FTEC vs XLK: Grades, Fees and Holdings Compared

Fidelity MSCI Information Technology Index ETF

FTECANYSE Arca

State Street Technology Select Sector SPDR ETF

XLKANYSE Arca

Overlap

83.7%by weight

Expense ratio

FTEC0.08%XLK0.08%

Avg volume · 30D

XLK 30.3×the volume

FTEC275KXLK8.32M

10Y return · a year

XLK +0.1pt

FTEC+24.4%XLK+24.5%

FTEC vs XLK Performance

Oct 28, 2021 – Oct 28, 2026

+138.4%FTEC+146.4%XLK

Expense ratio: FTEC 0.08%; XLK 0.08%
Fund size: FTEC $22.2B; XLK $123B
1Y total return: FTEC +25.0%; XLK +27.1%, better
Yield (12M): FTEC 0.38%; XLK 0.44%, better
Holdings: FTEC 292; XLK 77
Avg volume (30D): FTEC 275K sh; XLK 8.32M sh, better
NAV per share: FTEC $294.64; XLK $186.31
52W range

ETF.net Grade

Pillar letters and Scores for FTEC, XLK, with each pillar’s weight
Pillar	FTEC	XLK
Cost30% weight	A98	A98
Mission25% weight	Not scored	A76
Risk15% weight	B55	B56Higher
Tradability15% weight	A88	A98Higher
Holdings10% weight	D38	C41Higher
Durability5% weight	A73	A82Higher

Rank among Technology (Broad) funds

How we build Categories ›

Same Category. FTEC and XLK are both graded against the same 23 Technology (Broad) funds, so their Grades compare head to head.

Technology (Broad)⁠

Category · 23 funds

See all 23 ›

XLK ranks 1st and FTEC 2nd of 23 funds in the Technology (Broad) Category.

Rank 1AXLKState Street Technology Select Sector SPDR ETFScore 80
Rank 2AFTECFidelity MSCI Information Technology Index ETFScore 77
Rank 3AVGTVanguard Information Technology ETFScore 70

Our read on each fund

ETF.net Research

FTECAFidelity MSCI Information Technology Index ETF

XLKAState Street Technology Select Sector SPDR ETF

In short

FTEC Fidelity's tech sleeve runs 0.08% a year and holds about 300 names, tracking an MSCI index that reaches from mega-cap chipmakers down into small-cap software. Cheap beta on the whole US tech stack, not just the giants.

XLK A 1998 original: XLK owns the technology slice of the S&P 500, about 70 names, for eight basis points. Big, heavily traded, and top-heavy by design, with quarterly caps the only brake on the giants at the top.

Stated mandate

FTEC Seeks to track, before fees and expenses, the performance of the MSCI USA IMI Information Technology Index.

XLK The fund seeks to track the price and yield performance of the Technology Select Sector Index before expenses.

Why people hold it

FTEC At 0.08%, it ties the cheapest fund in its broad-tech group and undercuts VGT's 0.09%, against a cohort median of 0.40%. On a sector sleeve, that gap compounds quietly.
The MSCI USA IMI benchmark covers large, mid and small cap US tech, so the roughly 300 holdings stretch past the mega-cap tier alone.msci.com
Trading since 2013 and now a multi-billion-dollar fund, it sits in the top quartile of its broad technology peer group.

XLK Costs 0.08% a year against a roughly 0.40% median for broad tech funds, tying FTEC as the cheapest of the category's top-rated names and undercutting VGT's 0.09%.
One of the largest and most actively traded funds in the tech aisle, so entering or exiting rarely means fighting the order book.
Running since December 1998 and dead simple: the tech sector of the S&P 500, spanning software, semiconductors, hardware, communications equipment and IT services. Pays quarterly.ssga.com

Worth knowing

FTEC Membership follows GICS Information Technology, so several household-name tech businesses classified into other sectors never show up here.msci.com
One sector, one story: tech moves harder than the broad market in both directions, and roughly 300 names does not soften that.
Distributions arrive quarterly, and a growth-heavy sector index is not built around payouts.

