SXLI.L vs. WNDU.L

Last updated Jun 5, 2026

SXLI.L (SPDR S&P US Industrials Select Sector UCITS ETF) and WNDU.L (SPDR MSCI World Industrials UCITS ETF) are both Industrials Equities funds from State Street tracking the MSCI World/Materials NR USD. Both are passively managed. Over the past 10 years, SXLI.L returned 13.67%/yr vs 12.33%/yr for WNDU.L. Their correlation of 0.92 suggests significant overlap in exposure. SXLI.L charges 0.15%/yr vs 0.30%/yr for WNDU.L.

Performance

SXLI.L vs. WNDU.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P US Industrials Select Sector UCITS ETF (SXLI.L) and SPDR MSCI World Industrials UCITS ETF (WNDU.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SXLI.L achieves a 12.58% return, which is significantly higher than WNDU.L's 11.60% return. Over the past 10 years, SXLI.L has outperformed WNDU.L with an annualized return of 13.67%, while WNDU.L has yielded a comparatively lower 12.33% annualized return.

SXLI.L

• 1D: -0.09%
• 1M: 1.82%
• YTD: 12.58%
• 6M: 13.76%
• 1Y: 23.16%
• 3Y*: 21.91%
• 5Y*: 12.21%
• 10Y*: 13.67%

WNDU.L

• 1D: 0.27%
• 1M: 0.54%
• YTD: 11.60%
• 6M: 12.72%
• 1Y: 21.80%
• 3Y*: 21.53%
• 5Y*: 11.43%
• 10Y*: 12.33%

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

SXLI.L vs. WNDU.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SXLI.L SPDR S&P US Industrials Select Sector UCITS ETF	12.58%	19.21%	17.42%	17.94%	-5.33%	20.69%	10.13%	28.61%	-14.01%	23.49%
WNDU.L SPDR MSCI World Industrials UCITS ETF	11.60%	24.98%	13.42%	22.92%	-12.69%	16.14%	11.74%	27.43%	-14.96%	25.36%

Correlation

The correlation between SXLI.L and WNDU.L is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since May 5, 2016	0.92

The correlation between SXLI.L and WNDU.L has been stable across timeframes, ranging from 0.92 to 0.93 - a consistent structural relationship.

SXLI.L vs. WNDU.L - Sectors Allocation Comparison

Sectors	SXLI.L	WNDU.L
Industrials	93.7%	95.1%
Technology	6.0%	3.5%
Utilities	5.4%	2.8%
Consumer Cyclical	0.3%	0.3%
Basic Materials	0.2%	0.1%
Communication Services	-	0.6%
Consumer Defensive	-	0.1%
Energy	-	0.1%
Financial Services	-	0.3%
Healthcare	-	-
Real Estate	-	0.0%

Return for Risk

SXLI.L vs. WNDU.L — Risk / Return Rank

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

SXLI.L

SXLI.L Risk / Return Rank: 47
SXLI.L Sharpe Ratio Rank: 46
SXLI.L Sortino Ratio Rank: 50
SXLI.L Omega Ratio Rank: 44
SXLI.L Calmar Ratio Rank: 45
SXLI.L Martin Ratio Rank: 51

WNDU.L

WNDU.L Risk / Return Rank: 41
WNDU.L Sharpe Ratio Rank: 39
WNDU.L Sortino Ratio Rank: 42
WNDU.L Omega Ratio Rank: 40
WNDU.L Calmar Ratio Rank: 39
WNDU.L Martin Ratio Rank: 45

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.

SXLI.L vs. WNDU.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P US Industrials Select Sector UCITS ETF (SXLI.L) and SPDR MSCI World Industrials UCITS ETF (WNDU.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.

	SXLI.L	WNDU.L	Difference
Sharpe ratio: Return per unit of total volatility	1.58	1.36	+0.22
Sortino ratio: Return per unit of downside risk	2.41	2.10	+0.31
Omega ratio: Gain probability vs. loss probability	1.28	1.25	+0.03
Calmar ratio: Return relative to maximum drawdown	2.21	1.87	+0.34
Martin ratio: Return relative to average drawdown	8.52	7.31	+1.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SXLI.L vs. WNDU.L - Sharpe Ratio Comparison

The current SXLI.L Sharpe Ratio is 1.58, which is comparable to the WNDU.L Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of SXLI.L and WNDU.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

	SXLI.L	WNDU.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.58	1.36	+0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	0.67	+0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.72	0.70	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.69	0.71	-0.02

Drawdowns

SXLI.L vs. WNDU.L - Drawdown Comparison

The maximum SXLI.L drawdown since its inception was -42.17%, which is greater than WNDU.L's maximum drawdown of -38.99%. Use the drawdown chart below to compare losses from any high point for SXLI.L and WNDU.L.

Drawdown Indicators

	SXLI.L	WNDU.L	Difference
Max Drawdown Largest peak-to-trough decline	-42.17%	-38.99%	-3.18%
Max Drawdown (1Y) Largest decline over 1 year	-10.44%	-11.62%	+1.18%
Max Drawdown (3Y) Largest decline over 3 years	-19.44%	-15.33%	-4.11%
Max Drawdown (5Y) Largest decline over 5 years	-21.24%	-27.15%	+5.91%
Max Drawdown (10Y) Largest decline over 10 years	-42.17%	-38.99%	-3.18%
Current Drawdown Current decline from peak	-0.88%	-2.09%	+1.21%
Average Drawdown Average peak-to-trough decline	-4.73%	-5.35%	+0.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.71%	2.97%	-0.26%

Volatility

SXLI.L vs. WNDU.L - Volatility Comparison

The current volatility for SPDR S&P US Industrials Select Sector UCITS ETF (SXLI.L) is 5.08%, while SPDR MSCI World Industrials UCITS ETF (WNDU.L) has a volatility of 5.55%. This indicates that SXLI.L experiences smaller price fluctuations and is considered to be less risky than WNDU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SXLI.L	WNDU.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.08%	5.55%	-0.47%
Volatility (6M) Calculated over the trailing 6-month period	11.78%	13.35%	-1.57%
Volatility (1Y) Calculated over the trailing 1-year period	14.60%	15.92%	-1.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.28%	17.03%	+0.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.10%	17.79%	+1.31%

SXLI.L vs. WNDU.L - Expense Ratio Comparison

SXLI.L has a 0.15% expense ratio, which is lower than WNDU.L's 0.30% expense ratio.

Dividends

SXLI.L vs. WNDU.L - Dividend Comparison

Neither SXLI.L nor WNDU.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SXLI.L and WNDU.L in my portfolio?

With a correlation of 0.92, SXLI.L and WNDU.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, SXLI.L or WNDU.L?

On fees, SXLI.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SXLI.L or WNDU.L?

SXLI.L is cheaper with a 0.15% expense ratio, compared with 0.30% for WNDU.L.

What is the main difference between SXLI.L and WNDU.L?

Both ETFs track MSCI World/Materials NR USD. Their fees differ too: 0.15% for SXLI.L and 0.30% for WNDU.L.