X7PP.L vs. SPEP.L

Last updated Jun 5, 2026

X7PP.L (Invesco European Banks Sector UCITS ETF) and SPEP.L (Invesco S&P 500 Scored & Screened ETF Acc) are both exchange-traded funds - X7PP.L is a Financials Equities fund tracking the MSCI World/Financials NR USD, while SPEP.L is a S&P 500 fund tracking the S&P 500 ESG Index. Both are passively managed. Over the past 5 years, X7PP.L returned 27.44%/yr vs 15.83%/yr for SPEP.L. At a 0.39 correlation, their price movements are largely independent. X7PP.L charges 0.20%/yr vs 0.09%/yr for SPEP.L.

Performance

X7PP.L vs. SPEP.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco European Banks Sector UCITS ETF (X7PP.L) and Invesco S&P 500 Scored & Screened ETF Acc (SPEP.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, X7PP.L achieves a 5.21% return, which is significantly lower than SPEP.L's 10.28% return.

X7PP.L

• 1D: 0.44%
• 1M: 6.36%
• YTD: 5.21%
• 6M: 11.61%
• 1Y: 43.21%
• 3Y*: 42.86%
• 5Y*: 27.44%
• 10Y*: 14.91%

SPEP.L

• 1D: 0.69%
• 1M: 5.80%
• YTD: 10.28%
• 6M: 10.71%
• 1Y: 32.26%
• 3Y*: 18.76%
• 5Y*: 15.83%
• 10Y*: —

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

X7PP.L vs. SPEP.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
X7PP.L Invesco European Banks Sector UCITS ETF	5.21%	87.77%	27.07%	23.27%	6.04%	29.16%	11.97%
SPEP.L Invesco S&P 500 Scored & Screened ETF Acc	10.28%	9.94%	26.61%	21.47%	-8.87%	34.78%	21.63%

Correlation

The correlation between X7PP.L and SPEP.L is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (5Y) Calculated over the trailing 5-year period	0.37
Correlation (All Time) Calculated using the full available price history since Mar 11, 2020	0.39

The correlation between X7PP.L and SPEP.L shifts across timeframes, from 0.32 (3 years) to 0.43 (1 year), reflecting how their relationship changes across market environments.

X7PP.L vs. SPEP.L - Sectors Allocation Comparison

Sectors	X7PP.L	SPEP.L
Financial Services	100.0%	12.0%
Basic Materials	-	1.9%
Communication Services	-	14.5%
Consumer Cyclical	-	4.6%
Consumer Defensive	-	5.1%
Energy	-	4.2%
Healthcare	-	9.3%
Industrials	-	6.8%
Real Estate	-	2.2%
Technology	-	38.6%
Utilities	-	0.8%

Return for Risk

X7PP.L vs. SPEP.L — Risk / Return Rank

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

X7PP.L

X7PP.L Risk / Return Rank: 56
X7PP.L Sharpe Ratio Rank: 60
X7PP.L Sortino Ratio Rank: 57
X7PP.L Omega Ratio Rank: 54
X7PP.L Calmar Ratio Rank: 56
X7PP.L Martin Ratio Rank: 54

SPEP.L

SPEP.L Risk / Return Rank: 35
SPEP.L Sharpe Ratio Rank: 22
SPEP.L Sortino Ratio Rank: 27
SPEP.L Omega Ratio Rank: 83
SPEP.L Calmar Ratio Rank: 25
SPEP.L Martin Ratio Rank: 18

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.

X7PP.L vs. SPEP.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco European Banks Sector UCITS ETF (X7PP.L) and Invesco S&P 500 Scored & Screened ETF Acc (SPEP.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.

	X7PP.L	SPEP.L	Difference
Sharpe ratio: Return per unit of total volatility	1.98	0.74	+1.23
Sortino ratio: Return per unit of downside risk	2.68	1.46	+1.21
Omega ratio: Gain probability vs. loss probability	1.33	1.49	-0.16
Calmar ratio: Return relative to maximum drawdown	2.70	1.15	+1.54
Martin ratio: Return relative to average drawdown	9.03	1.79	+7.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

X7PP.L vs. SPEP.L - Sharpe Ratio Comparison

The current X7PP.L Sharpe Ratio is 1.98, which is higher than the SPEP.L Sharpe Ratio of 0.74. The chart below compares the historical Sharpe Ratios of X7PP.L and SPEP.L, 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

	X7PP.L	SPEP.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.98	0.74	+1.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.17	0.50	+0.67
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.61	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.60	-0.18

Drawdowns

X7PP.L vs. SPEP.L - Drawdown Comparison

The maximum X7PP.L drawdown since its inception was -56.28%, which is greater than SPEP.L's maximum drawdown of -27.82%. Use the drawdown chart below to compare losses from any high point for X7PP.L and SPEP.L.

Drawdown Indicators

	X7PP.L	SPEP.L	Difference
Max Drawdown Largest peak-to-trough decline	-56.28%	-27.82%	-28.46%
Max Drawdown (1Y) Largest decline over 1 year	-15.94%	-27.82%	+11.88%
Max Drawdown (3Y) Largest decline over 3 years	-18.17%	-27.82%	+9.65%
Max Drawdown (5Y) Largest decline over 5 years	-30.79%	-27.82%	-2.97%
Max Drawdown (10Y) Largest decline over 10 years	-56.28%	—	—
Current Drawdown Current decline from peak	-1.64%	-15.76%	+14.12%
Average Drawdown Average peak-to-trough decline	-15.39%	-7.47%	-7.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.77%	17.93%	-13.16%

Volatility

X7PP.L vs. SPEP.L - Volatility Comparison

Invesco European Banks Sector UCITS ETF (X7PP.L) has a higher volatility of 6.19% compared to Invesco S&P 500 Scored & Screened ETF Acc (SPEP.L) at 2.84%. This indicates that X7PP.L's price experiences larger fluctuations and is considered to be riskier than SPEP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	X7PP.L	SPEP.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.19%	2.84%	+3.35%
Volatility (6M) Calculated over the trailing 6-month period	17.80%	7.09%	+10.71%
Volatility (1Y) Calculated over the trailing 1-year period	21.78%	43.32%	-21.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.48%	31.49%	-8.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.63%	30.09%	-5.46%

X7PP.L vs. SPEP.L - Expense Ratio Comparison

X7PP.L has a 0.20% expense ratio, which is higher than SPEP.L's 0.09% 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

X7PP.L vs. SPEP.L - Dividend Comparison

Neither X7PP.L nor SPEP.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both X7PP.L and SPEP.L in my portfolio?

X7PP.L and SPEP.L have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, X7PP.L or SPEP.L?

On fees, SPEP.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, X7PP.L or SPEP.L?

SPEP.L is cheaper with a 0.09% expense ratio, compared with 0.20% for X7PP.L.

What is the main difference between X7PP.L and SPEP.L?

X7PP.L is categorized as Financials Equities, while SPEP.L is S&P 500. X7PP.L tracks MSCI World/Financials NR USD, while SPEP.L tracks S&P 500 ESG Index. Their fees differ too: 0.20% for X7PP.L and 0.09% for SPEP.L.