ESES.L vs. XLKQ.L

Last updated Jul 16, 2026

ESES.L (Invesco MSCI Emerging Markets Universal Screened UCITS ETF) and XLKQ.L (Invesco Technology S&P US Select Sector UCITS ETF GBP Acc) are both exchange-traded funds - ESES.L is a Emerging Markets Equities fund tracking the Invesco MSCI Emerging Markets Universal Screened UCITS ETF, while XLKQ.L is a Technology Equities fund tracking the S&P Select Sector Capped 20% Technology Index. Both are passively managed. Over the past 5 years, ESES.L returned 7.51%/yr vs 22.68%/yr for XLKQ.L. A 0.52 correlation means they provide meaningful diversification when combined.

Performance

ESES.L vs. XLKQ.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco MSCI Emerging Markets Universal Screened UCITS ETF (ESES.L) and Invesco Technology S&P US Select Sector UCITS ETF GBP Acc (XLKQ.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ESES.L achieves a 22.99% return, which is significantly higher than XLKQ.L's 17.29% return.

ESES.L

• 1D: -0.75%
• 1M: -5.75%
• 6M: 17.36%
• YTD: 22.99%
• 1Y: 39.41%
• 3Y*: 18.98%
• 5Y*: 7.51%
• 10Y*: —

XLKQ.L

• 1D: -1.59%
• 1M: -3.44%
• 6M: 19.70%
• YTD: 17.29%
• 1Y: 31.37%
• 3Y*: 30.04%
• 5Y*: 22.68%
• 10Y*: 25.10%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ESES.L vs. XLKQ.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ESES.L Invesco MSCI Emerging Markets Universal Screened UCITS ETF	22.99%	24.05%	7.54%	2.94%	-11.14%	6,848.44%
XLKQ.L Invesco Technology S&P US Select Sector UCITS ETF GBP Acc	17.29%	15.76%	44.03%	51.84%	-20.58%	18.39%

Correlation

The correlation between ESES.L and XLKQ.L is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (5Y) Calculated over the trailing 5-year period	0.52
Correlation (All Time) Calculated using the full available price history since Jul 7, 2021	0.52

The correlation between ESES.L and XLKQ.L shifts across timeframes, from 0.52 (all time) to 0.64 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

ESES.L vs. XLKQ.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ESES.L

ESES.L Risk / Return Rank: 80
ESES.L Sharpe Ratio Rank: 81
ESES.L Sortino Ratio Rank: 77
ESES.L Omega Ratio Rank: 81
ESES.L Calmar Ratio Rank: 84
ESES.L Martin Ratio Rank: 77

XLKQ.L

XLKQ.L Risk / Return Rank: 47
XLKQ.L Sharpe Ratio Rank: 53
XLKQ.L Sortino Ratio Rank: 51
XLKQ.L Omega Ratio Rank: 48
XLKQ.L Calmar Ratio Rank: 45
XLKQ.L Martin Ratio Rank: 37

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ESES.L vs. XLKQ.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI Emerging Markets Universal Screened UCITS ETF (ESES.L) and Invesco Technology S&P US Select Sector UCITS ETF GBP Acc (XLKQ.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.

	ESES.L	XLKQ.L	Difference
Sharpe ratio: Return per unit of total volatility	2.06	1.48	+0.58
Sortino ratio: Return per unit of downside risk	2.76	2.03	+0.72
Omega ratio: Gain probability vs. loss probability	1.38	1.25	+0.13
Calmar ratio: Return relative to maximum drawdown	3.64	1.86	+1.77
Martin ratio: Return relative to average drawdown	11.46	4.56	+6.90

ESES.L vs. XLKQ.L - Sharpe Ratio Comparison

The current ESES.L Sharpe Ratio is 2.06, which is higher than the XLKQ.L Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of ESES.L and XLKQ.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ESES.L vs. XLKQ.L - Drawdown Comparison

The maximum ESES.L drawdown since its inception was -23.59%, smaller than the maximum XLKQ.L drawdown of -38.43%. Use the drawdown chart below to compare losses from any high point for ESES.L and XLKQ.L.

Drawdown Indicators

	ESES.L	XLKQ.L	Difference
Max Drawdown Largest peak-to-trough decline	-23.59%	-38.43%	+14.84%
Max Drawdown (1Y) Largest decline over 1 year	-10.79%	-16.76%	+5.97%
Max Drawdown (3Y) Largest decline over 3 years	-23.59%	-28.74%	+5.15%
Max Drawdown (5Y) Largest decline over 5 years	-23.59%	-28.74%	+5.15%
Max Drawdown (10Y) Largest decline over 10 years	—	-28.74%	—
Current Drawdown Current decline from peak	-7.86%	-7.95%	+0.09%
Average Drawdown Average peak-to-trough decline	-10.52%	-8.06%	-2.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.43%	6.87%	-3.44%

Volatility

ESES.L vs. XLKQ.L - Volatility Comparison

Invesco MSCI Emerging Markets Universal Screened UCITS ETF (ESES.L) and Invesco Technology S&P US Select Sector UCITS ETF GBP Acc (XLKQ.L) have volatilities of 7.50% and 7.47%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ESES.L	XLKQ.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.50%	7.47%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	17.04%	16.46%	+0.58%
Volatility (1Y) Calculated over the trailing 1-year period	19.04%	21.19%	-2.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.66%	26.43%	-4.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3,197.93%	23.45%	+3,174.48%

Dividends

ESES.L vs. XLKQ.L - Dividend Comparison

Neither ESES.L nor XLKQ.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ESES.L and XLKQ.L in my portfolio?

ESES.L and XLKQ.L have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between ESES.L and XLKQ.L?

ESES.L is categorized as Emerging Markets Equities, while XLKQ.L is Technology Equities. ESES.L tracks Invesco MSCI Emerging Markets Universal Screened UCITS ETF, while XLKQ.L tracks S&P Select Sector Capped 20% Technology Index.