XLES.L vs. ISUN.L

Last updated Jun 5, 2026

XLES.L (Invesco Energy S&P US Select Sector UCITS ETF Acc) and ISUN.L (Invesco Solar Energy UCITS ETF Acc) are both Energy Equities funds from Invesco - XLES.L tracks the S&P® Select Sector Capped 20% Energy Index while ISUN.L tracks the MAC Global Solar Energy Index. Both are passively managed. Over the past 3 years, XLES.L returned 17.04%/yr vs -1.20%/yr for ISUN.L. At a 0.15 correlation, their price movements are largely independent. XLES.L charges 0.14%/yr vs 0.69%/yr for ISUN.L.

Performance

XLES.L vs. ISUN.L - 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 Invesco Solar Energy UCITS ETF Acc (ISUN.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XLES.L achieves a 31.08% return, which is significantly lower than ISUN.L's 39.92% return.

XLES.L

• 1D: -0.33%
• 1M: -1.17%
• YTD: 31.08%
• 6M: 29.05%
• 1Y: 45.84%
• 3Y*: 17.04%
• 5Y*: 20.00%
• 10Y*: 9.33%

ISUN.L

• 1D: -2.43%
• 1M: 14.82%
• YTD: 39.92%
• 6M: 44.99%
• 1Y: 106.55%
• 3Y*: -1.20%
• 5Y*: —
• 10Y*: —

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

XLES.L vs. ISUN.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
XLES.L Invesco Energy S&P US Select Sector UCITS ETF Acc	31.08%	8.75%	3.30%	0.37%	61.87%	14.42%
ISUN.L Invesco Solar Energy UCITS ETF Acc	39.92%	45.70%	-36.88%	-26.04%	-7.51%	-7.86%

Correlation

The correlation between XLES.L and ISUN.L is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.12
Correlation (All Time) Calculated using the full available price history since Aug 13, 2021	0.15

The correlation between XLES.L and ISUN.L shifts across timeframes, from -0.12 (1 year) to 0.15 (all time), reflecting how their relationship changes across market environments.

XLES.L vs. ISUN.L - Sectors Allocation Comparison

Sectors	XLES.L	ISUN.L
Energy	100.0%	51.5%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	4.5%
Healthcare	-	-
Industrials	-	2.8%
Real Estate	-	-
Technology	-	62.0%
Utilities	-	30.6%

Return for Risk

XLES.L vs. ISUN.L — 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: 62
XLES.L Sharpe Ratio Rank: 65
XLES.L Sortino Ratio Rank: 57
XLES.L Omega Ratio Rank: 59
XLES.L Calmar Ratio Rank: 68
XLES.L Martin Ratio Rank: 60

ISUN.L

ISUN.L Risk / Return Rank: 87
ISUN.L Sharpe Ratio Rank: 91
ISUN.L Sortino Ratio Rank: 84
ISUN.L Omega Ratio Rank: 76
ISUN.L Calmar Ratio Rank: 95
ISUN.L Martin Ratio Rank: 90

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. ISUN.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 Invesco Solar Energy UCITS ETF Acc (ISUN.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.

	XLES.L	ISUN.L	Difference
Sharpe ratio: Return per unit of total volatility	2.13	3.08	-0.95
Sortino ratio: Return per unit of downside risk	2.68	3.68	-1.00
Omega ratio: Gain probability vs. loss probability	1.35	1.44	-0.09
Calmar ratio: Return relative to maximum drawdown	3.36	8.38	-5.02
Martin ratio: Return relative to average drawdown	10.46	20.69	-10.23
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. ISUN.L - Sharpe Ratio Comparison

The current XLES.L Sharpe Ratio is 2.13, which is lower than the ISUN.L Sharpe Ratio of 3.08. The chart below compares the historical Sharpe Ratios of XLES.L and ISUN.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

	XLES.L	ISUN.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.13	3.08	-0.95
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.75	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.33	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	-0.12	+0.40

Drawdowns

XLES.L vs. ISUN.L - Drawdown Comparison

The maximum XLES.L drawdown since its inception was -72.10%, roughly equal to the maximum ISUN.L drawdown of -74.01%. Use the drawdown chart below to compare losses from any high point for XLES.L and ISUN.L.

Drawdown Indicators

	XLES.L	ISUN.L	Difference
Max Drawdown Largest peak-to-trough decline	-72.10%	-74.01%	+1.91%
Max Drawdown (1Y) Largest decline over 1 year	-13.59%	-12.64%	-0.95%
Max Drawdown (3Y) Largest decline over 3 years	-21.36%	-64.50%	+43.14%
Max Drawdown (5Y) Largest decline over 5 years	-28.55%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-67.55%	—	—
Current Drawdown Current decline from peak	-6.34%	-30.78%	+24.44%
Average Drawdown Average peak-to-trough decline	-20.42%	-44.62%	+24.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.37%	5.13%	-0.76%

Volatility

XLES.L vs. ISUN.L - Volatility Comparison

The current volatility for Invesco Energy S&P US Select Sector UCITS ETF Acc (XLES.L) is 8.15%, while Invesco Solar Energy UCITS ETF Acc (ISUN.L) has a volatility of 13.17%. This indicates that XLES.L experiences smaller price fluctuations and is considered to be less risky than ISUN.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XLES.L	ISUN.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.15%	13.17%	-5.02%
Volatility (6M) Calculated over the trailing 6-month period	18.13%	23.69%	-5.56%
Volatility (1Y) Calculated over the trailing 1-year period	21.51%	34.48%	-12.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.88%	42.46%	-15.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.92%	42.46%	-13.54%

XLES.L vs. ISUN.L - Expense Ratio Comparison

XLES.L has a 0.14% expense ratio, which is lower than ISUN.L's 0.69% expense ratio.

Dividends

XLES.L vs. ISUN.L - Dividend Comparison

Neither XLES.L nor ISUN.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XLES.L and ISUN.L in my portfolio?

XLES.L and ISUN.L have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XLES.L or ISUN.L?

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.

Which ETF is cheaper, XLES.L or ISUN.L?

XLES.L is cheaper with a 0.14% expense ratio, compared with 0.69% for ISUN.L.

What is the main difference between XLES.L and ISUN.L?

XLES.L tracks S&P® Select Sector Capped 20% Energy Index, while ISUN.L tracks MAC Global Solar Energy Index. Their fees differ too: 0.14% for XLES.L and 0.69% for ISUN.L.