XLK Top-heavy by construction. About 70 stocks, and the index only trims its biggest weights at quarterly rebalances to stay inside fund diversification limits.spglobal.com
The universe is S&P 500 tech only. Smaller tech companies outside the big index are out, and the Select Sector funds split the S&P 500 up, so some familiar names sit in other sector funds.ssga.com
It is one sector with no ballast from the rest of the market, so a tech drawdown lands here in full.

Full FTEC profile⁠

Full XLK profile⁠

FTEC vs XLK Holdings

Holdings as of Oct 29, 2026 for FTEC and Oct 27, 2026 for XLK

How FTEC and XLK differ

Overlap by weight

83.7%

Shared holdings make up 98.7% of XLK and 88.2% of FTEC.

Level by level

Holdings73 in both83.7%
Sector5 Sectors99.4%
Asset classEquity100%
Countryby domicile99.5%

Sector

Sector weights in FTEC and XLK, widest gap first
Sector	More in FTECMore in XLK	FTEC	XLK
Technology	XLK +0.5 points	99.4%	99.9%
Financials	FTEC +0.3 points	0.3%	0.0%
Industrials	FTEC +0.3 points	0.3%	0.0%
Energy	XLK +0.1 points	0.0%	0.1%
Consumer Discretionary	FTEC +0.1 points	0.1%	0.0%

Country, concentration and asset class

Country by domicile

Country weights in FTEC and XLK, widest gap first
Country	More in FTECMore in XLK	FTEC	XLK
United States	FTEC +0.2 points	98.5%	98.3%
Ireland	XLK +0.4 points	0.9%	1.3%
Netherlands	XLK +0.1 points	0.3%	0.4%
Cayman Islands	FTEC +0.2 points	0.2%	0.0%
Israel	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

FTEC63.9%
XLK64.7%

Securities held

FTEC291
XLK75

Asset class

FTEC: Equity
XLK: Equity

Holdings

Only in FTEC218
In both73
Only in XLK2

Only in FTEC

218 securities, 12.5% of FTEC by weight

Securities Lending Cf0.77%
Accenture PLC Class A0.58%
Snowflake Inc0.46%
Cloudflare Inc0.44%
Nxp Semiconductors NV0.28%
Okta Inc Class A0.21%
Astera Labs Inc0.19%
Atlassian Corp PLC Cls A0.19%
Strategy Inc Class A0.16%
Mongodb Inc Class A0.15%
Zscaler Inc0.15%
Rubrik Inc0.14%
Credo Technology Group Hol Ltd0.14%
Entegris Inc0.13%
Zoom Communications Inc Class A0.13%
State Street 60 Day Money Mark0.12%
Dynatrace Inc0.12%
Nutanix Inc Class A0.12%
Docusign Inc0.12%
Td Synnex Corp0.11%
Samsara Inc0.11%
Manhattan Associates Inc0.10%
Macom Technology Soln Hlds Inc0.10%
Semtech Corp0.10%
Guidewire Software Inc0.09%
Lattice Semiconductor Corp0.09%
Arrow Electronics Inc0.09%
Jfrog Ltd0.09%
Unity Software Inc0.09%
Gitlab Inc Class A0.09%
Mks Inc0.09%
Elastic NV0.08%
Qualys Inc0.08%
Sentinelone Inc0.08%
Commvault Systems Inc0.08%
Hubspot Inc0.08%
Tenable Holdings Inc0.08%
Ionq Inc0.08%
Ringcentral Inc Class A0.08%
Digitalocean Holdings Inc0.08%
Cognex Corp0.08%
Box Inc Class A0.08%
Epam Systems Inc0.08%
Littelfuse Inc0.08%
Sitime Corp0.07%
Zeta Global Holdings Corp0.07%
Avnet Inc0.07%
Interdigital Inc0.07%
Ralliant Corp0.07%
Rambus Inc0.07%

Only in XLK

2 securities, 1.3% of XLK by weight

Accenture PLC Class A0.90%
Nxp Semiconductors NV0.37%

Weight gaps

All 73 Holdings in both funds, largest gap first.

