X7PS.L vs. IPXE.L
X7PS.L (Invesco STOXX Europe 600 Optimised Banks UCITS ETF EUR (Acc)) and IPXE.L (First Trust IPOX Europe Equity Opportunities UCITS ETF EUR (Acc)) are both Europe Equities funds - X7PS.L tracks the STOXX Europe 600 Optimised Banks Index (EUR) while IPXE.L tracks the IPOX 100 Europe Index. Both are passively managed. Over the past 5 years, X7PS.L returned 32.06%/yr vs 3.85%/yr for IPXE.L. A 0.54 correlation means they provide meaningful diversification when combined. X7PS.L charges 0.20%/yr vs 0.65%/yr for IPXE.L.
Performance
X7PS.L vs. IPXE.L - Performance Comparison
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Different Trading Currencies
X7PS.L is traded in EUR, while IPXE.L is traded in USD. To make them comparable, the IPXE.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 17.85% return, which is significantly higher than IPXE.L's 8.81% return.
X7PS.L
- 1D
- 0.07%
- 1M
- 4.65%
- 6M
- 13.84%
- YTD
- 17.85%
- 1Y
- 53.58%
- 3Y*
- 44.69%
- 5Y*
- 32.06%
- 10Y*
- 16.29%
IPXE.L
- 1D
- -1.15%
- 1M
- -6.86%
- 6M
- 6.09%
- YTD
- 8.81%
- 1Y
- 7.77%
- 3Y*
- 14.83%
- 5Y*
- 3.85%
- 10Y*
- —
X7PS.L vs. IPXE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
X7PS.L Invesco STOXX Europe 600 Optimised Banks UCITS ETF EUR (Acc) | 17.85% | 78.30% | 33.17% | 25.70% | 0.44% | 8.94% |
IPXE.L First Trust IPOX Europe Equity Opportunities UCITS ETF EUR (Acc) | 8.81% | 8.54% | 23.49% | 11.38% | -30.78% | 31.85% |
Correlation
The correlation between X7PS.L and IPXE.L is 0.65, 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 | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Jun 22, 2021 | 0.54 |
The correlation between X7PS.L and IPXE.L shifts across timeframes, from 0.54 (all time) to 0.65 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
X7PS.L vs. IPXE.L — Risk / Return Rank
X7PS.L
IPXE.L
X7PS.L vs. IPXE.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 First Trust IPOX Europe Equity Opportunities UCITS ETF EUR (Acc) (IPXE.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 | IPXE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.97 | ||
| Sortino ratioReturn per unit of downside risk | +2.38 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.09 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 3.23 | 0.86 | +2.37 |
| Martin ratioReturn relative to average drawdown | 10.64 | 2.25 | +8.39 |
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Drawdowns
X7PS.L vs. IPXE.L - Drawdown Comparison
The maximum X7PS.L drawdown since its inception was -60.64%, which is greater than IPXE.L's maximum drawdown of -39.85%. Use the drawdown chart below to compare losses from any high point for X7PS.L and IPXE.L.
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Drawdown Indicators
| X7PS.L | IPXE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.64% | -39.85% | -20.79% |
Max Drawdown (1Y)Largest decline over 1 year | -16.49% | -8.97% | -7.52% |
Max Drawdown (3Y)Largest decline over 3 years | -20.14% | -23.47% | +3.33% |
Max Drawdown (5Y)Largest decline over 5 years | -29.70% | -39.85% | +10.15% |
Max Drawdown (10Y)Largest decline over 10 years | -56.51% | — | — |
Current DrawdownCurrent decline from peak | -1.00% | -8.97% | +7.97% |
Average DrawdownAverage peak-to-trough decline | -17.85% | -16.17% | -1.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.02% | 3.45% | +1.57% |
Volatility
X7PS.L vs. IPXE.L - Volatility Comparison
Invesco STOXX Europe 600 Optimised Banks UCITS ETF EUR (Acc) (X7PS.L) and First Trust IPOX Europe Equity Opportunities UCITS ETF EUR (Acc) (IPXE.L) have volatilities of 5.45% and 5.64%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| X7PS.L | IPXE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.45% | 5.64% | -0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 18.89% | 16.33% | +2.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.39% | 18.79% | +3.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.71% | 20.68% | +3.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.86% | 22.61% | +2.25% |
X7PS.L vs. IPXE.L - Expense Ratio Comparison
X7PS.L has a 0.20% expense ratio, which is lower than IPXE.L's 0.65% expense ratio.
Dividends
X7PS.L vs. IPXE.L - Dividend Comparison
Neither X7PS.L nor IPXE.L has paid dividends to shareholders.
Frequently Asked Questions
X7PS.L and IPXE.L have a correlation of 0.65, 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 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
X7PS.L is cheaper with a 0.20% expense ratio, compared with 0.65% for IPXE.L.
X7PS.L tracks STOXX Europe 600 Optimised Banks Index (EUR), while IPXE.L tracks IPOX 100 Europe Index. They also come from different issuers: Invesco and First Trust. Their fees differ too: 0.20% for X7PS.L and 0.65% for IPXE.L.
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