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XLCP.L vs. GRID
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XLCP.L vs. GRID

Last updated Jun 5, 2026

XLCP.L (Invesco Communications S&P US Select Sector UCITS ETF A) and GRID (First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund) are both exchange-traded funds - XLCP.L is a Communications Equities fund tracking the MSCI World/Comm Services NR USD, while GRID is a Alternative Energy Equities fund tracking the Nasdaq Clean Edge Smart Grid Infrastructure Index. Both are passively managed. Over the past 5 years, XLCP.L returned 9.26%/yr vs 19.10%/yr for GRID. At a 0.37 correlation, their price movements are largely independent. XLCP.L charges 0.14%/yr vs 0.70%/yr for GRID.

Performance

XLCP.L vs. GRID - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco Communications S&P US Select Sector UCITS ETF A (XLCP.L) and First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

XLCP.L is traded in GBp, while GRID is traded in USD. To make them comparable, the GRID values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, XLCP.L achieves a -1.61% return, which is significantly lower than GRID's 29.34% return.

XLCP.L

1D
1.54%
1M
-2.05%
YTD
-1.61%
6M
-2.31%
1Y
7.51%
3Y*
19.65%
5Y*
9.26%
10Y*
—

GRID

1D
-0.07%
1M
2.75%
YTD
29.34%
6M
27.51%
1Y
52.06%
3Y*
23.39%
5Y*
19.10%
10Y*
20.39%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XLCP.L vs. GRID - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
XLCP.L
Invesco Communications S&P US Select Sector UCITS ETF A		-1.61%11.11%40.05%43.94%-32.63%15.05%17.17%27.75%-8.58%
GRID
First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund		29.34%20.42%17.20%15.50%-3.65%28.86%44.47%37.37%-17.86%

Correlation

The correlation between XLCP.L and GRID is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.08

Correlation (3Y)
Calculated over the trailing 3-year period

0.21

Correlation (5Y)
Calculated over the trailing 5-year period

0.31

Correlation (All Time)
Calculated using the full available price history since Sep 18, 2018

0.37

Over the past year, the correlation between XLCP.L and GRID has dropped to 0.08 - well below their long-term average of 0.37, suggesting their price drivers have been diverging.

XLCP.L vs. GRID - Sectors Allocation Comparison

Sectors
XLCP.L
GRID

Communication Services

100.0%

-

Basic Materials

-

0.0%

Consumer Cyclical

-

3.5%

Consumer Defensive

-

-

Energy

-

-

Financial Services

-

-

Healthcare

-

-

Industrials

-

65.2%

Real Estate

-

-

Technology

-

11.0%

Utilities

-

20.4%

Communication Services

XLCP.L
100.0%
GRID

-

Basic Materials

XLCP.L

-

GRID
0.0%

Consumer Cyclical

XLCP.L

-

GRID
3.5%

Consumer Defensive

XLCP.L

-

GRID

-

Energy

XLCP.L

-

GRID

-

Financial Services

XLCP.L

-

GRID

-

Healthcare

XLCP.L

-

GRID

-

Industrials

XLCP.L

-

GRID
65.2%

Real Estate

XLCP.L

-

GRID

-

Technology

XLCP.L

-

GRID
11.0%

Utilities

XLCP.L

-

GRID
20.4%

Compare stocks, funds, or ETFs

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Invesco Communications S&P US Select Sector UCITS ETF A

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund

Often compared with XLCP.L:
XLCP.L vs. XLCXLCP.L vs. QQQXLCP.L vs. IITU.LXLCP.L vs. XLREXLCP.L vs. VUAG.LXLCP.L vs. RUSG.LXLCP.L vs. SCHG
Often compared with GRID:
GRID vs. ICLNGRID vs. NLRGRID vs. VOOGRID vs. FIWGRID vs. POWRGRID vs. VOLTGRID vs. QCLN

Return for Risk

XLCP.L vs. GRID — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XLCP.L
XLCP.L Risk / Return Rank: 1919
Overall Rank
XLCP.L Sharpe Ratio Rank: 1919
Sharpe Ratio Rank
XLCP.L Sortino Ratio Rank: 1818
Sortino Ratio Rank
XLCP.L Omega Ratio Rank: 1717
Omega Ratio Rank
XLCP.L Calmar Ratio Rank: 2121
Calmar Ratio Rank
XLCP.L Martin Ratio Rank: 2020
Martin Ratio Rank
GRID
GRID Risk / Return Rank: 8080
Overall Rank
GRID Sharpe Ratio Rank: 8282
Sharpe Ratio Rank
GRID Sortino Ratio Rank: 7878
Sortino Ratio Rank
GRID Omega Ratio Rank: 7676
Omega Ratio Rank
GRID Calmar Ratio Rank: 8383
Calmar Ratio Rank
GRID Martin Ratio Rank: 8282
Martin Ratio Rank
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.

