Data Source: from January 1999 to March 2023 (~24 years)
Consolidated Returns as of 31 March 2023
Category: Stocks
ETF: Technology Select Sector SPDR (XLK)

In the last 20 Years, the Technology Select Sector SPDR (XLK) ETF obtained a 14.05% compound annual return, with a 17.85% standard deviation.

In 2022, the ETF granted a 0.75% dividend yield. If you are interested in getting periodic income, please refer to the Technology Select Sector SPDR (XLK) ETF: Dividend Yield page.

The ETF is related to the following investment themes:

  • Asset Class: Equity
  • Size: Large Cap
  • Style: Growth
  • Region: North America
  • Country: U.S.
  • Sector: Technology
  • Industry: Broad Technology

Historical Returns as of Mar 31, 2023

Historical returns and Metrics of Technology Select Sector SPDR (XLK) ETF.

Returns and metrics are calculated based on monthly returns, assuming:
  • No fees or capital gain taxes
  • the reinvestment of dividends
TECHNOLOGY SELECT SECTOR SPDR (XLK) ETF
Portfolio Metrics
Data Source: 1 January 1999 - 31 March 2023 (~24 years)
Swipe left to see all data
Metrics as of Mar 31, 2023
1M 3M 6M 1Y 3Y 5Y 10Y 20Y MAX
(~24Y)
Portfolio
Return (%)		 10.86 21.62 27.78 -4.02 24.53 19.57 19.15 14.05 7.74
US Inflation (%) 0.00 1.36 1.36 4.64 5.24 3.81 2.60 2.48 2.54
Infl. Adjusted
Return (%)		 10.86 19.98 26.07 -8.28 18.33 15.18 16.14 11.29 5.08
Waiting for updates, inflation of Mar 2023 is temporarily set to 0%. Returns / Inflation rates over 1 year are annualized.
RISK INDICATORS
Standard Deviation (%) 30.66 24.36 22.50 18.03 17.85 23.21
Sharpe Ratio -0.21 0.98 0.82 1.02 0.72 0.16
Sortino Ratio -0.30 1.30 1.08 1.38 0.97 0.22
MAXIMUM DRAWDOWN
Drawdown Depth (%) -24.89 -31.22 -31.22 -31.22 -49.46 -80.47
Start (yyyy mm) 2022 04 2022 01 2022 01 2022 01 2007 11 2000 04
Bottom (yyyy mm) 2022 09 2022 09 2022 09 2022 09 2009 02 2002 09
Start to Bottom (# months) 6 9 9 9 16 30
Start to Recovery (# months) in progress
> 12
> 15
> 15
> 15
51
202
ROLLING PERIOD RETURNS - Annualized
Best Return (%) 66.90 42.63 30.82 23.07 14.05
Worst Return (%) -59.28 -38.14 -19.76 -8.78 2.69
% Positive Periods 75% 75% 81% 85% 100%
MONTHS
Positive 1 3 5 6 23 38 79 151 173
Negative 0 0 1 6 13 22 41 89 118
% Positive 100% 100% 83% 50% 64% 63% 66% 63% 59%
WITHDRAWAL RATES (WR)
Safe WR (%) 54.99 30.81 20.94 10.78 3.50
Perpetual WR (%) 15.49 13.18 13.90 10.15 4.83
Terms and Definitions
  • Annualized Portfolio Return: it's the annualized geometric mean return of the ETF
  • Standard Deviation: it's a measure of the dispersion of returns around the mean
  • Sharpe Ratio: it's a measure of risk-adjusted performance of the ETF. It's calculated by dividing the excess return of the ETF over the risk-free rate by the ETF standard deviation. The risk-free rate here considered is the 1-3 Mth T-Bill return.
  • Sortino Ratio: another measure of risk-adjusted performance of the ETF. It's a modification of the Sharpe Ratio (same formula but the denominator is the ETF downside standard deviation).
  • Maximum Drawdown: a drawdown refers to the decline in value from a relative peak value to a relative trough. A maximum drawdown is the maximum observed loss from a peak to a trough of a portfolio before a new peak is attained.
  • Rolling Returns: returns over a time frame (best, worst, % of positive returns).
  • Pos./Neg. Months: number of months with positive/negative return.
  • Safe Withdrawal Rate (SWR): it's the percentage of the original portfolio balance that can be withdrawn at the end of each year with inflation adjustment, without the portfolio running out of money (dollar amount withdrawal).
  • Perpetual Withdrawal Rate (PWR): it's the percentage of portfolio balance that can be withdrawn at the end of each year, while retaining the inflation adjusted portfolio balance (percentage withdrawal).

