XLK vs. MOON

Last updated Jun 23, 2026

XLK (State Street Technology Select Sector SPDR ETF) and MOON (Direxion Moonshot Innovators ETF) are both Technology Equities funds - XLK tracks the S&P Technology Select Sector Daily Capped 35/20 Index while MOON tracks the S&P Kensho Moonshots Index. Both are passively managed. At a 0.28 correlation, their price movements are largely independent. XLK charges 0.08%/yr vs 0.65%/yr for MOON.

Performance

XLK vs. MOON - Performance Comparison

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

Returns By Period

XLK

• 1D: 0.49%
• 1M: 6.65%
• YTD: 33.79%
• 6M: 32.69%
• 1Y: 60.87%
• 3Y*: 32.46%
• 5Y*: 22.53%
• 10Y*: 26.01%

MOON

• 1D: -5.49%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XLK vs. MOON - Yearly Performance Comparison

	2026 (YTD)
XLK State Street Technology Select Sector SPDR ETF	6.70%
MOON Direxion Moonshot Innovators ETF	-15.19%

Correlation

The correlation between XLK and MOON is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 8, 2026	0.28

XLK vs. MOON - Sectors Allocation Comparison

Sectors	XLK	MOON
Technology	99.7%	42.4%
Energy	0.2%	-
Industrials	0.1%	7.5%
Basic Materials	-	1.2%
Communication Services	-	9.3%
Consumer Cyclical	-	11.9%
Consumer Defensive	-	-
Financial Services	-	4.2%
Healthcare	-	23.5%
Real Estate	-	-
Utilities	-	-

Return for Risk

XLK vs. MOON — Risk / Return Rank

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

XLK

XLK Risk / Return Rank: 77
XLK Sharpe Ratio Rank: 86
XLK Sortino Ratio Rank: 75
XLK Omega Ratio Rank: 77
XLK Calmar Ratio Rank: 78
XLK Martin Ratio Rank: 69

MOON

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. MOON - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Technology Select Sector SPDR ETF (XLK) and Direxion Moonshot Innovators ETF (MOON). 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	MOON	Difference
Sharpe ratio: Return per unit of total volatility	2.65	—	—
Sortino ratio: Return per unit of downside risk	3.20	—	—
Omega ratio: Gain probability vs. loss probability	1.43	—	—
Calmar ratio: Return relative to maximum drawdown	3.84	—	—
Martin ratio: Return relative to average drawdown	12.30	—	—

Drawdowns

XLK vs. MOON - Drawdown Comparison

The maximum XLK drawdown since its inception was -82.05%, which is greater than MOON's maximum drawdown of -15.19%. Use the drawdown chart below to compare losses from any high point for XLK and MOON.

Drawdown Indicators

	XLK	MOON	Difference
Max Drawdown Largest peak-to-trough decline	-82.05%	-15.19%	-66.86%
Max Drawdown (1Y) Largest decline over 1 year	-15.92%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-25.66%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-33.56%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-33.56%	—	—
Current Drawdown Current decline from peak	-2.94%	-15.19%	+12.25%
Average Drawdown Average peak-to-trough decline	-34.90%	-10.52%	-24.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.96%	—	—

Volatility

Volatility by Period

	XLK	MOON	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.64%	—	—
Volatility (6M) Calculated over the trailing 6-month period	19.23%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	23.12%	13.68%	+9.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.30%	13.68%	+11.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.71%	13.68%	+11.03%

XLK vs. MOON - Expense Ratio Comparison

XLK has a 0.08% expense ratio, which is lower than MOON's 0.65% expense ratio.

Dividends

XLK vs. MOON - Dividend Comparison

XLK's dividend yield for the trailing twelve months is around 0.52%, while MOON has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MOON Direxion Moonshot Innovators ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XLK State Street Technology Select Sector SPDR ETF	0.52%	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 MOON in my portfolio?

XLK and MOON have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XLK or MOON?

On fees, XLK is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XLK or MOON?

XLK is cheaper with a 0.08% expense ratio, compared with 0.65% for MOON.

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

XLK has the higher dividend yield at 0.52%, compared with 0.00% for MOON.

What is the main difference between XLK and MOON?

XLK tracks S&P Technology Select Sector Daily Capped 35/20 Index, while MOON tracks S&P Kensho Moonshots Index. They also come from different issuers: State Street and Direxion. Their fees differ too: 0.08% for XLK and 0.65% for MOON.