XWFS.L vs. FNCW.L
XWFS.L (Xtrackers MSCI World Financials UCITS ETF 1C) and FNCW.L (SPDR MSCI World 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, XWFS.L returned 20.16%/yr vs 20.10%/yr for FNCW.L. Their correlation of 0.95 suggests significant overlap in exposure. XWFS.L charges 0.25%/yr vs 0.30%/yr for FNCW.L.
Performance
XWFS.L vs. FNCW.L - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with XWFS.L having a -1.42% return and FNCW.L slightly lower at -1.45%.
XWFS.L
- 1D
- -0.98%
- 1M
- -0.19%
- YTD
- -1.42%
- 6M
- 2.61%
- 1Y
- 13.19%
- 3Y*
- 20.16%
- 5Y*
- —
- 10Y*
- —
FNCW.L
- 1D
- -0.99%
- 1M
- -0.21%
- YTD
- -1.45%
- 6M
- 2.49%
- 1Y
- 13.26%
- 3Y*
- 20.10%
- 5Y*
- —
- 10Y*
- —
XWFS.L vs. FNCW.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XWFS.L Xtrackers MSCI World Financials UCITS ETF 1C | -1.42% | 20.20% | 29.08% | 10.02% | -0.12% |
FNCW.L SPDR MSCI World Financials UCITS ETF | -1.45% | 20.39% | 28.76% | 9.92% | -0.09% |
Correlation
The correlation between XWFS.L and FNCW.L is 0.99 - 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 | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2022 | 0.95 |
The correlation between XWFS.L and FNCW.L has been stable across timeframes, ranging from 0.93 to 0.99 - a consistent structural relationship.
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Return for Risk
XWFS.L vs. FNCW.L — Risk / Return Rank
XWFS.L
FNCW.L
XWFS.L vs. FNCW.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI World Financials UCITS ETF 1C (XWFS.L) and SPDR MSCI World Financials UCITS ETF (FNCW.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.
| XWFS.L | FNCW.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.19 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.36 | 1.38 | -0.02 |
| Martin ratioReturn relative to average drawdown | 4.37 | 4.41 | -0.04 |
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
| XWFS.L | FNCW.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.06 | 1.08 | -0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.82 | 0.88 | -0.07 |
Drawdowns
XWFS.L vs. FNCW.L - Drawdown Comparison
The maximum XWFS.L drawdown since its inception was -16.47%, roughly equal to the maximum FNCW.L drawdown of -16.31%. Use the drawdown chart below to compare losses from any high point for XWFS.L and FNCW.L.
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Drawdown Indicators
| XWFS.L | FNCW.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.47% | -16.31% | -0.16% |
Max Drawdown (1Y)Largest decline over 1 year | -9.64% | -9.55% | -0.09% |
Max Drawdown (3Y)Largest decline over 3 years | -16.47% | -16.31% | -0.16% |
Current DrawdownCurrent decline from peak | -2.91% | -2.98% | +0.07% |
Average DrawdownAverage peak-to-trough decline | -4.11% | -3.76% | -0.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.01% | 3.00% | +0.01% |
Volatility
XWFS.L vs. FNCW.L - Volatility Comparison
The current volatility for Xtrackers MSCI World Financials UCITS ETF 1C (XWFS.L) is 2.90%, while SPDR MSCI World Financials UCITS ETF (FNCW.L) has a volatility of 3.18%. This indicates that XWFS.L experiences smaller price fluctuations and is considered to be less risky than FNCW.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XWFS.L | FNCW.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.90% | 3.18% | -0.28% |
Volatility (6M)Calculated over the trailing 6-month period | 9.62% | 9.41% | +0.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.43% | 12.28% | +0.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.02% | 15.00% | +1.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.02% | 15.00% | +1.02% |
XWFS.L vs. FNCW.L - Expense Ratio Comparison
XWFS.L has a 0.25% expense ratio, which is lower than FNCW.L's 0.30% expense ratio.
Dividends
XWFS.L vs. FNCW.L - Dividend Comparison
Neither XWFS.L nor FNCW.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.99, XWFS.L and FNCW.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, XWFS.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XWFS.L is cheaper with a 0.25% expense ratio, compared with 0.30% for FNCW.L.
Both ETFs track MSCI World/Financials NR USD. They also come from different issuers: Xtrackers and State Street. Their fees differ too: 0.25% for XWFS.L and 0.30% for FNCW.L.
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