GSPX.L vs. G500.L
GSPX.L (iShares Core S&P 500 UCITS ETF) and G500.L (Invesco S&P 500 UCITS ETF GBP Hedged (Acc)) are both exchange-traded funds - GSPX.L is a S&P 500 fund tracking the S&P 500 Index, while G500.L is a US Equities fund tracking the S&P 500 GBP Daily Hedged Index. Both are passively managed. Over the past 5 years, GSPX.L returned 11.85%/yr vs 12.17%/yr for G500.L. With a 0.98 correlation, they move nearly in lockstep. GSPX.L charges 0.10%/yr vs 0.05%/yr for G500.L.
Performance
GSPX.L vs. G500.L - Performance Comparison
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Different Trading Currencies
GSPX.L is traded in GBP, while G500.L is traded in GBp. To make them comparable, the G500.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with GSPX.L having a 9.80% return and G500.L slightly higher at 10.00%.
GSPX.L
- 1D
- 0.08%
- 1M
- 0.32%
- 6M
- 8.49%
- YTD
- 9.80%
- 1Y
- 22.23%
- 3Y*
- 19.31%
- 5Y*
- 11.85%
- 10Y*
- —
G500.L
- 1D
- 0.04%
- 1M
- 0.35%
- 6M
- 8.64%
- YTD
- 10.00%
- 1Y
- 21.97%
- 3Y*
- 19.67%
- 5Y*
- 12.17%
- 10Y*
- —
GSPX.L vs. G500.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GSPX.L iShares Core S&P 500 UCITS ETF | 9.80% | 17.16% | 24.72% | 24.87% | -20.64% | 28.96% | 22.53% |
G500.L Invesco S&P 500 UCITS ETF GBP Hedged (Acc) | 10.00% | 17.45% | 24.98% | 24.88% | -19.98% | 28.95% | 20.65% |
Correlation
The correlation between GSPX.L and G500.L is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2020 | 0.98 |
The correlation between GSPX.L and G500.L has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
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Return for Risk
GSPX.L vs. G500.L — Risk / Return Rank
GSPX.L
G500.L
GSPX.L vs. G500.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core S&P 500 UCITS ETF (GSPX.L) and Invesco S&P 500 UCITS ETF GBP Hedged (Acc) (G500.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.
| GSPX.L | G500.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.33 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.65 | 2.66 | -0.02 |
| Martin ratioReturn relative to average drawdown | 10.82 | 10.74 | +0.08 |
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Drawdowns
GSPX.L vs. G500.L - Drawdown Comparison
The maximum GSPX.L drawdown since its inception was -34.98%, which is greater than G500.L's maximum drawdown of -25.20%. Use the drawdown chart below to compare losses from any high point for GSPX.L and G500.L.
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Drawdown Indicators
| GSPX.L | G500.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.98% | -25.20% | -9.78% |
Max Drawdown (1Y)Largest decline over 1 year | -8.37% | -8.21% | -0.16% |
Max Drawdown (3Y)Largest decline over 3 years | -18.97% | -18.22% | -0.75% |
Max Drawdown (5Y)Largest decline over 5 years | -25.80% | -25.20% | -0.60% |
Current DrawdownCurrent decline from peak | -0.71% | -0.57% | -0.14% |
Average DrawdownAverage peak-to-trough decline | -5.56% | -5.31% | -0.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.05% | 2.04% | +0.01% |
Volatility
GSPX.L vs. G500.L - Volatility Comparison
iShares Core S&P 500 UCITS ETF (GSPX.L) and Invesco S&P 500 UCITS ETF GBP Hedged (Acc) (G500.L) have volatilities of 2.92% and 2.79%, 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.
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Volatility by Period
| GSPX.L | G500.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.92% | 2.79% | +0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 9.27% | 9.28% | -0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.05% | 12.06% | -0.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.14% | 15.99% | +0.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.62% | 15.87% | +1.75% |
GSPX.L vs. G500.L - Expense Ratio Comparison
GSPX.L has a 0.10% expense ratio, which is higher than G500.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
GSPX.L vs. G500.L - Dividend Comparison
GSPX.L's dividend yield for the trailing twelve months is around 0.80%, while G500.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
G500.L Invesco S&P 500 UCITS ETF GBP Hedged (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GSPX.L iShares Core S&P 500 UCITS ETF | 0.80% | 0.89% | 0.99% | 1.15% | 1.40% | 0.96% | 1.31% | 1.50% | 0.11% |
Frequently Asked Questions
With a correlation of 0.99, GSPX.L and G500.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, G500.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
G500.L is cheaper with a 0.05% expense ratio, compared with 0.10% for GSPX.L.
GSPX.L is categorized as S&P 500, while G500.L is US Equities. GSPX.L tracks S&P 500 Index, while G500.L tracks S&P 500 GBP Daily Hedged Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.10% for GSPX.L and 0.05% for G500.L.
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