Tearsheet

State Street Technology Select Sector SPDR ETF (XLK)

Market Price (6/25/2026): $188.0

State Street Technology Select Sector SPDR ETF (XLK)

Market Price (6/25/2026): $188.0

Key Takeaways

XLK has returned +27.3% YTD vs +7.8% for SPY; +48.7% over the past 12 months (SPY +21.9%). details →
Priced in gold, XLK has returned +3.6% over the past 3 years, vs +121.2% in dollars. details →
Over the past month, XLK has seen net inflows of +$781M (+0.6% of assets). details →
Analysts expect +24% revenue growth across XLK's holdings (next fiscal year) vs +8% for SPY; expected earnings growth: +32% vs +16%. details →
XLK's top 10 holdings represent 64% of the fund vs 37% for SPY — a more concentrated portfolio. details →

Last updated: 6/24/2026.

Price Chart

ETF Price
Price/Gold

Asset Allocation with XLK

Risk Tolerance:

ConservativeModerateAggressive

Moderate — 55% equity / 25% bonds / 20% alternatives

10Y Return (ann.)

+17.2%

Volatility

13.5%

Sharpe

1.05

YTD

+15.5%

Modeled with monthly rebalancing to target weights; 10-year figures are annualized from monthly returns. Illustrative only — past performance is not indicative of future results.

	ETF	%	1D	1W	1M	YTD
Equity	XLK	25.0%	-0.6%	-1.8%	1.5%	27.3%
Bond	BND	50.0%	0.5%	0.2%	1.1%	0.9%
Gold	GLD	10.0%	-3.0%	-8.0%	-11.6%	-7.7%
Commodity	DBC	2.5%	-2.5%	-5.2%	-13.4%	18.3%
Real Estate	VNQ	5.0%	0.0%	-0.2%	1.1%	11.8%
Bitcoin	BTCUSD	0.0%	0.3%	-4.2%	-16.7%	-28.1%
Cash	GOVT	7.5%	0.5%	0.2%	0.8%	0.3%
Conservative Portfolio		100.0%	-0.3%	-1.3%	-0.5%	7.6%

	ETF	%	1D	1W	1M	YTD
Equity	XLK	55.0%	-0.6%	-1.8%	1.5%	27.3%
Bond	BND	25.0%	0.5%	0.2%	1.1%	0.9%
Gold	GLD	7.0%	-3.0%	-8.0%	-11.6%	-7.7%
Commodity	DBC	4.0%	-2.5%	-5.2%	-13.4%	18.3%
Real Estate	VNQ	5.0%	0.0%	-0.2%	1.1%	11.8%
Bitcoin	BTCUSD	2.0%	0.3%	-4.2%	-16.7%	-28.1%
Cash	GOVT	2.0%	0.5%	0.2%	0.8%	0.3%
Moderate Portfolio		100.0%	-0.5%	-1.8%	-0.5%	15.5%

	ETF	%	1D	1W	1M	YTD
Equity	XLK	80.0%	-0.6%	-1.8%	1.5%	27.3%
Bond	BND	5.0%	0.5%	0.2%	1.1%	0.9%
Gold	GLD	3.0%	-3.0%	-8.0%	-11.6%	-7.7%
Commodity	DBC	2.2%	-2.5%	-5.2%	-13.4%	18.3%
Real Estate	VNQ	4.5%	0.0%	-0.2%	1.1%	11.8%
Bitcoin	BTCUSD	5.2%	0.3%	-4.2%	-16.7%	-28.1%
Cash	GOVT	0.0%	0.5%	0.2%	0.8%	0.3%
Aggressive Portfolio		100.0%	-0.6%	-2.0%	-0.2%	21.1%

	ETF	%	Return	Volatility	Sharpe
Equity	XLK	25.0%	25.1%	20.7%	1.05
Bond	BND	50.0%	1.6%	5.2%	-0.17
Gold	GLD	10.0%	11.5%	15.2%	0.63
Commodity	DBC	2.5%	5.7%	17.1%	0.25
Real Estate	VNQ	5.0%	5.6%	17.9%	0.27
Bitcoin	BTCUSD	0.0%	57.1%	76.2%	0.90
Cash	GOVT	7.5%	0.5%	4.9%	-0.40
Conservative Portfolio		100.0%	8.9%	8.1%	0.76

	ETF	%	Return	Volatility	Sharpe
Equity	XLK	55.0%	25.1%	20.7%	1.05
Bond	BND	25.0%	1.6%	5.2%	-0.17
Gold	GLD	7.0%	11.5%	15.2%	0.63
Commodity	DBC	4.0%	5.7%	17.1%	0.25
Real Estate	VNQ	5.0%	5.6%	17.9%	0.27
Bitcoin	BTCUSD	2.0%	57.1%	76.2%	0.90
Cash	GOVT	2.0%	0.5%	4.9%	-0.40
Moderate Portfolio		100.0%	17.2%	13.5%	1.05

	ETF	%	Return	Volatility	Sharpe
Equity	XLK	80.0%	25.1%	20.7%	1.05
Bond	BND	5.0%	1.6%	5.2%	-0.17
Gold	GLD	3.0%	11.5%	15.2%	0.63
Commodity	DBC	2.2%	5.7%	17.1%	0.25
Real Estate	VNQ	4.5%	5.6%	17.9%	0.27
Bitcoin	BTCUSD	5.2%	57.1%	76.2%	0.90
Cash	GOVT	0.0%	0.5%	4.9%	-0.40
Aggressive Portfolio		100.0%	25.0%	18.9%	1.14

Figures are on an annualized basis, based on monthly return data for the last 10 years

	ETF	%	Inflation Shock	Covid Pandemic	2018 Correction
Equity	XLK	25.0%	-30.3%	-25.8%	-22.7%
Bond	BND	50.0%	-14.2%	-2.2%	1.3%
Gold	GLD	10.0%	-7.7%	-6.3%	5.0%
Commodity	DBC	2.5%	20.5%	-23.7%	-17.5%
Real Estate	VNQ	5.0%	-29.8%	-41.6%	-11.1%
Bitcoin	BTCUSD	0.0%	-56.0%	-33.5%	-37.4%
Cash	GOVT	7.5%	-12.4%	4.4%	1.6%
Conservative Portfolio		100.0%	-17.3%	-10.5%	-5.4%

	ETF	%	Inflation Shock	Covid Pandemic	2018 Correction
Equity	XLK	55.0%	-30.3%	-25.8%	-22.7%
Bond	BND	25.0%	-14.2%	-2.2%	1.3%
Gold	GLD	7.0%	-7.7%	-6.3%	5.0%
Commodity	DBC	4.0%	20.5%	-23.7%	-17.5%
Real Estate	VNQ	5.0%	-29.8%	-41.6%	-11.1%
Bitcoin	BTCUSD	2.0%	-56.0%	-33.5%	-37.4%
Cash	GOVT	2.0%	-12.4%	4.4%	1.6%
Moderate Portfolio		100.0%	-22.8%	-18.8%	-13.8%

	ETF	%	Inflation Shock	Covid Pandemic	2018 Correction
Equity	XLK	80.0%	-30.3%	-25.8%	-22.7%
Bond	BND	5.0%	-14.2%	-2.2%	1.3%
Gold	GLD	3.0%	-7.7%	-6.3%	5.0%
Commodity	DBC	2.2%	20.5%	-23.7%	-17.5%
Real Estate	VNQ	4.5%	-29.8%	-41.6%	-11.1%
Bitcoin	BTCUSD	5.2%	-56.0%	-33.5%	-37.4%
Cash	GOVT	0.0%	-12.4%	4.4%	1.6%
Aggressive Portfolio		100.0%	-29.0%	-25.1%	-20.8%

The table shows the return of different asset classes during market crises - specifically during the period where the S&P fell and bottomed

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Tailored Asset Allocation
[1] Personalized 5 Level Risk Tolerance Assessment
[2] Asset Allocation for My Risk Tolerance

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Protect Wealth
[1] Defensive Portfolios
[2] Tax-Efficient Strategies

