XLK vs. EME

Last updated Jul 21, 2026

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 EME (EMCOR Group, Inc.) is a stock. Over the past 10 years, XLK returned 23.89%/yr vs 31.20%/yr for EME. At a 0.47 correlation, their price movements are largely independent.

Performance

XLK vs. EME - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with XLK having a 22.34% return and EME slightly lower at 21.81%. Over the past 10 years, XLK has underperformed EME with an annualized return of 23.89%, while EME has yielded a comparatively higher 31.20% annualized return.

XLK

• 1D: 0.07%
• 1M: -8.11%
• 6M: 20.96%
• YTD: 22.34%
• 1Y: 35.41%
• 3Y*: 26.73%
• 5Y*: 19.16%
• 10Y*: 23.89%
• ALL TIME*: 10.23%

EME

• 1D: -0.02%
• 1M: -11.02%
• 6M: 6.60%
• YTD: 21.81%
• 1Y: 31.82%
• 3Y*: 57.90%
• 5Y*: 44.10%
• 10Y*: 31.20%
• ALL TIME*: 20.96%

*Multi-year figures are annualized to reflect compound growth (CAGR)

XLK vs. EME - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XLK State Street Technology Select Sector SPDR ETF	22.34%	24.61%	21.63%	56.02%	-27.73%	34.74%	43.62%	49.86%	-1.68%	34.26%
EME EMCOR Group, Inc.	21.81%	35.05%	111.27%	46.03%	16.81%	39.93%	6.47%	45.18%	-26.68%	16.09%

Correlation

The correlation between XLK and EME is 0.58, 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	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.53
Correlation (10Y) Calculated over the trailing 10-year period	0.47
Correlation (All Time) Calculated using the full available price history since Dec 22, 1998	0.47

The correlation between XLK and EME shifts across timeframes, from 0.47 (all time) to 0.58 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

XLK vs. EME — Risk / Return Rank

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

XLK

XLK Risk / Return Rank: 54
XLK Sharpe Ratio Rank: 57
XLK Sortino Ratio Rank: 51
XLK Omega Ratio Rank: 52
XLK Calmar Ratio Rank: 60
XLK Martin Ratio Rank: 52

EME

EME Risk / Return Rank: 69
EME Sharpe Ratio Rank: 71
EME Sortino Ratio Rank: 65
EME Omega Ratio Rank: 67
EME Calmar Ratio Rank: 71
EME Martin Ratio Rank: 70

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.

XLK vs. EME - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Technology Select Sector SPDR ETF (XLK) and EMCOR Group, Inc. (EME). 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	EME	Difference
Sharpe ratio: Return per unit of total volatility	1.45	0.80	+0.65
Sortino ratio: Return per unit of downside risk	1.93	1.23	+0.70
Omega ratio: Gain probability vs. loss probability	1.25	1.17	+0.07
Calmar ratio: Return relative to maximum drawdown	2.23	1.27	+0.96
Martin ratio: Return relative to average drawdown	6.53	2.83	+3.70

XLK vs. EME - Sharpe Ratio Comparison

The current XLK Sharpe Ratio is 1.45, which is higher than the EME Sharpe Ratio of 0.80. The chart below compares the historical Sharpe Ratios of XLK and EME, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

XLK vs. EME - Drawdown Comparison

The maximum XLK drawdown since its inception was -82.05%, which is greater than EME's maximum drawdown of -70.56%. Use the drawdown chart below to compare losses from any high point for XLK and EME.

Drawdown Indicators

	XLK	EME	Difference
Max Drawdown Largest peak-to-trough decline	-82.05%	-70.56%	-11.49%
Max Drawdown (1Y) Largest decline over 1 year	-15.92%	-25.15%	+9.23%
Max Drawdown (3Y) Largest decline over 3 years	-25.66%	-36.19%	+10.53%
Max Drawdown (5Y) Largest decline over 5 years	-33.56%	-36.19%	+2.63%
Max Drawdown (10Y) Largest decline over 10 years	-33.56%	-48.00%	+14.44%
Current Drawdown Current decline from peak	-11.25%	-21.12%	+9.87%
Average Drawdown Average peak-to-trough decline	-34.83%	-15.36%	-19.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.43%	11.26%	-5.83%

Volatility

XLK vs. EME - Volatility Comparison

The current volatility for State Street Technology Select Sector SPDR ETF (XLK) is 9.59%, while EMCOR Group, Inc. (EME) has a volatility of 12.35%. This indicates that XLK experiences smaller price fluctuations and is considered to be less risky than EME based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XLK	EME	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.59%	12.35%	-2.76%
Volatility (6M) Calculated over the trailing 6-month period	20.94%	27.56%	-6.62%
Volatility (1Y) Calculated over the trailing 1-year period	24.61%	40.20%	-15.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.57%	33.67%	-8.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.81%	33.19%	-8.38%

Dividends

XLK vs. EME - Dividend Comparison

XLK's dividend yield for the trailing twelve months is around 0.45%, more than EME's 0.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EME EMCOR Group, Inc.	0.19%	0.16%	0.20%	0.32%	0.36%	0.41%	0.35%	0.37%	0.54%	0.39%	0.45%	0.67%
XLK State Street Technology Select Sector SPDR ETF	0.45%	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 XLK and EME in my portfolio?

XLK and EME have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XLK or EME?

EME has higher volatility (12.35%) compared to XLK (9.59%). In terms of maximum drawdown, XLK dropped -82.05% vs EME's -70.56%.

Which has better risk-adjusted returns?

XLK currently has the higher Sharpe Ratio (1.45 vs 0.80), 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.