XLES.L vs. COPG.L
XLES.L (Invesco Energy S&P US Select Sector UCITS ETF Acc) and COPG.L (Global X Copper Miners UCITS ETF USD Acc) are both exchange-traded funds - XLES.L is a Energy Equities fund tracking the S&P® Select Sector Capped 20% Energy Index, while COPG.L is a Copper fund tracking the Solactive Global Copper Miners Total Return Index. Both are passively managed. Over the past 3 years, XLES.L returned 14.35%/yr vs 26.85%/yr for COPG.L. At a 0.33 correlation, their price movements are largely independent. XLES.L charges 0.14%/yr vs 0.65%/yr for COPG.L.
Performance
XLES.L vs. COPG.L - Performance Comparison
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Different Trading Currencies
XLES.L is traded in USD, while COPG.L is traded in GBP. To make them comparable, the COPG.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, XLES.L achieves a 29.36% return, which is significantly higher than COPG.L's 4.79% return.
XLES.L
- 1D
- 0.68%
- 1M
- 5.27%
- 6M
- 22.03%
- YTD
- 29.36%
- 1Y
- 36.90%
- 3Y*
- 14.35%
- 5Y*
- 22.08%
- 10Y*
- 8.93%
COPG.L
- 1D
- 0.00%
- 1M
- -15.86%
- 6M
- -5.65%
- YTD
- 4.79%
- 1Y
- 76.98%
- 3Y*
- 26.85%
- 5Y*
- —
- 10Y*
- —
XLES.L vs. COPG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
XLES.L Invesco Energy S&P US Select Sector UCITS ETF Acc | 29.36% | 8.75% | 3.30% | 0.37% | 61.87% | 1.97% |
COPG.L Global X Copper Miners UCITS ETF USD Acc | 4.79% | 95.78% | 1.93% | 8.46% | 0.82% | -23.67% |
Correlation
The correlation between XLES.L and COPG.L is -0.08, 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 | -0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Nov 22, 2021 | 0.33 |
The correlation between XLES.L and COPG.L shifts across timeframes, from -0.08 (1 year) to 0.33 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
XLES.L vs. COPG.L — Risk / Return Rank
XLES.L
COPG.L
XLES.L vs. COPG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Energy S&P US Select Sector UCITS ETF Acc (XLES.L) and Global X Copper Miners UCITS ETF USD Acc (COPG.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.
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.
| XLES.L | COPG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.28 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.41 | 2.82 | -0.41 |
| Martin ratioReturn relative to average drawdown | 6.24 | 7.22 | -0.99 |
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Drawdowns
XLES.L vs. COPG.L - Drawdown Comparison
The maximum XLES.L drawdown since its inception was -72.10%, which is greater than COPG.L's maximum drawdown of -43.80%. Use the drawdown chart below to compare losses from any high point for XLES.L and COPG.L.
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Drawdown Indicators
| XLES.L | COPG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.10% | -43.80% | -28.30% |
Max Drawdown (1Y)Largest decline over 1 year | -15.25% | -27.48% | +12.23% |
Max Drawdown (3Y)Largest decline over 3 years | -21.36% | -38.32% | +16.96% |
Max Drawdown (5Y)Largest decline over 5 years | -28.55% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -67.55% | — | — |
Current DrawdownCurrent decline from peak | -7.57% | -21.44% | +13.87% |
Average DrawdownAverage peak-to-trough decline | -18.44% | -17.50% | -0.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.90% | 10.69% | -4.79% |
Volatility
XLES.L vs. COPG.L - Volatility Comparison
The current volatility for Invesco Energy S&P US Select Sector UCITS ETF Acc (XLES.L) is 6.74%, while Global X Copper Miners UCITS ETF USD Acc (COPG.L) has a volatility of 12.57%. This indicates that XLES.L experiences smaller price fluctuations and is considered to be less risky than COPG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XLES.L | COPG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.74% | 12.57% | -5.83% |
Volatility (6M)Calculated over the trailing 6-month period | 19.22% | 37.29% | -18.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.45% | 43.47% | -21.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.82% | 38.26% | -11.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.87% | 38.26% | -9.39% |
XLES.L vs. COPG.L - Expense Ratio Comparison
XLES.L has a 0.14% expense ratio, which is lower than COPG.L's 0.65% expense ratio.
Dividends
XLES.L vs. COPG.L - Dividend Comparison
Neither XLES.L nor COPG.L has paid dividends to shareholders.
Frequently Asked Questions
XLES.L and COPG.L have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XLES.L is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XLES.L is cheaper with a 0.14% expense ratio, compared with 0.65% for COPG.L.
XLES.L is categorized as Energy Equities, while COPG.L is Copper. XLES.L tracks S&P® Select Sector Capped 20% Energy Index, while COPG.L tracks Solactive Global Copper Miners Total Return Index. They also come from different issuers: Invesco and Global X. Their fees differ too: 0.14% for XLES.L and 0.65% for COPG.L.
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