IPOL.L vs. SPXS.L
IPOL.L (iShares MSCI Poland UCITS ETF USD (Acc)) and SPXS.L (Invesco S&P 500 UCITS ETF) are both Global Equities funds - IPOL.L tracks the iShares MSCI Poland UCITS ETF USD (Acc) while SPXS.L tracks the Invesco S&P 500 UCITS ETF. Both are passively managed. Over the past 10 years, IPOL.L returned 9.83%/yr vs -27.39%/yr for SPXS.L. A 0.54 correlation means they provide meaningful diversification when combined. IPOL.L charges 0.74%/yr vs 0.05%/yr for SPXS.L.
Performance
IPOL.L vs. SPXS.L - Performance Comparison
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Returns By Period
In the year-to-date period, IPOL.L achieves a 17.14% return, which is significantly higher than SPXS.L's 10.20% return. Over the past 10 years, IPOL.L has outperformed SPXS.L with an annualized return of 9.83%, while SPXS.L has yielded a comparatively lower -27.39% annualized return.
IPOL.L
- 1D
- 0.73%
- 1M
- 1.61%
- 6M
- 14.43%
- YTD
- 17.14%
- 1Y
- 35.57%
- 3Y*
- 29.42%
- 5Y*
- 15.25%
- 10Y*
- 9.83%
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%
IPOL.L vs. SPXS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IPOL.L iShares MSCI Poland UCITS ETF USD (Acc) | 17.14% | 72.75% | -6.10% | 49.20% | -26.61% | 6.83% | -11.21% | -6.81% | -12.61% | 54.17% |
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 IPOL.L and SPXS.L is 0.50, 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 | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Jan 21, 2011 | 0.54 |
The correlation between IPOL.L and SPXS.L has been stable across timeframes, ranging from 0.50 to 0.56 - a consistent structural relationship.
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Return for Risk
IPOL.L vs. SPXS.L — Risk / Return Rank
IPOL.L
SPXS.L
IPOL.L vs. SPXS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Poland UCITS ETF USD (Acc) (IPOL.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.
| IPOL.L | SPXS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.38 | ||
| Sortino ratioReturn per unit of downside risk | +2.79 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 0.52 | +0.72 |
| Calmar ratioReturn relative to maximum drawdown | 3.29 | -1.00 | +4.29 |
| Martin ratioReturn relative to average drawdown | 7.57 | -1.23 | +8.80 |
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Drawdowns
IPOL.L vs. SPXS.L - Drawdown Comparison
The maximum IPOL.L drawdown since its inception was -68.05%, smaller than the maximum SPXS.L drawdown of -99.07%. Use the drawdown chart below to compare losses from any high point for IPOL.L and SPXS.L.
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Drawdown Indicators
| IPOL.L | SPXS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.05% | -99.07% | +31.02% |
Max Drawdown (1Y)Largest decline over 1 year | -10.48% | -99.07% | +88.59% |
Max Drawdown (3Y)Largest decline over 3 years | -22.43% | -99.07% | +76.64% |
Max Drawdown (5Y)Largest decline over 5 years | -55.92% | -99.07% | +43.15% |
Max Drawdown (10Y)Largest decline over 10 years | -65.79% | -99.07% | +33.28% |
Current DrawdownCurrent decline from peak | -0.97% | -98.90% | +97.93% |
Average DrawdownAverage peak-to-trough decline | -29.58% | -7.67% | -21.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.56% | 80.57% | -76.01% |
Volatility
IPOL.L vs. SPXS.L - Volatility Comparison
iShares MSCI Poland UCITS ETF USD (Acc) (IPOL.L) has a higher volatility of 6.25% compared to Invesco S&P 500 UCITS ETF (SPXS.L) at 2.73%. This indicates that IPOL.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
| IPOL.L | SPXS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.25% | 2.73% | +3.52% |
Volatility (6M)Calculated over the trailing 6-month period | 19.47% | 9.24% | +10.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.80% | 99.43% | -74.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.16% | 47.13% | -16.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.41% | 35.27% | -7.86% |
IPOL.L vs. SPXS.L - Expense Ratio Comparison
IPOL.L has a 0.74% expense ratio, which is higher than SPXS.L's 0.05% expense ratio.
Dividends
IPOL.L vs. SPXS.L - Dividend Comparison
Neither IPOL.L nor SPXS.L has paid dividends to shareholders.
Frequently Asked Questions
IPOL.L and SPXS.L have a correlation of 0.50, 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 0.74% for IPOL.L.
IPOL.L tracks iShares MSCI Poland UCITS ETF USD (Acc), while SPXS.L tracks Invesco S&P 500 UCITS ETF. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.74% for IPOL.L and 0.05% for SPXS.L.
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