UTIL.L vs. XLU

Last updated Jun 13, 2026

UTIL.L (SPDR MSCI Europe Utilities UCITS ETF) and XLU (State Street Utilities Select Sector SPDR ETF) are both Utilities Equities funds from State Street - UTIL.L tracks the MSCI World/Utilities NR USD while XLU tracks the Utilities Select Sector Index. Both are passively managed. Over the past 10 years, UTIL.L returned 11.43%/yr vs 8.85%/yr for XLU. At a 0.32 correlation, their price movements are largely independent. UTIL.L charges 0.18%/yr vs 0.08%/yr for XLU.

Performance

UTIL.L vs. XLU - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in SPDR MSCI Europe Utilities UCITS ETF (UTIL.L) and State Street Utilities Select Sector SPDR ETF (XLU). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, UTIL.L achieves a 15.57% return, which is significantly higher than XLU's 6.66% return. Over the past 10 years, UTIL.L has outperformed XLU with an annualized return of 11.43%, while XLU has yielded a comparatively lower 8.85% annualized return.

UTIL.L

• 1D: 0.23%
• 1M: 0.64%
• YTD: 15.57%
• 6M: 18.50%
• 1Y: 28.14%
• 3Y*: 17.37%
• 5Y*: 12.16%
• 10Y*: 11.43%

XLU

• 1D: 1.17%
• 1M: 0.95%
• YTD: 6.66%
• 6M: 7.04%
• 1Y: 12.05%
• 3Y*: 11.18%
• 5Y*: 10.42%
• 10Y*: 8.85%

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

UTIL.L vs. XLU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UTIL.L SPDR MSCI Europe Utilities UCITS ETF	15.57%	33.98%	1.33%	13.09%	-6.77%	8.27%	11.82%	29.32%	3.36%	9.29%
XLU State Street Utilities Select Sector SPDR ETF	6.66%	2.26%	31.45%	-9.96%	7.73%	26.51%	-7.78%	28.78%	8.81%	-1.72%

Correlation

The correlation between UTIL.L and XLU is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (5Y) Calculated over the trailing 5-year period	0.31
Correlation (10Y) Calculated over the trailing 10-year period	0.32
Correlation (All Time) Calculated using the full available price history since Dec 9, 2014	0.32

UTIL.L vs. XLU - Sectors Allocation Comparison

Sectors	UTIL.L	XLU
Utilities	95.4%	100.0%
Industrials	4.6%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Technology	-	-

Return for Risk

UTIL.L vs. XLU — Risk / Return Rank

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

UTIL.L

UTIL.L Risk / Return Rank: 67
UTIL.L Sharpe Ratio Rank: 65
UTIL.L Sortino Ratio Rank: 59
UTIL.L Omega Ratio Rank: 64
UTIL.L Calmar Ratio Rank: 82
UTIL.L Martin Ratio Rank: 65

XLU

XLU Risk / Return Rank: 26
XLU Sharpe Ratio Rank: 26
XLU Sortino Ratio Rank: 24
XLU Omega Ratio Rank: 24
XLU Calmar Ratio Rank: 30
XLU Martin Ratio Rank: 24

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.

UTIL.L vs. XLU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Europe Utilities UCITS ETF (UTIL.L) and State Street Utilities Select Sector SPDR ETF (XLU). 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.

	UTIL.L	XLU	Difference
Sharpe ratio: Return per unit of total volatility	1.88	0.79	+1.10
Sortino ratio: Return per unit of downside risk	2.46	1.16	+1.30
Omega ratio: Gain probability vs. loss probability	1.34	1.15	+0.19
Calmar ratio: Return relative to maximum drawdown	3.84	1.29	+2.55
Martin ratio: Return relative to average drawdown	10.51	2.63	+7.89

UTIL.L vs. XLU - Sharpe Ratio Comparison

The current UTIL.L Sharpe Ratio is 1.88, which is higher than the XLU Sharpe Ratio of 0.79. The chart below compares the historical Sharpe Ratios of UTIL.L and XLU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

UTIL.L vs. XLU - Drawdown Comparison

The maximum UTIL.L drawdown since its inception was -34.59%, smaller than the maximum XLU drawdown of -38.13%. Use the drawdown chart below to compare losses from any high point for UTIL.L and XLU.

Drawdown Indicators

	UTIL.L	XLU	Difference
Max Drawdown Largest peak-to-trough decline	-34.59%	-38.13%	+3.54%
Max Drawdown (1Y) Largest decline over 1 year	-7.30%	-9.41%	+2.11%
Max Drawdown (3Y) Largest decline over 3 years	-13.48%	-15.27%	+1.79%
Max Drawdown (5Y) Largest decline over 5 years	-22.12%	-28.16%	+6.04%
Max Drawdown (10Y) Largest decline over 10 years	-34.59%	-35.68%	+1.09%
Current Drawdown Current decline from peak	-2.96%	-5.63%	+2.67%
Average Drawdown Average peak-to-trough decline	-6.01%	-9.85%	+3.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.67%	4.60%	-1.93%

Volatility

UTIL.L vs. XLU - Volatility Comparison

The current volatility for SPDR MSCI Europe Utilities UCITS ETF (UTIL.L) is 5.50%, while State Street Utilities Select Sector SPDR ETF (XLU) has a volatility of 5.82%. This indicates that UTIL.L experiences smaller price fluctuations and is considered to be less risky than XLU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UTIL.L	XLU	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.50%	5.82%	-0.32%
Volatility (6M) Calculated over the trailing 6-month period	12.98%	11.96%	+1.02%
Volatility (1Y) Calculated over the trailing 1-year period	14.87%	15.35%	-0.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.23%	17.67%	-1.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.65%	19.96%	-2.31%

UTIL.L vs. XLU - Expense Ratio Comparison

UTIL.L has a 0.18% expense ratio, which is higher than XLU's 0.08% 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

UTIL.L vs. XLU - Dividend Comparison

UTIL.L has not paid dividends to shareholders, while XLU's dividend yield for the trailing twelve months is around 2.67%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
UTIL.L SPDR MSCI Europe Utilities UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XLU State Street Utilities Select Sector SPDR ETF	2.67%	2.71%	2.96%	3.39%	2.92%	2.79%	3.14%	2.95%	3.33%	3.33%	3.41%	3.67%

Frequently Asked Questions

Can I hold both UTIL.L and XLU in my portfolio?

UTIL.L and XLU have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UTIL.L or XLU?

On fees, XLU is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UTIL.L or XLU?

XLU is cheaper with a 0.08% expense ratio, compared with 0.18% for UTIL.L.

What is the main difference between UTIL.L and XLU?

UTIL.L tracks MSCI World/Utilities NR USD, while XLU tracks Utilities Select Sector Index. Their fees differ too: 0.18% for UTIL.L and 0.08% for XLU.