XLKS.L vs. XLVS.L

Last updated Jul 18, 2026

XLKS.L (Invesco Technology S&P US Select Sector UCITS ETF Acc) and XLVS.L (Invesco Health Care S&P US Select Sector UCITS ETF Acc) are both exchange-traded funds - XLKS.L is a Technology Equities fund tracking the S&P® Select Sector Capped 20% Technology Index, while XLVS.L is a Health & Biotech Equities fund tracking the S&P® Select Sector Capped 20% Health Care Index. Both are passively managed. Over the past 10 years, XLKS.L returned 24.97%/yr vs 9.71%/yr for XLVS.L. A 0.53 correlation means they provide meaningful diversification when combined. Both charge a 0.14% expense ratio.

Performance

XLKS.L vs. XLVS.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 Acc (XLKS.L) and Invesco Health Care S&P US Select Sector UCITS ETF Acc (XLVS.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XLKS.L achieves a 14.77% return, which is significantly higher than XLVS.L's 5.16% return. Over the past 10 years, XLKS.L has outperformed XLVS.L with an annualized return of 24.97%, while XLVS.L has yielded a comparatively lower 9.71% annualized return.

XLKS.L

• 1D: -1.54%
• 1M: -4.09%
• 6M: 15.99%
• YTD: 14.77%
• 1Y: 28.26%
• 3Y*: 30.25%
• 5Y*: 21.57%
• 10Y*: 24.97%

XLVS.L

• 1D: 0.38%
• 1M: 7.03%
• 6M: 4.45%
• YTD: 5.16%
• 1Y: 23.65%
• 3Y*: 8.51%
• 5Y*: 6.17%
• 10Y*: 9.71%

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

XLKS.L vs. XLVS.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XLKS.L Invesco Technology S&P US Select Sector UCITS ETF Acc	14.77%	24.23%	41.72%	60.64%	-29.12%	34.73%	42.78%	48.83%	-2.51%	33.27%
XLVS.L Invesco Health Care S&P US Select Sector UCITS ETF Acc	5.16%	14.78%	2.15%	1.56%	-2.62%	27.57%	12.04%	20.54%	4.87%	21.27%

Correlation

The correlation between XLKS.L and XLVS.L is -0.10, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (5Y) Calculated over the trailing 5-year period	0.32
Correlation (10Y) Calculated over the trailing 10-year period	0.46
Correlation (All Time) Calculated using the full available price history since Dec 16, 2009	0.53

The correlation between XLKS.L and XLVS.L shifts across timeframes, from -0.10 (1 year) to 0.53 (all time), reflecting how their relationship changes across market environments.

XLKS.L vs. XLVS.L - Sectors Allocation Comparison

Sectors	XLKS.L	XLVS.L
Technology	91.2%	-
Financial Services	7.3%	-
Industrials	1.5%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	100.0%
Real Estate	-	-
Utilities	-	-

Return for Risk

XLKS.L vs. XLVS.L — Risk / Return Rank

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

XLKS.L

XLKS.L Risk / Return Rank: 42
XLKS.L Sharpe Ratio Rank: 45
XLKS.L Sortino Ratio Rank: 45
XLKS.L Omega Ratio Rank: 42
XLKS.L Calmar Ratio Rank: 40
XLKS.L Martin Ratio Rank: 36

XLVS.L

XLVS.L Risk / Return Rank: 56
XLVS.L Sharpe Ratio Rank: 58
XLVS.L Sortino Ratio Rank: 66
XLVS.L Omega Ratio Rank: 54
XLVS.L Calmar Ratio Rank: 58
XLVS.L Martin Ratio Rank: 44

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.

XLKS.L vs. XLVS.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 Acc (XLKS.L) and Invesco Health Care S&P US Select Sector UCITS ETF Acc (XLVS.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.

	XLKS.L	XLVS.L	Difference
Sharpe ratio: Return per unit of total volatility	1.28	1.50	-0.22
Sortino ratio: Return per unit of downside risk	1.85	2.34	-0.49
Omega ratio: Gain probability vs. loss probability	1.22	1.26	-0.04
Calmar ratio: Return relative to maximum drawdown	1.66	2.25	-0.60
Martin ratio: Return relative to average drawdown	4.45	5.53	-1.08

XLKS.L vs. XLVS.L - Sharpe Ratio Comparison

The current XLKS.L Sharpe Ratio is 1.28, which is comparable to the XLVS.L Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of XLKS.L and XLVS.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

XLKS.L vs. XLVS.L - Drawdown Comparison

The maximum XLKS.L drawdown since its inception was -34.26%, which is greater than XLVS.L's maximum drawdown of -26.88%. Use the drawdown chart below to compare losses from any high point for XLKS.L and XLVS.L.

Drawdown Indicators

	XLKS.L	XLVS.L	Difference
Max Drawdown Largest peak-to-trough decline	-34.26%	-26.88%	-7.38%
Max Drawdown (1Y) Largest decline over 1 year	-16.99%	-10.45%	-6.54%
Max Drawdown (3Y) Largest decline over 3 years	-26.97%	-17.56%	-9.41%
Max Drawdown (5Y) Largest decline over 5 years	-34.26%	-17.56%	-16.70%
Max Drawdown (10Y) Largest decline over 10 years	-34.26%	-26.88%	-7.38%
Current Drawdown Current decline from peak	-10.02%	-1.26%	-8.76%
Average Drawdown Average peak-to-trough decline	-5.14%	-4.51%	-0.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.34%	4.27%	+2.07%

Volatility

XLKS.L vs. XLVS.L - Volatility Comparison

Invesco Technology S&P US Select Sector UCITS ETF Acc (XLKS.L) has a higher volatility of 7.44% compared to Invesco Health Care S&P US Select Sector UCITS ETF Acc (XLVS.L) at 5.58%. This indicates that XLKS.L's price experiences larger fluctuations and is considered to be riskier than XLVS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XLKS.L	XLVS.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.44%	5.58%	+1.86%
Volatility (6M) Calculated over the trailing 6-month period	17.64%	11.74%	+5.90%
Volatility (1Y) Calculated over the trailing 1-year period	22.01%	15.69%	+6.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.14%	14.94%	+9.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.19%	15.58%	+6.61%

XLKS.L vs. XLVS.L - Expense Ratio Comparison

Both XLKS.L and XLVS.L have an expense ratio of 0.14%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

XLKS.L vs. XLVS.L - Dividend Comparison

Neither XLKS.L nor XLVS.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XLKS.L and XLVS.L in my portfolio?

XLKS.L and XLVS.L have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XLKS.L or XLVS.L?

Both ETFs have the same 0.14% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XLKS.L or XLVS.L?

XLKS.L and XLVS.L have the same expense ratio: 0.14% per year.

What is the main difference between XLKS.L and XLVS.L?

XLKS.L is categorized as Technology Equities, while XLVS.L is Health & Biotech Equities. XLKS.L tracks S&P® Select Sector Capped 20% Technology Index, while XLVS.L tracks S&P® Select Sector Capped 20% Health Care Index.