XLIP.L vs. IUIS.L

Last updated Jun 5, 2026

XLIP.L (Invesco US Industrials Sector UCITS ETF) and IUIS.L (iShares S&P 500 Industrials Sector UCITS ETF USD (Acc)) are both exchange-traded funds - XLIP.L is a Industrials Equities fund tracking the MSCI World/Materials NR USD, while IUIS.L is a S&P 500 fund tracking the S&P 500 Capped 35/20 Industrials Index. Both are passively managed. Over the past 5 years, XLIP.L returned 13.40%/yr vs 13.41%/yr for IUIS.L. Their correlation of 0.94 suggests significant overlap in exposure. XLIP.L charges 0.14%/yr vs 0.15%/yr for IUIS.L.

Performance

XLIP.L vs. IUIS.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 iShares S&P 500 Industrials Sector UCITS ETF USD (Acc) (IUIS.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

The year-to-date returns for both investments are quite close, with XLIP.L having a 12.73% return and IUIS.L slightly higher at 13.03%.

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%

IUIS.L

• 1D: -0.10%
• 1M: 2.75%
• YTD: 13.03%
• 6M: 13.06%
• 1Y: 24.30%
• 3Y*: 18.84%
• 5Y*: 13.41%
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XLIP.L Invesco US Industrials Sector UCITS ETF	12.73%	11.11%	19.28%	11.56%	6.12%	22.08%	6.17%	24.82%	-9.41%	7.84%
IUIS.L iShares S&P 500 Industrials Sector UCITS ETF USD (Acc)	13.03%	10.75%	19.47%	12.03%	5.98%	21.86%	6.73%	23.62%	-9.08%	7.99%

Correlation

The correlation between XLIP.L and IUIS.L is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (All Time) Calculated using the full available price history since Mar 23, 2017	0.94

The correlation between XLIP.L and IUIS.L has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.

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

Sectors	XLIP.L	IUIS.L
Industrials	96.3%	90.1%
Technology	1.3%	3.7%
Consumer Cyclical	1.3%	0.5%
Real Estate	1.1%	-
Basic Materials	-	0.2%
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Utilities	-	5.3%

Return for Risk

XLIP.L vs. IUIS.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

IUIS.L

IUIS.L Risk / Return Rank: 47
IUIS.L Sharpe Ratio Rank: 46
IUIS.L Sortino Ratio Rank: 50
IUIS.L Omega Ratio Rank: 44
IUIS.L Calmar Ratio Rank: 45
IUIS.L Martin Ratio Rank: 51

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. IUIS.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 iShares S&P 500 Industrials Sector UCITS ETF USD (Acc) (IUIS.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	IUIS.L	Difference
Sharpe ratio: Return per unit of total volatility	1.83	1.66	+0.16
Sortino ratio: Return per unit of downside risk	2.57	2.32	+0.25
Omega ratio: Gain probability vs. loss probability	1.31	1.29	+0.03
Calmar ratio: Return relative to maximum drawdown	2.58	2.71	-0.13
Martin ratio: Return relative to average drawdown	8.25	8.38	-0.13
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. IUIS.L - Sharpe Ratio Comparison

The current XLIP.L Sharpe Ratio is 1.83, which is comparable to the IUIS.L Sharpe Ratio of 1.66. The chart below compares the historical Sharpe Ratios of XLIP.L and IUIS.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	IUIS.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.83	1.66	+0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.84	0.79	+0.05
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	0.61	+0.15

Drawdowns

XLIP.L vs. IUIS.L - Drawdown Comparison

The maximum XLIP.L drawdown since its inception was -34.56%, roughly equal to the maximum IUIS.L drawdown of -35.05%. Use the drawdown chart below to compare losses from any high point for XLIP.L and IUIS.L.

Drawdown Indicators

	XLIP.L	IUIS.L	Difference
Max Drawdown Largest peak-to-trough decline	-34.56%	-35.05%	+0.49%
Max Drawdown (1Y) Largest decline over 1 year	-9.38%	-8.92%	-0.46%
Max Drawdown (3Y) Largest decline over 3 years	-21.02%	-20.84%	-0.18%
Max Drawdown (5Y) Largest decline over 5 years	-21.02%	-20.84%	-0.18%
Max Drawdown (10Y) Largest decline over 10 years	-34.56%	—	—
Current Drawdown Current decline from peak	-1.36%	-0.94%	-0.42%
Average Drawdown Average peak-to-trough decline	-4.43%	-4.56%	+0.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.94%	2.89%	+0.05%

Volatility

XLIP.L vs. IUIS.L - Volatility Comparison

The current volatility for Invesco US Industrials Sector UCITS ETF (XLIP.L) is 4.52%, while iShares S&P 500 Industrials Sector UCITS ETF USD (Acc) (IUIS.L) has a volatility of 5.07%. This indicates that XLIP.L experiences smaller price fluctuations and is considered to be less risky than IUIS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XLIP.L	IUIS.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.52%	5.07%	-0.55%
Volatility (6M) Calculated over the trailing 6-month period	10.31%	11.74%	-1.43%
Volatility (1Y) Calculated over the trailing 1-year period	13.27%	14.55%	-1.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.91%	16.89%	-0.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.32%	19.29%	-0.97%

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

XLIP.L has a 0.14% expense ratio, which is lower than IUIS.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. IUIS.L - Dividend Comparison

Neither XLIP.L nor IUIS.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

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

With a correlation of 0.95, XLIP.L and IUIS.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, XLIP.L or IUIS.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 IUIS.L?

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

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

XLIP.L is categorized as Industrials Equities, while IUIS.L is S&P 500. XLIP.L tracks MSCI World/Materials NR USD, while IUIS.L tracks S&P 500 Capped 35/20 Industrials Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.14% for XLIP.L and 0.15% for IUIS.L.