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XLI vs. XLK
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XLI vs. XLK

Last updated Apr 18, 2026

XLI (Industrial Select Sector SPDR Fund) and XLK (State Street Technology Select Sector SPDR ETF) are both exchange-traded funds — XLI is a Industrials Equities fund tracking the Industrial Select Sector 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, XLI returned 13.85%/yr vs 22.76%/yr for XLK. A 0.67 correlation means they provide meaningful diversification when combined. XLI charges 0.13%/yr vs 0.08%/yr for XLK.

Performance

XLI vs. XLK - Performance Comparison

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

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Returns By Period

In the year-to-date period, XLI achieves a 12.17% return, which is significantly higher than XLK's 7.34% return. Over the past 10 years, XLI has underperformed XLK with an annualized return of 13.85%, while XLK has yielded a comparatively higher 22.76% annualized return.

XLI

1D
1.87%
1M
5.34%
YTD
12.17%
6M
15.07%
1Y
40.34%
3Y*
21.53%
5Y*
13.11%
10Y*
13.85%

XLK

1D
1.53%
1M
12.02%
YTD
7.34%
6M
8.61%
1Y
60.98%
3Y*
28.18%
5Y*
17.48%
10Y*
22.76%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XLI vs. XLK - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XLI
Industrial Select Sector SPDR Fund		12.17%19.35%17.31%18.13%-5.57%21.08%10.91%29.08%-13.25%23.98%
XLK
State Street Technology Select Sector SPDR ETF		7.34%24.61%21.63%56.02%-27.73%34.74%43.62%49.86%-1.68%34.26%

Correlation

The correlation between XLI and XLK is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.56

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

0.58

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

0.64

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

0.62

Correlation (All Time)
Calculated using the full available price history since Dec 23, 1998

0.67

The correlation between XLI and XLK shifts across timeframes, from 0.56 (1 year) to 0.67 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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

Industrial Select Sector SPDR Fund

State Street Technology Select Sector SPDR ETF

Often compared with XLI:
XLI vs. VISXLI vs. PAVEXLI vs. SPYXLI vs. FIDUXLI vs. ITAXLI vs. AIRRXLI vs. VOO
Often compared with XLK:
XLK vs. QQQXLK vs. VGTXLK vs. SMHXLK vs. SPYXLK vs. FTECXLK vs. IYWXLK vs. XLE

Return for Risk

XLI vs. XLK — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XLI
XLI Risk / Return Rank: 6666
Overall Rank
XLI Sharpe Ratio Rank: 7272
Sharpe Ratio Rank
XLI Sortino Ratio Rank: 7171
Sortino Ratio Rank
XLI Omega Ratio Rank: 6666
Omega Ratio Rank
XLI Calmar Ratio Rank: 5454
Calmar Ratio Rank
XLI Martin Ratio Rank: 6565
Martin Ratio Rank
XLK
XLK Risk / Return Rank: 6868
Overall Rank
XLK Sharpe Ratio Rank: 8282
Sharpe Ratio Rank
XLK Sortino Ratio Rank: 7373
Sortino Ratio Rank
XLK Omega Ratio Rank: 7373
Omega Ratio Rank
XLK Calmar Ratio Rank: 5959
Calmar Ratio Rank
XLK Martin Ratio Rank: 5454
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.

XLI vs. XLK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Industrial Select Sector SPDR Fund (XLI) 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.

XLIXLKDifference

Sharpe ratio

Return per unit of total volatility

2.64

2.95

-0.31

Sortino ratio

Return per unit of downside risk

3.64

3.67

-0.03

Omega ratio

Gain probability vs. loss probability

1.45

1.49

-0.03

Calmar ratio

Return relative to maximum drawdown

3.21

3.43

-0.22

Martin ratio

Return relative to average drawdown

13.72

11.49

+2.22

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XLI vs. XLK - Sharpe Ratio Comparison

The current XLI Sharpe Ratio is 2.64, which is comparable to the XLK Sharpe Ratio of 2.95. The chart below compares the historical Sharpe Ratios of XLI 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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Sharpe Ratios by Period

XLIXLKDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.64

2.95

-0.31

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.76

0.71

+0.05

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.70

0.94

-0.24

Sharpe Ratio (All Time)

Calculated using the full available price history

0.45

0.38

+0.07

Drawdowns

XLI vs. XLK - Drawdown Comparison

The maximum XLI drawdown since its inception was -62.26%, smaller than the maximum XLK drawdown of -82.05%. Use the drawdown chart below to compare losses from any high point for XLI and XLK.

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Drawdown Indicators

XLIXLKDifference

Max Drawdown

Largest peak-to-trough decline

-62.26%

-82.05%

+19.79%

Max Drawdown (1Y)

Largest decline over 1 year

-12.21%

-15.92%

+3.71%

Max Drawdown (5Y)

Largest decline over 5 years

-21.64%

-33.56%

+11.92%

Max Drawdown (10Y)

Largest decline over 10 years

-42.33%

-33.56%

-8.77%

Current Drawdown

Current decline from peak

-2.74%

0.00%

-2.74%

Average Drawdown

Average peak-to-trough decline

-9.23%

-35.12%

+25.89%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.86%

4.75%

-1.89%

Volatility

XLI vs. XLK - Volatility Comparison

The current volatility for Industrial Select Sector SPDR Fund (XLI) is 7.06%, while State Street Technology Select Sector SPDR ETF (XLK) has a volatility of 8.08%. This indicates that XLI 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

XLIXLKDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.06%

8.08%

-1.02%

Volatility (6M)

Calculated over the trailing 6-month period

12.11%

16.23%

-4.12%

Volatility (1Y)

Calculated over the trailing 1-year period

15.40%

20.88%

-5.48%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.35%

24.75%

-7.40%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.92%

24.36%

-4.44%

XLI vs. XLK - Expense Ratio Comparison

XLI has a 0.13% 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

XLI vs. XLK - Dividend Comparison

XLI's dividend yield for the trailing twelve months is around 1.18%, more than XLK's 0.49% yield.

TTM20252024202320222021202020192018201720162015
XLI
Industrial Select Sector SPDR Fund		1.18%1.29%1.44%1.63%1.63%1.25%1.55%1.94%2.15%1.77%2.07%2.15%
XLK
State Street Technology Select Sector SPDR ETF		0.49%0.54%0.66%0.76%1.04%0.65%0.92%1.16%1.60%1.37%1.74%1.79%