKQ.L Sharpe Ratio Rank: 86
XLKQ.L Sortino Ratio Rank: 81
XLKQ.L Omega Ratio Rank: 78
XLKQ.L Calmar Ratio Rank: 66
XLKQ.L Martin Ratio Rank: 51

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.

TECW.L vs. XLKQ.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 Invesco Technology S&P US Select Sector UCITS ETF GBP Acc (XLKQ.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	XLKQ.L	Difference
Sharpe ratio: Return per unit of total volatility	2.71	2.83	-0.12
Sortino ratio: Return per unit of downside risk	3.46	3.59	-0.13
Omega ratio: Gain probability vs. loss probability	1.44	1.46	-0.02
Calmar ratio: Return relative to maximum drawdown	3.14	3.24	-0.10
Martin ratio: Return relative to average drawdown	8.04	8.42	-0.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TECW.L vs. XLKQ.L - Sharpe Ratio Comparison

The current TECW.L Sharpe Ratio is 2.71, which is comparable to the XLKQ.L Sharpe Ratio of 2.83. The chart below compares the historical Sharpe Ratios of TECW.L and XLKQ.L, 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

	TECW.L	XLKQ.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.71	2.83	-0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.21	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.33	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.02	1.33	-0.31

Drawdowns

TECW.L vs. XLKQ.L - Drawdown Comparison

The maximum TECW.L drawdown since its inception was -28.26%, roughly equal to the maximum XLKQ.L drawdown of -28.74%. Use the drawdown chart below to compare losses from any high point for TECW.L and XLKQ.L.

Drawdown Indicators

	TECW.L	XLKQ.L	Difference
Max Drawdown Largest peak-to-trough decline	-28.26%	-28.74%	+0.48%
Max Drawdown (1Y) Largest decline over 1 year	-16.66%	-16.76%	+0.10%
Max Drawdown (3Y) Largest decline over 3 years	-28.26%	-28.74%	+0.48%
Max Drawdown (5Y) Largest decline over 5 years	—	-28.74%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-28.74%	—
Current Drawdown Current decline from peak	-2.33%	-2.84%	+0.51%
Average Drawdown Average peak-to-trough decline	-6.15%	-5.04%	-1.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.52%	6.45%	+0.07%

Volatility

TECW.L vs. XLKQ.L - Volatility Comparison

SPDR MSCI World Technology UCITS ETF (TECW.L) and Invesco Technology S&P US Select Sector UCITS ETF GBP Acc (XLKQ.L) have volatilities of 6.85% and 6.83%, 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.

Volatility by Period

	TECW.L	XLKQ.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.85%	6.83%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	14.32%	14.29%	+0.03%
Volatility (1Y) Calculated over the trailing 1-year period	19.31%	19.18%	+0.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.01%	22.04%	-0.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.01%	21.65%	+0.36%

TECW.L vs. XLKQ.L - Expense Ratio Comparison

TECW.L has a 0.30% expense ratio, which is higher than XLKQ.L's 0.14% expense ratio.

Dividends

TECW.L vs. XLKQ.L - Dividend Comparison

Neither TECW.L nor XLKQ.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both TECW.L and XLKQ.L in my portfolio?

With a correlation of 0.99, TECW.L and XLKQ.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.

Which ETF is better, TECW.L or XLKQ.L?

On fees, XLKQ.L is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TECW.L or XLKQ.L?

XLKQ.L is cheaper with a 0.14% expense ratio, compared with 0.30% for TECW.L.

What is the main difference between TECW.L and XLKQ.L?

TECW.L tracks MSCI World/Information Tech NR USD, while XLKQ.L tracks S&P Select Sector Capped 20% Technology Index. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.30% for TECW.L and 0.14% for XLKQ.L.