MKUW.L vs. XLKS.L
MKUW.L (Invesco Markets PLC - Invesco MSCI Kuwait UCITS ETF USD Acc) and XLKS.L (Invesco Technology S&P US Select Sector UCITS ETF Acc) are both Technology Equities funds from Invesco - MKUW.L tracks the Invesco Markets PLC - Invesco MSCI Kuwait UCITS ETF USD Acc while XLKS.L tracks the S&P® Select Sector Capped 20% Technology Index. Both are passively managed. Over the past 5 years, MKUW.L returned 7.35%/yr vs 22.18%/yr for XLKS.L. At a 0.21 correlation, their price movements are largely independent. MKUW.L charges 0.50%/yr vs 0.14%/yr for XLKS.L.
Performance
MKUW.L vs. XLKS.L - Performance Comparison
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Returns By Period
In the year-to-date period, MKUW.L achieves a 0.89% return, which is significantly lower than XLKS.L's 17.68% return.
MKUW.L
- 1D
- 1.09%
- 1M
- -1.83%
- 6M
- 1.55%
- YTD
- 0.89%
- 1Y
- 4.11%
- 3Y*
- 8.26%
- 5Y*
- 7.35%
- 10Y*
- —
XLKS.L
- 1D
- -0.94%
- 1M
- -2.87%
- 6M
- 20.28%
- YTD
- 17.68%
- 1Y
- 32.56%
- 3Y*
- 31.32%
- 5Y*
- 22.18%
- 10Y*
- 25.36%
MKUW.L vs. XLKS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
MKUW.L Invesco Markets PLC - Invesco MSCI Kuwait UCITS ETF USD Acc | 0.89% | 25.35% | 9.15% | -8.87% | 5.99% | 28.57% | -9.88% | 10.35% |
XLKS.L Invesco Technology S&P US Select Sector UCITS ETF Acc | 17.68% | 24.23% | 41.72% | 60.64% | -29.12% | 34.73% | 42.78% | 12.02% |
Correlation
The correlation between MKUW.L and XLKS.L is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Oct 25, 2019 | 0.21 |
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Return for Risk
MKUW.L vs. XLKS.L — Risk / Return Rank
MKUW.L
XLKS.L
MKUW.L vs. XLKS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Markets PLC - Invesco MSCI Kuwait UCITS ETF USD Acc (MKUW.L) and Invesco Technology S&P US Select Sector UCITS ETF Acc (XLKS.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.
| MKUW.L | XLKS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.97 | ||
| Sortino ratioReturn per unit of downside risk | -1.28 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.25 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 0.70 | 1.91 | -1.20 |
| Martin ratioReturn relative to average drawdown | 1.63 | 5.17 | -3.55 |
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Drawdowns
MKUW.L vs. XLKS.L - Drawdown Comparison
The maximum MKUW.L drawdown since its inception was -37.76%, which is greater than XLKS.L's maximum drawdown of -34.26%. Use the drawdown chart below to compare losses from any high point for MKUW.L and XLKS.L.
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Drawdown Indicators
| MKUW.L | XLKS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.76% | -34.26% | -3.50% |
Max Drawdown (1Y)Largest decline over 1 year | -7.47% | -16.99% | +9.52% |
Max Drawdown (3Y)Largest decline over 3 years | -14.16% | -26.97% | +12.81% |
Max Drawdown (5Y)Largest decline over 5 years | -25.13% | -34.26% | +9.13% |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.26% | — |
Current DrawdownCurrent decline from peak | -2.89% | -7.74% | +4.85% |
Average DrawdownAverage peak-to-trough decline | -9.42% | -5.14% | -4.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.24% | 6.28% | -3.04% |
Volatility
MKUW.L vs. XLKS.L - Volatility Comparison
The current volatility for Invesco Markets PLC - Invesco MSCI Kuwait UCITS ETF USD Acc (MKUW.L) is 2.12%, while Invesco Technology S&P US Select Sector UCITS ETF Acc (XLKS.L) has a volatility of 7.31%. This indicates that MKUW.L experiences smaller price fluctuations and is considered to be less risky than XLKS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MKUW.L | XLKS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.12% | 7.31% | -5.19% |
Volatility (6M)Calculated over the trailing 6-month period | 8.09% | 17.62% | -9.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.37% | 22.00% | -11.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.77% | 24.13% | -11.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.50% | 22.18% | -5.68% |
MKUW.L vs. XLKS.L - Expense Ratio Comparison
MKUW.L has a 0.50% expense ratio, which is higher than XLKS.L's 0.14% expense ratio.
Dividends
MKUW.L vs. XLKS.L - Dividend Comparison
Neither MKUW.L nor XLKS.L has paid dividends to shareholders.
Frequently Asked Questions
MKUW.L and XLKS.L have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XLKS.L is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XLKS.L is cheaper with a 0.14% expense ratio, compared with 0.50% for MKUW.L.
MKUW.L tracks Invesco Markets PLC - Invesco MSCI Kuwait UCITS ETF USD Acc, while XLKS.L tracks S&P® Select Sector Capped 20% Technology Index. Their fees differ too: 0.50% for MKUW.L and 0.14% for XLKS.L.
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