XLES.L vs. IESU.L
XLES.L (Invesco Energy S&P US Select Sector UCITS ETF Acc) and IESU.L (iShares S&P 500 Energy Sector UCITS ETF USD (Acc)) are both Energy Equities funds - XLES.L tracks the S&P® Select Sector Capped 20% Energy Index while IESU.L tracks the S&P 500 Capped 35/20 Energy Index NTR. Both are passively managed. Over the past 10 years, XLES.L returned 8.93%/yr vs 8.78%/yr for IESU.L. With a 0.96 correlation, they move nearly in lockstep. XLES.L charges 0.14%/yr vs 0.15%/yr for IESU.L.
Performance
XLES.L vs. IESU.L - Performance Comparison
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Different Trading Currencies
XLES.L is traded in USD, while IESU.L is traded in GBp. To make them comparable, the IESU.L values have been converted to USD using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with XLES.L having a 29.36% return and IESU.L slightly lower at 28.54%. Both investments have delivered pretty close results over the past 10 years, with XLES.L having a 8.93% annualized return and IESU.L not far behind at 8.78%.
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%
IESU.L
- 1D
- 0.85%
- 1M
- 6.06%
- 6M
- 21.20%
- YTD
- 28.54%
- 1Y
- 36.33%
- 3Y*
- 14.63%
- 5Y*
- 22.27%
- 10Y*
- 8.78%
XLES.L vs. IESU.L - 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 | 29.36% | 8.75% | 3.30% | 0.37% | 61.87% | 52.10% | -32.72% | 9.36% | -17.97% | -1.57% |
IESU.L iShares S&P 500 Energy Sector UCITS ETF USD (Acc) | 28.54% | 9.98% | 3.69% | -1.00% | 63.91% | 52.43% | -33.64% | 9.60% | -18.29% | -1.45% |
Correlation
The correlation between XLES.L and IESU.L is 0.97 - 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 | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Nov 20, 2015 | 0.96 |
The correlation between XLES.L and IESU.L has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.
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Return for Risk
XLES.L vs. IESU.L — Risk / Return Rank
XLES.L
IESU.L
XLES.L vs. IESU.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 iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IESU.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 | IESU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.26 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.41 | 2.21 | +0.20 |
| Martin ratioReturn relative to average drawdown | 6.24 | 5.65 | +0.59 |
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Drawdowns
XLES.L vs. IESU.L - Drawdown Comparison
The maximum XLES.L drawdown since its inception was -72.10%, roughly equal to the maximum IESU.L drawdown of -72.57%. Use the drawdown chart below to compare losses from any high point for XLES.L and IESU.L.
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Drawdown Indicators
| XLES.L | IESU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.10% | -72.57% | +0.47% |
Max Drawdown (1Y)Largest decline over 1 year | -15.25% | -16.37% | +1.12% |
Max Drawdown (3Y)Largest decline over 3 years | -21.36% | -22.55% | +1.19% |
Max Drawdown (5Y)Largest decline over 5 years | -28.55% | -27.74% | -0.81% |
Max Drawdown (10Y)Largest decline over 10 years | -67.55% | -66.85% | -0.70% |
Current DrawdownCurrent decline from peak | -7.57% | -8.87% | +1.30% |
Average DrawdownAverage peak-to-trough decline | -18.44% | -24.88% | +6.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.90% | 6.42% | -0.52% |
Volatility
XLES.L vs. IESU.L - Volatility Comparison
Invesco Energy S&P US Select Sector UCITS ETF Acc (XLES.L) and iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IESU.L) have volatilities of 6.74% and 6.97%, 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.
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Volatility by Period
| XLES.L | IESU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.74% | 6.97% | -0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 19.22% | 21.03% | -1.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.45% | 23.89% | -1.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.82% | 29.47% | -2.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.87% | 29.81% | -0.94% |
XLES.L vs. IESU.L - Expense Ratio Comparison
XLES.L has a 0.14% expense ratio, which is lower than IESU.L's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
XLES.L vs. IESU.L - Dividend Comparison
Neither XLES.L nor IESU.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.97, XLES.L and IESU.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.
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 0.15% for IESU.L.
XLES.L tracks S&P® Select Sector Capped 20% Energy Index, while IESU.L tracks S&P 500 Capped 35/20 Energy Index NTR. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.14% for XLES.L and 0.15% for IESU.L.
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