XLKQ.L vs. NASDX

Last updated Jun 9, 2026

XLKQ.L (Invesco Technology S&P US Select Sector UCITS ETF GBP Acc) and NASDX (Shelton Capital Management Nasdaq-100 Index Fund Direct Shares) are both funds - XLKQ.L is a Technology Equities fund tracking the S&P Select Sector Capped 20% Technology Index, while NASDX is a Large Cap Growth Equities fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, XLKQ.L returned 26.77%/yr vs 22.94%/yr for NASDX. A 0.64 correlation means they provide meaningful diversification when combined. XLKQ.L charges 0.14%/yr vs 0.63%/yr for NASDX.

Performance

XLKQ.L vs. NASDX - 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 Shelton Capital Management Nasdaq-100 Index Fund Direct Shares (NASDX). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, XLKQ.L achieves a 20.44% return, which is significantly higher than NASDX's 15.84% return. Over the past 10 years, XLKQ.L has outperformed NASDX with an annualized return of 26.77%, while NASDX has yielded a comparatively lower 22.94% annualized return.

XLKQ.L

• 1D: -0.03%
• 1M: 6.65%
• YTD: 20.44%
• 6M: 17.20%
• 1Y: 49.26%
• 3Y*: 32.80%
• 5Y*: 25.71%
• 10Y*: 26.77%

NASDX

• 1D: -4.16%
• 1M: 1.30%
• YTD: 15.84%
• 6M: 13.03%
• 1Y: 35.44%
• 3Y*: 27.08%
• 5Y*: 20.08%
• 10Y*: 22.94%

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

XLKQ.L vs. NASDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XLKQ.L Invesco Technology S&P US Select Sector UCITS ETF GBP Acc	20.44%	15.76%	44.03%	51.84%	-20.58%	36.28%	37.93%	44.38%	2.54%	21.82%
NASDX Shelton Capital Management Nasdaq-100 Index Fund Direct Shares	15.84%	12.38%	39.30%	46.95%	-24.55%	28.52%	44.23%	32.96%	4.65%	19.91%

Correlation

The correlation between XLKQ.L and NASDX is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (10Y) Calculated over the trailing 10-year period	0.61
Correlation (All Time) Calculated using the full available price history since Dec 16, 2009	0.64

The correlation between XLKQ.L and NASDX has been stable across timeframes, ranging from 0.61 to 0.68 - a consistent structural relationship.

Return for Risk

XLKQ.L vs. NASDX — 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: 72
XLKQ.L Sharpe Ratio Rank: 85
XLKQ.L Sortino Ratio Rank: 81
XLKQ.L Omega Ratio Rank: 78
XLKQ.L Calmar Ratio Rank: 64
XLKQ.L Martin Ratio Rank: 49

NASDX

NASDX Risk / Return Rank: 54
NASDX Sharpe Ratio Rank: 54
NASDX Sortino Ratio Rank: 44
NASDX Omega Ratio Rank: 49
NASDX Calmar Ratio Rank: 64
NASDX Martin Ratio Rank: 59

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. NASDX - 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 Shelton Capital Management Nasdaq-100 Index Fund Direct Shares (NASDX). 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	NASDX	Difference
Sharpe ratio: Return per unit of total volatility	2.53	2.34	+0.18
Sortino ratio: Return per unit of downside risk	3.25	2.96	+0.29
Omega ratio: Gain probability vs. loss probability	1.41	1.42	0.00
Calmar ratio: Return relative to maximum drawdown	2.93	3.17	-0.24
Martin ratio: Return relative to average drawdown	7.59	9.66	-2.07
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. NASDX - Sharpe Ratio Comparison

The current XLKQ.L Sharpe Ratio is 2.53, which is comparable to the NASDX Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of XLKQ.L and NASDX, 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	NASDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.53	2.34	+0.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.98	0.92	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.14	1.02	+0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.80	0.85	-0.05

Drawdowns

XLKQ.L vs. NASDX - Drawdown Comparison

The maximum XLKQ.L drawdown since its inception was -38.43%, which is greater than NASDX's maximum drawdown of -33.98%. Use the drawdown chart below to compare losses from any high point for XLKQ.L and NASDX.

Drawdown Indicators

	XLKQ.L	NASDX	Difference
Max Drawdown Largest peak-to-trough decline	-38.43%	-33.98%	-4.45%
Max Drawdown (1Y) Largest decline over 1 year	-16.76%	-11.83%	-4.93%
Max Drawdown (3Y) Largest decline over 3 years	-28.74%	-24.81%	-3.93%
Max Drawdown (5Y) Largest decline over 5 years	-28.74%	-28.03%	-0.71%
Max Drawdown (10Y) Largest decline over 10 years	-28.74%	-28.03%	-0.71%
Current Drawdown Current decline from peak	-5.48%	-4.68%	-0.80%
Average Drawdown Average peak-to-trough decline	-8.08%	-5.43%	-2.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.47%	3.87%	+2.60%

Volatility

XLKQ.L vs. NASDX - Volatility Comparison

Invesco Technology S&P US Select Sector UCITS ETF GBP Acc (XLKQ.L) has a higher volatility of 7.40% compared to Shelton Capital Management Nasdaq-100 Index Fund Direct Shares (NASDX) at 5.95%. This indicates that XLKQ.L's price experiences larger fluctuations and is considered to be riskier than NASDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XLKQ.L	NASDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.40%	5.95%	+1.45%
Volatility (6M) Calculated over the trailing 6-month period	14.52%	11.81%	+2.71%
Volatility (1Y) Calculated over the trailing 1-year period	19.43%	16.03%	+3.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.15%	21.83%	+4.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.38%	22.60%	+0.78%

XLKQ.L vs. NASDX - Expense Ratio Comparison

XLKQ.L has a 0.14% expense ratio, which is lower than NASDX's 0.63% expense ratio.

Dividends

XLKQ.L vs. NASDX - Dividend Comparison

XLKQ.L has not paid dividends to shareholders, while NASDX's dividend yield for the trailing twelve months is around 3.16%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NASDX Shelton Capital Management Nasdaq-100 Index Fund Direct Shares	3.16%	3.76%	16.95%	7.61%	3.75%	2.59%	1.28%	7.09%	2.47%	1.65%	0.75%	0.85%
XLKQ.L Invesco Technology S&P US Select Sector UCITS ETF GBP Acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

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

XLKQ.L and NASDX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.