XLK vs. SHV
XLK (State Street Technology Select Sector SPDR ETF) and SHV (iShares 0-1 Year 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 SHV is a Government Bonds fund tracking the ICE Short US Treasury Securities Index. Both are passively managed. Over the past 10 years, XLK returned 25.04%/yr vs 2.23%/yr for SHV. At a correlation of -0.04, they often move in opposite directions. XLK charges 0.08%/yr vs 0.15%/yr for SHV.
Performance
XLK vs. SHV - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, XLK achieves a 28.09% return, which is significantly higher than SHV's 1.47% return. Over the past 10 years, XLK has outperformed SHV with an annualized return of 25.04%, while SHV has yielded a comparatively lower 2.23% annualized return.
XLK
- 1D
- 2.15%
- 1M
- 4.93%
- YTD
- 28.09%
- 6M
- 25.10%
- 1Y
- 55.42%
- 3Y*
- 31.33%
- 5Y*
- 22.26%
- 10Y*
- 25.04%
SHV
- 1D
- 0.01%
- 1M
- 0.26%
- YTD
- 1.47%
- 6M
- 1.74%
- 1Y
- 3.90%
- 3Y*
- 4.63%
- 5Y*
- 3.33%
- 10Y*
- 2.23%
XLK vs. SHV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XLK State Street Technology Select Sector SPDR ETF | 28.09% | 24.61% | 21.63% | 56.02% | -27.73% | 34.74% | 43.62% | 49.86% | -1.68% | 34.26% |
SHV iShares 0-1 Year Treasury Bond ETF | 1.47% | 4.21% | 5.12% | 5.04% | 0.94% | -0.10% | 0.81% | 2.36% | 1.72% | 0.67% |
Correlation
The correlation between XLK and SHV is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2007 | -0.04 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
XLK vs. SHV — Risk / Return Rank
XLK
SHV
XLK vs. SHV - 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 0-1 Year Treasury Bond ETF (SHV). 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 | SHV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -16.96 | ||
| Sortino ratioReturn per unit of downside risk | -146.49 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 53.77 | -52.35 |
| Calmar ratioReturn relative to maximum drawdown | 3.50 | 431.38 | -427.88 |
| Martin ratioReturn relative to average drawdown | 11.58 | 2,419.80 | -2,408.22 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| XLK | SHV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.53 | 19.49 | -16.96 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.89 | 11.62 | -10.73 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.02 | 8.09 | -7.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 4.50 | -4.10 |
Drawdowns
XLK vs. SHV - Drawdown Comparison
The maximum XLK drawdown since its inception was -82.05%, which is greater than SHV's maximum drawdown of -0.45%. Use the drawdown chart below to compare losses from any high point for XLK and SHV.
Loading charts...
Drawdown Indicators
| XLK | SHV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.05% | -0.45% | -81.60% |
Max Drawdown (1Y)Largest decline over 1 year | -15.92% | -0.01% | -15.91% |
Max Drawdown (3Y)Largest decline over 3 years | -25.66% | -0.03% | -25.63% |
Max Drawdown (5Y)Largest decline over 5 years | -33.56% | -0.39% | -33.17% |
Max Drawdown (10Y)Largest decline over 10 years | -33.56% | -0.45% | -33.11% |
Current DrawdownCurrent decline from peak | -7.08% | 0.00% | -7.08% |
Average DrawdownAverage peak-to-trough decline | -34.95% | -0.03% | -34.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.80% | 0.00% | +4.80% |
Volatility
XLK vs. SHV - Volatility Comparison
State Street Technology Select Sector SPDR ETF (XLK) has a higher volatility of 10.42% compared to iShares 0-1 Year Treasury Bond ETF (SHV) at 0.05%. This indicates that XLK's price experiences larger fluctuations and is considered to be riskier than SHV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| XLK | SHV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.42% | 0.05% | +10.37% |
Volatility (6M)Calculated over the trailing 6-month period | 18.32% | 0.12% | +18.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.08% | 0.20% | +21.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.10% | 0.29% | +24.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.60% | 0.28% | +24.32% |
XLK vs. SHV - Expense Ratio Comparison
XLK has a 0.08% expense ratio, which is lower than SHV's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
XLK vs. SHV - Dividend Comparison
XLK's dividend yield for the trailing twelve months is around 0.41%, less than SHV's 3.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHV iShares 0-1 Year Treasury Bond ETF | 3.83% | 4.09% | 5.02% | 4.73% | 1.39% | 0.00% | 0.74% | 2.19% | 1.66% | 0.72% | 0.34% | 0.03% |
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 SHV have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XLK has higher volatility (10.42%) compared to SHV (0.05%). In terms of maximum drawdown, XLK dropped -82.05% vs SHV's -0.45%.
On 10-year performance, XLK leads with 25.04% vs 2.23% for SHV. On fees, XLK is cheaper at 0.08% per year. On volatility, SHV has been the lower-risk option at 0.05%. 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 25.04% return vs 2.23%. 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 0.15% for SHV.
SHV has the higher dividend yield at 3.83%, compared with 0.41% for XLK.
XLK is categorized as Technology Equities, while SHV is Government Bonds. XLK tracks S&P Technology Select Sector Daily Capped 35/20 Index, while SHV tracks ICE Short US Treasury Securities Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.08% for XLK and 0.15% for SHV.
SHV currently has the higher Sharpe Ratio (19.49 vs 2.53), 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.
Find the right allocation for XLK and SHV
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