FNCE.L vs. WFIN.L
FNCE.L (SPDR MSCI Europe Financials UCITS ETF) and WFIN.L (State Street SPDR MSCI World Financials UCITS ETF USD Acc) are both Financials Equities funds from State Street - FNCE.L tracks the MSCI World/Financials NR USD while WFIN.L tracks the State Street SPDR MSCI World Financials UCITS ETF USD Acc. Both are passively managed. Over the past 10 years, FNCE.L returned 12.67%/yr vs 13.14%/yr for WFIN.L. A 0.72 correlation means they provide meaningful diversification when combined. FNCE.L charges 0.18%/yr vs 0.30%/yr for WFIN.L.
Performance
FNCE.L vs. WFIN.L - Performance Comparison
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Different Trading Currencies
FNCE.L is traded in GBP, while WFIN.L is traded in USD. To make them comparable, the WFIN.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, FNCE.L achieves a 12.31% return, which is significantly higher than WFIN.L's 8.76% return. Both investments have delivered pretty close results over the past 10 years, with FNCE.L having a 12.67% annualized return and WFIN.L not far ahead at 13.14%.
FNCE.L
- 1D
- 0.00%
- 1M
- 5.45%
- 6M
- 11.76%
- YTD
- 12.31%
- 1Y
- 34.09%
- 3Y*
- 32.40%
- 5Y*
- 19.18%
- 10Y*
- 12.67%
WFIN.L
- 1D
- 0.00%
- 1M
- 5.02%
- 6M
- 9.23%
- YTD
- 8.76%
- 1Y
- 20.40%
- 3Y*
- 23.63%
- 5Y*
- 15.27%
- 10Y*
- 13.14%
FNCE.L vs. WFIN.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FNCE.L SPDR MSCI Europe Financials UCITS ETF | 12.31% | 54.52% | 20.29% | 18.87% | -13.17% | 28.99% | -15.61% | 22.69% | -19.01% | 12.15% |
WFIN.L State Street SPDR MSCI World Financials UCITS ETF USD Acc | 8.76% | 19.97% | 29.04% | 10.39% | 0.87% | 29.59% | -5.81% | 20.19% | -12.43% | 12.77% |
Correlation
The correlation between FNCE.L and WFIN.L is 0.75, 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 | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2011 | 0.72 |
The correlation between FNCE.L and WFIN.L has been stable across timeframes, ranging from 0.71 to 0.75 - a consistent structural relationship.
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Return for Risk
FNCE.L vs. WFIN.L — Risk / Return Rank
FNCE.L
WFIN.L
FNCE.L vs. WFIN.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Europe Financials UCITS ETF (FNCE.L) and State Street SPDR MSCI World Financials UCITS ETF USD Acc (WFIN.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.
| FNCE.L | WFIN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.48 | ||
| Sortino ratioReturn per unit of downside risk | +0.49 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.26 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.91 | 2.15 | +0.76 |
| Martin ratioReturn relative to average drawdown | 10.19 | 6.83 | +3.36 |
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Drawdowns
FNCE.L vs. WFIN.L - Drawdown Comparison
The maximum FNCE.L drawdown since its inception was -45.35%, smaller than the maximum WFIN.L drawdown of -61.54%. Use the drawdown chart below to compare losses from any high point for FNCE.L and WFIN.L.
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Drawdown Indicators
| FNCE.L | WFIN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.35% | -61.54% | +16.19% |
Max Drawdown (1Y)Largest decline over 1 year | -11.77% | -9.90% | -1.87% |
Max Drawdown (3Y)Largest decline over 3 years | -14.71% | -16.14% | +1.43% |
Max Drawdown (5Y)Largest decline over 5 years | -32.91% | -16.17% | -16.74% |
Max Drawdown (10Y)Largest decline over 10 years | -45.35% | -35.39% | -9.96% |
Current DrawdownCurrent decline from peak | -0.20% | -0.58% | +0.38% |
Average DrawdownAverage peak-to-trough decline | -12.26% | -10.55% | -1.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.35% | 3.12% | +0.23% |
Volatility
FNCE.L vs. WFIN.L - Volatility Comparison
SPDR MSCI Europe Financials UCITS ETF (FNCE.L) has a higher volatility of 4.27% compared to State Street SPDR MSCI World Financials UCITS ETF USD Acc (WFIN.L) at 3.67%. This indicates that FNCE.L's price experiences larger fluctuations and is considered to be riskier than WFIN.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FNCE.L | WFIN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.27% | 3.67% | +0.60% |
Volatility (6M)Calculated over the trailing 6-month period | 14.81% | 11.66% | +3.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.45% | 14.30% | +3.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.99% | 16.58% | +3.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.21% | 18.14% | +3.07% |
FNCE.L vs. WFIN.L - Expense Ratio Comparison
FNCE.L has a 0.18% expense ratio, which is lower than WFIN.L's 0.30% expense ratio.
Dividends
FNCE.L vs. WFIN.L - Dividend Comparison
Neither FNCE.L nor WFIN.L has paid dividends to shareholders.
Frequently Asked Questions
FNCE.L and WFIN.L have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FNCE.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FNCE.L is cheaper with a 0.18% expense ratio, compared with 0.30% for WFIN.L.
FNCE.L tracks MSCI World/Financials NR USD, while WFIN.L tracks State Street SPDR MSCI World Financials UCITS ETF USD Acc. Their fees differ too: 0.18% for FNCE.L and 0.30% for WFIN.L.
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