LDEG.L vs. X7PS.L

Last updated Jul 16, 2026

LDEG.L (L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF) and X7PS.L (Invesco STOXX Europe 600 Optimised Banks UCITS ETF) are both Europe Equities funds - LDEG.L tracks the MSCI Europe Ex UK NR EUR while X7PS.L tracks the Invesco STOXX Europe 600 Optimised Banks UCITS ETF. Both are passively managed. Over the past 5 years, LDEG.L returned 16.65%/yr vs 31.75%/yr for X7PS.L. A 0.79 correlation means they provide meaningful diversification when combined. LDEG.L charges 0.25%/yr vs 0.30%/yr for X7PS.L.

Performance

LDEG.L vs. X7PS.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF (LDEG.L) and Invesco STOXX Europe 600 Optimised Banks UCITS ETF (X7PS.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

LDEG.L is traded in GBp, while X7PS.L is traded in EUR. To make them comparable, the X7PS.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, LDEG.L achieves a 11.91% return, which is significantly lower than X7PS.L's 14.56% return.

LDEG.L

• 1D: -0.90%
• 1M: 0.19%
• 6M: 9.63%
• YTD: 11.91%
• 1Y: 26.80%
• 3Y*: 24.69%
• 5Y*: 16.65%
• 10Y*: —

X7PS.L

• 1D: 0.00%
• 1M: 4.26%
• 6M: 11.91%
• YTD: 14.56%
• 1Y: 49.84%
• 3Y*: 44.04%
• 5Y*: 31.75%
• 10Y*: 16.45%

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

LDEG.L vs. X7PS.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
LDEG.L L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF	11.91%	44.91%	8.81%	14.31%	1.91%	-8.28%
X7PS.L Invesco STOXX Europe 600 Optimised Banks UCITS ETF	14.56%	87.84%	27.12%	23.19%	5.63%	11.90%

Correlation

The correlation between LDEG.L and X7PS.L is 0.75, 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	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (All Time) Calculated using the full available price history since Apr 12, 2021	0.79

The correlation between LDEG.L and X7PS.L has been stable across timeframes, ranging from 0.75 to 0.81 - a consistent structural relationship.

Return for Risk

LDEG.L vs. X7PS.L — Risk / Return Rank

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

LDEG.L

LDEG.L Risk / Return Rank: 83
LDEG.L Sharpe Ratio Rank: 87
LDEG.L Sortino Ratio Rank: 84
LDEG.L Omega Ratio Rank: 83
LDEG.L Calmar Ratio Rank: 79
LDEG.L Martin Ratio Rank: 79

X7PS.L

X7PS.L Risk / Return Rank: 82
X7PS.L Sharpe Ratio Rank: 90
X7PS.L Sortino Ratio Rank: 86
X7PS.L Omega Ratio Rank: 83
X7PS.L Calmar Ratio Rank: 78
X7PS.L Martin Ratio Rank: 73

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.

LDEG.L vs. X7PS.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF (LDEG.L) and Invesco STOXX Europe 600 Optimised Banks UCITS ETF (X7PS.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.

	LDEG.L	X7PS.L	Difference
Sharpe ratio: Return per unit of total volatility	2.24	2.23	+0.01
Sortino ratio: Return per unit of downside risk	3.03	2.94	+0.09
Omega ratio: Gain probability vs. loss probability	1.40	1.37	+0.03
Calmar ratio: Return relative to maximum drawdown	3.32	3.10	+0.22
Martin ratio: Return relative to average drawdown	11.87	10.36	+1.50

LDEG.L vs. X7PS.L - Sharpe Ratio Comparison

The current LDEG.L Sharpe Ratio is 2.24, which is comparable to the X7PS.L Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of LDEG.L and X7PS.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

LDEG.L vs. X7PS.L - Drawdown Comparison

The maximum LDEG.L drawdown since its inception was -21.96%, smaller than the maximum X7PS.L drawdown of -56.34%. Use the drawdown chart below to compare losses from any high point for LDEG.L and X7PS.L.

Drawdown Indicators

	LDEG.L	X7PS.L	Difference
Max Drawdown Largest peak-to-trough decline	-21.96%	-56.34%	+34.38%
Max Drawdown (1Y) Largest decline over 1 year	-8.04%	-16.07%	+8.03%
Max Drawdown (3Y) Largest decline over 3 years	-12.05%	-18.22%	+6.17%
Max Drawdown (5Y) Largest decline over 5 years	-17.39%	-30.73%	+13.34%
Max Drawdown (10Y) Largest decline over 10 years	—	-56.34%	—
Current Drawdown Current decline from peak	-1.30%	-1.80%	+0.50%
Average Drawdown Average peak-to-trough decline	-5.32%	-14.49%	+9.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.25%	4.81%	-2.56%

Volatility

LDEG.L vs. X7PS.L - Volatility Comparison

The current volatility for L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF (LDEG.L) is 3.78%, while Invesco STOXX Europe 600 Optimised Banks UCITS ETF (X7PS.L) has a volatility of 5.39%. This indicates that LDEG.L experiences smaller price fluctuations and is considered to be less risky than X7PS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LDEG.L	X7PS.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.78%	5.39%	-1.61%
Volatility (6M) Calculated over the trailing 6-month period	9.93%	18.89%	-8.96%
Volatility (1Y) Calculated over the trailing 1-year period	11.95%	22.30%	-10.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.24%	23.78%	-9.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.19%	24.60%	-9.41%

LDEG.L vs. X7PS.L - Expense Ratio Comparison

LDEG.L has a 0.25% expense ratio, which is lower than X7PS.L's 0.30% expense ratio.

Dividends

LDEG.L vs. X7PS.L - Dividend Comparison

LDEG.L's dividend yield for the trailing twelve months is around 3.56%, while X7PS.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
LDEG.L L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF	3.56%	3.42%	4.20%	4.10%	3.69%	3.06%
X7PS.L Invesco STOXX Europe 600 Optimised Banks UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LDEG.L and X7PS.L in my portfolio?

LDEG.L and X7PS.L have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LDEG.L or X7PS.L?

On fees, LDEG.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LDEG.L or X7PS.L?

LDEG.L is cheaper with a 0.25% expense ratio, compared with 0.30% for X7PS.L.

What is the main difference between LDEG.L and X7PS.L?

LDEG.L tracks MSCI Europe Ex UK NR EUR, while X7PS.L tracks Invesco STOXX Europe 600 Optimised Banks UCITS ETF. They also come from different issuers: Legal & General and Invesco. Their fees differ too: 0.25% for LDEG.L and 0.30% for X7PS.L.