Benchmark research · Technology Sector
ETFs and Stocks That Consistently Outperformed XLK (Technology Sector)
Any investment can look great over a single hand-picked timeframe. To find what truly kept ahead of XLK (State Street Technology Select Sector SPDR ETF), we screened XLK against the entire market of over 10,000 stocks and ETFs across 8 different time windows from 1 month to 10 years, including reinvested dividends. A contender had to come out ahead in both the short term and the long term to make the list. Data as of October 22, 2026.
Compare the entire market against XLK live →Key findings
- How hard it was to top XLK: Out of over 10,000 stocks and ETFs screened, just 2 of 957 eligible ETFs (0.2%) and 103 of 1,502 eligible stocks (6.9%) outperformed in at least 3 of 5 short-term periods and 2 of 3 long-term periods. None of the ETFs were all-weather, while 22 stocks were, meaning they outperformed in every long-term period and all but one short-term period.
- Who came out ahead across the three groups:
- Popular alternatives: SMH outperformed in 3 of 3 long-term periods but only 2 of 5 short-term periods, so it missed the consistency bar. AAPL led in the short term with 5 of 5 periods but outperformed in just 1 of 3 long-term periods. MSFT managed 3 of 5 short-term periods and 1 of 3 long-term periods, while VGT had 2 of 5 and 1 of 3, respectively. No same-index funds were excluded.
- Top ETFs: The two ETFs that qualified came from Technology and Broad Market categories. EWT outperformed in 4 of 5 short-term periods and 2 of 3 long-term periods, while IYW did so in 3 of 5 and 2 of 3.
- Top stocks: 103 stocks qualified, including 22 all-weather stocks. The top stocks shown include healthcare companies NTRA and HALO, technology companies FTNT and PANW, and industrials BWLP and FRO.
- The risk trade-off: Over 5 years, the top ETFs had median volatility of 25.5%, similar to XLK's 26.1%; 1 of 2 was less volatile and 1 of 2 had a higher Sharpe ratio. The top stocks were much more volatile, with median volatility of 44.6%, and 5 of 10 had higher Sharpe ratios than XLK. The riskier ride therefore came with better risk-adjusted returns for about half of the stocks.
How popular alternatives compare
Well-known funds and stocks investors often compare against XLK, sorted by long-term periods outperformed, then short-term.
| Investment | Periods outperformed | Short term | Long term | Risk · 5 years | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Volatilitylower is calmer | Sharpe ratiohigher is better | ||
| XLK State Street Technology Select Sector SPDR ETF (benchmark) | — | −7.1% | +1.3% | +15.6% | +26.8% | +28.4% | +126% | +139% | +741% | 26.1% | 0.80 |
| SMH Fell shortVanEck Semiconductor ETF | 2/5 short3/3 long | −13.8% | −10.8% | +9.8% | +40.2% | +55.0% | +272% | +304% | +1,570% | 37.0%1.4× XLK | 0.94 |
| AAPL Fell shortApple Inc. | 5/5 short1/3 long | +2.5% | +6.9% | +27.7% | +28.8% | +35.2% | +104% | +140% | +1,194% | 28.0%1.1× XLK | 0.77 |
