FNCL.L vs. DGRW

Last updated Jun 4, 2026

FNCL.L (SPDR® MSCI Europe Financials UCITS ETF) and DGRW (WisdomTree U.S. Quality Dividend Growth Fund) are both exchange-traded funds - FNCL.L is a Financials Equities fund tracking the MSCI World/Financials NR USD, while DGRW is a Dividend fund tracking the WisdomTree U.S. Quality Dividend Growth Index. Both are passively managed. Over the past 10 years, FNCL.L returned 12.19%/yr vs 13.91%/yr for DGRW. At a 0.36 correlation, their price movements are largely independent. FNCL.L charges 0.18%/yr vs 0.28%/yr for DGRW.

Performance

FNCL.L vs. DGRW - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in SPDR® MSCI Europe Financials UCITS ETF (FNCL.L) and WisdomTree U.S. Quality Dividend Growth Fund (DGRW). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

FNCL.L is traded in EUR, while DGRW is traded in USD. To make them comparable, the DGRW values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, FNCL.L achieves a 2.99% return, which is significantly lower than DGRW's 10.40% return. Over the past 10 years, FNCL.L has underperformed DGRW with an annualized return of 12.19%, while DGRW has yielded a comparatively higher 13.91% annualized return.

FNCL.L

• 1D: -1.73%
• 1M: 0.98%
• YTD: 2.99%
• 6M: 10.06%
• 1Y: 21.33%
• 3Y*: 28.17%
• 5Y*: 19.22%
• 10Y*: 12.19%

DGRW

• 1D: -0.61%
• 1M: 4.81%
• YTD: 10.40%
• 6M: 9.22%
• 1Y: 18.39%
• 3Y*: 13.55%
• 5Y*: 13.23%
• 10Y*: 13.91%

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

FNCL.L vs. DGRW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FNCL.L SPDR® MSCI Europe Financials UCITS ETF	2.99%	47.03%	25.92%	21.19%	-1.89%	28.62%	-15.42%	22.23%	-18.97%	12.71%
DGRW WisdomTree U.S. Quality Dividend Growth Fund	10.40%	-1.14%	24.71%	15.10%	-0.53%	33.77%	4.48%	32.47%	-0.94%	11.30%

Correlation

The correlation between FNCL.L and DGRW is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (5Y) Calculated over the trailing 5-year period	0.25
Correlation (10Y) Calculated over the trailing 10-year period	0.31
Correlation (All Time) Calculated using the full available price history since Dec 10, 2014	0.36

The correlation between FNCL.L and DGRW shifts across timeframes, from 0.23 (3 years) to 0.36 (all time), reflecting how their relationship changes across market environments.

FNCL.L vs. DGRW - Sectors Allocation Comparison

Sectors	FNCL.L	DGRW
Financial Services	98.1%	11.3%
Technology	1.2%	32.1%
Industrials	0.7%	9.9%
Basic Materials	-	3.3%
Communication Services	-	10.1%
Consumer Cyclical	-	7.1%
Consumer Defensive	-	6.7%
Energy	-	5.0%
Healthcare	-	12.8%
Real Estate	-	-
Utilities	-	0.2%

Return for Risk

FNCL.L vs. DGRW — Risk / Return Rank

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

FNCL.L

FNCL.L Risk / Return Rank: 34
FNCL.L Sharpe Ratio Rank: 33
FNCL.L Sortino Ratio Rank: 33
FNCL.L Omega Ratio Rank: 32
FNCL.L Calmar Ratio Rank: 35
FNCL.L Martin Ratio Rank: 38

DGRW

DGRW Risk / Return Rank: 60
DGRW Sharpe Ratio Rank: 61
DGRW Sortino Ratio Rank: 65
DGRW Omega Ratio Rank: 63
DGRW Calmar Ratio Rank: 50
DGRW Martin Ratio Rank: 61

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.

