XS7R.L vs. FNCE.L
XS7R.L (Xtrackers MSCI Europe Financials ESG Screened UCITS ETF 1C) and FNCE.L (SPDR MSCI Europe Financials UCITS ETF) are both Financials Equities funds tracking the MSCI World/Financials NR USD, from Xtrackers and State Street respectively. Both are passively managed. Over the past 3 years, XS7R.L returned 26.51%/yr vs 28.84%/yr for FNCE.L. Their correlation of 0.88 suggests significant overlap in exposure. XS7R.L charges 0.20%/yr vs 0.18%/yr for FNCE.L.
Performance
XS7R.L vs. FNCE.L - Performance Comparison
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Different Trading Currencies
XS7R.L is traded in GBp, while FNCE.L is traded in GBP. To make them comparable, the FNCE.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with XS7R.L having a 2.58% return and FNCE.L slightly higher at 2.59%.
XS7R.L
- 1D
- 0.42%
- 1M
- 3.51%
- YTD
- 2.58%
- 6M
- 9.20%
- 1Y
- 21.96%
- 3Y*
- 26.51%
- 5Y*
- 17.60%
- 10Y*
- 10.57%
FNCE.L
- 1D
- 0.44%
- 1M
- 3.72%
- YTD
- 2.59%
- 6M
- 8.72%
- 1Y
- 25.55%
- 3Y*
- 28.84%
- 5Y*
- —
- 10Y*
- —
XS7R.L vs. FNCE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XS7R.L Xtrackers MSCI Europe Financials ESG Screened UCITS ETF 1C | 2.58% | 47.44% | 18.33% | 20.38% | 5.81% |
FNCE.L SPDR MSCI Europe Financials UCITS ETF | 2.59% | 54.52% | 20.29% | 18.87% | 5.67% |
Correlation
The correlation between XS7R.L and FNCE.L is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2022 | 0.88 |
The correlation between XS7R.L and FNCE.L has been stable across timeframes, ranging from 0.88 to 0.97 - a consistent structural relationship.
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Return for Risk
XS7R.L vs. FNCE.L — Risk / Return Rank
XS7R.L
FNCE.L
XS7R.L vs. FNCE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Europe Financials ESG Screened UCITS ETF 1C (XS7R.L) and SPDR MSCI Europe Financials UCITS ETF (FNCE.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.
| XS7R.L | FNCE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.27 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.93 | 2.16 | -0.23 |
| Martin ratioReturn relative to average drawdown | 6.59 | 7.52 | -0.93 |
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
| XS7R.L | FNCE.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.35 | 1.49 | -0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.99 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.49 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.10 | 1.34 | -1.24 |
Drawdowns
XS7R.L vs. FNCE.L - Drawdown Comparison
The maximum XS7R.L drawdown since its inception was -66.04%, which is greater than FNCE.L's maximum drawdown of -14.71%. Use the drawdown chart below to compare losses from any high point for XS7R.L and FNCE.L.
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Drawdown Indicators
| XS7R.L | FNCE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.04% | -14.71% | -51.33% |
Max Drawdown (1Y)Largest decline over 1 year | -11.33% | -11.77% | +0.44% |
Max Drawdown (3Y)Largest decline over 3 years | -15.17% | -14.71% | -0.46% |
Max Drawdown (5Y)Largest decline over 5 years | -23.60% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -55.42% | — | — |
Current DrawdownCurrent decline from peak | -2.39% | -2.11% | -0.28% |
Average DrawdownAverage peak-to-trough decline | -26.41% | -3.02% | -23.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.32% | 3.39% | -0.07% |
Volatility
XS7R.L vs. FNCE.L - Volatility Comparison
The current volatility for Xtrackers MSCI Europe Financials ESG Screened UCITS ETF 1C (XS7R.L) is 5.07%, while SPDR MSCI Europe Financials UCITS ETF (FNCE.L) has a volatility of 5.39%. This indicates that XS7R.L experiences smaller price fluctuations and is considered to be less risky than FNCE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XS7R.L | FNCE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.07% | 5.39% | -0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 13.42% | 14.20% | -0.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.25% | 17.08% | -0.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.86% | 17.48% | +1.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.52% | 17.48% | +5.04% |
XS7R.L vs. FNCE.L - Expense Ratio Comparison
XS7R.L has a 0.20% expense ratio, which is higher than FNCE.L'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
XS7R.L vs. FNCE.L - Dividend Comparison
Neither XS7R.L nor FNCE.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.97, XS7R.L and FNCE.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, FNCE.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FNCE.L is cheaper with a 0.18% expense ratio, compared with 0.20% for XS7R.L.
Both ETFs track MSCI World/Financials NR USD. They also come from different issuers: Xtrackers and State Street. Their fees differ too: 0.20% for XS7R.L and 0.18% for FNCE.L.
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