X7PS.L vs. CMB1.L
X7PS.L (Invesco STOXX Europe 600 Optimised Banks UCITS ETF) and CMB1.L (iShares FTSE MIB UCITS ETF (Acc)) are both Europe Equities funds - X7PS.L tracks the Invesco STOXX Europe 600 Optimised Banks UCITS ETF while CMB1.L tracks the FTSE Italia AllShare TR EUR. Both are passively managed. Over the past 10 years, X7PS.L returned 16.30%/yr vs 16.08%/yr for CMB1.L. A 0.76 correlation means they provide meaningful diversification when combined. X7PS.L charges 0.30%/yr vs 0.33%/yr for CMB1.L.
Performance
X7PS.L vs. CMB1.L - Performance Comparison
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Different Trading Currencies
X7PS.L is traded in EUR, while CMB1.L is traded in GBp. To make them comparable, the CMB1.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, X7PS.L achieves a 17.93% return, which is significantly lower than CMB1.L's 20.34% return. Both investments have delivered pretty close results over the past 10 years, with X7PS.L having a 16.30% annualized return and CMB1.L not far behind at 16.08%.
X7PS.L
- 1D
- 0.13%
- 1M
- 6.39%
- 6M
- 14.44%
- YTD
- 17.93%
- 1Y
- 53.36%
- 3Y*
- 44.72%
- 5Y*
- 32.08%
- 10Y*
- 16.30%
CMB1.L
- 1D
- -0.84%
- 1M
- 1.47%
- 6M
- 17.90%
- YTD
- 20.34%
- 1Y
- 37.10%
- 3Y*
- 28.04%
- 5Y*
- 21.64%
- 10Y*
- 16.08%
X7PS.L vs. CMB1.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
X7PS.L Invesco STOXX Europe 600 Optimised Banks UCITS ETF | 17.93% | 78.30% | 33.17% | 25.70% | 0.44% | 38.22% | -22.81% | 13.99% | -26.23% | 11.67% |
CMB1.L iShares FTSE MIB UCITS ETF (Acc) | 20.34% | 36.33% | 18.72% | 33.45% | -8.53% | 25.99% | -4.00% | 32.77% | -14.85% | 17.65% |
Correlation
The correlation between X7PS.L and CMB1.L is 0.82, 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 | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Aug 17, 2011 | 0.76 |
The correlation between X7PS.L and CMB1.L has been stable across timeframes, ranging from 0.74 to 0.82 - a consistent structural relationship.
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Return for Risk
X7PS.L vs. CMB1.L — Risk / Return Rank
X7PS.L
CMB1.L
X7PS.L vs. CMB1.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco STOXX Europe 600 Optimised Banks UCITS ETF (X7PS.L) and iShares FTSE MIB UCITS ETF (Acc) (CMB1.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 | CMB1.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.43 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.24 | 3.95 | -0.71 |
| Martin ratioReturn relative to average drawdown | 10.66 | 14.30 | -3.64 |
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Drawdowns
X7PS.L vs. CMB1.L - Drawdown Comparison
The maximum X7PS.L drawdown since its inception was -60.64%, which is greater than CMB1.L's maximum drawdown of -52.45%. Use the drawdown chart below to compare losses from any high point for X7PS.L and CMB1.L.
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Drawdown Indicators
| X7PS.L | CMB1.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.64% | -52.45% | -8.19% |
Max Drawdown (1Y)Largest decline over 1 year | -16.49% | -9.35% | -7.14% |
Max Drawdown (3Y)Largest decline over 3 years | -20.14% | -17.56% | -2.58% |
Max Drawdown (5Y)Largest decline over 5 years | -29.70% | -25.02% | -4.68% |
Max Drawdown (10Y)Largest decline over 10 years | -56.51% | -41.13% | -15.38% |
Current DrawdownCurrent decline from peak | -0.94% | -0.85% | -0.09% |
Average DrawdownAverage peak-to-trough decline | -17.85% | -14.46% | -3.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.02% | 2.59% | +2.43% |
Volatility
X7PS.L vs. CMB1.L - Volatility Comparison
Invesco STOXX Europe 600 Optimised Banks UCITS ETF (X7PS.L) has a higher volatility of 5.45% compared to iShares FTSE MIB UCITS ETF (Acc) (CMB1.L) at 3.70%. This indicates that X7PS.L's price experiences larger fluctuations and is considered to be riskier than CMB1.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 | CMB1.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.45% | 3.70% | +1.75% |
Volatility (6M)Calculated over the trailing 6-month period | 18.89% | 12.43% | +6.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.39% | 15.22% | +7.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.71% | 18.12% | +5.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.86% | 20.25% | +4.61% |
X7PS.L vs. CMB1.L - Expense Ratio Comparison
X7PS.L has a 0.30% expense ratio, which is lower than CMB1.L's 0.33% expense ratio.
Dividends
X7PS.L vs. CMB1.L - Dividend Comparison
Neither X7PS.L nor CMB1.L has paid dividends to shareholders.
Frequently Asked Questions
X7PS.L and CMB1.L have a correlation of 0.82, 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 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
X7PS.L is cheaper with a 0.30% expense ratio, compared with 0.33% for CMB1.L.
X7PS.L tracks Invesco STOXX Europe 600 Optimised Banks UCITS ETF, while CMB1.L tracks FTSE Italia AllShare TR EUR. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.30% for X7PS.L and 0.33% for CMB1.L.
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