XLK vs. FSPTX

Last updated Jun 4, 2026

XLK (State Street Technology Select Sector SPDR ETF) and FSPTX (Fidelity Select Technology Portfolio) are both Technology Equities funds. XLK is passively managed, while FSPTX is actively managed. Over the past 10 years, XLK returned 25.84%/yr vs 27.99%/yr for FSPTX. Their correlation of 0.93 suggests significant overlap in exposure. XLK charges 0.08%/yr vs 0.62%/yr for FSPTX.

Performance

XLK vs. FSPTX - Performance Comparison

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

Returns By Period

In the year-to-date period, XLK achieves a 36.47% return, which is significantly lower than FSPTX's 47.21% return. Over the past 10 years, XLK has underperformed FSPTX with an annualized return of 25.84%, while FSPTX has yielded a comparatively higher 27.99% annualized return.

XLK

• 1D: -1.00%
• 1M: 21.09%
• YTD: 36.47%
• 6M: 35.71%
• 1Y: 66.93%
• 3Y*: 33.90%
• 5Y*: 23.83%
• 10Y*: 25.84%

FSPTX

• 1D: 2.81%
• 1M: 23.40%
• YTD: 47.21%
• 6M: 44.91%
• 1Y: 83.50%
• 3Y*: 42.95%
• 5Y*: 25.32%
• 10Y*: 27.99%

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

XLK vs. FSPTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XLK State Street Technology Select Sector SPDR ETF	36.47%	24.61%	21.63%	56.02%	-27.73%	34.74%	43.62%	49.86%	-1.68%	34.26%
FSPTX Fidelity Select Technology Portfolio	47.21%	23.37%	41.76%	59.83%	-36.91%	21.99%	63.95%	51.08%	-9.03%	49.75%

Correlation

The correlation between XLK and FSPTX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Dec 23, 1998	0.93

The correlation between XLK and FSPTX has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

Return for Risk

XLK vs. FSPTX — Risk / Return Rank

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

XLK

XLK Risk / Return Rank: 83
XLK Sharpe Ratio Rank: 91
XLK Sortino Ratio Rank: 85
XLK Omega Ratio Rank: 83
XLK Calmar Ratio Rank: 80
XLK Martin Ratio Rank: 73

FSPTX

FSPTX Risk / Return Rank: 94
FSPTX Sharpe Ratio Rank: 98
FSPTX Sortino Ratio Rank: 93
FSPTX Omega Ratio Rank: 89
FSPTX Calmar Ratio Rank: 96
FSPTX Martin Ratio Rank: 95

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. FSPTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Technology Select Sector SPDR ETF (XLK) and Fidelity Select Technology Portfolio (FSPTX). 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.

	XLK	FSPTX	Difference
Sharpe ratio: Return per unit of total volatility	3.24	4.04	-0.81
Sortino ratio: Return per unit of downside risk	3.92	4.66	-0.74
Omega ratio: Gain probability vs. loss probability	1.52	1.62	-0.10
Calmar ratio: Return relative to maximum drawdown	4.22	6.36	-2.14
Martin ratio: Return relative to average drawdown	14.16	21.78	-7.62
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XLK vs. FSPTX - Sharpe Ratio Comparison

The current XLK Sharpe Ratio is 3.24, which is comparable to the FSPTX Sharpe Ratio of 4.04. The chart below compares the historical Sharpe Ratios of XLK and FSPTX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	XLK	FSPTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.24	4.04	-0.81
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.96	0.93	+0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.06	1.08	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.57	-0.15

Drawdowns

XLK vs. FSPTX - Drawdown Comparison

The maximum XLK drawdown since its inception was -82.05%, roughly equal to the maximum FSPTX drawdown of -84.37%. Use the drawdown chart below to compare losses from any high point for XLK and FSPTX.

Drawdown Indicators

	XLK	FSPTX	Difference
Max Drawdown Largest peak-to-trough decline	-82.05%	-84.37%	+2.32%
Max Drawdown (1Y) Largest decline over 1 year	-15.92%	-13.71%	-2.21%
Max Drawdown (3Y) Largest decline over 3 years	-25.66%	-29.22%	+3.56%
Max Drawdown (5Y) Largest decline over 5 years	-33.56%	-42.16%	+8.60%
Max Drawdown (10Y) Largest decline over 10 years	-33.56%	-42.16%	+8.60%
Current Drawdown Current decline from peak	-1.00%	0.00%	-1.00%
Average Drawdown Average peak-to-trough decline	-34.96%	-27.03%	-7.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.74%	4.00%	+0.74%

Volatility

XLK vs. FSPTX - Volatility Comparison

State Street Technology Select Sector SPDR ETF (XLK) has a higher volatility of 6.98% compared to Fidelity Select Technology Portfolio (FSPTX) at 6.24%. This indicates that XLK's price experiences larger fluctuations and is considered to be riskier than FSPTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XLK	FSPTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.98%	6.24%	+0.74%
Volatility (6M) Calculated over the trailing 6-month period	16.68%	16.66%	+0.02%
Volatility (1Y) Calculated over the trailing 1-year period	20.82%	21.59%	-0.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.90%	27.36%	-2.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.49%	26.00%	-1.51%

XLK vs. FSPTX - Expense Ratio Comparison

XLK has a 0.08% expense ratio, which is lower than FSPTX's 0.62% expense ratio.

Dividends

XLK vs. FSPTX - Dividend Comparison

XLK's dividend yield for the trailing twelve months is around 0.39%, less than FSPTX's 7.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSPTX Fidelity Select Technology Portfolio	7.37%	9.06%	9.42%	0.01%	3.95%	11.62%	18.86%	1.86%	23.77%	8.32%	1.54%	4.19%
XLK State Street Technology Select Sector SPDR ETF	0.39%	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 FSPTX in my portfolio?

With a correlation of 0.94, XLK and FSPTX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, XLK or FSPTX?

XLK has higher volatility (6.98%) compared to FSPTX (6.24%). In terms of maximum drawdown, XLK dropped -82.05% vs FSPTX's -84.37%.

Which has better risk-adjusted returns?

FSPTX currently has the higher Sharpe Ratio (4.04 vs 3.24), 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.