FNCL.L vs. DGRW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR® MSCI Europe Financials UCITS ETF (FNCL.L) and WisdomTree U.S. Quality Dividend Growth Fund (DGRW). 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.

	FNCL.L	DGRW	Difference
Sharpe ratio: Return per unit of total volatility	1.20	1.78	-0.58
Sortino ratio: Return per unit of downside risk	1.75	2.45	-0.70
Omega ratio: Gain probability vs. loss probability	1.22	1.33	-0.11
Calmar ratio: Return relative to maximum drawdown	1.74	3.00	-1.26
Martin ratio: Return relative to average drawdown	5.89	11.88	-5.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FNCL.L vs. DGRW - Sharpe Ratio Comparison

The current FNCL.L Sharpe Ratio is 1.20, which is lower than the DGRW Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of FNCL.L and DGRW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FNCL.L	DGRW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.20	1.78	-0.58
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.02	0.93	+0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	0.82	-0.24
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.84	-0.38

Drawdowns

FNCL.L vs. DGRW - Drawdown Comparison

The maximum FNCL.L drawdown since its inception was -45.18%, which is greater than DGRW's maximum drawdown of -31.38%. Use the drawdown chart below to compare losses from any high point for FNCL.L and DGRW.

Drawdown Indicators

	FNCL.L	DGRW	Difference
Max Drawdown Largest peak-to-trough decline	-45.18%	-31.38%	-13.80%
Max Drawdown (1Y) Largest decline over 1 year	-12.18%	-6.16%	-6.02%
Max Drawdown (3Y) Largest decline over 3 years	-16.84%	-20.78%	+3.94%
Max Drawdown (5Y) Largest decline over 5 years	-23.05%	-20.78%	-2.27%
Max Drawdown (10Y) Largest decline over 10 years	-45.18%	-31.38%	-13.80%
Current Drawdown Current decline from peak	-2.27%	-0.61%	-1.66%
Average Drawdown Average peak-to-trough decline	-10.39%	-3.71%	-6.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.61%	1.55%	+2.06%

Volatility

FNCL.L vs. DGRW - Volatility Comparison

SPDR® MSCI Europe Financials UCITS ETF (FNCL.L) has a higher volatility of 5.84% compared to WisdomTree U.S. Quality Dividend Growth Fund (DGRW) at 2.33%. This indicates that FNCL.L's price experiences larger fluctuations and is considered to be riskier than DGRW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNCL.L	DGRW	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.84%	2.33%	+3.51%
Volatility (6M) Calculated over the trailing 6-month period	14.40%	7.64%	+6.76%
Volatility (1Y) Calculated over the trailing 1-year period	17.67%	10.46%	+7.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.77%	14.23%	+4.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.99%	16.98%	+4.01%

FNCL.L vs. DGRW - Expense Ratio Comparison

FNCL.L has a 0.18% expense ratio, which is lower than DGRW's 0.28% expense ratio.

Dividends

FNCL.L vs. DGRW - Dividend Comparison

FNCL.L has not paid dividends to shareholders, while DGRW's dividend yield for the trailing twelve months is around 1.27%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DGRW WisdomTree U.S. Quality Dividend Growth Fund	1.27%	1.43%	1.55%	1.74%	2.15%	1.78%	1.93%	2.20%	2.42%	1.71%	2.13%	2.18%
FNCL.L SPDR® MSCI Europe Financials UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FNCL.L and DGRW in my portfolio?

FNCL.L and DGRW have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FNCL.L or DGRW?

On fees, FNCL.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FNCL.L or DGRW?

FNCL.L is cheaper with a 0.18% expense ratio, compared with 0.28% for DGRW.

What is the main difference between FNCL.L and DGRW?

FNCL.L is categorized as Financials Equities, while DGRW is Dividend. FNCL.L tracks MSCI World/Financials NR USD, while DGRW tracks WisdomTree U.S. Quality Dividend Growth Index. They also come from different issuers: State Street and WisdomTree. Their fees differ too: 0.18% for FNCL.L and 0.28% for DGRW.