SC0E.DE vs. SMLD.DE
SC0E.DE (Invesco MSCI Europe UCITS ETF) and SMLD.DE (Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist) are both exchange-traded funds - SC0E.DE is a Europe Equities fund tracking the MSCI Europe, while SMLD.DE is a Energy Equities fund tracking the Morningstar MLP Composite. Both are passively managed. Over the past 10 years, SC0E.DE returned 9.06%/yr vs 15.33%/yr for SMLD.DE. At a 0.32 correlation, their price movements are largely independent. SC0E.DE charges 0.19%/yr vs 0.50%/yr for SMLD.DE.
Performance
SC0E.DE vs. SMLD.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SC0E.DE achieves a 7.48% return, which is significantly lower than SMLD.DE's 20.75% return. Over the past 10 years, SC0E.DE has underperformed SMLD.DE with an annualized return of 9.06%, while SMLD.DE has yielded a comparatively higher 15.33% 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%
SMLD.DE
- 1D
- -0.66%
- 1M
- 0.52%
- YTD
- 20.75%
- 6M
- 14.96%
- 1Y
- 13.71%
- 3Y*
- 20.56%
- 5Y*
- 25.24%
- 10Y*
- 15.33%
SC0E.DE vs. SMLD.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% |
SMLD.DE Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist | 20.75% | -8.86% | 35.22% | 27.59% | 49.18% | 62.11% | -27.45% | 24.27% | -4.73% | -12.47% |
Correlation
The correlation between SC0E.DE and SMLD.DE is -0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since May 17, 2013 | 0.32 |
The correlation between SC0E.DE and SMLD.DE shifts across timeframes, from -0.03 (1 year) to 0.32 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SC0E.DE vs. SMLD.DE — Risk / Return Rank
SC0E.DE
SMLD.DE
SC0E.DE vs. SMLD.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 Morningstar US Energy Infrastructure MLP UCITS ETF Dist (SMLD.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 | SMLD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.74 | ||
| Sortino ratioReturn per unit of downside risk | +0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.15 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.70 | 0.92 | +0.78 |
| Martin ratioReturn relative to average drawdown | 6.31 | 1.91 | +4.40 |
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
| SC0E.DE | SMLD.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.25 | 0.51 | +0.74 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.71 | 1.10 | -0.40 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.60 | 0.44 | +0.17 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.72 | 0.29 | +0.43 |
Drawdowns
SC0E.DE vs. SMLD.DE - Drawdown Comparison
The maximum SC0E.DE drawdown since its inception was -35.65%, smaller than the maximum SMLD.DE drawdown of -73.78%. Use the drawdown chart below to compare losses from any high point for SC0E.DE and SMLD.DE.
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Drawdown Indicators
| SC0E.DE | SMLD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.65% | -73.78% | +38.13% |
Max Drawdown (1Y)Largest decline over 1 year | -9.43% | -14.77% | +5.34% |
Max Drawdown (3Y)Largest decline over 3 years | -16.54% | -22.99% | +6.45% |
Max Drawdown (5Y)Largest decline over 5 years | -19.33% | -22.99% | +3.66% |
Max Drawdown (10Y)Largest decline over 10 years | -35.65% | -70.79% | +35.14% |
Current DrawdownCurrent decline from peak | -1.56% | -3.47% | +1.91% |
Average DrawdownAverage peak-to-trough decline | -5.70% | -17.76% | +12.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.55% | 7.16% | -4.61% |
Volatility
SC0E.DE vs. SMLD.DE - Volatility Comparison
The current volatility for Invesco MSCI Europe UCITS ETF (SC0E.DE) is 4.35%, while Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist (SMLD.DE) has a volatility of 5.38%. This indicates that SC0E.DE experiences smaller price fluctuations and is considered to be less risky than SMLD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SC0E.DE | SMLD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.35% | 5.38% | -1.03% |
Volatility (6M)Calculated over the trailing 6-month period | 10.58% | 12.79% | -2.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.83% | 26.64% | -13.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.59% | 22.60% | -8.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.36% | 34.70% | -18.34% |
SC0E.DE vs. SMLD.DE - Expense Ratio Comparison
SC0E.DE has a 0.19% expense ratio, which is lower than SMLD.DE's 0.50% expense ratio.
Dividends
SC0E.DE vs. SMLD.DE - Dividend Comparison
SC0E.DE has not paid dividends to shareholders, while SMLD.DE's dividend yield for the trailing twelve months is around 7.55%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SC0E.DE Invesco MSCI Europe 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% |
SMLD.DE Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist | 7.55% | 8.45% | 12.45% | 18.33% | 14.40% | 17.94% | 25.01% | 18.21% | 21.61% | 18.39% | 14.39% | 20.63% |
Frequently Asked Questions
SC0E.DE and SMLD.DE have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SC0E.DE is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SC0E.DE is cheaper with a 0.19% expense ratio, compared with 0.50% for SMLD.DE.
SC0E.DE is categorized as Europe Equities, while SMLD.DE is Energy Equities. SC0E.DE tracks MSCI Europe, while SMLD.DE tracks Morningstar MLP Composite. Their fees differ too: 0.19% for SC0E.DE and 0.50% for SMLD.DE.
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