XNGS.L vs. GXLK.L

Last updated Jun 5, 2026

XNGS.L (Xtrackers MSCI Next Generation Internet Innovation UCITS ETF 1C) and GXLK.L (SPDR S&P US Technology Select Sector UCITS ETF) are both Technology Equities funds tracking the MSCI World/Information Tech NR USD, from DWS and State Street respectively. Both are passively managed. Over the past 3 years, XNGS.L returned 27.39%/yr vs 26.51%/yr for GXLK.L. Their correlation of 0.89 suggests significant overlap in exposure. XNGS.L charges 0.35%/yr vs 0.15%/yr for GXLK.L.

Performance

XNGS.L vs. GXLK.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Xtrackers MSCI Next Generation Internet Innovation UCITS ETF 1C (XNGS.L) and SPDR S&P US Technology Select Sector UCITS ETF (GXLK.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XNGS.L achieves a 17.59% return, which is significantly lower than GXLK.L's 23.38% return.

XNGS.L

• 1D: -0.89%
• 1M: 12.71%
• YTD: 17.59%
• 6M: 15.55%
• 1Y: 34.17%
• 3Y*: 27.39%
• 5Y*: —
• 10Y*: —

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)

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

	2026 (YTD)	2025	2024	2023	2022
XNGS.L Xtrackers MSCI Next Generation Internet Innovation UCITS ETF 1C	17.59%	11.63%	38.09%	48.85%	-12.98%
GXLK.L SPDR S&P US Technology Select Sector UCITS ETF	23.38%	15.88%	24.73%	48.31%	-9.91%

Correlation

The correlation between XNGS.L and GXLK.L is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (All Time) Calculated using the full available price history since Jul 21, 2022	0.89

The correlation between XNGS.L and GXLK.L has been stable across timeframes, ranging from 0.87 to 0.89 - a consistent structural relationship.

Return for Risk

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

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

XNGS.L

XNGS.L Risk / Return Rank: 48
XNGS.L Sharpe Ratio Rank: 60
XNGS.L Sortino Ratio Rank: 57
XNGS.L Omega Ratio Rank: 57
XNGS.L Calmar Ratio Rank: 35
XNGS.L Martin Ratio Rank: 30

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.

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

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Next Generation Internet Innovation UCITS ETF 1C (XNGS.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.

	XNGS.L	GXLK.L	Difference
Sharpe ratio: Return per unit of total volatility	2.00	2.77	-0.76
Sortino ratio: Return per unit of downside risk	2.71	3.53	-0.82
Omega ratio: Gain probability vs. loss probability	1.35	1.46	-0.11
Calmar ratio: Return relative to maximum drawdown	1.69	3.21	-1.52
Martin ratio: Return relative to average drawdown	4.24	8.20	-3.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current XNGS.L Sharpe Ratio is 2.00, which is comparable to the GXLK.L Sharpe Ratio of 2.77. The chart below compares the historical Sharpe Ratios of XNGS.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

	XNGS.L	GXLK.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.00	2.77	-0.76
Sharpe Ratio (All Time) Calculated using the full available price history	1.24	0.79	+0.46

Drawdowns

XNGS.L vs. GXLK.L - Drawdown Comparison

The maximum XNGS.L drawdown since its inception was -24.85%, smaller than the maximum GXLK.L drawdown of -28.24%. Use the drawdown chart below to compare losses from any high point for XNGS.L and GXLK.L.

Drawdown Indicators

	XNGS.L	GXLK.L	Difference
Max Drawdown Largest peak-to-trough decline	-24.85%	-28.24%	+3.39%
Max Drawdown (1Y) Largest decline over 1 year	-20.19%	-16.67%	-3.52%
Max Drawdown (3Y) Largest decline over 3 years	-24.85%	-28.24%	+3.39%
Current Drawdown Current decline from peak	-1.31%	-2.76%	+1.45%
Average Drawdown Average peak-to-trough decline	-5.28%	-7.64%	+2.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.05%	6.54%	+1.51%

Volatility

XNGS.L vs. GXLK.L - Volatility Comparison

The current volatility for Xtrackers MSCI Next Generation Internet Innovation UCITS ETF 1C (XNGS.L) is 5.17%, while SPDR S&P US Technology Select Sector UCITS ETF (GXLK.L) has a volatility of 6.90%. This indicates that XNGS.L experiences smaller price fluctuations and is considered to be less risky than GXLK.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XNGS.L	GXLK.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.17%	6.90%	-1.73%
Volatility (6M) Calculated over the trailing 6-month period	12.50%	14.09%	-1.59%
Volatility (1Y) Calculated over the trailing 1-year period	16.97%	19.32%	-2.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.86%	26.83%	-6.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.86%	26.83%	-6.97%

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

XNGS.L has a 0.35% expense ratio, which is higher than GXLK.L's 0.15% expense ratio.

Dividends

XNGS.L vs. GXLK.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

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

XNGS.L and GXLK.L have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

On fees, GXLK.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

GXLK.L is cheaper with a 0.15% expense ratio, compared with 0.35% for XNGS.L.

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

Both ETFs track MSCI World/Information Tech NR USD. They also come from different issuers: DWS and State Street. Their fees differ too: 0.35% for XNGS.L and 0.15% for GXLK.L.