XLKQ.L vs. VUSA.L

Last updated Jul 21, 2026

XLKQ.L (Invesco Technology S&P US Select Sector UCITS ETF GBP Acc) and VUSA.L (Vanguard S&P 500 UCITS ETF) are both exchange-traded funds - XLKQ.L is a Technology Equities fund tracking the S&P Select Sector Capped 20% Technology Index, while VUSA.L is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, XLKQ.L returned 24.64%/yr vs 14.45%/yr for VUSA.L. Their correlation of 0.84 suggests significant overlap in exposure. XLKQ.L charges 0.14%/yr vs 0.07%/yr for VUSA.L.

Performance

XLKQ.L vs. VUSA.L - 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 Vanguard S&P 500 UCITS ETF (VUSA.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

XLKQ.L is traded in GBp, while VUSA.L is traded in GBP. To make them comparable, the VUSA.L 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 16.15% return, which is significantly higher than VUSA.L's 9.45% return. Over the past 10 years, XLKQ.L has outperformed VUSA.L with an annualized return of 24.64%, while VUSA.L has yielded a comparatively lower 14.45% annualized return.

XLKQ.L

• 1D: 1.18%
• 1M: -5.66%
• 6M: 19.21%
• YTD: 16.15%
• 1Y: 29.95%
• 3Y*: 28.96%
• 5Y*: 22.20%
• 10Y*: 24.64%
• ALL TIME*: 17.82%

VUSA.L

• 1D: 0.36%
• 1M: -1.56%
• 6M: 9.55%
• YTD: 9.45%
• 1Y: 20.18%
• 3Y*: 17.62%
• 5Y*: 13.22%
• 10Y*: 14.45%
• ALL TIME*: 16.14%

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

XLKQ.L vs. VUSA.L - 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	16.15%	15.76%	44.03%	51.84%	-20.58%	36.28%	37.93%	44.38%	2.54%	21.82%
VUSA.L Vanguard S&P 500 UCITS ETF	9.45%	9.39%	27.33%	19.82%	-9.02%	30.97%	13.65%	26.53%	-0.10%	10.72%

Correlation

The correlation between XLKQ.L and VUSA.L is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since May 22, 2012	0.84

The correlation between XLKQ.L and VUSA.L has been stable across timeframes, ranging from 0.84 to 0.87 - a consistent structural relationship.

XLKQ.L vs. VUSA.L - Sectors Allocation Comparison

Sectors	XLKQ.L	VUSA.L
Technology	91.2%	38.6%
Financial Services	7.3%	11.4%
Industrials	1.5%	8.5%
Basic Materials	-	1.7%
Communication Services	-	9.9%
Consumer Cyclical	-	9.5%
Consumer Defensive	-	4.5%
Energy	-	3.0%
Healthcare	-	8.9%
Real Estate	-	1.8%
Utilities	-	2.2%

Return for Risk

XLKQ.L vs. VUSA.L — 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: 48
XLKQ.L Sharpe Ratio Rank: 56
XLKQ.L Sortino Ratio Rank: 52
XLKQ.L Omega Ratio Rank: 51
XLKQ.L Calmar Ratio Rank: 46
XLKQ.L Martin Ratio Rank: 38

VUSA.L

VUSA.L Risk / Return Rank: 76
VUSA.L Sharpe Ratio Rank: 77
VUSA.L Sortino Ratio Rank: 75
VUSA.L Omega Ratio Rank: 77
VUSA.L Calmar Ratio Rank: 75
VUSA.L Martin Ratio Rank: 75

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. VUSA.L - 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 Vanguard S&P 500 UCITS ETF (VUSA.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.

	XLKQ.L	VUSA.L	Difference
Sharpe ratio: Return per unit of total volatility	1.42	1.85	-0.43
Sortino ratio: Return per unit of downside risk	1.95	2.54	-0.59
Omega ratio: Gain probability vs. loss probability	1.24	1.34	-0.09
Calmar ratio: Return relative to maximum drawdown	1.78	2.83	-1.05
Martin ratio: Return relative to average drawdown	4.31	10.12	-5.82

XLKQ.L vs. VUSA.L - Sharpe Ratio Comparison

The current XLKQ.L Sharpe Ratio is 1.42, which is comparable to the VUSA.L Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of XLKQ.L and VUSA.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

XLKQ.L vs. VUSA.L - Drawdown Comparison

The maximum XLKQ.L drawdown since its inception was -38.43%, which is greater than VUSA.L's maximum drawdown of -25.48%. Use the drawdown chart below to compare losses from any high point for XLKQ.L and VUSA.L.

Drawdown Indicators

	XLKQ.L	VUSA.L	Difference
Max Drawdown Largest peak-to-trough decline	-38.43%	-25.48%	-12.95%
Max Drawdown (1Y) Largest decline over 1 year	-16.76%	-7.10%	-9.66%
Max Drawdown (3Y) Largest decline over 3 years	-28.74%	-20.93%	-7.81%
Max Drawdown (5Y) Largest decline over 5 years	-28.74%	-20.93%	-7.81%
Max Drawdown (10Y) Largest decline over 10 years	-28.74%	-25.48%	-3.26%
Current Drawdown Current decline from peak	-8.84%	-1.56%	-7.28%
Average Drawdown Average peak-to-trough decline	-8.07%	-3.14%	-4.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.94%	1.99%	+4.95%

Volatility

XLKQ.L vs. VUSA.L - Volatility Comparison

Invesco Technology S&P US Select Sector UCITS ETF GBP Acc (XLKQ.L) has a higher volatility of 7.37% compared to Vanguard S&P 500 UCITS ETF (VUSA.L) at 2.97%. This indicates that XLKQ.L's price experiences larger fluctuations and is considered to be riskier than VUSA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XLKQ.L	VUSA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.37%	2.97%	+4.40%
Volatility (6M) Calculated over the trailing 6-month period	16.30%	7.59%	+8.71%
Volatility (1Y) Calculated over the trailing 1-year period	21.11%	10.90%	+10.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.43%	14.35%	+12.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.46%	15.52%	+7.94%

XLKQ.L vs. VUSA.L - Expense Ratio Comparison

XLKQ.L has a 0.14% expense ratio, which is higher than VUSA.L's 0.07% 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

XLKQ.L vs. VUSA.L - Dividend Comparison

XLKQ.L has not paid dividends to shareholders, while VUSA.L's dividend yield for the trailing twelve months is around 0.89%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VUSA.L Vanguard S&P 500 UCITS ETF	0.89%	0.95%	1.00%	1.24%	1.41%	1.04%	1.44%	1.50%	1.72%	1.61%	1.58%	1.74%
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 VUSA.L in my portfolio?

XLKQ.L and VUSA.L have a correlation of 0.85, 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 VUSA.L?

On fees, VUSA.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XLKQ.L or VUSA.L?

VUSA.L is cheaper with a 0.07% expense ratio, compared with 0.14% for XLKQ.L.

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

XLKQ.L is categorized as Technology Equities, while VUSA.L is S&P 500. XLKQ.L tracks S&P Select Sector Capped 20% Technology Index, while VUSA.L tracks S&P 500 Index. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.14% for XLKQ.L and 0.07% for VUSA.L.