XLBP.L vs. SXLI.L

Last updated Apr 2, 2026

Compare and contrast key facts about Invesco US Materials Sector UCITS ETF (XLBP.L) and SPDR S&P US Industrials Select Sector UCITS ETF (SXLI.L).

XLBP.L and SXLI.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XLBP.L is a passively managed fund by Invesco that tracks the performance of the MSCI World/Materials NR USD. It was launched on Dec 16, 2009. SXLI.L is a passively managed fund by State Street that tracks the performance of the MSCI World/Materials NR USD. It was launched on Jul 7, 2015. Both XLBP.L and SXLI.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

XLBP.L vs. SXLI.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 SPDR S&P US Industrials Select Sector UCITS ETF (SXLI.L). The values are adjusted to include any dividend payments, if applicable.

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XLBP.L Invesco US Materials Sector UCITS ETF	11.67%	3.47%	0.77%	6.09%	-1.67%	28.80%	15.99%	19.70%	-9.97%	12.17%
SXLI.L SPDR S&P US Industrials Select Sector UCITS ETF	7.60%	10.72%	19.47%	12.05%	5.93%	21.83%	6.89%	23.71%	-8.91%	12.81%

Different Trading Currencies

XLBP.L is traded in GBp, while SXLI.L is traded in USD. To make them comparable, the SXLI.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 11.67% return, which is significantly higher than SXLI.L's 7.60% return. Over the past 10 years, XLBP.L has underperformed SXLI.L with an annualized return of 11.15%, while SXLI.L has yielded a comparatively higher 14.00% annualized return.

XLBP.L

• 1D: 1.32%
• 1M: -4.26%
• YTD: 11.67%
• 6M: 14.87%
• 1Y: 16.03%
• 3Y*: 7.06%
• 5Y*: 7.60%
• 10Y*: 11.15%

SXLI.L

• 1D: 3.27%
• 1M: -5.75%
• YTD: 7.60%
• 6M: 9.48%
• 1Y: 23.57%
• 3Y*: 16.42%
• 5Y*: 13.23%
• 10Y*: 14.00%

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

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

XLBP.L has a 0.14% expense ratio, which is lower than SXLI.L's 0.15% 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%.

SXLI.L

SPDR S&P US Industrials Select Sector UCITS ETF

XLBP.L

Invesco US Materials Sector UCITS ETF

Return for Risk

XLBP.L vs. SXLI.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: 47
XLBP.L Sharpe Ratio Rank: 48
XLBP.L Sortino Ratio Rank: 45
XLBP.L Omega Ratio Rank: 42
XLBP.L Calmar Ratio Rank: 49
XLBP.L Martin Ratio Rank: 49

SXLI.L

SXLI.L Risk / Return Rank: 79
SXLI.L Sharpe Ratio Rank: 78
SXLI.L Sortino Ratio Rank: 79
SXLI.L Omega Ratio Rank: 76
SXLI.L Calmar Ratio Rank: 79
SXLI.L Martin Ratio Rank: 81

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. SXLI.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 SPDR S&P US Industrials Select Sector UCITS ETF (SXLI.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	SXLI.L	Difference
Sharpe ratio Return per unit of total volatility	0.94	1.36	-0.42
Sortino ratio Return per unit of downside risk	1.34	1.90	-0.55
Omega ratio Gain probability vs. loss probability	1.18	1.25	-0.07
Calmar ratio Return relative to maximum drawdown	1.47	2.61	-1.14
Martin ratio Return relative to average drawdown	5.41	8.72	-3.31
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. SXLI.L - Sharpe Ratio Comparison

The current XLBP.L Sharpe Ratio is 0.94, which is lower than the SXLI.L Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of XLBP.L and SXLI.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	XLBP.L	SXLI.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.94	1.36	-0.42
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.46	0.79	-0.32
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.61	0.74	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	0.74	-0.18

Correlation

The correlation between XLBP.L and SXLI.L is 0.75, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

XLBP.L vs. SXLI.L - Dividend Comparison

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

Tickers have no history of dividend payments

Drawdowns

XLBP.L vs. SXLI.L - Drawdown Comparison

The maximum XLBP.L drawdown since its inception was -28.58%, smaller than the maximum SXLI.L drawdown of -35.05%. Use the drawdown chart below to compare losses from any high point for XLBP.L and SXLI.L.

Drawdown Indicators

	XLBP.L	SXLI.L	Difference
Max Drawdown Largest peak-to-trough decline	-28.58%	-42.17%	+13.59%
Max Drawdown (1Y) Largest decline over 1 year	-12.34%	-13.14%	+0.80%
Max Drawdown (5Y) Largest decline over 5 years	-21.98%	-21.24%	-0.74%
Max Drawdown (10Y) Largest decline over 10 years	-28.58%	-42.17%	+13.59%
Current Drawdown Current decline from peak	-4.26%	-6.80%	+2.54%
Average Drawdown Average peak-to-trough decline	-5.55%	-4.76%	-0.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.92%	2.60%	+0.32%

Volatility

XLBP.L vs. SXLI.L - Volatility Comparison

Invesco US Materials Sector UCITS ETF (XLBP.L) has a higher volatility of 6.84% compared to SPDR S&P US Industrials Select Sector UCITS ETF (SXLI.L) at 6.51%. This indicates that XLBP.L's price experiences larger fluctuations and is considered to be riskier than SXLI.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XLBP.L	SXLI.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.84%	6.51%	+0.33%
Volatility (6M) Calculated over the trailing 6-month period	11.67%	10.32%	+1.35%
Volatility (1Y) Calculated over the trailing 1-year period	17.08%	17.35%	-0.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.37%	16.78%	-0.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.19%	18.96%	-0.77%