XLKQ.L vs. GXLK.L

Last updated Jun 5, 2026

XLKQ.L (Invesco Technology S&P US Select Sector UCITS ETF GBP Acc) and GXLK.L (SPDR S&P US Technology Select Sector UCITS ETF) are both Technology Equities funds - XLKQ.L tracks the S&P Select Sector Capped 20% Technology Index while GXLK.L tracks the MSCI World/Information Tech NR USD. Both are passively managed. Over the past 3 years, XLKQ.L returned 33.18%/yr vs 26.51%/yr for GXLK.L. With a 0.98 correlation, they move nearly in lockstep. XLKQ.L charges 0.14%/yr vs 0.15%/yr for GXLK.L.

Performance

XLKQ.L vs. GXLK.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco Technology S&P US Select Sector UCITS ETF GBP Acc (XLKQ.L) and SPDR S&P US Technology Select Sector UCITS ETF (GXLK.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

XLKQ.L is traded in GBp, while GXLK.L is traded in GBP. To make them comparable, the GXLK.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

The year-to-date returns for both stocks are quite close, with XLKQ.L having a 23.81% return and GXLK.L slightly lower at 23.38%.

XLKQ.L

• 1D: -2.23%
• 1M: 12.27%
• YTD: 23.81%
• 6M: 21.73%
• 1Y: 53.44%
• 3Y*: 33.18%
• 5Y*: 26.60%
• 10Y*: 27.22%

GXLK.L

• 1D: -2.05%
• 1M: 14.24%
• YTD: 23.38%
• 6M: 22.20%
• 1Y: 53.75%
• 3Y*: 26.51%
• 5Y*: —
• 10Y*: —

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

XLKQ.L vs. GXLK.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
XLKQ.L Invesco Technology S&P US Select Sector UCITS ETF GBP Acc	23.81%	15.76%	44.03%	51.84%	-15.93%
GXLK.L SPDR S&P US Technology Select Sector UCITS ETF	23.38%	15.88%	24.73%	48.31%	-16.12%

Correlation

The correlation between XLKQ.L and GXLK.L is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (All Time) Calculated using the full available price history since Apr 5, 2022	0.98

The correlation between XLKQ.L and GXLK.L has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.

Return for Risk

XLKQ.L vs. GXLK.L — Risk / Return Rank

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

XLKQ.L

XLKQ.L Risk / Return Rank: 73
XLKQ.L Sharpe Ratio Rank: 86
XLKQ.L Sortino Ratio Rank: 81
XLKQ.L Omega Ratio Rank: 78
XLKQ.L Calmar Ratio Rank: 66
XLKQ.L Martin Ratio Rank: 51

GXLK.L

GXLK.L Risk / Return Rank: 72
GXLK.L Sharpe Ratio Rank: 85
GXLK.L Sortino Ratio Rank: 80
GXLK.L Omega Ratio Rank: 78
GXLK.L Calmar Ratio Rank: 66
GXLK.L Martin Ratio Rank: 50

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.

XLKQ.L vs. GXLK.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Technology S&P US Select Sector UCITS ETF GBP Acc (XLKQ.L) and SPDR S&P US Technology Select Sector UCITS ETF (GXLK.L). 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.

	XLKQ.L	GXLK.L	Difference
Sharpe ratio: Return per unit of total volatility	2.83	2.77	+0.06
Sortino ratio: Return per unit of downside risk	3.59	3.53	+0.07
Omega ratio: Gain probability vs. loss probability	1.46	1.46	+0.01
Calmar ratio: Return relative to maximum drawdown	3.24	3.21	+0.03
Martin ratio: Return relative to average drawdown	8.42	8.20	+0.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XLKQ.L vs. GXLK.L - Sharpe Ratio Comparison

The current XLKQ.L Sharpe Ratio is 2.83, which is comparable to the GXLK.L Sharpe Ratio of 2.77. The chart below compares the historical Sharpe Ratios of XLKQ.L and GXLK.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	XLKQ.L	GXLK.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.83	2.77	+0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.21	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.33	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.33	0.79	+0.54

Drawdowns

XLKQ.L vs. GXLK.L - Drawdown Comparison

The maximum XLKQ.L drawdown since its inception was -28.74%, roughly equal to the maximum GXLK.L drawdown of -28.24%. Use the drawdown chart below to compare losses from any high point for XLKQ.L and GXLK.L.

Drawdown Indicators

	XLKQ.L	GXLK.L	Difference
Max Drawdown Largest peak-to-trough decline	-28.74%	-28.24%	-0.50%
Max Drawdown (1Y) Largest decline over 1 year	-16.76%	-16.67%	-0.09%
Max Drawdown (3Y) Largest decline over 3 years	-28.74%	-28.24%	-0.50%
Max Drawdown (5Y) Largest decline over 5 years	-28.74%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-28.74%	—	—
Current Drawdown Current decline from peak	-2.84%	-2.76%	-0.08%
Average Drawdown Average peak-to-trough decline	-5.04%	-7.64%	+2.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.45%	6.54%	-0.09%

Volatility

XLKQ.L vs. GXLK.L - Volatility Comparison

Invesco Technology S&P US Select Sector UCITS ETF GBP Acc (XLKQ.L) and SPDR S&P US Technology Select Sector UCITS ETF (GXLK.L) have volatilities of 6.83% and 6.90%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XLKQ.L	GXLK.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.83%	6.90%	-0.07%
Volatility (6M) Calculated over the trailing 6-month period	14.29%	14.09%	+0.20%
Volatility (1Y) Calculated over the trailing 1-year period	19.18%	19.32%	-0.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.04%	26.83%	-4.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.65%	26.83%	-5.18%

XLKQ.L vs. GXLK.L - Expense Ratio Comparison

XLKQ.L has a 0.14% expense ratio, which is lower than GXLK.L'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

XLKQ.L vs. GXLK.L - Dividend Comparison

Neither XLKQ.L nor GXLK.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XLKQ.L and GXLK.L in my portfolio?

With a correlation of 0.99, XLKQ.L and GXLK.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, XLKQ.L or GXLK.L?

On fees, XLKQ.L is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XLKQ.L or GXLK.L?

XLKQ.L is cheaper with a 0.14% expense ratio, compared with 0.15% for GXLK.L.

What is the main difference between XLKQ.L and GXLK.L?

XLKQ.L tracks S&P Select Sector Capped 20% Technology Index, while GXLK.L tracks MSCI World/Information Tech NR USD. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.14% for XLKQ.L and 0.15% for GXLK.L.