TELE.L vs. IUCM.L

Last updated Jun 5, 2026

TELE.L (SPDR MSCI Europe Communication Services UCITS ETF) and IUCM.L (iShares S&P 500 Communication Sector UCITS ETF USD Acc) are both Communications Equities funds tracking the MSCI World/Comm Services NR USD, from State Street and iShares respectively. Both are passively managed. Over the past 5 years, TELE.L returned 5.40%/yr vs 12.43%/yr for IUCM.L. At a 0.28 correlation, their price movements are largely independent. TELE.L charges 0.18%/yr vs 0.15%/yr for IUCM.L.

Performance

TELE.L vs. IUCM.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in SPDR MSCI Europe Communication Services UCITS ETF (TELE.L) and iShares S&P 500 Communication Sector UCITS ETF USD Acc (IUCM.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

TELE.L is traded in EUR, while IUCM.L is traded in USD. To make them comparable, the IUCM.L values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, TELE.L achieves a 3.32% return, which is significantly higher than IUCM.L's 2.76% return.

TELE.L

• 1D: -0.08%
• 1M: 2.64%
• YTD: 3.32%
• 6M: 5.24%
• 1Y: -7.79%
• 3Y*: 10.22%
• 5Y*: 5.40%
• 10Y*: —

IUCM.L

• 1D: 1.37%
• 1M: -2.16%
• YTD: 2.76%
• 6M: 1.80%
• 1Y: 18.84%
• 3Y*: 23.72%
• 5Y*: 12.43%
• 10Y*: —

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

TELE.L vs. IUCM.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
TELE.L SPDR MSCI Europe Communication Services UCITS ETF	3.32%	7.03%	14.51%	15.08%	-11.02%	13.83%	-14.18%	6.44%	3.04%
IUCM.L iShares S&P 500 Communication Sector UCITS ETF USD Acc	2.76%	11.47%	48.15%	51.08%	-36.86%	31.51%	12.53%	33.79%	-9.35%

Correlation

The correlation between TELE.L and IUCM.L is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (5Y) Calculated over the trailing 5-year period	0.27
Correlation (All Time) Calculated using the full available price history since Sep 20, 2018	0.28

TELE.L vs. IUCM.L - Sectors Allocation Comparison

Sectors	TELE.L	IUCM.L
Communication Services	96.7%	99.1%
Real Estate	3.3%	-
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Technology	-	0.6%
Utilities	-	-

Return for Risk

TELE.L vs. IUCM.L — Risk / Return Rank

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

TELE.L

TELE.L Risk / Return Rank: 4
TELE.L Sharpe Ratio Rank: 4
TELE.L Sortino Ratio Rank: 4
TELE.L Omega Ratio Rank: 4
TELE.L Calmar Ratio Rank: 5
TELE.L Martin Ratio Rank: 5

IUCM.L

IUCM.L Risk / Return Rank: 44
IUCM.L Sharpe Ratio Rank: 42
IUCM.L Sortino Ratio Rank: 46
IUCM.L Omega Ratio Rank: 39
IUCM.L Calmar Ratio Rank: 44
IUCM.L Martin Ratio Rank: 48

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.

TELE.L vs. IUCM.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Europe Communication Services UCITS ETF (TELE.L) and iShares S&P 500 Communication Sector UCITS ETF USD Acc (IUCM.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.

	TELE.L	IUCM.L	Difference
Sharpe ratio: Return per unit of total volatility	-0.58	1.29	-1.88
Sortino ratio: Return per unit of downside risk	-0.75	1.93	-2.68
Omega ratio: Gain probability vs. loss probability	0.92	1.22	-0.30
Calmar ratio: Return relative to maximum drawdown	-0.52	2.36	-2.88
Martin ratio: Return relative to average drawdown	-0.96	8.02	-8.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TELE.L vs. IUCM.L - Sharpe Ratio Comparison

The current TELE.L Sharpe Ratio is -0.58, which is lower than the IUCM.L Sharpe Ratio of 1.29. The chart below compares the historical Sharpe Ratios of TELE.L and IUCM.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

	TELE.L	IUCM.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.58	1.29	-1.88
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	0.63	-0.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.17	0.72	-0.55

Drawdowns

TELE.L vs. IUCM.L - Drawdown Comparison

The maximum TELE.L drawdown since its inception was -35.72%, smaller than the maximum IUCM.L drawdown of -39.44%. Use the drawdown chart below to compare losses from any high point for TELE.L and IUCM.L.

Drawdown Indicators

	TELE.L	IUCM.L	Difference
Max Drawdown Largest peak-to-trough decline	-35.72%	-39.44%	+3.72%
Max Drawdown (1Y) Largest decline over 1 year	-14.98%	-7.96%	-7.02%
Max Drawdown (3Y) Largest decline over 3 years	-14.98%	-22.64%	+7.66%
Max Drawdown (5Y) Largest decline over 5 years	-19.73%	-39.44%	+19.71%
Current Drawdown Current decline from peak	-8.53%	-3.86%	-4.67%
Average Drawdown Average peak-to-trough decline	-11.55%	-8.60%	-2.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.70%	2.34%	+5.36%

Volatility

TELE.L vs. IUCM.L - Volatility Comparison

SPDR MSCI Europe Communication Services UCITS ETF (TELE.L) and iShares S&P 500 Communication Sector UCITS ETF USD Acc (IUCM.L) have volatilities of 4.27% and 4.23%, 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

	TELE.L	IUCM.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.27%	4.23%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	10.44%	10.33%	+0.11%
Volatility (1Y) Calculated over the trailing 1-year period	13.37%	14.51%	-1.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.57%	19.84%	-3.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.10%	20.49%	-1.39%

TELE.L vs. IUCM.L - Expense Ratio Comparison

TELE.L has a 0.18% expense ratio, which is higher than IUCM.L's 0.15% 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

TELE.L vs. IUCM.L - Dividend Comparison

Neither TELE.L nor IUCM.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both TELE.L and IUCM.L in my portfolio?

TELE.L and IUCM.L have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TELE.L or IUCM.L?

On fees, IUCM.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, TELE.L or IUCM.L?

IUCM.L is cheaper with a 0.15% expense ratio, compared with 0.18% for TELE.L.

What is the main difference between TELE.L and IUCM.L?

Both ETFs track MSCI World/Comm Services NR USD. They also come from different issuers: State Street and iShares. Their fees differ too: 0.18% for TELE.L and 0.15% for IUCM.L.