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XEI.TO vs. XLK
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XEI.TO vs. XLK

Last updated Jun 14, 2026

XEI.TO (iShares S&P/TSX Composite High Dividend Index ETF) and XLK (State Street Technology Select Sector SPDR ETF) are both exchange-traded funds - XEI.TO is a Canada Equities fund tracking the S&P/TSX Composite High Dividend Index, while XLK is a Technology Equities fund tracking the S&P Technology Select Sector Daily Capped 35/20 Index. Both are passively managed. Over the past 10 years, XEI.TO returned 12.09%/yr vs 26.27%/yr for XLK. At a 0.40 correlation, their price movements are largely independent. XEI.TO charges 0.22%/yr vs 0.08%/yr for XLK.

Performance

XEI.TO vs. XLK - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares S&P/TSX Composite High Dividend Index ETF (XEI.TO) and State Street Technology Select Sector SPDR ETF (XLK). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

XEI.TO is traded in CAD, while XLK is traded in USD. To make them comparable, the XLK values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XEI.TO achieves a 24.32% return, which is significantly lower than XLK's 31.13% return. Over the past 10 years, XEI.TO has underperformed XLK with an annualized return of 12.09%, while XLK has yielded a comparatively higher 26.27% annualized return.

XEI.TO

1D
0.58%
1M
3.92%
YTD
24.32%
6M
20.22%
1Y
38.85%
3Y*
21.39%
5Y*
14.74%
10Y*
12.09%

XLK

1D
1.05%
1M
4.96%
YTD
31.13%
6M
30.81%
1Y
59.71%
3Y*
32.23%
5Y*
25.59%
10Y*
26.27%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XEI.TO vs. XLK - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XEI.TO
iShares S&P/TSX Composite High Dividend Index ETF		24.32%20.86%15.26%6.59%0.32%35.76%-7.60%25.30%-10.95%7.14%
XLK
State Street Technology Select Sector SPDR ETF		31.13%18.92%31.93%52.31%-23.15%34.68%40.21%43.68%6.59%25.17%

Correlation

The correlation between XEI.TO and XLK is 0.09, 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

0.09

Correlation (3Y)
Calculated over the trailing 3-year period

0.23

Correlation (5Y)
Calculated over the trailing 5-year period

0.33

Correlation (10Y)
Calculated over the trailing 10-year period

0.37

Correlation (All Time)
Calculated using the full available price history since Apr 18, 2011

0.40

Over the past year, the correlation between XEI.TO and XLK has dropped to 0.09 - well below their long-term average of 0.40, suggesting their price drivers have been diverging.

XEI.TO vs. XLK - Sectors Allocation Comparison

Sectors
XEI.TO
XLK

Energy

32.1%
0.2%

Financial Services

31.4%

-

Utilities

11.2%

-

Communication Services

7.6%

-

Consumer Cyclical

6.2%

-

Real Estate

4.8%

-

Basic Materials

4.6%

-

Technology

0.7%
99.7%

Industrials

0.7%
0.1%

Consumer Defensive

0.5%

-

Healthcare

0.2%

-

Energy

XEI.TO
32.1%
XLK
0.2%

Financial Services

XEI.TO
31.4%
XLK

-

Utilities

XEI.TO
11.2%
XLK

-

Communication Services

XEI.TO
7.6%
XLK

-

Consumer Cyclical

XEI.TO
6.2%
XLK

-

Real Estate

XEI.TO
4.8%
XLK

-

Basic Materials

XEI.TO
4.6%
XLK

-

Technology

XEI.TO
0.7%
XLK
99.7%

Industrials

XEI.TO
0.7%
XLK
0.1%

Consumer Defensive

XEI.TO
0.5%
XLK

-

Healthcare

XEI.TO
0.2%
XLK

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares S&P/TSX Composite High Dividend Index ETF

State Street Technology Select Sector SPDR ETF

Often compared with XEI.TO:
XEI.TO vs. VDY.TOXEI.TO vs. XDIV.TOXEI.TO vs. XEQT.TOXEI.TO vs. VFV.TOXEI.TO vs. ZDV.TOXEI.TO vs. CDZ.TOXEI.TO vs. XDV.TO
Often compared with XLK:
XLK vs. QQQXLK vs. VGTXLK vs. SMHXLK vs. SPYXLK vs. FTECXLK vs. XLEXLK vs. IYW

