FWRG.L vs. SPXS.L
FWRG.L (Invesco FTSE All-World UCITS ETF Acc) and SPXS.L (Invesco S&P 500 UCITS ETF) are both Global Equities funds from Invesco - FWRG.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, FWRG.L returned 17.95%/yr vs -74.11%/yr for SPXS.L. Their correlation of 0.81 suggests significant overlap in exposure. FWRG.L charges 0.15%/yr vs 0.05%/yr for SPXS.L.
Performance
FWRG.L vs. SPXS.L - Performance Comparison
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Returns By Period
In the year-to-date period, FWRG.L achieves a 10.88% return, which is significantly higher than SPXS.L's 10.20% return.
FWRG.L
- 1D
- -0.63%
- 1M
- -1.13%
- 6M
- 9.15%
- YTD
- 10.88%
- 1Y
- 22.81%
- 3Y*
- 17.95%
- 5Y*
- —
- 10Y*
- —
SPXS.L
- 1D
- -0.12%
- 1M
- -0.05%
- 6M
- 9.96%
- YTD
- 10.20%
- 1Y
- -98.78%
- 3Y*
- -74.11%
- 5Y*
- -54.94%
- 10Y*
- -27.39%
FWRG.L vs. SPXS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FWRG.L Invesco FTSE All-World UCITS ETF Acc | 10.88% | 13.84% | 20.11% | 8,531.38% |
SPXS.L Invesco S&P 500 UCITS ETF | 10.20% | -98.82% | 25.56% | 10.97% |
Correlation
The correlation between FWRG.L and SPXS.L is 0.83, 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 | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2023 | 0.81 |
The correlation between FWRG.L and SPXS.L has been stable across timeframes, ranging from 0.81 to 0.83 - a consistent structural relationship.
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Return for Risk
FWRG.L vs. SPXS.L — Risk / Return Rank
FWRG.L
SPXS.L
FWRG.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 Acc (FWRG.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.
| FWRG.L | SPXS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.07 | ||
| Sortino ratioReturn per unit of downside risk | +3.71 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 0.52 | +0.87 |
| Calmar ratioReturn relative to maximum drawdown | 3.18 | -1.00 | +4.18 |
| Martin ratioReturn relative to average drawdown | 12.26 | -1.23 | +13.49 |
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Drawdowns
FWRG.L vs. SPXS.L - Drawdown Comparison
The maximum FWRG.L drawdown since its inception was -18.87%, smaller than the maximum SPXS.L drawdown of -99.07%. Use the drawdown chart below to compare losses from any high point for FWRG.L and SPXS.L.
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Drawdown Indicators
| FWRG.L | SPXS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.87% | -99.07% | +80.20% |
Max Drawdown (1Y)Largest decline over 1 year | -7.14% | -99.07% | +91.93% |
Max Drawdown (3Y)Largest decline over 3 years | -18.87% | -99.07% | +80.20% |
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 | -2.11% | -98.90% | +96.79% |
Average DrawdownAverage peak-to-trough decline | -2.23% | -7.67% | +5.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.86% | 80.57% | -78.71% |
Volatility
FWRG.L vs. SPXS.L - Volatility Comparison
Invesco FTSE All-World UCITS ETF Acc (FWRG.L) has a higher volatility of 3.13% compared to Invesco S&P 500 UCITS ETF (SPXS.L) at 2.73%. This indicates that FWRG.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
| FWRG.L | SPXS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.13% | 2.73% | +0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 8.52% | 9.24% | -0.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.92% | 99.43% | -88.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4,417.24% | 47.13% | +4,370.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4,417.24% | 35.27% | +4,381.97% |
FWRG.L vs. SPXS.L - Expense Ratio Comparison
FWRG.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
FWRG.L vs. SPXS.L - Dividend Comparison
Neither FWRG.L nor SPXS.L has paid dividends to shareholders.
Frequently Asked Questions
FWRG.L and SPXS.L have a correlation of 0.83, 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 0.15% for FWRG.L.
FWRG.L tracks FTSE All-World Index, while SPXS.L tracks Invesco S&P 500 UCITS ETF. Their fees differ too: 0.15% for FWRG.L and 0.05% for SPXS.L.
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