X7PP.L vs. SPYZ.DE
X7PP.L (Invesco European Banks Sector UCITS ETF) and SPYZ.DE (SPDR MSCI Europe Financials UCITS ETF) are both Financials Equities funds - X7PP.L tracks the MSCI World/Financials NR USD while SPYZ.DE tracks the MSCI Europe Financials 20/35 Capped. Both are passively managed. Over the past 10 years, X7PP.L returned 14.91%/yr vs 13.33%/yr for SPYZ.DE. Their correlation of 0.90 suggests significant overlap in exposure. X7PP.L charges 0.20%/yr vs 0.18%/yr for SPYZ.DE.
Performance
X7PP.L vs. SPYZ.DE - Performance Comparison
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Different Trading Currencies
X7PP.L is traded in GBp, while SPYZ.DE is traded in EUR. To make them comparable, the SPYZ.DE values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, X7PP.L achieves a 5.21% return, which is significantly higher than SPYZ.DE's 2.49% return. Over the past 10 years, X7PP.L has outperformed SPYZ.DE with an annualized return of 14.91%, while SPYZ.DE has yielded a comparatively lower 13.33% annualized 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%
SPYZ.DE
- 1D
- 0.68%
- 1M
- 3.71%
- YTD
- 2.49%
- 6M
- 8.83%
- 1Y
- 25.72%
- 3Y*
- 28.93%
- 5Y*
- 19.55%
- 10Y*
- 13.33%
X7PP.L vs. SPYZ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
X7PP.L Invesco European Banks Sector UCITS ETF | 5.21% | 87.77% | 27.07% | 23.27% | 6.04% | 29.16% | -18.50% | 8.33% | -25.45% | 15.44% |
SPYZ.DE SPDR MSCI Europe Financials UCITS ETF | 2.49% | 55.97% | 19.77% | 19.09% | 2.83% | 19.15% | -10.54% | 17.57% | -18.46% | 17.10% |
Correlation
The correlation between X7PP.L and SPYZ.DE is 0.90, 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 | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 2014 | 0.90 |
The correlation between X7PP.L and SPYZ.DE has been stable across timeframes, ranging from 0.89 to 0.91 - a consistent structural relationship.
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Return for Risk
X7PP.L vs. SPYZ.DE — Risk / Return Rank
X7PP.L
SPYZ.DE
X7PP.L vs. SPYZ.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco European Banks Sector UCITS ETF (X7PP.L) and SPDR MSCI Europe Financials UCITS ETF (SPYZ.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.
| X7PP.L | SPYZ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.50 | ||
| Sortino ratioReturn per unit of downside risk | +0.58 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.25 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.70 | 2.12 | +0.58 |
| Martin ratioReturn relative to average drawdown | 9.03 | 7.35 | +1.68 |
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
| X7PP.L | SPYZ.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.98 | 1.48 | +0.50 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.17 | 1.04 | +0.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.61 | 0.65 | -0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.50 | -0.08 |
Drawdowns
X7PP.L vs. SPYZ.DE - Drawdown Comparison
The maximum X7PP.L drawdown since its inception was -56.28%, which is greater than SPYZ.DE's maximum drawdown of -42.24%. Use the drawdown chart below to compare losses from any high point for X7PP.L and SPYZ.DE.
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Drawdown Indicators
| X7PP.L | SPYZ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.28% | -42.24% | -14.04% |
Max Drawdown (1Y)Largest decline over 1 year | -15.94% | -12.09% | -3.85% |
Max Drawdown (3Y)Largest decline over 3 years | -18.17% | -14.89% | -3.28% |
Max Drawdown (5Y)Largest decline over 5 years | -30.79% | -23.78% | -7.01% |
Max Drawdown (10Y)Largest decline over 10 years | -56.28% | -42.24% | -14.04% |
Current DrawdownCurrent decline from peak | -1.64% | -2.39% | +0.75% |
Average DrawdownAverage peak-to-trough decline | -15.39% | -8.56% | -6.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.77% | 3.49% | +1.28% |
Volatility
X7PP.L vs. SPYZ.DE - Volatility Comparison
Invesco European Banks Sector UCITS ETF (X7PP.L) has a higher volatility of 6.19% compared to SPDR MSCI Europe Financials UCITS ETF (SPYZ.DE) at 4.97%. This indicates that X7PP.L's price experiences larger fluctuations and is considered to be riskier than SPYZ.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| X7PP.L | SPYZ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.19% | 4.97% | +1.22% |
Volatility (6M)Calculated over the trailing 6-month period | 17.80% | 14.34% | +3.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.78% | 17.33% | +4.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.48% | 18.67% | +4.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.63% | 20.46% | +4.17% |
X7PP.L vs. SPYZ.DE - Expense Ratio Comparison
X7PP.L has a 0.20% expense ratio, which is higher than SPYZ.DE's 0.18% 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. SPYZ.DE - Dividend Comparison
Neither X7PP.L nor SPYZ.DE has paid dividends to shareholders.
Frequently Asked Questions
X7PP.L and SPYZ.DE have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPYZ.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYZ.DE is cheaper with a 0.18% expense ratio, compared with 0.20% for X7PP.L.
X7PP.L tracks MSCI World/Financials NR USD, while SPYZ.DE tracks MSCI Europe Financials 20/35 Capped. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.20% for X7PP.L and 0.18% for SPYZ.DE.
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