Return for Risk

XEI.TO vs. XLK — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XEI.TO
XEI.TO Risk / Return Rank: 9898
Overall Rank
XEI.TO Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
XEI.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
XEI.TO Omega Ratio Rank: 9898
Omega Ratio Rank
XEI.TO Calmar Ratio Rank: 9797
Calmar Ratio Rank
XEI.TO Martin Ratio Rank: 9797
Martin Ratio Rank
XLK
XLK Risk / Return Rank: 7676
Overall Rank
XLK Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
XLK Sortino Ratio Rank: 7676
Sortino Ratio Rank
XLK Omega Ratio Rank: 7878
Omega Ratio Rank
XLK Calmar Ratio Rank: 7575
Calmar Ratio Rank
XLK Martin Ratio Rank: 6868
Martin Ratio Rank
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.

XEI.TO vs. XLK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P/TSX Composite High Dividend Index ETF (XEI.TO) 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.

XEI.TOXLKDifference
Sharpe ratioReturn per unit of total volatility
5.02
2.51

+2.51

Sortino ratioReturn per unit of downside risk
6.90
3.10

+3.80

Omega ratioGain probability vs. loss probability

2.02

1.41

+0.61

Calmar ratioReturn relative to maximum drawdown

9.32

3.52

+5.80

Martin ratioReturn relative to average drawdown

41.87

10.37

+31.49

XEI.TO vs. XLK - Sharpe Ratio Comparison

The current XEI.TO Sharpe Ratio is 5.02, which is higher than the XLK Sharpe Ratio of 2.51. The chart below compares the historical Sharpe Ratios of XEI.TO 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.

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Drawdowns

XEI.TO vs. XLK - Drawdown Comparison

The maximum XEI.TO drawdown since its inception was -45.52%, which is greater than XLK's maximum drawdown of -38.68%. Use the drawdown chart below to compare losses from any high point for XEI.TO and XLK.

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Drawdown Indicators

XEI.TOXLKDifference

Max Drawdown

Largest peak-to-trough decline

-45.52%

-38.68%

-6.84%

Max Drawdown (1Y)

Largest decline over 1 year

-4.22%

-16.16%

+11.94%

Max Drawdown (3Y)

Largest decline over 3 years

-9.96%

-26.35%

+16.39%

Max Drawdown (5Y)

Largest decline over 5 years

-17.35%

-29.64%

+12.29%

Max Drawdown (10Y)

Largest decline over 10 years

-45.52%

-29.64%

-15.88%

Current Drawdown

Current decline from peak

0.00%

-5.87%

+5.87%

Average Drawdown

Average peak-to-trough decline

-5.10%

-7.56%

+2.46%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.94%

5.48%

-4.54%

Volatility

XEI.TO vs. XLK - Volatility Comparison

The current volatility for iShares S&P/TSX Composite High Dividend Index ETF (XEI.TO) is 2.68%, while State Street Technology Select Sector SPDR ETF (XLK) has a volatility of 10.83%. This indicates that XEI.TO 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

XEI.TOXLKDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.68%

10.83%

-8.15%

Volatility (6M)

Calculated over the trailing 6-month period

6.71%

19.12%

-12.41%

Volatility (1Y)

Calculated over the trailing 1-year period

7.84%

22.68%

-14.84%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.31%

25.91%

-14.60%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.02%

25.57%

-9.55%

XEI.TO vs. XLK - Expense Ratio Comparison

XEI.TO has a 0.22% expense ratio, which is higher than XLK's 0.08% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

XEI.TO vs. XLK - Dividend Comparison

XEI.TO's dividend yield for the trailing twelve months is around 3.53%, more than XLK's 0.41% yield.

PositionTTM20252024202320222021202020192018201720162015
XEI.TO
iShares S&P/TSX Composite High Dividend Index ETF		3.53%4.47%5.45%4.97%4.68%3.58%5.03%4.62%5.42%4.29%4.41%5.64%
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

XEI.TO and XLK have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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.

XLK is cheaper with a 0.08% expense ratio, compared with 0.22% for XEI.TO.

XEI.TO is categorized as Canada Equities, while XLK is Technology Equities. XEI.TO tracks S&P/TSX Composite High Dividend Index, while XLK tracks S&P Technology Select Sector Daily Capped 35/20 Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.22% for XEI.TO and 0.08% for XLK.

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