CESG.L vs. FASE.L

Last updated Jul 18, 2026

CESG.L (First Trust Global Capital Strength ESG Leaders UCITS ETF Class A USD Acc) and FASE.L (Invesco FTSE All Share Screened & Tilted UCITS ETF GBP (Dist)) are both exchange-traded funds - CESG.L is a ESG fund actively managed by First Trust, while FASE.L is a Europe Equities fund tracking the FTSE All-Share ex Investment Trusts ESG Climate Select Index. CESG.L is actively managed, while FASE.L is passively managed. Over the past 5 years, CESG.L returned 5.53%/yr vs 8.31%/yr for FASE.L. A 0.70 correlation means they provide meaningful diversification when combined. CESG.L charges 0.75%/yr vs 0.12%/yr for FASE.L.

Performance

CESG.L vs. FASE.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Global Capital Strength ESG Leaders UCITS ETF Class A USD Acc (CESG.L) and Invesco FTSE All Share Screened & Tilted UCITS ETF GBP (Dist) (FASE.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, CESG.L achieves a 3.98% return, which is significantly lower than FASE.L's 5.75% return.

CESG.L

• 1D: 0.93%
• 1M: 3.53%
• 6M: 4.17%
• YTD: 3.98%
• 1Y: 6.69%
• 3Y*: 9.84%
• 5Y*: 5.53%
• 10Y*: —

FASE.L

• 1D: -0.23%
• 1M: 3.48%
• 6M: 4.57%
• YTD: 5.75%
• 1Y: 15.78%
• 3Y*: 14.00%
• 5Y*: 8.31%
• 10Y*: —

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

CESG.L vs. FASE.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CESG.L First Trust Global Capital Strength ESG Leaders UCITS ETF Class A USD Acc	3.98%	11.47%	9.71%	12.32%	-13.97%	23.33%
FASE.L Invesco FTSE All Share Screened & Tilted UCITS ETF GBP (Dist)	5.75%	29.24%	7.48%	10.49%	-13.11%	12.11%

Correlation

The correlation between CESG.L and FASE.L is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (All Time) Calculated using the full available price history since Mar 10, 2021	0.70

The correlation between CESG.L and FASE.L has been stable across timeframes, ranging from 0.64 to 0.71 - a consistent structural relationship.

Return for Risk

CESG.L vs. FASE.L — Risk / Return Rank

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

CESG.L

CESG.L Risk / Return Rank: 23
CESG.L Sharpe Ratio Rank: 24
CESG.L Sortino Ratio Rank: 24
CESG.L Omega Ratio Rank: 23
CESG.L Calmar Ratio Rank: 22
CESG.L Martin Ratio Rank: 22

FASE.L

FASE.L Risk / Return Rank: 43
FASE.L Sharpe Ratio Rank: 48
FASE.L Sortino Ratio Rank: 47
FASE.L Omega Ratio Rank: 46
FASE.L Calmar Ratio Rank: 36
FASE.L Martin Ratio Rank: 38

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.

CESG.L vs. FASE.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Global Capital Strength ESG Leaders UCITS ETF Class A USD Acc (CESG.L) and Invesco FTSE All Share Screened & Tilted UCITS ETF GBP (Dist) (FASE.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.

	CESG.L	FASE.L	Difference
Sharpe ratio: Return per unit of total volatility	0.67	1.10	-0.43
Sortino ratio: Return per unit of downside risk	1.01	1.58	-0.57
Omega ratio: Gain probability vs. loss probability	1.12	1.20	-0.08
Calmar ratio: Return relative to maximum drawdown	0.76	1.31	-0.55
Martin ratio: Return relative to average drawdown	1.95	4.04	-2.09

CESG.L vs. FASE.L - Sharpe Ratio Comparison

The current CESG.L Sharpe Ratio is 0.67, which is lower than the FASE.L Sharpe Ratio of 1.10. The chart below compares the historical Sharpe Ratios of CESG.L and FASE.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

CESG.L vs. FASE.L - Drawdown Comparison

The maximum CESG.L drawdown since its inception was -22.69%, smaller than the maximum FASE.L drawdown of -29.13%. Use the drawdown chart below to compare losses from any high point for CESG.L and FASE.L.

Drawdown Indicators

	CESG.L	FASE.L	Difference
Max Drawdown Largest peak-to-trough decline	-22.69%	-29.13%	+6.44%
Max Drawdown (1Y) Largest decline over 1 year	-8.81%	-12.00%	+3.19%
Max Drawdown (3Y) Largest decline over 3 years	-10.31%	-12.55%	+2.24%
Max Drawdown (5Y) Largest decline over 5 years	-22.69%	-29.13%	+6.44%
Current Drawdown Current decline from peak	-0.31%	-1.21%	+0.90%
Average Drawdown Average peak-to-trough decline	-5.51%	-6.21%	+0.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.42%	3.89%	-0.47%

Volatility

CESG.L vs. FASE.L - Volatility Comparison

The current volatility for First Trust Global Capital Strength ESG Leaders UCITS ETF Class A USD Acc (CESG.L) is 3.47%, while Invesco FTSE All Share Screened & Tilted UCITS ETF GBP (Dist) (FASE.L) has a volatility of 3.92%. This indicates that CESG.L experiences smaller price fluctuations and is considered to be less risky than FASE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CESG.L	FASE.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.47%	3.92%	-0.45%
Volatility (6M) Calculated over the trailing 6-month period	8.09%	11.67%	-3.58%
Volatility (1Y) Calculated over the trailing 1-year period	10.01%	14.32%	-4.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.63%	16.79%	-4.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.53%	16.60%	-4.07%

CESG.L vs. FASE.L - Expense Ratio Comparison

CESG.L has a 0.75% expense ratio, which is higher than FASE.L's 0.12% expense ratio.

Dividends

CESG.L vs. FASE.L - Dividend Comparison

CESG.L has not paid dividends to shareholders, while FASE.L's dividend yield for the trailing twelve months is around 2.69%.

Position	TTM	2025	2024	2023	2022	2021
CESG.L First Trust Global Capital Strength ESG Leaders UCITS ETF Class A USD Acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FASE.L Invesco FTSE All Share Screened & Tilted UCITS ETF GBP (Dist)	2.69%	2.61%	3.72%	3.54%	3.47%	2.35%

Frequently Asked Questions

Can I hold both CESG.L and FASE.L in my portfolio?

CESG.L and FASE.L have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CESG.L or FASE.L?

On fees, FASE.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CESG.L or FASE.L?

FASE.L is cheaper with a 0.12% expense ratio, compared with 0.75% for CESG.L.

What is the main difference between CESG.L and FASE.L?

CESG.L is categorized as ESG, while FASE.L is Europe Equities. They also come from different issuers: First Trust and Invesco. Their fees differ too: 0.75% for CESG.L and 0.12% for FASE.L.