XLIP.L vs. FTWG.L

Last updated Jun 5, 2026

XLIP.L (Invesco US Industrials Sector UCITS ETF) and FTWG.L (Invesco FTSE All-World UCITS ETF USD Dist) are both exchange-traded funds - XLIP.L is a Industrials Equities fund tracking the MSCI World/Materials NR USD, while FTWG.L is a Global Equities fund tracking the FTSE All-World Index. Both are passively managed. Over the past year, XLIP.L returned 24.34% vs 30.16% for FTWG.L. A 0.72 correlation means they provide meaningful diversification when combined. XLIP.L charges 0.14%/yr vs 0.15%/yr for FTWG.L.

Performance

XLIP.L vs. FTWG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco US Industrials Sector UCITS ETF (XLIP.L) and Invesco FTSE All-World UCITS ETF USD Dist (FTWG.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XLIP.L achieves a 12.73% return, which is significantly higher than FTWG.L's 11.87% return.

XLIP.L

• 1D: -0.12%
• 1M: 2.60%
• YTD: 12.73%
• 6M: 13.06%
• 1Y: 24.34%
• 3Y*: 18.78%
• 5Y*: 13.40%
• 10Y*: 14.13%

FTWG.L

• 1D: -0.03%
• 1M: 5.38%
• YTD: 11.87%
• 6M: 12.43%
• 1Y: 30.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XLIP.L vs. FTWG.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
XLIP.L Invesco US Industrials Sector UCITS ETF	12.73%	11.11%	19.28%	7.54%
FTWG.L Invesco FTSE All-World UCITS ETF USD Dist	11.87%	14.12%	19.92%	7.22%

Correlation

The correlation between XLIP.L and FTWG.L is 0.67, 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	0.67
Correlation (All Time) Calculated using the full available price history since Jun 30, 2023	0.72

The correlation between XLIP.L and FTWG.L has been stable across timeframes, ranging from 0.67 to 0.72 - a consistent structural relationship.

XLIP.L vs. FTWG.L - Sectors Allocation Comparison

Sectors	XLIP.L	FTWG.L
Industrials	96.3%	11.0%
Technology	1.3%	29.1%
Consumer Cyclical	1.3%	9.4%
Real Estate	1.1%	1.9%
Basic Materials	-	3.9%
Communication Services	-	8.9%
Consumer Defensive	-	5.0%
Energy	-	4.3%
Financial Services	-	16.4%
Healthcare	-	7.6%
Utilities	-	2.6%

Return for Risk

XLIP.L vs. FTWG.L — 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: 52
XLIP.L Sharpe Ratio Rank: 55
XLIP.L Sortino Ratio Rank: 54
XLIP.L Omega Ratio Rank: 52
XLIP.L Calmar Ratio Rank: 53
XLIP.L Martin Ratio Rank: 49

FTWG.L

FTWG.L Risk / Return Rank: 86
FTWG.L Sharpe Ratio Rank: 88
FTWG.L Sortino Ratio Rank: 88
FTWG.L Omega Ratio Rank: 89
FTWG.L Calmar Ratio Rank: 81
FTWG.L Martin Ratio Rank: 84

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. FTWG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco US Industrials Sector UCITS ETF (XLIP.L) and Invesco FTSE All-World UCITS ETF USD Dist (FTWG.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.

	XLIP.L	FTWG.L	Difference
Sharpe ratio: Return per unit of total volatility	1.83	2.92	-1.09
Sortino ratio: Return per unit of downside risk	2.57	4.01	-1.44
Omega ratio: Gain probability vs. loss probability	1.31	1.56	-0.24
Calmar ratio: Return relative to maximum drawdown	2.58	4.23	-1.64
Martin ratio: Return relative to average drawdown	8.25	17.22	-8.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XLIP.L vs. FTWG.L - Sharpe Ratio Comparison

The current XLIP.L Sharpe Ratio is 1.83, which is lower than the FTWG.L Sharpe Ratio of 2.92. The chart below compares the historical Sharpe Ratios of XLIP.L and FTWG.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

	XLIP.L	FTWG.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.83	2.92	-1.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.84	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.77	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.77	1.55	-0.78

Drawdowns

XLIP.L vs. FTWG.L - Drawdown Comparison

The maximum XLIP.L drawdown since its inception was -34.56%, which is greater than FTWG.L's maximum drawdown of -17.78%. Use the drawdown chart below to compare losses from any high point for XLIP.L and FTWG.L.

Drawdown Indicators

	XLIP.L	FTWG.L	Difference
Max Drawdown Largest peak-to-trough decline	-34.56%	-17.78%	-16.78%
Max Drawdown (1Y) Largest decline over 1 year	-9.38%	-7.11%	-2.27%
Max Drawdown (3Y) Largest decline over 3 years	-21.02%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.02%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-34.56%	—	—
Current Drawdown Current decline from peak	-1.36%	-0.42%	-0.94%
Average Drawdown Average peak-to-trough decline	-4.43%	-1.99%	-2.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.94%	1.75%	+1.19%

Volatility

XLIP.L vs. FTWG.L - Volatility Comparison

Invesco US Industrials Sector UCITS ETF (XLIP.L) has a higher volatility of 4.52% compared to Invesco FTSE All-World UCITS ETF USD Dist (FTWG.L) at 3.04%. This indicates that XLIP.L's price experiences larger fluctuations and is considered to be riskier than FTWG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XLIP.L	FTWG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.52%	3.04%	+1.48%
Volatility (6M) Calculated over the trailing 6-month period	10.31%	7.59%	+2.72%
Volatility (1Y) Calculated over the trailing 1-year period	13.27%	10.28%	+2.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.91%	11.89%	+4.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.32%	11.89%	+6.43%

XLIP.L vs. FTWG.L - Expense Ratio Comparison

XLIP.L has a 0.14% expense ratio, which is lower than FTWG.L's 0.15% 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

XLIP.L vs. FTWG.L - Dividend Comparison

XLIP.L has not paid dividends to shareholders, while FTWG.L's dividend yield for the trailing twelve months is around 1.22%.

Position	TTM	2025	2024	2023
FTWG.L Invesco FTSE All-World UCITS ETF USD Dist	1.22%	1.34%	1.50%	0.70%
XLIP.L Invesco US Industrials Sector UCITS ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

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

XLIP.L and FTWG.L have a correlation of 0.67, 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 FTWG.L?

On fees, XLIP.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, XLIP.L or FTWG.L?

XLIP.L is cheaper with a 0.14% expense ratio, compared with 0.15% for FTWG.L.

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

XLIP.L is categorized as Industrials Equities, while FTWG.L is Global Equities. XLIP.L tracks MSCI World/Materials NR USD, while FTWG.L tracks FTSE All-World Index. Their fees differ too: 0.14% for XLIP.L and 0.15% for FTWG.L.