XLKQ.L vs. WTCH.AS
XLKQ.L (Invesco Technology S&P US Select Sector UCITS ETF GBP Acc) and WTCH.AS (SPDR MSCI World Technology UCITS ETF) are both Technology Equities funds - XLKQ.L tracks the S&P Select Sector Capped 20% Technology Index while WTCH.AS tracks the MSCI World/Information Tech NR USD. Both are passively managed. Over the past 10 years, XLKQ.L returned 26.77%/yr vs 25.18%/yr for WTCH.AS. Their correlation of 0.93 suggests significant overlap in exposure. XLKQ.L charges 0.14%/yr vs 0.30%/yr for WTCH.AS.
Performance
XLKQ.L vs. WTCH.AS - Performance Comparison
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Different Trading Currencies
XLKQ.L is traded in GBp, while WTCH.AS is traded in EUR. To make them comparable, the WTCH.AS 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 20.44% return, which is significantly lower than WTCH.AS's 24.46% return. Over the past 10 years, XLKQ.L has outperformed WTCH.AS with an annualized return of 26.77%, while WTCH.AS has yielded a comparatively lower 25.18% annualized return.
XLKQ.L
- 1D
- -0.03%
- 1M
- 6.65%
- YTD
- 20.44%
- 6M
- 17.20%
- 1Y
- 49.26%
- 3Y*
- 32.80%
- 5Y*
- 25.71%
- 10Y*
- 26.77%
WTCH.AS
- 1D
- -1.87%
- 1M
- 10.19%
- YTD
- 24.46%
- 6M
- 21.07%
- 1Y
- 51.62%
- 3Y*
- 29.42%
- 5Y*
- 22.65%
- 10Y*
- 25.18%
XLKQ.L vs. WTCH.AS - 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 | 20.44% | 15.76% | 44.03% | 51.84% | -20.58% | 36.28% | 37.93% | 44.38% | 2.54% | 21.82% |
WTCH.AS SPDR MSCI World Technology UCITS ETF | 24.46% | 14.21% | 36.87% | 46.11% | -23.93% | 32.52% | 39.24% | 40.95% | 2.92% | 26.44% |
Correlation
The correlation between XLKQ.L and WTCH.AS is 0.96 - 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 | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since May 5, 2016 | 0.93 |
The correlation between XLKQ.L and WTCH.AS has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.
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Return for Risk
XLKQ.L vs. WTCH.AS — Risk / Return Rank
XLKQ.L
WTCH.AS
XLKQ.L vs. WTCH.AS - 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 SPDR MSCI World Technology UCITS ETF (WTCH.AS). 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 | WTCH.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.43 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.93 | 3.14 | -0.22 |
| Martin ratioReturn relative to average drawdown | 7.59 | 8.11 | -0.52 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XLKQ.L | WTCH.AS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.53 | 2.61 | -0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.98 | 1.01 | -0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.14 | 1.18 | -0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.80 | 1.21 | -0.40 |
Drawdowns
XLKQ.L vs. WTCH.AS - Drawdown Comparison
The maximum XLKQ.L drawdown since its inception was -38.43%, which is greater than WTCH.AS's maximum drawdown of -28.40%. Use the drawdown chart below to compare losses from any high point for XLKQ.L and WTCH.AS.
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Drawdown Indicators
| XLKQ.L | WTCH.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.43% | -28.40% | -10.03% |
Max Drawdown (1Y)Largest decline over 1 year | -16.76% | -16.51% | -0.25% |
Max Drawdown (3Y)Largest decline over 3 years | -28.74% | -28.40% | -0.34% |
Max Drawdown (5Y)Largest decline over 5 years | -28.74% | -28.40% | -0.34% |
Max Drawdown (10Y)Largest decline over 10 years | -28.74% | -28.40% | -0.34% |
Current DrawdownCurrent decline from peak | -5.48% | -2.31% | -3.17% |
Average DrawdownAverage peak-to-trough decline | -8.08% | -5.65% | -2.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.47% | 6.43% | +0.04% |
Volatility
XLKQ.L vs. WTCH.AS - Volatility Comparison
Invesco Technology S&P US Select Sector UCITS ETF GBP Acc (XLKQ.L) and SPDR MSCI World Technology UCITS ETF (WTCH.AS) have volatilities of 7.40% and 7.18%, 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.
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Volatility by Period
| XLKQ.L | WTCH.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.40% | 7.18% | +0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 14.52% | 14.59% | -0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.43% | 19.86% | -0.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.15% | 21.94% | +4.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.38% | 21.24% | +2.14% |
XLKQ.L vs. WTCH.AS - Expense Ratio Comparison
XLKQ.L has a 0.14% expense ratio, which is lower than WTCH.AS's 0.30% expense ratio.
Dividends
XLKQ.L vs. WTCH.AS - Dividend Comparison
Neither XLKQ.L nor WTCH.AS has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.96, XLKQ.L and WTCH.AS 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.
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.
XLKQ.L is cheaper with a 0.14% expense ratio, compared with 0.30% for WTCH.AS.
XLKQ.L tracks S&P Select Sector Capped 20% Technology Index, while WTCH.AS tracks MSCI World/Information Tech NR USD. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.14% for XLKQ.L and 0.30% for WTCH.AS.
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