FNCE.L vs. GOOG

Last updated Apr 1, 2026

Compare and contrast key facts about SPDR MSCI Europe Financials UCITS ETF (FNCE.L) and Alphabet Inc (GOOG).

FNCE.L is a passively managed fund by State Street that tracks the performance of the MSCI World/Financials NR USD. It was launched on Dec 5, 2014.

Performance

FNCE.L vs. GOOG - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in SPDR MSCI Europe Financials UCITS ETF (FNCE.L) and Alphabet Inc (GOOG). The values are adjusted to include any dividend payments, if applicable.

FNCE.L vs. GOOG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FNCE.L SPDR MSCI Europe Financials UCITS ETF	-6.48%	54.52%	20.29%	18.87%	5.67%
GOOG Alphabet Inc	-6.78%	53.63%	37.99%	50.89%	-33.02%

Different Trading Currencies

FNCE.L is traded in GBP, while GOOG is traded in USD. To make them comparable, the GOOG values have been converted to GBP using the latest available exchange rates.

Returns By Period

The year-to-date returns for both stocks are quite close, with FNCE.L having a -6.48% return and GOOG slightly lower at -6.78%.

FNCE.L

• 1D: 1.54%
• 1M: -8.66%
• YTD: -6.48%
• 6M: 3.03%
• 1Y: 22.86%
• 3Y*: 25.98%
• 5Y*: —
• 10Y*: —

GOOG

• 1D: 4.72%
• 1M: -6.01%
• YTD: -6.78%
• 6M: 19.96%
• 1Y: 80.01%
• 3Y*: 37.40%
• 5Y*: 23.13%
• 10Y*: 23.57%

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

Return for Risk

FNCE.L vs. GOOG — Risk / Return Rank

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

FNCE.L

FNCE.L Risk / Return Rank: 64
FNCE.L Sharpe Ratio Rank: 69
FNCE.L Sortino Ratio Rank: 63
FNCE.L Omega Ratio Rank: 63
FNCE.L Calmar Ratio Rank: 66
FNCE.L Martin Ratio Rank: 60

GOOG

GOOG Risk / Return Rank: 95
GOOG Sharpe Ratio Rank: 96
GOOG Sortino Ratio Rank: 96
GOOG Omega Ratio Rank: 94
GOOG Calmar Ratio Rank: 91
GOOG Martin Ratio Rank: 95

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.

FNCE.L vs. GOOG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Europe Financials UCITS ETF (FNCE.L) and Alphabet Inc (GOOG). 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.

	FNCE.L	GOOG	Difference
Sharpe ratio Return per unit of total volatility	1.22	2.65	-1.44
Sortino ratio Return per unit of downside risk	1.61	3.56	-1.95
Omega ratio Gain probability vs. loss probability	1.23	1.44	-0.21
Calmar ratio Return relative to maximum drawdown	1.68	4.43	-2.75
Martin ratio Return relative to average drawdown	6.05	15.79	-9.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FNCE.L vs. GOOG - Sharpe Ratio Comparison

The current FNCE.L Sharpe Ratio is 1.22, which is lower than the GOOG Sharpe Ratio of 2.65. The chart below compares the historical Sharpe Ratios of FNCE.L and GOOG, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FNCE.L	GOOG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.22	2.65	-1.44
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.78	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.82	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.25	0.83	+0.42

Correlation

The correlation between FNCE.L and GOOG is 0.13, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

FNCE.L vs. GOOG - Dividend Comparison

FNCE.L has not paid dividends to shareholders, while GOOG's dividend yield for the trailing twelve months is around 0.29%.

	TTM	2025	2024
FNCE.L SPDR MSCI Europe Financials UCITS ETF	0.00%	0.00%	0.00%
GOOG Alphabet Inc	0.29%	0.26%	0.32%

Drawdowns

FNCE.L vs. GOOG - Drawdown Comparison

The maximum FNCE.L drawdown since its inception was -14.71%, smaller than the maximum GOOG drawdown of -36.13%. Use the drawdown chart below to compare losses from any high point for FNCE.L and GOOG.

Drawdown Indicators

	FNCE.L	GOOG	Difference
Max Drawdown Largest peak-to-trough decline	-14.71%	-44.60%	+29.89%
Max Drawdown (1Y) Largest decline over 1 year	-12.90%	-20.75%	+7.85%
Max Drawdown (5Y) Largest decline over 5 years	—	-44.60%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-44.60%	—
Current Drawdown Current decline from peak	-8.96%	-16.77%	+7.81%
Average Drawdown Average peak-to-trough decline	-3.04%	-8.96%	+5.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.55%	5.33%	-1.78%

Volatility

FNCE.L vs. GOOG - Volatility Comparison

SPDR MSCI Europe Financials UCITS ETF (FNCE.L) and Alphabet Inc (GOOG) have volatilities of 8.27% and 7.94%, 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

	FNCE.L	GOOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.27%	7.94%	+0.33%
Volatility (6M) Calculated over the trailing 6-month period	12.88%	18.99%	-6.11%
Volatility (1Y) Calculated over the trailing 1-year period	18.78%	30.30%	-11.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.34%	29.94%	-12.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.34%	28.93%	-11.59%