Valuation & Yield

	Forward [4,5]	Now	Historical (CYE & TTM)
	6/30/27	6/25/26	2025	2024	2023	2022	2021
Share Price CYE		$183.05	$143.79	$115.40	$94.88	$60.81	$84.14
Dividend/Share TTM		$0.74	$1.35	$1.52	$1.46	$1.29	$1.12
Valuation [1]
P/S	7.23	9.70	8.11	7.69	6.48	4.10	6.38
P/E		39.87	36.51	39.46	34.24	24.60	31.66
P/E (Non-GAAP) [2]	23.23	32.32	32.06	34.08	24.80	20.77	36.72
P/FCF		45.30	38.29	40.43	34.53	25.24	31.76
Yields TTM
Earnings Yield	4.30%	2.51%	2.74%	2.53%	2.92%	4.06%	3.16%
Dividend Yield	0.41%	0.41%	0.94%	1.32%	1.54%	2.12%	1.33%
Total Yield (TY)	4.71%	2.91%	3.68%	3.85%	4.46%	6.19%	4.49%
Risk Premium [3]
Risk Free Rate (Rf)	4.50%	4.50%	4.18%	4.58%	3.88%	3.88%	1.52%
Risk Prem. (TY - Rf)	0.21%	-1.59%	-0.50%	-0.73%	0.58%	2.31%	2.97%
Growth Rates [6]
Sales Growth	23.8%	5.7%	17.0%	9.5%	-0.4%	6.0%
Earnings Growth [7]	32.0%	14.7%	42.8%	9.2%	9.6%	-11.5%

[1] P/E uses the aggregate method over profitable constituents; P/FCF aggregates net free cash flow across all constituents (negative-FCF names reduce it); P/S uses all constituents. Ratios reflect current ETF holdings at current weights. P/FCF has no Forward column (no analyst FCF estimate).
[2] P/E (Non-GAAP) uses analyst consensus net income (adjusted basis) for all periods. The standard P/E row above uses GAAP net income.
[3] The premium above the risk free rate (US 10Y) offered by the investment. Negative premiums can indicate stretched valuations.
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Highlights

YIELD

XLK's earnings yield is 2.51%, based on its 39.9x trailing P/E. With a 0.41% dividend yield, XLK is yielding 2.91% in total.

RISK

Compared to US Treasuries at 4.50%, XLK's total yield implies a -1.59% risk premium. A negative risk premium means investors earn less than risk-free Treasuries — valuations are historically stretched, though expectations of falling interest rates or fast earnings growth can justify such levels.

FORWARD EXPECTATIONS

Based on analyst estimates, XLK's forward total yield is 4.71%, implying a 0.21% risk premium assuming stable Treasury rates.

Top 20 Holdings for XLK

Total Weights
Top 5: 47.6% | Top 10: 64.5% | Top 20: 79.9%

Ticker	Holding	ETF Weight	Sales Weight	Earnings Weight	Fwd P/S	Fwd P/E	Fwd Sales Growth	Fwd Earnings Growth
Total		99.81%	100.00%	100.00%	7.2	23.2	+23.8%	+32.0%
Top 20		79.94%	59.93%	79.62%	9.0	23.3	+30.5%	+36.4%
NVDA	NVIDIA	15.13%	7.72%	19.97%	10.5	18.6	+42.3%	+34.1%
AAPL	Apple	13.06%	13.33%	14.87%	8.5	31.2	+8.6%	+6.1%
MSFT	Microsoft	8.17%	9.32%	15.06%	7.1	18.7	+16.7%	+16.0%
MU	Micron Technology	5.63%	2.70%	4.60%	6.2	9.7	+81.2%	+87.8%
AVGO	Broadcom	5.56%	2.25%	3.59%	12.5	22.5	+64.6%	+57.8%
AMD	Advanced Micro Devices	4.96%	2.13%	1.17%	13.4	57.7	+53.6%	+43.8%
INTC	Intel	3.68%	2.87%	—	10.8	126.5	+11.2%	-3.9%
LRCX	Lam Research	2.83%	1.27%	1.62%	15.2	47.1	+32.8%	+32.6%
AMAT	Applied Materials	2.80%	1.69%	2.04%	11.9	39.3	+26.9%	+32.7%
CSCO	Cisco Systems	2.65%	3.31%	2.67%	6.9	25.2	+9.3%	+10.2%
KLAC	KLA	1.94%	0.78%	1.15%	18.4	460.8	+26.8%	+37.4%
SNDK	SanDisk	1.86%	0.84%	1.18%	6.3	10.6	+127.8%	+172.4%
TXN	Texas Instruments	1.67%	1.09%	1.30%	12.4	36.4	+11.2%	+15.5%
ORCL	Oracle	1.64%	2.26%	2.34%	4.9	19.1	+45.3%	+20.9%
PLTR	Palantir Technologies	1.51%	0.28%	0.51%	28.7	62.5	+45.2%	+24.9%
MRVL	Marvell Technology	1.49%	0.52%	0.62%	17.9	56.4	+44.1%	+54.4%
WDC	Western Digital	1.39%	0.72%	1.64%	12.4	35.4	+38.4%	+69.8%
STX	Seagate Technology	1.35%	0.66%	0.59%	13.2	37.7	+37.7%	+79.7%
IBM	International Business Machines	1.31%	3.55%	2.28%	3.4	20.3	+4.4%	+7.6%
QCOM	Qualcomm	1.29%	2.65%	2.43%	4.9	17.3	+0.4%	+0.8%

[1] Total and Top 20 rows are weighted aggregates across constituents.
[2] Forward P/S and P/E ratios use consensus sales and earnings for the 12 months ending 6/30/27. Individual constituent FY1 and FY2 consensus figures adjusted to align with 6/30/27.
[3] Forward Sales and Non-GAAP Earnings Growth are calculated as next fiscal year (FY2) consensus growth over current fiscal year (FY1) consensus. They are not derived from the forward P/S and P/E multiples shown.

Performance for XLK Top Holdings

Ticker	Holding	Weight	Mkt Price 6/24	1D Rtn	1M Rtn	YTD Rtn	1Y Rtn	3Y Rtn	5Y Rtn	10Y Rtn
XLK	State Street Technology Select Sector SPDR ETF	100.00%	183.05	-0.6%	1.5%	27.3%	48.7%	121.2%	161.4%	860.8%
NVDA	NVIDIA	15.13%	199.00	-0.5%	-7.5%	6.8%	34.7%	372.4%	949.3%	17,650.4%
AAPL	Apple	13.06%	293.08	-0.4%	-5.1%	8.0%	46.9%	59.2%	125.9%	1,278.4%
MSFT	Microsoft	8.17%	365.46	-2.3%	-12.7%	-24.1%	-24.8%	11.7%	43.7%	729.5%
MU	Micron Technology	5.63%	1,048.51	-0.3%	39.6%	267.5%	721.7%	1,526.9%	1,210.6%	8,038.4%
AVGO	Broadcom	5.56%	382.07	0.5%	-7.6%	10.8%	45.9%	381.8%	808.0%	3,204.8%
AMD	Advanced Micro Devices	4.96%	519.74	-0.0%	11.2%	142.7%	275.5%	372.4%	507.0%	10,550.4%
INTC	Intel	3.68%	131.65	-0.5%	9.9%	256.8%	483.8%	307.1%	157.3%	418.9%
LRCX	Lam Research	2.83%	374.80	0.9%	22.8%	119.4%	294.1%	532.5%	526.3%	5,115.8%
AMAT	Applied Materials	2.80%	588.97	0.5%	36.3%	129.8%	229.3%	343.6%	351.1%	2,727.5%
CSCO	Cisco Systems	2.65%	119.73	-1.2%	-0.6%	57.1%	80.4%	158.5%	160.3%	483.7%
KLAC	KLA	1.94%	240.48	-1.6%	27.3%	98.4%	172.2%	439.8%	699.9%	3,807.6%
SNDK	SanDisk	1.86%	1,914.46	-2.5%	29.5%	706.5%	3,944.1%
TXN	Texas Instruments	1.67%	303.11	-0.4%	-2.0%	76.7%	51.4%	97.3%	85.7%	558.2%
ORCL	Oracle	1.64%	157.53	-4.6%	-18.0%	-18.7%	-26.1%	37.6%	114.8%	366.3%
PLTR	Palantir Technologies	1.51%	113.50	-2.7%	-17.1%	-36.1%	-20.8%	709.0%	323.8%
MRVL	Marvell Technology	1.49%	276.70	-0.8%	40.9%	226.0%	268.9%	383.4%	401.1%	2,943.9%
WDC	Western Digital	1.39%	643.83	-4.0%	33.0%	274.0%	940.1%	2,184.7%	1,122.6%	1,973.5%
STX	Seagate Technology	1.35%	993.25	-4.3%	22.3%	261.6%	638.6%	1,665.3%	1,232.9%	6,396.4%
IBM	International Business Machines	1.31%	262.96	-0.7%	3.6%	-10.1%	-8.2%	123.8%	126.9%	183.8%
QCOM	Qualcomm	1.29%	197.41	-3.3%	-16.8%	16.6%	29.5%	85.8%	59.8%	397.7%