Correlations as of Mar 31, 2023

Monthly correlations of Technology Select Sector SPDR (XLK) ETF vs the main Asset Classes, over different timeframes.

Correlation measures to what degree the returns of the two assets move in relation to each other.

Correlation coefficient is a numerical value between -1 and +1.

If one variable goes up by a certain amount, the correlation coefficient indicates which way the other variable moves and by how much.

Asset correlations are calculated based on monthly returns.

Columns are sortable (click on table header to sort).

TECHNOLOGY SELECT SECTOR SPDR (XLK) ETF
Monthly correlations as of 31 March 2023
Swipe left to see all data
Correlation vs XLK
 
Asset Class 1 Year 5 Years 10 Years Since
Jan 1999
US Total Stock Market
VTI
0.96
0.93
0.90
0.86
US Large Cap
SPY
0.97
0.93
0.91
0.86
US Small Cap
IJR
0.81
0.77
0.70
0.71
US REITs
VNQ
0.83
0.73
0.59
0.41
US Technology
QQQ
0.99
0.98
0.97
0.96
Preferred Stocks
PFF
0.67
0.69
0.63
0.31
EAFE Stocks
EFA
0.85
0.79
0.77
0.71
World All Countries
VT
0.93
0.89
0.87
0.81
Emerging Markets
EEM
0.64
0.62
0.61
0.67
Europe
VGK
0.84
0.78
0.76
0.70
Pacific
VPL
0.83
0.76
0.72
0.62
Latin America
FLLA
0.69
0.42
0.42
0.57
US Total Bond Market
BND
0.82
0.52
0.40
0.06
Long Term Treasuries
TLT
0.72
0.21
0.10
-0.14
US Cash
BIL
0.23
-0.09
-0.05
-0.12
TIPS
TIP
0.93
0.66
0.49
0.09
Invest. Grade Bonds
LQD
0.85
0.65
0.54
0.20
High Yield Bonds
HYG
0.91
0.76
0.70
0.53
International Bonds
BNDX
0.94
0.56
0.44
0.11
Emerg. Market Bonds
EMB
0.79
0.66
0.59
0.45
Gold
GLD
0.44
0.20
0.08
-0.01
Commodities
DBC
0.33
0.40
0.33
0.25

Capital Growth as of Mar 31, 2023

Capital growth, returns, stats are calculated assuming a reinvestment of dividends.

If you are interested in getting periodic income, please refer to the Technology Select Sector SPDR (XLK) ETF: Dividend Yield page.

An investment of 1000$, since April 2003, now would be worth 13875.28$, with a total return of 1287.53% (14.05% annualized).

The Inflation Adjusted Capital now would be 8495.63$, with a net total return of 749.56% (11.29% annualized).
An investment of 1000$, since January 1999, now would be worth 6098.09$, with a total return of 509.81% (7.74% annualized).

The Inflation Adjusted Capital now would be 3322.29$, with a net total return of 232.23% (5.08% annualized).
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Drawdowns

Worst drawdowns since April 2003.

Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months
-49.46% Nov 2007 Feb 2009 16 Jan 2012 35 51
-31.22% Jan 2022 Sep 2022 9 in progress 6 15
-17.37% Sep 2018 Dec 2018 4 Apr 2019 4 8
-15.25% Feb 2020 Mar 2020 2 May 2020 2 4
-12.56% Feb 2004 Aug 2004 7 Dec 2004 4 11
-10.61% Jan 2005 Apr 2005 4 Nov 2005 7 11
-10.57% Apr 2006 Jul 2006 4 Oct 2006 3 7
-10.07% Sep 2020 Oct 2020 2 Nov 2020 1 3
-8.66% May 2019 May 2019 1 Jul 2019 2 3
-8.07% Jun 2015 Sep 2015 4 Oct 2015 1 5
-7.39% Apr 2012 May 2012 2 Aug 2012 3 5
-6.36% Oct 2012 Oct 2012 1 Apr 2013 6 7
-6.32% Dec 2015 Feb 2016 3 Mar 2016 1 4
-5.84% Sep 2021 Sep 2021 1 Oct 2021 1 2
-5.61% Dec 2014 Jan 2015 2 Feb 2015 1 3
-5.03% Apr 2016 Apr 2016 1 Jul 2016 3 4
-4.13% Feb 2018 Mar 2018 2 May 2018 2 4
-3.44% Mar 2015 Mar 2015 1 May 2015 2 3
-3.07% Dec 2005 Dec 2005 1 Jan 2006 1 2
-2.89% Jun 2013 Jun 2013 1 Jul 2013 1 2

Worst drawdowns since January 1999.

Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months
-80.47% Apr 2000 Sep 2002 30 Jan 2017 172 202
-31.22% Jan 2022 Sep 2022 9 in progress 6 15
-17.37% Sep 2018 Dec 2018 4 Apr 2019 4 8
-15.25% Feb 2020 Mar 2020 2 May 2020 2 4
-10.07% Sep 2020 Oct 2020 2 Nov 2020 1 3
-9.92% Feb 1999 Feb 1999 1 Jun 1999 4 5
-8.66% May 2019 May 2019 1 Jul 2019 2 3
-6.15% Jan 2000 Jan 2000 1 Feb 2000 1 2
-5.84% Sep 2021 Sep 2021 1 Oct 2021 1 2
-4.13% Feb 2018 Mar 2018 2 May 2018 2 4
-2.81% Jun 2017 Jun 2017 1 Jul 2017 1 2
-1.54% Aug 2019 Aug 2019 1 Sep 2019 1 2
-1.16% Jul 1999 Jul 1999 1 Aug 1999 1 2
-0.93% May 2021 May 2021 1 Jun 2021 1 2
-0.84% Jan 2021 Jan 2021 1 Feb 2021 1 2
-0.41% Sep 1999 Sep 1999 1 Oct 1999 1 2
-0.26% Jun 2018 Jun 2018 1 Jul 2018 1 2

Rolling Returns ( more details)

Technology Select Sector SPDR (XLK) ETF: annualized rolling and average returns

Swipe left to see all data
Rolling
Period		 Return (*) Negative
Periods
Average (%) Best (%) Worst (%)
1 Year
 10.15 66.90
Apr 2020 - Mar 2021 		-59.28
Sep 2000 - Aug 2001 		25.36%
2 Years
 8.61 46.70
Jan 2019 - Dec 2020 		-49.88
Sep 2000 - Aug 2002 		22.39%
3 Years
 8.80 42.63
Jan 2019 - Dec 2021 		-38.14
Apr 2000 - Mar 2003 		25.00%
5 Years
 9.38 30.82
Jan 2017 - Dec 2021 		-19.76
Apr 2000 - Mar 2005 		18.53%
7 Years
 9.39 24.54
Jan 2015 - Dec 2021 		-12.19
Apr 2000 - Mar 2007 		18.75%
10 Years
 9.32 23.07
Jan 2012 - Dec 2021 		-8.78
Sep 2000 - Aug 2010 		15.12%
15 Years
 9.06 16.35
Aug 2006 - Jul 2021 		-1.40
Apr 2000 - Mar 2015 		7.14%
20 Years
 8.50 14.05
Apr 2003 - Mar 2023 		2.69
Apr 2000 - Mar 2020 		0.00%
(*) Annualized rolling and average returns over full calendar month periods

If you need a deeper detail about rolling returns, please refer to the Technology Select Sector SPDR (XLK) ETF: Rolling Returns page.

Seasonality

Technology Select Sector SPDR (XLK) ETF: in which months is it better to invest?

