8PSE.DE vs. D500.DE

Last updated Jun 5, 2026

8PSE.DE (Invesco Physical Gold (EUR Hedged) ETC) and D500.DE (Invesco S&P 500 UCITS ETF Dist) are both exchange-traded funds - 8PSE.DE is a Gold fund tracking the LBMA Gold Price PM (EUR Hedged), while D500.DE is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, 8PSE.DE returned 15.46%/yr vs 15.48%/yr for D500.DE. At a correlation of -0.01, they often move in opposite directions. 8PSE.DE charges 0.34%/yr vs 0.05%/yr for D500.DE.

Performance

8PSE.DE vs. D500.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Invesco Physical Gold (EUR Hedged) ETC (8PSE.DE) and Invesco S&P 500 UCITS ETF Dist (D500.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, 8PSE.DE achieves a 0.15% return, which is significantly lower than D500.DE's 11.58% return.

8PSE.DE

• 1D: 0.72%
• 1M: -2.51%
• YTD: 0.15%
• 6M: 4.45%
• 1Y: 28.47%
• 3Y*: 28.08%
• 5Y*: 15.46%
• 10Y*: —

D500.DE

• 1D: -0.31%
• 1M: 4.52%
• YTD: 11.58%
• 6M: 11.08%
• 1Y: 25.86%
• 3Y*: 19.34%
• 5Y*: 15.48%
• 10Y*: 15.85%

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

8PSE.DE vs. D500.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
8PSE.DE Invesco Physical Gold (EUR Hedged) ETC	0.15%	62.78%	24.11%	10.00%	-2.18%	-5.81%	2.14%
D500.DE Invesco S&P 500 UCITS ETF Dist	11.58%	4.86%	32.62%	22.70%	-13.34%	43.50%	9.76%

Correlation

The correlation between 8PSE.DE and D500.DE is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.01
Correlation (5Y) Calculated over the trailing 5-year period	-0.01
Correlation (All Time) Calculated using the full available price history since Jul 16, 2020	-0.01

Return for Risk

8PSE.DE vs. D500.DE — Risk / Return Rank

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

8PSE.DE

8PSE.DE Risk / Return Rank: 35
8PSE.DE Sharpe Ratio Rank: 11
8PSE.DE Sortino Ratio Rank: 37
8PSE.DE Omega Ratio Rank: 92
8PSE.DE Calmar Ratio Rank: 16
8PSE.DE Martin Ratio Rank: 20

D500.DE

D500.DE Risk / Return Rank: 70
D500.DE Sharpe Ratio Rank: 69
D500.DE Sortino Ratio Rank: 67
D500.DE Omega Ratio Rank: 71
D500.DE Calmar Ratio Rank: 73
D500.DE Martin Ratio Rank: 70

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.

8PSE.DE vs. D500.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Physical Gold (EUR Hedged) ETC (8PSE.DE) and Invesco S&P 500 UCITS ETF Dist (D500.DE). 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.

	8PSE.DE	D500.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.16	2.24	-2.08
Sortino ratio: Return per unit of downside risk	1.91	3.04	-1.13
Omega ratio: Gain probability vs. loss probability	1.60	1.42	+0.18
Calmar ratio: Return relative to maximum drawdown	0.56	3.60	-3.04
Martin ratio: Return relative to average drawdown	2.31	12.88	-10.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

8PSE.DE vs. D500.DE - Sharpe Ratio Comparison

The current 8PSE.DE Sharpe Ratio is 0.16, which is lower than the D500.DE Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of 8PSE.DE and D500.DE, 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

	8PSE.DE	D500.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.16	2.24	-2.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.17	1.01	-0.83
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.98	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.16	0.88	-0.72

Drawdowns

8PSE.DE vs. D500.DE - Drawdown Comparison

The maximum 8PSE.DE drawdown since its inception was -50.81%, which is greater than D500.DE's maximum drawdown of -33.57%. Use the drawdown chart below to compare losses from any high point for 8PSE.DE and D500.DE.

Drawdown Indicators

	8PSE.DE	D500.DE	Difference
Max Drawdown Largest peak-to-trough decline	-50.81%	-33.57%	-17.24%
Max Drawdown (1Y) Largest decline over 1 year	-50.81%	-7.14%	-43.67%
Max Drawdown (3Y) Largest decline over 3 years	-50.81%	-23.29%	-27.52%
Max Drawdown (5Y) Largest decline over 5 years	-50.81%	-23.29%	-27.52%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.57%	—
Current Drawdown Current decline from peak	-16.31%	-0.31%	-16.00%
Average Drawdown Average peak-to-trough decline	-10.13%	-4.25%	-5.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.27%	2.00%	+10.27%

Volatility

8PSE.DE vs. D500.DE - Volatility Comparison

Invesco Physical Gold (EUR Hedged) ETC (8PSE.DE) has a higher volatility of 5.95% compared to Invesco S&P 500 UCITS ETF Dist (D500.DE) at 2.66%. This indicates that 8PSE.DE's price experiences larger fluctuations and is considered to be riskier than D500.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	8PSE.DE	D500.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.95%	2.66%	+3.29%
Volatility (6M) Calculated over the trailing 6-month period	71.01%	7.54%	+63.47%
Volatility (1Y) Calculated over the trailing 1-year period	181.73%	11.59%	+170.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	87.63%	15.17%	+72.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	81.06%	16.08%	+64.98%

8PSE.DE vs. D500.DE - Expense Ratio Comparison

8PSE.DE has a 0.34% expense ratio, which is higher than D500.DE's 0.05% expense ratio.

Dividends

8PSE.DE vs. D500.DE - Dividend Comparison

8PSE.DE has not paid dividends to shareholders, while D500.DE's dividend yield for the trailing twelve months is around 1.08%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
8PSE.DE Invesco Physical Gold (EUR Hedged) ETC	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
D500.DE Invesco S&P 500 UCITS ETF Dist	1.08%	1.18%	1.27%	1.54%	2.63%	2.72%	3.53%	2.34%	2.08%	1.67%	1.70%	0.29%

Frequently Asked Questions

Can I hold both 8PSE.DE and D500.DE in my portfolio?

8PSE.DE and D500.DE have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, 8PSE.DE or D500.DE?

On fees, D500.DE 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, 8PSE.DE or D500.DE?

D500.DE is cheaper with a 0.05% expense ratio, compared with 0.34% for 8PSE.DE.

What is the main difference between 8PSE.DE and D500.DE?

8PSE.DE is categorized as Gold, while D500.DE is S&P 500. 8PSE.DE tracks LBMA Gold Price PM (EUR Hedged), while D500.DE tracks S&P 500 Index. Their fees differ too: 0.34% for 8PSE.DE and 0.05% for D500.DE.