EYED.L vs. XLEP.L

Last updated Jun 5, 2026

EYED.L (iShares MSCI Europe Energy Sector UCITS ETF EUR (Dist)) and XLEP.L (Invesco US Energy Sector UCITS ETF) are both Energy Equities funds tracking the MSCI World/Energy NR USD, from iShares and Invesco respectively. Both are passively managed. Over the past 3 years, EYED.L returned 17.65%/yr vs 14.05%/yr for XLEP.L. A 0.74 correlation means they provide meaningful diversification when combined. EYED.L charges 0.18%/yr vs 0.14%/yr for XLEP.L.

Performance

EYED.L vs. XLEP.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares MSCI Europe Energy Sector UCITS ETF EUR (Dist) (EYED.L) and Invesco US Energy Sector UCITS ETF (XLEP.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

EYED.L is traded in GBP, while XLEP.L is traded in GBp. To make them comparable, the XLEP.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, EYED.L achieves a 34.28% return, which is significantly higher than XLEP.L's 31.41% return.

EYED.L

• 1D: -1.18%
• 1M: -2.75%
• YTD: 34.28%
• 6M: 30.34%
• 1Y: 58.34%
• 3Y*: 17.65%
• 5Y*: —
• 10Y*: —

XLEP.L

• 1D: -0.21%
• 1M: -0.08%
• YTD: 31.41%
• 6M: 28.36%
• 1Y: 47.38%
• 3Y*: 14.05%
• 5Y*: 21.30%
• 10Y*: 10.15%

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

EYED.L vs. XLEP.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
EYED.L iShares MSCI Europe Energy Sector UCITS ETF EUR (Dist)	34.28%	20.20%	-10.02%	5.93%	5.36%
XLEP.L Invesco US Energy Sector UCITS ETF	31.41%	1.41%	4.85%	-5.07%	-3.95%

Correlation

The correlation between EYED.L and XLEP.L is 0.73, 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	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (All Time) Calculated using the full available price history since Oct 10, 2022	0.74

The correlation between EYED.L and XLEP.L has been stable across timeframes, ranging from 0.72 to 0.74 - a consistent structural relationship.

EYED.L vs. XLEP.L - Sectors Allocation Comparison

Sectors	EYED.L	XLEP.L
Energy	99.2%	100.0%
Communication Services	0.8%	-
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

EYED.L vs. XLEP.L — Risk / Return Rank

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

EYED.L

EYED.L Risk / Return Rank: 78
EYED.L Sharpe Ratio Rank: 81
EYED.L Sortino Ratio Rank: 69
EYED.L Omega Ratio Rank: 77
EYED.L Calmar Ratio Rank: 86
EYED.L Martin Ratio Rank: 77

XLEP.L

XLEP.L Risk / Return Rank: 57
XLEP.L Sharpe Ratio Rank: 61
XLEP.L Sortino Ratio Rank: 52
XLEP.L Omega Ratio Rank: 58
XLEP.L Calmar Ratio Rank: 60
XLEP.L Martin Ratio Rank: 54

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.

EYED.L vs. XLEP.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Europe Energy Sector UCITS ETF EUR (Dist) (EYED.L) and Invesco US Energy Sector UCITS ETF (XLEP.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.

	EYED.L	XLEP.L	Difference
Sharpe ratio: Return per unit of total volatility	2.60	2.02	+0.58
Sortino ratio: Return per unit of downside risk	3.09	2.49	+0.60
Omega ratio: Gain probability vs. loss probability	1.45	1.35	+0.10
Calmar ratio: Return relative to maximum drawdown	4.79	2.92	+1.87
Martin ratio: Return relative to average drawdown	14.52	9.27	+5.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EYED.L vs. XLEP.L - Sharpe Ratio Comparison

The current EYED.L Sharpe Ratio is 2.60, which is comparable to the XLEP.L Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of EYED.L and XLEP.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.

Sharpe Ratios by Period

	EYED.L	XLEP.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.60	2.02	+0.58
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.81	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.36	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.67	0.25	+0.43

Drawdowns

EYED.L vs. XLEP.L - Drawdown Comparison

The maximum EYED.L drawdown since its inception was -25.34%, smaller than the maximum XLEP.L drawdown of -63.35%. Use the drawdown chart below to compare losses from any high point for EYED.L and XLEP.L.

Drawdown Indicators

	EYED.L	XLEP.L	Difference
Max Drawdown Largest peak-to-trough decline	-25.34%	-63.35%	+38.01%
Max Drawdown (1Y) Largest decline over 1 year	-12.12%	-16.17%	+4.05%
Max Drawdown (3Y) Largest decline over 3 years	-25.34%	-24.06%	-1.28%
Max Drawdown (5Y) Largest decline over 5 years	—	-24.16%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-63.35%	—
Current Drawdown Current decline from peak	-7.53%	-8.08%	+0.55%
Average Drawdown Average peak-to-trough decline	-8.26%	-16.96%	+8.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.01%	5.10%	-1.09%

Volatility

EYED.L vs. XLEP.L - Volatility Comparison

The current volatility for iShares MSCI Europe Energy Sector UCITS ETF EUR (Dist) (EYED.L) is 8.43%, while Invesco US Energy Sector UCITS ETF (XLEP.L) has a volatility of 8.92%. This indicates that EYED.L experiences smaller price fluctuations and is considered to be less risky than XLEP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EYED.L	XLEP.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.43%	8.92%	-0.49%
Volatility (6M) Calculated over the trailing 6-month period	18.97%	19.87%	-0.90%
Volatility (1Y) Calculated over the trailing 1-year period	22.35%	23.44%	-1.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.02%	26.28%	-5.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.02%	28.14%	-7.12%

EYED.L vs. XLEP.L - Expense Ratio Comparison

EYED.L has a 0.18% expense ratio, which is higher than XLEP.L's 0.14% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

EYED.L vs. XLEP.L - Dividend Comparison

EYED.L's dividend yield for the trailing twelve months is around 3.87%, while XLEP.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
EYED.L iShares MSCI Europe Energy Sector UCITS ETF EUR (Dist)	3.87%	5.09%	5.79%	5.09%
XLEP.L Invesco US Energy Sector UCITS ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EYED.L and XLEP.L in my portfolio?

EYED.L and XLEP.L have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EYED.L or XLEP.L?

On fees, XLEP.L is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EYED.L or XLEP.L?

XLEP.L is cheaper with a 0.14% expense ratio, compared with 0.18% for EYED.L.

What is the main difference between EYED.L and XLEP.L?

Both ETFs track MSCI World/Energy NR USD. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.18% for EYED.L and 0.14% for XLEP.L.