Both the Average Return and the Gain Frequency (Win %) are useful to get an idea of what happened in the past.

For further information about the seasonality, check the Asset Class Seasonality page.
Swipe left to see all data
Monthly Average Return (%) and Gain Frequency
Return (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average
Gain Frequency
2.50
60%
-0.70
60%
2.46
80%
2.87
80%
0.74
40%
2.65
60%
5.72
100%
2.86
60%
-4.32
20%
1.34
60%
5.11
80%
-0.69
60%
 Capital Growth on monthly avg returns
100
102.50
101.79
104.29
107.28
108.07
110.93
117.28
120.63
115.42
116.97
122.95
122.10
Best 9.3
2023 		6.9
2019 		10.9
2023 		13.7
2020 		7.2
2020 		8.9
2019 		13.5
2022 		11.9
2020 		1.6
2019 		8.2
2021 		11.4
2020 		5.5
2020
Worst -6.8
2022 		-7.3
2020 		-8.6
2020 		-11.0
2022 		-8.7
2019 		-9.3
2022 		2.1
2018 		-6.2
2022 		-12.0
2022 		-8.0
2018 		-2.0
2018 		-8.4
2018
Monthly Seasonality over the period Apr 2018 - Mar 2023
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Monthly Average Return (%) and Gain Frequency
Return (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average
Gain Frequency
1.33
50%
1.24
60%
1.66
70%
1.61
80%
2.09
70%
0.39
40%
4.84
100%
1.51
60%
-1.80
40%
2.96
70%
3.58
90%
-0.14
60%
 Capital Growth on monthly avg returns
100
101.33
102.58
104.29
105.96
108.18
108.61
113.87
115.59
113.51
116.87
121.05
120.88
Best 9.3
2023 		8.0
2015 		10.9
2023 		13.7
2020 		7.2
2020 		8.9
2019 		13.5
2022 		11.9
2020 		2.5
2013 		10.5
2015 		11.4
2020 		5.5
2020
Worst -6.8
2022 		-7.3
2020 		-8.6
2020 		-11.0
2022 		-8.7
2019 		-9.3
2022 		1.7
2014 		-6.2
2022 		-12.0
2022 		-8.0
2018 		-2.0
2018 		-8.4
2018
Monthly Seasonality over the period Apr 2013 - Mar 2023
Swipe left to see all data
Monthly Average Return (%) and Gain Frequency
Return (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average
Gain Frequency
1.12
52%
-0.97
56%
1.91
68%
1.51
67%
0.61
58%
0.14
46%
1.71
67%
0.87
58%
-2.38
46%
3.06
67%
2.45
75%
0.22
54%
 Capital Growth on monthly avg returns
100
101.12
100.13
102.05
103.59
104.21
104.36
106.14
107.05
104.51
107.71
110.35
110.59
Best 19.1
2001 		10.5
2000 		11.2
2009 		16.2
2001 		8.6
2003 		10.0
2000 		13.5
2022 		11.9
2020 		11.7
2010 		24.8
2002 		15.9
2002 		15.4
1999
Worst -12.8
2008 		-24.9
2001 		-11.5
2001 		-12.1
2002 		-10.4
2000 		-13.4
2002 		-9.5
2002 		-12.2
2001 		-18.0
2000 		-16.1
2008 		-20.5
2000 		-13.2
2002
Monthly Seasonality over the period Jan 1999 - Mar 2023

Monthly/Yearly Returns

Technology Select Sector SPDR (XLK) ETF data source starts from January 1999: let's focus on monthly and yearly returns.

