PAES.L vs. SX5S.L
PAES.L (Invesco MSCI Europe ESG Climate Paris Aligned UCITS ETF Acc) and SX5S.L (Invesco EURO STOXX 50 UCITS ETF) are both Europe Equities funds from Invesco - PAES.L tracks the MSCI Europe NR EUR while SX5S.L tracks the MSCI EMU NR EUR. Both are passively managed. Over the past 3 years, PAES.L returned 12.56%/yr vs 16.68%/yr for SX5S.L. Their correlation of 0.87 suggests significant overlap in exposure. PAES.L charges 0.16%/yr vs 0.05%/yr for SX5S.L.
Performance
PAES.L vs. SX5S.L - Performance Comparison
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Returns By Period
In the year-to-date period, PAES.L achieves a 7.62% return, which is significantly lower than SX5S.L's 8.35% return.
PAES.L
- 1D
- -1.03%
- 1M
- 1.99%
- YTD
- 7.62%
- 6M
- 7.96%
- 1Y
- 16.30%
- 3Y*
- 12.56%
- 5Y*
- —
- 10Y*
- —
SX5S.L
- 1D
- -0.43%
- 1M
- 3.04%
- YTD
- 8.35%
- 6M
- 8.91%
- 1Y
- 21.42%
- 3Y*
- 16.68%
- 5Y*
- 11.69%
- 10Y*
- 12.06%
PAES.L vs. SX5S.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PAES.L Invesco MSCI Europe ESG Climate Paris Aligned UCITS ETF Acc | 7.62% | 19.00% | 1.22% | 14.38% | -12.18% | 8,263.00% |
SX5S.L Invesco EURO STOXX 50 UCITS ETF | 8.35% | 27.68% | 6.13% | 19.91% | -3.54% | 3.66% |
Correlation
The correlation between PAES.L and SX5S.L is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Dec 6, 2021 | 0.87 |
The correlation between PAES.L and SX5S.L has been stable across timeframes, ranging from 0.82 to 0.87 - a consistent structural relationship.
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Return for Risk
PAES.L vs. SX5S.L — Risk / Return Rank
PAES.L
SX5S.L
PAES.L vs. SX5S.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI Europe ESG Climate Paris Aligned UCITS ETF Acc (PAES.L) and Invesco EURO STOXX 50 UCITS ETF (SX5S.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.
| PAES.L | SX5S.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.41 | ||
| Sortino ratioReturn per unit of downside risk | +169.41 | ||
| Omega ratioGain probability vs. loss probability | 82.48 | 1.26 | +81.22 |
| Calmar ratioReturn relative to maximum drawdown | 0.18 | 1.87 | -1.69 |
| Martin ratioReturn relative to average drawdown | 0.80 | 6.25 | -5.45 |
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Drawdowns
PAES.L vs. SX5S.L - Drawdown Comparison
The maximum PAES.L drawdown since its inception was -99.03%, which is greater than SX5S.L's maximum drawdown of -32.54%. Use the drawdown chart below to compare losses from any high point for PAES.L and SX5S.L.
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Drawdown Indicators
| PAES.L | SX5S.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.03% | -32.54% | -66.49% |
Max Drawdown (1Y)Largest decline over 1 year | -99.03% | -11.43% | -87.60% |
Max Drawdown (3Y)Largest decline over 3 years | -99.03% | -13.85% | -85.18% |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.71% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.54% | — |
Current DrawdownCurrent decline from peak | -1.05% | -2.59% | +1.54% |
Average DrawdownAverage peak-to-trough decline | -6.58% | -5.47% | -1.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.84% | 3.42% | +18.42% |
Volatility
PAES.L vs. SX5S.L - Volatility Comparison
The current volatility for Invesco MSCI Europe ESG Climate Paris Aligned UCITS ETF Acc (PAES.L) is 3.24%, while Invesco EURO STOXX 50 UCITS ETF (SX5S.L) has a volatility of 3.76%. This indicates that PAES.L experiences smaller price fluctuations and is considered to be less risky than SX5S.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PAES.L | SX5S.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.24% | 3.76% | -0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 10.96% | 12.51% | -1.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 17,060.70% | 15.19% | +17,045.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8,952.50% | 17.20% | +8,935.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8,952.50% | 17.83% | +8,934.67% |
PAES.L vs. SX5S.L - Expense Ratio Comparison
PAES.L has a 0.16% expense ratio, which is higher than SX5S.L's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
PAES.L vs. SX5S.L - Dividend Comparison
Neither PAES.L nor SX5S.L has paid dividends to shareholders.
Frequently Asked Questions
PAES.L and SX5S.L have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SX5S.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SX5S.L is cheaper with a 0.05% expense ratio, compared with 0.16% for PAES.L.
PAES.L tracks MSCI Europe NR EUR, while SX5S.L tracks MSCI EMU NR EUR. Their fees differ too: 0.16% for PAES.L and 0.05% for SX5S.L.
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