This paper proposes a new polarization-independent Sagnac birefringence loop structure-based multiwavelength-periodic filter and presents measurements and analysis of its spectrum. The filter can be used in several schemes by adjusting the orientation angles of two quarter waveplates and the operating characteristics in the reflection type are analyzed including dispersion and polarization mode dispersion at each principal axis. This filter has polarization-independent spectra but a polarization-dependent dispersion, consequently polarization mode dispersion whose values changes with operating schemes.