UD03.L vs. X7PS.L
UD03.L (UBS ETF (LU) Factor MSCI EMU Prime Value UCITS ETF (EUR) A-dis) and X7PS.L (Invesco STOXX Europe 600 Optimised Banks UCITS ETF EUR (Acc)) are both Europe Equities funds - UD03.L tracks the MSCI EMU NR EUR while X7PS.L tracks the STOXX Europe 600 Optimised Banks Index (EUR). Both are passively managed. Over the past 10 years, UD03.L returned 10.15%/yr vs 16.34%/yr for X7PS.L. A 0.70 correlation means they provide meaningful diversification when combined. UD03.L charges 0.28%/yr vs 0.20%/yr for X7PS.L.
Performance
UD03.L vs. X7PS.L - Performance Comparison
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Different Trading Currencies
UD03.L is traded in GBp, while X7PS.L is traded in EUR. To make them comparable, the X7PS.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, UD03.L achieves a 16.18% return, which is significantly higher than X7PS.L's 13.65% return. Over the past 10 years, UD03.L has underperformed X7PS.L with an annualized return of 10.15%, while X7PS.L has yielded a comparatively higher 16.34% annualized return.
UD03.L
- 1D
- 0.33%
- 1M
- 0.86%
- 6M
- 16.44%
- YTD
- 16.18%
- 1Y
- 25.16%
- 3Y*
- 15.48%
- 5Y*
- 11.45%
- 10Y*
- 10.15%
X7PS.L
- 1D
- -0.99%
- 1M
- -0.04%
- 6M
- 10.58%
- YTD
- 13.65%
- 1Y
- 47.90%
- 3Y*
- 43.02%
- 5Y*
- 31.54%
- 10Y*
- 16.34%
UD03.L vs. X7PS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UD03.L UBS ETF (LU) Factor MSCI EMU Prime Value UCITS ETF (EUR) A-dis | 16.18% | 24.15% | 1.50% | 14.98% | -2.05% | 11.79% | 5.56% | 16.65% | -13.74% | 16.63% |
X7PS.L Invesco STOXX Europe 600 Optimised Banks UCITS ETF EUR (Acc) | 13.65% | 87.84% | 27.12% | 23.19% | 5.63% | 30.02% | -18.45% | 7.52% | -25.50% | 16.45% |
Correlation
The correlation between UD03.L and X7PS.L is 0.67, 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 | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Aug 18, 2015 | 0.70 |
The correlation between UD03.L and X7PS.L has been stable across timeframes, ranging from 0.67 to 0.72 - a consistent structural relationship.
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Return for Risk
UD03.L vs. X7PS.L — Risk / Return Rank
UD03.L
X7PS.L
UD03.L vs. X7PS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) Factor MSCI EMU Prime Value UCITS ETF (EUR) A-dis (UD03.L) and Invesco STOXX Europe 600 Optimised Banks UCITS ETF EUR (Acc) (X7PS.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.
| UD03.L | X7PS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | -0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.35 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.52 | 2.97 | -0.44 |
| Martin ratioReturn relative to average drawdown | 9.06 | 9.92 | -0.86 |
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Drawdowns
UD03.L vs. X7PS.L - Drawdown Comparison
The maximum UD03.L drawdown since its inception was -35.99%, smaller than the maximum X7PS.L drawdown of -56.34%. Use the drawdown chart below to compare losses from any high point for UD03.L and X7PS.L.
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Drawdown Indicators
| UD03.L | X7PS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.99% | -56.34% | +20.35% |
Max Drawdown (1Y)Largest decline over 1 year | -9.92% | -16.07% | +6.15% |
Max Drawdown (3Y)Largest decline over 3 years | -12.34% | -18.22% | +5.88% |
Max Drawdown (5Y)Largest decline over 5 years | -19.54% | -30.73% | +11.19% |
Max Drawdown (10Y)Largest decline over 10 years | -35.99% | -56.34% | +20.35% |
Current DrawdownCurrent decline from peak | -1.60% | -2.58% | +0.98% |
Average DrawdownAverage peak-to-trough decline | -7.56% | -14.49% | +6.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.77% | 4.81% | -2.04% |
Volatility
UD03.L vs. X7PS.L - Volatility Comparison
The current volatility for UBS ETF (LU) Factor MSCI EMU Prime Value UCITS ETF (EUR) A-dis (UD03.L) is 3.15%, while Invesco STOXX Europe 600 Optimised Banks UCITS ETF EUR (Acc) (X7PS.L) has a volatility of 5.51%. This indicates that UD03.L experiences smaller price fluctuations and is considered to be less risky than X7PS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UD03.L | X7PS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.15% | 5.51% | -2.36% |
Volatility (6M)Calculated over the trailing 6-month period | 10.14% | 18.93% | -8.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.15% | 22.34% | -10.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.04% | 23.77% | -8.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.70% | 24.61% | -7.91% |
UD03.L vs. X7PS.L - Expense Ratio Comparison
UD03.L has a 0.28% expense ratio, which is higher than X7PS.L's 0.20% expense ratio.
Dividends
UD03.L vs. X7PS.L - Dividend Comparison
UD03.L's dividend yield for the trailing twelve months is around 2.46%, while X7PS.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
UD03.L UBS ETF (LU) Factor MSCI EMU Prime Value UCITS ETF (EUR) A-dis | 2.46% | 2.98% | 2.83% | 3.66% | 3.82% | 3.47% | 2.06% | 3.57% | 4.89% | 2.14% |
X7PS.L Invesco STOXX Europe 600 Optimised Banks UCITS ETF EUR (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
UD03.L and X7PS.L have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, X7PS.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
X7PS.L is cheaper with a 0.20% expense ratio, compared with 0.28% for UD03.L.
UD03.L tracks MSCI EMU NR EUR, while X7PS.L tracks STOXX Europe 600 Optimised Banks Index (EUR). They also come from different issuers: UBS and Invesco. Their fees differ too: 0.28% for UD03.L and 0.20% for X7PS.L.
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