UTIL.L vs. XLUS.L

Last updated Jun 5, 2026

UTIL.L (SPDR MSCI Europe Utilities UCITS ETF) and XLUS.L (Invesco Utilities S&P US Select Sector UCITS ETF Acc) are both Utilities Equities funds - UTIL.L tracks the MSCI World/Utilities NR USD while XLUS.L tracks the S&P® Select Sector Capped 20% Utilities Index. Both are passively managed. Over the past 10 years, UTIL.L returned 10.69%/yr vs 8.22%/yr for XLUS.L. At a 0.44 correlation, their price movements are largely independent. UTIL.L charges 0.18%/yr vs 0.14%/yr for XLUS.L.

Performance

UTIL.L vs. XLUS.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in SPDR MSCI Europe Utilities UCITS ETF (UTIL.L) and Invesco Utilities S&P US Select Sector UCITS ETF Acc (XLUS.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

UTIL.L is traded in EUR, while XLUS.L is traded in USD. To make them comparable, the XLUS.L 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 12.98% return, which is significantly higher than XLUS.L's 2.66% return. Over the past 10 years, UTIL.L has outperformed XLUS.L with an annualized return of 10.69%, while XLUS.L has yielded a comparatively lower 8.22% annualized return.

UTIL.L

• 1D: -0.22%
• 1M: -3.08%
• YTD: 12.98%
• 6M: 14.06%
• 1Y: 26.75%
• 3Y*: 16.59%
• 5Y*: 11.83%
• 10Y*: 10.69%

XLUS.L

• 1D: -2.30%
• 1M: -6.30%
• YTD: 2.66%
• 6M: 0.19%
• 1Y: 6.72%
• 3Y*: 9.63%
• 5Y*: 9.42%
• 10Y*: 8.22%

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

UTIL.L vs. XLUS.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UTIL.L SPDR MSCI Europe Utilities UCITS ETF	12.98%	33.98%	1.33%	13.09%	-6.77%	8.27%	11.82%	29.32%	3.35%	9.30%
XLUS.L Invesco Utilities S&P US Select Sector UCITS ETF Acc	2.66%	1.95%	30.59%	-10.51%	8.22%	27.33%	-9.50%	28.09%	7.74%	-2.79%

Correlation

The correlation between UTIL.L and XLUS.L is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.43
Correlation (5Y) Calculated over the trailing 5-year period	0.45
Correlation (10Y) Calculated over the trailing 10-year period	0.44
Correlation (All Time) Calculated using the full available price history since Dec 10, 2014	0.44

UTIL.L vs. XLUS.L - Sectors Allocation Comparison

Sectors	UTIL.L	XLUS.L
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. XLUS.L — 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: 57
UTIL.L Sharpe Ratio Rank: 53
UTIL.L Sortino Ratio Rank: 48
UTIL.L Omega Ratio Rank: 53
UTIL.L Calmar Ratio Rank: 74
UTIL.L Martin Ratio Rank: 58

XLUS.L

XLUS.L Risk / Return Rank: 19
XLUS.L Sharpe Ratio Rank: 19
XLUS.L Sortino Ratio Rank: 18
XLUS.L Omega Ratio Rank: 18
XLUS.L Calmar Ratio Rank: 22
XLUS.L Martin Ratio Rank: 19

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. XLUS.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Europe Utilities UCITS ETF (UTIL.L) and Invesco Utilities S&P US Select Sector UCITS ETF Acc (XLUS.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.

	UTIL.L	XLUS.L	Difference
Sharpe ratio: Return per unit of total volatility	1.80	0.44	+1.36
Sortino ratio: Return per unit of downside risk	2.35	0.70	+1.65
Omega ratio: Gain probability vs. loss probability	1.33	1.08	+0.24
Calmar ratio: Return relative to maximum drawdown	3.65	0.72	+2.93
Martin ratio: Return relative to average drawdown	10.27	1.48	+8.79
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UTIL.L vs. XLUS.L - Sharpe Ratio Comparison

The current UTIL.L Sharpe Ratio is 1.80, which is higher than the XLUS.L Sharpe Ratio of 0.44. The chart below compares the historical Sharpe Ratios of UTIL.L and XLUS.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

	UTIL.L	XLUS.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.80	0.44	+1.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	0.55	+0.18
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.61	0.44	+0.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.64	-0.14

Drawdowns

UTIL.L vs. XLUS.L - Drawdown Comparison

The maximum UTIL.L drawdown since its inception was -34.59%, roughly equal to the maximum XLUS.L drawdown of -35.92%. Use the drawdown chart below to compare losses from any high point for UTIL.L and XLUS.L.

Drawdown Indicators

	UTIL.L	XLUS.L	Difference
Max Drawdown Largest peak-to-trough decline	-34.59%	-35.92%	+1.33%
Max Drawdown (1Y) Largest decline over 1 year	-7.30%	-9.36%	+2.06%
Max Drawdown (3Y) Largest decline over 3 years	-13.48%	-15.82%	+2.34%
Max Drawdown (5Y) Largest decline over 5 years	-22.12%	-29.58%	+7.46%
Max Drawdown (10Y) Largest decline over 10 years	-34.59%	-35.92%	+1.33%
Current Drawdown Current decline from peak	-5.13%	-8.67%	+3.54%
Average Drawdown Average peak-to-trough decline	-5.98%	-8.02%	+2.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.60%	4.52%	-1.92%

Volatility

UTIL.L vs. XLUS.L - Volatility Comparison

SPDR MSCI Europe Utilities UCITS ETF (UTIL.L) has a higher volatility of 5.83% compared to Invesco Utilities S&P US Select Sector UCITS ETF Acc (XLUS.L) at 5.46%. This indicates that UTIL.L's price experiences larger fluctuations and is considered to be riskier than XLUS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UTIL.L	XLUS.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.83%	5.46%	+0.37%
Volatility (6M) Calculated over the trailing 6-month period	12.89%	12.25%	+0.64%
Volatility (1Y) Calculated over the trailing 1-year period	14.80%	15.35%	-0.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.22%	17.27%	-1.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.71%	18.55%	-0.84%

UTIL.L vs. XLUS.L - Expense Ratio Comparison

UTIL.L has a 0.18% expense ratio, which is higher than XLUS.L's 0.14% 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. XLUS.L - Dividend Comparison

Neither UTIL.L nor XLUS.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

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

UTIL.L and XLUS.L have a correlation of 0.45, 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 XLUS.L?

On fees, XLUS.L is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UTIL.L or XLUS.L?

XLUS.L is cheaper with a 0.14% expense ratio, compared with 0.18% for UTIL.L.

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

UTIL.L tracks MSCI World/Utilities NR USD, while XLUS.L tracks S&P® Select Sector Capped 20% Utilities Index. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.18% for UTIL.L and 0.14% for XLUS.L.