MUNS.L vs. XLKQ.L
MUNS.L (Invesco US Municipal Bond UCITS ETF Dist) and XLKQ.L (Invesco Technology S&P US Select Sector UCITS ETF GBP Acc) are both exchange-traded funds - MUNS.L is a Municipal Bonds fund tracking the ICE BofA US Taxable Municipal Securities Plus Index, 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, MUNS.L returned 0.63%/yr vs 26.60%/yr for XLKQ.L. At a correlation of -0.02, they often move in opposite directions. MUNS.L charges 0.28%/yr vs 0.14%/yr for XLKQ.L.
Performance
MUNS.L vs. XLKQ.L - Performance Comparison
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Returns By Period
In the year-to-date period, MUNS.L achieves a 0.63% return, which is significantly lower than XLKQ.L's 23.81% return.
MUNS.L
- 1D
- 0.25%
- 1M
- 1.64%
- YTD
- 0.63%
- 6M
- 0.20%
- 1Y
- 7.65%
- 3Y*
- 1.65%
- 5Y*
- 0.63%
- 10Y*
- —
XLKQ.L
- 1D
- -2.23%
- 1M
- 14.41%
- YTD
- 23.81%
- 6M
- 22.31%
- 1Y
- 54.52%
- 3Y*
- 33.18%
- 5Y*
- 26.60%
- 10Y*
- 27.22%
MUNS.L vs. XLKQ.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
MUNS.L Invesco US Municipal Bond UCITS ETF Dist | 0.63% | 0.16% | 3.14% | 1.84% | -8.82% | 4.83% |
XLKQ.L Invesco Technology S&P US Select Sector UCITS ETF GBP Acc | 23.81% | 15.76% | 44.03% | 51.84% | -20.58% | 30.23% |
Correlation
The correlation between MUNS.L and XLKQ.L is 0.03, 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 | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Feb 17, 2021 | -0.02 |
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Return for Risk
MUNS.L vs. XLKQ.L — Risk / Return Rank
MUNS.L
XLKQ.L
MUNS.L vs. XLKQ.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco US Municipal Bond UCITS ETF Dist (MUNS.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.
| MUNS.L | XLKQ.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.63 | ||
| Sortino ratioReturn per unit of downside risk | -1.77 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.46 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 1.46 | 3.24 | -1.78 |
| Martin ratioReturn relative to average drawdown | 3.53 | 8.42 | -4.89 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MUNS.L | XLKQ.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.20 | 2.83 | -1.63 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.06 | 1.21 | -1.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.33 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.02 | 1.33 | -1.30 |
Drawdowns
MUNS.L vs. XLKQ.L - Drawdown Comparison
The maximum MUNS.L drawdown since its inception was -16.46%, smaller than the maximum XLKQ.L drawdown of -28.74%. Use the drawdown chart below to compare losses from any high point for MUNS.L and XLKQ.L.
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Drawdown Indicators
| MUNS.L | XLKQ.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.46% | -28.74% | +12.28% |
Max Drawdown (1Y)Largest decline over 1 year | -5.21% | -16.76% | +11.55% |
Max Drawdown (3Y)Largest decline over 3 years | -9.35% | -28.74% | +19.39% |
Max Drawdown (5Y)Largest decline over 5 years | -16.46% | -28.74% | +12.28% |
Max Drawdown (10Y)Largest decline over 10 years | — | -28.74% | — |
Current DrawdownCurrent decline from peak | -7.09% | -2.84% | -4.25% |
Average DrawdownAverage peak-to-trough decline | -8.59% | -5.04% | -3.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.16% | 6.45% | -4.29% |
Volatility
MUNS.L vs. XLKQ.L - Volatility Comparison
The current volatility for Invesco US Municipal Bond UCITS ETF Dist (MUNS.L) is 1.99%, while Invesco Technology S&P US Select Sector UCITS ETF GBP Acc (XLKQ.L) has a volatility of 6.83%. This indicates that MUNS.L experiences smaller price fluctuations and is considered to be less risky than XLKQ.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MUNS.L | XLKQ.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.99% | 6.83% | -4.84% |
Volatility (6M)Calculated over the trailing 6-month period | 4.67% | 14.29% | -9.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.35% | 19.18% | -12.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.02% | 22.04% | -12.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.96% | 21.65% | -11.69% |
MUNS.L vs. XLKQ.L - Expense Ratio Comparison
MUNS.L has a 0.28% expense ratio, which is higher than XLKQ.L's 0.14% expense ratio.
Dividends
MUNS.L vs. XLKQ.L - Dividend Comparison
MUNS.L's dividend yield for the trailing twelve months is around 4.53%, while XLKQ.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
MUNS.L Invesco US Municipal Bond UCITS ETF Dist | 4.53% | 4.54% | 4.49% | 4.16% | 3.13% | 1.99% |
XLKQ.L Invesco Technology S&P US Select Sector UCITS ETF GBP Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MUNS.L and XLKQ.L have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XLKQ.L is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XLKQ.L is cheaper with a 0.14% expense ratio, compared with 0.28% for MUNS.L.
MUNS.L is categorized as Municipal Bonds, while XLKQ.L is Technology Equities. MUNS.L tracks ICE BofA US Taxable Municipal Securities Plus Index, while XLKQ.L tracks S&P Select Sector Capped 20% Technology Index. Their fees differ too: 0.28% for MUNS.L and 0.14% for XLKQ.L.
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