G500.L vs. SPXP.L

Last updated Jul 16, 2026

G500.L (Invesco S&P 500 UCITS ETF (GBP Hdg)) and SPXP.L (Invesco S&P 500 UCITS ETF) are both exchange-traded funds - G500.L is a Global Equities fund tracking the Invesco S&P 500 UCITS ETF (GBP Hdg), while SPXP.L is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, G500.L returned 12.15%/yr vs -54.72%/yr for SPXP.L. A 0.80 correlation means they provide meaningful diversification when combined. Both charge a 0.05% expense ratio.

Performance

G500.L vs. SPXP.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco S&P 500 UCITS ETF (GBP Hdg) (G500.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 investments are quite close, with G500.L having a 9.90% return and SPXP.L slightly higher at 10.10%.

G500.L

• 1D: -0.05%
• 1M: -0.03%
• 6M: 9.49%
• YTD: 9.90%
• 1Y: 21.08%
• 3Y*: 19.63%
• 5Y*: 12.15%
• 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)

G500.L vs. SPXP.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%
SPXP.L Invesco S&P 500 UCITS ETF	10.10%	-98.90%	27.58%	20.06%	-8.79%	31.26%	11.14%

Correlation

The correlation between G500.L and SPXP.L is 0.81, 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	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (All Time) Calculated using the full available price history since Jun 30, 2020	0.80

The correlation between G500.L and SPXP.L has been stable across timeframes, ranging from 0.80 to 0.81 - a consistent structural relationship.

Return for Risk

G500.L vs. SPXP.L — Risk / Return Rank

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

G500.L

G500.L Risk / Return Rank: 71
G500.L Sharpe Ratio Rank: 70
G500.L Sortino Ratio Rank: 75
G500.L Omega Ratio Rank: 69
G500.L Calmar Ratio Rank: 66
G500.L Martin Ratio Rank: 73

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.

G500.L vs. SPXP.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 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.

	G500.L	SPXP.L	Difference
Sharpe ratio: Return per unit of total volatility	1.81	-0.99	+2.80
Sortino ratio: Return per unit of downside risk	2.70	-0.79	+3.49
Omega ratio: Gain probability vs. loss probability	1.33	0.49	+0.83
Calmar ratio: Return relative to maximum drawdown	2.65	-1.00	+3.65
Martin ratio: Return relative to average drawdown	10.68	-1.23	+11.91

G500.L vs. SPXP.L - Sharpe Ratio Comparison

The current G500.L Sharpe Ratio is 1.81, which is higher than the SPXP.L Sharpe Ratio of -0.99. The chart below compares the historical Sharpe Ratios of G500.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

G500.L vs. SPXP.L - Drawdown Comparison

The maximum G500.L drawdown since its inception was -25.20%, smaller than the maximum SPXP.L drawdown of -99.07%. Use the drawdown chart below to compare losses from any high point for G500.L and SPXP.L.

Drawdown Indicators

	G500.L	SPXP.L	Difference
Max Drawdown Largest peak-to-trough decline	-25.20%	-99.07%	+73.87%
Max Drawdown (1Y) Largest decline over 1 year	-8.21%	-99.07%	+90.86%
Max Drawdown (3Y) Largest decline over 3 years	-18.22%	-99.07%	+80.85%
Max Drawdown (5Y) Largest decline over 5 years	-25.20%	-99.07%	+73.87%
Max Drawdown (10Y) Largest decline over 10 years	—	-99.07%	—
Current Drawdown Current decline from peak	-0.66%	-98.92%	+98.26%
Average Drawdown Average peak-to-trough decline	-5.31%	-8.68%	+3.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.04%	80.35%	-78.31%

Volatility

G500.L vs. SPXP.L - Volatility Comparison

Invesco S&P 500 UCITS ETF (GBP Hdg) (G500.L) and Invesco S&P 500 UCITS ETF (SPXP.L) have volatilities of 2.79% and 2.93%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	G500.L	SPXP.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.79%	2.93%	-0.14%
Volatility (6M) Calculated over the trailing 6-month period	9.28%	7.90%	+1.38%
Volatility (1Y) Calculated over the trailing 1-year period	12.06%	99.31%	-87.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.99%	46.56%	-30.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.87%	34.90%	-19.03%

G500.L vs. SPXP.L - Expense Ratio Comparison

Both G500.L and SPXP.L have an expense ratio of 0.05%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

G500.L vs. SPXP.L - Dividend Comparison

Neither G500.L nor SPXP.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both G500.L and SPXP.L in my portfolio?

G500.L and SPXP.L have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, G500.L or SPXP.L?

Both ETFs have the same 0.05% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, G500.L or SPXP.L?

G500.L and SPXP.L have the same expense ratio: 0.05% per year.

What is the main difference between G500.L and SPXP.L?

G500.L is categorized as Global Equities, while SPXP.L is S&P 500. G500.L tracks Invesco S&P 500 UCITS ETF (GBP Hdg), while SPXP.L tracks S&P 500 Index.