Holding weights in FTEC and XLK, widest gap first
Holding	More in FTECMore in XLK	FTEC	XLK
Apple IncAAPL	FTEC +2.27 points	17.00%	14.73%
NVIDIA CorpNVDA	FTEC +1.85 points	17.19%	15.34%
Advanced Micro Devices IncAMD	XLK +1.14 points	3.47%	4.61%
Intel CorpINTC	XLK +1.08 points	1.59%	2.67%
Palantir Technologies IncPLTR	XLK +1.03 points	1.69%	2.72%
Cisco Systems IncCSCO	XLK +0.88 points	1.70%	2.58%
Applied Materials IncAMAT	XLK +0.61 points	1.22%	1.83%
Palo Alto Networks IncPANW	XLK +0.60 points	1.29%	1.89%
Lam Research CorpLRCX	XLK +0.60 points	1.17%	1.77%
Crowdstrike Holdings IncCRWD	XLK +0.52 points	1.06%	1.58%
Intl Bus Mach CorpIBM	XLK +0.51 points	0.91%	1.42%
Texas Instruments IncTXN	XLK +0.51 points	1.11%	1.62%
Broadcom IncAVGO	XLK +0.49 points	4.11%	4.60%
Oracle CorpORCL	XLK +0.45 points	0.84%	1.29%
Salesforce IncCRM	XLK +0.43 points	0.78%	1.21%
Marvell Technology IncMRVL	XLK +0.39 points	0.83%	1.22%
Kla CorpKLAC	XLK +0.37 points	0.79%	1.16%
Qualcomm IncQCOM	XLK +0.36 points	0.78%	1.14%
Analog Devices IncADI	XLK +0.35 points	0.83%	1.18%
Servicenow IncNOW	XLK +0.34 points	0.63%	0.97%
Sandisk CorporationSNDK	XLK +0.34 points	0.75%	1.09%
Amphenol Corporation Class AAPH	XLK +0.33 points	0.77%	1.10%
Arista Networks IncANET	XLK +0.30 points	0.80%	1.10%
Seagate Techn Holdings PLCSTX	XLK +0.28 points	0.59%	0.87%
Microsoft CorpMSFT	FTEC +0.24 points	11.85%	11.61%
Western Digital CorpWDC	XLK +0.23 points	0.53%	0.76%
Dell Technologies Inc Class CDELL	XLK +0.22 points	0.62%	0.84%
Adobe IncADBE	XLK +0.20 points	0.41%	0.61%
Intuit IncINTU	XLK +0.19 points	0.36%	0.55%
Corning IncGLW	XLK +0.19 points	0.41%	0.60%
Fortinet IncFTNT	XLK +0.18 points	0.49%	0.67%
Datadog Inc Class ADDOG	XLK +0.18 points	0.38%	0.56%
Lumentum Holdings IncLITE	XLK +0.15 points	0.28%	0.43%
Synopsys IncSNPS	XLK +0.15 points	0.37%	0.52%
Qnity Electronics IncQ	XLK +0.14 points	<0.01%	0.14%
Cadence Design Systems IncCDNS	XLK +0.13 points	0.40%	0.53%
Motorola Solutions IncMSI	XLK +0.13 points	0.35%	0.48%
Hewlett Packard Enterprise CoHPE	XLK +0.11 points	0.35%	0.46%
Monolithic Power Sys IncMPWR	XLK +0.09 points	0.25%	0.34%
Coherent CorpCOHR	XLK +0.08 points	0.18%	0.26%
Autodesk IncADSK	XLK +0.08 points	0.23%	0.31%
Te Connectivity PLCTEL	XLK +0.07 points	0.30%	0.37%
Keysight Technologies IncKEYS	XLK +0.07 points	0.26%	0.33%
Ciena CorpCIEN	XLK +0.06 points	0.22%	0.28%
Teradyne IncTER	XLK +0.06 points	0.23%	0.29%
Skyworks Solutions IncSWKS	FTEC +0.05 points	0.16%	0.11%
Workday Inc Class AWDAY	XLK +0.05 points	0.20%	0.25%
Roper Technologies IncROP	XLK +0.05 points	0.21%	0.26%
Everpure Inc-AP	XLK +0.04 points	0.22%	0.26%
Netapp IncNTAP	XLK +0.04 points	0.22%	0.26%
Microchip TechnologyMCHP	XLK +0.03 points	0.20%	0.24%
Twilio Inc Class ATWLO	FTEC +0.03 points	0.19%	0.16%
Flex LtdFLEX	XLK +0.02 points	0.15%	0.17%
Jabil IncJBL	XLK +0.02 points	0.15%	0.17%
Hp IncHPQ	XLK +0.03 points	0.16%	0.19%
Cognizant Tech Solutions Class ACTSH	XLK +0.03 points	0.16%	0.19%
Teledyne Technologies IncTDY	XLK +0.02 points	0.16%	0.18%
On Semiconductor CorpON	XLK +0.02 points	0.15%	0.17%
Micron Technology IncMU	FTEC +0.02 points	3.99%	3.97%
Gartner IncIT	FTEC +0.01 points	0.10%	0.09%
Godaddy Inc Class AGDDY	FTEC +0.02 points	0.10%	0.08%
Ptc IncPTC	FTEC +0.01 points	0.14%	0.13%
Trimble IncTRMB	FTEC +0.01 points	0.10%	0.09%
Tyler Technologies IncTYL	FTEC +0.01 points	0.10%	0.09%
Verisign IncVRSN	XLK +0.01 points	0.14%	0.15%
Gen Digital IncGEN	FTEC +0.01 points	0.09%	0.08%
Cdw CorporationCDW	FTEC +0.01 points	0.13%	0.12%
Super Micro Computer IncSMCI	FTEC +0.01 points	0.12%	0.11%
Zebra Technologies Corp Class AZBRA	Same weight	0.11%	0.11%
Fair Isaac CorpFICO	XLK +0.01 points	0.08%	0.09%
F5 IncFFIV	XLK +0.01 points	0.15%	0.16%
First Solar IncFSLR	XLK +0.01 points	0.10%	0.11%
Akamai Technologies IncAKAM	FTEC +0.01 points	0.09%	0.08%

