D5BM.DE vs. SPXP.L

Last updated Jun 5, 2026

D5BM.DE (Xtrackers S&P 500 Swap UCITS ETF 1C) and SPXP.L (Invesco S&P 500 UCITS ETF) are both S&P 500 funds tracking the S&P 500 Index, from Xtrackers and Invesco respectively. Both are passively managed. Over the past 10 years, D5BM.DE returned 15.17%/yr vs 15.06%/yr for SPXP.L. A 0.80 correlation means they provide meaningful diversification when combined. D5BM.DE charges 0.15%/yr vs 0.05%/yr for SPXP.L.

Performance

D5BM.DE vs. SPXP.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Xtrackers S&P 500 Swap UCITS ETF 1C (D5BM.DE) and Invesco S&P 500 UCITS ETF (SPXP.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

D5BM.DE 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

The year-to-date returns for both investments are quite close, with D5BM.DE having a 11.37% return and SPXP.L slightly higher at 11.54%. Both investments have delivered pretty close results over the past 10 years, with D5BM.DE having a 15.17% annualized return and SPXP.L not far behind at 15.06%.

D5BM.DE

• 1D: -0.13%
• 1M: 4.39%
• YTD: 11.37%
• 6M: 10.87%
• 1Y: 25.59%
• 3Y*: 18.95%
• 5Y*: 14.88%
• 10Y*: 15.17%

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%

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

D5BM.DE vs. SPXP.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
D5BM.DE Xtrackers S&P 500 Swap UCITS ETF 1C	11.37%	4.79%	32.48%	22.66%	-14.28%	41.10%	7.10%	34.88%	-0.79%	7.04%
SPXP.L Invesco S&P 500 UCITS ETF	11.56%	3.82%	33.74%	22.61%	-13.49%	39.80%	7.72%	34.83%	-0.97%	6.41%

Correlation

The correlation between D5BM.DE and SPXP.L is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Jul 15, 2014	0.80

The correlation between D5BM.DE and SPXP.L shifts across timeframes, from 0.80 (all time) to 0.95 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

D5BM.DE vs. SPXP.L — Risk / Return Rank

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

D5BM.DE

D5BM.DE Risk / Return Rank: 69
D5BM.DE Sharpe Ratio Rank: 68
D5BM.DE Sortino Ratio Rank: 66
D5BM.DE Omega Ratio Rank: 70
D5BM.DE Calmar Ratio Rank: 73
D5BM.DE Martin Ratio Rank: 70

SPXP.L

SPXP.L Risk / Return Rank: 83
SPXP.L Sharpe Ratio Rank: 85
SPXP.L Sortino Ratio Rank: 84
SPXP.L Omega Ratio Rank: 86
SPXP.L Calmar Ratio Rank: 80
SPXP.L Martin Ratio Rank: 79

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.

D5BM.DE vs. SPXP.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers S&P 500 Swap UCITS ETF 1C (D5BM.DE) 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.

	D5BM.DE	SPXP.L	Difference
Sharpe ratio: Return per unit of total volatility	2.20	2.32	-0.11
Sortino ratio: Return per unit of downside risk	3.00	3.14	-0.14
Omega ratio: Gain probability vs. loss probability	1.41	1.43	-0.02
Calmar ratio: Return relative to maximum drawdown	3.58	3.61	-0.02
Martin ratio: Return relative to average drawdown	12.76	13.11	-0.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

D5BM.DE vs. SPXP.L - Sharpe Ratio Comparison

The current D5BM.DE Sharpe Ratio is 2.20, which is comparable to the SPXP.L Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of D5BM.DE and SPXP.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

	D5BM.DE	SPXP.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.20	2.32	-0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.97	1.00	-0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.94	0.98	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.91	1.02	-0.11

Drawdowns

D5BM.DE vs. SPXP.L - Drawdown Comparison

The maximum D5BM.DE drawdown since its inception was -33.77%, roughly equal to the maximum SPXP.L drawdown of -32.89%. Use the drawdown chart below to compare losses from any high point for D5BM.DE and SPXP.L.

Drawdown Indicators

	D5BM.DE	SPXP.L	Difference
Max Drawdown Largest peak-to-trough decline	-33.77%	-32.89%	-0.88%
Max Drawdown (1Y) Largest decline over 1 year	-7.13%	-7.14%	+0.01%
Max Drawdown (3Y) Largest decline over 3 years	-23.22%	-22.38%	-0.84%
Max Drawdown (5Y) Largest decline over 5 years	-23.22%	-22.38%	-0.84%
Max Drawdown (10Y) Largest decline over 10 years	-33.77%	-32.89%	-0.88%
Current Drawdown Current decline from peak	-0.46%	-0.39%	-0.07%
Average Drawdown Average peak-to-trough decline	-4.12%	-4.36%	+0.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.01%	1.97%	+0.04%

Volatility

D5BM.DE vs. SPXP.L - Volatility Comparison

Xtrackers S&P 500 Swap UCITS ETF 1C (D5BM.DE) has a higher volatility of 2.69% compared to Invesco S&P 500 UCITS ETF (SPXP.L) at 2.19%. This indicates that D5BM.DE'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.

Volatility by Period

	D5BM.DE	SPXP.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.69%	2.19%	+0.50%
Volatility (6M) Calculated over the trailing 6-month period	7.59%	7.46%	+0.13%
Volatility (1Y) Calculated over the trailing 1-year period	11.59%	11.12%	+0.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.18%	15.02%	+0.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.06%	16.75%	-0.69%

D5BM.DE vs. SPXP.L - Expense Ratio Comparison

D5BM.DE has a 0.15% 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

D5BM.DE vs. SPXP.L - Dividend Comparison

Neither D5BM.DE nor SPXP.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both D5BM.DE and SPXP.L in my portfolio?

With a correlation of 0.95, D5BM.DE and SPXP.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, D5BM.DE or SPXP.L?

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.

Which ETF is cheaper, D5BM.DE or SPXP.L?

SPXP.L is cheaper with a 0.05% expense ratio, compared with 0.15% for D5BM.DE.

What is the main difference between D5BM.DE and SPXP.L?

Both ETFs track S&P 500 Index. They also come from different issuers: Xtrackers and Invesco. Their fees differ too: 0.15% for D5BM.DE and 0.05% for SPXP.L.