CPXJ.AS vs. SPXP.L
CPXJ.AS (iShares Core MSCI Pacific ex Japan UCITS ETF) and SPXP.L (Invesco S&P 500 UCITS ETF) are both exchange-traded funds - CPXJ.AS is a Asia Pacific Equities fund tracking the MSCI Pacific Ex Japan NR USD, while SPXP.L is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, CPXJ.AS returned 7.49%/yr vs 15.06%/yr for SPXP.L. A 0.53 correlation means they provide meaningful diversification when combined. CPXJ.AS charges 0.20%/yr vs 0.05%/yr for SPXP.L.
Performance
CPXJ.AS vs. SPXP.L - Performance Comparison
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Different Trading Currencies
CPXJ.AS is traded in EUR, while SPXP.L is traded in GBp. To make them comparable, the SPXP.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, CPXJ.AS achieves a 9.65% return, which is significantly lower than SPXP.L's 11.54% return. Over the past 10 years, CPXJ.AS has underperformed SPXP.L with an annualized return of 7.49%, while SPXP.L has yielded a comparatively higher 15.06% annualized return.
CPXJ.AS
- 1D
- -0.99%
- 1M
- 0.12%
- YTD
- 9.65%
- 6M
- 10.54%
- 1Y
- 14.24%
- 3Y*
- 10.42%
- 5Y*
- 5.85%
- 10Y*
- 7.49%
SPXP.L
- 1D
- -0.09%
- 1M
- 5.33%
- YTD
- 11.54%
- 6M
- 11.60%
- 1Y
- 25.87%
- 3Y*
- 19.03%
- 5Y*
- 15.00%
- 10Y*
- 15.06%
CPXJ.AS vs. SPXP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CPXJ.AS iShares Core MSCI Pacific ex Japan UCITS ETF | 9.65% | 6.69% | 11.90% | 2.33% | -0.55% | 12.79% | -2.03% | 20.23% | -5.97% | 10.75% |
SPXP.L Invesco S&P 500 UCITS ETF | 11.54% | 3.82% | 33.74% | 22.61% | -13.49% | 39.80% | 7.72% | 34.83% | -0.97% | 6.41% |
Correlation
The correlation between CPXJ.AS and SPXP.L is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Jul 15, 2014 | 0.53 |
The correlation between CPXJ.AS and SPXP.L has been stable across timeframes, ranging from 0.53 to 0.58 - a consistent structural relationship.
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Return for Risk
CPXJ.AS vs. SPXP.L — Risk / Return Rank
CPXJ.AS
SPXP.L
CPXJ.AS vs. SPXP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Pacific ex Japan UCITS ETF (CPXJ.AS) and Invesco S&P 500 UCITS ETF (SPXP.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.
| CPXJ.AS | SPXP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.10 | ||
| Sortino ratioReturn per unit of downside risk | -1.28 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.43 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 2.27 | 3.61 | -1.34 |
| Martin ratioReturn relative to average drawdown | 6.65 | 13.11 | -6.45 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CPXJ.AS | SPXP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.22 | 2.32 | -1.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.39 | 1.00 | -0.60 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.45 | 0.98 | -0.54 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 1.02 | -0.67 |
Drawdowns
CPXJ.AS vs. SPXP.L - Drawdown Comparison
The maximum CPXJ.AS drawdown since its inception was -36.83%, which is greater than SPXP.L's maximum drawdown of -32.89%. Use the drawdown chart below to compare losses from any high point for CPXJ.AS and SPXP.L.
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Drawdown Indicators
| CPXJ.AS | SPXP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.83% | -32.89% | -3.94% |
Max Drawdown (1Y)Largest decline over 1 year | -6.20% | -7.14% | +0.94% |
Max Drawdown (3Y)Largest decline over 3 years | -19.95% | -22.38% | +2.43% |
Max Drawdown (5Y)Largest decline over 5 years | -19.95% | -22.38% | +2.43% |
Max Drawdown (10Y)Largest decline over 10 years | -36.83% | -32.89% | -3.94% |
Current DrawdownCurrent decline from peak | -2.08% | -0.39% | -1.69% |
Average DrawdownAverage peak-to-trough decline | -6.66% | -4.36% | -2.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.13% | 1.97% | +0.16% |
Volatility
CPXJ.AS vs. SPXP.L - Volatility Comparison
iShares Core MSCI Pacific ex Japan UCITS ETF (CPXJ.AS) has a higher volatility of 3.32% compared to Invesco S&P 500 UCITS ETF (SPXP.L) at 2.19%. This indicates that CPXJ.AS's price experiences larger fluctuations and is considered to be riskier than SPXP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CPXJ.AS | SPXP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.32% | 2.19% | +1.13% |
Volatility (6M)Calculated over the trailing 6-month period | 8.89% | 7.46% | +1.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.52% | 11.12% | +0.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.61% | 15.02% | -0.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.48% | 16.75% | -0.27% |
CPXJ.AS vs. SPXP.L - Expense Ratio Comparison
CPXJ.AS has a 0.20% expense ratio, which is higher than SPXP.L's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
CPXJ.AS vs. SPXP.L - Dividend Comparison
Neither CPXJ.AS nor SPXP.L has paid dividends to shareholders.
Frequently Asked Questions
CPXJ.AS and SPXP.L have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPXP.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPXP.L is cheaper with a 0.05% expense ratio, compared with 0.20% for CPXJ.AS.
CPXJ.AS is categorized as Asia Pacific Equities, while SPXP.L is S&P 500. CPXJ.AS tracks MSCI Pacific Ex Japan NR USD, while SPXP.L tracks S&P 500 Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.20% for CPXJ.AS and 0.05% for SPXP.L.
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