XLES.L vs. FSENX

Last updated Jun 4, 2026

XLES.L (Invesco Energy S&P US Select Sector UCITS ETF Acc) and FSENX (Fidelity Select Energy Portfolio) are both Energy Equities funds. Over the past 10 years, XLES.L returned 9.64%/yr vs 9.68%/yr for FSENX. A 0.60 correlation means they provide meaningful diversification when combined. XLES.L charges 0.14%/yr vs 0.77%/yr for FSENX.

Performance

XLES.L vs. FSENX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Energy S&P US Select Sector UCITS ETF Acc (XLES.L) and Fidelity Select Energy Portfolio (FSENX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XLES.L achieves a 31.51% return, which is significantly lower than FSENX's 35.02% return. Both investments have delivered pretty close results over the past 10 years, with XLES.L having a 9.64% annualized return and FSENX not far ahead at 9.68%.

XLES.L

• 1D: 2.31%
• 1M: 0.10%
• YTD: 31.51%
• 6M: 30.39%
• 1Y: 43.97%
• 3Y*: 17.19%
• 5Y*: 20.08%
• 10Y*: 9.64%

FSENX

• 1D: 1.38%
• 1M: -2.65%
• YTD: 35.02%
• 6M: 31.99%
• 1Y: 51.42%
• 3Y*: 19.21%
• 5Y*: 22.08%
• 10Y*: 9.68%

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

XLES.L vs. FSENX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XLES.L Invesco Energy S&P US Select Sector UCITS ETF Acc	31.51%	8.75%	3.30%	0.37%	61.87%	52.10%	-33.17%	10.10%	-17.97%	-1.57%
FSENX Fidelity Select Energy Portfolio	35.02%	10.56%	4.26%	0.94%	62.98%	55.31%	-32.51%	9.90%	-24.94%	-2.65%

Correlation

The correlation between XLES.L and FSENX is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (10Y) Calculated over the trailing 10-year period	0.69
Correlation (All Time) Calculated using the full available price history since Jan 21, 2010	0.60

The correlation between XLES.L and FSENX shifts across timeframes, from 0.60 (all time) to 0.71 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

XLES.L vs. FSENX — Risk / Return Rank

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

XLES.L

XLES.L Risk / Return Rank: 59
XLES.L Sharpe Ratio Rank: 61
XLES.L Sortino Ratio Rank: 54
XLES.L Omega Ratio Rank: 56
XLES.L Calmar Ratio Rank: 65
XLES.L Martin Ratio Rank: 58

FSENX

FSENX Risk / Return Rank: 79
FSENX Sharpe Ratio Rank: 85
FSENX Sortino Ratio Rank: 70
FSENX Omega Ratio Rank: 61
FSENX Calmar Ratio Rank: 94
FSENX Martin Ratio Rank: 84

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.

XLES.L vs. FSENX - 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 Fidelity Select Energy Portfolio (FSENX). 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.

	XLES.L	FSENX	Difference
Sharpe ratio: Return per unit of total volatility	2.03	2.74	-0.71
Sortino ratio: Return per unit of downside risk	2.58	3.47	-0.89
Omega ratio: Gain probability vs. loss probability	1.34	1.43	-0.09
Calmar ratio: Return relative to maximum drawdown	3.22	5.42	-2.20
Martin ratio: Return relative to average drawdown	10.07	15.96	-5.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XLES.L vs. FSENX - Sharpe Ratio Comparison

The current XLES.L Sharpe Ratio is 2.03, which is comparable to the FSENX Sharpe Ratio of 2.74. The chart below compares the historical Sharpe Ratios of XLES.L and FSENX, 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

	XLES.L	FSENX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.03	2.74	-0.71
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.75	0.81	-0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.34	0.31	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	0.32	-0.04

Drawdowns

XLES.L vs. FSENX - Drawdown Comparison

The maximum XLES.L drawdown since its inception was -72.10%, smaller than the maximum FSENX drawdown of -76.24%. Use the drawdown chart below to compare losses from any high point for XLES.L and FSENX.

Drawdown Indicators

	XLES.L	FSENX	Difference
Max Drawdown Largest peak-to-trough decline	-72.10%	-76.24%	+4.14%
Max Drawdown (1Y) Largest decline over 1 year	-13.59%	-9.95%	-3.64%
Max Drawdown (3Y) Largest decline over 3 years	-21.36%	-25.85%	+4.49%
Max Drawdown (5Y) Largest decline over 5 years	-28.55%	-28.02%	-0.53%
Max Drawdown (10Y) Largest decline over 10 years	-67.55%	-72.11%	+4.56%
Current Drawdown Current decline from peak	-6.03%	-5.09%	-0.94%
Average Drawdown Average peak-to-trough decline	-20.42%	-17.01%	-3.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.35%	3.37%	+0.98%

Volatility

XLES.L vs. FSENX - Volatility Comparison

Invesco Energy S&P US Select Sector UCITS ETF Acc (XLES.L) has a higher volatility of 8.21% compared to Fidelity Select Energy Portfolio (FSENX) at 7.60%. This indicates that XLES.L's price experiences larger fluctuations and is considered to be riskier than FSENX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XLES.L	FSENX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.21%	7.60%	+0.61%
Volatility (6M) Calculated over the trailing 6-month period	18.13%	15.35%	+2.78%
Volatility (1Y) Calculated over the trailing 1-year period	21.59%	19.70%	+1.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.88%	27.26%	-0.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.92%	30.96%	-2.04%

XLES.L vs. FSENX - Expense Ratio Comparison

XLES.L has a 0.14% expense ratio, which is lower than FSENX's 0.77% expense ratio.

Dividends

XLES.L vs. FSENX - Dividend Comparison

XLES.L has not paid dividends to shareholders, while FSENX's dividend yield for the trailing twelve months is around 1.59%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSENX Fidelity Select Energy Portfolio	1.59%	1.95%	1.95%	1.98%	2.50%	2.25%	3.43%	1.84%	1.48%	1.74%	0.62%	1.29%
XLES.L Invesco Energy S&P US Select Sector UCITS ETF Acc	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 XLES.L and FSENX in my portfolio?

XLES.L and FSENX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.