XRES.L vs. XREP.L

Last updated Jun 5, 2026

XRES.L (Invesco Real Estate S&P US Select Sector UCITS ETF Acc) and XREP.L (Invesco Real Estate S&P US Select Sector UCITS ETF GBP) are both REIT funds from Invesco tracking the S&P Select Sector Capped 20% Real Estate Index. Both are passively managed. Over the past 3 years, XRES.L returned 9.53%/yr vs 9.48%/yr for XREP.L. Their correlation of 0.95 suggests significant overlap in exposure. Both charge a 0.14% expense ratio.

Performance

XRES.L vs. XREP.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 Real Estate S&P US Select Sector UCITS ETF GBP (XREP.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

The year-to-date returns for both stocks are quite close, with XRES.L having a 9.04% return and XREP.L slightly lower at 9.03%.

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%

XREP.L

• 1D: 0.14%
• 1M: -0.09%
• YTD: 9.03%
• 6M: 9.04%
• 1Y: 9.34%
• 3Y*: 9.48%
• 5Y*: —
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023	2022
XRES.L Invesco Real Estate S&P US Select Sector UCITS ETF Acc	9.04%	3.99%	2.44%	12.71%	6.98%
XREP.L Invesco Real Estate S&P US Select Sector UCITS ETF GBP	9.03%	4.22%	2.34%	12.23%	7.91%

Correlation

The correlation between XRES.L and XREP.L is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (All Time) Calculated using the full available price history since Oct 18, 2022	0.95

The correlation between XRES.L and XREP.L has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.

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

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

Return for Risk

XRES.L vs. XREP.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

XREP.L

XREP.L Risk / Return Rank: 17
XREP.L Sharpe Ratio Rank: 12
XREP.L Sortino Ratio Rank: 16
XREP.L Omega Ratio Rank: 29
XREP.L Calmar Ratio Rank: 13
XREP.L Martin Ratio Rank: 12

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. XREP.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 Real Estate S&P US Select Sector UCITS ETF GBP (XREP.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	XREP.L	Difference
Sharpe ratio: Return per unit of total volatility	0.71	0.21	+0.49
Sortino ratio: Return per unit of downside risk	1.08	0.69	+0.38
Omega ratio: Gain probability vs. loss probability	1.12	1.18	-0.05
Calmar ratio: Return relative to maximum drawdown	1.23	0.32	+0.91
Martin ratio: Return relative to average drawdown	3.26	0.48	+2.78
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. XREP.L - Sharpe Ratio Comparison

The current XRES.L Sharpe Ratio is 0.71, which is higher than the XREP.L Sharpe Ratio of 0.21. The chart below compares the historical Sharpe Ratios of XRES.L and XREP.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	XREP.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.71	0.21	+0.49
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.15	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.34	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.35	+0.04

Drawdowns

XRES.L vs. XREP.L - Drawdown Comparison

The maximum XRES.L drawdown since its inception was -37.84%, which is greater than XREP.L's maximum drawdown of -28.63%. Use the drawdown chart below to compare losses from any high point for XRES.L and XREP.L.

Drawdown Indicators

	XRES.L	XREP.L	Difference
Max Drawdown Largest peak-to-trough decline	-37.84%	-28.63%	-9.21%
Max Drawdown (1Y) Largest decline over 1 year	-7.56%	-28.63%	+21.07%
Max Drawdown (3Y) Largest decline over 3 years	-17.95%	-28.63%	+10.68%
Max Drawdown (5Y) Largest decline over 5 years	-34.70%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-37.84%	—	—
Current Drawdown Current decline from peak	-3.19%	-20.87%	+17.68%
Average Drawdown Average peak-to-trough decline	-10.17%	-9.73%	-0.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.87%	19.33%	-16.46%

Volatility

XRES.L vs. XREP.L - Volatility Comparison

Invesco Real Estate S&P US Select Sector UCITS ETF Acc (XRES.L) and Invesco Real Estate S&P US Select Sector UCITS ETF GBP (XREP.L) have volatilities of 4.47% and 4.27%, 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.

Volatility by Period

	XRES.L	XREP.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.47%	4.27%	+0.20%
Volatility (6M) Calculated over the trailing 6-month period	9.68%	9.75%	-0.07%
Volatility (1Y) Calculated over the trailing 1-year period	13.25%	44.18%	-30.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.47%	28.34%	-9.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.89%	28.34%	-9.45%

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

Both XRES.L and XREP.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. XREP.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

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

With a correlation of 0.94, XRES.L and XREP.L 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.

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

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

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

Both ETFs track S&P Select Sector Capped 20% Real Estate Index.