G500.L vs. FLES.L
G500.L (Invesco S&P 500 UCITS ETF (GBP Hdg)) and FLES.L (Franklin Euro Short Maturity UCITS ETF) are both Global Equities funds - G500.L tracks the Invesco S&P 500 UCITS ETF (GBP Hdg) while FLES.L tracks the Franklin Euro Short Maturity UCITS ETF. Both are passively managed. Over the past 5 years, G500.L returned 12.15%/yr vs 1.97%/yr for FLES.L. At a correlation of -0.11, they often move in opposite directions.
Performance
G500.L vs. FLES.L - Performance Comparison
Loading charts...
Different Trading Currencies
G500.L is traded in GBp, while FLES.L is traded in EUR. To make them comparable, the FLES.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, G500.L achieves a 9.90% return, which is significantly higher than FLES.L's -1.89% return.
G500.L
- 1D
- -0.05%
- 1M
- -0.03%
- 6M
- 9.49%
- YTD
- 9.90%
- 1Y
- 21.08%
- 3Y*
- 19.63%
- 5Y*
- 12.15%
- 10Y*
- —
FLES.L
- 1D
- -0.55%
- 1M
- -1.80%
- 6M
- -1.28%
- YTD
- -1.89%
- 1Y
- -0.40%
- 3Y*
- 2.78%
- 5Y*
- 1.97%
- 10Y*
- —
G500.L vs. FLES.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
G500.L Invesco S&P 500 UCITS ETF (GBP Hdg) | 9.90% | 17.45% | 24.98% | 24.88% | -19.98% | 28.95% | 20.65% |
FLES.L Franklin Euro Short Maturity UCITS ETF | -1.89% | 7.85% | -0.52% | 1.23% | 5.31% | -5.82% | -1.14% |
Correlation
The correlation between G500.L and FLES.L is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.11 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2020 | -0.11 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
G500.L vs. FLES.L — Risk / Return Rank
G500.L
FLES.L
G500.L vs. FLES.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 UCITS ETF (GBP Hdg) (G500.L) and Franklin Euro Short Maturity UCITS ETF (FLES.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.
| G500.L | FLES.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.91 | ||
| Sortino ratioReturn per unit of downside risk | +2.82 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 0.99 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 2.65 | -0.13 | +2.78 |
| Martin ratioReturn relative to average drawdown | 10.68 | -0.35 | +11.03 |
Loading charts...
Drawdowns
G500.L vs. FLES.L - Drawdown Comparison
The maximum G500.L drawdown since its inception was -25.20%, which is greater than FLES.L's maximum drawdown of -10.70%. Use the drawdown chart below to compare losses from any high point for G500.L and FLES.L.
Loading charts...
Drawdown Indicators
| G500.L | FLES.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.20% | -10.70% | -14.50% |
Max Drawdown (1Y)Largest decline over 1 year | -8.21% | -3.01% | -5.20% |
Max Drawdown (3Y)Largest decline over 3 years | -18.22% | -3.07% | -15.15% |
Max Drawdown (5Y)Largest decline over 5 years | -25.20% | -4.87% | -20.33% |
Current DrawdownCurrent decline from peak | -0.66% | -3.01% | +2.35% |
Average DrawdownAverage peak-to-trough decline | -5.31% | -4.40% | -0.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.04% | 1.15% | +0.89% |
Volatility
G500.L vs. FLES.L - Volatility Comparison
Invesco S&P 500 UCITS ETF (GBP Hdg) (G500.L) has a higher volatility of 2.79% compared to Franklin Euro Short Maturity UCITS ETF (FLES.L) at 0.97%. This indicates that G500.L's price experiences larger fluctuations and is considered to be riskier than FLES.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| G500.L | FLES.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.79% | 0.97% | +1.82% |
Volatility (6M)Calculated over the trailing 6-month period | 9.28% | 2.70% | +6.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.06% | 4.02% | +8.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.99% | 5.44% | +10.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.87% | 6.28% | +9.59% |
Dividends
G500.L vs. FLES.L - Dividend Comparison
G500.L has not paid dividends to shareholders, while FLES.L's dividend yield for the trailing twelve months is around 1.92%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
FLES.L Franklin Euro Short Maturity UCITS ETF | 1.92% | 2.62% | 2.55% | 1.20% | 0.26% |
G500.L Invesco S&P 500 UCITS ETF (GBP Hdg) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
G500.L and FLES.L have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
G500.L tracks Invesco S&P 500 UCITS ETF (GBP Hdg), while FLES.L tracks Franklin Euro Short Maturity UCITS ETF. They also come from different issuers: Invesco and Franklin.
Find the right allocation for G500.L and FLES.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer