WM vs. XLK
WM (Waste Management, Inc.) 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, WM returned 15.36%/yr vs 25.19%/yr for XLK. At a 0.36 correlation, their price movements are largely independent.
Performance
WM vs. XLK - Performance Comparison
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Returns By Period
In the year-to-date period, WM achieves a 0.71% return, which is significantly lower than XLK's 28.52% return. Over the past 10 years, WM has underperformed XLK with an annualized return of 15.36%, while XLK has yielded a comparatively higher 25.19% annualized return.
WM
- 1D
- 0.30%
- 1M
- 0.26%
- YTD
- 0.71%
- 6M
- 2.63%
- 1Y
- -5.72%
- 3Y*
- 12.33%
- 5Y*
- 11.14%
- 10Y*
- 15.36%
XLK
- 1D
- 0.87%
- 1M
- 2.95%
- YTD
- 28.52%
- 6M
- 28.96%
- 1Y
- 55.42%
- 3Y*
- 30.28%
- 5Y*
- 22.02%
- 10Y*
- 25.19%
WM vs. XLK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WM Waste Management, Inc. | 0.71% | 10.50% | 14.28% | 16.20% | -4.49% | 43.82% | 5.46% | 30.45% | 5.32% | 24.46% |
XLK State Street Technology Select Sector SPDR ETF | 28.52% | 24.61% | 21.63% | 56.02% | -27.73% | 34.74% | 43.62% | 49.86% | -1.68% | 34.26% |
Correlation
The correlation between WM and XLK is -0.31, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Dec 22, 1998 | 0.36 |
The correlation between WM and XLK shifts across timeframes, from -0.31 (1 year) to 0.36 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
WM vs. XLK — Risk / Return Rank
WM
XLK
WM vs. XLK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Waste Management, Inc. (WM) 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.
| WM | XLK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.69 | ||
| Sortino ratioReturn per unit of downside risk | -3.23 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.39 | -0.43 |
| Calmar ratioReturn relative to maximum drawdown | -0.36 | 3.36 | -3.72 |
| Martin ratioReturn relative to average drawdown | -0.79 | 10.85 | -11.64 |
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Drawdowns
WM vs. XLK - Drawdown Comparison
The maximum WM drawdown since its inception was -77.85%, smaller than the maximum XLK drawdown of -82.05%. Use the drawdown chart below to compare losses from any high point for WM and XLK.
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Drawdown Indicators
| WM | XLK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.85% | -82.05% | +4.20% |
Max Drawdown (1Y)Largest decline over 1 year | -16.70% | -15.92% | -0.78% |
Max Drawdown (3Y)Largest decline over 3 years | -18.14% | -25.66% | +7.52% |
Max Drawdown (5Y)Largest decline over 5 years | -18.14% | -33.56% | +15.42% |
Max Drawdown (10Y)Largest decline over 10 years | -30.07% | -33.56% | +3.49% |
Current DrawdownCurrent decline from peak | -10.24% | -6.77% | -3.47% |
Average DrawdownAverage peak-to-trough decline | -17.69% | -34.93% | +17.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.58% | 4.92% | +2.66% |
Volatility
WM vs. XLK - Volatility Comparison
The current volatility for Waste Management, Inc. (WM) is 6.13%, while State Street Technology Select Sector SPDR ETF (XLK) has a volatility of 10.86%. This indicates that WM 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.
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Volatility by Period
| WM | XLK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.13% | 10.86% | -4.73% |
Volatility (6M)Calculated over the trailing 6-month period | 14.08% | 18.92% | -4.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.03% | 22.55% | -3.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.62% | 25.18% | -6.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.54% | 24.64% | -5.10% |
Dividends
WM vs. XLK - Dividend Comparison
WM's dividend yield for the trailing twelve months is around 1.61%, more than XLK's 0.41% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
WM Waste Management, Inc. | 1.61% | 1.50% | 1.49% | 1.56% | 1.66% | 1.38% | 1.85% | 1.80% | 2.09% | 1.97% | 2.31% | 2.89% |
XLK State Street Technology Select Sector SPDR ETF | 0.41% | 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
WM and XLK have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XLK has higher volatility (10.86%) compared to WM (6.13%). In terms of maximum drawdown, WM dropped -77.85% vs XLK's -82.05%.
XLK currently has the higher Sharpe Ratio (2.37 vs -0.32), 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.
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