Guidance Updates for XLK Top Holdings

	Ticker	Company	Earnings Date	Guidance Metric	Midpoint Value	% Change	Guidance Change
AMAT_5142026	AMAT	Applied Materials	5/14/2026	Q3 2026 Total Revenue	8.95 Bil	17.0%	RaisedRaised Prior Guidance of 7.65 Bil for Q2 2026
AMD_5052026	AMD	Advanced Micro Devices	5/5/2026	Q2 2026 Revenue	11.20 Bil	14.3%	Higher NewNew Guidance Higher than Prior Actual of 9.80 Bil for Q1 2026
AVGO_6032026	AVGO	Broadcom	6/3/2026	Q3 2026 Revenue	29.40 Bil	33.6%	Higher NewNew Guidance Higher than Prior Actual of 22.00 Bil for Q2 2026
CSCO_5132026	CSCO	Cisco Systems	5/13/2026	Q4 2026 Revenue	16.80 Bil	8.4%	RaisedRaised Prior Guidance of 15.50 Bil for Q3 2026
KLAC_4292026	KLAC	KLA	4/29/2026	Q4 2026 Revenue	3.58 Bil	6.7%	RaisedRaised Prior Guidance of 3.35 Bil for Q3 2026
MRVL_5272026	MRVL	Marvell Technology	5/27/2026	Q2 2027 Revenue	2.70 Bil	12.5%	RaisedRaised Prior Guidance of 2.40 Bil for Q1 2027
MU_6242026	MU	Micron Technology	6/24/2026	Q4 2026 Revenue	50.00 Bil	49.2%	RaisedRaised Prior Guidance of 33.50 Bil for Q3 2026
NVDA_5202026	NVDA	NVIDIA	5/20/2026	Q2 2027 Revenue	91.00 Bil	16.7%	RaisedRaised Prior Guidance of 78.00 Bil for Q1 2027
PLTR_5042026	PLTR	Palantir Technologies	5/4/2026	Q2 2026 Revenue	1.80 Bil	17.3%	Higher NewNew Guidance Higher than Prior Actual of 1.53 Bil for Q1 2026
SNDK_4302026	SNDK	SanDisk	4/30/2026	Q4 2026 Revenue	8.00 Bil	73.9%	Higher NewNew Guidance Higher than Prior Actual of 4.60 Bil for Q3 2026
STX_4282026	STX	Seagate Technology	4/28/2026	Q4 2026 Revenue	3.45 Bil	19.0%	Higher NewNew Guidance Higher than Prior Actual of 2.90 Bil for Q3 2026
TXN_4222026	TXN	Texas Instruments	4/22/2026	Q2 2026 Revenue	5.20 Bil	15.6%	Higher NewNew Guidance Higher than Prior Actual of 4.50 Bil for Q1 2026
WDC_4302026	WDC	Western Digital	4/30/2026	Q4 2026 Revenue	3.65 Bil	14.1%	Higher NewNew Guidance Higher than Prior Actual of 3.20 Bil for Q3 2026

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
XLK Return	35%	-28%	56%	22%	25%	28%	195%
Peers Return	33%	3%	17%	17%	16%	12%	143%
S&P 500 Return	27%	-19%	24%	23%	16%	8%	96%
Monthly Win Rates [3]
XLK Win Rate	75%	33%	75%	67%	58%	33%
Peers Win Rate	70%	43%	57%	62%	65%	47%
S&P 500 Win Rate	75%	42%	67%	75%	67%	50%
Max Drawdowns [4]
XLK Max Drawdown	-9%	-33%	-11%	-17%	-26%	-14%
Peers Max Drawdown	-10%	-25%	-14%	-12%	-19%	-13%
S&P 500 Max Drawdown	-5%	-25%	-10%	-8%	-19%	-9%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: VGT, XLF, XLV, XLE, XLI.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/24/2026 (YTD)

Sharpe Ratios Compared

One measure of reward vs. risk is a Sharpe ratio. A higher ratio indicates better risk-adjusted returns. Most funds have Sharpe ratios < 1.0.

Ticker	1Y	3Y	5Y
XLK	2.38	1.17	0.83
Equity Top Results (3Y)
NASA	5.73	5.73	5.73
ARKX	4.13	4.13	4.13
OMFL	3.75	3.75	3.75
IALT	2.84	2.84	2.84
NUSC	2.36	2.36	2.36

Results as of 5312026.

Event	XLK	S&P 500
2025 US Tariff Shock
% Loss	-25.7%	-18.8%
% Gain to Breakeven	34.5%	23.1%
Time to Breakeven	65 days	79 days
2024 Yen Carry Trade Unwind
% Loss	-17.0%	-7.8%
% Gain to Breakeven	20.4%	8.5%
Time to Breakeven	92 days	18 days
Summer-Fall 2023 Five Percent Yield Shock
% Loss	-10.0%	-9.5%
% Gain to Breakeven	11.2%	10.5%
Time to Breakeven	15 days	24 days
2022 Inflation Shock & Fed Tightening
% Loss	-33.1%	-24.5%
% Gain to Breakeven	49.5%	32.4%
Time to Breakeven	246 days	427 days
2020 COVID-19 Crash
% Loss	-31.2%	-33.7%
% Gain to Breakeven	45.2%	50.9%
Time to Breakeven	78 days	140 days
Q4 2018 Fed Policy Error / Growth Scare
% Loss	-23.8%	-19.2%
% Gain to Breakeven	31.2%	23.8%
Time to Breakeven	100 days	105 days

Compare to VGT, XLF, XLV, XLE, XLI

In The Past

State Street Technology Select Sector SPDR ETF's stock fell -25.7% during the 2025 US Tariff Shock. Such a loss loss requires a 34.5% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

Event	XLK	S&P 500
2025 US Tariff Shock
% Loss	-25.7%	-18.8%
% Gain to Breakeven	34.5%	23.1%
Time to Breakeven	65 days	79 days
2022 Inflation Shock & Fed Tightening
% Loss	-33.1%	-24.5%
% Gain to Breakeven	49.5%	32.4%
Time to Breakeven	246 days	427 days
2020 COVID-19 Crash
% Loss	-31.2%	-33.7%
% Gain to Breakeven	45.2%	50.9%
Time to Breakeven	78 days	140 days
Q4 2018 Fed Policy Error / Growth Scare
% Loss	-23.8%	-19.2%
% Gain to Breakeven	31.2%	23.8%
Time to Breakeven	100 days	105 days
2008-2009 Global Financial Crisis
% Loss	-51.5%	-53.4%
% Gain to Breakeven	106.2%	114.4%
Time to Breakeven	797 days	1085 days

Compare to VGT, XLF, XLV, XLE, XLI

In The Past

State Street Technology Select Sector SPDR ETF's stock fell -25.7% during the 2025 US Tariff Shock. Such a loss loss requires a 34.5% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

