XLIP.L vs. FIDU

Last updated Jul 16, 2026

XLIP.L (Invesco US Industrials Sector UCITS ETF) and FIDU (Fidelity MSCI Industrials Index ETF) are both Industrials Equities funds - XLIP.L tracks the MSCI World/Materials NR USD while FIDU tracks the MSCI USA IMI Industrials Index. Both are passively managed. Over the past 10 years, XLIP.L returned 12.81%/yr vs 13.63%/yr for FIDU. A 0.64 correlation means they provide meaningful diversification when combined. XLIP.L charges 0.14%/yr vs 0.08%/yr for FIDU.

Performance

XLIP.L vs. FIDU - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco US Industrials Sector UCITS ETF (XLIP.L) and Fidelity MSCI Industrials Index ETF (FIDU). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

XLIP.L is traded in GBp, while FIDU is traded in USD. To make them comparable, the FIDU values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, XLIP.L achieves a 15.09% return, which is significantly lower than FIDU's 16.52% return. Over the past 10 years, XLIP.L has underperformed FIDU with an annualized return of 12.81%, while FIDU has yielded a comparatively higher 13.63% annualized return.

XLIP.L

• 1D: -1.37%
• 1M: 0.04%
• 6M: 9.59%
• YTD: 15.09%
• 1Y: 19.47%
• 3Y*: 18.60%
• 5Y*: 13.72%
• 10Y*: 12.81%

FIDU

• 1D: -1.15%
• 1M: -1.07%
• 6M: 8.56%
• YTD: 16.52%
• 1Y: 21.81%
• 3Y*: 18.85%
• 5Y*: 14.31%
• 10Y*: 13.63%

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

XLIP.L vs. FIDU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XLIP.L Invesco US Industrials Sector UCITS ETF	15.09%	11.11%	19.28%	11.56%	6.12%	22.08%	6.17%	24.82%	-9.69%	9.91%
FIDU Fidelity MSCI Industrials Index ETF	16.52%	10.16%	18.55%	16.49%	2.53%	22.11%	10.38%	25.72%	-8.74%	11.65%

Correlation

The correlation between XLIP.L and FIDU is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (10Y) Calculated over the trailing 10-year period	0.64
Correlation (All Time) Calculated using the full available price history since Jul 3, 2014	0.64

The correlation between XLIP.L and FIDU has been stable across timeframes, ranging from 0.63 to 0.71 - a consistent structural relationship.

XLIP.L vs. FIDU - Sectors Allocation Comparison

Sectors	XLIP.L	FIDU
Industrials	96.3%	89.4%
Technology	1.3%	3.8%
Consumer Cyclical	1.3%	1.1%
Real Estate	1.1%	0.0%
Basic Materials	-	0.7%
Communication Services	-	0.0%
Consumer Defensive	-	-
Energy	-	0.4%
Financial Services	-	0.0%
Healthcare	-	0.0%
Utilities	-	4.3%

Return for Risk

XLIP.L vs. FIDU — Risk / Return Rank

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

XLIP.L

XLIP.L Risk / Return Rank: 46
XLIP.L Sharpe Ratio Rank: 47
XLIP.L Sortino Ratio Rank: 46
XLIP.L Omega Ratio Rank: 42
XLIP.L Calmar Ratio Rank: 49
XLIP.L Martin Ratio Rank: 47

FIDU

FIDU Risk / Return Rank: 47
FIDU Sharpe Ratio Rank: 46
FIDU Sortino Ratio Rank: 46
FIDU Omega Ratio Rank: 42
FIDU Calmar Ratio Rank: 46
FIDU Martin Ratio Rank: 55

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.

XLIP.L vs. FIDU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco US Industrials Sector UCITS ETF (XLIP.L) and Fidelity MSCI Industrials Index ETF (FIDU). 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.

	XLIP.L	FIDU	Difference
Sharpe ratio: Return per unit of total volatility	1.36	1.28	+0.08
Sortino ratio: Return per unit of downside risk	1.95	1.83	+0.12
Omega ratio: Gain probability vs. loss probability	1.23	1.22	+0.01
Calmar ratio: Return relative to maximum drawdown	2.07	2.04	+0.03
Martin ratio: Return relative to average drawdown	6.45	6.99	-0.54

XLIP.L vs. FIDU - Sharpe Ratio Comparison

The current XLIP.L Sharpe Ratio is 1.36, which is comparable to the FIDU Sharpe Ratio of 1.28. The chart below compares the historical Sharpe Ratios of XLIP.L and FIDU, 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

XLIP.L vs. FIDU - Drawdown Comparison

The maximum XLIP.L drawdown since its inception was -34.56%, roughly equal to the maximum FIDU drawdown of -35.20%. Use the drawdown chart below to compare losses from any high point for XLIP.L and FIDU.

Drawdown Indicators

	XLIP.L	FIDU	Difference
Max Drawdown Largest peak-to-trough decline	-34.56%	-35.20%	+0.64%
Max Drawdown (1Y) Largest decline over 1 year	-9.38%	-10.76%	+1.38%
Max Drawdown (3Y) Largest decline over 3 years	-21.02%	-21.72%	+0.70%
Max Drawdown (5Y) Largest decline over 5 years	-21.02%	-21.72%	+0.70%
Max Drawdown (10Y) Largest decline over 10 years	-34.56%	-35.20%	+0.64%
Current Drawdown Current decline from peak	-4.58%	-5.53%	+0.95%
Average Drawdown Average peak-to-trough decline	-4.41%	-4.49%	+0.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.01%	3.13%	-0.12%

Volatility

XLIP.L vs. FIDU - Volatility Comparison

Invesco US Industrials Sector UCITS ETF (XLIP.L) and Fidelity MSCI Industrials Index ETF (FIDU) have volatilities of 5.36% and 5.41%, 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

	XLIP.L	FIDU	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.36%	5.41%	-0.05%
Volatility (6M) Calculated over the trailing 6-month period	11.58%	13.71%	-2.13%
Volatility (1Y) Calculated over the trailing 1-year period	14.26%	17.09%	-2.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.04%	17.56%	-1.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.31%	20.09%	-1.78%

XLIP.L vs. FIDU - Expense Ratio Comparison

XLIP.L has a 0.14% expense ratio, which is higher than FIDU's 0.08% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

XLIP.L vs. FIDU - Dividend Comparison

XLIP.L has not paid dividends to shareholders, while FIDU's dividend yield for the trailing twelve months is around 0.94%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIDU Fidelity MSCI Industrials Index ETF	0.94%	1.02%	1.42%	1.42%	1.48%	1.12%	1.28%	1.73%	1.99%	1.60%	1.63%	1.98%
XLIP.L Invesco US Industrials Sector UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XLIP.L and FIDU in my portfolio?

XLIP.L and FIDU have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XLIP.L or FIDU?

On fees, FIDU 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, XLIP.L or FIDU?

FIDU is cheaper with a 0.08% expense ratio, compared with 0.14% for XLIP.L.

What is the main difference between XLIP.L and FIDU?

XLIP.L tracks MSCI World/Materials NR USD, while FIDU tracks MSCI USA IMI Industrials Index. They also come from different issuers: Invesco and Fidelity. Their fees differ too: 0.14% for XLIP.L and 0.08% for FIDU.