| MSFT Fell shortMicrosoft Corporation | 3/5 short1/3 long | +4.6% | +33.7% | +20.9% | +10.9% | +0.9% | +61.9% | +75.6% | +862% | 28.2%1.1× XLK | 0.54 |
| VGT Fell shortVanguard Information Technology ETF | 2/5 short1/3 long | −6.1% | +2.7% | +15.4% | +25.9% | +26.7% | +135% | +130% | +753% | 26.1%1.0× XLK | 0.77 |
| FTEC Fell shortFidelity MSCI Information Technology Index ETF | 2/5 short1/3 long | −6.1% | +2.6% | +15.4% | +25.9% | +26.9% | +136% | +132% | +737% | 26.1%1.0× XLK | 0.78 |
| SKYY Fell shortFirst Trust Cloud Computing ETF | 4/5 short0/3 long | −1.8% | +23.4% | +34.6% | +28.6% | +22.2% | +124% | +44.2% | +392% | 31.4%1.2× XLK | 0.39 |
| IGV Fell shortiShares Expanded Tech-Software Sector ETF | 3/5 short0/3 long | +1.8% | +22.1% | +22.5% | +6.0% | −4.2% | +60.5% | +25.5% | +381% | 28.9%1.1× XLK | 0.30 |
| AMZN Fell shortAmazon.com, Inc. | 2/5 short0/3 long | −1.8% | +2.3% | −1.9% | +10.5% | +14.9% | +97.8% | +50.1% | +498% | 36.6%1.4× XLK | 0.41 |
| SPY Fell shortState Street SPDR S&P 500 ETF | 2/5 short0/3 long | −1.2% | +2.5% | +8.0% | +12.7% | +15.6% | +88.4% | +80.3% | +316% | 17.2%0.7× XLK | 0.78 |
| VTI Fell shortVanguard Morningstar Total Stock Market ETF | 2/5 short0/3 long | −1.4% | +1.9% | +7.3% | +12.4% | +15.3% | +87.3% | +71.5% | +298% | 17.5%0.7× XLK | 0.71 |
| QQQ Fell shortInvesco QQQ Trust, Series 1 | 1/5 short0/3 long | −5.8% | 0.0% | +7.8% | +15.3% | +16.9% | +101% | +94.0% | +531% | 23.0%0.9× XLK | 0.69 |
| QQEW Fell shortFirst Trust Nasdaq-100 Select Equal Weight ETF | 1/5 short0/3 long | −6.0% | +1.2% | +11.5% | +9.7% | +8.7% | +55.7% | +36.5% | +258% | 21.3%0.8× XLK | 0.40 |
| IWM Fell shortiShares Russell 2000 ETF | 1/5 short0/3 long | −3.7% | −5.6% | +0.6% | +12.0% | +14.8% | +73.3% | +29.4% | +157% | 22.4%0.9× XLK | 0.34 |
ETFs that consistently outperformed XLK
Top 2 by long-term periods outperformed, then short-term, then by 10Y return. Green cells outperformed XLK in that period. Excludes leveraged and inverse funds, ETFs under $100M in assets, stocks under $2.0B in market cap, and anything without 10 years of history.
| # | Investment | Periods outperformed | Short term | Long term | Risk · 5 years | Fund | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Volatilitylower is calmer | Sharpe ratiohigher is better | Expense | Assets | |||
| — | XLK State Street Technology Select Sector SPDR ETF (benchmark) | — | −7.1% | +1.3% | +15.6% | +26.8% | +28.4% | +126% | +139% | +741% | 26.1% | 0.80 | ||
| 1 | EWT TechnologyiShares MSCI Taiwan ETF | 4/5 short2/3 long | −9.7% | +2.3% | +20.7% | +60.6% | +67.3% | +187% | +147% | +448% | 24.3%0.9× XLK | 0.87 | 0.59% | $12B |
| 2 | IYW Broad MarketiShares U.S. Technology ETF | 3/5 short2/3 long | −6.4% | +2.4% | +16.3% | +24.7% | +26.1% | +138% | +135% | +773% | 26.7%1.0× XLK | 0.78 | 0.37% | $24B |
Stocks that consistently outperformed XLK
Top 10 by long-term periods outperformed, then short-term, then by 10Y return. Individual stocks swing far more than funds; check the volatility column.
