XLK vs. FTXL

Last updated Aug 5, 2026

XLK (State Street Technology Select Sector SPDR ETF) and FTXL (First Trust Nasdaq Semiconductor ETF) are both exchange-traded funds - XLK is a Technology Equities fund tracking the S&P Technology Select Sector Daily Capped 35/20 Index, while FTXL is a Semiconductors fund tracking the Nasdaq U.S. Smart Semiconductor Index. Both are passively managed. Over the past 5 years, XLK returned 20.15%/yr vs 28.36%/yr for FTXL. Their correlation of 0.82 means they have usually moved in the same direction. XLK charges 0.08%/yr vs 0.60%/yr for FTXL.

Performance

XLK vs. FTXL - Performance Comparison

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

Returns By Period

In the year-to-date period, XLK achieves a 30.13% return, which is significantly lower than FTXL's 81.48% return.

XLK

• 1D: 4.98%
• 1M: 3.49%
• 6M: 31.87%
• YTD: 30.13%
• 1Y: 43.26%
• 3Y*: 30.60%
• 5Y*: 20.15%
• 10Y*: 24.33%
• ALL TIME*: 10.46%

FTXL

• 1D: 7.52%
• 1M: -6.11%
• 6M: 53.51%
• YTD: 81.48%
• 1Y: 143.42%
• 3Y*: 48.94%
• 5Y*: 28.36%
• 10Y*: —
• ALL TIME*: 29.02%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FTXL First Trust Nasdaq Semiconductor ETF	$143.23M	$96.82M	$85.90M
XLK State Street Technology Select Sector SPDR ETF	$1.76B	$1.67B	$2.24B

XLK vs. FTXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XLK State Street Technology Select Sector SPDR ETF	30.13%	24.61%	21.63%	56.02%	-27.73%	34.74%	43.62%	49.86%	-1.68%	34.26%
FTXL First Trust Nasdaq Semiconductor ETF	81.48%	48.94%	7.59%	54.41%	-33.88%	36.04%	46.08%	61.77%	-14.47%	32.19%

Correlation

The correlation between XLK and FTXL is 0.84, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.84
Correlation (3Y) Balances recent behavior with more history.	0.85
Correlation (5Y) Shows whether the relationship held over a longer period.	0.86
Correlation (All Time) Calculated using the full available price history since Sep 21, 2016	0.82

The correlation between XLK and FTXL has been stable across timeframes, ranging from 0.82 to 0.86 - a consistent structural relationship.

XLK vs. FTXL - Sectors Allocation Comparison

Sectors	XLK	FTXL
Technology	99.1%	99.6%
Communication Services	0.9%	-
Energy	0.2%	-
Industrials	0.1%	0.4%
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

XLK vs. FTXL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

XLK

XLK Risk / Return Rank: 61
XLK Sharpe Ratio Rank: 64
XLK Sortino Ratio Rank: 58
XLK Omega Ratio Rank: 58
XLK Calmar Ratio Rank: 70
XLK Martin Ratio Rank: 56

FTXL

FTXL Risk / Return Rank: 91
FTXL Sharpe Ratio Rank: 96
FTXL Sortino Ratio Rank: 88
FTXL Omega Ratio Rank: 88
FTXL Calmar Ratio Rank: 91
FTXL Martin Ratio Rank: 93

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

XLK vs. FTXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Technology Select Sector SPDR ETF (XLK) and First Trust Nasdaq Semiconductor ETF (FTXL). 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	FTXL	Difference
Sharpe ratio: Return per unit of total volatility	1.68	3.09	-1.41
Sortino ratio: Return per unit of downside risk	2.25	3.23	-0.98
Omega ratio: Gain probability vs. loss probability	1.28	1.43	-0.14
Calmar ratio: Return relative to maximum drawdown	2.73	4.42	-1.69
Martin ratio: Return relative to average drawdown	7.35	18.46	-11.11

XLK vs. FTXL - Sharpe Ratio Comparison

The current XLK Sharpe Ratio is 1.68, which is lower than the FTXL Sharpe Ratio of 3.09. The chart below compares the historical Sharpe Ratios of XLK and FTXL, 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. FTXL - Drawdown Comparison

The maximum XLK drawdown since its inception was -82.05%, which is greater than FTXL's maximum drawdown of -43.87%. Use the drawdown chart below to compare losses from any high point for XLK and FTXL.