XLK Dip Buy History

XLK had 24 events since 1/1/2005 where the dip threshold of -5.0% within 60 days was triggered

25% median peak return within 1 year of dip event
299 days is the median time to peak return after a dip event
-7.8% median max drawdown within 1 year of dip event

60 Day Dip			XLK Subsequent Performance
Date	XLK	SPY	1Y	Peak Return	Max Drop	# Days to Peak
Median			21%	25%	-8%	299
2052026	-6%	1%	35%	46%	-6%	117
3032025	-7%	-3%	29%	40%	-18%	240
9062024	-7%	1%	34%	33%	-11%	341
4192024	-5%	2%	4%	27%	-6%	306
9262023	-7%	-4%	41%	48%	-1%	288
9292022	-7%	-5%	38%	50%	-4%	292
1252022	-6%	-5%	-9%	8%	-23%	15
3092020	-6%	-12%	60%	71%	-14%	340
10112018	-5%	-3%	20%	22%	-16%	286
4242018	-6%	-8%	23%	23%	-10%	365
6272016	-7%	-3%	35%	40%	0%	346
1152016	-6%	-7%	28%	29%	-2%	364
8202015	-6%	-4%	17%	17%	-8%	361
10152014	-5%	-5%	14%	18%	-1%	278
11082012	-7%	-1%	23%	24%	-2%	363
6012012	-5%	-5%	17%	21%	0%	350
8042011	-8%	-11%	23%	26%	-8%	242
6242011	-6%	-4%	15%	26%	-8%	283
6042010	-5%	-7%	21%	28%	-5%	258
7142008	-6%	-10%	-17%	8%	-40%	32
1042008	-9%	-9%	-36%	2%	-47%	136
5162006	-5%	1%	22%	22%	-9%	365
10122005	-7%	-4%	16%	16%	-3%	365
2102005	-5%	1%	9%	12%	-8%	335

[1] Dip event defined as first instance dip threshold is triggered within a 60-day time period.
[2] Analysis for period from 1/1/2005 to 6/24/2026

XLK had 13 events since 1/1/2005 where the dip threshold of -10% within 90 days was triggered

32% median peak return within 1 year of dip event
308 days is the median time to peak return after a dip event
-7.2% median max drawdown within 1 year of dip event

90 Day Dip			XLK Subsequent Performance
Date	XLK	SPY	1Y	Peak Return	Max Drop	# Days to Peak
Median			31%	32%	-7%	308
3282025	-12%	-6%	33%	48%	-13%	215
12092022	-11%	-5%	46%	44%	-7%	364
9132022	-11%	-8%	32%	38%	-11%	308
3112022	-11%	-8%	-2%	14%	-19%	18
3162020	-14%	-22%	87%	94%	-2%	333
11202018	-11%	-5%	37%	39%	-10%	364
9292015	-10%	-11%	26%	26%	0%	359
8082011	-12%	-15%	32%	34%	-2%	238
8202010	-11%	-11%	7%	28%	-3%	181
9042008	-10%	-11%	-7%	1%	-38%	4
1182008	-11%	-10%	-37%	11%	-43%	122
6272006	-10%	-3%	31%	32%	-4%	356
4142005	-11%	-2%	17%	19%	-3%	356

[1] Dip event defined as first instance dip threshold is triggered within a 90-day time period.
[2] Analysis for period from 1/1/2005 to 6/24/2026

XLK had 4 events since 1/1/2005 where the dip threshold of -20% within 180 days was triggered

20% median peak return within 1 year of dip event
174 days is the median time to peak return after a dip event
-26% median max drawdown within 1 year of dip event

180 Day Dip			XLK Subsequent Performance
Date	XLK	SPY	1Y	Peak Return	Max Drop	# Days to Peak
Median			14%	20%	-26%	174
12192022	-20%	-15%	53%	55%	-3%	365
8302022	-21%	-14%	30%	33%	-14%	322
9102008	-21%	-16%	-1%	2%	-38%	2
7212008	-21%	-17%	-12%	6%	-41%	25

[1] Dip event defined as first instance dip threshold is triggered within a 180-day time period.
[2] Analysis for period from 1/1/2005 to 6/24/2026

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Current Dip Buy Opportunities Across ETFs

ETFs currently down 5% or more from trailing 6M peaks.

