Compare/Updated Oct 26, 2026, refreshed every trading day
XLK vs QQQ
State Street Technology Select Sector SPDR ETF against Invesco QQQ Trust, Series 1: 4 years of returns, risk and today’s technical read, from Kavout’s own data.
XLK did better over the period: $1,000 invested on October 28, 2022 grew to $2,909, versus $2,565 for QQQ, a gain of 190.9% compared with 156.5%. XLK also led over three years, YTD, six months, three months, and one year, although QQQ’s one-month decline was less severe (-5.0% versus -5.9%). The outperformance came with higher risk: XLK’s trailing 12-month volatility was 26.7%, compared with 20.0% for QQQ, and its worst drawdown was -25.7% versus -22.8%. The funds were highly correlated, with daily-move correlation of 0.965, but XLK moved 1.15% for each 1% move in QQQ. XLK’s 0.08% expense ratio was also lower than QQQ’s 0.20%, while QQQ had substantially larger assets.
- Price is above its 200-day average ($168); 50-day at $190.
- RSI 38, neutral. Supertrend says sell. ADX 26, so the trend is strong.
- Price is above its 200-day average ($676); 50-day at $725.
- RSI 37, neutral. Supertrend says sell. ADX 25, so the trend is developing.
Head to head
Which has returned more, XLK or QQQ?
XLK beat QQQ in 25 of the last 48 months; QQQ won the other 23. The typical monthly gap was 1.24 points.
Total return by period
Which is riskier?
Both: Feb 19, 2025 to Apr 8, 2025
- 0.965
- correlation of daily moves, 4 years
- 1.15
- XLK move per 1% in QQQ
- 0.958
- correlation, last 12 months
Month by month
Of the last 48 months. The typical gap was 1.24 points.
When did they diverge?
| Month | XLK | QQQ | Gap |
|---|---|---|---|
| May 2026 | +19.8% | +10.6% | +9.19 pts |
| April 2026 | +20.0% | +15.7% | +4.33 pts |
| June 2025 | +9.8% | +6.4% | +3.45 pts |
| November 2025 | -4.8% | -1.6% | -3.25 pts |
Where the numbers come from. 1000 daily adjusted closes per fund from the Kavout market-data API, dividends included. Signals and indicators are Kavout’s own, refreshed nightly. Every figure is calculated from those adjusted closes.
Holdings and fees
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