XSW vs. IGPT

Last updated Apr 1, 2026

Compare and contrast key facts about SPDR S&P Software & Services ETF (XSW) and Invesco AI and Next Gen Software ETF (IGPT).

XSW and IGPT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XSW is a passively managed fund by State Street that tracks the performance of the S&P Software & Services Select Industry Index. It was launched on Sep 28, 2011. IGPT is a passively managed fund by Invesco that tracks the performance of the STOXX World AC NexGen Software Development Index. It was launched on Jun 23, 2005. Both XSW and IGPT are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

XSW vs. IGPT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Software & Services ETF (XSW) and Invesco AI and Next Gen Software ETF (IGPT). The values are adjusted to include any dividend payments, if applicable.

XSW vs. IGPT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XSW SPDR S&P Software & Services ETF	-23.97%	-0.90%	25.81%	38.60%	-34.22%	7.47%	52.41%	36.50%	7.67%	27.94%
IGPT Invesco AI and Next Gen Software ETF	-2.36%	31.55%	17.15%	27.29%	-27.73%	-11.79%	54.31%	35.06%	16.38%	34.60%

Returns By Period

In the year-to-date period, XSW achieves a -23.97% return, which is significantly lower than IGPT's -2.36% return. Over the past 10 years, XSW has underperformed IGPT with an annualized return of 11.83%, while IGPT has yielded a comparatively higher 16.03% annualized return.

XSW

• 1D: 2.63%
• 1M: -5.49%
• YTD: -23.97%
• 6M: -28.05%
• 1Y: -10.96%
• 3Y*: 5.07%
• 5Y*: -2.31%
• 10Y*: 11.83%

IGPT

• 1D: 4.64%
• 1M: -8.95%
• YTD: -2.36%
• 6M: 7.47%
• 1Y: 43.48%
• 3Y*: 19.77%
• 5Y*: 3.23%
• 10Y*: 16.03%

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

XSW vs. IGPT - Expense Ratio Comparison

XSW has a 0.35% expense ratio, which is lower than IGPT's 0.60% expense ratio.

IGPT

Invesco AI and Next Gen Software ETF

XSW

SPDR S&P Software & Services ETF

Return for Risk

XSW vs. IGPT — Risk / Return Rank

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

XSW

XSW Risk / Return Rank: 6
XSW Sharpe Ratio Rank: 6
XSW Sortino Ratio Rank: 6
XSW Omega Ratio Rank: 6
XSW Calmar Ratio Rank: 6
XSW Martin Ratio Rank: 4

IGPT

IGPT Risk / Return Rank: 82
IGPT Sharpe Ratio Rank: 80
IGPT Sortino Ratio Rank: 82
IGPT Omega Ratio Rank: 77
IGPT Calmar Ratio Rank: 87
IGPT Martin Ratio Rank: 85

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.

XSW vs. IGPT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Software & Services ETF (XSW) and Invesco AI and Next Gen Software ETF (IGPT). 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.

	XSW	IGPT	Difference
Sharpe ratio Return per unit of total volatility	-0.36	1.44	-1.80
Sortino ratio Return per unit of downside risk	-0.33	2.05	-2.37
Omega ratio Gain probability vs. loss probability	0.96	1.28	-0.32
Calmar ratio Return relative to maximum drawdown	-0.38	2.55	-2.93
Martin ratio Return relative to average drawdown	-1.01	9.39	-10.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XSW vs. IGPT - Sharpe Ratio Comparison

The current XSW Sharpe Ratio is -0.36, which is lower than the IGPT Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of XSW and IGPT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	XSW	IGPT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.36	1.44	-1.80
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.08	0.12	-0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	0.62	-0.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	0.52	+0.05

Correlation

The correlation between XSW and IGPT is 0.83, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

XSW vs. IGPT - Dividend Comparison

XSW's dividend yield for the trailing twelve months is around 0.05%, which matches IGPT's 0.05% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
XSW SPDR S&P Software & Services ETF	0.05%	0.06%	0.07%	0.20%	0.09%	0.13%	0.26%	0.12%	0.31%	0.46%	0.87%	0.54%
IGPT Invesco AI and Next Gen Software ETF	0.05%	0.04%	0.00%	0.00%	1.41%	6.21%	0.04%	0.05%	0.00%	0.00%	0.03%	0.15%

Drawdowns

XSW vs. IGPT - Drawdown Comparison

The maximum XSW drawdown since its inception was -45.38%, smaller than the maximum IGPT drawdown of -50.14%. Use the drawdown chart below to compare losses from any high point for XSW and IGPT.

Drawdown Indicators

	XSW	IGPT	Difference
Max Drawdown Largest peak-to-trough decline	-45.38%	-50.14%	+4.76%
Max Drawdown (1Y) Largest decline over 1 year	-32.64%	-16.68%	-15.96%
Max Drawdown (5Y) Largest decline over 5 years	-45.38%	-45.59%	+0.21%
Max Drawdown (10Y) Largest decline over 10 years	-45.38%	-50.14%	+4.76%
Current Drawdown Current decline from peak	-30.67%	-12.82%	-17.85%
Average Drawdown Average peak-to-trough decline	-9.66%	-12.05%	+2.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.18%	4.54%	+7.64%

Volatility

XSW vs. IGPT - Volatility Comparison

The current volatility for SPDR S&P Software & Services ETF (XSW) is 7.84%, while Invesco AI and Next Gen Software ETF (IGPT) has a volatility of 11.59%. This indicates that XSW experiences smaller price fluctuations and is considered to be less risky than IGPT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XSW	IGPT	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.84%	11.59%	-3.75%
Volatility (6M) Calculated over the trailing 6-month period	20.51%	21.27%	-0.76%
Volatility (1Y) Calculated over the trailing 1-year period	30.30%	30.39%	-0.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.21%	26.90%	+1.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.87%	25.83%	+0.04%