Ticker	Name	Dip %	Mkt Price	Price Date	Peak Price	Peak Date	# Days
XLG	Invesco S&P 500 Top 50 ETF	-7.5%	59.72	6242026	64.59	6012026	23
MAGS	Roundhill Magnificent Seven ETF	-11.6%	62.68	6242026	70.94	5142026	41
ONEQ	Fidelity Nasdaq Composite Index ETF	-5.9%	100.36	6242026	106.70	6022026	22
QQEW	First Trust Nasdaq-100 Select Equal Weight ETF	-5.3%	153.30	6242026	161.85	6012026	23
VUG	Vanguard Growth ETF	-7.2%	83.83	6242026	90.29	6012026	23
IWF	iShares Russell 1000 Growth ETF	-7.1%	119.67	6242026	128.77	6012026	23
IVW	iShares S&P 500 Growth ETF	-5.8%	133.36	6242026	141.59	6012026	23
SCHG	Schwab U.S. Large-Cap Growth ETF	-6.6%	32.98	6242026	35.30	6012026	23
SPYG	State Street SPDR Portfolio S&P 500 Growth ETF	-5.8%	115.46	6242026	122.60	6012026	23
VONG	Vanguard Russell 1000 Growth ETF	-7.0%	123.14	6242026	132.35	6012026	23
MGK	Vanguard Mega Cap Growth ETF	-7.5%	85.18	6242026	92.06	6012026	23
AKRE	Akre Focus ETF	-20.2%	53.12	6242026	66.59	1062026	169
FNDF	Schwab Fundamental International Equity ETF	-5.1%	52.33	6242026	55.17	6022026	22
EFV	iShares MSCI EAFE Value ETF	-5.3%	75.70	6242026	79.94	2252026	119
SCZ	iShares MSCI EAFE Small-Cap ETF	-5.1%	82.07	6242026	86.49	5312026	24
VSS	Vanguard FTSE All-World EX-US Small-Cap Index Fund	-5.1%	153.51	6242026	161.79	5112026	44
SCHC	Schwab International Small-Cap Equity ETF	-7.3%	47.78	6242026	51.54	3012026	115
FNDC	Schwab Fundamental International Small Equity ETF	-5.0%	48.12	6242026	50.67	5102026	45
IEMG	iShares Core MSCI Emerging Markets ETF	-5.3%	81.45	6242026	86.00	6222026	2
EEM	iShares MSCI Emerging Markets ETF	-5.6%	67.25	6242026	71.21	6222026	2
FNDE	Schwab Fundamental Emerging Markets Equity ETF	-6.3%	39.68	6242026	42.35	6022026	22
EWY	iShares MSCI South Korea ETF	-10.0%	197.26	6242026	219.20	6212026	3
EWZ	iShares MSCI Brazil ETF	-18.9%	33.85	6242026	41.73	4142026	71
FXI	iShares China Large-Cap ETF	-20.6%	32.36	6242026	40.78	1292026	146
ILF	iShares Latin America 40 ETF	-13.0%	33.16	6242026	38.10	4142026	71
KWEB	KraneShares CSI China Internet ETF	-35.5%	24.30	6242026	37.66	1122026	163
SCHY	Schwab International Dividend Equity ETF	-6.9%	31.42	6242026	33.73	3012026	115
ARKK	ARK Innovation ETF	-7.8%	76.72	6242026	83.21	1132026	162
URA	Global X Uranium ETF	-27.6%	44.72	6242026	61.81	1282026	147
BOTZ	Global X Funds Global X Robotics & Artificial Intelligence ETF	-12.1%	36.58	6242026	41.63	5132026	42
ROBO	ROBO Global Robotics & Automation Index ETF	-8.8%	82.35	6242026	90.34	6022026	22
LIT	Global X Lithium & Battery Tech ETF	-13.9%	78.91	6242026	91.62	5112026	44
ICLN	iShares Global Clean Energy ETF	-13.8%	20.48	6242026	23.75	6022026	22
ARKQ	ARK Autonomous Technology & Robotics ETF	-13.6%	124.22	6242026	143.82	5282026	27
ARKW	ARK Next Generation Internet ETF	-10.4%	138.48	6242026	154.48	12252025	181
ARKX	ARK Space & Defense Innovation ETF	-14.7%	32.18	6242026	37.74	5282026	27
NASA	Tema Space Innovators ETF	-34.7%	27.34	6242026	41.89	5272026	28
XOVR	EntrepreneurShares Series Trust ERShares Private-Public Crossover ETF	-5.8%	19.72	6242026	20.93	6162026	8
AGIX	KraneShares Artificial Intelligence ETF	-8.9%	45.01	6242026	49.40	6012026	23
CGBL	Capital Group Core Balanced ETF	-6.2%	34.41	6242026	36.67	2252026	119
GDE	WisdomTree Efficient Gold Plus Equity Strategy Fund	-15.4%	59.54	6242026	70.39	5112026	44
RAAX	VanEck Real Assets ETF	-8.8%	38.94	6242026	42.70	5112026	44
VGT	Vanguard Information Technology ETF	-8.4%	115.13	6242026	125.62	6022026	22
XLK	State Street Technology Select Sector SPDR ETF	-7.6%	183.05	6242026	198.21	6022026	22
XLE	State Street Energy Select Sector SPDR ETF	-14.4%	53.57	6242026	62.56	3292026	87
XLC	State Street Communication Services Select Sector SPDR ETF	-11.0%	106.54	6242026	119.70	2012026	143
XLY	State Street Consumer Discretionary Select Sector SPDR ETF	-7.4%	115.07	6242026	124.27	1122026	163
XLP	State Street Consumer Staples Select Sector SPDR ETF	-5.7%	84.44	6242026	89.51	3012026	115
IYM	iShares U.S. Basic Materials ETF	-5.2%	179.26	6242026	189.08	3022026	114
FXN	First Trust Energy AlphaDEX Fund	-12.5%	20.28	6242026	23.18	3292026	87
SMH	VanEck Semiconductor ETF	-7.5%	618.92	6242026	668.91	6222026	2
SOXX	iShares Semiconductor ETF	-8.2%	601.50	6242026	655.01	6222026	2
ITA	iShares U.S. Aerospace & Defense ETF	-5.7%	236.19	6242026	250.42	3022026	114
XOP	State Street SPDR S&P Oil & Gas Exploration & Production ETF	-18.7%	153.03	6242026	188.18	3292026	87
IGV	iShares Expanded Tech-Software Sector ETF	-20.4%	86.17	6242026	108.23	12252025	181
MISL	First Trust Indxx Aerospace & Defense ETF	-13.7%	43.97	6242026	50.98	1192026	156
RING	iShares MSCI Global Gold Miners ETF	-35.6%	64.06	6242026	99.42	3012026	115
SOXQ	Invesco PHLX Semiconductor ETF	-8.1%	105.84	6242026	115.11	6222026	2
BWX	State Street SPDR Bloomberg International Treasury Bond ETF	-5.6%	21.66	6242026	22.95	2162026	128
PDBC	Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF	-16.6%	15.78	6242026	18.91	5122026	43
DBC	Invesco DB Commodity Index Tracking Fund	-16.5%	26.45	6242026	31.69	5122026	43
COMT	iShares GSCI Commodity Dynamic Roll Strategy ETF	-17.6%	30.11	6242026	36.53	5192026	36
GSG	iShares GSCI Commodity	-5.8%	30.01	6242026	31.85	3182026	98
BCI	abrdn Bloomberg All Commodity Strategy K-1 Free ETF	-14.8%	22.07	6242026	25.91	5122026	43
FTGC	First Trust Global Tactical Commodity Strategy Fund	-12.3%	26.76	6242026	30.53	5122026	43
HGER	Harbor Commodity All-Weather Strategy ETF	-14.0%	28.77	6242026	33.47	5122026	43
GLD	SPDR Gold Trust	-26.2%	365.92	6242026	495.90	1292026	146
IAU	iShares Gold Trust	-26.2%	74.99	6242026	101.57	1292026	146
GLDM	SPDR Gold MiniShares Trust	-26.1%	78.89	6242026	106.77	1292026	146
SGOL	ETFS Physical Swiss Gold Shares	-13.1%	44.66	6242026	51.41	1292026	146
BAR	Direxion Daily Gold Bull 3X Shares	-16.6%	44.34	6242026	53.16	1292026	146
SLV	iShares Silver Trust	-51.0%	51.78	6242026	105.60	1282026	147
SIVR	ETFS Physical Silver Shares Trust ETF	-24.8%	83.39	6242026	110.87	1282026	147
PPLT	ETFS Physical Platinum Shares	-43.6%	14.23	6242026	25.23	1252026	150
CPER	United States Copper Index Fund ETV	-13.9%	33.33	6242026	38.71	1292026	146
PALL	ETFS Physical Palladium Shares	-43.2%	21.12	6242026	37.18	1282026	147
USO	United States Oil Fund LP	-30.5%	106.29	6242026	152.96	5192026	36
UNG	United States Natural Gas Fund LP	-30.6%	11.73	6242026	16.90	2012026	143
BNO	United States Brent Oil Fund LP ETV	-7.1%	55.85	6242026	60.13	5042026	51
IBIT	iShares Bitcoin Trust ETF	-38.9%	33.87	6242026	55.44	1142026	161
FBTC	Fidelity Wise Origin Bitcoin Fund	-38.9%	52.05	6242026	85.12	1142026	161
GBTC	Grayscale Bitcoin Trust ETF	-19.0%	61.84	6242026	76.31	1142026	161
ETHA	iShares Ethereum Trust ETF	-53.4%	11.92	6242026	25.59	1142026	161

ETF Fund Flows

Largest fund inflows and outflows across ETFs, with the asset-allocation rotation they imply.

Net fund flows · as of 2026-06-23

Asset allocation rotation · Past week

Bond ETFs drew the largest net inflows (+$1.7B), followed by Cash (+$824M), while Equity (−$11.4B) and Crypto (−$623M) saw the largest outflows.
Within the mix, money rotated into US Large Cap Core (+$29.0B) and out of Broad Sector (−$11.8B).
Relative to fund size, FLKR drew the largest inflow (+18.3% of AUM) and XMHQ the largest outflow (−26.9%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	IVV	iShares Core S&P 500 ETF	Equity US Large Cap Core	+$33.95B	+4.0%
2	SPY	State Street SPDR S&P 500 ETF Trust	Equity US Large Cap Core	+$27.19B	+3.5%
3	QQQ	Invesco QQQ Trust, Series 1	Equity US Nasdaq Growth	+$6.33B	+1.3%
4	DRAM	Roundhill Memory ETF	Other	+$2.95B	+13.1%
5	AVLV	Avantis U.S. Large Cap Value ETF	Other	+$1.96B	+13.2%
6	VEA	Vanguard FTSE Developed Markets ETF	Equity International Developed Broad	+$1.3B	+0.6%
7	VXUS	Vanguard Total International Stock ETF	Equity International Broad	+$1.06B	+0.7%
8	IWD	iShares Russell 1000 Value ETF	Equity US Large Value	+$998M	+1.3%
9	VWO	Vanguard FTSE Emerging Markets ETF	Equity Emerging Markets	+$835M	+0.7%
10	VONG	Vanguard Russell 1000 Growth ETF	Equity US Large Growth	+$718M	+1.6%

