CLO.L vs. MKUW.L
CLO.L (Global X Cloud Computing UCITS ETF USD Acc) and MKUW.L (Invesco Markets PLC - Invesco MSCI Kuwait UCITS ETF USD Acc) are both Technology Equities funds - CLO.L tracks the Indxx Global Cloud Computing Index while MKUW.L tracks the Invesco Markets PLC - Invesco MSCI Kuwait UCITS ETF USD Acc. Both are passively managed. Over the past 3 years, CLO.L returned 5.16%/yr vs 8.26%/yr for MKUW.L. At a 0.21 correlation, their price movements are largely independent. CLO.L charges 0.55%/yr vs 0.50%/yr for MKUW.L.
Performance
CLO.L vs. MKUW.L - Performance Comparison
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Returns By Period
In the year-to-date period, CLO.L achieves a 6.24% return, which is significantly higher than MKUW.L's 0.89% return.
CLO.L
- 1D
- -0.25%
- 1M
- 3.75%
- 6M
- 9.87%
- YTD
- 6.24%
- 1Y
- 5.12%
- 3Y*
- 5.16%
- 5Y*
- —
- 10Y*
- —
MKUW.L
- 1D
- 1.09%
- 1M
- -1.83%
- 6M
- 1.55%
- YTD
- 0.89%
- 1Y
- 4.11%
- 3Y*
- 8.26%
- 5Y*
- 7.35%
- 10Y*
- —
CLO.L vs. MKUW.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
CLO.L Global X Cloud Computing UCITS ETF USD Acc | 6.24% | -6.11% | 5.66% | 44.70% | -40.70% | -13.65% |
MKUW.L Invesco Markets PLC - Invesco MSCI Kuwait UCITS ETF USD Acc | 0.89% | 25.35% | 9.15% | -8.87% | 5.99% | -1.98% |
Correlation
The correlation between CLO.L and MKUW.L is 0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Nov 2, 2021 | 0.21 |
The correlation between CLO.L and MKUW.L shifts across timeframes, from 0.10 (1 year) to 0.21 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CLO.L vs. MKUW.L — Risk / Return Rank
CLO.L
MKUW.L
CLO.L vs. MKUW.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Cloud Computing UCITS ETF USD Acc (CLO.L) and Invesco Markets PLC - Invesco MSCI Kuwait UCITS ETF USD Acc (MKUW.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CLO.L | MKUW.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.34 | ||
| Sortino ratioReturn per unit of downside risk | -0.36 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.10 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.19 | 0.70 | -0.51 |
| Martin ratioReturn relative to average drawdown | 0.43 | 1.63 | -1.19 |
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Drawdowns
CLO.L vs. MKUW.L - Drawdown Comparison
The maximum CLO.L drawdown since its inception was -53.57%, which is greater than MKUW.L's maximum drawdown of -37.76%. Use the drawdown chart below to compare losses from any high point for CLO.L and MKUW.L.
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Drawdown Indicators
| CLO.L | MKUW.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.57% | -37.76% | -15.81% |
Max Drawdown (1Y)Largest decline over 1 year | -26.63% | -7.47% | -19.16% |
Max Drawdown (3Y)Largest decline over 3 years | -32.15% | -14.16% | -17.99% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.13% | — |
Current DrawdownCurrent decline from peak | -23.40% | -2.89% | -20.51% |
Average DrawdownAverage peak-to-trough decline | -34.25% | -9.42% | -24.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.85% | 3.24% | +8.61% |
Volatility
CLO.L vs. MKUW.L - Volatility Comparison
Global X Cloud Computing UCITS ETF USD Acc (CLO.L) has a higher volatility of 9.21% compared to Invesco Markets PLC - Invesco MSCI Kuwait UCITS ETF USD Acc (MKUW.L) at 2.12%. This indicates that CLO.L's price experiences larger fluctuations and is considered to be riskier than MKUW.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CLO.L | MKUW.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.21% | 2.12% | +7.09% |
Volatility (6M)Calculated over the trailing 6-month period | 26.95% | 8.09% | +18.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.49% | 10.37% | +20.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.41% | 12.77% | +17.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.41% | 16.50% | +13.91% |
CLO.L vs. MKUW.L - Expense Ratio Comparison
CLO.L has a 0.55% expense ratio, which is higher than MKUW.L's 0.50% expense ratio.
Dividends
CLO.L vs. MKUW.L - Dividend Comparison
Neither CLO.L nor MKUW.L has paid dividends to shareholders.
Frequently Asked Questions
CLO.L and MKUW.L have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, MKUW.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MKUW.L is cheaper with a 0.50% expense ratio, compared with 0.55% for CLO.L.
CLO.L tracks Indxx Global Cloud Computing Index, while MKUW.L tracks Invesco Markets PLC - Invesco MSCI Kuwait UCITS ETF USD Acc. They also come from different issuers: Global X and Invesco. Their fees differ too: 0.55% for CLO.L and 0.50% for MKUW.L.
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