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REL.L vs. FNCW.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

REL.L vs. FNCW.L

Last updated Jun 27, 2026

REL.L (RELX PLC) is a stock, while FNCW.L (SPDR MSCI World Financials UCITS ETF) is Financials Equities fund tracking the MSCI World/Financials NR USD. Over the past 10 years, REL.L returned 8.57%/yr vs 10.41%/yr for FNCW.L. At a 0.31 correlation, their price movements are largely independent.

Performance

REL.L vs. FNCW.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in RELX PLC (REL.L) and SPDR MSCI World Financials UCITS ETF (FNCW.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

REL.L is traded in GBp, while FNCW.L is traded in GBP. To make them comparable, the FNCW.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, REL.L achieves a -20.30% return, which is significantly lower than FNCW.L's 5.23% return. Over the past 10 years, REL.L has underperformed FNCW.L with an annualized return of 8.57%, while FNCW.L has yielded a comparatively higher 10.41% annualized return.

REL.L

1D
-0.25%
1M
-3.31%
YTD
-20.30%
6M
-20.43%
1Y
-37.55%
3Y*
-1.04%
5Y*
6.19%
10Y*
8.57%

FNCW.L

1D
-0.59%
1M
5.12%
YTD
5.23%
6M
5.02%
1Y
20.53%
3Y*
23.33%
5Y*
6.96%
10Y*
10.41%
*Multi-year figures are annualized to reflect compound growth (CAGR)

REL.L vs. FNCW.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
REL.L
RELX PLC		-20.30%-15.41%18.77%38.84%-2.70%37.27%-3.44%20.74%-4.64%22.85%
FNCW.L
SPDR MSCI World Financials UCITS ETF		5.23%20.39%28.75%9.93%-25.31%27.89%-2.84%25.54%-16.96%22.64%

Correlation

The correlation between REL.L and FNCW.L is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.21

Correlation (3Y)
Calculated over the trailing 3-year period

0.28

Correlation (5Y)
Calculated over the trailing 5-year period

0.29

Correlation (10Y)
Calculated over the trailing 10-year period

0.23

Correlation (All Time)
Calculated using the full available price history since Jan 4, 2011

0.31

The correlation between REL.L and FNCW.L shifts across timeframes, from 0.21 (1 year) to 0.31 (all time), reflecting how their relationship changes across market environments.

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RELX PLC

SPDR MSCI World Financials UCITS ETF

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Often compared with FNCW.L:
FNCW.L vs. XSFN.LFNCW.L vs. XDWF.DEFNCW.L vs. XNAQ.LFNCW.L vs. SWDA.LFNCW.L vs. SXR8.DEFNCW.L vs. IITU.LFNCW.L vs. VUSA.L

Return for Risk

REL.L vs. FNCW.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
REL.L
REL.L Risk / Return Rank: 88
Overall Rank
REL.L Sharpe Ratio Rank: 33
Sharpe Ratio Rank
REL.L Sortino Ratio Rank: 55
Sortino Ratio Rank
REL.L Omega Ratio Rank: 55
Omega Ratio Rank
REL.L Calmar Ratio Rank: 1515
Calmar Ratio Rank
REL.L Martin Ratio Rank: 1111
Martin Ratio Rank
FNCW.L
FNCW.L Risk / Return Rank: 5252
Overall Rank
FNCW.L Sharpe Ratio Rank: 5656
Sharpe Ratio Rank
FNCW.L Sortino Ratio Rank: 5656
Sortino Ratio Rank
FNCW.L Omega Ratio Rank: 5252
Omega Ratio Rank
FNCW.L Calmar Ratio Rank: 4949
Calmar Ratio Rank
FNCW.L Martin Ratio Rank: 4646
Martin Ratio Rank
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.

REL.L vs. FNCW.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for RELX PLC (REL.L) and SPDR MSCI World Financials UCITS ETF (FNCW.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.

REL.LFNCW.LDifference
Sharpe ratioReturn per unit of total volatility
-1.16
1.66

-2.81

Sortino ratioReturn per unit of downside risk
-1.65
2.34

-3.99

Omega ratioGain probability vs. loss probability

0.78

1.29

-0.50

Calmar ratioReturn relative to maximum drawdown

-0.76

2.14

-2.90

Martin ratioReturn relative to average drawdown

-1.36

6.83

-8.19

REL.L vs. FNCW.L - Sharpe Ratio Comparison

The current REL.L Sharpe Ratio is -1.16, which is lower than the FNCW.L Sharpe Ratio of 1.66. The chart below compares the historical Sharpe Ratios of REL.L and FNCW.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.

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Drawdowns

REL.L vs. FNCW.L - Drawdown Comparison

The maximum REL.L drawdown since its inception was -50.99%, which is greater than FNCW.L's maximum drawdown of -43.96%. Use the drawdown chart below to compare losses from any high point for REL.L and FNCW.L.

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Drawdown Indicators

REL.LFNCW.LDifference

Max Drawdown

Largest peak-to-trough decline

-50.99%

-43.96%

-7.03%

Max Drawdown (1Y)

Largest decline over 1 year

-49.56%

-9.55%

-40.01%

Max Drawdown (3Y)

Largest decline over 3 years

-50.99%

-16.31%

-34.68%

Max Drawdown (5Y)

Largest decline over 5 years

-50.99%

-37.67%

-13.32%

Max Drawdown (10Y)

Largest decline over 10 years

-50.99%

-43.96%

-7.03%

Current Drawdown

Current decline from peak

-41.39%

-0.62%

-40.77%

Average Drawdown

Average peak-to-trough decline

-8.60%

-10.58%

+1.98%

Ulcer Index

Depth and duration of drawdowns from previous peaks

27.49%

3.00%

+24.49%

Volatility

REL.L vs. FNCW.L - Volatility Comparison

RELX PLC (REL.L) has a higher volatility of 10.62% compared to SPDR MSCI World Financials UCITS ETF (FNCW.L) at 3.49%. This indicates that REL.L's price experiences larger fluctuations and is considered to be riskier than FNCW.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

REL.LFNCW.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

10.62%

3.49%

+7.13%

Volatility (6M)

Calculated over the trailing 6-month period

29.54%

9.75%

+19.79%

Volatility (1Y)

Calculated over the trailing 1-year period

32.34%

12.34%

+20.00%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.83%

18.82%

+3.01%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.64%

19.48%

+2.16%

Dividends

REL.L vs. FNCW.L - Dividend Comparison

REL.L's dividend yield for the trailing twelve months is around 2.86%, while FNCW.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
FNCW.L
SPDR MSCI World Financials 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%
REL.L
RELX PLC		2.86%2.13%1.65%1.80%2.24%1.99%2.55%2.27%2.48%2.15%2.25%2.21%

Frequently Asked Questions

REL.L and FNCW.L have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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