I500.L vs. GPSA.L

Last updated Jun 5, 2026

I500.L (iShares S&P 500 Swap UCITS ETF) and GPSA.L (iShares MSCI USA ESG Screened UCITS ETF USD (Acc)) are both exchange-traded funds - I500.L is a S&P 500 fund tracking the S&P 500 Net Dividends Reinvested Index (Net USD), while GPSA.L is a Large Cap Blend Equities fund tracking the Russell 1000 TR USD. Both are passively managed. Over the past 5 years, I500.L returned 15.15%/yr vs 15.27%/yr for GPSA.L. With a 0.99 correlation, they move nearly in lockstep. Both charge a 0.07% expense ratio.

Performance

I500.L vs. GPSA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares S&P 500 Swap UCITS ETF (I500.L) and iShares MSCI USA ESG Screened UCITS ETF USD (Acc) (GPSA.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with I500.L having a 10.61% return and GPSA.L slightly lower at 10.42%.

I500.L

• 1D: 0.05%
• 1M: 5.52%
• YTD: 10.61%
• 6M: 10.52%
• 1Y: 29.34%
• 3Y*: 19.22%
• 5Y*: 15.15%
• 10Y*: —

GPSA.L

• 1D: 0.14%
• 1M: 6.17%
• YTD: 10.42%
• 6M: 10.23%
• 1Y: 29.82%
• 3Y*: 20.13%
• 5Y*: 15.27%
• 10Y*: —

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

I500.L vs. GPSA.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
I500.L iShares S&P 500 Swap UCITS ETF	10.61%	9.56%	27.57%	20.04%	-8.74%	31.23%	5.72%
GPSA.L iShares MSCI USA ESG Screened UCITS ETF USD (Acc)	10.42%	9.72%	28.95%	23.60%	-11.94%	29.93%	6.69%

Correlation

The correlation between I500.L and GPSA.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 Sep 30, 2020	0.99

The correlation between I500.L and GPSA.L has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.

I500.L vs. GPSA.L - Sectors Allocation Comparison

Sectors	I500.L	GPSA.L
Technology	35.6%	40.6%
Financial Services	11.8%	11.7%
Communication Services	11.2%	11.7%
Consumer Cyclical	10.1%	10.6%
Healthcare	8.5%	9.0%
Industrials	8.3%	7.3%
Consumer Defensive	4.9%	2.5%
Energy	3.5%	1.7%
Utilities	2.4%	1.2%
Real Estate	1.9%	2.0%
Basic Materials	1.8%	1.8%

Return for Risk

I500.L vs. GPSA.L — Risk / Return Rank

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

I500.L

I500.L Risk / Return Rank: 83
I500.L Sharpe Ratio Rank: 86
I500.L Sortino Ratio Rank: 85
I500.L Omega Ratio Rank: 86
I500.L Calmar Ratio Rank: 80
I500.L Martin Ratio Rank: 79

GPSA.L

GPSA.L Risk / Return Rank: 75
GPSA.L Sharpe Ratio Rank: 81
GPSA.L Sortino Ratio Rank: 79
GPSA.L Omega Ratio Rank: 81
GPSA.L Calmar Ratio Rank: 68
GPSA.L Martin Ratio Rank: 64

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.

I500.L vs. GPSA.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 Swap UCITS ETF (I500.L) and iShares MSCI USA ESG Screened UCITS ETF USD (Acc) (GPSA.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.

	I500.L	GPSA.L	Difference
Sharpe ratio: Return per unit of total volatility	2.81	2.59	+0.22
Sortino ratio: Return per unit of downside risk	3.77	3.49	+0.28
Omega ratio: Gain probability vs. loss probability	1.52	1.48	+0.05
Calmar ratio: Return relative to maximum drawdown	4.13	3.32	+0.81
Martin ratio: Return relative to average drawdown	15.23	11.67	+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.

I500.L vs. GPSA.L - Sharpe Ratio Comparison

The current I500.L Sharpe Ratio is 2.81, which is comparable to the GPSA.L Sharpe Ratio of 2.59. The chart below compares the historical Sharpe Ratios of I500.L and GPSA.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.

Sharpe Ratios by Period

	I500.L	GPSA.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.81	2.59	+0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.07	1.01	+0.06
Sharpe Ratio (All Time) Calculated using the full available price history	1.13	0.96	+0.18

Drawdowns

I500.L vs. GPSA.L - Drawdown Comparison

The maximum I500.L drawdown since its inception was -20.75%, smaller than the maximum GPSA.L drawdown of -23.14%. Use the drawdown chart below to compare losses from any high point for I500.L and GPSA.L.

Drawdown Indicators

	I500.L	GPSA.L	Difference
Max Drawdown Largest peak-to-trough decline	-20.75%	-23.14%	+2.39%
Max Drawdown (1Y) Largest decline over 1 year	-7.08%	-8.95%	+1.87%
Max Drawdown (3Y) Largest decline over 3 years	-20.75%	-22.33%	+1.58%
Max Drawdown (5Y) Largest decline over 5 years	-20.75%	-22.33%	+1.58%
Current Drawdown Current decline from peak	-0.23%	-0.19%	-0.04%
Average Drawdown Average peak-to-trough decline	-3.35%	-4.09%	+0.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.92%	2.55%	-0.63%

Volatility

I500.L vs. GPSA.L - Volatility Comparison

The current volatility for iShares S&P 500 Swap UCITS ETF (I500.L) is 2.59%, while iShares MSCI USA ESG Screened UCITS ETF USD (Acc) (GPSA.L) has a volatility of 2.87%. This indicates that I500.L experiences smaller price fluctuations and is considered to be less risky than GPSA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	I500.L	GPSA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.59%	2.87%	-0.28%
Volatility (6M) Calculated over the trailing 6-month period	7.12%	7.86%	-0.74%
Volatility (1Y) Calculated over the trailing 1-year period	10.40%	11.45%	-1.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.21%	15.12%	-0.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.30%	16.70%	-2.40%

I500.L vs. GPSA.L - Expense Ratio Comparison

Both I500.L and GPSA.L have an expense ratio of 0.07%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

I500.L vs. GPSA.L - Dividend Comparison

Neither I500.L nor GPSA.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both I500.L and GPSA.L in my portfolio?

With a correlation of 0.99, I500.L and GPSA.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.

Which ETF is better, I500.L or GPSA.L?

Both ETFs have the same 0.07% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, I500.L or GPSA.L?

I500.L and GPSA.L have the same expense ratio: 0.07% per year.

What is the main difference between I500.L and GPSA.L?

I500.L is categorized as S&P 500, while GPSA.L is Large Cap Blend Equities. I500.L tracks S&P 500 Net Dividends Reinvested Index (Net USD), while GPSA.L tracks Russell 1000 TR USD.