500P.L vs. SPEX.L

Last updated Jun 5, 2026

500P.L (Franklin S&P 500 Paris Aligned Climate UCITS ETF) and SPEX.L (Invesco S&P 500 Equal Weight UCITS ETF Acc) are both S&P 500 funds - 500P.L tracks the S&P 500 Net Zero 2050 Paris-Aligned ESG Index while SPEX.L tracks the S&P 500 Equal Weight Index. Both are passively managed. Over the past 5 years, 500P.L returned 14.50%/yr vs 9.41%/yr for SPEX.L. A 0.80 correlation means they provide meaningful diversification when combined. 500P.L charges 0.07%/yr vs 0.20%/yr for SPEX.L.

Performance

500P.L vs. SPEX.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Franklin S&P 500 Paris Aligned Climate UCITS ETF (500P.L) and Invesco S&P 500 Equal Weight UCITS ETF Acc (SPEX.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

500P.L is traded in GBP, while SPEX.L is traded in GBp. To make them comparable, the SPEX.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, 500P.L achieves a 8.20% return, which is significantly lower than SPEX.L's 9.62% return.

500P.L

• 1D: 0.21%
• 1M: 7.03%
• YTD: 8.20%
• 6M: 8.34%
• 1Y: 24.84%
• 3Y*: 18.32%
• 5Y*: 14.50%
• 10Y*: —

SPEX.L

• 1D: 0.47%
• 1M: 4.77%
• YTD: 9.62%
• 6M: 10.01%
• 1Y: 21.02%
• 3Y*: 12.25%
• 5Y*: 9.41%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

500P.L vs. SPEX.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
500P.L Franklin S&P 500 Paris Aligned Climate UCITS ETF	8.20%	7.74%	28.94%	23.30%	-12.86%	22.05%
SPEX.L Invesco S&P 500 Equal Weight UCITS ETF Acc	9.62%	3.90%	14.09%	7.64%	-1.17%	28.05%

Correlation

The correlation between 500P.L and SPEX.L is 0.66, 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	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (All Time) Calculated using the full available price history since Apr 9, 2021	0.80

The correlation between 500P.L and SPEX.L shifts across timeframes, from 0.66 (1 year) to 0.80 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

500P.L vs. SPEX.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

500P.L

500P.L Risk / Return Rank: 61
500P.L Sharpe Ratio Rank: 71
500P.L Sortino Ratio Rank: 70
500P.L Omega Ratio Rank: 72
500P.L Calmar Ratio Rank: 47
500P.L Martin Ratio Rank: 45

SPEX.L

SPEX.L Risk / Return Rank: 68
SPEX.L Sharpe Ratio Rank: 67
SPEX.L Sortino Ratio Rank: 67
SPEX.L Omega Ratio Rank: 66
SPEX.L Calmar Ratio Rank: 74
SPEX.L Martin Ratio Rank: 66

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

500P.L vs. SPEX.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin S&P 500 Paris Aligned Climate UCITS ETF (500P.L) and Invesco S&P 500 Equal Weight UCITS ETF Acc (SPEX.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.

	500P.L	SPEX.L	Difference
Sharpe ratio: Return per unit of total volatility	2.30	2.18	+0.12
Sortino ratio: Return per unit of downside risk	3.12	3.01	+0.11
Omega ratio: Gain probability vs. loss probability	1.42	1.39	+0.03
Calmar ratio: Return relative to maximum drawdown	2.29	3.65	-1.36
Martin ratio: Return relative to average drawdown	7.12	11.85	-4.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

500P.L vs. SPEX.L - Sharpe Ratio Comparison

The current 500P.L Sharpe Ratio is 2.30, which is comparable to the SPEX.L Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of 500P.L and SPEX.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	500P.L	SPEX.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.30	2.18	+0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.98	0.67	+0.31
Sharpe Ratio (All Time) Calculated using the full available price history	1.09	0.80	+0.28

Drawdowns

500P.L vs. SPEX.L - Drawdown Comparison

The maximum 500P.L drawdown since its inception was -20.32%, roughly equal to the maximum SPEX.L drawdown of -19.65%. Use the drawdown chart below to compare losses from any high point for 500P.L and SPEX.L.

Drawdown Indicators

	500P.L	SPEX.L	Difference
Max Drawdown Largest peak-to-trough decline	-20.32%	-19.65%	-0.67%
Max Drawdown (1Y) Largest decline over 1 year	-10.81%	-5.73%	-5.08%
Max Drawdown (3Y) Largest decline over 3 years	-20.32%	-19.65%	-0.67%
Max Drawdown (5Y) Largest decline over 5 years	-20.32%	-19.65%	-0.67%
Current Drawdown Current decline from peak	-0.10%	0.00%	-0.10%
Average Drawdown Average peak-to-trough decline	-4.18%	-4.12%	-0.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.48%	1.77%	+1.71%

Volatility

500P.L vs. SPEX.L - Volatility Comparison

Franklin S&P 500 Paris Aligned Climate UCITS ETF (500P.L) has a higher volatility of 2.61% compared to Invesco S&P 500 Equal Weight UCITS ETF Acc (SPEX.L) at 1.97%. This indicates that 500P.L's price experiences larger fluctuations and is considered to be riskier than SPEX.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	500P.L	SPEX.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.61%	1.97%	+0.64%
Volatility (6M) Calculated over the trailing 6-month period	7.58%	6.62%	+0.96%
Volatility (1Y) Calculated over the trailing 1-year period	10.75%	9.62%	+1.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.84%	14.05%	+0.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.07%	14.60%	+0.47%

500P.L vs. SPEX.L - Expense Ratio Comparison

500P.L has a 0.07% expense ratio, which is lower than SPEX.L's 0.20% 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

500P.L vs. SPEX.L - Dividend Comparison

Neither 500P.L nor SPEX.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both 500P.L and SPEX.L in my portfolio?

500P.L and SPEX.L have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, 500P.L or SPEX.L?

On fees, 500P.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, 500P.L or SPEX.L?

500P.L is cheaper with a 0.07% expense ratio, compared with 0.20% for SPEX.L.

What is the main difference between 500P.L and SPEX.L?

500P.L tracks S&P 500 Net Zero 2050 Paris-Aligned ESG Index, while SPEX.L tracks S&P 500 Equal Weight Index. They also come from different issuers: Franklin and Invesco. Their fees differ too: 0.07% for 500P.L and 0.20% for SPEX.L.