ACWI.L vs. SPXS.L
ACWI.L (SPDR MSCI ACWI UCITS ETF) and SPXS.L (Invesco S&P 500 UCITS ETF) are both Global Equities funds - ACWI.L tracks the MSCI ACWI Index while SPXS.L tracks the Invesco S&P 500 UCITS ETF. Both are passively managed. Over the past 10 years, ACWI.L returned 12.32%/yr vs -27.53%/yr for SPXS.L. A 0.67 correlation means they provide meaningful diversification when combined. ACWI.L charges 0.40%/yr vs 0.05%/yr for SPXS.L.
Performance
ACWI.L vs. SPXS.L - Performance Comparison
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Different Trading Currencies
ACWI.L is traded in GBP, while SPXS.L is traded in USD. To make them comparable, the SPXS.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, ACWI.L achieves a 11.02% return, which is significantly higher than SPXS.L's 9.88% return. Over the past 10 years, ACWI.L has outperformed SPXS.L with an annualized return of 12.32%, while SPXS.L has yielded a comparatively lower -27.53% annualized return.
ACWI.L
- 1D
- -0.59%
- 1M
- -1.00%
- 6M
- 9.32%
- YTD
- 11.02%
- 1Y
- 22.97%
- 3Y*
- 18.01%
- 5Y*
- 11.72%
- 10Y*
- 12.32%
SPXS.L
- 1D
- 0.00%
- 1M
- -0.81%
- 6M
- 9.42%
- YTD
- 9.88%
- 1Y
- -98.79%
- 3Y*
- -74.39%
- 5Y*
- -54.77%
- 10Y*
- -27.53%
ACWI.L vs. SPXS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ACWI.L SPDR MSCI ACWI UCITS ETF | 11.02% | 14.32% | 19.66% | 15.59% | -8.59% | 20.16% | 11.93% | 22.61% | -4.50% | 12.79% |
SPXS.L Invesco S&P 500 UCITS ETF | 9.88% | -98.91% | 27.76% | 20.65% | -8.84% | 30.87% | 14.43% | 25.88% | 0.43% | 11.11% |
Correlation
The correlation between ACWI.L and SPXS.L is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since May 16, 2011 | 0.67 |
Over the past year, ACWI.L and SPXS.L have become more correlated (0.87) than their long-term average of 0.67, meaning their price movements have been converging.
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Return for Risk
ACWI.L vs. SPXS.L — Risk / Return Rank
ACWI.L
SPXS.L
ACWI.L vs. SPXS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI ACWI UCITS ETF (ACWI.L) and Invesco S&P 500 UCITS ETF (SPXS.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.
| ACWI.L | SPXS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.07 | ||
| Sortino ratioReturn per unit of downside risk | +3.70 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 0.52 | +0.87 |
| Calmar ratioReturn relative to maximum drawdown | 3.24 | -1.00 | +4.24 |
| Martin ratioReturn relative to average drawdown | 12.56 | -1.23 | +13.79 |
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Drawdowns
ACWI.L vs. SPXS.L - Drawdown Comparison
The maximum ACWI.L drawdown since its inception was -26.07%, smaller than the maximum SPXS.L drawdown of -99.07%. Use the drawdown chart below to compare losses from any high point for ACWI.L and SPXS.L.
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Drawdown Indicators
| ACWI.L | SPXS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.07% | -99.07% | +73.00% |
Max Drawdown (1Y)Largest decline over 1 year | -7.05% | -99.07% | +92.02% |
Max Drawdown (3Y)Largest decline over 3 years | -20.07% | -99.07% | +79.00% |
Max Drawdown (5Y)Largest decline over 5 years | -20.07% | -99.07% | +79.00% |
Max Drawdown (10Y)Largest decline over 10 years | -26.07% | -99.07% | +73.00% |
Current DrawdownCurrent decline from peak | -1.97% | -98.92% | +96.95% |
Average DrawdownAverage peak-to-trough decline | -4.38% | -7.34% | +2.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.82% | 80.59% | -78.77% |
Volatility
ACWI.L vs. SPXS.L - Volatility Comparison
SPDR MSCI ACWI UCITS ETF (ACWI.L) has a higher volatility of 3.12% compared to Invesco S&P 500 UCITS ETF (SPXS.L) at 2.88%. This indicates that ACWI.L's price experiences larger fluctuations and is considered to be riskier than SPXS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ACWI.L | SPXS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.12% | 2.88% | +0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 8.55% | 9.25% | -0.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.02% | 99.46% | -88.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.00% | 46.95% | -27.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.60% | 35.32% | -17.72% |
ACWI.L vs. SPXS.L - Expense Ratio Comparison
ACWI.L has a 0.40% expense ratio, which is higher than SPXS.L's 0.05% expense ratio.
Dividends
ACWI.L vs. SPXS.L - Dividend Comparison
Neither ACWI.L nor SPXS.L has paid dividends to shareholders.
Frequently Asked Questions
ACWI.L and SPXS.L have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPXS.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPXS.L is cheaper with a 0.05% expense ratio, compared with 0.40% for ACWI.L.
ACWI.L tracks MSCI ACWI Index, while SPXS.L tracks Invesco S&P 500 UCITS ETF. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.40% for ACWI.L and 0.05% for SPXS.L.
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