ESGS.L vs. SPXP.L

Last updated Jul 16, 2026

ESGS.L (Invesco MSCI USA Universal Screened UCITS ETF) and SPXP.L (Invesco S&P 500 UCITS ETF) are both exchange-traded funds - ESGS.L is a Global Equities fund tracking the Invesco MSCI USA Universal Screened UCITS ETF, while SPXP.L is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, ESGS.L returned 12.45%/yr vs -54.72%/yr for SPXP.L. With a 0.98 correlation, they move nearly in lockstep. ESGS.L charges 0.09%/yr vs 0.05%/yr for SPXP.L.

Performance

ESGS.L vs. SPXP.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco MSCI USA Universal Screened UCITS ETF (ESGS.L) and Invesco S&P 500 UCITS ETF (SPXP.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with ESGS.L having a 10.62% return and SPXP.L slightly lower at 10.10%.

ESGS.L

• 1D: -0.42%
• 1M: -1.16%
• 6M: 9.99%
• YTD: 10.62%
• 1Y: 20.69%
• 3Y*: 18.46%
• 5Y*: 12.45%
• 10Y*: —

SPXP.L

• 1D: -0.46%
• 1M: -0.34%
• 6M: 9.72%
• YTD: 10.10%
• 1Y: -98.79%
• 3Y*: -74.34%
• 5Y*: -54.72%
• 10Y*: -27.50%

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

ESGS.L vs. SPXP.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
ESGS.L Invesco MSCI USA Universal Screened UCITS ETF	10.62%	7.44%	26.67%	21.17%	-12.52%	30.30%	19.47%	-14.12%
SPXP.L Invesco S&P 500 UCITS ETF	10.10%	-98.90%	27.58%	20.06%	-8.79%	31.26%	13.90%	9.04%

Correlation

The correlation between ESGS.L and SPXP.L is 0.96 - 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	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (All Time) Calculated using the full available price history since Jun 13, 2019	0.98

The correlation between ESGS.L and SPXP.L has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.

Return for Risk

ESGS.L vs. SPXP.L — Risk / Return Rank

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

ESGS.L

ESGS.L Risk / Return Rank: 71
ESGS.L Sharpe Ratio Rank: 75
ESGS.L Sortino Ratio Rank: 73
ESGS.L Omega Ratio Rank: 74
ESGS.L Calmar Ratio Rank: 67
ESGS.L Martin Ratio Rank: 65

SPXP.L

SPXP.L Risk / Return Rank: 2
SPXP.L Sharpe Ratio Rank: 2
SPXP.L Sortino Ratio Rank: 4
SPXP.L Omega Ratio Rank: 0
SPXP.L Calmar Ratio Rank: 0
SPXP.L Martin Ratio Rank: 3

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.

ESGS.L vs. SPXP.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI USA Universal Screened UCITS ETF (ESGS.L) 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.

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.

	ESGS.L	SPXP.L	Difference
Sharpe ratio: Return per unit of total volatility	1.92	-0.99	+2.91
Sortino ratio: Return per unit of downside risk	2.64	-0.79	+3.43
Omega ratio: Gain probability vs. loss probability	1.35	0.49	+0.86
Calmar ratio: Return relative to maximum drawdown	2.71	-1.00	+3.71
Martin ratio: Return relative to average drawdown	9.33	-1.23	+10.56

ESGS.L vs. SPXP.L - Sharpe Ratio Comparison

The current ESGS.L Sharpe Ratio is 1.92, which is higher than the SPXP.L Sharpe Ratio of -0.99. The chart below compares the historical Sharpe Ratios of ESGS.L 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.

Drawdowns

ESGS.L vs. SPXP.L - Drawdown Comparison

The maximum ESGS.L drawdown since its inception was -29.04%, smaller than the maximum SPXP.L drawdown of -99.07%. Use the drawdown chart below to compare losses from any high point for ESGS.L and SPXP.L.

Drawdown Indicators

	ESGS.L	SPXP.L	Difference
Max Drawdown Largest peak-to-trough decline	-29.04%	-99.07%	+70.03%
Max Drawdown (1Y) Largest decline over 1 year	-8.16%	-99.07%	+90.91%
Max Drawdown (3Y) Largest decline over 3 years	-21.65%	-99.07%	+77.42%
Max Drawdown (5Y) Largest decline over 5 years	-21.65%	-99.07%	+77.42%
Max Drawdown (10Y) Largest decline over 10 years	—	-99.07%	—
Current Drawdown Current decline from peak	-2.34%	-98.92%	+96.58%
Average Drawdown Average peak-to-trough decline	-6.91%	-8.68%	+1.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.38%	80.35%	-77.97%

Volatility

ESGS.L vs. SPXP.L - Volatility Comparison

Invesco MSCI USA Universal Screened UCITS ETF (ESGS.L) has a higher volatility of 3.72% compared to Invesco S&P 500 UCITS ETF (SPXP.L) at 2.93%. This indicates that ESGS.L'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

	ESGS.L	SPXP.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.72%	2.93%	+0.79%
Volatility (6M) Calculated over the trailing 6-month period	8.56%	7.90%	+0.66%
Volatility (1Y) Calculated over the trailing 1-year period	11.63%	99.31%	-87.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.36%	46.56%	-26.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.42%	34.90%	-13.48%

ESGS.L vs. SPXP.L - Expense Ratio Comparison

ESGS.L has a 0.09% 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

ESGS.L vs. SPXP.L - Dividend Comparison

Neither ESGS.L nor SPXP.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

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

With a correlation of 0.96, ESGS.L 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, ESGS.L 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, ESGS.L or SPXP.L?

SPXP.L is cheaper with a 0.05% expense ratio, compared with 0.09% for ESGS.L.

What is the main difference between ESGS.L and SPXP.L?

ESGS.L is categorized as Global Equities, while SPXP.L is S&P 500. ESGS.L tracks Invesco MSCI USA Universal Screened UCITS ETF, while SPXP.L tracks S&P 500 Index. Their fees differ too: 0.09% for ESGS.L and 0.05% for SPXP.L.