VGENX vs. XLK

Last updated Jun 4, 2026

VGENX (Vanguard Energy Fund Investor Shares) and XLK (State Street Technology Select Sector SPDR ETF) are both funds - VGENX is a Energy Equities fund managed by Vanguard, while XLK is a Technology Equities fund tracking the S&P Technology Select Sector Daily Capped 35/20 Index. Over the past 10 years, VGENX returned 9.44%/yr vs 25.84%/yr for XLK. At a 0.41 correlation, their price movements are largely independent. VGENX charges 0.41%/yr vs 0.08%/yr for XLK.

Performance

VGENX vs. XLK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Energy Fund Investor Shares (VGENX) 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, VGENX achieves a 20.03% return, which is significantly lower than XLK's 36.47% return. Over the past 10 years, VGENX has underperformed XLK with an annualized return of 9.44%, while XLK has yielded a comparatively higher 25.84% annualized return.

VGENX

• 1D: 1.24%
• 1M: -3.39%
• YTD: 20.03%
• 6M: 18.09%
• 1Y: 32.90%
• 3Y*: 28.15%
• 5Y*: 22.01%
• 10Y*: 9.44%

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)

VGENX vs. XLK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VGENX Vanguard Energy Fund Investor Shares	20.03%	20.67%	30.25%	8.78%	23.59%	27.71%	-30.85%	13.23%	-17.19%	3.22%
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 VGENX and XLK is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.06
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (5Y) Calculated over the trailing 5-year period	0.25
Correlation (10Y) Calculated over the trailing 10-year period	0.35
Correlation (All Time) Calculated using the full available price history since Dec 23, 1998	0.41

The correlation between VGENX and XLK shifts across timeframes, from -0.06 (1 year) to 0.41 (all time), reflecting how their relationship changes across market environments.

VGENX vs. XLK - Sectors Allocation Comparison

Sectors	VGENX	XLK
Energy	56.5%	0.2%
Utilities	40.8%	-
Basic Materials	1.1%	-
Financial Services	0.0%	-
Real Estate	0.0%	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Healthcare	-	-
Industrials	-	0.1%
Technology	-	99.7%

Return for Risk

VGENX vs. XLK — Risk / Return Rank

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

VGENX

VGENX Risk / Return Rank: 85
VGENX Sharpe Ratio Rank: 85
VGENX Sortino Ratio Rank: 79
VGENX Omega Ratio Rank: 73
VGENX Calmar Ratio Rank: 95
VGENX Martin Ratio Rank: 93

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.

VGENX vs. XLK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Energy Fund Investor Shares (VGENX) 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.

	VGENX	XLK	Difference
Sharpe ratio: Return per unit of total volatility	2.74	3.24	-0.49
Sortino ratio: Return per unit of downside risk	3.74	3.92	-0.19
Omega ratio: Gain probability vs. loss probability	1.48	1.52	-0.04
Calmar ratio: Return relative to maximum drawdown	5.82	4.22	+1.59
Martin ratio: Return relative to average drawdown	20.05	14.16	+5.90
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VGENX vs. XLK - Sharpe Ratio Comparison

The current VGENX Sharpe Ratio is 2.74, which is comparable to the XLK Sharpe Ratio of 3.24. The chart below compares the historical Sharpe Ratios of VGENX 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

	VGENX	XLK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.74	3.24	-0.49
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.18	0.96	+0.22
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.41	1.06	-0.65
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.42	+0.03

Drawdowns

VGENX vs. XLK - Drawdown Comparison

The maximum VGENX drawdown since its inception was -65.37%, smaller than the maximum XLK drawdown of -82.05%. Use the drawdown chart below to compare losses from any high point for VGENX and XLK.

Drawdown Indicators

	VGENX	XLK	Difference
Max Drawdown Largest peak-to-trough decline	-65.37%	-82.05%	+16.68%
Max Drawdown (1Y) Largest decline over 1 year	-5.71%	-15.92%	+10.21%
Max Drawdown (3Y) Largest decline over 3 years	-12.30%	-25.66%	+13.36%
Max Drawdown (5Y) Largest decline over 5 years	-19.72%	-33.56%	+13.84%
Max Drawdown (10Y) Largest decline over 10 years	-61.19%	-33.56%	-27.63%
Current Drawdown Current decline from peak	-4.26%	-1.00%	-3.26%
Average Drawdown Average peak-to-trough decline	-14.94%	-34.96%	+20.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.65%	4.74%	-3.09%

Volatility

VGENX vs. XLK - Volatility Comparison

The current volatility for Vanguard Energy Fund Investor Shares (VGENX) is 4.92%, while State Street Technology Select Sector SPDR ETF (XLK) has a volatility of 6.98%. This indicates that VGENX experiences smaller price fluctuations and is considered to be less risky than XLK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VGENX	XLK	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.92%	6.98%	-2.06%
Volatility (6M) Calculated over the trailing 6-month period	10.21%	16.68%	-6.47%
Volatility (1Y) Calculated over the trailing 1-year period	12.14%	20.82%	-8.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.71%	24.90%	-6.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.20%	24.49%	-1.29%

VGENX vs. XLK - Expense Ratio Comparison

VGENX has a 0.41% expense ratio, which is higher than XLK's 0.08% expense ratio.

Dividends

VGENX vs. XLK - Dividend Comparison

VGENX's dividend yield for the trailing twelve months is around 7.14%, more than XLK's 0.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VGENX Vanguard Energy Fund Investor Shares	7.14%	4.71%	33.96%	6.83%	4.63%	3.63%	4.46%	3.30%	2.96%	2.96%	1.84%	2.63%
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 VGENX and XLK in my portfolio?

VGENX and XLK have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VGENX or XLK?

XLK has higher volatility (6.98%) compared to VGENX (4.92%). In terms of maximum drawdown, VGENX dropped -65.37% vs XLK's -82.05%.

Which has better risk-adjusted returns?

XLK currently has the higher Sharpe Ratio (3.24 vs 2.74), 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.