XLKQ.L vs. HAP

Last updated Jun 5, 2026

XLKQ.L (Invesco Technology S&P US Select Sector UCITS ETF GBP Acc) and HAP (VanEck Natural Resources ETF) are both exchange-traded funds - XLKQ.L is a Technology Equities fund tracking the S&P Select Sector Capped 20% Technology Index, while HAP is a Energy Equities fund tracking the MarketVector Global Natural Resources Index. Both are passively managed. Over the past 10 years, XLKQ.L returned 27.22%/yr vs 12.30%/yr for HAP. At a 0.27 correlation, their price movements are largely independent. XLKQ.L charges 0.14%/yr vs 0.42%/yr for HAP.

Performance

XLKQ.L vs. HAP - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco Technology S&P US Select Sector UCITS ETF GBP Acc (XLKQ.L) and VanEck Natural Resources ETF (HAP). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, XLKQ.L achieves a 23.81% return, which is significantly higher than HAP's 18.57% return. Over the past 10 years, XLKQ.L has outperformed HAP with an annualized return of 27.22%, while HAP has yielded a comparatively lower 12.30% annualized return.

XLKQ.L

• 1D: -2.23%
• 1M: 12.27%
• YTD: 23.81%
• 6M: 21.73%
• 1Y: 53.44%
• 3Y*: 33.18%
• 5Y*: 26.60%
• 10Y*: 27.22%

HAP

• 1D: -2.79%
• 1M: -2.27%
• YTD: 18.57%
• 6M: 19.84%
• 1Y: 43.94%
• 3Y*: 14.64%
• 5Y*: 12.07%
• 10Y*: 12.30%

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

XLKQ.L vs. HAP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XLKQ.L Invesco Technology S&P US Select Sector UCITS ETF GBP Acc	23.81%	15.76%	44.03%	51.84%	-20.58%	36.28%	37.93%	44.63%	0.92%	23.56%
HAP VanEck Natural Resources ETF	18.57%	25.30%	-2.41%	-2.66%	20.66%	26.23%	3.17%	14.09%	-5.38%	6.99%

Correlation

The correlation between XLKQ.L and HAP is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.03
Correlation (3Y) Calculated over the trailing 3-year period	0.06
Correlation (5Y) Calculated over the trailing 5-year period	0.14
Correlation (10Y) Calculated over the trailing 10-year period	0.27
Correlation (All Time) Calculated using the full available price history since Jul 9, 2014	0.27

Over the past year, the correlation between XLKQ.L and HAP has dropped to 0.03 - well below their long-term average of 0.27, suggesting their price drivers have been diverging.

XLKQ.L vs. HAP - Sectors Allocation Comparison

Sectors	XLKQ.L	HAP
Technology	91.2%	0.9%
Financial Services	7.3%	-
Industrials	1.5%	10.2%
Basic Materials	-	36.7%
Communication Services	-	-
Consumer Cyclical	-	0.2%
Consumer Defensive	-	6.5%
Energy	-	32.3%
Healthcare	-	2.8%
Real Estate	-	0.4%
Utilities	-	9.8%

Return for Risk

XLKQ.L vs. HAP — Risk / Return Rank

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

XLKQ.L

XLKQ.L Risk / Return Rank: 73
XLKQ.L Sharpe Ratio Rank: 86
XLKQ.L Sortino Ratio Rank: 81
XLKQ.L Omega Ratio Rank: 78
XLKQ.L Calmar Ratio Rank: 66
XLKQ.L Martin Ratio Rank: 51

HAP

HAP Risk / Return Rank: 86
HAP Sharpe Ratio Rank: 86
HAP Sortino Ratio Rank: 80
HAP Omega Ratio Rank: 84
HAP Calmar Ratio Rank: 88
HAP Martin Ratio Rank: 90

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.

XLKQ.L vs. HAP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Technology S&P US Select Sector UCITS ETF GBP Acc (XLKQ.L) and VanEck Natural Resources ETF (HAP). 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.

	XLKQ.L	HAP	Difference
Sharpe ratio: Return per unit of total volatility	2.83	3.14	-0.31
Sortino ratio: Return per unit of downside risk	3.59	4.10	-0.50
Omega ratio: Gain probability vs. loss probability	1.46	1.56	-0.10
Calmar ratio: Return relative to maximum drawdown	3.24	5.60	-2.36
Martin ratio: Return relative to average drawdown	8.42	21.95	-13.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XLKQ.L vs. HAP - Sharpe Ratio Comparison

The current XLKQ.L Sharpe Ratio is 2.83, which is comparable to the HAP Sharpe Ratio of 3.14. The chart below compares the historical Sharpe Ratios of XLKQ.L and HAP, 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

	XLKQ.L	HAP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.83	3.14	-0.31
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.21	0.75	+0.45
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.33	0.66	+0.66
Sharpe Ratio (All Time) Calculated using the full available price history	1.33	0.36	+0.97

Drawdowns

XLKQ.L vs. HAP - Drawdown Comparison

The maximum XLKQ.L drawdown since its inception was -28.74%, smaller than the maximum HAP drawdown of -41.19%. Use the drawdown chart below to compare losses from any high point for XLKQ.L and HAP.

Drawdown Indicators

	XLKQ.L	HAP	Difference
Max Drawdown Largest peak-to-trough decline	-28.74%	-41.19%	+12.45%
Max Drawdown (1Y) Largest decline over 1 year	-16.76%	-7.89%	-8.87%
Max Drawdown (3Y) Largest decline over 3 years	-28.74%	-17.35%	-11.39%
Max Drawdown (5Y) Largest decline over 5 years	-28.74%	-17.63%	-11.11%
Max Drawdown (10Y) Largest decline over 10 years	-28.74%	-37.73%	+8.99%
Current Drawdown Current decline from peak	-2.84%	-4.65%	+1.81%
Average Drawdown Average peak-to-trough decline	-5.04%	-8.44%	+3.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.45%	2.01%	+4.44%

Volatility

XLKQ.L vs. HAP - Volatility Comparison

Invesco Technology S&P US Select Sector UCITS ETF GBP Acc (XLKQ.L) has a higher volatility of 6.83% compared to VanEck Natural Resources ETF (HAP) at 4.85%. This indicates that XLKQ.L's price experiences larger fluctuations and is considered to be riskier than HAP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XLKQ.L	HAP	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.83%	4.85%	+1.98%
Volatility (6M) Calculated over the trailing 6-month period	14.29%	11.41%	+2.88%
Volatility (1Y) Calculated over the trailing 1-year period	19.18%	14.07%	+5.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.04%	16.06%	+5.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.65%	18.56%	+3.09%

XLKQ.L vs. HAP - Expense Ratio Comparison

XLKQ.L has a 0.14% expense ratio, which is lower than HAP's 0.42% expense ratio.

Dividends

XLKQ.L vs. HAP - Dividend Comparison

XLKQ.L has not paid dividends to shareholders, while HAP's dividend yield for the trailing twelve months is around 1.93%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HAP VanEck Natural Resources ETF	1.93%	2.27%	2.65%	3.27%	3.28%	2.16%	2.45%	2.80%	2.85%	2.02%	1.99%	3.00%
XLKQ.L Invesco Technology S&P US Select Sector UCITS ETF GBP 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%

Frequently Asked Questions

Can I hold both XLKQ.L and HAP in my portfolio?

XLKQ.L and HAP have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XLKQ.L or HAP?

On fees, XLKQ.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, XLKQ.L or HAP?

XLKQ.L is cheaper with a 0.14% expense ratio, compared with 0.42% for HAP.

What is the main difference between XLKQ.L and HAP?

XLKQ.L is categorized as Technology Equities, while HAP is Energy Equities. XLKQ.L tracks S&P Select Sector Capped 20% Technology Index, while HAP tracks MarketVector Global Natural Resources Index. They also come from different issuers: Invesco and VanEck. Their fees differ too: 0.14% for XLKQ.L and 0.42% for HAP.