GXLF.L vs. IUFS.L

Last updated Jun 5, 2026

GXLF.L (SPDR S&P US Financials Select Sector UCITS ETF) and IUFS.L (iShares S&P 500 Financials Sector UCITS ETF USD Acc) are both Financials Equities funds - GXLF.L tracks the MSCI World/Financials NR USD while IUFS.L tracks the S&P 500 Capped 35/20 Financials Index. Both are passively managed. Over the past 3 years, GXLF.L returned 15.45%/yr vs 15.54%/yr for IUFS.L. Their correlation of 0.93 suggests significant overlap in exposure. Both charge a 0.15% expense ratio.

Performance

GXLF.L vs. IUFS.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in SPDR S&P US Financials Select Sector UCITS ETF (GXLF.L) and iShares S&P 500 Financials Sector UCITS ETF USD Acc (IUFS.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

GXLF.L is traded in GBP, while IUFS.L is traded in USD. To make them comparable, the IUFS.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

The year-to-date returns for both investments are quite close, with GXLF.L having a -4.87% return and IUFS.L slightly higher at -4.67%.

GXLF.L

• 1D: 3.21%
• 1M: 2.06%
• YTD: -4.87%
• 6M: -2.66%
• 1Y: 4.61%
• 3Y*: 15.45%
• 5Y*: —
• 10Y*: —

IUFS.L

• 1D: 3.18%
• 1M: 2.14%
• YTD: -4.67%
• 6M: -2.72%
• 1Y: 4.53%
• 3Y*: 15.54%
• 5Y*: 9.11%
• 10Y*: 13.04%

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

GXLF.L vs. IUFS.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GXLF.L SPDR S&P US Financials Select Sector UCITS ETF	-4.87%	7.31%	32.20%	6.05%	-1.25%
IUFS.L iShares S&P 500 Financials Sector UCITS ETF USD Acc	-4.67%	6.85%	32.50%	6.52%	-1.88%

Correlation

The correlation between GXLF.L and IUFS.L is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (All Time) Calculated using the full available price history since Apr 6, 2022	0.93

The correlation between GXLF.L and IUFS.L has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

Return for Risk

GXLF.L vs. IUFS.L — Risk / Return Rank

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

GXLF.L

GXLF.L Risk / Return Rank: 13
GXLF.L Sharpe Ratio Rank: 14
GXLF.L Sortino Ratio Rank: 14
GXLF.L Omega Ratio Rank: 13
GXLF.L Calmar Ratio Rank: 13
GXLF.L Martin Ratio Rank: 13

IUFS.L

IUFS.L Risk / Return Rank: 12
IUFS.L Sharpe Ratio Rank: 13
IUFS.L Sortino Ratio Rank: 12
IUFS.L Omega Ratio Rank: 12
IUFS.L Calmar Ratio Rank: 12
IUFS.L Martin Ratio Rank: 12

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.

GXLF.L vs. IUFS.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P US Financials Select Sector UCITS ETF (GXLF.L) and iShares S&P 500 Financials Sector UCITS ETF USD Acc (IUFS.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.

	GXLF.L	IUFS.L	Difference
Sharpe ratio: Return per unit of total volatility	0.33	0.30	+0.03
Sortino ratio: Return per unit of downside risk	0.56	0.52	+0.04
Omega ratio: Gain probability vs. loss probability	1.07	1.06	0.00
Calmar ratio: Return relative to maximum drawdown	0.36	0.34	+0.02
Martin ratio: Return relative to average drawdown	0.84	0.82	+0.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GXLF.L vs. IUFS.L - Sharpe Ratio Comparison

The current GXLF.L Sharpe Ratio is 0.33, which is comparable to the IUFS.L Sharpe Ratio of 0.30. The chart below compares the historical Sharpe Ratios of GXLF.L and IUFS.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

	GXLF.L	IUFS.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.33	0.30	+0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.49	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.62	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.59	-0.08

Drawdowns

GXLF.L vs. IUFS.L - Drawdown Comparison

The maximum GXLF.L drawdown since its inception was -18.21%, smaller than the maximum IUFS.L drawdown of -35.96%. Use the drawdown chart below to compare losses from any high point for GXLF.L and IUFS.L.

Drawdown Indicators

	GXLF.L	IUFS.L	Difference
Max Drawdown Largest peak-to-trough decline	-18.21%	-35.96%	+17.75%
Max Drawdown (1Y) Largest decline over 1 year	-12.80%	-13.28%	+0.48%
Max Drawdown (3Y) Largest decline over 3 years	-18.21%	-18.90%	+0.69%
Max Drawdown (5Y) Largest decline over 5 years	—	-18.90%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.96%	—
Current Drawdown Current decline from peak	-6.67%	-6.64%	-0.03%
Average Drawdown Average peak-to-trough decline	-5.79%	-6.09%	+0.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.48%	5.52%	-0.04%

Volatility

GXLF.L vs. IUFS.L - Volatility Comparison

SPDR S&P US Financials Select Sector UCITS ETF (GXLF.L) and iShares S&P 500 Financials Sector UCITS ETF USD Acc (IUFS.L) have volatilities of 4.36% and 4.58%, 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

	GXLF.L	IUFS.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.36%	4.58%	-0.22%
Volatility (6M) Calculated over the trailing 6-month period	10.64%	11.57%	-0.93%
Volatility (1Y) Calculated over the trailing 1-year period	14.08%	15.11%	-1.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.99%	18.53%	-1.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.99%	20.96%	-3.97%

GXLF.L vs. IUFS.L - Expense Ratio Comparison

Both GXLF.L and IUFS.L have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

GXLF.L vs. IUFS.L - Dividend Comparison

Neither GXLF.L nor IUFS.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both GXLF.L and IUFS.L in my portfolio?

With a correlation of 0.95, GXLF.L and IUFS.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, GXLF.L or IUFS.L?

Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GXLF.L or IUFS.L?

GXLF.L and IUFS.L have the same expense ratio: 0.15% per year.

What is the main difference between GXLF.L and IUFS.L?

GXLF.L tracks MSCI World/Financials NR USD, while IUFS.L tracks S&P 500 Capped 35/20 Financials Index. They also come from different issuers: State Street and iShares.