XLK vs. ISHG
XLK (State Street Technology Select Sector SPDR ETF) and ISHG (iShares 1-3 Year International Treasury Bond 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 ISHG is a International Government Bonds fund tracking the S&P/Citigroup International Treasury Bond Index Ex-US 1-3 Year. Both are passively managed. Over the past 10 years, XLK returned 25.48%/yr vs -0.31%/yr for ISHG. At a 0.15 correlation, their price movements are largely independent. XLK charges 0.08%/yr vs 0.35%/yr for ISHG.
Performance
XLK vs. ISHG - Performance Comparison
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Returns By Period
In the year-to-date period, XLK achieves a 28.25% return, which is significantly higher than ISHG's -1.71% return. Over the past 10 years, XLK has outperformed ISHG with an annualized return of 25.48%, while ISHG has yielded a comparatively lower -0.31% annualized return.
XLK
- 1D
- -4.14%
- 1M
- 2.23%
- YTD
- 28.25%
- 6M
- 26.51%
- 1Y
- 52.47%
- 3Y*
- 30.61%
- 5Y*
- 21.34%
- 10Y*
- 25.48%
ISHG
- 1D
- -0.34%
- 1M
- -1.79%
- YTD
- -1.71%
- 6M
- -1.87%
- 1Y
- -0.16%
- 3Y*
- 3.51%
- 5Y*
- -1.12%
- 10Y*
- -0.31%
XLK vs. ISHG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XLK State Street Technology Select Sector SPDR ETF | 28.25% | 24.61% | 21.63% | 56.02% | -27.73% | 34.74% | 43.62% | 49.86% | -1.68% | 34.26% |
ISHG iShares 1-3 Year International Treasury Bond ETF | -1.71% | 13.31% | -4.16% | 3.76% | -10.95% | -7.05% | 7.47% | -0.64% | -3.54% | 10.91% |
Correlation
The correlation between XLK and ISHG is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Jan 28, 2009 | 0.15 |
The correlation between XLK and ISHG shifts across timeframes, from 0.14 (10 years) to 0.29 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
XLK vs. ISHG — Risk / Return Rank
XLK
ISHG
XLK vs. ISHG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street Technology Select Sector SPDR ETF (XLK) and iShares 1-3 Year International Treasury Bond ETF (ISHG). 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 | ISHG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.27 | ||
| Sortino ratioReturn per unit of downside risk | +2.76 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.00 | +0.37 |
| Calmar ratioReturn relative to maximum drawdown | 3.31 | -0.03 | +3.34 |
| Martin ratioReturn relative to average drawdown | 10.56 | -0.07 | +10.64 |
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Drawdowns
XLK vs. ISHG - Drawdown Comparison
The maximum XLK drawdown since its inception was -82.05%, which is greater than ISHG's maximum drawdown of -37.24%. Use the drawdown chart below to compare losses from any high point for XLK and ISHG.
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Drawdown Indicators
| XLK | ISHG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.05% | -37.24% | -44.81% |
Max Drawdown (1Y)Largest decline over 1 year | -15.92% | -5.02% | -10.90% |
Max Drawdown (3Y)Largest decline over 3 years | -25.66% | -8.21% | -17.45% |
Max Drawdown (5Y)Largest decline over 5 years | -33.56% | -22.45% | -11.11% |
Max Drawdown (10Y)Largest decline over 10 years | -33.56% | -25.56% | -8.00% |
Current DrawdownCurrent decline from peak | -6.96% | -23.56% | +16.60% |
Average DrawdownAverage peak-to-trough decline | -34.90% | -18.44% | -16.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.98% | 2.13% | +2.85% |
Volatility
XLK vs. ISHG - Volatility Comparison
State Street Technology Select Sector SPDR ETF (XLK) has a higher volatility of 12.51% compared to iShares 1-3 Year International Treasury Bond ETF (ISHG) at 1.78%. This indicates that XLK's price experiences larger fluctuations and is considered to be riskier than ISHG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XLK | ISHG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.51% | 1.78% | +10.73% |
Volatility (6M)Calculated over the trailing 6-month period | 19.70% | 4.90% | +14.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.48% | 6.55% | +16.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.37% | 7.59% | +17.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.71% | 6.93% | +17.78% |
XLK vs. ISHG - Expense Ratio Comparison
XLK has a 0.08% expense ratio, which is lower than ISHG's 0.35% expense ratio.
Dividends
XLK vs. ISHG - Dividend Comparison
XLK's dividend yield for the trailing twelve months is around 0.43%, less than ISHG's 1.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ISHG iShares 1-3 Year International Treasury Bond ETF | 1.48% | 1.45% | 2.56% | 0.18% | 0.00% | 1.29% | 0.00% | 0.00% | 1.80% | 0.46% | 0.00% | 0.09% |
XLK State Street Technology Select Sector SPDR ETF | 0.43% | 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
XLK and ISHG have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XLK has higher volatility (12.51%) compared to ISHG (1.78%). In terms of maximum drawdown, XLK dropped -82.05% vs ISHG's -37.24%.
On 10-year performance, XLK leads with 25.48% vs -0.31% for ISHG. On fees, XLK is cheaper at 0.08% per year. On volatility, ISHG has been the lower-risk option at 1.78%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, XLK has performed better with a 25.48% return vs -0.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XLK is cheaper with a 0.08% expense ratio, compared with 0.35% for ISHG.
ISHG has the higher dividend yield at 1.48%, compared with 0.43% for XLK.
XLK is categorized as Technology Equities, while ISHG is International Government Bonds. XLK tracks S&P Technology Select Sector Daily Capped 35/20 Index, while ISHG tracks S&P/Citigroup International Treasury Bond Index Ex-US 1-3 Year. They also come from different issuers: State Street and iShares. Their fees differ too: 0.08% for XLK and 0.35% for ISHG.
XLK currently has the higher Sharpe Ratio (2.25 vs -0.02), 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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