XLCP.L vs. JPM

Last updated Jun 26, 2026

XLCP.L (Invesco Communications S&P US Select Sector UCITS ETF A) is Communications Equities fund tracking the MSCI World/Comm Services NR USD, while JPM (JPMorgan Chase & Co.) is a stock. Over the past 5 years, XLCP.L returned 7.43%/yr vs 21.02%/yr for JPM. At a 0.28 correlation, their price movements are largely independent.

Performance

XLCP.L vs. JPM - 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 JPMorgan Chase & Co. (JPM). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

XLCP.L is traded in GBp, while JPM is traded in USD. To make them comparable, the JPM 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 -6.39% return, which is significantly lower than JPM's 7.20% return.

XLCP.L

• 1D: -1.75%
• 1M: -7.22%
• YTD: -6.39%
• 6M: -5.49%
• 1Y: -0.08%
• 3Y*: 18.52%
• 5Y*: 7.43%
• 10Y*: —

JPM

• 1D: 0.28%
• 1M: 11.32%
• YTD: 7.20%
• 6M: 5.20%
• 1Y: 24.49%
• 3Y*: 35.41%
• 5Y*: 21.02%
• 10Y*: 22.50%

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

XLCP.L vs. JPM - 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	-6.39%	11.11%	40.05%	43.94%	-32.63%	15.05%	17.17%	27.75%	-30.77%
JPM JPMorgan Chase & Co.	7.20%	27.49%	46.81%	24.10%	-2.25%	28.96%	-8.31%	41.66%	-10.98%

Correlation

The correlation between XLCP.L and JPM is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.24
Correlation (All Time) Calculated using the full available price history since Sep 18, 2018	0.28

The correlation between XLCP.L and JPM shifts across timeframes, from 0.17 (1 year) to 0.28 (all time), reflecting how their relationship changes across market environments.

Return for Risk

XLCP.L vs. JPM — 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: 9
XLCP.L Sharpe Ratio Rank: 9
XLCP.L Sortino Ratio Rank: 8
XLCP.L Omega Ratio Rank: 8
XLCP.L Calmar Ratio Rank: 9
XLCP.L Martin Ratio Rank: 9

JPM

JPM Risk / Return Rank: 68
JPM Sharpe Ratio Rank: 72
JPM Sortino Ratio Rank: 65
JPM Omega Ratio Rank: 64
JPM Calmar Ratio Rank: 69
JPM Martin Ratio Rank: 69

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. JPM - 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 JPMorgan Chase & Co. (JPM). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	XLCP.L	JPM	Difference
Sharpe ratio: Return per unit of total volatility	-0.01	1.12	-1.12
Sortino ratio: Return per unit of downside risk	0.09	1.53	-1.44
Omega ratio: Gain probability vs. loss probability	1.01	1.20	-0.19
Calmar ratio: Return relative to maximum drawdown	-0.01	1.70	-1.71
Martin ratio: Return relative to average drawdown	-0.02	3.80	-3.82

XLCP.L vs. JPM - Sharpe Ratio Comparison

The current XLCP.L Sharpe Ratio is -0.01, which is lower than the JPM Sharpe Ratio of 1.12. The chart below compares the historical Sharpe Ratios of XLCP.L and JPM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

XLCP.L vs. JPM - Drawdown Comparison

The maximum XLCP.L drawdown since its inception was -38.47%, smaller than the maximum JPM drawdown of -59.49%. Use the drawdown chart below to compare losses from any high point for XLCP.L and JPM.

Drawdown Indicators

	XLCP.L	JPM	Difference
Max Drawdown Largest peak-to-trough decline	-38.47%	-59.49%	+21.02%
Max Drawdown (1Y) Largest decline over 1 year	-10.00%	-14.47%	+4.47%
Max Drawdown (3Y) Largest decline over 3 years	-21.99%	-26.29%	+4.30%
Max Drawdown (5Y) Largest decline over 5 years	-38.47%	-26.29%	-12.18%
Max Drawdown (10Y) Largest decline over 10 years	—	-36.21%	—
Current Drawdown Current decline from peak	-10.00%	0.00%	-10.00%
Average Drawdown Average peak-to-trough decline	-11.90%	-9.61%	-2.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.80%	6.46%	-2.66%

Volatility

XLCP.L vs. JPM - Volatility Comparison

The current volatility for Invesco Communications S&P US Select Sector UCITS ETF A (XLCP.L) is 5.37%, while JPMorgan Chase & Co. (JPM) has a volatility of 7.06%. This indicates that XLCP.L experiences smaller price fluctuations and is considered to be less risky than JPM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XLCP.L	JPM	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.37%	7.06%	-1.69%
Volatility (6M) Calculated over the trailing 6-month period	10.51%	16.60%	-6.09%
Volatility (1Y) Calculated over the trailing 1-year period	13.40%	22.01%	-8.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.84%	24.02%	-1.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.04%	27.41%	-4.37%

Dividends

XLCP.L vs. JPM - Dividend Comparison

XLCP.L has not paid dividends to shareholders, while JPM's dividend yield for the trailing twelve months is around 1.76%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JPM JPMorgan Chase & Co.	1.76%	1.72%	1.92%	2.38%	2.98%	2.34%	2.83%	2.37%	2.54%	1.91%	2.13%	2.54%
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

Can I hold both XLCP.L and JPM in my portfolio?

XLCP.L and JPM have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.