SC0E.DE vs. P500.DE

Last updated Jun 5, 2026

SC0E.DE (Invesco MSCI Europe UCITS ETF) and P500.DE (Invesco S&P 500 UCITS ETF) are both exchange-traded funds - SC0E.DE is a Europe Equities fund tracking the MSCI Europe, while P500.DE is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, SC0E.DE returned 9.06%/yr vs 15.16%/yr for P500.DE. A 0.61 correlation means they provide meaningful diversification when combined. SC0E.DE charges 0.19%/yr vs 0.05%/yr for P500.DE.

Performance

SC0E.DE vs. P500.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Invesco MSCI Europe UCITS ETF (SC0E.DE) and Invesco S&P 500 UCITS ETF (P500.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SC0E.DE achieves a 7.48% return, which is significantly lower than P500.DE's 11.47% return. Over the past 10 years, SC0E.DE has underperformed P500.DE with an annualized return of 9.06%, while P500.DE has yielded a comparatively higher 15.16% annualized return.

SC0E.DE

• 1D: 0.62%
• 1M: 3.45%
• YTD: 7.48%
• 6M: 9.73%
• 1Y: 16.11%
• 3Y*: 13.60%
• 5Y*: 9.92%
• 10Y*: 9.06%

P500.DE

• 1D: -0.10%
• 1M: 5.26%
• YTD: 11.47%
• 6M: 11.50%
• 1Y: 25.80%
• 3Y*: 19.07%
• 5Y*: 14.99%
• 10Y*: 15.16%

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

SC0E.DE vs. P500.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SC0E.DE Invesco MSCI Europe UCITS ETF	7.48%	20.15%	8.25%	15.48%	-9.29%	24.97%	-3.28%	27.71%	-11.02%	10.40%
P500.DE Invesco S&P 500 UCITS ETF	11.47%	4.88%	32.56%	22.69%	-14.05%	41.05%	7.04%	34.88%	-0.84%	6.71%

Correlation

The correlation between SC0E.DE and P500.DE is 0.62, 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	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (10Y) Calculated over the trailing 10-year period	0.65
Correlation (All Time) Calculated using the full available price history since Nov 17, 2011	0.61

The correlation between SC0E.DE and P500.DE has been stable across timeframes, ranging from 0.55 to 0.65 - a consistent structural relationship.

Return for Risk

SC0E.DE vs. P500.DE — Risk / Return Rank

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

SC0E.DE

SC0E.DE Risk / Return Rank: 37
SC0E.DE Sharpe Ratio Rank: 36
SC0E.DE Sortino Ratio Rank: 36
SC0E.DE Omega Ratio Rank: 36
SC0E.DE Calmar Ratio Rank: 36
SC0E.DE Martin Ratio Rank: 40

P500.DE

P500.DE Risk / Return Rank: 70
P500.DE Sharpe Ratio Rank: 69
P500.DE Sortino Ratio Rank: 67
P500.DE Omega Ratio Rank: 71
P500.DE Calmar Ratio Rank: 73
P500.DE Martin Ratio Rank: 70

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.

SC0E.DE vs. P500.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI Europe UCITS ETF (SC0E.DE) and Invesco S&P 500 UCITS ETF (P500.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.

	SC0E.DE	P500.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.25	2.23	-0.98
Sortino ratio: Return per unit of downside risk	1.85	3.03	-1.19
Omega ratio: Gain probability vs. loss probability	1.24	1.41	-0.18
Calmar ratio: Return relative to maximum drawdown	1.70	3.62	-1.91
Martin ratio: Return relative to average drawdown	6.31	12.91	-6.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SC0E.DE vs. P500.DE - Sharpe Ratio Comparison

The current SC0E.DE Sharpe Ratio is 1.25, which is lower than the P500.DE Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of SC0E.DE and P500.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SC0E.DE	P500.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.25	2.23	-0.98
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	0.98	-0.27
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.60	0.94	-0.33
Sharpe Ratio (All Time) Calculated using the full available price history	0.72	1.01	-0.29

Drawdowns

SC0E.DE vs. P500.DE - Drawdown Comparison

The maximum SC0E.DE drawdown since its inception was -35.65%, which is greater than P500.DE's maximum drawdown of -33.78%. Use the drawdown chart below to compare losses from any high point for SC0E.DE and P500.DE.

Drawdown Indicators

	SC0E.DE	P500.DE	Difference
Max Drawdown Largest peak-to-trough decline	-35.65%	-33.78%	-1.87%
Max Drawdown (1Y) Largest decline over 1 year	-9.43%	-7.11%	-2.32%
Max Drawdown (3Y) Largest decline over 3 years	-16.54%	-23.34%	+6.80%
Max Drawdown (5Y) Largest decline over 5 years	-19.33%	-23.34%	+4.01%
Max Drawdown (10Y) Largest decline over 10 years	-35.65%	-33.78%	-1.87%
Current Drawdown Current decline from peak	-1.56%	-0.40%	-1.16%
Average Drawdown Average peak-to-trough decline	-5.70%	-3.85%	-1.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.55%	1.99%	+0.56%

Volatility

SC0E.DE vs. P500.DE - Volatility Comparison

Invesco MSCI Europe UCITS ETF (SC0E.DE) has a higher volatility of 4.35% compared to Invesco S&P 500 UCITS ETF (P500.DE) at 2.65%. This indicates that SC0E.DE's price experiences larger fluctuations and is considered to be riskier than P500.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SC0E.DE	P500.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.35%	2.65%	+1.70%
Volatility (6M) Calculated over the trailing 6-month period	10.58%	7.59%	+2.99%
Volatility (1Y) Calculated over the trailing 1-year period	12.83%	11.52%	+1.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.59%	15.17%	-0.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.36%	16.07%	+0.29%

SC0E.DE vs. P500.DE - Expense Ratio Comparison

SC0E.DE has a 0.19% expense ratio, which is higher than P500.DE'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

SC0E.DE vs. P500.DE - Dividend Comparison

Neither SC0E.DE nor P500.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SC0E.DE and P500.DE in my portfolio?

SC0E.DE and P500.DE have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SC0E.DE or P500.DE?

On fees, P500.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SC0E.DE or P500.DE?

P500.DE is cheaper with a 0.05% expense ratio, compared with 0.19% for SC0E.DE.

What is the main difference between SC0E.DE and P500.DE?

SC0E.DE is categorized as Europe Equities, while P500.DE is S&P 500. SC0E.DE tracks MSCI Europe, while P500.DE tracks S&P 500 Index. Their fees differ too: 0.19% for SC0E.DE and 0.05% for P500.DE.