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IAEX.L vs. ^GSPC
Performance
Return for Risk
Drawdowns
Volatility

IAEX.L vs. ^GSPC

Last updated Jun 4, 2026

IAEX.L (iShares AEX UCITS ETF EUR (Dist)) is Europe Equities fund tracking the Euronext AEX All Share TR EUR, while ^GSPC (S&P 500 Index) is an index. Over the past 10 years, IAEX.L returned 12.99%/yr vs 14.55%/yr for ^GSPC. At a 0.49 correlation, their price movements are largely independent.

Performance

IAEX.L vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares AEX UCITS ETF EUR (Dist) (IAEX.L) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

IAEX.L 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

The year-to-date returns for both investments are quite close, with IAEX.L having a 10.37% return and ^GSPC slightly higher at 10.75%. Over the past 10 years, IAEX.L has underperformed ^GSPC with an annualized return of 12.99%, while ^GSPC has yielded a comparatively higher 14.55% annualized return.

IAEX.L

1D
-0.36%
1M
3.22%
YTD
10.37%
6M
10.15%
1Y
19.41%
3Y*
13.98%
5Y*
10.57%
10Y*
12.99%

^GSPC

1D
-0.47%
1M
5.75%
YTD
10.75%
6M
9.70%
1Y
27.40%
3Y*
17.84%
5Y*
13.50%
10Y*
14.55%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IAEX.L vs. ^GSPC - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IAEX.L
iShares AEX UCITS ETF EUR (Dist)		10.37%16.56%9.02%14.52%-5.93%21.34%11.18%22.17%-7.39%21.31%
^GSPC
S&P 500 Index		10.75%8.10%25.46%18.02%-9.86%28.09%12.84%23.98%-0.68%9.09%

Correlation

The correlation between IAEX.L and ^GSPC is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.40

Correlation (3Y)
Calculated over the trailing 3-year period

0.37

Correlation (5Y)
Calculated over the trailing 5-year period

0.40

Correlation (10Y)
Calculated over the trailing 10-year period

0.46

Correlation (All Time)
Calculated using the full available price history since Jan 3, 2008

0.49

The correlation between IAEX.L and ^GSPC shifts across timeframes, from 0.37 (3 years) to 0.49 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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iShares AEX UCITS ETF EUR (Dist)

S&P 500 Index

Often compared with IAEX.L:
IAEX.L vs. CSPX.LIAEX.L vs. CNDX.LIAEX.L vs. VOOIAEX.L vs. VGTIAEX.L vs. VUSA.LIAEX.L vs. IUSA.LIAEX.L vs. TDT.AS
Often compared with ^GSPC:
^GSPC vs. ^IBEX^GSPC vs. AVGO^GSPC vs. SCHD^GSPC vs. GC=F^GSPC vs. TSMU^GSPC vs. QQQ^GSPC vs. ACWI

Return for Risk

IAEX.L vs. ^GSPC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IAEX.L
IAEX.L Risk / Return Rank: 4646
Overall Rank
IAEX.L Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
IAEX.L Sortino Ratio Rank: 4343
Sortino Ratio Rank
IAEX.L Omega Ratio Rank: 4343
Omega Ratio Rank
IAEX.L Calmar Ratio Rank: 5353
Calmar Ratio Rank
IAEX.L Martin Ratio Rank: 4646
Martin Ratio Rank
^GSPC
^GSPC Risk / Return Rank: 7373
Overall Rank
^GSPC Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
^GSPC Sortino Ratio Rank: 7171
Sortino Ratio Rank
^GSPC Omega Ratio Rank: 7272
Omega Ratio Rank
^GSPC Calmar Ratio Rank: 6767
Calmar Ratio Rank
^GSPC Martin Ratio Rank: 8181
Martin Ratio Rank
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.

IAEX.L vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares AEX UCITS ETF EUR (Dist) (IAEX.L) 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.

IAEX.L^GSPCDifference
Sharpe ratioReturn per unit of total volatility
1.53
2.38

-0.85

Sortino ratioReturn per unit of downside risk
2.17
3.12

-0.95

Omega ratioGain probability vs. loss probability

1.28

1.45

-0.17

Calmar ratioReturn relative to maximum drawdown

2.58

3.43

-0.85

Martin ratioReturn relative to average drawdown

7.47

12.79

-5.32

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IAEX.L vs. ^GSPC - Sharpe Ratio Comparison

The current IAEX.L Sharpe Ratio is 1.53, which is lower than the ^GSPC Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of IAEX.L and ^GSPC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

IAEX.L^GSPCDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.53

2.38

-0.85

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.70

0.86

-0.16

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.75

0.80

-0.05

Sharpe Ratio (All Time)

Calculated using the full available price history

0.25

0.58

-0.33

Drawdowns

IAEX.L vs. ^GSPC - Drawdown Comparison

The maximum IAEX.L drawdown since its inception was -63.69%, which is greater than ^GSPC's maximum drawdown of -37.07%. Use the drawdown chart below to compare losses from any high point for IAEX.L and ^GSPC.

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Drawdown Indicators

IAEX.L^GSPCDifference

Max Drawdown

Largest peak-to-trough decline

-63.69%

-37.07%

-26.62%

Max Drawdown (1Y)

Largest decline over 1 year

-7.50%

-8.03%

+0.53%

Max Drawdown (3Y)

Largest decline over 3 years

-12.75%

-22.15%

+9.40%

Max Drawdown (5Y)

Largest decline over 5 years

-21.90%

-22.15%

+0.25%

Max Drawdown (10Y)

Largest decline over 10 years

-28.83%

-26.01%

-2.82%

Current Drawdown

Current decline from peak

-0.36%

-0.47%

+0.11%

Average Drawdown

Average peak-to-trough decline

-16.55%

-5.32%

-11.23%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.59%

2.15%

+0.44%

Volatility

IAEX.L vs. ^GSPC - Volatility Comparison

iShares AEX UCITS ETF EUR (Dist) (IAEX.L) has a higher volatility of 3.53% compared to S&P 500 Index (^GSPC) at 2.76%. This indicates that IAEX.L's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IAEX.L^GSPCDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.53%

2.76%

+0.77%

Volatility (6M)

Calculated over the trailing 6-month period

10.14%

8.23%

+1.91%

Volatility (1Y)

Calculated over the trailing 1-year period

12.62%

11.56%

+1.06%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.15%

15.86%

-0.71%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.22%

18.16%

-0.94%

Frequently Asked Questions

IAEX.L and ^GSPC have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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