We are providing two different views:
  • Histogram: it shows the distribution of the returns recorded so far
  • Plain Table: it shows the detailed monthly and yearly returns
MONTHLY RETURNS HISTOGRAM
Jan 1999 - Mar 2023
173 Positive Months (59%) - 118 Negative Months (41%)
MONTHLY RETURNS TABLE
Jan 1999 - Mar 2023
(Scroll down to see all data)
Swipe left to see all data
Yearly Return(%)
Monthly Return(%)
Year Total Infl.Adj Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2023
 +21.62 +19.98 9.3 0.4 10.9
2022
 -27.73 -32.11 -6.8 -4.9 3.3 -11.0 -0.7 -9.3 13.5 -6.2 -12.0 7.7 6.3 -8.2
2021
 +34.83 +25.97 -0.8 1.4 1.9 5.2 -0.9 6.9 3.9 3.6 -5.8 8.2 4.5 3.2
2020
 +43.62 +41.69 4.0 -7.3 -8.6 13.7 7.2 6.9 5.7 11.9 -5.3 -5.0 11.4 5.5
2019
 +49.86 +46.51 6.9 6.9 4.8 6.4 -8.7 8.9 3.5 -1.5 1.6 3.9 5.4 4.3
2018
 -1.66 -3.50 7.0 -0.4 -3.7 0.1 6.8 -0.3 2.1 6.6 0.0 -8.0 -2.0 -8.4
2017
 +34.25 +31.48 3.6 4.5 2.2 2.0 4.0 -2.8 4.5 2.9 0.8 6.5 1.4 0.5
2016
 +15.02 +12.68 -3.7 -0.7 8.8 -5.0 4.9 -1.4 7.1 1.2 2.1 -0.8 0.2 2.3
2015
 +5.49 +4.72 -3.5 8.0 -3.4 2.8 1.9 -4.1 2.9 -5.5 -1.3 10.5 0.7 -2.1
2014
 +17.85 +16.96 -2.6 4.4 0.4 0.3 3.8 1.9 1.7 3.3 -0.5 1.6 4.8 -2.2
2013
 +26.25 +24.38 1.9 0.8 2.6 1.8 2.8 -2.9 3.7 -1.0 2.5 5.0 3.1 3.5
2012
 +15.30 +13.32 6.2 7.1 4.5 -1.1 -6.3 3.3 1.8 4.2 1.5 -6.4 0.9 -0.4
2011
 +2.61 -0.34 3.2 2.2 -1.6 2.6 -1.0 -2.5 0.4 -5.3 -3.1 10.2 -1.5 -0.2
2010
 +11.39 +9.75 -8.6 3.5 6.8 1.3 -7.5 -5.4 7.5 -5.6 11.7 5.8 -1.6 5.6
2009
 +51.32 +47.31 -4.7 -3.8 11.2 10.4 2.3 3.6 8.2 1.6 4.6 -1.2 5.5 5.8
2008
 -41.51 -41.56 -12.8 -4.7 1.2 6.3 6.5 -9.4 -2.4 1.8 -12.5 -16.1 -8.4 1.6
2007
 +15.45 +10.92 2.0 -2.7 1.0 4.7 5.0 -0.1 -0.2 1.9 3.8 5.3 -7.5 2.0
2006
 +12.16 +9.38 3.3 0.2 2.3 -1.3 -6.5 -0.5 -2.6 7.0 4.0 4.0 2.8 -0.5
2005
 -0.32 -3.61 -5.6 0.2 -2.0 -3.5 6.9 -1.3 5.7 -1.0 0.2 -2.3 6.3 -3.1
2004
 +5.65 +2.32 4.3 -2.5 -2.7 -3.8 3.9 2.7 -6.1 -4.4 2.9 4.4 5.1 2.6
2003
 +38.68 +36.12 -2.4 0.5 -1.5 9.2 8.6 0.7 3.1 4.8 -0.9 7.3 1.4 3.1
2002
 -38.17 -39.60 -1.1 -13.0 4.9 -12.1 -4.1 -13.4 -9.5 -0.8 -16.7 24.8 15.9 -13.2
2001
 -23.35 -24.52 19.1 -24.9 -11.5 16.2 -4.1 2.0 -6.9 -12.2 -16.4 10.9 14.9 -2.2
2000
 -41.88 -43.78 -6.1 10.5 8.4 -9.2 -10.4 10.0 -5.3 10.2 -18.0 -5.7 -20.5 -9.9
1999
 +65.14 +60.82 15.9 -9.9 7.4 0.6 0.3 9.6 -1.2 3.5 -0.4 3.0 9.8 15.4
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