X7PS.L vs. 0Y8Z.L
X7PS.L (Invesco STOXX Europe 600 Optimised Banks UCITS ETF EUR (Acc)) and 0Y8Z.L (iShares Core MSCI EMU UCITS ETF EUR (Dist)) are both Europe Equities funds - X7PS.L tracks the STOXX Europe 600 Optimised Banks Index (EUR) while 0Y8Z.L tracks the MSCI EMU Net Index (EUR). Both are passively managed. Over the past 3 years, X7PS.L returned 43.64%/yr vs 15.70%/yr for 0Y8Z.L. At a 0.39 correlation, their price movements are largely independent. X7PS.L charges 0.20%/yr vs 0.12%/yr for 0Y8Z.L.
Performance
X7PS.L vs. 0Y8Z.L - Performance Comparison
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Returns By Period
In the year-to-date period, X7PS.L achieves a 16.55% return, which is significantly higher than 0Y8Z.L's 10.50% return.
X7PS.L
- 1D
- -1.11%
- 1M
- 1.77%
- 6M
- 12.78%
- YTD
- 16.55%
- 1Y
- 50.38%
- 3Y*
- 43.64%
- 5Y*
- 31.77%
- 10Y*
- 16.22%
0Y8Z.L
- 1D
- -0.68%
- 1M
- -1.47%
- 6M
- 6.47%
- YTD
- 10.50%
- 1Y
- 20.10%
- 3Y*
- 15.70%
- 5Y*
- —
- 10Y*
- —
X7PS.L vs. 0Y8Z.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
X7PS.L Invesco STOXX Europe 600 Optimised Banks UCITS ETF EUR (Acc) | 16.55% | 78.30% | 33.17% | 25.70% | 19.30% |
0Y8Z.L iShares Core MSCI EMU UCITS ETF EUR (Dist) | 10.50% | 24.83% | 8.63% | 15.41% | 1.14% |
Correlation
The correlation between X7PS.L and 0Y8Z.L is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Jul 25, 2022 | 0.39 |
The correlation between X7PS.L and 0Y8Z.L shifts across timeframes, from 0.39 (all time) to 0.57 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
X7PS.L vs. 0Y8Z.L — Risk / Return Rank
X7PS.L
0Y8Z.L
X7PS.L vs. 0Y8Z.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco STOXX Europe 600 Optimised Banks UCITS ETF EUR (Acc) (X7PS.L) and iShares Core MSCI EMU UCITS ETF EUR (Dist) (0Y8Z.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.
| X7PS.L | 0Y8Z.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.94 | ||
| Sortino ratioReturn per unit of downside risk | +1.03 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.25 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 3.04 | 2.05 | +0.99 |
| Martin ratioReturn relative to average drawdown | 10.00 | 7.79 | +2.21 |
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Drawdowns
X7PS.L vs. 0Y8Z.L - Drawdown Comparison
The maximum X7PS.L drawdown since its inception was -60.64%, which is greater than 0Y8Z.L's maximum drawdown of -14.60%. Use the drawdown chart below to compare losses from any high point for X7PS.L and 0Y8Z.L.
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Drawdown Indicators
| X7PS.L | 0Y8Z.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.64% | -14.60% | -46.04% |
Max Drawdown (1Y)Largest decline over 1 year | -16.49% | -10.00% | -6.49% |
Max Drawdown (3Y)Largest decline over 3 years | -20.14% | -14.60% | -5.54% |
Max Drawdown (5Y)Largest decline over 5 years | -29.70% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -56.51% | — | — |
Current DrawdownCurrent decline from peak | -2.10% | -3.44% | +1.34% |
Average DrawdownAverage peak-to-trough decline | -17.84% | -2.23% | -15.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.02% | 2.61% | +2.41% |
Volatility
X7PS.L vs. 0Y8Z.L - Volatility Comparison
Invesco STOXX Europe 600 Optimised Banks UCITS ETF EUR (Acc) (X7PS.L) has a higher volatility of 5.59% compared to iShares Core MSCI EMU UCITS ETF EUR (Dist) (0Y8Z.L) at 4.03%. This indicates that X7PS.L's price experiences larger fluctuations and is considered to be riskier than 0Y8Z.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| X7PS.L | 0Y8Z.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.59% | 4.03% | +1.56% |
Volatility (6M)Calculated over the trailing 6-month period | 18.93% | 13.24% | +5.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.42% | 15.76% | +6.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.71% | 18.99% | +4.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.86% | 18.99% | +5.87% |
X7PS.L vs. 0Y8Z.L - Expense Ratio Comparison
X7PS.L has a 0.20% expense ratio, which is higher than 0Y8Z.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
X7PS.L vs. 0Y8Z.L - Dividend Comparison
X7PS.L has not paid dividends to shareholders, while 0Y8Z.L's dividend yield for the trailing twelve months is around 2.33%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
0Y8Z.L iShares Core MSCI EMU UCITS ETF EUR (Dist) | 2.33% | 2.53% | 2.41% |
X7PS.L Invesco STOXX Europe 600 Optimised Banks UCITS ETF EUR (Acc) | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
X7PS.L and 0Y8Z.L have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, 0Y8Z.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
0Y8Z.L is cheaper with a 0.12% expense ratio, compared with 0.20% for X7PS.L.
X7PS.L tracks STOXX Europe 600 Optimised Banks Index (EUR), while 0Y8Z.L tracks MSCI EMU Net Index (EUR). They also come from different issuers: Invesco and iShares. Their fees differ too: 0.20% for X7PS.L and 0.12% for 0Y8Z.L.
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