Drawdown Indicators

	XLK	FTXL	Difference
Max Drawdown Largest peak-to-trough decline	-82.05%	-43.87%	-38.18%
Max Drawdown (1Y) Largest decline over 1 year	-15.92%	-32.64%	+16.72%
Max Drawdown (3Y) Largest decline over 3 years	-25.66%	-41.57%	+15.91%
Max Drawdown (5Y) Largest decline over 5 years	-33.56%	-43.87%	+10.31%
Max Drawdown (10Y) Largest decline over 10 years	-33.56%	—	—
Current Drawdown Current decline from peak	-5.59%	-20.87%	+15.28%
Average Drawdown Average peak-to-trough decline	-34.79%	-10.62%	-24.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.90%	7.80%	-1.90%

Volatility

XLK vs. FTXL - Volatility Comparison

The current volatility for State Street Technology Select Sector SPDR ETF (XLK) is 10.47%, while First Trust Nasdaq Semiconductor ETF (FTXL) has a volatility of 19.65%. This indicates that XLK experiences smaller price fluctuations and is considered to be less risky than FTXL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XLK	FTXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.47%	19.65%	-9.18%
Volatility (6M) Calculated over the trailing 6-month period	22.23%	40.24%	-18.01%
Volatility (1Y) Calculated over the trailing 1-year period	25.96%	46.65%	-20.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.86%	38.38%	-12.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.96%	35.35%	-10.39%

XLK vs. FTXL - Expense Ratio Comparison

XLK has a 0.08% expense ratio, which is lower than FTXL's 0.60% expense ratio.

Dividends

XLK vs. FTXL - Dividend Comparison

XLK's dividend yield for the trailing twelve months is around 0.42%, more than FTXL's 0.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTXL First Trust Nasdaq Semiconductor ETF	0.10%	0.28%	0.54%	0.60%	0.89%	0.25%	0.48%	0.92%	0.71%	0.47%	0.12%	0.00%
XLK State Street Technology Select Sector SPDR ETF	0.42%	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 FTXL in my portfolio?

XLK and FTXL have a correlation of 0.84, 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 FTXL?

FTXL has higher volatility (19.65%) compared to XLK (10.47%). In terms of maximum drawdown, XLK dropped -82.05% vs FTXL's -43.87%.

Which ETF is better, XLK or FTXL?

On 5-year performance, FTXL leads with 28.36% vs 20.15% for XLK. On fees, XLK is cheaper at 0.08% per year. On volatility, XLK has been the lower-risk option at 10.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XLK or FTXL?

Over the 5-year period, FTXL has performed better with a 28.36% return vs 20.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XLK or FTXL?

XLK is cheaper with a 0.08% expense ratio, compared with 0.60% for FTXL.

Which ETF pays a higher dividend yield, XLK or FTXL?

XLK has the higher dividend yield at 0.42%, compared with 0.10% for FTXL.

What is the main difference between XLK and FTXL?

XLK is categorized as Technology Equities, while FTXL is Semiconductors. XLK tracks S&P Technology Select Sector Daily Capped 35/20 Index, while FTXL tracks Nasdaq U.S. Smart Semiconductor Index. They also come from different issuers: State Street and First Trust. Their fees differ too: 0.08% for XLK and 0.60% for FTXL.

Which has better risk-adjusted returns?

FTXL currently has the higher Sharpe Ratio (3.09 vs 1.68), 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.