ESIF.DE vs. FNCE.L
ESIF.DE (iShares MSCI Europe Financials Sector UCITS ETF EUR (Acc)) and FNCE.L (SPDR MSCI Europe Financials UCITS ETF) are both Financials Equities funds tracking the MSCI World/Financials NR USD, from iShares and State Street respectively. Both are passively managed. Over the past 3 years, ESIF.DE returned 28.94%/yr vs 28.65%/yr for FNCE.L. Their correlation of 0.90 suggests significant overlap in exposure. Both charge a 0.18% expense ratio.
Performance
ESIF.DE vs. FNCE.L - Performance Comparison
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Different Trading Currencies
ESIF.DE is traded in EUR, while FNCE.L is traded in GBP. To make them comparable, the FNCE.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, ESIF.DE achieves a 3.87% return, which is significantly higher than FNCE.L's 3.50% return.
ESIF.DE
- 1D
- 0.61%
- 1M
- 3.50%
- YTD
- 3.87%
- 6M
- 10.14%
- 1Y
- 22.51%
- 3Y*
- 28.94%
- 5Y*
- 19.48%
- 10Y*
- —
FNCE.L
- 1D
- 0.35%
- 1M
- 3.52%
- YTD
- 3.50%
- 6M
- 9.81%
- 1Y
- 22.27%
- 3Y*
- 28.65%
- 5Y*
- —
- 10Y*
- —
ESIF.DE vs. FNCE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ESIF.DE iShares MSCI Europe Financials Sector UCITS ETF EUR (Acc) | 3.87% | 47.69% | 25.31% | 21.61% | -0.20% |
FNCE.L SPDR MSCI Europe Financials UCITS ETF | 3.50% | 46.46% | 26.09% | 21.39% | -0.15% |
Correlation
The correlation between ESIF.DE and FNCE.L is 0.93, 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 | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2022 | 0.90 |
The correlation between ESIF.DE and FNCE.L has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.
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Return for Risk
ESIF.DE vs. FNCE.L — Risk / Return Rank
ESIF.DE
FNCE.L
ESIF.DE vs. FNCE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Europe Financials Sector UCITS ETF EUR (Acc) (ESIF.DE) and SPDR MSCI Europe Financials UCITS ETF (FNCE.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.
| ESIF.DE | FNCE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.23 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.81 | 1.85 | -0.04 |
| Martin ratioReturn relative to average drawdown | 6.04 | 6.26 | -0.22 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ESIF.DE | FNCE.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.25 | 1.27 | -0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.02 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.16 | 1.27 | -0.10 |
Drawdowns
ESIF.DE vs. FNCE.L - Drawdown Comparison
The maximum ESIF.DE drawdown since its inception was -22.93%, which is greater than FNCE.L's maximum drawdown of -17.16%. Use the drawdown chart below to compare losses from any high point for ESIF.DE and FNCE.L.
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Drawdown Indicators
| ESIF.DE | FNCE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.93% | -17.16% | -5.77% |
Max Drawdown (1Y)Largest decline over 1 year | -12.38% | -12.01% | -0.37% |
Max Drawdown (3Y)Largest decline over 3 years | -17.10% | -17.16% | +0.06% |
Max Drawdown (5Y)Largest decline over 5 years | -22.93% | — | — |
Current DrawdownCurrent decline from peak | -2.65% | -2.01% | -0.64% |
Average DrawdownAverage peak-to-trough decline | -4.14% | -3.01% | -1.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.72% | 3.55% | +0.17% |
Volatility
ESIF.DE vs. FNCE.L - Volatility Comparison
iShares MSCI Europe Financials Sector UCITS ETF EUR (Acc) (ESIF.DE) and SPDR MSCI Europe Financials UCITS ETF (FNCE.L) have volatilities of 5.37% and 5.44%, 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.
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Volatility by Period
| ESIF.DE | FNCE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.37% | 5.44% | -0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 14.59% | 14.21% | +0.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.99% | 17.46% | +0.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.96% | 17.68% | +1.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.84% | 17.68% | +1.16% |
ESIF.DE vs. FNCE.L - Expense Ratio Comparison
Both ESIF.DE and FNCE.L have an expense ratio of 0.18%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
ESIF.DE vs. FNCE.L - Dividend Comparison
Neither ESIF.DE nor FNCE.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.93, ESIF.DE and FNCE.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.
Both ETFs have the same 0.18% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
ESIF.DE and FNCE.L have the same expense ratio: 0.18% per year.
Both ETFs track MSCI World/Financials NR USD. They also come from different issuers: iShares and State Street.
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