WDFE.L vs. FNCE.L

Last updated Apr 1, 2026

Compare and contrast key facts about Invesco S&P World Financials ESG UCITS ETF Acc (WDFE.L) and SPDR MSCI Europe Financials UCITS ETF (FNCE.L).

WDFE.L and FNCE.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. WDFE.L is a passively managed fund by Invesco that tracks the performance of the S&P World ESG Enhanced Financials Index. It was launched on Apr 12, 2023. FNCE.L is a passively managed fund by State Street that tracks the performance of the MSCI World/Financials NR USD. It was launched on Dec 5, 2014. Both WDFE.L and FNCE.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

WDFE.L vs. FNCE.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P World Financials ESG UCITS ETF Acc (WDFE.L) and SPDR MSCI Europe Financials UCITS ETF (FNCE.L). The values are adjusted to include any dividend payments, if applicable.

WDFE.L vs. FNCE.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
WDFE.L Invesco S&P World Financials ESG UCITS ETF Acc	-7.57%	27.03%	25.78%	15.69%
FNCE.L SPDR MSCI Europe Financials UCITS ETF	-8.03%	66.18%	18.28%	14.64%

Different Trading Currencies

WDFE.L is traded in USD, while FNCE.L is traded in GBP. To make them comparable, the FNCE.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, WDFE.L achieves a -7.57% return, which is significantly higher than FNCE.L's -8.03% return.

WDFE.L

• 1D: 0.65%
• 1M: -6.68%
• YTD: -7.57%
• 6M: -1.48%
• 1Y: 11.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FNCE.L

• 1D: 1.90%
• 1M: -10.33%
• YTD: -8.03%
• 6M: 1.41%
• 1Y: 25.86%
• 3Y*: 28.99%
• 5Y*: —
• 10Y*: —

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

WDFE.L vs. FNCE.L - Expense Ratio Comparison

Both WDFE.L and FNCE.L have an expense ratio of 0.18%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

WDFE.L

Invesco S&P World Financials ESG UCITS ETF Acc

FNCE.L

SPDR MSCI Europe Financials UCITS ETF

Return for Risk

WDFE.L vs. FNCE.L — Risk / Return Rank

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

WDFE.L

WDFE.L Risk / Return Rank: 32
WDFE.L Sharpe Ratio Rank: 33
WDFE.L Sortino Ratio Rank: 32
WDFE.L Omega Ratio Rank: 32
WDFE.L Calmar Ratio Rank: 29
WDFE.L Martin Ratio Rank: 33

FNCE.L

FNCE.L Risk / Return Rank: 64
FNCE.L Sharpe Ratio Rank: 69
FNCE.L Sortino Ratio Rank: 63
FNCE.L Omega Ratio Rank: 63
FNCE.L Calmar Ratio Rank: 66
FNCE.L Martin Ratio Rank: 60

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.

WDFE.L vs. FNCE.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P World Financials ESG UCITS ETF Acc (WDFE.L) and SPDR MSCI Europe Financials UCITS ETF (FNCE.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.

	WDFE.L	FNCE.L	Difference
Sharpe ratio Return per unit of total volatility	0.64	1.21	-0.57
Sortino ratio Return per unit of downside risk	0.95	1.61	-0.66
Omega ratio Gain probability vs. loss probability	1.14	1.24	-0.10
Calmar ratio Return relative to maximum drawdown	0.73	1.66	-0.93
Martin ratio Return relative to average drawdown	2.97	5.80	-2.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WDFE.L vs. FNCE.L - Sharpe Ratio Comparison

The current WDFE.L Sharpe Ratio is 0.64, which is lower than the FNCE.L Sharpe Ratio of 1.21. The chart below compares the historical Sharpe Ratios of WDFE.L and FNCE.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	WDFE.L	FNCE.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.64	1.21	-0.57
Sharpe Ratio (All Time) Calculated using the full available price history	1.29	1.08	+0.22

Correlation

The correlation between WDFE.L and FNCE.L is 0.78, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

WDFE.L vs. FNCE.L - Dividend Comparison

Neither WDFE.L nor FNCE.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

WDFE.L vs. FNCE.L - Drawdown Comparison

The maximum WDFE.L drawdown since its inception was -16.10%, smaller than the maximum FNCE.L drawdown of -25.00%. Use the drawdown chart below to compare losses from any high point for WDFE.L and FNCE.L.

Drawdown Indicators

	WDFE.L	FNCE.L	Difference
Max Drawdown Largest peak-to-trough decline	-16.10%	-14.71%	-1.39%
Max Drawdown (1Y) Largest decline over 1 year	-13.76%	-12.90%	-0.86%
Current Drawdown Current decline from peak	-9.10%	-8.96%	-0.14%
Average Drawdown Average peak-to-trough decline	-2.16%	-3.04%	+0.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.37%	3.55%	-0.18%

Volatility

WDFE.L vs. FNCE.L - Volatility Comparison

The current volatility for Invesco S&P World Financials ESG UCITS ETF Acc (WDFE.L) is 5.67%, while SPDR MSCI Europe Financials UCITS ETF (FNCE.L) has a volatility of 8.74%. This indicates that WDFE.L experiences smaller price fluctuations and is considered to be less risky than FNCE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WDFE.L	FNCE.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.67%	8.74%	-3.07%
Volatility (6M) Calculated over the trailing 6-month period	9.90%	13.95%	-4.05%
Volatility (1Y) Calculated over the trailing 1-year period	17.50%	21.37%	-3.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.30%	20.36%	-5.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.30%	20.36%	-5.06%