XLCP.L vs. IBIT
XLCP.L (Invesco Communications S&P US Select Sector UCITS ETF A) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - XLCP.L is a Communications Equities fund tracking the MSCI World/Comm Services NR USD, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, XLCP.L returned 7.51% vs -39.02% for IBIT. At a 0.13 correlation, their price movements are largely independent. XLCP.L charges 0.14%/yr vs 0.25%/yr for IBIT.
Performance
XLCP.L vs. IBIT - Performance Comparison
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Different Trading Currencies
XLCP.L is traded in GBp, while IBIT is traded in USD. To make them comparable, the IBIT 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 higher than IBIT's -27.16% 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*
- —
IBIT
- 1D
- -2.65%
- 1M
- -21.46%
- YTD
- -27.16%
- 6M
- -31.88%
- 1Y
- -39.02%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XLCP.L vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
XLCP.L Invesco Communications S&P US Select Sector UCITS ETF A | -1.61% | 11.11% | 39.47% |
IBIT iShares Bitcoin Trust ETF | -27.16% | -13.08% | 103.19% |
Correlation
The correlation between XLCP.L and IBIT is 0.07, 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 | 0.07 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 2024 | 0.13 |
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Return for Risk
XLCP.L vs. IBIT — Risk / Return Rank
XLCP.L
IBIT
XLCP.L vs. IBIT - 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 iShares Bitcoin Trust ETF (IBIT). 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.L | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.50 | ||
| Sortino ratioReturn per unit of downside risk | +2.20 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 0.86 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 0.93 | -0.79 | +1.72 |
| Martin ratioReturn relative to average drawdown | 2.27 | -1.38 | +3.64 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XLCP.L | IBIT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.58 | -0.92 | +1.50 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.52 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.63 | 0.23 | +0.40 |
Drawdowns
XLCP.L vs. IBIT - Drawdown Comparison
The maximum XLCP.L drawdown since its inception was -38.47%, smaller than the maximum IBIT drawdown of -49.55%. Use the drawdown chart below to compare losses from any high point for XLCP.L and IBIT.
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Drawdown Indicators
| XLCP.L | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.47% | -49.55% | +11.08% |
Max Drawdown (1Y)Largest decline over 1 year | -8.07% | -49.55% | +41.48% |
Max Drawdown (3Y)Largest decline over 3 years | -18.92% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -38.47% | — | — |
Current DrawdownCurrent decline from peak | -5.41% | -49.24% | +43.83% |
Average DrawdownAverage peak-to-trough decline | -8.48% | -16.63% | +8.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.31% | 28.39% | -25.08% |
Volatility
XLCP.L vs. IBIT - Volatility Comparison
The current volatility for Invesco Communications S&P US Select Sector UCITS ETF A (XLCP.L) is 4.51%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 9.53%. This indicates that XLCP.L experiences smaller price fluctuations and is considered to be less risky than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XLCP.L | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.51% | 9.53% | -5.02% |
Volatility (6M)Calculated over the trailing 6-month period | 9.75% | 32.89% | -23.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.81% | 42.73% | -29.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.68% | 49.56% | -31.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.59% | 49.56% | -30.97% |
XLCP.L vs. IBIT - Expense Ratio Comparison
XLCP.L has a 0.14% expense ratio, which is lower than IBIT's 0.25% 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
XLCP.L vs. IBIT - Dividend Comparison
Neither XLCP.L nor IBIT has paid dividends to shareholders.
Frequently Asked Questions
XLCP.L and IBIT have a correlation of 0.07, 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 0.25% for IBIT.
XLCP.L is categorized as Communications Equities, while IBIT is Cryptocurrency. XLCP.L tracks MSCI World/Comm Services NR USD, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.14% for XLCP.L and 0.25% for IBIT.
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