XLCP.L vs. GRID - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Communications S&P US Select Sector UCITS ETF A (XLCP.L) and First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID). 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.

XLCP.LGRIDDifference
Sharpe ratioReturn per unit of total volatility
0.58
2.99

-2.40

Sortino ratioReturn per unit of downside risk
0.91
3.80

-2.89

Omega ratioGain probability vs. loss probability

1.10

1.51

-0.41

Calmar ratioReturn relative to maximum drawdown

0.93

5.42

-4.49

Martin ratioReturn relative to average drawdown

2.27

17.61

-15.34

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XLCP.L vs. GRID - Sharpe Ratio Comparison

The current XLCP.L Sharpe Ratio is 0.58, which is lower than the GRID Sharpe Ratio of 2.99. The chart below compares the historical Sharpe Ratios of XLCP.L and GRID, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

XLCP.LGRIDDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.58

2.99

-2.40

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.52

1.03

-0.50

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.95

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.63

0.67

-0.04

Drawdowns

XLCP.L vs. GRID - Drawdown Comparison

The maximum XLCP.L drawdown since its inception was -38.47%, which is greater than GRID's maximum drawdown of -34.09%. Use the drawdown chart below to compare losses from any high point for XLCP.L and GRID.

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Drawdown Indicators

XLCP.LGRIDDifference

Max Drawdown

Largest peak-to-trough decline

-38.47%

-34.09%

-4.38%

Max Drawdown (1Y)

Largest decline over 1 year

-8.07%

-9.65%

+1.58%

Max Drawdown (3Y)

Largest decline over 3 years

-18.92%

-22.93%

+4.01%

Max Drawdown (5Y)

Largest decline over 5 years

-38.47%

-22.93%

-15.54%

Max Drawdown (10Y)

Largest decline over 10 years

—

-34.09%

—

Current Drawdown

Current decline from peak

-5.41%

-0.29%

-5.12%

Average Drawdown

Average peak-to-trough decline

-8.48%

-6.98%

-1.50%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.31%

2.97%

+0.34%

Volatility

XLCP.L vs. GRID - Volatility Comparison

The current volatility for Invesco Communications S&P US Select Sector UCITS ETF A (XLCP.L) is 4.51%, while First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID) has a volatility of 7.12%. This indicates that XLCP.L experiences smaller price fluctuations and is considered to be less risky than GRID based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XLCP.LGRIDDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.51%

7.12%

-2.61%

Volatility (6M)

Calculated over the trailing 6-month period

9.75%

14.24%

-4.49%

Volatility (1Y)

Calculated over the trailing 1-year period

12.81%

17.51%

-4.70%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.68%

18.71%

-1.03%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.59%

21.48%

-2.89%

XLCP.L vs. GRID - Expense Ratio Comparison

XLCP.L has a 0.14% expense ratio, which is lower than GRID's 0.70% expense ratio.

Dividends

XLCP.L vs. GRID - Dividend Comparison

XLCP.L has not paid dividends to shareholders, while GRID's dividend yield for the trailing twelve months is around 0.77%.

PositionTTM20252024202320222021202020192018201720162015
GRID
First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund		0.77%1.01%1.06%1.23%1.26%0.63%0.68%1.26%1.28%1.07%1.07%1.23%
XLCP.L
Invesco Communications S&P US Select Sector UCITS ETF A		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

XLCP.L and GRID have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

XLCP.L is cheaper with a 0.14% expense ratio, compared with 0.70% for GRID.

XLCP.L is categorized as Communications Equities, while GRID is Alternative Energy Equities. XLCP.L tracks MSCI World/Comm Services NR USD, while GRID tracks Nasdaq Clean Edge Smart Grid Infrastructure Index. They also come from different issuers: Invesco and First Trust. Their fees differ too: 0.14% for XLCP.L and 0.70% for GRID.

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