IAUS.L vs. SPXS.L
IAUS.L (iShares MSCI Australia UCITS ETF) and SPXS.L (Invesco S&P 500 UCITS ETF) are both Global Equities funds - IAUS.L tracks the iShares MSCI Australia UCITS ETF while SPXS.L tracks the Invesco S&P 500 UCITS ETF. Both are passively managed. Over the past 10 years, IAUS.L returned 7.82%/yr vs -27.39%/yr for SPXS.L. A 0.70 correlation means they provide meaningful diversification when combined. IAUS.L charges 0.50%/yr vs 0.05%/yr for SPXS.L.
Performance
IAUS.L vs. SPXS.L - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with IAUS.L having a 10.19% return and SPXS.L slightly higher at 10.20%. Over the past 10 years, IAUS.L has outperformed SPXS.L with an annualized return of 7.82%, while SPXS.L has yielded a comparatively lower -27.39% annualized return.
IAUS.L
- 1D
- -0.35%
- 1M
- -0.56%
- 6M
- 9.67%
- YTD
- 10.19%
- 1Y
- 13.36%
- 3Y*
- 11.01%
- 5Y*
- 6.53%
- 10Y*
- 7.82%
SPXS.L
- 1D
- -0.12%
- 1M
- -0.05%
- 6M
- 9.96%
- YTD
- 10.20%
- 1Y
- -98.78%
- 3Y*
- -74.11%
- 5Y*
- -54.94%
- 10Y*
- -27.39%
IAUS.L vs. SPXS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IAUS.L iShares MSCI Australia UCITS ETF | 10.19% | 13.86% | 1.70% | 13.84% | -5.50% | 8.27% | 9.46% | 21.85% | -12.47% | 20.13% |
SPXS.L Invesco S&P 500 UCITS ETF | 10.20% | -98.82% | 25.56% | 27.00% | -18.53% | 29.64% | 17.89% | 30.86% | -5.19% | 21.62% |
Correlation
The correlation between IAUS.L and SPXS.L is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.71 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since May 20, 2010 | 0.70 |
The correlation between IAUS.L and SPXS.L has been stable across timeframes, ranging from 0.64 to 0.71 - a consistent structural relationship.
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Return for Risk
IAUS.L vs. SPXS.L — Risk / Return Rank
IAUS.L
SPXS.L
IAUS.L vs. SPXS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Australia UCITS ETF (IAUS.L) and Invesco S&P 500 UCITS ETF (SPXS.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.
| IAUS.L | SPXS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.81 | ||
| Sortino ratioReturn per unit of downside risk | +2.10 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 0.52 | +0.63 |
| Calmar ratioReturn relative to maximum drawdown | 1.35 | -1.00 | +2.35 |
| Martin ratioReturn relative to average drawdown | 3.32 | -1.23 | +4.54 |
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Drawdowns
IAUS.L vs. SPXS.L - Drawdown Comparison
The maximum IAUS.L drawdown since its inception was -44.76%, smaller than the maximum SPXS.L drawdown of -99.07%. Use the drawdown chart below to compare losses from any high point for IAUS.L and SPXS.L.
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Drawdown Indicators
| IAUS.L | SPXS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.76% | -99.07% | +54.31% |
Max Drawdown (1Y)Largest decline over 1 year | -9.68% | -99.07% | +89.39% |
Max Drawdown (3Y)Largest decline over 3 years | -23.04% | -99.07% | +76.03% |
Max Drawdown (5Y)Largest decline over 5 years | -24.60% | -99.07% | +74.47% |
Max Drawdown (10Y)Largest decline over 10 years | -44.76% | -99.07% | +54.31% |
Current DrawdownCurrent decline from peak | -4.27% | -98.90% | +94.63% |
Average DrawdownAverage peak-to-trough decline | -9.27% | -7.67% | -1.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.95% | 80.57% | -76.62% |
Volatility
IAUS.L vs. SPXS.L - Volatility Comparison
iShares MSCI Australia UCITS ETF (IAUS.L) has a higher volatility of 4.06% compared to Invesco S&P 500 UCITS ETF (SPXS.L) at 2.73%. This indicates that IAUS.L's price experiences larger fluctuations and is considered to be riskier than SPXS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IAUS.L | SPXS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.06% | 2.73% | +1.33% |
Volatility (6M)Calculated over the trailing 6-month period | 13.35% | 9.24% | +4.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.93% | 99.43% | -83.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.54% | 47.13% | -27.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.75% | 35.27% | -14.52% |
IAUS.L vs. SPXS.L - Expense Ratio Comparison
IAUS.L has a 0.50% expense ratio, which is higher than SPXS.L's 0.05% expense ratio.
Dividends
IAUS.L vs. SPXS.L - Dividend Comparison
Neither IAUS.L nor SPXS.L has paid dividends to shareholders.
Frequently Asked Questions
IAUS.L and SPXS.L have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPXS.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPXS.L is cheaper with a 0.05% expense ratio, compared with 0.50% for IAUS.L.
IAUS.L tracks iShares MSCI Australia UCITS ETF, while SPXS.L tracks Invesco S&P 500 UCITS ETF. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.50% for IAUS.L and 0.05% for SPXS.L.
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