XLCP.L vs. IYZ
XLCP.L (Invesco Communications S&P US Select Sector UCITS ETF A) and IYZ (iShares U.S. Telecommunications ETF) are both Communications Equities funds - XLCP.L tracks the MSCI World/Comm Services NR USD while IYZ tracks the Dow Jones U.S. Select Telecommunications Index. Both are passively managed. Over the past 5 years, XLCP.L returned 9.26%/yr vs 9.23%/yr for IYZ. At a 0.44 correlation, their price movements are largely independent. XLCP.L charges 0.14%/yr vs 0.42%/yr for IYZ.
Performance
XLCP.L vs. IYZ - Performance Comparison
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Different Trading Currencies
XLCP.L is traded in GBp, while IYZ is traded in USD. To make them comparable, the IYZ 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 IYZ's 31.82% 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*
- —
IYZ
- 1D
- -0.56%
- 1M
- 5.51%
- YTD
- 31.82%
- 6M
- 34.78%
- 1Y
- 61.06%
- 3Y*
- 26.85%
- 5Y*
- 9.23%
- 10Y*
- 6.97%
XLCP.L vs. IYZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
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% |
IYZ iShares U.S. Telecommunications ETF | 31.82% | 20.07% | 22.63% | -1.29% | -22.00% | 12.75% | 1.07% | 11.72% | -8.42% |
Correlation
The correlation between XLCP.L and IYZ is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Sep 18, 2018 | 0.44 |
The correlation between XLCP.L and IYZ shifts across timeframes, from 0.28 (1 year) to 0.44 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
XLCP.L vs. IYZ — Risk / Return Rank
XLCP.L
IYZ
XLCP.L vs. IYZ - 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 U.S. Telecommunications ETF (IYZ). 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 | IYZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.85 | ||
| Sortino ratioReturn per unit of downside risk | -3.68 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.60 | -0.49 |
| Calmar ratioReturn relative to maximum drawdown | 0.93 | 10.27 | -9.34 |
| Martin ratioReturn relative to average drawdown | 2.27 | 33.76 | -31.49 |
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 | IYZ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.58 | 3.44 | -2.85 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.52 | 0.51 | +0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.36 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.63 | 0.30 | +0.33 |
Drawdowns
XLCP.L vs. IYZ - Drawdown Comparison
The maximum XLCP.L drawdown since its inception was -38.47%, smaller than the maximum IYZ drawdown of -47.51%. Use the drawdown chart below to compare losses from any high point for XLCP.L and IYZ.
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Drawdown Indicators
| XLCP.L | IYZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.47% | -47.51% | +9.04% |
Max Drawdown (1Y)Largest decline over 1 year | -8.07% | -5.97% | -2.10% |
Max Drawdown (3Y)Largest decline over 3 years | -18.92% | -17.54% | -1.38% |
Max Drawdown (5Y)Largest decline over 5 years | -38.47% | -32.50% | -5.97% |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.43% | — |
Current DrawdownCurrent decline from peak | -5.41% | -3.16% | -2.25% |
Average DrawdownAverage peak-to-trough decline | -8.48% | -14.95% | +6.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.31% | 1.81% | +1.50% |
Volatility
XLCP.L vs. IYZ - Volatility Comparison
The current volatility for Invesco Communications S&P US Select Sector UCITS ETF A (XLCP.L) is 4.51%, while iShares U.S. Telecommunications ETF (IYZ) has a volatility of 7.67%. This indicates that XLCP.L experiences smaller price fluctuations and is considered to be less risky than IYZ 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 | IYZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.51% | 7.67% | -3.16% |
Volatility (6M)Calculated over the trailing 6-month period | 9.75% | 14.73% | -4.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.81% | 17.87% | -5.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.68% | 18.09% | -0.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.59% | 19.56% | -0.97% |
XLCP.L vs. IYZ - Expense Ratio Comparison
XLCP.L has a 0.14% expense ratio, which is lower than IYZ's 0.42% expense ratio.
Dividends
XLCP.L vs. IYZ - Dividend Comparison
XLCP.L has not paid dividends to shareholders, while IYZ's dividend yield for the trailing twelve months is around 1.51%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IYZ iShares U.S. Telecommunications ETF | 1.51% | 2.04% | 1.94% | 2.27% | 2.55% | 2.51% | 2.60% | 2.36% | 2.15% | 3.54% | 2.27% | 1.98% |
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 IYZ have a correlation of 0.28, 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 0.42% for IYZ.
XLCP.L tracks MSCI World/Comm Services NR USD, while IYZ tracks Dow Jones U.S. Select Telecommunications Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.14% for XLCP.L and 0.42% for IYZ.
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