FTWG.L vs. X7PP.L

Last updated Jul 16, 2026

FTWG.L (Invesco FTSE All-World UCITS ETF USD Dist) and X7PP.L (Invesco European Banks Sector UCITS ETF) are both exchange-traded funds - FTWG.L is a Global Equities fund tracking the FTSE All-World Index, while X7PP.L is a Financials Equities fund tracking the MSCI World/Financials NR USD. Both are passively managed. Over the past 3 years, FTWG.L returned 17.94%/yr vs 44.37%/yr for X7PP.L. At a 0.48 correlation, their price movements are largely independent. FTWG.L charges 0.15%/yr vs 0.20%/yr for X7PP.L.

Performance

FTWG.L vs. X7PP.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco FTSE All-World UCITS ETF USD Dist (FTWG.L) and Invesco European Banks Sector UCITS ETF (X7PP.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTWG.L achieves a 10.82% return, which is significantly lower than X7PP.L's 14.33% return.

FTWG.L

• 1D: -0.68%
• 1M: -1.15%
• 6M: 9.12%
• YTD: 10.82%
• 1Y: 22.80%
• 3Y*: 17.94%
• 5Y*: —
• 10Y*: —

X7PP.L

• 1D: -0.74%
• 1M: 4.36%
• 6M: 11.75%
• YTD: 14.33%
• 1Y: 49.80%
• 3Y*: 44.37%
• 5Y*: 31.78%
• 10Y*: 16.48%

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

FTWG.L vs. X7PP.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FTWG.L Invesco FTSE All-World UCITS ETF USD Dist	10.82%	14.12%	19.92%	-13.67%
X7PP.L Invesco European Banks Sector UCITS ETF	14.33%	87.77%	27.07%	17.78%

Correlation

The correlation between FTWG.L and X7PP.L is 0.58, 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	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.48
Correlation (All Time) Calculated using the full available price history since Jun 26, 2023	0.48

The correlation between FTWG.L and X7PP.L shifts across timeframes, from 0.48 (all time) to 0.58 (1 year), reflecting how their relationship changes across market environments.

FTWG.L vs. X7PP.L - Sectors Allocation Comparison

Sectors	FTWG.L	X7PP.L
Technology	32.0%	-
Financial Services	16.4%	100.0%
Industrials	10.7%	-
Consumer Cyclical	8.9%	-
Communication Services	8.1%	-
Healthcare	8.0%	-
Consumer Defensive	4.7%	-
Energy	3.5%	-
Basic Materials	3.5%	-
Utilities	2.4%	-
Real Estate	1.7%	-

Return for Risk

FTWG.L vs. X7PP.L — Risk / Return Rank

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

FTWG.L

FTWG.L Risk / Return Rank: 81
FTWG.L Sharpe Ratio Rank: 82
FTWG.L Sortino Ratio Rank: 82
FTWG.L Omega Ratio Rank: 83
FTWG.L Calmar Ratio Rank: 77
FTWG.L Martin Ratio Rank: 81

X7PP.L

X7PP.L Risk / Return Rank: 80
X7PP.L Sharpe Ratio Rank: 87
X7PP.L Sortino Ratio Rank: 84
X7PP.L Omega Ratio Rank: 81
X7PP.L Calmar Ratio Rank: 75
X7PP.L Martin Ratio Rank: 71

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.

FTWG.L vs. X7PP.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco FTSE All-World UCITS ETF USD Dist (FTWG.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.

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.

	FTWG.L	X7PP.L	Difference
Sharpe ratio: Return per unit of total volatility	2.09	2.25	-0.17
Sortino ratio: Return per unit of downside risk	2.92	2.99	-0.07
Omega ratio: Gain probability vs. loss probability	1.39	1.38	+0.01
Calmar ratio: Return relative to maximum drawdown	3.19	3.11	+0.09
Martin ratio: Return relative to average drawdown	12.44	10.37	+2.07

FTWG.L vs. X7PP.L - Sharpe Ratio Comparison

The current FTWG.L Sharpe Ratio is 2.09, which is comparable to the X7PP.L Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of FTWG.L and X7PP.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.

Drawdowns

FTWG.L vs. X7PP.L - Drawdown Comparison

The maximum FTWG.L drawdown since its inception was -22.14%, smaller than the maximum X7PP.L drawdown of -56.28%. Use the drawdown chart below to compare losses from any high point for FTWG.L and X7PP.L.

Drawdown Indicators

	FTWG.L	X7PP.L	Difference
Max Drawdown Largest peak-to-trough decline	-22.14%	-56.28%	+34.14%
Max Drawdown (1Y) Largest decline over 1 year	-7.11%	-15.94%	+8.83%
Max Drawdown (3Y) Largest decline over 3 years	-17.78%	-18.17%	+0.39%
Max Drawdown (5Y) Largest decline over 5 years	—	-30.79%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-56.28%	—
Current Drawdown Current decline from peak	-1.99%	-1.85%	-0.14%
Average Drawdown Average peak-to-trough decline	-6.53%	-15.28%	+8.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.83%	4.79%	-2.96%

Volatility

FTWG.L vs. X7PP.L - Volatility Comparison

The current volatility for Invesco FTSE All-World UCITS ETF USD Dist (FTWG.L) is 3.21%, while Invesco European Banks Sector UCITS ETF (X7PP.L) has a volatility of 5.70%. This indicates that FTWG.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.

Volatility by Period

	FTWG.L	X7PP.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.21%	5.70%	-2.49%
Volatility (6M) Calculated over the trailing 6-month period	8.46%	18.70%	-10.24%
Volatility (1Y) Calculated over the trailing 1-year period	10.88%	22.02%	-11.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.63%	23.50%	-6.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.63%	24.23%	-7.60%

FTWG.L vs. X7PP.L - Expense Ratio Comparison

FTWG.L has a 0.15% 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%.

Dividends

FTWG.L vs. X7PP.L - Dividend Comparison

FTWG.L's dividend yield for the trailing twelve months is around 1.26%, while X7PP.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
FTWG.L Invesco FTSE All-World UCITS ETF USD Dist	1.26%	1.34%	1.50%	0.70%
X7PP.L Invesco European Banks Sector UCITS ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FTWG.L and X7PP.L in my portfolio?

FTWG.L and X7PP.L have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FTWG.L or X7PP.L?

On fees, FTWG.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FTWG.L or X7PP.L?

FTWG.L is cheaper with a 0.15% expense ratio, compared with 0.20% for X7PP.L.

What is the main difference between FTWG.L and X7PP.L?

FTWG.L is categorized as Global Equities, while X7PP.L is Financials Equities. FTWG.L tracks FTSE All-World Index, while X7PP.L tracks MSCI World/Financials NR USD. Their fees differ too: 0.15% for FTWG.L and 0.20% for X7PP.L.