FNCL.L vs. XS7R.L

Last updated Jun 5, 2026

FNCL.L (SPDR® MSCI Europe Financials UCITS ETF) and XS7R.L (Xtrackers MSCI Europe Financials ESG Screened UCITS ETF 1C) are both Financials Equities funds tracking the MSCI World/Financials NR USD, from State Street and Xtrackers respectively. Both are passively managed. Over the past 10 years, FNCL.L returned 12.23%/yr vs 9.53%/yr for XS7R.L. Their correlation of 0.93 suggests significant overlap in exposure. FNCL.L charges 0.18%/yr vs 0.20%/yr for XS7R.L.

Performance

FNCL.L vs. XS7R.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in SPDR® MSCI Europe Financials UCITS ETF (FNCL.L) and Xtrackers MSCI Europe Financials ESG Screened UCITS ETF 1C (XS7R.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

FNCL.L is traded in EUR, while XS7R.L is traded in GBp. To make them comparable, the XS7R.L values have been converted to EUR using the latest available exchange rates.

Returns By Period

The year-to-date returns for both stocks are quite close, with FNCL.L having a 3.63% return and XS7R.L slightly lower at 3.50%. Over the past 10 years, FNCL.L has outperformed XS7R.L with an annualized return of 12.23%, while XS7R.L has yielded a comparatively lower 9.53% annualized return.

FNCL.L

• 1D: 0.63%
• 1M: 3.41%
• YTD: 3.63%
• 6M: 9.96%
• 1Y: 22.36%
• 3Y*: 28.76%
• 5Y*: 19.37%
• 10Y*: 12.23%

XS7R.L

• 1D: 0.33%
• 1M: 3.32%
• YTD: 3.50%
• 6M: 10.30%
• 1Y: 18.78%
• 3Y*: 26.26%
• 5Y*: 17.44%
• 10Y*: 9.53%

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

FNCL.L vs. XS7R.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FNCL.L SPDR® MSCI Europe Financials UCITS ETF	3.63%	47.03%	25.92%	21.19%	-1.89%	28.62%	-15.42%	22.23%	-18.97%	12.71%
XS7R.L Xtrackers MSCI Europe Financials ESG Screened UCITS ETF 1C	3.50%	40.06%	23.76%	22.93%	-2.26%	35.76%	-24.17%	14.81%	-25.51%	11.90%

Correlation

The correlation between FNCL.L and XS7R.L is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Dec 10, 2014	0.93

The correlation between FNCL.L and XS7R.L has been stable across timeframes, ranging from 0.90 to 0.96 - a consistent structural relationship.

FNCL.L vs. XS7R.L - Sectors Allocation Comparison

Sectors	FNCL.L	XS7R.L
Financial Services	98.1%	97.1%
Technology	1.2%	1.8%
Industrials	0.7%	1.1%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	0.3%
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

FNCL.L vs. XS7R.L — 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: 36
FNCL.L Sharpe Ratio Rank: 35
FNCL.L Sortino Ratio Rank: 35
FNCL.L Omega Ratio Rank: 34
FNCL.L Calmar Ratio Rank: 37
FNCL.L Martin Ratio Rank: 40

XS7R.L

XS7R.L Risk / Return Rank: 39
XS7R.L Sharpe Ratio Rank: 38
XS7R.L Sortino Ratio Rank: 37
XS7R.L Omega Ratio Rank: 37
XS7R.L Calmar Ratio Rank: 40
XS7R.L Martin Ratio Rank: 42

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. XS7R.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR® MSCI Europe Financials UCITS ETF (FNCL.L) and Xtrackers MSCI Europe Financials ESG Screened UCITS ETF 1C (XS7R.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.

	FNCL.L	XS7R.L	Difference
Sharpe ratio: Return per unit of total volatility	1.26	1.12	+0.14
Sortino ratio: Return per unit of downside risk	1.82	1.63	+0.19
Omega ratio: Gain probability vs. loss probability	1.22	1.20	+0.02
Calmar ratio: Return relative to maximum drawdown	1.83	1.62	+0.21
Martin ratio: Return relative to average drawdown	6.17	5.34	+0.83
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. XS7R.L - Sharpe Ratio Comparison

The current FNCL.L Sharpe Ratio is 1.26, which is comparable to the XS7R.L Sharpe Ratio of 1.12. The chart below compares the historical Sharpe Ratios of FNCL.L and XS7R.L, 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	XS7R.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.26	1.12	+0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.03	0.96	+0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	0.42	+0.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.08	+0.38

Drawdowns

FNCL.L vs. XS7R.L - Drawdown Comparison

The maximum FNCL.L drawdown since its inception was -45.18%, smaller than the maximum XS7R.L drawdown of -70.94%. Use the drawdown chart below to compare losses from any high point for FNCL.L and XS7R.L.

Drawdown Indicators

	FNCL.L	XS7R.L	Difference
Max Drawdown Largest peak-to-trough decline	-45.18%	-70.94%	+25.76%
Max Drawdown (1Y) Largest decline over 1 year	-12.18%	-11.56%	-0.62%
Max Drawdown (3Y) Largest decline over 3 years	-16.84%	-17.71%	+0.87%
Max Drawdown (5Y) Largest decline over 5 years	-23.05%	-23.10%	+0.05%
Max Drawdown (10Y) Largest decline over 10 years	-45.18%	-55.89%	+10.71%
Current Drawdown Current decline from peak	-1.65%	-2.30%	+0.65%
Average Drawdown Average peak-to-trough decline	-10.38%	-31.48%	+21.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.61%	3.50%	+0.11%

Volatility

FNCL.L vs. XS7R.L - Volatility Comparison

SPDR® MSCI Europe Financials UCITS ETF (FNCL.L) has a higher volatility of 5.55% compared to Xtrackers MSCI Europe Financials ESG Screened UCITS ETF 1C (XS7R.L) at 5.20%. This indicates that FNCL.L's price experiences larger fluctuations and is considered to be riskier than XS7R.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNCL.L	XS7R.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.55%	5.20%	+0.35%
Volatility (6M) Calculated over the trailing 6-month period	14.40%	13.46%	+0.94%
Volatility (1Y) Calculated over the trailing 1-year period	17.68%	16.71%	+0.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.77%	19.31%	-0.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.99%	23.63%	-2.64%

FNCL.L vs. XS7R.L - Expense Ratio Comparison

FNCL.L has a 0.18% expense ratio, which is lower than XS7R.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%.

Dividends

FNCL.L vs. XS7R.L - Dividend Comparison

Neither FNCL.L nor XS7R.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both FNCL.L and XS7R.L in my portfolio?

With a correlation of 0.96, FNCL.L and XS7R.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, FNCL.L or XS7R.L?

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 XS7R.L?

FNCL.L is cheaper with a 0.18% expense ratio, compared with 0.20% for XS7R.L.

What is the main difference between FNCL.L and XS7R.L?

Both ETFs track MSCI World/Financials NR USD. They also come from different issuers: State Street and Xtrackers. Their fees differ too: 0.18% for FNCL.L and 0.20% for XS7R.L.