TKC vs. XLK

Last updated Jun 4, 2026

TKC (Turkcell Iletisim Hizmetleri A.S.) is a stock, while XLK (State Street Technology Select Sector SPDR ETF) is Technology Equities fund tracking the S&P Technology Select Sector Daily Capped 35/20 Index. Over the past 10 years, TKC returned 0.12%/yr vs 25.84%/yr for XLK. At a 0.29 correlation, their price movements are largely independent.

Performance

TKC vs. XLK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Turkcell Iletisim Hizmetleri A.S. (TKC) 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, TKC achieves a 7.50% return, which is significantly lower than XLK's 36.47% return. Over the past 10 years, TKC has underperformed XLK with an annualized return of 0.12%, while XLK has yielded a comparatively higher 25.84% annualized return.

TKC

• 1D: -1.34%
• 1M: -5.16%
• YTD: 7.50%
• 6M: 2.57%
• 1Y: 1.70%
• 3Y*: 15.45%
• 5Y*: 8.15%
• 10Y*: 0.12%

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)

TKC vs. XLK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TKC Turkcell Iletisim Hizmetleri A.S.	7.50%	-12.66%	39.58%	2.46%	38.18%	-28.03%	-4.86%	7.00%	-39.75%	66.84%
XLK State Street Technology Select Sector SPDR ETF	36.47%	24.61%	21.63%	56.02%	-27.73%	34.74%	43.62%	49.86%	-1.68%	34.26%

Correlation

The correlation between TKC and XLK is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.17
Correlation (10Y) Calculated over the trailing 10-year period	0.21
Correlation (All Time) Calculated using the full available price history since Jul 12, 2000	0.29

The correlation between TKC and XLK shifts across timeframes, from 0.16 (3 years) to 0.29 (all time), reflecting how their relationship changes across market environments.

Return for Risk

TKC vs. XLK — Risk / Return Rank

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

TKC

TKC Risk / Return Rank: 40
TKC Sharpe Ratio Rank: 43
TKC Sortino Ratio Rank: 37
TKC Omega Ratio Rank: 36
TKC Calmar Ratio Rank: 42
TKC 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.

TKC vs. XLK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Turkcell Iletisim Hizmetleri A.S. (TKC) 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.

	TKC	XLK	Difference
Sharpe ratio: Return per unit of total volatility	0.06	3.24	-3.18
Sortino ratio: Return per unit of downside risk	0.29	3.92	-3.63
Omega ratio: Gain probability vs. loss probability	1.04	1.52	-0.48
Calmar ratio: Return relative to maximum drawdown	0.08	4.22	-4.14
Martin ratio: Return relative to average drawdown	0.18	14.16	-13.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TKC vs. XLK - Sharpe Ratio Comparison

The current TKC Sharpe Ratio is 0.06, which is lower than the XLK Sharpe Ratio of 3.24. The chart below compares the historical Sharpe Ratios of TKC 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

	TKC	XLK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.06	3.24	-3.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.21	0.96	-0.75
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.00	1.06	-1.06
Sharpe Ratio (All Time) Calculated using the full available price history	-0.04	0.42	-0.45

Drawdowns

TKC vs. XLK - Drawdown Comparison

The maximum TKC drawdown since its inception was -92.94%, which is greater than XLK's maximum drawdown of -82.05%. Use the drawdown chart below to compare losses from any high point for TKC and XLK.

Drawdown Indicators

	TKC	XLK	Difference
Max Drawdown Largest peak-to-trough decline	-92.94%	-82.05%	-10.89%
Max Drawdown (1Y) Largest decline over 1 year	-20.70%	-15.92%	-4.78%
Max Drawdown (3Y) Largest decline over 3 years	-30.32%	-25.66%	-4.66%
Max Drawdown (5Y) Largest decline over 5 years	-50.59%	-33.56%	-17.03%
Max Drawdown (10Y) Largest decline over 10 years	-72.96%	-33.56%	-39.40%
Current Drawdown Current decline from peak	-59.20%	-1.00%	-58.20%
Average Drawdown Average peak-to-trough decline	-56.67%	-34.96%	-21.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.44%	4.74%	+4.70%

Volatility

TKC vs. XLK - Volatility Comparison

Turkcell Iletisim Hizmetleri A.S. (TKC) has a higher volatility of 10.57% compared to State Street Technology Select Sector SPDR ETF (XLK) at 6.98%. This indicates that TKC'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

	TKC	XLK	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.57%	6.98%	+3.59%
Volatility (6M) Calculated over the trailing 6-month period	20.19%	16.68%	+3.51%
Volatility (1Y) Calculated over the trailing 1-year period	29.65%	20.82%	+8.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.13%	24.90%	+13.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.34%	24.49%	+12.85%

Dividends

TKC vs. XLK - Dividend Comparison

TKC's dividend yield for the trailing twelve months is around 3.75%, more than XLK's 0.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TKC Turkcell Iletisim Hizmetleri A.S.	3.75%	4.03%	3.14%	1.98%	1.72%	9.59%	2.19%	3.48%	8.57%	10.52%	0.00%	16.91%
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 TKC and XLK in my portfolio?

TKC and XLK have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TKC or XLK?

TKC has higher volatility (10.57%) compared to XLK (6.98%). In terms of maximum drawdown, TKC dropped -92.94% vs XLK's -82.05%.

Which has better risk-adjusted returns?

XLK currently has the higher Sharpe Ratio (3.24 vs 0.06), 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.