#	Ticker	Name	Type	Net flow	% of AUM
1	FLKR	Franklin FTSE South Korea ETF	Other	+$231M	+18.3%
2	TGRT	T. Rowe Price Growth ETF	Other	+$226M	+18.2%
3	CGSM	Capital Group Short Duration Municipal Income ETF	Other	+$202M	+14.2%
4	AVLV	Avantis U.S. Large Cap Value ETF	Other	+$1.96B	+13.2%
5	DRAM	Roundhill Memory ETF	Other	+$2.95B	+13.1%
6	TSPA	T. Rowe Price U.S. Equity Research ETF	Other	+$437M	+11.8%
7	AVIV	Avantis International Large Cap Value ETF	Equity International Developed Broad	+$212M	+10.7%
8	SNXX	Tradr 2X Long SNDK Daily ETF	Other	+$459M	+8.8%
9	USO	United States Oil Fund LP	Commodity Energy	+$150M	+7.8%
10	CTA	Simplify Managed Futures Strategy ETF	Other	+$99M	+6.3%

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	VOO	Vanguard S&P 500 ETF	Equity US Large Cap Core	-$32.36B	-3.2%
2	XLK this	State Street Technology Select Sector SPDR ETF	Equity Broad Sector	-$8.71B	-7.0%
3	SMH	VanEck Semiconductor ETF	Equity Industry Subsector	-$7.94B	-10.3%
4	VO	Vanguard Mid-Cap ETF	Equity US Mid Cap Core	-$4.61B	-4.2%
5	SCHD	Schwab U.S. Dividend Equity ETF	Equity Dividend Income	-$4.38B	-4.6%
6	VXF	Vanguard Extended Market ETF	Other	-$2.78B	-9.0%
7	VB	Vanguard Small-Cap ETF	Equity US Small Cap Core	-$2.77B	-3.4%
8	IJR	iShares Core S&P Small-Cap ETF	Equity US Small Cap Core	-$2.69B	-2.5%
9	VTV	Vanguard Value ETF	Equity US Large Value	-$2.38B	-1.3%
10	VLUE	iShares MSCI USA Value Factor ETF	Equity Factor Smart Beta	-$2.01B	-15.4%

#	Ticker	Name	Type	Net flow	% of AUM
1	XMHQ	Invesco S&P MidCap Quality ETF	Other	-$1.43B	-26.9%
2	DIVB	iShares Core Dividend ETF	Other	-$393M	-26.3%
3	VFLO	VictoryShares Free Cash Flow ETF	Other	-$1.87B	-24.7%
4	KOMP	State Street SPDR S&P Kensho New Economies Composite ETF	Other	-$562M	-20.0%
5	USVM	VictoryShares US Small Mid Cap Value Momentum ETF	Other	-$311M	-18.2%
6	IMCG	iShares Morningstar Mid-Cap Growth ETF	Other	-$704M	-17.9%
7	XSD	State Street SPDR S&P Semiconductor ETF	Other	-$615M	-17.0%
8	NASA	Tema Space Innovators ETF	Equity Thematic	-$343M	-16.3%
9	VLUE	iShares MSCI USA Value Factor ETF	Equity Factor Smart Beta	-$2.01B	-15.4%
10	MOAT	VanEck Morningstar Wide Moat ETF	Other	-$1.64B	-14.4%

Asset allocation rotation · Past month

Equity ETFs drew the largest net inflows (+$83.6B), followed by Bond (+$20.8B), while Crypto (−$4.5B) and Commodity (−$4.3B) saw the largest outflows.
Within the mix, money rotated into US Large Cap Core (+$42.4B) and out of Factor Smart Beta (−$5.8B).
Relative to fund size, DRAM drew the largest inflow (+52.7% of AUM) and THRO the largest outflow (−36.7%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	IVV	iShares Core S&P 500 ETF	Equity US Large Cap Core	+$40.28B	+4.8%
2	SPY	State Street SPDR S&P 500 ETF Trust	Equity US Large Cap Core	+$15.24B	+2.0%
3	QQQ	Invesco QQQ Trust, Series 1	Equity US Nasdaq Growth	+$9.23B	+1.9%
4	DRAM	Roundhill Memory ETF	Other	+$8.74B	+52.7%
5	SPYM	State Street SPDR Portfolio S&P 500 ETF	Equity US Large Cap Core	+$6.92B	+4.7%
6	QQQM	Invesco NASDAQ 100 ETF	Equity US Nasdaq Growth	+$5.39B	+5.5%
7	IUSB	iShares Core Universal USD Bond ETF	Bond Core Plus Multisector	+$5.16B	+12.4%
8	SGOV	iShares 0-3 Month Treasury Bond ETF	Cash	+$4.53B	+4.8%
9	VHT	Vanguard Health Care ETF	Equity Broad Sector	+$4.38B	+26.3% ⚠
10	VTI	Vanguard Total Stock Market ETF	Equity US Total Market	+$4.05B	+0.6%

#	Ticker	Name	Type	Net flow	% of AUM
1	DRAM	Roundhill Memory ETF	Other	+$8.74B	+52.7%
2	ARKQ	ARK Autonomous Technology & Robotics ETF	Equity Thematic	+$1.21B	+52.4% ⚠
3	CORO	iShares International Country Rotation Active ETF	Equity International Broad	+$3.71B	+50.5%
4	NASA	Tema Space Innovators ETF	Equity Thematic	+$1.25B	+50.5%
5	IALT	iShares Systematic Alternatives Active ETF	Equity Asset Allocation	+$1.88B	+42.2% ⚠
6	FTLS	First Trust Long/Short Equity ETF	Equity Asset Allocation	+$816M	+34.8%
7	XOVR	ERShares Private-Public Crossover ETF	Equity Thematic	+$703M	+32.2%
8	USO	United States Oil Fund LP	Commodity Energy	+$545M	+28.8%
9	VHT	Vanguard Health Care ETF	Equity Broad Sector	+$4.38B	+26.3% ⚠
10	GGOV	iShares Global Government Bond USD Hedged Active ETF	Bond International	+$679M	+25.4% ⚠

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	VOO	Vanguard S&P 500 ETF	Equity US Large Cap Core	-$20.47B	-2.1%
2	QUAL	iShares MSCI USA Quality Factor ETF	Equity Factor Smart Beta	-$7.01B	-15.4%
3	EFV	iShares MSCI EAFE Value ETF	Equity International Developed Broad	-$5.7B	-22.7%
4	TLT	iShares 20+ Year Treasury Bond ETF	Bond Long Treasury	-$3.13B	-7.7%
5	IBIT	iShares Bitcoin Trust ETF	Crypto	-$3.12B	-6.3%
6	IAGG	iShares Core International Aggregate Bond ETF	Bond International	-$2.79B	-25.3%
7	IVE	iShares S&P 500 Value ETF	Equity US Large Value	-$2.69B	-5.6%
8	THRO	iShares U.S. Thematic Rotation Active ETF	Equity Thematic	-$2.4B	-36.7%
9	GLD	SPDR Gold Shares	Commodity Gold	-$2.38B	-1.7%
10	DIA	State Street SPDR Dow Jones Industrial Average ETF Trust	Equity US Large Concentrated	-$2.21B	-5.0%

#	Ticker	Name	Type	Net flow	% of AUM
1	THRO	iShares U.S. Thematic Rotation Active ETF	Equity Thematic	-$2.4B	-36.7%
2	MAGS	Roundhill Investments - Magnificent Seven ETF	Equity US Large Concentrated	-$1.05B	-28.1%
3	IAGG	iShares Core International Aggregate Bond ETF	Bond International	-$2.79B	-25.3%
4	EFV	iShares MSCI EAFE Value ETF	Equity International Developed Broad	-$5.7B	-22.7%
5	IYK	iShares U.S. Consumer Staples ETF	Other	-$251M	-18.0%
6	DBA	Invesco DB Agriculture Fund	Other	-$213M	-17.8%
7	KWEB	KraneShares CSI China Internet ETF	Equity Emerging Markets	-$1.06B	-17.8%
8	ASHR	Xtrackers Harvest CSI 300 China A-Shares ETF	Equity Emerging Markets	-$327M	-17.7%
9	QUAL	iShares MSCI USA Quality Factor ETF	Equity Factor Smart Beta	-$7.01B	-15.4%
10	ILF	iShares Latin America 40 ETF	Equity Emerging Markets	-$497M	-12.4%

Asset allocation rotation · Past 3 months

Equity ETFs drew the largest net inflows (+$206.8B), followed by Bond (+$55.0B), while Commodity (−$5.4B) and Crypto (−$4.2B) saw the largest outflows.
Within the mix, money rotated into US Large Cap Core (+$111.4B) and out of US Large Concentrated (−$5.5B).
Relative to fund size, DRAM drew the largest inflow (+208.4% of AUM) and MISL the largest outflow (−47.6%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	IVV	iShares Core S&P 500 ETF	Equity US Large Cap Core	+$66.76B	+8.3%
2	SPY	State Street SPDR S&P 500 ETF Trust	Equity US Large Cap Core	+$26.28B	+3.5%
3	SPYM	State Street SPDR Portfolio S&P 500 ETF	Equity US Large Cap Core	+$19.28B	+13.8%
4	QQQ	Invesco QQQ Trust, Series 1	Equity US Nasdaq Growth	+$19.03B	+4.1%
5	DRAM	Roundhill Memory ETF	Other	+$17.45B	+208.4%
6	SGOV	iShares 0-3 Month Treasury Bond ETF	Cash	+$13.95B	+16.0%
7	QQQM	Invesco NASDAQ 100 ETF	Equity US Nasdaq Growth	+$13.08B	+14.5%
8	VTI	Vanguard Total Stock Market ETF	Equity US Total Market	+$12.82B	+2.1%
9	SPLG	SPDR Portfolio S&P 500 ETF	Equity US Large Cap Core	+$8.52B	+7.2%
10	SCHD	Schwab U.S. Dividend Equity ETF	Equity Dividend Income	+$8.14B	+9.0%

#	Ticker	Name	Type	Net flow	% of AUM
1	DRAM	Roundhill Memory ETF	Other	+$17.45B	+208.4%
2	XOVR	ERShares Private-Public Crossover ETF	Equity Thematic	+$1.49B	+131.9%
3	FXN	First Trust Energy AlphaDEX Fund	Equity Broad Sector	+$903M	+75.6%
4	IYT	iShares U.S. Transportation ETF	Equity Industry Subsector	+$1.29B	+61.5%
5	AVIV	Avantis International Large Cap Value ETF	Equity International Developed Broad	+$799M	+61.3%
6	ARKQ	ARK Autonomous Technology & Robotics ETF	Equity Thematic	+$1.26B	+58.0% ⚠
7	TSPA	T. Rowe Price U.S. Equity Research ETF	Other	+$1.55B	+52.7%
8	KLMN		Other	+$1.01B	+45.8%
9	SOXQ	Invesco PHLX Semiconductor ETF	Equity Industry Subsector	+$869M	+45.4%
10	DTCR	Global X - Data Center & Digital Infrastructure ETF	Other	+$827M	+45.0%

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	VOO	Vanguard S&P 500 ETF	Equity US Large Cap Core	-$10.73B	-1.2%
2	QUAL	iShares MSCI USA Quality Factor ETF	Equity Factor Smart Beta	-$7.41B	-15.2%
3	EFV	iShares MSCI EAFE Value ETF	Equity International Developed Broad	-$5.75B	-19.5%
4	GLD	SPDR Gold Shares	Commodity Gold	-$4.9B	-3.2%
5	IWM	iShares Russell 2000 ETF	Equity US Small Cap Core	-$4.76B	-6.2%
6	DIA	State Street SPDR Dow Jones Industrial Average ETF Trust	Equity US Large Concentrated	-$3.76B	-8.6%
7	IVE	iShares S&P 500 Value ETF	Equity US Large Value	-$2.51B	-5.2%
8	THRO	iShares U.S. Thematic Rotation Active ETF	Equity Thematic	-$2.21B	-28.1%
9	VB	Vanguard Small-Cap ETF	Equity US Small Cap Core	-$2.13B	-2.8%
10	XLP	State Street Consumer Staples Select Sector SPDR ETF	Equity Broad Sector	-$2.08B	-14.3%

#	Ticker	Name	Type	Net flow	% of AUM
1	MISL	First Trust Indxx Aerospace & Defense ETF	Equity Industry Subsector	-$661M	-47.6%
2	THRO	iShares U.S. Thematic Rotation Active ETF	Equity Thematic	-$2.21B	-28.1%
3	OMFL	Invesco Russell 1000 Dynamic Multifactor ETF	Equity Factor Smart Beta	-$1.29B	-27.9%
4	SH	ProShares - Short S&P500	Other	-$282M	-25.5%
5	AKRE	Akre Focus ETF	Equity US Large Growth	-$1.45B	-23.1%
6	IYJ	iShares U.S. Industrials ETF	Equity Broad Sector	-$449M	-23.0%
7	IAI	iShares U.S. Broker-Dealers & Securities Exchanges ETF	Equity Industry Subsector	-$325M	-21.9%
8	EFV	iShares MSCI EAFE Value ETF	Equity International Developed Broad	-$5.75B	-19.5%
9	RING	iShares MSCI Global Gold Miners ETF	Equity Industry Subsector	-$543M	-18.7%
10	IXC	iShares Global Energy ETF	Other	-$416M	-15.8%

Largest ETF fund flows across ~2564 funds (min AUM $100M). Net creations/redemptions; leveraged & inverse ETFs excluded. A ⚠ marks a day excluded as a suspected data error.

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About XLK

Holdings Count: 74
Expense Ratio: 0.08%
Inception Date: 1998-12-16

State Street Technology Select Sector SPDR ETF
The State Street Technology Select Sector SPDR ETF (XLK) aims to replicate the investment performance, including both price appreciation and income generation, of the Technology Select Sector Index before any expenses. This underlying index is specifically designed to accurately represent the technology companies found within the broader S&P 500 Index. XLK provides focused exposure to a range of technology sub-sectors, encompassing firms involved in hardware, data storage, software, communication equipment, semiconductors, IT services, and electronic components. This structure allows investors to implement precise strategic or tactical allocations to the tech sector, offering a more targeted approach compared to conventional, broader investment styles.
Asset Class: Equity | ETF Website

