XLUP.L vs. FUQA.L

Last updated Jun 5, 2026

XLUP.L (Invesco US Utilities Sector UCITS ETF) and FUQA.L (Fidelity US Quality Income ETF Acc) are both exchange-traded funds - XLUP.L is a Utilities Equities fund tracking the MSCI World/Utilities NR USD, while FUQA.L is a Large Cap Blend Equities fund tracking the Fidelity US Quality Income Index. Both are passively managed. Over the past 5 years, XLUP.L returned 9.57%/yr vs 12.92%/yr for FUQA.L. At a 0.40 correlation, their price movements are largely independent. XLUP.L charges 0.14%/yr vs 0.25%/yr for FUQA.L.

Performance

XLUP.L vs. FUQA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco US Utilities Sector UCITS ETF (XLUP.L) and Fidelity US Quality Income ETF Acc (FUQA.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XLUP.L achieves a 1.53% return, which is significantly lower than FUQA.L's 8.88% return.

XLUP.L

• 1D: -2.12%
• 1M: -5.97%
• YTD: 1.53%
• 6M: -0.68%
• 1Y: 9.53%
• 3Y*: 9.71%
• 5Y*: 9.57%
• 10Y*: 9.27%

FUQA.L

• 1D: 0.02%
• 1M: 4.29%
• YTD: 8.88%
• 6M: 8.31%
• 1Y: 24.89%
• 3Y*: 14.90%
• 5Y*: 12.92%
• 10Y*: —

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

XLUP.L vs. FUQA.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XLUP.L Invesco US Utilities Sector UCITS ETF	1.53%	8.12%	24.62%	-13.04%	13.97%	20.12%	-4.75%	21.36%	8.83%	-2.75%
FUQA.L Fidelity US Quality Income ETF Acc	8.88%	7.90%	19.50%	11.85%	-0.00%	27.82%	8.23%	27.23%	1.10%	7.11%

Correlation

The correlation between XLUP.L and FUQA.L is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.29
Correlation (5Y) Calculated over the trailing 5-year period	0.38
Correlation (All Time) Calculated using the full available price history since Apr 4, 2017	0.40

Over the past year, the correlation between XLUP.L and FUQA.L has dropped to 0.14 - well below their long-term average of 0.40, suggesting their price drivers have been diverging.

XLUP.L vs. FUQA.L - Sectors Allocation Comparison

Sectors	XLUP.L	FUQA.L
Utilities	100.0%	2.1%
Basic Materials	-	2.2%
Communication Services	-	10.3%
Consumer Cyclical	-	9.1%
Consumer Defensive	-	4.4%
Energy	-	3.3%
Financial Services	-	12.1%
Healthcare	-	9.0%
Industrials	-	8.6%
Real Estate	-	2.1%
Technology	-	36.9%

Return for Risk

XLUP.L vs. FUQA.L — Risk / Return Rank

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

XLUP.L

XLUP.L Risk / Return Rank: 20
XLUP.L Sharpe Ratio Rank: 20
XLUP.L Sortino Ratio Rank: 19
XLUP.L Omega Ratio Rank: 19
XLUP.L Calmar Ratio Rank: 22
XLUP.L Martin Ratio Rank: 19

FUQA.L

FUQA.L Risk / Return Rank: 76
FUQA.L Sharpe Ratio Rank: 76
FUQA.L Sortino Ratio Rank: 74
FUQA.L Omega Ratio Rank: 77
FUQA.L Calmar Ratio Rank: 72
FUQA.L Martin Ratio Rank: 82

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.

XLUP.L vs. FUQA.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco US Utilities Sector UCITS ETF (XLUP.L) and Fidelity US Quality Income ETF Acc (FUQA.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.

	XLUP.L	FUQA.L	Difference
Sharpe ratio: Return per unit of total volatility	0.65	2.43	-1.78
Sortino ratio: Return per unit of downside risk	0.98	3.27	-2.29
Omega ratio: Gain probability vs. loss probability	1.12	1.45	-0.33
Calmar ratio: Return relative to maximum drawdown	1.01	3.57	-2.55
Martin ratio: Return relative to average drawdown	2.13	16.10	-13.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XLUP.L vs. FUQA.L - Sharpe Ratio Comparison

The current XLUP.L Sharpe Ratio is 0.65, which is lower than the FUQA.L Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of XLUP.L and FUQA.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

	XLUP.L	FUQA.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.65	2.43	-1.78
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.57	0.97	-0.40
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.60	0.92	-0.33

Drawdowns

XLUP.L vs. FUQA.L - Drawdown Comparison

The maximum XLUP.L drawdown since its inception was -29.94%, which is greater than FUQA.L's maximum drawdown of -27.34%. Use the drawdown chart below to compare losses from any high point for XLUP.L and FUQA.L.

Drawdown Indicators

	XLUP.L	FUQA.L	Difference
Max Drawdown Largest peak-to-trough decline	-29.94%	-27.34%	-2.60%
Max Drawdown (1Y) Largest decline over 1 year	-9.35%	-6.95%	-2.40%
Max Drawdown (3Y) Largest decline over 3 years	-13.80%	-18.99%	+5.19%
Max Drawdown (5Y) Largest decline over 5 years	-29.94%	-18.99%	-10.95%
Max Drawdown (10Y) Largest decline over 10 years	-29.94%	—	—
Current Drawdown Current decline from peak	-9.00%	0.00%	-9.00%
Average Drawdown Average peak-to-trough decline	-8.16%	-3.19%	-4.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.46%	1.54%	+2.92%

Volatility

XLUP.L vs. FUQA.L - Volatility Comparison

Invesco US Utilities Sector UCITS ETF (XLUP.L) has a higher volatility of 5.29% compared to Fidelity US Quality Income ETF Acc (FUQA.L) at 2.27%. This indicates that XLUP.L's price experiences larger fluctuations and is considered to be riskier than FUQA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XLUP.L	FUQA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.29%	2.27%	+3.02%
Volatility (6M) Calculated over the trailing 6-month period	12.13%	7.26%	+4.87%
Volatility (1Y) Calculated over the trailing 1-year period	14.65%	10.20%	+4.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.67%	13.30%	+3.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.34%	16.29%	+2.05%

XLUP.L vs. FUQA.L - Expense Ratio Comparison

XLUP.L has a 0.14% expense ratio, which is lower than FUQA.L's 0.25% 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

XLUP.L vs. FUQA.L - Dividend Comparison

Neither XLUP.L nor FUQA.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XLUP.L and FUQA.L in my portfolio?

XLUP.L and FUQA.L have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XLUP.L or FUQA.L?

On fees, XLUP.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, XLUP.L or FUQA.L?

XLUP.L is cheaper with a 0.14% expense ratio, compared with 0.25% for FUQA.L.

What is the main difference between XLUP.L and FUQA.L?

XLUP.L is categorized as Utilities Equities, while FUQA.L is Large Cap Blend Equities. XLUP.L tracks MSCI World/Utilities NR USD, while FUQA.L tracks Fidelity US Quality Income Index. They also come from different issuers: Invesco and Fidelity. Their fees differ too: 0.14% for XLUP.L and 0.25% for FUQA.L.