5HED.L vs. G500.L

Last updated Jul 18, 2026

5HED.L (Ossiam ESG Low Carbon Shiller Barclays CAPE® US Sector UCITS ETF 1A (USD)) and G500.L (Invesco S&P 500 UCITS ETF GBP Hedged (Acc)) are both exchange-traded funds - 5HED.L is a Large Cap Blend Equities fund actively managed by Ossiam, while G500.L is a US Equities fund tracking the S&P 500 GBP Daily Hedged Index. 5HED.L is actively managed, while G500.L is passively managed. Over the past 5 years, 5HED.L returned 2.88%/yr vs 11.39%/yr for G500.L. A 0.74 correlation means they provide meaningful diversification when combined. 5HED.L charges 0.75%/yr vs 0.05%/yr for G500.L.

Performance

5HED.L vs. G500.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ossiam ESG Low Carbon Shiller Barclays CAPE® US Sector UCITS ETF 1A (USD) (5HED.L) and Invesco S&P 500 UCITS ETF GBP Hedged (Acc) (G500.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

5HED.L is traded in USD, while G500.L is traded in GBp. To make them comparable, the G500.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, 5HED.L achieves a 3.15% return, which is significantly lower than G500.L's 8.57% return.

5HED.L

• 1D: -0.11%
• 1M: 2.16%
• 6M: 1.64%
• YTD: 3.15%
• 1Y: 8.67%
• 3Y*: 4.27%
• 5Y*: 2.88%
• 10Y*: —

G500.L

• 1D: -1.46%
• 1M: 0.57%
• 6M: 8.27%
• YTD: 8.57%
• 1Y: 19.70%
• 3Y*: 20.22%
• 5Y*: 11.39%
• 10Y*: —

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

5HED.L vs. G500.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
5HED.L Ossiam ESG Low Carbon Shiller Barclays CAPE® US Sector UCITS ETF 1A (USD)	3.15%	4.27%	3.80%	15.96%	-16.20%	22.01%	28.60%
G500.L Invesco S&P 500 UCITS ETF GBP Hedged (Acc)	8.57%	26.32%	22.89%	31.47%	-28.53%	27.78%	32.88%

Correlation

The correlation between 5HED.L and G500.L is 0.51, 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	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (All Time) Calculated using the full available price history since Jun 30, 2020	0.74

Over the past year, the correlation between 5HED.L and G500.L has dropped to 0.51 - well below their long-term average of 0.74, suggesting their price drivers have been diverging.

Return for Risk

5HED.L vs. G500.L — Risk / Return Rank

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

5HED.L

5HED.L Risk / Return Rank: 26
5HED.L Sharpe Ratio Rank: 27
5HED.L Sortino Ratio Rank: 26
5HED.L Omega Ratio Rank: 24
5HED.L Calmar Ratio Rank: 26
5HED.L Martin Ratio Rank: 25

G500.L

G500.L Risk / Return Rank: 67
G500.L Sharpe Ratio Rank: 65
G500.L Sortino Ratio Rank: 70
G500.L Omega Ratio Rank: 64
G500.L Calmar Ratio Rank: 63
G500.L Martin Ratio Rank: 71

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.

5HED.L vs. G500.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ossiam ESG Low Carbon Shiller Barclays CAPE® US Sector UCITS ETF 1A (USD) (5HED.L) and Invesco S&P 500 UCITS ETF GBP Hedged (Acc) (G500.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.

	5HED.L	G500.L	Difference
Sharpe ratio: Return per unit of total volatility	0.74	1.30	-0.57
Sortino ratio: Return per unit of downside risk	1.12	1.99	-0.88
Omega ratio: Gain probability vs. loss probability	1.13	1.23	-0.10
Calmar ratio: Return relative to maximum drawdown	0.96	1.56	-0.60
Martin ratio: Return relative to average drawdown	2.40	5.87	-3.47

5HED.L vs. G500.L - Sharpe Ratio Comparison

The current 5HED.L Sharpe Ratio is 0.74, which is lower than the G500.L Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of 5HED.L and G500.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.

Drawdowns

5HED.L vs. G500.L - Drawdown Comparison

The maximum 5HED.L drawdown since its inception was -32.84%, smaller than the maximum G500.L drawdown of -39.54%. Use the drawdown chart below to compare losses from any high point for 5HED.L and G500.L.

Drawdown Indicators

	5HED.L	G500.L	Difference
Max Drawdown Largest peak-to-trough decline	-32.84%	-39.54%	+6.70%
Max Drawdown (1Y) Largest decline over 1 year	-8.95%	-12.56%	+3.61%
Max Drawdown (3Y) Largest decline over 3 years	-18.06%	-17.75%	-0.31%
Max Drawdown (5Y) Largest decline over 5 years	-22.17%	-39.54%	+17.37%
Current Drawdown Current decline from peak	-2.23%	-1.93%	-0.30%
Average Drawdown Average peak-to-trough decline	-5.73%	-8.08%	+2.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.60%	3.35%	+0.25%

Volatility

5HED.L vs. G500.L - Volatility Comparison

Ossiam ESG Low Carbon Shiller Barclays CAPE® US Sector UCITS ETF 1A (USD) (5HED.L) has a higher volatility of 4.08% compared to Invesco S&P 500 UCITS ETF GBP Hedged (Acc) (G500.L) at 3.77%. This indicates that 5HED.L's price experiences larger fluctuations and is considered to be riskier than G500.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	5HED.L	G500.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.08%	3.77%	+0.31%
Volatility (6M) Calculated over the trailing 6-month period	9.49%	11.77%	-2.28%
Volatility (1Y) Calculated over the trailing 1-year period	11.77%	15.07%	-3.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.98%	20.38%	-4.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.25%	20.09%	-1.84%

5HED.L vs. G500.L - Expense Ratio Comparison

5HED.L has a 0.75% expense ratio, which is higher than G500.L's 0.05% expense ratio.

Dividends

5HED.L vs. G500.L - Dividend Comparison

Neither 5HED.L nor G500.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both 5HED.L and G500.L in my portfolio?

5HED.L and G500.L have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, 5HED.L or G500.L?

On fees, G500.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, 5HED.L or G500.L?

G500.L is cheaper with a 0.05% expense ratio, compared with 0.75% for 5HED.L.

What is the main difference between 5HED.L and G500.L?

5HED.L is categorized as Large Cap Blend Equities, while G500.L is US Equities. They also come from different issuers: Ossiam and Invesco. Their fees differ too: 0.75% for 5HED.L and 0.05% for G500.L.