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
ABSI	Absci	1.5	36.0%	188.7%
WEN	Wendy's	1.5	25.7%	-2.1%
LIFE	Ethos Technologies	0.9	18.6%	2095.0%
KBH	KB Home	3.9	16.7%	10.0%
DFTX	Definium Therapeutics, Inc.	4.6	16.4%	211.8%
CCXI	Churchill Capital XI	0.7	15.1%	16.9%
FOUR	Shift4 Payments	3.3	14.4%	-29.8%
FMCC	Federal Home Loan Mortgage	20.8	14.3%	-36.7%
DFH	Dream Finders Homes	1.5	13.4%	-2.2%
FNMA	Federal National Mortgage Association...	41.0	13.4%	-34.9%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
HTZ	Hertz Global	0.9	-40.7%	-41.6%
HYLN	Hyliion	0.9	-19.3%	167.4%
CNTN	Canton Strategic	0.6	-17.5%	-12.0%
AEVA	Aeva Technologies	1.3	-14.9%	50.9%
GTN-A	Gray Media	0.7	-14.6%	-40.7%
AVEX	AEVEX	0.7	-14.5%	-43.0%
NVTS	Navitas Semiconductor	4.2	-14.4%	156.6%
NG	Novagold Resources	2.6	-14.1%	-33.5%
YSS	York Space Systems	3.1	-14.1%	-27.0%
DGXX	Digi Power X	0.4	-12.8%	129.8%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
QURE	uniQure	3.1	81.0%	104.1%
DFTX	Definium Therapeutics, Inc.	4.6	74.4%	211.8%
APGE	Apogee Therapeutics	9.2	55.7%	75.8%
ABSI	Absci	1.5	43.9%	188.7%
MNPR	Monopar Therapeutics	0.8	42.7%	36.3%
JBIO	Jade Biosciences	1.3	41.0%	41.9%
STTK	Shattuck Labs	0.7	38.8%	64.7%
BFLY	Butterfly Network	2.0	37.5%	104.5%
BRBR	BellRing Brands	1.4	34.9%	-55.4%
FDMT	4D Molecular Therapeutics	0.8	34.0%	54.9%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
HTZ	Hertz Global	0.9	-39.9%	-41.6%
HYLN	Hyliion	0.9	-33.8%	167.4%
VELO	Velo3D	0.4	-27.9%	31.4%
NG	Novagold Resources	2.6	-25.6%	-33.5%
AXTI	AXT	3.7	-24.6%	329.0%
YSS	York Space Systems	3.1	-24.5%	-27.0%
INOD	Innodata	2.7	-24.1%	60.1%
NEWP	New Pacific Metals	0.7	-23.4%	7.1%
MSTR	Strategy	31.4	-23.4%	-38.1%
AVEX	AEVEX	0.7	-22.7%	-43.0%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
NVRI	Enviri	1.8	301.6%	339.2%
REPL	Replimune	1.0	129.5%	15.9%
APPS	Digital Turbine	1.2	122.9%	102.8%
QURE	uniQure	3.1	101.9%	104.1%
ABSI	Absci	1.5	97.5%	188.7%
DFTX	Definium Therapeutics, Inc.	4.6	87.2%	211.8%
BFLY	Butterfly Network	2.0	73.8%	104.5%
CDNL	Cardinal Infrastructure	1.2	67.7%	238.9%
RXT	Rackspace Technology	1.7	64.3%	602.4%
APGE	Apogee Therapeutics	9.2	63.5%	75.8%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
ADCT	ADC Therapeutics	0.2	-68.4%	-69.7%
VRRM	Verra Mobility	0.7	-67.5%	-80.4%
SATL	Satellogic	0.7	-52.5%	169.5%
AXTI	AXT	3.7	-50.2%	329.0%
LUNR	Intuitive Machines	2.3	-50.0%	17.9%
FLY	Firefly Aerospace	4.0	-49.5%	11.7%
TMCR	Metals Royalty	0.4	-47.5%	-48.4%
BKSY	BlackSky Technology	0.9	-47.3%	34.5%
SOC	Sable Offshore	1.1	-46.2%	-12.1%
HTZ	Hertz Global	0.9	-43.4%	-41.6%

Peer Comparisons

Peers to compare with:

Profile

	XLK	VGT	XLF	XLV	XLE	XLI	Median
Name	State Stre.	Vanguard I.	State Stre.	State Stre.	State Stre.	State Stre.
Asset Class	Equity	Equity	Equity	Equity	Equity	Equity	-
AUM ($ Bil)	130.3	170.1	51.9	38.5	36.8	32.5	45.2
Expense Ratio	0.08%	0.09%	0.08%	0.08%	0.08%	0.08%	0.08%
10-D Avg Volume (Mil)	13.49	4.98	39.99	10.81	45.02	9.56	12.15
Latest Day Volume (Mil)	10.78	4.40	26.88	11.41	25.82	6.66	11.10
Holdings Count	74	310	76	60	21	80	75
Inception Date	12/16/1998	1/26/2004	12/16/1998	12/16/1998	12/16/1998	12/16/1998	-

Fundamentals

	XLK	VGT	XLF	XLV	XLE	XLI	Median
Name	State Stre.	Vanguard I.	State Stre.	State Stre.	State Stre.	State Stre.
Net Asset Value	185.77	120.14	54.06	150.72	54.68	179.60	-
Premium/Discount	-1.5%	-4.2%	-0.6%	1.7%	-2.0%	0.3%	-1.0%
Distribution Yield	0.4%	0.3%	1.5%	1.6%	2.8%	1.1%	1.3%
Sales Yield	10.3%	14.1%	29.6%	66.4%	64.8%	31.0%	30.3%
Earnings Yield	2.5%	2.8%	6.0%	3.5%	5.1%	3.2%	3.4%

Valuation

	XLK	VGT	XLF	XLV	XLE	XLI	Median
Name	State Stre.	Vanguard I.	State Stre.	State Stre.	State Stre.	State Stre.
P/S (TTM)	9.7x	7.1x	3.4x	1.5x	1.5x	3.2x	3.3x
P/E (TTM)	39.9x	36.3x	16.6x	28.3x	19.5x	31.1x	29.7x
P/FCF (TTM)	45.3x	43.6x	34.5x	23.0x	22.9x	33.1x	33.8x
Forward P/E	23.0x	22.2x	15.0x	17.4x	12.2x	25.2x	19.8x
Forward P/S	7.3x	5.6x	3.2x	1.4x	1.3x	3.0x	3.1x

Risk

	XLK	VGT	XLF	XLV	XLE	XLI	Median
Name	State Stre.	Vanguard I.	State Stre.	State Stre.	State Stre.	State Stre.
Volatility (1Y)	23.5%	22.7%	14.6%	15.1%	20.8%	16.3%	18.6%
Volatility (3Y)	24.3%	24.1%	16.0%	14.0%	21.6%	16.4%	19.0%
Volatility (5Y)	25.3%	25.5%	18.6%	14.8%	26.1%	17.6%	22.0%
Beta (1Y)	1.64	1.62	0.68	0.40	-0.15	0.96	0.82
Beta (3Y)	1.47	1.48	0.79	0.48	0.50	0.91	0.85
Beta (5Y)	1.38	1.40	0.87	0.56	0.63	0.88	0.88
Sharpe Ratio (1Y)	1.88	1.77	0.53	1.14	1.27	1.52	1.40
Sharpe Ratio (3Y)	1.18	1.17	1.16	0.54	0.69	1.26	1.16
Sharpe Ratio (5Y)	0.90	0.84	0.58	0.47	0.77	0.82	0.79
Max Drawdown (1Y)	-15.9%	-16.4%	-14.8%	-10.5%	-14.4%	-12.2%	-14.6%
Max Drawdown (3Y)	-25.7%	-27.2%	-15.5%	-17.1%	-20.1%	-18.5%	-19.3%
Max Drawdown (5Y)	-33.6%	-35.1%	-25.8%	-17.1%	-26.0%	-21.6%	-25.9%

Returns

	XLK	VGT	XLF	XLV	XLE	XLI	Median
Name	State Stre.	Vanguard I.	State Stre.	State Stre.	State Stre.	State Stre.
1M Return	1.5%	-0.4%	3.4%	2.3%	-10.0%	4.9%	1.9%
3M Return	34.4%	29.5%	9.0%	5.9%	-11.9%	9.9%	9.4%
6M Return	26.9%	22.2%	-1.2%	-0.2%	23.2%	16.3%	19.3%
YTD Return	27.3%	22.5%	-1.4%	-0.5%	20.6%	16.5%	18.6%
1Y Return	51.3%	45.8%	7.0%	17.5%	27.5%	26.6%	27.0%
2Y Return	60.2%	58.1%	34.2%	8.7%	28.9%	50.5%	42.4%
3Y Return	115.8%	113.5%	67.9%	21.9%	46.1%	78.7%	73.3%

Short Interest

Short Interest: As Of Date	5292026
Short Interest: Shares Quantity	16.9 Mil
Short Interest: % Change Since 5152026	4.1%
Average Daily Volume	13.4 Mil
Days-to-Cover Short Interest	1.3 days

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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State Street Technology Select Sector SPDR ETF (XLK)

Market Price (6/25/2026): $188.0

State Street Technology Select Sector SPDR ETF (XLK)

Market Price (6/25/2026): $188.0

Key Takeaways

Price Chart

Asset Allocation with XLK

Valuation & Yield

Top 20 Holdings for XLK

Performance for XLK Top Holdings

Guidance Updates for XLK Top Holdings

Return vs. Risk

Price Returns Compared

Sharpe Ratios Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

In The Past

Preserve Wealth

Asset Allocation

XLK Dip Buy History

Current Dip Buy Opportunities Across ETFs

ETF Fund Flows

Asset allocation rotation · Past week

Asset allocation rotation · Past month

Asset allocation rotation · Past 3 months

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Trade & Investment Ideas

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