| # | Investment | Periods outperformed | Short term | Long term | Risk · 5 years | Company | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Volatilitylower is calmer | Sharpe ratiohigher is better | Market cap | |||
| — | XLK State Street Technology Select Sector SPDR ETF (benchmark) | — | −7.1% | +1.3% | +15.6% | +26.8% | +28.4% | +126% | +139% | +741% | 26.1% | 0.80 | |
| 1 | NTRA Medical - Diagnostics & ResearchNatera, Inc. | 5/5 short3/3 longAll-weather | +2.7% | +51.9% | +93.2% | +75.4% | +113% | +901% | +249% | +3,934% | 57.6%2.2× XLK | 0.73 | $58B |
| 2 | FTNT Software - InfrastructureFortinet, Inc. | 5/5 short3/3 longAll-weather | −0.7% | +11.6% | +98.6% | +122% | +104% | +208% | +158% | +2,668% | 44.8%1.7× XLK | 0.65 | $127B |
| 3 | BWLP Marine ShippingBW LPG Limited | 5/5 short3/3 longAll-weather | +1.2% | +20.7% | +46.1% | +116% | +129% | +232% | +966% | +2,648% | 50.9%2.0× XLK | 1.19 | $3.8B |
| 4 | MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation | 5/5 short3/3 longAll-weather | +17.9% | +45.8% | +108% | +181% | +148% | +226% | +660% | +1,314% | 33.4%1.3× XLK | 1.39 | $129B |
| 5 | PANW Software - InfrastructurePalo Alto Networks, Inc. | 5/5 short3/3 longAll-weather | −5.2% | +5.9% | +95.9% | +97.9% | +67.1% | +188% | +322% | +1,306% | 43.4%1.7× XLK | 0.89 | $290B |
| 6 | WSM Specialty RetailWilliams-Sonoma, Inc. | 5/5 short3/3 longAll-weather | +12.4% | +17.7% | +33.1% | +40.7% | +40.7% | +249% | +202% | +1,298% | 44.4%1.7× XLK | 0.72 | $31B |
| 7 | FRO Marine ShippingFrontline Plc | 5/5 short3/3 longAll-weather | +6.9% | +41.8% | +62.0% | +182% | +148% | +222% | +762% | +1,270% | 49.7%1.9× XLK | 1.12 | $11B |
| 8 | HALO BiotechnologyHalozyme Therapeutics, Inc. | 5/5 short3/3 longAll-weather | +8.2% | +60.0% | +82.1% | +77.1% | +89.4% | +258% | +220% | +1,255% | 40.4%1.6× XLK | 0.78 | $14B |
| 9 | ANF Apparel - RetailAbercrombie & Fitch Co. | 5/5 short3/3 longAll-weather | +18.6% | +68.2% | +74.7% | +30.6% | +136% | +169% | +323% | +1,132% | 62.9%2.4× XLK | 0.77 | $6.9B |
| 10 | DHT Marine ShippingDHT Holdings, Inc. | 5/5 short3/3 longAll-weather | +12.8% | +41.9% | +50.2% | +133% | +126% | +207% | +443% | +1,094% | 39.0%1.5× XLK | 1.07 | $3.9B |
What stands out
The results show how selective it was to keep ahead of a technology-sector benchmark across both recent and longer periods. The ETF leaders were not limited to US technology: EWT, a Taiwan-focused fund, and IYW, a broad US technology fund, qualified. Among the popular comparisons, SMH held a long-term lead but did not sustain it across enough short-term periods. AAPL showed the reverse pattern, with a stronger short-term record but limited long-term outperformance.
The stock winners came from several sectors, including healthcare, technology, industrials, energy, and consumer discretionary, rather than one narrow theme. All 10 stocks shown had higher volatility than XLK over 5 years, while only 5 of 10 had a higher Sharpe ratio, a measure of return relative to risk. Some stocks therefore gained enough extra return to offset their bumpier ride, but that was not true across the group.
Methodology
- Short-term periods: 1M, 3M, 6M, YTD, 1Y. Long-term periods: 3Y, 5Y, 10Y. An investment outperformed a period when its total return, with dividends reinvested, was higher than XLK's. Returns within 0.5 points or 3% of XLK's (whichever is larger) count as a tie and are shown in gray.
- Consistent means outperforming in at least 3 of 5 short-term periods and 2 of 3 long-term periods, so a recent hot streak alone is not enough. All-weather means outperforming in every long-term period and all but one short-term period. Rankings use long-term periods outperformed, then short-term, then the 10Y return.
- Excludes leveraged and inverse funds, ETFs under $100M in assets, stocks under $2.0B in market cap, and anything without 10 years of history.
- Volatility is the annualized standard deviation of daily returns over 5 years. The Sharpe ratio is return above cash divided by volatility over the same period: higher means more return per unit of risk.
- Returns and risk figures are computed from daily adjusted prices and update with each market day. Past performance does not predict future results.