X7PS.L vs. JRZD.L
X7PS.L (Invesco STOXX Europe 600 Optimised Banks UCITS ETF EUR (Acc)) and JRZD.L (JPM Eurozone Research Enhanced Index Equity Active UCITS ETF EUR (Dist)) are both Europe Equities funds. X7PS.L is passively managed, while JRZD.L is actively managed. Over the past 3 years, X7PS.L returned 43.64%/yr vs 16.12%/yr for JRZD.L. A 0.75 correlation means they provide meaningful diversification when combined. X7PS.L charges 0.20%/yr vs 0.25%/yr for JRZD.L.
Performance
X7PS.L vs. JRZD.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 JRZD.L's 12.63% 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%
JRZD.L
- 1D
- 0.15%
- 1M
- -0.29%
- 6M
- 8.56%
- YTD
- 12.63%
- 1Y
- 22.34%
- 3Y*
- 16.12%
- 5Y*
- —
- 10Y*
- —
X7PS.L vs. JRZD.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% | 9.68% |
JRZD.L JPM Eurozone Research Enhanced Index Equity Active UCITS ETF EUR (Dist) | 12.63% | 23.20% | 8.54% | 20.11% | 0.90% |
Correlation
The correlation between X7PS.L and JRZD.L is 0.81, 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 | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since May 4, 2022 | 0.75 |
The correlation between X7PS.L and JRZD.L has been stable across timeframes, ranging from 0.75 to 0.81 - a consistent structural relationship.
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Return for Risk
X7PS.L vs. JRZD.L — Risk / Return Rank
X7PS.L
JRZD.L
X7PS.L vs. JRZD.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 JPM Eurozone Research Enhanced Index Equity Active UCITS ETF EUR (Dist) (JRZD.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 | JRZD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.63 | ||
| Sortino ratioReturn per unit of downside risk | +0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.30 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.04 | 2.30 | +0.74 |
| Martin ratioReturn relative to average drawdown | 10.00 | 8.45 | +1.55 |
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Drawdowns
X7PS.L vs. JRZD.L - Drawdown Comparison
The maximum X7PS.L drawdown since its inception was -60.64%, which is greater than JRZD.L's maximum drawdown of -14.99%. Use the drawdown chart below to compare losses from any high point for X7PS.L and JRZD.L.
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Drawdown Indicators
| X7PS.L | JRZD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.64% | -14.99% | -45.65% |
Max Drawdown (1Y)Largest decline over 1 year | -16.49% | -10.30% | -6.19% |
Max Drawdown (3Y)Largest decline over 3 years | -20.14% | -14.78% | -5.36% |
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% | -2.03% | -0.07% |
Average DrawdownAverage peak-to-trough decline | -17.84% | -2.85% | -14.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.02% | 2.81% | +2.21% |
Volatility
X7PS.L vs. JRZD.L - Volatility Comparison
Invesco STOXX Europe 600 Optimised Banks UCITS ETF EUR (Acc) (X7PS.L) has a higher volatility of 5.59% compared to JPM Eurozone Research Enhanced Index Equity Active UCITS ETF EUR (Dist) (JRZD.L) at 4.24%. This indicates that X7PS.L's price experiences larger fluctuations and is considered to be riskier than JRZD.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 | JRZD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.59% | 4.24% | +1.35% |
Volatility (6M)Calculated over the trailing 6-month period | 18.93% | 12.35% | +6.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.42% | 14.79% | +7.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.71% | 15.53% | +8.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.86% | 15.53% | +9.33% |
X7PS.L vs. JRZD.L - Expense Ratio Comparison
X7PS.L has a 0.20% expense ratio, which is lower than JRZD.L's 0.25% expense ratio. Despite the difference, 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. JRZD.L - Dividend Comparison
X7PS.L has not paid dividends to shareholders, while JRZD.L's dividend yield for the trailing twelve months is around 2.29%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
JRZD.L JPM Eurozone Research Enhanced Index Equity Active UCITS ETF EUR (Dist) | 2.29% | 2.59% | 2.73% | 3.21% | 1.76% |
X7PS.L Invesco STOXX Europe 600 Optimised Banks UCITS ETF EUR (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
X7PS.L and JRZD.L have a correlation of 0.81, 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 0.25% for JRZD.L.
They also come from different issuers: Invesco and JPMorgan. Their fees differ too: 0.20% for X7PS.L and 0.25% for JRZD.L.
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