All 294 FTEC holdings⁠All 75 XLK holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

FTEC vs XLK Cost

Overpaying FTEC vs XLK

$84

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

FTEC 0.084%
$1,773
XLK 0.08%
$1,689

Amount$10,000

Years30 years

Cost over time

FTEC 0.084%
XLK 0.08%
Overpaying

Year by year

Year	FTEC	XLK	Overpaying
10	$154	$147	$7
20	$603	$575	$28
30	$1,773	$1,689	$84

Expense ratio

0.08%FTEC
0.08%XLK

XLK0.08%FTEC0.08%

0.08%1.00%

Middle half of Technology (Broad) funds
Median 0.45%

XLK cheapest of 23 funds

FTEC 2nd cheapest of 23 funds

FTEC vs XLK Dividends

Last 12 months to Oct 28, 2026

Yield (12M): FTEC 0.38%; XLK 0.44%, better
Payout (12M): FTEC $1.11; XLK $0.83
Last payment: FTEC $0.33; XLK $0.22
Ex-dividend: FTEC Sep 18, 2026; XLK Sep 21, 2026
Paid on: FTEC Sep 22, 2026; XLK Sep 23, 2026
Frequency: FTEC Quarterly; XLK Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

FTECQuarterly · 39 paymentsAll FTEC payments⁠

XLKQuarterly · 39 paymentsAll XLK payments⁠

FTEC vs XLK Risk

Fall from peak · 5 years

FTEC
XLK

Risk facts

VolatilityStd dev, 3 years: FTEC 21.7%, betterXLK 22.7%
Return per unit of riskSharpe ratio, 3 years: FTEC 1.31, betterXLK 1.23
Worst fallMax drawdown, 5 years: FTEC −35.0%XLK −33.6%, better
Market sensitivityBeta, 5 years: FTEC 1.35XLK 1.35; Market = 1

FTEC and XLK in the news

All news⁠

Category Review
Equal-weight technology beat the biggest tech funds this year
Updated Oct 26, 2026FTECXLK
Deep Dive
An equal-weight technology ETF beat the cap-weighted fund by 9.3 percentage points
Sep 28, 2026FTECXLK
Closing Bell
Fed holds rates, stocks rise a third day as long yields climb
18 hours agoXLK
Closing Bell
Boeing plummets 10.7%, but Chip stocks lift S&P 500 on Broadcom deal
Oct 27, 2026XLK
Closing Bell
Brazil ETF EWZ falls 19.8% as Lula win drives Ibovespa’s worst day since 2020
Oct 26, 2026XLK
The Big Picture
The 10-year yield fell to 5%, and it was not cooler inflation
Oct 24, 2026XLK

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