XLK vs. BTC-USD
XLK (State Street Technology Select Sector SPDR ETF) is Technology Equities fund tracking the S&P Technology Select Sector Daily Capped 35/20 Index, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 10 years, XLK returned 24.05%/yr vs 57.64%/yr for BTC-USD. At a 0.12 correlation, their price movements are largely independent.
Performance
XLK vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, XLK achieves a 22.26% return, which is significantly higher than BTC-USD's -27.00% return. Over the past 10 years, XLK has underperformed BTC-USD with an annualized return of 24.05%, while BTC-USD has yielded a comparatively higher 57.64% annualized return.
XLK
- 1D
- -1.09%
- 1M
- -5.38%
- 6M
- 20.87%
- YTD
- 22.26%
- 1Y
- 35.23%
- 3Y*
- 25.72%
- 5Y*
- 19.39%
- 10Y*
- 24.05%
BTC-USD
- 1D
- 0.16%
- 1M
- -0.89%
- 6M
- -33.12%
- YTD
- -27.00%
- 1Y
- -46.45%
- 3Y*
- 28.84%
- 5Y*
- 14.98%
- 10Y*
- 57.64%
XLK vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XLK State Street Technology Select Sector SPDR ETF | 22.26% | 24.61% | 21.63% | 56.02% | -27.73% | 34.74% | 43.62% | 49.86% | -1.68% | 34.26% |
BTC-USD Bitcoin | -27.00% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | 94.10% | -73.37% | 1,324.24% |
Correlation
The correlation between XLK and BTC-USD is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Nov 1, 2012 | 0.12 |
Over the past year, XLK and BTC-USD have become more correlated (0.33) than their long-term average of 0.12, meaning their price movements have been converging.
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Return for Risk
XLK vs. BTC-USD — Risk / Return Rank
XLK
BTC-USD
XLK vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street Technology Select Sector SPDR ETF (XLK) and Bitcoin (BTC-USD). 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.
| XLK | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.52 | ||
| Sortino ratioReturn per unit of downside risk | +3.57 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 0.83 | +0.41 |
| Calmar ratioReturn relative to maximum drawdown | 2.22 | -0.88 | +3.10 |
| Martin ratioReturn relative to average drawdown | 6.56 | -1.41 | +7.96 |
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Drawdowns
XLK vs. BTC-USD - Drawdown Comparison
The maximum XLK drawdown since its inception was -82.05%, roughly equal to the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for XLK and BTC-USD.
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Drawdown Indicators
| XLK | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.05% | -85.30% | +3.25% |
Max Drawdown (1Y)Largest decline over 1 year | -15.92% | -53.08% | +37.16% |
Max Drawdown (3Y)Largest decline over 3 years | -25.66% | -53.08% | +27.42% |
Max Drawdown (5Y)Largest decline over 5 years | -33.56% | -76.67% | +43.11% |
Max Drawdown (10Y)Largest decline over 10 years | -33.56% | -83.80% | +50.24% |
Current DrawdownCurrent decline from peak | -11.31% | -48.79% | +37.48% |
Average DrawdownAverage peak-to-trough decline | -34.83% | -42.59% | +7.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.39% | 29.41% | -24.02% |
Volatility
XLK vs. BTC-USD - Volatility Comparison
State Street Technology Select Sector SPDR ETF (XLK) and Bitcoin (BTC-USD) have volatilities of 9.58% and 9.63%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XLK | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.58% | 9.63% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 20.94% | 34.90% | -13.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.57% | 35.73% | -11.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.58% | 43.96% | -18.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.80% | 56.33% | -31.53% |
Frequently Asked Questions
XLK and BTC-USD have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTC-USD has higher volatility (9.63%) compared to XLK (9.58%). In terms of maximum drawdown, XLK dropped -82.05% vs BTC-USD's -85.30%.
XLK currently has the higher Sharpe Ratio (1.44 vs -1.08), 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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