PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
XLK vs. NA.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XLK vs. NA.TO

Last updated Jun 14, 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 NA.TO (National Bank of Canada) is a stock. Over the past 10 years, XLK returned 25.19%/yr vs 20.45%/yr for NA.TO. At a 0.35 correlation, their price movements are largely independent.

Performance

XLK vs. NA.TO - Performance Comparison

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

Loading charts...

Different Trading Currencies

XLK is traded in USD, while NA.TO is traded in CAD. To make them comparable, the NA.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XLK achieves a 28.52% return, which is significantly higher than NA.TO's 19.97% return. Over the past 10 years, XLK has outperformed NA.TO with an annualized return of 25.19%, while NA.TO has yielded a comparatively lower 20.45% annualized return.

XLK

1D
0.87%
1M
2.95%
YTD
28.52%
6M
28.96%
1Y
55.42%
3Y*
30.28%
5Y*
22.02%
10Y*
25.19%

NA.TO

1D
0.43%
1M
0.71%
YTD
19.97%
6M
21.53%
1Y
55.42%
3Y*
31.81%
5Y*
19.02%
10Y*
20.45%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XLK vs. NA.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XLK
State Street Technology Select Sector SPDR ETF		28.52%24.61%21.63%56.02%-27.73%34.74%43.62%49.86%-1.68%34.26%
NA.TO
National Bank of Canada		19.97%42.66%24.14%18.35%-7.33%39.09%6.54%39.80%-14.14%28.47%

Correlation

The correlation between XLK and NA.TO is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.32

Correlation (3Y)
Calculated over the trailing 3-year period

0.28

Correlation (5Y)
Calculated over the trailing 5-year period

0.33

Correlation (10Y)
Calculated over the trailing 10-year period

0.29

Correlation (All Time)
Calculated using the full available price history since Jul 12, 2006

0.35

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

State Street Technology Select Sector SPDR ETF

National Bank of Canada

Often compared with XLK:
XLK vs. QQQXLK vs. VGTXLK vs. SMHXLK vs. SPYXLK vs. FTECXLK vs. XLEXLK vs. IYW
Often compared with NA.TO:
NA.TO vs. BNS.TONA.TO vs. CM.TONA.TO vs. PSLVNA.TO vs. AEM.TONA.TO vs. GOLD.TONA.TO vs. BTO.TONA.TO vs. ING

Return for Risk

XLK vs. NA.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XLK
XLK Risk / Return Rank: 7676
Overall Rank
XLK Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
XLK Sortino Ratio Rank: 7676
Sortino Ratio Rank
XLK Omega Ratio Rank: 7878
Omega Ratio Rank
XLK Calmar Ratio Rank: 7575
Calmar Ratio Rank
XLK Martin Ratio Rank: 6868
Martin Ratio Rank
NA.TO
NA.TO Risk / Return Rank: 9797
Overall Rank
NA.TO Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
NA.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
NA.TO Omega Ratio Rank: 9898
Omega Ratio Rank
NA.TO Calmar Ratio Rank: 9595
Calmar Ratio Rank
NA.TO Martin Ratio Rank: 9797
Martin Ratio Rank
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. NA.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Technology Select Sector SPDR ETF (XLK) and National Bank of Canada (NA.TO). 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.

XLKNA.TODifference
Sharpe ratioReturn per unit of total volatility
2.37
3.39

-1.02

Sortino ratioReturn per unit of downside risk
2.92
4.55

-1.64

Omega ratioGain probability vs. loss probability

1.39

1.61

-0.22

Calmar ratioReturn relative to maximum drawdown

3.36

5.85

-2.49

Martin ratioReturn relative to average drawdown

10.85

19.65

-8.80

XLK vs. NA.TO - Sharpe Ratio Comparison

The current XLK Sharpe Ratio is 2.37, which is lower than the NA.TO Sharpe Ratio of 3.39. The chart below compares the historical Sharpe Ratios of XLK and NA.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

XLK vs. NA.TO - Drawdown Comparison

The maximum XLK drawdown since its inception was -82.05%, which is greater than NA.TO's maximum drawdown of -60.25%. Use the drawdown chart below to compare losses from any high point for XLK and NA.TO.

Loading charts...

Drawdown Indicators

XLKNA.TODifference

Max Drawdown

Largest peak-to-trough decline

-82.05%

-60.25%

-21.80%

Max Drawdown (1Y)

Largest decline over 1 year

-15.92%

-9.74%

-6.18%

Max Drawdown (3Y)

Largest decline over 3 years

-25.66%

-23.63%

-2.03%

Max Drawdown (5Y)

Largest decline over 5 years

-33.56%

-25.64%

-7.92%

Max Drawdown (10Y)

Largest decline over 10 years

-33.56%

-52.59%

+19.03%

Current Drawdown

Current decline from peak

-6.77%

-2.88%

-3.89%

Average Drawdown

Average peak-to-trough decline

-34.93%

-9.09%

-25.84%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.92%

2.89%

+2.03%

Volatility

XLK vs. NA.TO - Volatility Comparison

State Street Technology Select Sector SPDR ETF (XLK) has a higher volatility of 10.86% compared to National Bank of Canada (NA.TO) at 5.98%. This indicates that XLK's price experiences larger fluctuations and is considered to be riskier than NA.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

XLKNA.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

10.86%

5.98%

+4.88%

Volatility (6M)

Calculated over the trailing 6-month period

18.92%

14.12%

+4.80%

Volatility (1Y)

Calculated over the trailing 1-year period

22.55%

16.79%

+5.76%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

25.18%

18.83%

+6.35%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

24.64%

22.22%

+2.42%

Dividends

XLK vs. NA.TO - Dividend Comparison

XLK's dividend yield for the trailing twelve months is around 0.41%, less than NA.TO's 2.31% yield.

PositionTTM20252024202320222021202020192018201720162015
NA.TO
National Bank of Canada		2.31%2.75%3.36%4.03%4.03%3.11%3.96%3.77%4.44%3.70%4.03%5.16%
XLK
State Street Technology Select Sector SPDR ETF		0.41%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 NA.TO have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Portfolio Optimizer

Find the right allocation for XLK and NA.TO

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer