XNTK vs. PNQI

Last updated Jun 24, 2026

XNTK (State Street SPDR NYSE Technology ETF) and PNQI (Invesco NASDAQ Internet ETF) are both exchange-traded funds - XNTK is a Technology Equities fund tracking the NYSE Technology Index, while PNQI is a Large Cap Growth Equities fund tracking the NASDAQ Internet Index. Both are passively managed. Over the past 10 years, XNTK returned 25.67%/yr vs 11.59%/yr for PNQI. Their correlation of 0.82 suggests significant overlap in exposure. XNTK charges 0.35%/yr vs 0.62%/yr for PNQI.

Performance

XNTK vs. PNQI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street SPDR NYSE Technology ETF (XNTK) and Invesco NASDAQ Internet ETF (PNQI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XNTK achieves a 32.72% return, which is significantly higher than PNQI's -17.01% return. Over the past 10 years, XNTK has outperformed PNQI with an annualized return of 25.67%, while PNQI has yielded a comparatively lower 11.59% annualized return.

XNTK

• 1D: -5.42%
• 1M: 5.72%
• YTD: 32.72%
• 6M: 30.83%
• 1Y: 62.72%
• 3Y*: 39.51%
• 5Y*: 19.21%
• 10Y*: 25.67%

PNQI

• 1D: 0.05%
• 1M: -7.06%
• YTD: -17.01%
• 6M: -17.53%
• 1Y: -10.24%
• 3Y*: 13.16%
• 5Y*: -2.58%
• 10Y*: 11.59%

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

XNTK vs. PNQI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XNTK State Street SPDR NYSE Technology ETF	32.72%	38.06%	23.49%	70.13%	-41.07%	17.63%	73.91%	38.08%	-7.13%	40.37%
PNQI Invesco NASDAQ Internet ETF	-17.01%	15.56%	29.44%	60.69%	-47.92%	-5.57%	61.36%	28.76%	-5.08%	40.05%

Correlation

The correlation between XNTK and PNQI is 0.63, 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	0.63
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Jun 13, 2008	0.82

The correlation between XNTK and PNQI shifts across timeframes, from 0.63 (1 year) to 0.87 (10 years), reflecting how their relationship changes across market environments.

XNTK vs. PNQI - Sectors Allocation Comparison

Sectors	XNTK	PNQI
Technology	83.3%	39.8%
Communication Services	8.6%	30.4%
Consumer Cyclical	8.0%	27.0%
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	2.4%
Healthcare	-	0.0%
Industrials	-	0.1%
Real Estate	-	0.4%
Utilities	-	-

Return for Risk

XNTK vs. PNQI — Risk / Return Rank

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

XNTK

XNTK Risk / Return Rank: 71
XNTK Sharpe Ratio Rank: 78
XNTK Sortino Ratio Rank: 64
XNTK Omega Ratio Rank: 71
XNTK Calmar Ratio Rank: 75
XNTK Martin Ratio Rank: 68

PNQI

PNQI Risk / Return Rank: 5
PNQI Sharpe Ratio Rank: 4
PNQI Sortino Ratio Rank: 4
PNQI Omega Ratio Rank: 4
PNQI Calmar Ratio Rank: 5
PNQI Martin Ratio Rank: 5

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.

XNTK vs. PNQI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR NYSE Technology ETF (XNTK) and Invesco NASDAQ Internet ETF (PNQI). 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.

	XNTK	PNQI	Difference
Sharpe ratio: Return per unit of total volatility	2.36	-0.55	+2.91
Sortino ratio: Return per unit of downside risk	2.84	-0.64	+3.48
Omega ratio: Gain probability vs. loss probability	1.40	0.92	+0.48
Calmar ratio: Return relative to maximum drawdown	3.71	-0.41	+4.12
Martin ratio: Return relative to average drawdown	12.03	-0.90	+12.93

XNTK vs. PNQI - Sharpe Ratio Comparison

The current XNTK Sharpe Ratio is 2.36, which is higher than the PNQI Sharpe Ratio of -0.55. The chart below compares the historical Sharpe Ratios of XNTK and PNQI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

XNTK vs. PNQI - Drawdown Comparison

The maximum XNTK drawdown since its inception was -72.38%, which is greater than PNQI's maximum drawdown of -59.70%. Use the drawdown chart below to compare losses from any high point for XNTK and PNQI.

Drawdown Indicators

	XNTK	PNQI	Difference
Max Drawdown Largest peak-to-trough decline	-72.38%	-59.70%	-12.68%
Max Drawdown (1Y) Largest decline over 1 year	-17.00%	-24.85%	+7.85%
Max Drawdown (3Y) Largest decline over 3 years	-28.11%	-24.85%	-3.26%
Max Drawdown (5Y) Largest decline over 5 years	-48.28%	-59.56%	+11.28%
Max Drawdown (10Y) Largest decline over 10 years	-48.28%	-59.70%	+11.42%
Current Drawdown Current decline from peak	-5.42%	-21.57%	+16.15%
Average Drawdown Average peak-to-trough decline	-21.26%	-12.98%	-8.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.23%	11.38%	-6.15%

Volatility

XNTK vs. PNQI - Volatility Comparison

State Street SPDR NYSE Technology ETF (XNTK) has a higher volatility of 14.84% compared to Invesco NASDAQ Internet ETF (PNQI) at 7.02%. This indicates that XNTK's price experiences larger fluctuations and is considered to be riskier than PNQI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XNTK	PNQI	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.84%	7.02%	+7.82%
Volatility (6M) Calculated over the trailing 6-month period	22.07%	14.90%	+7.17%
Volatility (1Y) Calculated over the trailing 1-year period	26.71%	18.80%	+7.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.52%	26.90%	+1.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.92%	25.32%	+1.60%

XNTK vs. PNQI - Expense Ratio Comparison

XNTK has a 0.35% expense ratio, which is lower than PNQI's 0.62% expense ratio.

Dividends

XNTK vs. PNQI - Dividend Comparison

XNTK's dividend yield for the trailing twelve months is around 0.15%, while PNQI has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PNQI Invesco NASDAQ Internet ETF	0.00%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.02%	0.00%	0.00%
XNTK State Street SPDR NYSE Technology ETF	0.15%	0.23%	0.42%	0.34%	0.85%	0.34%	0.30%	0.61%	29.64%	1.29%	0.81%	0.93%

Frequently Asked Questions

Can I hold both XNTK and PNQI in my portfolio?

XNTK and PNQI have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XNTK or PNQI?

XNTK has higher volatility (14.84%) compared to PNQI (7.02%). In terms of maximum drawdown, XNTK dropped -72.38% vs PNQI's -59.70%.

Which ETF is better, XNTK or PNQI?

On 10-year performance, XNTK leads with 25.67% vs 11.59% for PNQI. On fees, XNTK is cheaper at 0.35% per year. On volatility, PNQI has been the lower-risk option at 7.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XNTK or PNQI?

Over the 10-year period, XNTK has performed better with a 25.67% return vs 11.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XNTK or PNQI?

XNTK is cheaper with a 0.35% expense ratio, compared with 0.62% for PNQI.

Which ETF pays a higher dividend yield, XNTK or PNQI?

XNTK has the higher dividend yield at 0.15%, compared with 0.00% for PNQI.

What is the main difference between XNTK and PNQI?

XNTK is categorized as Technology Equities, while PNQI is Large Cap Growth Equities. XNTK tracks NYSE Technology Index, while PNQI tracks NASDAQ Internet Index. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.35% for XNTK and 0.62% for PNQI.

Which has better risk-adjusted returns?

XNTK currently has the higher Sharpe Ratio (2.36 vs -0.55), 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.