S7XP.L vs. S7XE.DE
S7XP.L (Invesco EURO STOXX Optimised Banks UCITS ETF) and S7XE.DE (Invesco EURO STOXX Optimised Banks UCITS ETF) are both Financials Equities funds from Invesco - S7XP.L tracks the MSCI World/Financials NR USD while S7XE.DE tracks the EURO STOXX® Optimised Banks. Both are passively managed. Over the past 10 years, S7XP.L returned 15.50%/yr vs 15.53%/yr for S7XE.DE. With a 0.96 correlation, they move nearly in lockstep. Both charge a 0.30% expense ratio.
Performance
S7XP.L vs. S7XE.DE - Performance Comparison
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Different Trading Currencies
S7XP.L is traded in GBp, while S7XE.DE is traded in EUR. To make them comparable, the S7XE.DE values have been converted to GBp using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with S7XP.L having a 4.29% return and S7XE.DE slightly lower at 4.16%. Both investments have delivered pretty close results over the past 10 years, with S7XP.L having a 15.50% annualized return and S7XE.DE not far ahead at 15.53%.
S7XP.L
- 1D
- 0.77%
- 1M
- 6.44%
- YTD
- 4.29%
- 6M
- 10.76%
- 1Y
- 41.95%
- 3Y*
- 44.34%
- 5Y*
- 28.16%
- 10Y*
- 15.50%
S7XE.DE
- 1D
- 1.21%
- 1M
- 6.54%
- YTD
- 4.16%
- 6M
- 10.56%
- 1Y
- 42.20%
- 3Y*
- 44.44%
- 5Y*
- 28.19%
- 10Y*
- 15.53%
S7XP.L vs. S7XE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
S7XP.L Invesco EURO STOXX Optimised Banks UCITS ETF | 4.29% | 94.76% | 25.39% | 26.22% | 6.71% | 30.03% | -18.68% | 10.65% | -30.92% | 19.01% |
S7XE.DE Invesco EURO STOXX Optimised Banks UCITS ETF | 4.16% | 96.54% | 24.96% | 26.26% | 5.96% | 29.33% | -18.77% | 11.98% | -31.20% | 19.71% |
Correlation
The correlation between S7XP.L and S7XE.DE is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 2014 | 0.96 |
The correlation between S7XP.L and S7XE.DE has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.
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Return for Risk
S7XP.L vs. S7XE.DE — Risk / Return Rank
S7XP.L
S7XE.DE
S7XP.L vs. S7XE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco EURO STOXX Optimised Banks UCITS ETF (S7XP.L) and Invesco EURO STOXX Optimised Banks UCITS ETF (S7XE.DE). 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.
| S7XP.L | S7XE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.29 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.44 | 2.47 | -0.03 |
| Martin ratioReturn relative to average drawdown | 8.05 | 8.02 | +0.03 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| S7XP.L | S7XE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.79 | 1.76 | +0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.09 | 1.08 | +0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.55 | 0.55 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.23 | +0.13 |
Drawdowns
S7XP.L vs. S7XE.DE - Drawdown Comparison
The maximum S7XP.L drawdown since its inception was -62.98%, roughly equal to the maximum S7XE.DE drawdown of -63.14%. Use the drawdown chart below to compare losses from any high point for S7XP.L and S7XE.DE.
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Drawdown Indicators
| S7XP.L | S7XE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.98% | -63.14% | +0.16% |
Max Drawdown (1Y)Largest decline over 1 year | -17.10% | -17.00% | -0.10% |
Max Drawdown (3Y)Largest decline over 3 years | -18.26% | -18.29% | +0.03% |
Max Drawdown (5Y)Largest decline over 5 years | -35.01% | -35.08% | +0.07% |
Max Drawdown (10Y)Largest decline over 10 years | -62.98% | -63.14% | +0.16% |
Current DrawdownCurrent decline from peak | -1.85% | -1.73% | -0.12% |
Average DrawdownAverage peak-to-trough decline | -19.23% | -22.51% | +3.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.20% | 5.25% | -0.05% |
Volatility
S7XP.L vs. S7XE.DE - Volatility Comparison
Invesco EURO STOXX Optimised Banks UCITS ETF (S7XP.L) has a higher volatility of 6.49% compared to Invesco EURO STOXX Optimised Banks UCITS ETF (S7XE.DE) at 5.98%. This indicates that S7XP.L's price experiences larger fluctuations and is considered to be riskier than S7XE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| S7XP.L | S7XE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.49% | 5.98% | +0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 18.61% | 19.26% | -0.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.31% | 23.82% | -0.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.83% | 25.84% | -0.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.92% | 28.12% | -0.20% |
S7XP.L vs. S7XE.DE - Expense Ratio Comparison
Both S7XP.L and S7XE.DE have an expense ratio of 0.30%.
Dividends
S7XP.L vs. S7XE.DE - Dividend Comparison
Neither S7XP.L nor S7XE.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.95, S7XP.L and S7XE.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
Both ETFs have the same 0.30% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
S7XP.L and S7XE.DE have the same expense ratio: 0.30% per year.
S7XP.L tracks MSCI World/Financials NR USD, while S7XE.DE tracks EURO STOXX® Optimised Banks.
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