GBP=X vs. ^GSPC

Last updated Apr 3, 2026

Compare and contrast key facts about USD/GBP (GBP=X) and S&P 500 Index (^GSPC).

Performance

GBP=X vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in USD/GBP (GBP=X) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

GBP=X vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GBP=X USD/GBP	1.87%	-7.12%	1.75%	-5.00%	11.89%	0.95%	-2.94%	-3.80%	5.93%	-8.65%
^GSPC S&P 500 Index	-2.04%	8.10%	25.46%	18.02%	-9.86%	28.09%	12.84%	23.98%	-0.68%	9.09%

Different Trading Currencies

GBP=X is traded in GBP, while ^GSPC is traded in USD. To make them comparable, the ^GSPC values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, GBP=X achieves a 1.87% return, which is significantly higher than ^GSPC's -2.04% return. Over the past 10 years, GBP=X has underperformed ^GSPC with an annualized return of 0.76%, while ^GSPC has yielded a comparatively higher 13.14% annualized return.

GBP=X

• 1D: 0.61%
• 1M: 0.99%
• YTD: 1.87%
• 6M: 1.61%
• 1Y: -1.71%
• 3Y*: -2.08%
• 5Y*: 0.90%
• 10Y*: 0.76%

^GSPC

• 1D: 0.72%
• 1M: -2.48%
• YTD: -2.04%
• 6M: -0.40%
• 1Y: 14.09%
• 3Y*: 14.43%
• 5Y*: 11.36%
• 10Y*: 13.14%

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

Return for Risk

GBP=X vs. ^GSPC — Risk / Return Rank

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

GBP=X

GBP=X Risk / Return Rank: 55
GBP=X Sharpe Ratio Rank: 46
GBP=X Sortino Ratio Rank: 44
GBP=X Omega Ratio Rank: 45
GBP=X Calmar Ratio Rank: 71
GBP=X Martin Ratio Rank: 71

^GSPC

^GSPC Risk / Return Rank: 58
^GSPC Sharpe Ratio Rank: 52
^GSPC Sortino Ratio Rank: 55
^GSPC Omega Ratio Rank: 59
^GSPC Calmar Ratio Rank: 52
^GSPC Martin Ratio Rank: 71

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.

GBP=X vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for USD/GBP (GBP=X) and S&P 500 Index (^GSPC). 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.

	GBP=X	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	-0.20	0.75	-0.96
Sortino ratio Return per unit of downside risk	-0.24	1.17	-1.41
Omega ratio Gain probability vs. loss probability	0.97	1.18	-0.21
Calmar ratio Return relative to maximum drawdown	0.50	1.22	-0.72
Martin ratio Return relative to average drawdown	1.19	4.75	-3.56
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GBP=X vs. ^GSPC - Sharpe Ratio Comparison

The current GBP=X Sharpe Ratio is -0.20, which is lower than the ^GSPC Sharpe Ratio of 0.75. The chart below compares the historical Sharpe Ratios of GBP=X and ^GSPC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	GBP=X	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.20	0.75	-0.96
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.10	0.72	-0.62
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.08	0.73	-0.65
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	0.55	-0.32

Correlation

The correlation between GBP=X and ^GSPC is 0.27, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Drawdowns

GBP=X vs. ^GSPC - Drawdown Comparison

The maximum GBP=X drawdown since its inception was -22.85%, smaller than the maximum ^GSPC drawdown of -37.67%. Use the drawdown chart below to compare losses from any high point for GBP=X and ^GSPC.

Drawdown Indicators

	GBP=X	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-22.85%	-56.78%	+33.93%
Max Drawdown (1Y) Largest decline over 1 year	-8.11%	-9.10%	+0.99%
Max Drawdown (5Y) Largest decline over 5 years	-22.85%	-25.43%	+2.58%
Max Drawdown (10Y) Largest decline over 10 years	-22.85%	-33.92%	+11.07%
Current Drawdown Current decline from peak	-19.22%	-5.67%	-13.55%
Average Drawdown Average peak-to-trough decline	-10.98%	-10.75%	-0.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.48%	2.62%	-0.14%

Volatility

GBP=X vs. ^GSPC - Volatility Comparison

The current volatility for USD/GBP (GBP=X) is 2.60%, while S&P 500 Index (^GSPC) has a volatility of 4.55%. This indicates that GBP=X experiences smaller price fluctuations and is considered to be less risky than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GBP=X	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.60%	4.55%	-1.95%
Volatility (6M) Calculated over the trailing 6-month period	4.71%	9.51%	-4.80%
Volatility (1Y) Calculated over the trailing 1-year period	6.77%	18.75%	-11.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.26%	15.89%	-7.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.29%	18.16%	-8.87%