GBPUSD=X vs. ^GSPC

Last updated Apr 3, 2026

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

Performance

GBPUSD=X vs. ^GSPC - Performance Comparison

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

GBPUSD=X vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GBPUSD=X GBP/USD	-1.65%	7.55%	-1.67%	5.28%	-10.69%	-0.91%	3.06%	4.01%	-5.66%	9.52%
^GSPC S&P 500 Index	-3.84%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	28.88%	-6.24%	19.42%

Returns By Period

In the year-to-date period, GBPUSD=X achieves a -1.65% return, which is significantly higher than ^GSPC's -3.84% return. Over the past 10 years, GBPUSD=X has underperformed ^GSPC with an annualized return of -0.75%, while ^GSPC has yielded a comparatively higher 12.29% annualized return.

GBPUSD=X

• 1D: -0.48%
• 1M: -0.90%
• YTD: -1.65%
• 6M: -1.51%
• 1Y: 1.82%
• 3Y*: 2.17%
• 5Y*: -0.86%
• 10Y*: -0.75%

^GSPC

• 1D: 0.11%
• 1M: -3.43%
• YTD: -3.84%
• 6M: -1.98%
• 1Y: 16.08%
• 3Y*: 16.86%
• 5Y*: 10.37%
• 10Y*: 12.29%

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

Return for Risk

GBPUSD=X vs. ^GSPC — Risk / Return Rank

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

GBPUSD=X

GBPUSD=X Risk / Return Rank: 38
GBPUSD=X Sharpe Ratio Rank: 51
GBPUSD=X Sortino Ratio Rank: 51
GBPUSD=X Omega Ratio Rank: 50
GBPUSD=X Calmar Ratio Rank: 20
GBPUSD=X Martin Ratio Rank: 17

^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.

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

This table presents a comparison of risk-adjusted performance metrics for GBP/USD (GBPUSD=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.

	GBPUSD=X	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	0.22	0.88	-0.66
Sortino ratio Return per unit of downside risk	0.36	1.37	-1.01
Omega ratio Gain probability vs. loss probability	1.04	1.21	-0.16
Calmar ratio Return relative to maximum drawdown	-0.53	1.39	-1.92
Martin ratio Return relative to average drawdown	-1.03	6.43	-7.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GBPUSD=X vs. ^GSPC - Sharpe Ratio Comparison

The current GBPUSD=X Sharpe Ratio is 0.22, which is lower than the ^GSPC Sharpe Ratio of 0.88. The chart below compares the historical Sharpe Ratios of GBPUSD=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

	GBPUSD=X	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.22	0.88	-0.66
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.10	0.62	-0.71
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.08	0.68	-0.76
Sharpe Ratio (All Time) Calculated using the full available price history	-0.22	0.46	-0.68

Correlation

The correlation between GBPUSD=X and ^GSPC is 0.24, 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

GBPUSD=X vs. ^GSPC - Drawdown Comparison

The maximum GBPUSD=X drawdown since its inception was -49.29%, smaller than the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for GBPUSD=X and ^GSPC.

Drawdown Indicators

	GBPUSD=X	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-49.29%	-56.78%	+7.49%
Max Drawdown (1Y) Largest decline over 1 year	-5.26%	-9.10%	+3.84%
Max Drawdown (5Y) Largest decline over 5 years	-24.78%	-25.43%	+0.65%
Max Drawdown (10Y) Largest decline over 10 years	-27.99%	-33.92%	+5.93%
Current Drawdown Current decline from peak	-37.20%	-5.67%	-31.53%
Average Drawdown Average peak-to-trough decline	-30.76%	-10.75%	-20.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.69%	2.62%	+0.07%

Volatility

GBPUSD=X vs. ^GSPC - Volatility Comparison

The current volatility for GBP/USD (GBPUSD=X) is 2.56%, while S&P 500 Index (^GSPC) has a volatility of 5.29%. This indicates that GBPUSD=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

	GBPUSD=X	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.56%	5.29%	-2.73%
Volatility (6M) Calculated over the trailing 6-month period	4.64%	9.55%	-4.91%
Volatility (1Y) Calculated over the trailing 1-year period	6.79%	18.33%	-11.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.28%	16.90%	-8.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.14%	18.04%	-8.90%