SC0E.DE vs. XMEU.L
SC0E.DE (Invesco MSCI Europe UCITS ETF) and XMEU.L (Xtrackers MSCI Europe UCITS ETF 1C) are both Europe Equities funds - SC0E.DE tracks the MSCI Europe while XMEU.L tracks the MSCI Europe NR EUR. Both are passively managed. Over the past 10 years, SC0E.DE returned 9.06%/yr vs 9.12%/yr for XMEU.L. A 0.69 correlation means they provide meaningful diversification when combined. SC0E.DE charges 0.19%/yr vs 0.12%/yr for XMEU.L.
Performance
SC0E.DE vs. XMEU.L - Performance Comparison
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Different Trading Currencies
SC0E.DE is traded in EUR, while XMEU.L is traded in GBp. To make them comparable, the XMEU.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with SC0E.DE having a 7.48% return and XMEU.L slightly higher at 7.76%. Both investments have delivered pretty close results over the past 10 years, with SC0E.DE having a 9.06% annualized return and XMEU.L not far ahead at 9.12%.
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%
XMEU.L
- 1D
- 0.45%
- 1M
- 3.25%
- YTD
- 7.76%
- 6M
- 9.91%
- 1Y
- 15.96%
- 3Y*
- 13.61%
- 5Y*
- 9.98%
- 10Y*
- 9.12%
SC0E.DE vs. XMEU.L - 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% |
XMEU.L Xtrackers MSCI Europe UCITS ETF 1C | 7.76% | 19.25% | 8.60% | 15.66% | -8.46% | 24.44% | -3.11% | 27.05% | -10.57% | 10.30% |
Correlation
The correlation between SC0E.DE and XMEU.L is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Apr 23, 2009 | 0.69 |
Over the past year, SC0E.DE and XMEU.L have become more correlated (0.92) than their long-term average of 0.69, meaning their price movements have been converging.
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Return for Risk
SC0E.DE vs. XMEU.L — Risk / Return Rank
SC0E.DE
XMEU.L
SC0E.DE vs. XMEU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI Europe UCITS ETF (SC0E.DE) and Xtrackers MSCI Europe UCITS ETF 1C (XMEU.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.
| SC0E.DE | XMEU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.24 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.70 | 1.70 | 0.00 |
| Martin ratioReturn relative to average drawdown | 6.31 | 6.32 | -0.01 |
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 | XMEU.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.25 | 1.29 | -0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.71 | 0.70 | 0.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.60 | 0.58 | +0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.72 | 0.33 | +0.39 |
Drawdowns
SC0E.DE vs. XMEU.L - Drawdown Comparison
The maximum SC0E.DE drawdown since its inception was -35.65%, smaller than the maximum XMEU.L drawdown of -56.53%. Use the drawdown chart below to compare losses from any high point for SC0E.DE and XMEU.L.
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Drawdown Indicators
| SC0E.DE | XMEU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.65% | -56.53% | +20.88% |
Max Drawdown (1Y)Largest decline over 1 year | -9.43% | -9.36% | -0.07% |
Max Drawdown (3Y)Largest decline over 3 years | -16.54% | -16.13% | -0.41% |
Max Drawdown (5Y)Largest decline over 5 years | -19.33% | -19.33% | 0.00% |
Max Drawdown (10Y)Largest decline over 10 years | -35.65% | -35.92% | +0.27% |
Current DrawdownCurrent decline from peak | -1.56% | -0.58% | -0.98% |
Average DrawdownAverage peak-to-trough decline | -5.70% | -8.91% | +3.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.55% | 2.52% | +0.03% |
Volatility
SC0E.DE vs. XMEU.L - Volatility Comparison
Invesco MSCI Europe UCITS ETF (SC0E.DE) has a higher volatility of 4.35% compared to Xtrackers MSCI Europe UCITS ETF 1C (XMEU.L) at 3.92%. This indicates that SC0E.DE's price experiences larger fluctuations and is considered to be riskier than XMEU.L 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 | XMEU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.35% | 3.92% | +0.43% |
Volatility (6M)Calculated over the trailing 6-month period | 10.58% | 10.02% | +0.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.83% | 12.35% | +0.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.59% | 14.22% | +0.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.36% | 15.61% | +0.75% |
SC0E.DE vs. XMEU.L - Expense Ratio Comparison
SC0E.DE has a 0.19% expense ratio, which is higher than XMEU.L's 0.12% 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. XMEU.L - Dividend Comparison
Neither SC0E.DE nor XMEU.L has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
XMEU.L Xtrackers MSCI Europe UCITS ETF 1C | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.12% |
Frequently Asked Questions
With a correlation of 0.92, SC0E.DE and XMEU.L 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.
On fees, XMEU.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XMEU.L is cheaper with a 0.12% expense ratio, compared with 0.19% for SC0E.DE.
SC0E.DE tracks MSCI Europe, while XMEU.L tracks MSCI Europe NR EUR. They also come from different issuers: Invesco and Xtrackers. Their fees differ too: 0.19% for SC0E.DE and 0.12% for XMEU.L.
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