XLEP.L vs. XSEN.L

Last updated Jun 5, 2026

XLEP.L (Invesco US Energy Sector UCITS ETF) and XSEN.L (Xtrackers MSCI USA Energy UCITS ETF 1D) are both Energy Equities funds tracking the MSCI World/Energy NR USD, from Invesco and Xtrackers respectively. Both are passively managed. Over the past 5 years, XLEP.L returned 21.30%/yr vs 21.37%/yr for XSEN.L. With a 0.99 correlation, they move nearly in lockstep. XLEP.L charges 0.14%/yr vs 0.12%/yr for XSEN.L.

Performance

XLEP.L vs. XSEN.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco US Energy Sector UCITS ETF (XLEP.L) and Xtrackers MSCI USA Energy UCITS ETF 1D (XSEN.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with XLEP.L having a 31.41% return and XSEN.L slightly lower at 30.06%.

XLEP.L

• 1D: -0.21%
• 1M: -0.08%
• YTD: 31.41%
• 6M: 28.36%
• 1Y: 47.38%
• 3Y*: 14.05%
• 5Y*: 21.30%
• 10Y*: 10.15%

XSEN.L

• 1D: -0.32%
• 1M: -0.61%
• YTD: 30.06%
• 6M: 28.04%
• 1Y: 45.70%
• 3Y*: 14.11%
• 5Y*: 21.37%
• 10Y*: —

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

XLEP.L vs. XSEN.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
XLEP.L Invesco US Energy Sector UCITS ETF	31.41%	1.41%	4.85%	-5.07%	81.43%	53.83%	-35.01%	5.84%	-12.80%
XSEN.L Xtrackers MSCI USA Energy UCITS ETF 1D	30.06%	1.87%	6.67%	-5.89%	82.86%	50.90%	-35.95%	5.01%	-12.11%

Correlation

The correlation between XLEP.L and XSEN.L is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (All Time) Calculated using the full available price history since Apr 24, 2018	0.99

The correlation between XLEP.L and XSEN.L has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.

XLEP.L vs. XSEN.L - Sectors Allocation Comparison

Sectors	XLEP.L	XSEN.L
Energy	100.0%	100.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

XLEP.L vs. XSEN.L — 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: 57
XLEP.L Sharpe Ratio Rank: 61
XLEP.L Sortino Ratio Rank: 52
XLEP.L Omega Ratio Rank: 58
XLEP.L Calmar Ratio Rank: 60
XLEP.L Martin Ratio Rank: 54

XSEN.L

XSEN.L Risk / Return Rank: 54
XSEN.L Sharpe Ratio Rank: 58
XSEN.L Sortino Ratio Rank: 49
XSEN.L Omega Ratio Rank: 56
XSEN.L Calmar Ratio Rank: 56
XSEN.L Martin Ratio Rank: 51

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. XSEN.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco US Energy Sector UCITS ETF (XLEP.L) and Xtrackers MSCI USA Energy UCITS ETF 1D (XSEN.L). 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	XSEN.L	Difference
Sharpe ratio: Return per unit of total volatility	2.02	1.92	+0.10
Sortino ratio: Return per unit of downside risk	2.49	2.37	+0.12
Omega ratio: Gain probability vs. loss probability	1.35	1.34	+0.01
Calmar ratio: Return relative to maximum drawdown	2.92	2.75	+0.17
Martin ratio: Return relative to average drawdown	9.27	8.57	+0.70
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. XSEN.L - Sharpe Ratio Comparison

The current XLEP.L Sharpe Ratio is 2.02, which is comparable to the XSEN.L Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of XLEP.L and XSEN.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	XLEP.L	XSEN.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.02	1.92	+0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.81	0.82	-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	0.25	0.34	-0.10

Drawdowns

XLEP.L vs. XSEN.L - Drawdown Comparison

The maximum XLEP.L drawdown since its inception was -63.35%, roughly equal to the maximum XSEN.L drawdown of -62.46%. Use the drawdown chart below to compare losses from any high point for XLEP.L and XSEN.L.

Drawdown Indicators

	XLEP.L	XSEN.L	Difference
Max Drawdown Largest peak-to-trough decline	-63.35%	-62.46%	-0.89%
Max Drawdown (1Y) Largest decline over 1 year	-16.17%	-16.55%	+0.38%
Max Drawdown (3Y) Largest decline over 3 years	-24.06%	-23.22%	-0.84%
Max Drawdown (5Y) Largest decline over 5 years	-24.16%	-24.04%	-0.12%
Max Drawdown (10Y) Largest decline over 10 years	-63.35%	—	—
Current Drawdown Current decline from peak	-8.08%	-9.31%	+1.23%
Average Drawdown Average peak-to-trough decline	-16.96%	-17.79%	+0.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.10%	5.32%	-0.22%

Volatility

XLEP.L vs. XSEN.L - Volatility Comparison

Invesco US Energy Sector UCITS ETF (XLEP.L) and Xtrackers MSCI USA Energy UCITS ETF 1D (XSEN.L) have volatilities of 8.92% and 9.04%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XLEP.L	XSEN.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.92%	9.04%	-0.12%
Volatility (6M) Calculated over the trailing 6-month period	19.87%	20.50%	-0.63%
Volatility (1Y) Calculated over the trailing 1-year period	23.44%	23.79%	-0.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.28%	26.01%	+0.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.14%	29.43%	-1.29%

XLEP.L vs. XSEN.L - Expense Ratio Comparison

XLEP.L has a 0.14% expense ratio, which is higher than XSEN.L's 0.12% 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%.

Dividends

XLEP.L vs. XSEN.L - Dividend Comparison

XLEP.L has not paid dividends to shareholders, while XSEN.L's dividend yield for the trailing twelve months is around 2.08%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
XLEP.L Invesco US Energy Sector UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XSEN.L Xtrackers MSCI USA Energy UCITS ETF 1D	2.08%	2.70%	2.70%	3.24%	3.69%	3.27%	7.11%	2.78%

Frequently Asked Questions

Can I hold both XLEP.L and XSEN.L in my portfolio?

With a correlation of 0.99, XLEP.L and XSEN.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, XLEP.L or XSEN.L?

On fees, XSEN.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XLEP.L or XSEN.L?

XSEN.L is cheaper with a 0.12% expense ratio, compared with 0.14% for XLEP.L.

What is the main difference between XLEP.L and XSEN.L?

Both ETFs track MSCI World/Energy NR USD. They also come from different issuers: Invesco and Xtrackers. Their fees differ too: 0.14% for XLEP.L and 0.12% for XSEN.L.