XRES.L vs. XLKQ.L

Last updated Jun 5, 2026

XRES.L (Invesco Real Estate S&P US Select Sector UCITS ETF Acc) and XLKQ.L (Invesco Technology S&P US Select Sector UCITS ETF GBP Acc) are both exchange-traded funds - XRES.L is a REIT fund tracking the S&P Select Sector Capped 20% Real Estate Index, while XLKQ.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, XRES.L returned 6.39%/yr vs 26.30%/yr for XLKQ.L. At a 0.35 correlation, their price movements are largely independent. Both charge a 0.14% expense ratio.

Performance

XRES.L vs. XLKQ.L - Performance Comparison

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

Different Trading Currencies

XRES.L is traded in USD, while XLKQ.L is traded in GBp. To make them comparable, the XLKQ.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XRES.L achieves a 9.04% return, which is significantly lower than XLKQ.L's 23.50% return. Over the past 10 years, XRES.L has underperformed XLKQ.L with an annualized return of 6.39%, while XLKQ.L has yielded a comparatively higher 26.30% annualized return.

XRES.L

• 1D: -0.02%
• 1M: -0.28%
• YTD: 9.04%
• 6M: 8.82%
• 1Y: 9.37%
• 3Y*: 9.53%
• 5Y*: 2.78%
• 10Y*: 6.39%

XLKQ.L

• 1D: -2.18%
• 1M: 13.44%
• YTD: 23.50%
• 6M: 23.21%
• 1Y: 53.05%
• 3Y*: 36.62%
• 5Y*: 25.27%
• 10Y*: 26.30%

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

XRES.L vs. XLKQ.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XRES.L Invesco Real Estate S&P US Select Sector UCITS ETF Acc	9.04%	3.99%	2.44%	12.71%	-25.97%	46.91%	-3.45%	27.10%	-2.96%	10.89%
XLKQ.L Invesco Technology S&P US Select Sector UCITS ETF GBP Acc	23.50%	24.49%	41.63%	59.85%	-29.07%	35.05%	42.15%	50.99%	-4.30%	34.14%

Correlation

The correlation between XRES.L and XLKQ.L is 0.06, 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	0.06
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (10Y) Calculated over the trailing 10-year period	0.35
Correlation (All Time) Calculated using the full available price history since Feb 22, 2016	0.35

Over the past year, the correlation between XRES.L and XLKQ.L has dropped to 0.06 - well below their long-term average of 0.35, suggesting their price drivers have been diverging.

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

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

Return for Risk

XRES.L vs. XLKQ.L — Risk / Return Rank

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

XRES.L

XRES.L Risk / Return Rank: 23
XRES.L Sharpe Ratio Rank: 21
XRES.L Sortino Ratio Rank: 21
XRES.L Omega Ratio Rank: 20
XRES.L Calmar Ratio Rank: 26
XRES.L Martin Ratio Rank: 25

XLKQ.L

XLKQ.L Risk / Return Rank: 73
XLKQ.L Sharpe Ratio Rank: 86
XLKQ.L Sortino Ratio Rank: 81
XLKQ.L Omega Ratio Rank: 78
XLKQ.L Calmar Ratio Rank: 66
XLKQ.L Martin Ratio Rank: 51

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.

XRES.L vs. XLKQ.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Real Estate S&P US Select Sector UCITS ETF Acc (XRES.L) and Invesco Technology S&P US Select Sector UCITS ETF GBP Acc (XLKQ.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.

	XRES.L	XLKQ.L	Difference
Sharpe ratio: Return per unit of total volatility	0.71	2.69	-1.99
Sortino ratio: Return per unit of downside risk	1.08	3.52	-2.44
Omega ratio: Gain probability vs. loss probability	1.12	1.44	-0.31
Calmar ratio: Return relative to maximum drawdown	1.23	3.14	-1.91
Martin ratio: Return relative to average drawdown	3.26	9.57	-6.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current XRES.L Sharpe Ratio is 0.71, which is lower than the XLKQ.L Sharpe Ratio of 2.69. The chart below compares the historical Sharpe Ratios of XRES.L and XLKQ.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

	XRES.L	XLKQ.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.71	2.69	-1.99
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.15	1.09	-0.94
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.34	1.25	-0.91
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	1.17	-0.78

Drawdowns

XRES.L vs. XLKQ.L - Drawdown Comparison

The maximum XRES.L drawdown since its inception was -37.84%, which is greater than XLKQ.L's maximum drawdown of -35.00%. Use the drawdown chart below to compare losses from any high point for XRES.L and XLKQ.L.

Drawdown Indicators

	XRES.L	XLKQ.L	Difference
Max Drawdown Largest peak-to-trough decline	-37.84%	-35.00%	-2.84%
Max Drawdown (1Y) Largest decline over 1 year	-7.56%	-16.81%	+9.25%
Max Drawdown (3Y) Largest decline over 3 years	-17.95%	-26.96%	+9.01%
Max Drawdown (5Y) Largest decline over 5 years	-34.70%	-35.00%	+0.30%
Max Drawdown (10Y) Largest decline over 10 years	-37.84%	-35.00%	-2.84%
Current Drawdown Current decline from peak	-3.19%	-3.14%	-0.05%
Average Drawdown Average peak-to-trough decline	-10.17%	-5.75%	-4.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.87%	5.53%	-2.66%

Volatility

XRES.L vs. XLKQ.L - Volatility Comparison

The current volatility for Invesco Real Estate S&P US Select Sector UCITS ETF Acc (XRES.L) is 4.47%, while Invesco Technology S&P US Select Sector UCITS ETF GBP Acc (XLKQ.L) has a volatility of 6.83%. This indicates that XRES.L experiences smaller price fluctuations and is considered to be less risky than XLKQ.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XRES.L	XLKQ.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.47%	6.83%	-2.36%
Volatility (6M) Calculated over the trailing 6-month period	9.68%	14.92%	-5.24%
Volatility (1Y) Calculated over the trailing 1-year period	13.25%	19.61%	-6.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.47%	23.32%	-4.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.89%	22.22%	-3.33%

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

Both XRES.L and XLKQ.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

XRES.L vs. XLKQ.L - Dividend Comparison

Neither XRES.L nor XLKQ.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XRES.L and XLKQ.L in my portfolio?

XRES.L and XLKQ.L have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XRES.L or XLKQ.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, XRES.L or XLKQ.L?

XRES.L and XLKQ.L have the same expense ratio: 0.14% per year.

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

XRES.L is categorized as REIT, while XLKQ.L is Technology Equities. XRES.L tracks S&P Select Sector Capped 20% Real Estate Index, while XLKQ.L tracks S&P Select Sector Capped 20% Technology Index.