XLBP.L vs. ESIN.L

Last updated Jun 5, 2026

XLBP.L (Invesco US Materials Sector UCITS ETF) and ESIN.L (iShares MSCI Europe Industrials Sector UCITS ETF EUR Acc) are both Industrials Equities funds tracking the MSCI World/Materials NR USD, from Invesco and iShares respectively. Both are passively managed. Over the past 5 years, XLBP.L returned 6.07%/yr vs 13.02%/yr for ESIN.L. A 0.57 correlation means they provide meaningful diversification when combined. XLBP.L charges 0.14%/yr vs 0.18%/yr for ESIN.L.

Performance

XLBP.L vs. ESIN.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco US Materials Sector UCITS ETF (XLBP.L) and iShares MSCI Europe Industrials Sector UCITS ETF EUR Acc (ESIN.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

XLBP.L is traded in GBp, while ESIN.L is traded in GBP. To make them comparable, the ESIN.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, XLBP.L achieves a 12.87% return, which is significantly higher than ESIN.L's 7.95% return.

XLBP.L

• 1D: -0.19%
• 1M: 1.77%
• YTD: 12.87%
• 6M: 15.98%
• 1Y: 20.07%
• 3Y*: 8.27%
• 5Y*: 6.07%
• 10Y*: 10.67%

ESIN.L

• 1D: 0.70%
• 1M: 0.61%
• YTD: 7.95%
• 6M: 10.12%
• 1Y: 18.56%
• 3Y*: 19.65%
• 5Y*: 13.02%
• 10Y*: —

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

XLBP.L vs. ESIN.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
XLBP.L Invesco US Materials Sector UCITS ETF	12.87%	3.47%	0.77%	6.09%	-1.67%	9.93%
ESIN.L iShares MSCI Europe Industrials Sector UCITS ETF EUR Acc	7.95%	31.04%	9.74%	24.40%	-11.34%	9.01%

Correlation

The correlation between XLBP.L and ESIN.L is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (All Time) Calculated using the full available price history since May 26, 2021	0.57

Over the past year, the correlation between XLBP.L and ESIN.L has dropped to 0.36 - well below their long-term average of 0.57, suggesting their price drivers have been diverging.

XLBP.L vs. ESIN.L - Sectors Allocation Comparison

Sectors	XLBP.L	ESIN.L
Basic Materials	89.8%	0.3%
Consumer Cyclical	8.6%	1.1%
Industrials	1.6%	96.1%
Communication Services	-	2.2%
Consumer Defensive	-	0.4%
Energy	-	-
Financial Services	-	1.3%
Healthcare	-	-
Real Estate	-	-
Technology	-	0.3%
Utilities	-	-

Return for Risk

XLBP.L vs. ESIN.L — Risk / Return Rank

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

XLBP.L

XLBP.L Risk / Return Rank: 38
XLBP.L Sharpe Ratio Rank: 39
XLBP.L Sortino Ratio Rank: 38
XLBP.L Omega Ratio Rank: 36
XLBP.L Calmar Ratio Rank: 38
XLBP.L Martin Ratio Rank: 40

ESIN.L

ESIN.L Risk / Return Rank: 29
ESIN.L Sharpe Ratio Rank: 28
ESIN.L Sortino Ratio Rank: 29
ESIN.L Omega Ratio Rank: 29
ESIN.L Calmar Ratio Rank: 27
ESIN.L Martin Ratio Rank: 32

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.

XLBP.L vs. ESIN.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco US Materials Sector UCITS ETF (XLBP.L) and iShares MSCI Europe Industrials Sector UCITS ETF EUR Acc (ESIN.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.

	XLBP.L	ESIN.L	Difference
Sharpe ratio: Return per unit of total volatility	1.35	0.99	+0.36
Sortino ratio: Return per unit of downside risk	1.94	1.55	+0.39
Omega ratio: Gain probability vs. loss probability	1.23	1.19	+0.04
Calmar ratio: Return relative to maximum drawdown	1.86	1.31	+0.55
Martin ratio: Return relative to average drawdown	6.29	4.64	+1.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XLBP.L vs. ESIN.L - Sharpe Ratio Comparison

The current XLBP.L Sharpe Ratio is 1.35, which is higher than the ESIN.L Sharpe Ratio of 0.99. The chart below compares the historical Sharpe Ratios of XLBP.L and ESIN.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

	XLBP.L	ESIN.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.35	0.99	+0.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.37	0.71	-0.34
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.59	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.72	-0.15

Drawdowns

XLBP.L vs. ESIN.L - Drawdown Comparison

The maximum XLBP.L drawdown since its inception was -28.58%, which is greater than ESIN.L's maximum drawdown of -24.82%. Use the drawdown chart below to compare losses from any high point for XLBP.L and ESIN.L.

Drawdown Indicators

	XLBP.L	ESIN.L	Difference
Max Drawdown Largest peak-to-trough decline	-28.58%	-24.82%	-3.76%
Max Drawdown (1Y) Largest decline over 1 year	-10.74%	-14.11%	+3.37%
Max Drawdown (3Y) Largest decline over 3 years	-21.98%	-16.55%	-5.43%
Max Drawdown (5Y) Largest decline over 5 years	-21.98%	-24.82%	+2.84%
Max Drawdown (10Y) Largest decline over 10 years	-28.58%	—	—
Current Drawdown Current decline from peak	-3.23%	-3.57%	+0.34%
Average Drawdown Average peak-to-trough decline	-5.53%	-5.41%	-0.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.18%	3.99%	-0.81%

Volatility

XLBP.L vs. ESIN.L - Volatility Comparison

The current volatility for Invesco US Materials Sector UCITS ETF (XLBP.L) is 5.17%, while iShares MSCI Europe Industrials Sector UCITS ETF EUR Acc (ESIN.L) has a volatility of 6.24%. This indicates that XLBP.L experiences smaller price fluctuations and is considered to be less risky than ESIN.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XLBP.L	ESIN.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.17%	6.24%	-1.07%
Volatility (6M) Calculated over the trailing 6-month period	11.95%	15.70%	-3.75%
Volatility (1Y) Calculated over the trailing 1-year period	14.85%	18.73%	-3.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.38%	18.41%	-2.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.20%	18.36%	-0.16%

XLBP.L vs. ESIN.L - Expense Ratio Comparison

XLBP.L has a 0.14% expense ratio, which is lower than ESIN.L's 0.18% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

XLBP.L vs. ESIN.L - Dividend Comparison

Neither XLBP.L nor ESIN.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XLBP.L and ESIN.L in my portfolio?

XLBP.L and ESIN.L have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XLBP.L or ESIN.L?

On fees, XLBP.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, XLBP.L or ESIN.L?

XLBP.L is cheaper with a 0.14% expense ratio, compared with 0.18% for ESIN.L.

What is the main difference between XLBP.L and ESIN.L?

Both ETFs track MSCI World/Materials NR USD. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.14% for XLBP.L and 0.18% for ESIN.L.