XLUS.L vs. XLKS.L

Last updated Jul 16, 2026

XLUS.L (Invesco Utilities S&P US Select Sector UCITS ETF Acc) and XLKS.L (Invesco Technology S&P US Select Sector UCITS ETF Acc) are both exchange-traded funds - XLUS.L is a Utilities Equities fund tracking the S&P® Select Sector Capped 20% Utilities Index, while XLKS.L is a Technology Equities fund tracking the S&P® Select Sector Capped 20% Technology Index. Both are passively managed. Over the past 10 years, XLUS.L returned 8.62%/yr vs 25.36%/yr for XLKS.L. At a 0.26 correlation, their price movements are largely independent. Both charge a 0.14% expense ratio.

Performance

XLUS.L vs. XLKS.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Utilities S&P US Select Sector UCITS ETF Acc (XLUS.L) and Invesco Technology S&P US Select Sector UCITS ETF Acc (XLKS.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XLUS.L achieves a 7.65% return, which is significantly lower than XLKS.L's 17.68% return. Over the past 10 years, XLUS.L has underperformed XLKS.L with an annualized return of 8.62%, while XLKS.L has yielded a comparatively higher 25.36% annualized return.

XLUS.L

• 1D: -0.25%
• 1M: 3.00%
• 6M: 7.59%
• YTD: 7.65%
• 1Y: 14.51%
• 3Y*: 13.85%
• 5Y*: 9.36%
• 10Y*: 8.62%

XLKS.L

• 1D: -0.94%
• 1M: -2.87%
• 6M: 20.28%
• YTD: 17.68%
• 1Y: 32.56%
• 3Y*: 31.32%
• 5Y*: 22.18%
• 10Y*: 25.36%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XLUS.L Invesco Utilities S&P US Select Sector UCITS ETF Acc	7.65%	15.68%	22.50%	-7.74%	1.91%	18.46%	-1.37%	25.26%	2.91%	10.83%
XLKS.L Invesco Technology S&P US Select Sector UCITS ETF Acc	17.68%	24.23%	41.72%	60.64%	-29.12%	34.73%	42.78%	48.83%	-2.51%	33.27%

Correlation

The correlation between XLUS.L and XLKS.L is -0.02, 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	-0.02
Correlation (3Y) Calculated over the trailing 3-year period	0.01
Correlation (5Y) Calculated over the trailing 5-year period	0.15
Correlation (10Y) Calculated over the trailing 10-year period	0.19
Correlation (All Time) Calculated using the full available price history since Dec 16, 2009	0.26

The correlation between XLUS.L and XLKS.L shifts across timeframes, from -0.02 (1 year) to 0.26 (all time), reflecting how their relationship changes across market environments.

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

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

Return for Risk

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

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

XLUS.L

XLUS.L Risk / Return Rank: 31
XLUS.L Sharpe Ratio Rank: 32
XLUS.L Sortino Ratio Rank: 30
XLUS.L Omega Ratio Rank: 29
XLUS.L Calmar Ratio Rank: 38
XLUS.L Martin Ratio Rank: 28

XLKS.L

XLKS.L Risk / Return Rank: 48
XLKS.L Sharpe Ratio Rank: 53
XLKS.L Sortino Ratio Rank: 52
XLKS.L Omega Ratio Rank: 49
XLKS.L Calmar Ratio Rank: 46
XLKS.L Martin Ratio Rank: 40

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.

XLUS.L vs. XLKS.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Utilities S&P US Select Sector UCITS ETF Acc (XLUS.L) and Invesco Technology S&P US Select Sector UCITS ETF Acc (XLKS.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.

	XLUS.L	XLKS.L	Difference
Sharpe ratio: Return per unit of total volatility	0.98	1.48	-0.50
Sortino ratio: Return per unit of downside risk	1.43	2.09	-0.65
Omega ratio: Gain probability vs. loss probability	1.17	1.25	-0.08
Calmar ratio: Return relative to maximum drawdown	1.62	1.91	-0.29
Martin ratio: Return relative to average drawdown	3.20	5.17	-1.97

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

The current XLUS.L Sharpe Ratio is 0.98, which is lower than the XLKS.L Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of XLUS.L and XLKS.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

XLUS.L vs. XLKS.L - Drawdown Comparison

The maximum XLUS.L drawdown since its inception was -36.30%, which is greater than XLKS.L's maximum drawdown of -34.26%. Use the drawdown chart below to compare losses from any high point for XLUS.L and XLKS.L.

Drawdown Indicators

	XLUS.L	XLKS.L	Difference
Max Drawdown Largest peak-to-trough decline	-36.30%	-34.26%	-2.04%
Max Drawdown (1Y) Largest decline over 1 year	-8.92%	-16.99%	+8.07%
Max Drawdown (3Y) Largest decline over 3 years	-18.43%	-26.97%	+8.54%
Max Drawdown (5Y) Largest decline over 5 years	-26.24%	-34.26%	+8.02%
Max Drawdown (10Y) Largest decline over 10 years	-36.30%	-34.26%	-2.04%
Current Drawdown Current decline from peak	-3.39%	-7.74%	+4.35%
Average Drawdown Average peak-to-trough decline	-5.68%	-5.14%	-0.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.53%	6.28%	-1.75%

Volatility

XLUS.L vs. XLKS.L - Volatility Comparison

The current volatility for Invesco Utilities S&P US Select Sector UCITS ETF Acc (XLUS.L) is 4.23%, while Invesco Technology S&P US Select Sector UCITS ETF Acc (XLKS.L) has a volatility of 7.31%. This indicates that XLUS.L experiences smaller price fluctuations and is considered to be less risky than XLKS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XLUS.L	XLKS.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.23%	7.31%	-3.08%
Volatility (6M) Calculated over the trailing 6-month period	12.04%	17.62%	-5.58%
Volatility (1Y) Calculated over the trailing 1-year period	14.78%	22.00%	-7.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.06%	24.13%	-7.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.12%	22.18%	-4.06%

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

Both XLUS.L and XLKS.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

XLUS.L vs. XLKS.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

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

XLUS.L and XLKS.L have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

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

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

XLUS.L is categorized as Utilities Equities, while XLKS.L is Technology Equities. XLUS.L tracks S&P® Select Sector Capped 20% Utilities Index, while XLKS.L tracks S&P® Select Sector Capped 20% Technology Index.