FNCE.L vs. X7PP.L
Compare and contrast key facts about SPDR MSCI Europe Financials UCITS ETF (FNCE.L) and Invesco European Banks Sector UCITS ETF (X7PP.L).
FNCE.L and X7PP.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. X7PP.L is a passively managed fund by Invesco that tracks the performance of the MSCI World/Financials NR USD. It was launched on Jul 7, 2009. Both FNCE.L and X7PP.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
FNCE.L vs. X7PP.L - Performance Comparison
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FNCE.L vs. X7PP.L - 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% |
X7PP.L Invesco European Banks Sector UCITS ETF | -7.71% | 87.77% | 27.07% | 23.27% | 12.60% |
Different Trading Currencies
FNCE.L is traded in GBP, while X7PP.L is traded in GBp. To make them comparable, the X7PP.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 -6.48% return, which is significantly higher than X7PP.L's -7.71% return.
FNCE.L
- 1D
- 1.54%
- 1M
- -8.66%
- YTD
- -6.48%
- 6M
- 3.03%
- 1Y
- 22.86%
- 3Y*
- 25.98%
- 5Y*
- —
- 10Y*
- —
X7PP.L
- 1D
- 1.46%
- 1M
- -11.09%
- YTD
- -7.71%
- 6M
- 5.84%
- 1Y
- 37.93%
- 3Y*
- 37.77%
- 5Y*
- 26.75%
- 10Y*
- 13.76%
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FNCE.L vs. X7PP.L - Expense Ratio Comparison
FNCE.L has a 0.18% expense ratio, which is lower than X7PP.L's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
FNCE.L vs. X7PP.L — Risk / Return Rank
FNCE.L
X7PP.L
FNCE.L vs. X7PP.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 Invesco European Banks Sector UCITS ETF (X7PP.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.
| FNCE.L | X7PP.L | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.22 | 1.62 | -0.40 |
Sortino ratioReturn per unit of downside risk | 1.61 | 2.06 | -0.45 |
Omega ratioGain probability vs. loss probability | 1.23 | 1.28 | -0.05 |
Calmar ratioReturn relative to maximum drawdown | 1.68 | 2.25 | -0.58 |
Martin ratioReturn relative to average drawdown | 6.05 | 7.63 | -1.57 |
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
| FNCE.L | X7PP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.22 | 1.62 | -0.40 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.15 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.56 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.25 | 0.38 | +0.87 |
Correlation
The correlation between FNCE.L and X7PP.L is 0.90, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
FNCE.L vs. X7PP.L - Dividend Comparison
Neither FNCE.L nor X7PP.L has paid dividends to shareholders.
Drawdowns
FNCE.L vs. X7PP.L - Drawdown Comparison
The maximum FNCE.L drawdown since its inception was -14.71%, smaller than the maximum X7PP.L drawdown of -56.28%. Use the drawdown chart below to compare losses from any high point for FNCE.L and X7PP.L.
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Drawdown Indicators
| FNCE.L | X7PP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.71% | -56.28% | +41.57% |
Max Drawdown (1Y)Largest decline over 1 year | -12.90% | -15.94% | +3.04% |
Max Drawdown (5Y)Largest decline over 5 years | — | -30.79% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -56.28% | — |
Current DrawdownCurrent decline from peak | -8.96% | -13.73% | +4.77% |
Average DrawdownAverage peak-to-trough decline | -3.04% | -15.55% | +12.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.55% | 4.71% | -1.16% |
Volatility
FNCE.L vs. X7PP.L - Volatility Comparison
The current volatility for SPDR MSCI Europe Financials UCITS ETF (FNCE.L) is 8.27%, while Invesco European Banks Sector UCITS ETF (X7PP.L) has a volatility of 9.56%. This indicates that FNCE.L experiences smaller price fluctuations and is considered to be less risky than X7PP.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 | X7PP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.27% | 9.56% | -1.29% |
Volatility (6M)Calculated over the trailing 6-month period | 12.88% | 16.03% | -3.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.78% | 23.45% | -4.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.34% | 23.22% | -5.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.34% | 24.61% | -7.27% |