XLI vs. IWVL.L

Last updated Jun 14, 2026

XLI (Industrial Select Sector SPDR Fund) and IWVL.L (iShares Edge MSCI World Value Factor UCITS ETF USD (Acc)) are both exchange-traded funds - XLI is a Industrials Equities fund tracking the Industrial Select Sector Index, while IWVL.L is a Global Equities fund tracking the MSCI World Enhanced Value Index. Both are passively managed. Over the past 10 years, XLI returned 14.15%/yr vs 13.36%/yr for IWVL.L. A 0.52 correlation means they provide meaningful diversification when combined. XLI charges 0.08%/yr vs 0.25%/yr for IWVL.L.

Performance

XLI vs. IWVL.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Industrial Select Sector SPDR Fund (XLI) and iShares Edge MSCI World Value Factor UCITS ETF USD (Acc) (IWVL.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XLI achieves a 13.90% return, which is significantly lower than IWVL.L's 32.97% return. Over the past 10 years, XLI has outperformed IWVL.L with an annualized return of 14.15%, while IWVL.L has yielded a comparatively lower 13.36% annualized return.

XLI

• 1D: 0.59%
• 1M: 2.79%
• YTD: 13.90%
• 6M: 13.10%
• 1Y: 25.17%
• 3Y*: 20.87%
• 5Y*: 12.93%
• 10Y*: 14.15%

IWVL.L

• 1D: 3.36%
• 1M: 6.98%
• YTD: 32.97%
• 6M: 35.11%
• 1Y: 63.09%
• 3Y*: 28.41%
• 5Y*: 16.13%
• 10Y*: 13.36%

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

XLI vs. IWVL.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XLI Industrial Select Sector SPDR Fund	13.90%	19.35%	17.31%	18.13%	-5.57%	21.08%	10.91%	29.08%	-13.25%	23.98%
IWVL.L iShares Edge MSCI World Value Factor UCITS ETF USD (Acc)	32.97%	40.42%	5.13%	19.53%	-9.79%	20.11%	-3.67%	18.13%	-14.03%	22.60%

Correlation

The correlation between XLI and IWVL.L is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.44
Correlation (5Y) Calculated over the trailing 5-year period	0.50
Correlation (10Y) Calculated over the trailing 10-year period	0.51
Correlation (All Time) Calculated using the full available price history since Oct 6, 2014	0.52

The correlation between XLI and IWVL.L has been stable across timeframes, ranging from 0.44 to 0.52 - a consistent structural relationship.

XLI vs. IWVL.L - Sectors Allocation Comparison

Sectors	XLI	IWVL.L
Industrials	90.9%	11.3%
Utilities	4.8%	2.5%
Technology	3.8%	33.9%
Consumer Cyclical	0.5%	7.9%
Basic Materials	-	3.0%
Communication Services	-	7.6%
Consumer Defensive	-	4.5%
Energy	-	3.8%
Financial Services	-	14.8%
Healthcare	-	8.8%
Real Estate	-	1.8%

Return for Risk

XLI vs. IWVL.L — Risk / Return Rank

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

XLI

XLI Risk / Return Rank: 48
XLI Sharpe Ratio Rank: 49
XLI Sortino Ratio Rank: 50
XLI Omega Ratio Rank: 46
XLI Calmar Ratio Rank: 45
XLI Martin Ratio Rank: 52

IWVL.L

IWVL.L Risk / Return Rank: 96
IWVL.L Sharpe Ratio Rank: 96
IWVL.L Sortino Ratio Rank: 96
IWVL.L Omega Ratio Rank: 95
IWVL.L Calmar Ratio Rank: 95
IWVL.L Martin Ratio Rank: 95

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.

XLI vs. IWVL.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Industrial Select Sector SPDR Fund (XLI) and iShares Edge MSCI World Value Factor UCITS ETF USD (Acc) (IWVL.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.

	XLI	IWVL.L	Difference
Sharpe ratio: Return per unit of total volatility	1.50	3.83	-2.33
Sortino ratio: Return per unit of downside risk	2.17	5.32	-3.14
Omega ratio: Gain probability vs. loss probability	1.26	1.68	-0.42
Calmar ratio: Return relative to maximum drawdown	1.98	7.10	-5.11
Martin ratio: Return relative to average drawdown	7.82	25.90	-18.09

XLI vs. IWVL.L - Sharpe Ratio Comparison

The current XLI Sharpe Ratio is 1.50, which is lower than the IWVL.L Sharpe Ratio of 3.83. The chart below compares the historical Sharpe Ratios of XLI and IWVL.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.

Drawdowns

XLI vs. IWVL.L - Drawdown Comparison

The maximum XLI drawdown since its inception was -62.26%, which is greater than IWVL.L's maximum drawdown of -39.30%. Use the drawdown chart below to compare losses from any high point for XLI and IWVL.L.

Drawdown Indicators

	XLI	IWVL.L	Difference
Max Drawdown Largest peak-to-trough decline	-62.26%	-39.30%	-22.96%
Max Drawdown (1Y) Largest decline over 1 year	-12.21%	-8.74%	-3.47%
Max Drawdown (3Y) Largest decline over 3 years	-18.49%	-14.46%	-4.03%
Max Drawdown (5Y) Largest decline over 5 years	-21.64%	-26.55%	+4.91%
Max Drawdown (10Y) Largest decline over 10 years	-42.33%	-39.30%	-3.03%
Current Drawdown Current decline from peak	-1.24%	-1.88%	+0.64%
Average Drawdown Average peak-to-trough decline	-9.20%	-7.48%	-1.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.09%	2.40%	+0.69%

Volatility

XLI vs. IWVL.L - Volatility Comparison

The current volatility for Industrial Select Sector SPDR Fund (XLI) is 6.22%, while iShares Edge MSCI World Value Factor UCITS ETF USD (Acc) (IWVL.L) has a volatility of 6.99%. This indicates that XLI experiences smaller price fluctuations and is considered to be less risky than IWVL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XLI	IWVL.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.22%	6.99%	-0.77%
Volatility (6M) Calculated over the trailing 6-month period	13.59%	13.69%	-0.10%
Volatility (1Y) Calculated over the trailing 1-year period	16.17%	16.20%	-0.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.55%	16.15%	+1.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.04%	17.05%	+2.99%

XLI vs. IWVL.L - Expense Ratio Comparison

XLI has a 0.08% expense ratio, which is lower than IWVL.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%.

Dividends

XLI vs. IWVL.L - Dividend Comparison

XLI's dividend yield for the trailing twelve months is around 1.16%, while IWVL.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IWVL.L iShares Edge MSCI World Value Factor UCITS ETF USD (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%
XLI Industrial Select Sector SPDR Fund	1.16%	1.29%	1.44%	1.63%	1.63%	1.25%	1.55%	1.94%	2.15%	1.77%	2.07%	2.15%

Frequently Asked Questions

Can I hold both XLI and IWVL.L in my portfolio?

XLI and IWVL.L have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XLI or IWVL.L?

On fees, XLI is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XLI or IWVL.L?

XLI is cheaper with a 0.08% expense ratio, compared with 0.25% for IWVL.L.

What is the main difference between XLI and IWVL.L?

XLI is categorized as Industrials Equities, while IWVL.L is Global Equities. XLI tracks Industrial Select Sector Index, while IWVL.L tracks MSCI World Enhanced Value Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.08% for XLI and 0.25% for IWVL.L.