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 (XSW) is a technology sector fund managed by State Street Investment Management with $402 million in assets under management. Trading at $180.12 per share, the fund carries an expense ratio of 0.35% and offers a dividend yield of 0.01%. Across all tracked categories, this ETF holds an overall rank of #446 out of 458 funds and has received an ETFValuer grade of F with a score of 31.1 out of 100. Within the Technology category specifically, it is one of 17 funds monitored by the platform. The relatively low asset size and low dividend yield suggest limited income generation and potentially lower investor adoption compared to larger peers. The fund's position near the bottom of the overall rankings reflects its current standing among the broader universe of tracked ETFs.

Recent performance data shows a sharp short-term rebound with a 1-day return of +2.10% and a 1-week gain of +0.88%. This momentum accelerated significantly over the last month, delivering a 1-month return of +12.81%, followed by a 3-month return of +18.99%. However, the 6-month return of +0.08% indicates a near-flat trajectory over the intermediate term, while year-to-date performance sits at -1.98%. The 1-year return stands at -6.81%, contrasting with a strong 3-year return of +27.17%. This pattern suggests a recent recovery in short-term gains that has not yet fully offset the negative returns seen over the past year or the slight decline year-to-date.

The fund is classified with a Very High volatility label and exhibits a beta of 1.37, indicating it tends to move more aggressively than the broader market. A Sharpe ratio of -0.39 suggests that the risk-adjusted returns have been negative over the measured period. The maximum drawdown of -33.75% highlights the potential for significant capital erosion during market downturns. This combination of high beta and deep drawdowns implies the fund experiences amplified swings in both rising and falling markets. The negative Sharpe ratio further confirms that the recent volatility has not been adequately compensated by positive returns relative to the risk taken.

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

XSW Top Holdings

Holdings as of 2026-03-31 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 16.7% 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 — SPDW overlaps most, holding 1 of the same companies as XSW's top 10 (9.0% 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: 4.65% (as of 2026-07-27) — 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): 18.67 (as of 2026-07-27) — 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: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

XSW Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 5.49% and average daily volume is 63K/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $402M 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