ESIF.L vs. GXLF.L
ESIF.L (iShares MSCI Europe Financials Sector UCITS ETF) and GXLF.L (SPDR S&P US Financials Select Sector 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.L returned 29.07%/yr vs 15.45%/yr for GXLF.L. A 0.53 correlation means they provide meaningful diversification when combined. ESIF.L charges 0.18%/yr vs 0.15%/yr for GXLF.L.
Performance
ESIF.L vs. GXLF.L - Performance Comparison
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Returns By Period
In the year-to-date period, ESIF.L achieves a 3.13% return, which is significantly higher than GXLF.L's -4.87% return.
ESIF.L
- 1D
- 0.83%
- 1M
- 3.69%
- YTD
- 3.13%
- 6M
- 9.24%
- 1Y
- 25.77%
- 3Y*
- 29.07%
- 5Y*
- 19.63%
- 10Y*
- —
GXLF.L
- 1D
- 3.21%
- 1M
- 2.06%
- YTD
- -4.87%
- 6M
- -2.66%
- 1Y
- 4.61%
- 3Y*
- 15.45%
- 5Y*
- —
- 10Y*
- —
ESIF.L vs. GXLF.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ESIF.L iShares MSCI Europe Financials Sector UCITS ETF | 3.13% | 54.55% | 20.09% | 18.81% | 7.13% |
GXLF.L SPDR S&P US Financials Select Sector UCITS ETF | -4.87% | 7.31% | 32.20% | 6.05% | -1.25% |
Correlation
The correlation between ESIF.L and GXLF.L is 0.52, 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 | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2022 | 0.53 |
The correlation between ESIF.L and GXLF.L has been stable across timeframes, ranging from 0.49 to 0.53 - a consistent structural relationship.
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Return for Risk
ESIF.L vs. GXLF.L — Risk / Return Rank
ESIF.L
GXLF.L
ESIF.L vs. GXLF.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Europe Financials Sector UCITS ETF (ESIF.L) and SPDR S&P US Financials Select Sector UCITS ETF (GXLF.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.L | GXLF.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.17 | ||
| Sortino ratioReturn per unit of downside risk | +1.57 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.07 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 2.20 | 0.36 | +1.84 |
| Martin ratioReturn relative to average drawdown | 7.65 | 0.84 | +6.81 |
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.L | GXLF.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.50 | 0.33 | +1.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.07 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.17 | 0.51 | +0.66 |
Drawdowns
ESIF.L vs. GXLF.L - Drawdown Comparison
The maximum ESIF.L drawdown since its inception was -23.55%, which is greater than GXLF.L's maximum drawdown of -18.21%. Use the drawdown chart below to compare losses from any high point for ESIF.L and GXLF.L.
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Drawdown Indicators
| ESIF.L | GXLF.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.55% | -18.21% | -5.34% |
Max Drawdown (1Y)Largest decline over 1 year | -11.68% | -12.80% | +1.12% |
Max Drawdown (3Y)Largest decline over 3 years | -14.26% | -18.21% | +3.95% |
Max Drawdown (5Y)Largest decline over 5 years | -23.55% | — | — |
Current DrawdownCurrent decline from peak | -1.84% | -6.67% | +4.83% |
Average DrawdownAverage peak-to-trough decline | -4.12% | -5.79% | +1.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.36% | 5.48% | -2.12% |
Volatility
ESIF.L vs. GXLF.L - Volatility Comparison
iShares MSCI Europe Financials Sector UCITS ETF (ESIF.L) has a higher volatility of 5.32% compared to SPDR S&P US Financials Select Sector UCITS ETF (GXLF.L) at 4.36%. This indicates that ESIF.L's price experiences larger fluctuations and is considered to be riskier than GXLF.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ESIF.L | GXLF.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.32% | 4.36% | +0.96% |
Volatility (6M)Calculated over the trailing 6-month period | 14.15% | 10.64% | +3.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.09% | 14.08% | +3.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.32% | 16.99% | +1.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.22% | 16.99% | +1.23% |
ESIF.L vs. GXLF.L - Expense Ratio Comparison
ESIF.L has a 0.18% expense ratio, which is higher than GXLF.L's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
ESIF.L vs. GXLF.L - Dividend Comparison
Neither ESIF.L nor GXLF.L has paid dividends to shareholders.
Frequently Asked Questions
ESIF.L and GXLF.L have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GXLF.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GXLF.L is cheaper with a 0.15% expense ratio, compared with 0.18% for ESIF.L.
Both ETFs track MSCI World/Financials NR USD. They also come from different issuers: iShares and State Street. Their fees differ too: 0.18% for ESIF.L and 0.15% for GXLF.L.
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