XLK
Technology Select Sector SPDR Fund
Select Sector SPDR® holding S&P 500 stocks in the Technology sector. Component industries include Semiconductors & Semi Equipment; Software & Services; Tech Hardware & Equipment; and Telecommunication Services. The fund seeks investment results that, before expenses, generally correspond to the price and yield performance of the benchmark index.
US
EQUITY
Passive
MANAGEMENT STYLE
9 bp
EXPENSES
$66.5 B
ASSETS UNDER MGMT
Fund Basics
Fund sponsor | State Street Global Advisors |
Category | US |
Asset class | Equity |
Website | link... |
Inception date | Dec 16, 1998 |
Assets (mns) | $66,486 |
Expense ratio | 9 bp |
Currency | USD |
Sector Breakdown
Fund Structure
Regulation | Open-Ended Fund |
Distributions | Quarterly |
Taxation | 1099 |
Stock selection | Committee |
Weighting | Market Cap |
Holdings Transparency | Full |
Derivatives-based | No |
Options available | Yes |
Currency hedged | No |
Fund of funds | No |
Top 10 Holdings
Complete list +
MICROSOFT CORP | 22.2 % |
NVIDIA CORP | 19.9 % |
APPLE INC | 4.9 % |
BROADCOM INC. | 4.2 % |
ADOBE SYSTEMS INC | 2.6 % |
ADVANCED MICRO DEVICES | 2.6 % |
SALESFORCE.COM INC | 2.5 % |
ORACLE CORP | 2.3 % |
QUALCOMM INC | 2.2 % |
ACCENTURE PLC-CL A | 2.2 % |
Constituent Breakdown
Number of holdings | 67 |
Herfindahl-Hirschman Index | 1,024 |
Wgt avg mkt cap (mns) | $1,073,310 |
Large cap (>$10bn) | 100.0% |
Mid cap ($2-10bn) | 0.0% |
Small cap (<$2bn) | 0.0% |
Developed mkts. | 100.0% |
Emerging mkts. | 0.0% |
Country Exposure
UNITED STATES | 96.3 % | |
IRELAND | 2.4 % | |
NETHERLANDS | 0.7 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
---|---|---|---|---|---|---|---|
Total Returns | 17.9% | 31.4% | 34.7% | 16.4% | 25.0% | 20.9% | 9.1% | Volatility | 18.8% | 17.5% | 23.4% | 24.0% | 27.3% | 22.7% | -- |
Market Correlations
versus... | Beta | R-squared |
S&P 500 | 1.21 | 86% |
MSCI EAFE | 0.98 | 52% |
MSCI Emg Mkts | 0.74 | 31% |
Liquidity Measures
Avg. volume (000) | 4,924 |
Turnover | 1.6% |
Avg. Bid/Ask (% of price) | 0.01% |
ADV of underlying (mns) | $159,768 |
Technical Indicators
Recent close | $213.57 |
30d moving avg. | $229.42 |
Annualized volatility | 23.6% |
Relative strength (RSI) | 65 |
Short interest (ETF) | 2.2% |
Short interest (underlying) | 1.2% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
Ticker | Fund Name | Overlap vs. XLK |
Expenses vs. XLK |
ALTAR Score™ vs. XLK |
---|---|---|---|---|
IXN | iShares Global Tech ETF | 75.0% | +32 bp | -0.7% |
FTEC | Fidelity MSCI Information Technology Index ETF | 74.1% | -1 bp | -0.4% |
IYW | iShares U.S. Technology ETF | 71.7% | +31 bp | -0.4% |
VGT | Vanguard Information Technology ETF | 66.1% | +1 bp | -0.4% |
IGM | iShares Expanded Tech Sector ETF | 64.9% | +32 bp | -0.5% |
QQMG | Invesco ESG NASDAQ 100 ETF | 51.9% | +11 bp | -0.2% |
RSPT | Invesco S&P 500 Equal Weight Technology ETF | 47.2% | +31 bp | +0.5% |
QGRW | WisdomTree U.S. Quality Growth Fund | 46.5% | +19 bp | -0.1% |
IETC | iShares U.S. Tech Independence Focused ETF | 46.3% | +9 bp | -0.4% |
VEGN | US Vegan Climate ETF | 46.1% | +51 bp | -0.2% |
Risk and Returns: XLK vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
---|---|---|---|---|---|---|---|---|
Sales per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- | |
Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- | |
Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- | |
Book value per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
2023 | 2024E | Fwd Est | 2025E | |
Price-to-sales | --x | --x | --x | --x |
Price-to-earnings | --x | --x | --x | --x |
Price-to-cash flow | --x | --x | --x | --x |
Price-to-growth | --x | --x | --x | --x |
Price-to-book value | --x | --x | --x | --x |
Yield | --% | --% | --x | --% |
Based on closing prices from 7/25/2024
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
XLK
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
XLK
5.1%
Cat. Avg
5.7%
Fund Category: US
Avg. Return on Equity | --% |
Divided by: Fwd. P/BV | --x |
Less: Expenses | -- bp |
Equals: ALTAR Score™ | 5.1% |
Recommendation
UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.
Category Overview
There are 899 funds in the US category, with an average ALTAR Score™
of 5.7% and a standard deviation of
2.4%. XLK's ALTAR Score™ is approximately
0.3 standard deviations
below
the category average. This places XLK in the 39th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
XLK
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Expense Analysis
Peer Group | Passive US Equity ETFs |
# of ETFs | 192 |
Avg. Expense Ratio | 31.0 bp |
Std. Deviation | 25.7 bp |
XLK (9 bp) Percentile rank | 19 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
---|---|---|---|
XLK | 9.0 | 0.7 | 9.7 |
Peer Avg. | 29.8 | 6.8 | 36.5 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .