HSPX.L vs. IESU.L
HSPX.L (HSBC S&P 500 UCITS ETF) and IESU.L (iShares S&P 500 Energy Sector UCITS ETF USD (Acc)) are both exchange-traded funds - HSPX.L is a S&P 500 fund tracking the S&P 500 Index, while IESU.L is a Energy Equities fund tracking the S&P 500 Capped 35/20 Energy Index NTR. Both are passively managed. Over the past 10 years, HSPX.L returned 14.51%/yr vs 8.50%/yr for IESU.L. At a 0.44 correlation, their price movements are largely independent. HSPX.L charges 0.09%/yr vs 0.15%/yr for IESU.L.
Performance
HSPX.L vs. IESU.L - Performance Comparison
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Returns By Period
In the year-to-date period, HSPX.L achieves a 8.99% return, which is significantly lower than IESU.L's 28.61% return. Over the past 10 years, HSPX.L has outperformed IESU.L with an annualized return of 14.51%, while IESU.L has yielded a comparatively lower 8.50% annualized return.
HSPX.L
- 1D
- -1.07%
- 1M
- -1.00%
- 6M
- 7.48%
- YTD
- 8.99%
- 1Y
- 19.55%
- 3Y*
- 18.22%
- 5Y*
- 13.30%
- 10Y*
- 14.51%
IESU.L
- 1D
- 1.07%
- 1M
- 4.80%
- 6M
- 20.56%
- YTD
- 28.61%
- 1Y
- 35.99%
- 3Y*
- 13.44%
- 5Y*
- 22.82%
- 10Y*
- 8.50%
HSPX.L vs. IESU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HSPX.L HSBC S&P 500 UCITS ETF | 8.99% | 9.36% | 27.32% | 19.94% | -9.10% | 30.95% | 13.89% | 26.37% | 0.09% | 10.81% |
IESU.L iShares S&P 500 Energy Sector UCITS ETF USD (Acc) | 28.61% | 2.26% | 5.45% | -5.96% | 83.53% | 53.82% | -35.62% | 5.37% | -13.39% | -10.01% |
Correlation
The correlation between HSPX.L and IESU.L is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Nov 20, 2015 | 0.44 |
The correlation between HSPX.L and IESU.L shifts across timeframes, from -0.13 (1 year) to 0.44 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HSPX.L vs. IESU.L — Risk / Return Rank
HSPX.L
IESU.L
HSPX.L vs. IESU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC S&P 500 UCITS ETF (HSPX.L) and iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IESU.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.
| HSPX.L | IESU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.31 | ||
| Sortino ratioReturn per unit of downside risk | +0.53 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.26 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.72 | 2.07 | +0.65 |
| Martin ratioReturn relative to average drawdown | 9.67 | 5.01 | +4.66 |
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Drawdowns
HSPX.L vs. IESU.L - Drawdown Comparison
The maximum HSPX.L drawdown since its inception was -44.77%, smaller than the maximum IESU.L drawdown of -63.88%. Use the drawdown chart below to compare losses from any high point for HSPX.L and IESU.L.
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Drawdown Indicators
| HSPX.L | IESU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.77% | -63.88% | +19.11% |
Max Drawdown (1Y)Largest decline over 1 year | -7.16% | -17.34% | +10.18% |
Max Drawdown (3Y)Largest decline over 3 years | -20.76% | -26.36% | +5.60% |
Max Drawdown (5Y)Largest decline over 5 years | -20.76% | -26.36% | +5.60% |
Max Drawdown (10Y)Largest decline over 10 years | -25.43% | -62.16% | +36.73% |
Current DrawdownCurrent decline from peak | -1.99% | -10.65% | +8.66% |
Average DrawdownAverage peak-to-trough decline | -8.89% | -20.50% | +11.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.02% | 7.16% | -5.14% |
Volatility
HSPX.L vs. IESU.L - Volatility Comparison
The current volatility for HSBC S&P 500 UCITS ETF (HSPX.L) is 2.99%, while iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IESU.L) has a volatility of 7.50%. This indicates that HSPX.L experiences smaller price fluctuations and is considered to be less risky than IESU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HSPX.L | IESU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.99% | 7.50% | -4.51% |
Volatility (6M)Calculated over the trailing 6-month period | 7.86% | 21.74% | -13.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.09% | 24.54% | -13.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.31% | 29.08% | -14.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.35% | 29.16% | -13.81% |
HSPX.L vs. IESU.L - Expense Ratio Comparison
HSPX.L has a 0.09% expense ratio, which is lower than IESU.L's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
HSPX.L vs. IESU.L - Dividend Comparison
HSPX.L's dividend yield for the trailing twelve months is around 0.84%, while IESU.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HSPX.L HSBC S&P 500 UCITS ETF | 0.84% | 0.94% | 0.98% | 1.19% | 1.27% | 0.95% | 1.41% | 1.47% | 1.60% | 1.54% | 1.49% | 1.61% |
IESU.L iShares S&P 500 Energy Sector UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HSPX.L and IESU.L have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HSPX.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HSPX.L is cheaper with a 0.09% expense ratio, compared with 0.15% for IESU.L.
HSPX.L is categorized as S&P 500, while IESU.L is Energy Equities. HSPX.L tracks S&P 500 Index, while IESU.L tracks S&P 500 Capped 35/20 Energy Index NTR. They also come from different issuers: HSBC and iShares. Their fees differ too: 0.09% for HSPX.L and 0.15% for IESU.L.
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