XLES.L vs. WENS.L

Last updated Apr 2, 2026

Compare and contrast key facts about Invesco Energy S&P US Select Sector UCITS ETF Acc (XLES.L) and iShares MSCI World Energy Sector UCITS ETF USD (Dist) (WENS.L).

XLES.L and WENS.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XLES.L is a passively managed fund by Invesco that tracks the performance of the S&P® Select Sector Capped 20% Energy Index. It was launched on Dec 16, 2009. WENS.L is a passively managed fund by iShares that tracks the performance of the MSCI World/Energy NR USD. It was launched on Oct 17, 2019. Both XLES.L and WENS.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

XLES.L vs. WENS.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 iShares MSCI World Energy Sector UCITS ETF USD (Dist) (WENS.L). The values are adjusted to include any dividend payments, if applicable.

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

	2026 (YTD)	2025	2024	2023	2022
XLES.L Invesco Energy S&P US Select Sector UCITS ETF Acc	31.53%	8.75%	3.30%	0.37%	22.07%
WENS.L iShares MSCI World Energy Sector UCITS ETF USD (Dist)	31.93%	11.03%	0.39%	3.17%	16.86%

Different Trading Currencies

XLES.L is traded in USD, while WENS.L is traded in GBP. To make them comparable, the WENS.L values have been converted to USD using the latest available exchange rates.

Returns By Period

The year-to-date returns for both investments are quite close, with XLES.L having a 31.53% return and WENS.L slightly higher at 31.93%.

XLES.L

• 1D: -5.45%
• 1M: 4.65%
• YTD: 31.53%
• 6M: 33.14%
• 1Y: 29.04%
• 3Y*: 15.73%
• 5Y*: 22.98%
• 10Y*: 10.56%

WENS.L

• 1D: -5.12%
• 1M: 5.35%
• YTD: 31.93%
• 6M: 32.56%
• 1Y: 31.69%
• 3Y*: 16.22%
• 5Y*: —
• 10Y*: —

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

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

XLES.L has a 0.14% expense ratio, which is lower than WENS.L's 0.25% 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%.

WENS.L

iShares MSCI World Energy Sector UCITS ETF USD (Dist)

XLES.L

Invesco Energy S&P US Select Sector UCITS ETF Acc

Return for Risk

XLES.L vs. WENS.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: 64
XLES.L Sharpe Ratio Rank: 68
XLES.L Sortino Ratio Rank: 61
XLES.L Omega Ratio Rank: 61
XLES.L Calmar Ratio Rank: 70
XLES.L Martin Ratio Rank: 60

WENS.L

WENS.L Risk / Return Rank: 69
WENS.L Sharpe Ratio Rank: 71
WENS.L Sortino Ratio Rank: 66
WENS.L Omega Ratio Rank: 67
WENS.L Calmar Ratio Rank: 78
WENS.L Martin Ratio Rank: 63

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. WENS.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 MSCI World Energy Sector UCITS ETF USD (Dist) (WENS.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	WENS.L	Difference
Sharpe ratio Return per unit of total volatility	1.25	1.49	-0.24
Sortino ratio Return per unit of downside risk	1.64	1.90	-0.27
Omega ratio Gain probability vs. loss probability	1.24	1.28	-0.05
Calmar ratio Return relative to maximum drawdown	1.99	2.20	-0.22
Martin ratio Return relative to average drawdown	6.55	8.78	-2.23
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. WENS.L - Sharpe Ratio Comparison

The current XLES.L Sharpe Ratio is 1.25, which is comparable to the WENS.L Sharpe Ratio of 1.49. The chart below compares the historical Sharpe Ratios of XLES.L and WENS.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	XLES.L	WENS.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.25	1.49	-0.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.86	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.37	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.29	0.75	-0.46

Correlation

The correlation between XLES.L and WENS.L is 0.92, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

XLES.L vs. WENS.L - Dividend Comparison

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

	TTM	2025	2024	2023	2022
XLES.L Invesco Energy S&P US Select Sector UCITS ETF Acc	0.00%	0.00%	0.00%	0.00%	0.00%
WENS.L iShares MSCI World Energy Sector UCITS ETF USD (Dist)	0.00%	0.00%	1.75%	3.61%	1.77%

Drawdowns

XLES.L vs. WENS.L - Drawdown Comparison

The maximum XLES.L drawdown since its inception was -72.10%, which is greater than WENS.L's maximum drawdown of -20.04%. Use the drawdown chart below to compare losses from any high point for XLES.L and WENS.L.

Drawdown Indicators

	XLES.L	WENS.L	Difference
Max Drawdown Largest peak-to-trough decline	-72.10%	-22.49%	-49.61%
Max Drawdown (1Y) Largest decline over 1 year	-19.47%	-17.38%	-2.09%
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	-6.02%	-6.18%	+0.16%
Average Drawdown Average peak-to-trough decline	-20.57%	-9.15%	-11.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.31%	4.20%	+0.11%

Volatility

XLES.L vs. WENS.L - Volatility Comparison

Invesco Energy S&P US Select Sector UCITS ETF Acc (XLES.L) and iShares MSCI World Energy Sector UCITS ETF USD (Dist) (WENS.L) have volatilities of 8.43% and 8.38%, 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

	XLES.L	WENS.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.43%	8.38%	+0.05%
Volatility (6M) Calculated over the trailing 6-month period	14.69%	13.99%	+0.70%
Volatility (1Y) Calculated over the trailing 1-year period	23.19%	21.24%	+1.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.88%	21.98%	+4.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.77%	21.98%	+6.79%