IVV.AX vs. X7PP.L
IVV.AX (iShares S&P 500 ETF) and X7PP.L (Invesco European Banks Sector UCITS ETF) are both exchange-traded funds - IVV.AX is a S&P 500 fund tracking the S&P 500 Net TR Index (AUD), while X7PP.L is a Financials Equities fund tracking the MSCI World/Financials NR USD. Both are passively managed. Over the past 10 years, IVV.AX returned 110.22%/yr vs 17.74%/yr for X7PP.L. At a 0.18 correlation, their price movements are largely independent. IVV.AX charges 0.04%/yr vs 0.20%/yr for X7PP.L.
Performance
IVV.AX vs. X7PP.L - Performance Comparison
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Different Trading Currencies
IVV.AX is traded in AUD, while X7PP.L is traded in GBp. To make them comparable, the X7PP.L values have been converted to AUD using the latest available exchange rates.
Returns By Period
In the year-to-date period, IVV.AX achieves a 5.73% return, which is significantly lower than X7PP.L's 9.75% return. Over the past 10 years, IVV.AX has outperformed X7PP.L with an annualized return of 110.22%, while X7PP.L has yielded a comparatively lower 17.74% annualized return.
IVV.AX
- 1D
- -0.01%
- 1M
- 1.88%
- 6M
- 4.77%
- YTD
- 5.73%
- 1Y
- 13.58%
- 3Y*
- 19.06%
- 5Y*
- 95.84%
- 10Y*
- 110.22%
X7PP.L
- 1D
- 0.13%
- 1M
- 6.50%
- 6M
- 7.57%
- YTD
- 9.75%
- 1Y
- 41.15%
- 3Y*
- 44.89%
- 5Y*
- 32.85%
- 10Y*
- 17.74%
IVV.AX vs. X7PP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IVV.AX iShares S&P 500 ETF | 5.73% | 9.09% | 37.10% | 25.77% | 1,137.93% | 2,933.38% | 11.30% | 62.34% | 3.21% | 10.85% |
X7PP.L Invesco European Banks Sector UCITS ETF | 9.75% | 87.28% | 37.53% | 29.87% | 0.96% | 35.49% | -23.38% | 13.20% | -22.86% | 17.90% |
Correlation
The correlation between IVV.AX and X7PP.L is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2014 | 0.18 |
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Return for Risk
IVV.AX vs. X7PP.L — Risk / Return Rank
IVV.AX
X7PP.L
IVV.AX vs. X7PP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 ETF (IVV.AX) 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.
| IVV.AX | X7PP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.59 | ||
| Sortino ratioReturn per unit of downside risk | -0.76 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.33 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.17 | 2.24 | -1.07 |
| Martin ratioReturn relative to average drawdown | 3.14 | 6.64 | -3.50 |
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Drawdowns
IVV.AX vs. X7PP.L - Drawdown Comparison
The maximum IVV.AX drawdown since its inception was -38.37%, smaller than the maximum X7PP.L drawdown of -54.88%. Use the drawdown chart below to compare losses from any high point for IVV.AX and X7PP.L.
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Drawdown Indicators
| IVV.AX | X7PP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.37% | -54.88% | +16.51% |
Max Drawdown (1Y)Largest decline over 1 year | -11.60% | -18.25% | +6.65% |
Max Drawdown (3Y)Largest decline over 3 years | -17.38% | -18.25% | +0.87% |
Max Drawdown (5Y)Largest decline over 5 years | -17.38% | -34.45% | +17.07% |
Max Drawdown (10Y)Largest decline over 10 years | -23.89% | -52.37% | +28.48% |
Current DrawdownCurrent decline from peak | -0.42% | -1.30% | +0.88% |
Average DrawdownAverage peak-to-trough decline | -9.46% | -17.69% | +8.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.41% | 6.18% | -1.77% |
Volatility
IVV.AX vs. X7PP.L - Volatility Comparison
The current volatility for iShares S&P 500 ETF (IVV.AX) is 2.53%, while Invesco European Banks Sector UCITS ETF (X7PP.L) has a volatility of 5.27%. This indicates that IVV.AX 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
| IVV.AX | X7PP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.53% | 5.27% | -2.74% |
Volatility (6M)Calculated over the trailing 6-month period | 7.81% | 17.76% | -9.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.31% | 21.47% | -11.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 583.29% | 23.61% | +559.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 772.05% | 24.04% | +748.01% |
IVV.AX vs. X7PP.L - Expense Ratio Comparison
IVV.AX has a 0.04% 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
IVV.AX vs. X7PP.L - Dividend Comparison
IVV.AX's dividend yield for the trailing twelve months is around 0.75%, while X7PP.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IVV.AX iShares S&P 500 ETF | 0.75% | 0.73% | 1.12% | 1.67% | 101.56% | 79.67% | 5.54% | 19.41% | 0.00% | 0.00% | 6.28% | 6.83% |
X7PP.L Invesco European Banks Sector 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
IVV.AX and X7PP.L have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IVV.AX is cheaper at 0.04% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IVV.AX is cheaper with a 0.04% expense ratio, compared with 0.20% for X7PP.L.
IVV.AX is categorized as S&P 500, while X7PP.L is Financials Equities. IVV.AX tracks S&P 500 Net TR Index (AUD), while X7PP.L tracks MSCI World/Financials NR USD. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.04% for IVV.AX and 0.20% for X7PP.L.
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