FTWD.L vs. SPXS.L
FTWD.L (Invesco FTSE All-World UCITS ETF Dist) and SPXS.L (Invesco S&P 500 UCITS ETF) are both Global Equities funds from Invesco - FTWD.L tracks the FTSE All-World Index while SPXS.L tracks the Invesco S&P 500 UCITS ETF. Both are passively managed. Over the past 3 years, FTWD.L returned 19.12%/yr vs -74.10%/yr for SPXS.L. Their correlation of 0.93 suggests significant overlap in exposure. FTWD.L charges 0.15%/yr vs 0.05%/yr for SPXS.L.
Performance
FTWD.L vs. SPXS.L - Performance Comparison
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Returns By Period
In the year-to-date period, FTWD.L achieves a 11.08% return, which is significantly higher than SPXS.L's 10.40% return.
FTWD.L
- 1D
- 0.00%
- 1M
- -0.44%
- 6M
- 8.56%
- YTD
- 11.08%
- 1Y
- 23.94%
- 3Y*
- 19.12%
- 5Y*
- —
- 10Y*
- —
SPXS.L
- 1D
- 0.07%
- 1M
- 0.33%
- 6M
- 9.13%
- YTD
- 10.40%
- 1Y
- -98.77%
- 3Y*
- -74.10%
- 5Y*
- -54.92%
- 10Y*
- -27.38%
FTWD.L vs. SPXS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FTWD.L Invesco FTSE All-World UCITS ETF Dist | 11.08% | 22.55% | 17.90% | 10.03% |
SPXS.L Invesco S&P 500 UCITS ETF | 10.40% | -98.82% | 25.56% | 10.97% |
Correlation
The correlation between FTWD.L and SPXS.L is 0.94, 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 | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2023 | 0.93 |
The correlation between FTWD.L and SPXS.L has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.
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Return for Risk
FTWD.L vs. SPXS.L — Risk / Return Rank
FTWD.L
SPXS.L
FTWD.L vs. SPXS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco FTSE All-World UCITS ETF Dist (FTWD.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.
| FTWD.L | SPXS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.84 | ||
| Sortino ratioReturn per unit of downside risk | +3.54 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 0.52 | +0.82 |
| Calmar ratioReturn relative to maximum drawdown | 2.75 | -1.00 | +3.74 |
| Martin ratioReturn relative to average drawdown | 10.84 | -1.23 | +12.07 |
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Drawdowns
FTWD.L vs. SPXS.L - Drawdown Comparison
The maximum FTWD.L drawdown since its inception was -16.68%, smaller than the maximum SPXS.L drawdown of -99.07%. Use the drawdown chart below to compare losses from any high point for FTWD.L and SPXS.L.
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Drawdown Indicators
| FTWD.L | SPXS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.68% | -99.07% | +82.39% |
Max Drawdown (1Y)Largest decline over 1 year | -8.72% | -99.07% | +90.35% |
Max Drawdown (3Y)Largest decline over 3 years | -16.68% | -99.07% | +82.39% |
Max Drawdown (5Y)Largest decline over 5 years | — | -99.07% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.07% | — |
Current DrawdownCurrent decline from peak | -1.23% | -98.90% | +97.67% |
Average DrawdownAverage peak-to-trough decline | -1.91% | -7.67% | +5.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.21% | 80.57% | -78.36% |
Volatility
FTWD.L vs. SPXS.L - Volatility Comparison
Invesco FTSE All-World UCITS ETF Dist (FTWD.L) has a higher volatility of 3.37% compared to Invesco S&P 500 UCITS ETF (SPXS.L) at 2.73%. This indicates that FTWD.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
| FTWD.L | SPXS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.37% | 2.73% | +0.64% |
Volatility (6M)Calculated over the trailing 6-month period | 10.49% | 9.23% | +1.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.94% | 99.43% | -86.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.62% | 47.13% | -33.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.62% | 35.27% | -21.65% |
FTWD.L vs. SPXS.L - Expense Ratio Comparison
FTWD.L has a 0.15% expense ratio, which is higher than SPXS.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
FTWD.L vs. SPXS.L - Dividend Comparison
FTWD.L's dividend yield for the trailing twelve months is around 1.25%, while SPXS.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
FTWD.L Invesco FTSE All-World UCITS ETF Dist | 1.25% | 1.34% | 1.53% | 0.69% |
SPXS.L Invesco S&P 500 UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.94, FTWD.L and SPXS.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.
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 0.15% for FTWD.L.
FTWD.L tracks FTSE All-World Index, while SPXS.L tracks Invesco S&P 500 UCITS ETF. Their fees differ too: 0.15% for FTWD.L and 0.05% for SPXS.L.
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