USMD vs. XLK

Last updated Jul 16, 2026

USMD (CoreValues America First Technology ETF) and XLK (State Street Technology Select Sector SPDR ETF) are both Technology Equities funds. USMD is actively managed, while XLK is passively managed. Their correlation of 0.92 suggests significant overlap in exposure. USMD charges 0.87%/yr vs 0.08%/yr for XLK.

Performance

USMD vs. XLK - Performance Comparison

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

Returns By Period

USMD

• 1D: -0.97%
• 1M: -5.41%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

XLK

• 1D: -1.11%
• 1M: -5.21%
• 6M: 25.79%
• YTD: 26.43%
• 1Y: 41.55%
• 3Y*: 28.16%
• 5Y*: 20.20%
• 10Y*: 24.52%

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

USMD vs. XLK - Yearly Performance Comparison

	2026 (YTD)
USMD CoreValues America First Technology ETF	21.52%
XLK State Street Technology Select Sector SPDR ETF	34.20%

Correlation

The correlation between USMD and XLK is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 6, 2026	0.92

Return for Risk

USMD vs. XLK — Risk / Return Rank

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

USMD

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

XLK

XLK Risk / Return Rank: 61
XLK Sharpe Ratio Rank: 65
XLK Sortino Ratio Rank: 58
XLK Omega Ratio Rank: 59
XLK Calmar Ratio Rank: 66
XLK Martin Ratio Rank: 57

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.

USMD vs. XLK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CoreValues America First Technology ETF (USMD) 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	USMD	XLK	Difference
Sharpe ratio: Return per unit of total volatility	—	1.71	—
Sortino ratio: Return per unit of downside risk	—	2.21	—
Omega ratio: Gain probability vs. loss probability	—	1.29	—
Calmar ratio: Return relative to maximum drawdown	—	2.62	—
Martin ratio: Return relative to average drawdown	—	7.86	—

Drawdowns

USMD vs. XLK - Drawdown Comparison

The maximum USMD drawdown since its inception was -10.35%, smaller than the maximum XLK drawdown of -82.05%. Use the drawdown chart below to compare losses from any high point for USMD and XLK.

Drawdown Indicators

	USMD	XLK	Difference
Max Drawdown Largest peak-to-trough decline	-10.35%	-82.05%	+71.70%
Max Drawdown (1Y) Largest decline over 1 year	—	-15.92%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-25.66%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-33.56%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.56%	—
Current Drawdown Current decline from peak	-8.83%	-8.28%	-0.55%
Average Drawdown Average peak-to-trough decline	-3.13%	-34.84%	+31.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.30%	—

Volatility

Volatility by Period

	USMD	XLK	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	10.47%	—
Volatility (6M) Calculated over the trailing 6-month period	—	20.81%	—
Volatility (1Y) Calculated over the trailing 1-year period	26.33%	24.44%	+1.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.33%	25.56%	+0.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.33%	24.79%	+1.54%

USMD vs. XLK - Expense Ratio Comparison

USMD has a 0.87% expense ratio, which is higher than XLK's 0.08% expense ratio.

Dividends

USMD vs. XLK - Dividend Comparison

USMD has not paid dividends to shareholders, while XLK's dividend yield for the trailing twelve months is around 0.44%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
USMD CoreValues America First Technology ETF	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	0.44%	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 USMD and XLK in my portfolio?

With a correlation of 0.92, USMD and XLK 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, USMD or XLK?

On fees, XLK is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, USMD or XLK?

XLK is cheaper with a 0.08% expense ratio, compared with 0.87% for USMD.

Which ETF pays a higher dividend yield, USMD or XLK?

XLK has the higher dividend yield at 0.44%, compared with 0.00% for USMD.

What is the main difference between USMD and XLK?

They also come from different issuers: CoreValues and State Street. Their fees differ too: 0.87% for USMD and 0.08% for XLK.