XSW — State Street SPDR S&P Software & Services ETF

XSW Price Performance — Growth of $10,000

Value of a $10,000 investment in XSW over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

XSW Drawdown

The "underwater" chart: XSW's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The State Street SPDR S&P Software & Services ETF is a technology-focused fund issued by State Street Investment Management with $473 million in assets. It carries a D grade and ranks 16th out of 17 peers in its category, placing it near the bottom of the 458 tracked ETFs overall. Its 0.35% expense ratio is slightly below the category median of 0.37%, though it offers no dividend yield compared to the median 0.19%. The fund’s top ten holdings represent only 18.8% of assets, with the largest single position held by State Street Global Advisors at 9.9%.

Price action shows the ETF trading at 99.0% of its 52-week range, reflecting strong recent momentum with a 6-month return of 42.31%. This short-term acceleration contrasts with its 1-year return of 9.59%, which lags the category median of 29.02%. The fund has maintained a grade D unchanged across the last 35 tracked days, indicating stable but poor qualitative metrics. Historical data is limited to 3.0 years, restricting the depth of long-term trend analysis.

With a beta of 1.40 and annualized volatility of 31.30%, the fund exhibits Very High sensitivity to market movements and price fluctuations. A maximum drawdown of -33.75% underscores significant downside risk during recent market stress periods. The Sharpe ratio of 0.15 suggests that risk-adjusted returns have been minimal relative to the volatility endured. Liquidity remains low, with an average daily volume of just 54,521 shares, potentially impacting execution efficiency.

AI-generated summary based on the data on this page.

XSW Top Holdings

Holdings as of 2026-06-30 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 18.8% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how XSW's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With XSW

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with XSW's top 10 — BUG overlaps most, holding 2 of the same companies as XSW's top 10 (2.0% of XSW's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 4.96% (as of 2026-10-22) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 19.03 (as of 2026-10-22) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.75% (as of 2026-09-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

XSW Liquidity, Domicile & Tax Treatment

Liquidity: Average daily volume is 55K/day. Higher volume and a larger fund generally mean lower round-trip trading costs. AUM of $473M provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: XSW is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

XSW Performance History

How XSW Compares to Other Technology ETFs