XLF vs. XLFS.L

Last updated Apr 2, 2026

Compare and contrast key facts about Financial Select Sector SPDR Fund (XLF) and Invesco Financials S&P US Select Sector UCITS ETF Acc (XLFS.L).

XLF and XLFS.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XLF is a passively managed fund by State Street that tracks the performance of the Financial Select Sector Index. It was launched on Dec 16, 1998. XLFS.L is a passively managed fund by Invesco that tracks the performance of the S&P® Select Sector Capped 20% Financials Index. It was launched on Dec 16, 2009. Both XLF and XLFS.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

XLF vs. XLFS.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Financial Select Sector SPDR Fund (XLF) and Invesco Financials S&P US Select Sector UCITS ETF Acc (XLFS.L). The values are adjusted to include any dividend payments, if applicable.

XLF vs. XLFS.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XLF Financial Select Sector SPDR Fund	-9.27%	14.90%	30.56%	12.03%	-10.59%	34.80%	-1.74%	31.88%	-13.06%	22.00%
XLFS.L Invesco Financials S&P US Select Sector UCITS ETF Acc	-11.07%	14.99%	30.15%	12.12%	-11.03%	36.17%	-3.47%	31.51%	-14.44%	22.86%

Returns By Period

In the year-to-date period, XLF achieves a -9.27% return, which is significantly higher than XLFS.L's -11.07% return. Both investments have delivered pretty close results over the past 10 years, with XLF having a 12.45% annualized return and XLFS.L not far behind at 11.97%.

XLF

• 1D: 0.14%
• 1M: -3.13%
• YTD: -9.27%
• 6M: -6.60%
• 1Y: 0.91%
• 3Y*: 17.30%
• 5Y*: 9.37%
• 10Y*: 12.45%

XLFS.L

• 1D: 0.46%
• 1M: -4.90%
• YTD: -11.07%
• 6M: -8.26%
• 1Y: 0.31%
• 3Y*: 16.60%
• 5Y*: 8.86%
• 10Y*: 11.97%

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

XLF vs. XLFS.L - Expense Ratio Comparison

XLF has a 0.13% expense ratio, which is lower than XLFS.L's 0.14% 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%.

XLFS.L

Invesco Financials S&P US Select Sector UCITS ETF Acc

XLF

Financial Select Sector SPDR Fund

Return for Risk

XLF vs. XLFS.L — Risk / Return Rank

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

XLF

XLF Risk / Return Rank: 13
XLF Sharpe Ratio Rank: 13
XLF Sortino Ratio Rank: 12
XLF Omega Ratio Rank: 12
XLF Calmar Ratio Rank: 13
XLF Martin Ratio Rank: 13

XLFS.L

XLFS.L Risk / Return Rank: 12
XLFS.L Sharpe Ratio Rank: 12
XLFS.L Sortino Ratio Rank: 12
XLFS.L Omega Ratio Rank: 12
XLFS.L Calmar Ratio Rank: 11
XLFS.L Martin Ratio Rank: 11

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.

XLF vs. XLFS.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Financial Select Sector SPDR Fund (XLF) and Invesco Financials S&P US Select Sector UCITS ETF Acc (XLFS.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.

	XLF	XLFS.L	Difference
Sharpe ratio Return per unit of total volatility	0.05	0.02	+0.03
Sortino ratio Return per unit of downside risk	0.19	0.15	+0.04
Omega ratio Gain probability vs. loss probability	1.03	1.02	+0.01
Calmar ratio Return relative to maximum drawdown	0.05	-0.05	+0.11
Martin ratio Return relative to average drawdown	0.16	-0.16	+0.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XLF vs. XLFS.L - Sharpe Ratio Comparison

The current XLF Sharpe Ratio is 0.05, which is higher than the XLFS.L Sharpe Ratio of 0.02. The chart below compares the historical Sharpe Ratios of XLF and XLFS.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

	XLF	XLFS.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.05	0.02	+0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	0.47	+0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	0.57	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.20	0.53	-0.33

Correlation

The correlation between XLF and XLFS.L is 0.60, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

XLF vs. XLFS.L - Dividend Comparison

XLF's dividend yield for the trailing twelve months is around 1.60%, while XLFS.L has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
XLF Financial Select Sector SPDR Fund	1.60%	1.31%	1.42%	1.71%	2.04%	1.63%	2.03%	1.87%	2.08%	1.48%	21.10%	1.95%
XLFS.L Invesco Financials 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%

Drawdowns

XLF vs. XLFS.L - Drawdown Comparison

The maximum XLF drawdown since its inception was -82.69%, which is greater than XLFS.L's maximum drawdown of -42.76%. Use the drawdown chart below to compare losses from any high point for XLF and XLFS.L.

Drawdown Indicators

	XLF	XLFS.L	Difference
Max Drawdown Largest peak-to-trough decline	-82.69%	-42.76%	-39.93%
Max Drawdown (1Y) Largest decline over 1 year	-14.79%	-13.93%	-0.86%
Max Drawdown (5Y) Largest decline over 5 years	-25.81%	-26.06%	+0.25%
Max Drawdown (10Y) Largest decline over 10 years	-42.86%	-42.76%	-0.10%
Current Drawdown Current decline from peak	-11.89%	-12.89%	+1.00%
Average Drawdown Average peak-to-trough decline	-20.10%	-7.52%	-12.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.96%	4.87%	+0.09%

Volatility

XLF vs. XLFS.L - Volatility Comparison

Financial Select Sector SPDR Fund (XLF) and Invesco Financials S&P US Select Sector UCITS ETF Acc (XLFS.L) have volatilities of 4.76% and 4.80%, 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

	XLF	XLFS.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.76%	4.80%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	11.45%	10.50%	+0.95%
Volatility (1Y) Calculated over the trailing 1-year period	19.25%	18.53%	+0.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.69%	19.00%	-0.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.18%	20.92%	+1.26%