XLEP.L vs. VDE

Last updated Apr 2, 2026

Compare and contrast key facts about Invesco US Energy Sector UCITS ETF (XLEP.L) and Vanguard Energy ETF (VDE).

XLEP.L and VDE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XLEP.L is a passively managed fund by Invesco that tracks the performance of the MSCI World/Energy NR USD. It was launched on Dec 16, 2009. VDE is a passively managed fund by Vanguard that tracks the performance of the MSCI US Investable Market Energy 25/50 Index. It was launched on Sep 23, 2004. Both XLEP.L and VDE 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

XLEP.L vs. VDE - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco US Energy Sector UCITS ETF (XLEP.L) and Vanguard Energy ETF (VDE). The values are adjusted to include any dividend payments, if applicable.

XLEP.L vs. VDE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XLEP.L Invesco US Energy Sector UCITS ETF	32.72%	1.41%	4.85%	-5.07%	81.43%	53.83%	-35.01%	5.84%	-13.66%	-9.87%
VDE Vanguard Energy ETF	35.43%	-0.52%	8.62%	-4.97%	82.25%	57.79%	-34.99%	5.12%	-15.20%	-10.93%

Different Trading Currencies

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

Returns By Period

In the year-to-date period, XLEP.L achieves a 32.72% return, which is significantly lower than VDE's 35.43% return. Both investments have delivered pretty close results over the past 10 years, with XLEP.L having a 11.23% annualized return and VDE not far ahead at 11.62%.

XLEP.L

• 1D: -6.53%
• 1M: 4.89%
• YTD: 32.72%
• 6M: 34.53%
• 1Y: 25.04%
• 3Y*: 12.85%
• 5Y*: 23.88%
• 10Y*: 11.23%

VDE

• 1D: -3.83%
• 1M: 5.45%
• YTD: 35.43%
• 6M: 36.47%
• 1Y: 28.53%
• 3Y*: 14.25%
• 5Y*: 24.38%
• 10Y*: 11.62%

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

XLEP.L vs. VDE - Expense Ratio Comparison

XLEP.L has a 0.14% expense ratio, which is higher than VDE's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

XLEP.L

Invesco US Energy Sector UCITS ETF

VDE

Vanguard Energy ETF

Return for Risk

XLEP.L vs. VDE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XLEP.L

XLEP.L Risk / Return Rank: 55
XLEP.L Sharpe Ratio Rank: 56
XLEP.L Sortino Ratio Rank: 51
XLEP.L Omega Ratio Rank: 52
XLEP.L Calmar Ratio Rank: 68
XLEP.L Martin Ratio Rank: 50

VDE

VDE Risk / Return Rank: 63
VDE Sharpe Ratio Rank: 70
VDE Sortino Ratio Rank: 63
VDE Omega Ratio Rank: 66
VDE Calmar Ratio Rank: 65
VDE Martin Ratio Rank: 49

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.

XLEP.L vs. VDE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco US Energy Sector UCITS ETF (XLEP.L) and Vanguard Energy ETF (VDE). 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.

	XLEP.L	VDE	Difference
Sharpe ratio Return per unit of total volatility	1.05	1.11	-0.06
Sortino ratio Return per unit of downside risk	1.42	1.50	-0.08
Omega ratio Gain probability vs. loss probability	1.21	1.22	-0.02
Calmar ratio Return relative to maximum drawdown	1.86	1.58	+0.28
Martin ratio Return relative to average drawdown	5.06	3.34	+1.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XLEP.L vs. VDE - Sharpe Ratio Comparison

The current XLEP.L Sharpe Ratio is 1.05, which is comparable to the VDE Sharpe Ratio of 1.11. The chart below compares the historical Sharpe Ratios of XLEP.L and VDE, 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

	XLEP.L	VDE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.05	1.11	-0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.92	0.94	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.40	0.39	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.25	0.28	-0.03

Correlation

The correlation between XLEP.L and VDE is 0.69, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

XLEP.L vs. VDE - Dividend Comparison

XLEP.L has not paid dividends to shareholders, while VDE's dividend yield for the trailing twelve months is around 2.36%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
XLEP.L Invesco US Energy Sector UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VDE Vanguard Energy ETF	2.36%	3.11%	3.23%	3.34%	3.65%	4.13%	4.76%	3.42%	3.35%	2.90%	2.31%	3.17%

Drawdowns

XLEP.L vs. VDE - Drawdown Comparison

The maximum XLEP.L drawdown since its inception was -63.35%, roughly equal to the maximum VDE drawdown of -65.62%. Use the drawdown chart below to compare losses from any high point for XLEP.L and VDE.

Drawdown Indicators

	XLEP.L	VDE	Difference
Max Drawdown Largest peak-to-trough decline	-63.35%	-74.20%	+10.85%
Max Drawdown (1Y) Largest decline over 1 year	-19.54%	-18.91%	-0.63%
Max Drawdown (5Y) Largest decline over 5 years	-24.16%	-26.58%	+2.42%
Max Drawdown (10Y) Largest decline over 10 years	-63.35%	-69.29%	+5.94%
Current Drawdown Current decline from peak	-7.16%	-5.74%	-1.42%
Average Drawdown Average peak-to-trough decline	-17.06%	-20.06%	+3.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.90%	6.61%	-1.71%

Volatility

XLEP.L vs. VDE - Volatility Comparison

Invesco US Energy Sector UCITS ETF (XLEP.L) has a higher volatility of 9.80% compared to Vanguard Energy ETF (VDE) at 6.71%. This indicates that XLEP.L's price experiences larger fluctuations and is considered to be riskier than VDE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XLEP.L	VDE	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.80%	6.71%	+3.09%
Volatility (6M) Calculated over the trailing 6-month period	15.62%	14.53%	+1.09%
Volatility (1Y) Calculated over the trailing 1-year period	23.82%	25.90%	-2.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.08%	26.07%	+0.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.93%	29.52%	-1.59%