IQSA.L vs. SPXS.L
IQSA.L (Invesco Global Active ESG Equity UCITS ETF USD Acc) and SPXS.L (Invesco S&P 500 UCITS ETF) are both Global Equities funds from Invesco. IQSA.L is actively managed, while SPXS.L is passively managed. Over the past 5 years, IQSA.L returned 14.47%/yr vs -54.94%/yr for SPXS.L. Their correlation of 0.92 suggests significant overlap in exposure. IQSA.L charges 0.30%/yr vs 0.05%/yr for SPXS.L.
Performance
IQSA.L vs. SPXS.L - Performance Comparison
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Returns By Period
In the year-to-date period, IQSA.L achieves a 15.33% return, which is significantly higher than SPXS.L's 10.20% return.
IQSA.L
- 1D
- -0.67%
- 1M
- -0.00%
- 6M
- 13.70%
- YTD
- 15.33%
- 1Y
- 30.00%
- 3Y*
- 22.95%
- 5Y*
- 14.47%
- 10Y*
- —
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%
IQSA.L vs. SPXS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IQSA.L Invesco Global Active ESG Equity UCITS ETF USD Acc | 15.33% | 22.67% | 22.82% | 24.38% | -14.00% | 24.95% | 10.20% | 8.32% |
SPXS.L Invesco S&P 500 UCITS ETF | 10.20% | -98.82% | 25.56% | 27.00% | -18.53% | 29.64% | 17.89% | 7.58% |
Correlation
The correlation between IQSA.L and SPXS.L is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.89 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Jul 30, 2019 | 0.92 |
The correlation between IQSA.L and SPXS.L has been stable across timeframes, ranging from 0.89 to 0.92 - a consistent structural relationship.
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Return for Risk
IQSA.L vs. SPXS.L — Risk / Return Rank
IQSA.L
SPXS.L
IQSA.L vs. SPXS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Global Active ESG Equity UCITS ETF USD Acc (IQSA.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.
| IQSA.L | SPXS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.21 | ||
| Sortino ratioReturn per unit of downside risk | +4.12 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 0.52 | +0.88 |
| Calmar ratioReturn relative to maximum drawdown | 3.45 | -1.00 | +4.45 |
| Martin ratioReturn relative to average drawdown | 14.73 | -1.23 | +15.96 |
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Drawdowns
IQSA.L vs. SPXS.L - Drawdown Comparison
The maximum IQSA.L drawdown since its inception was -34.64%, smaller than the maximum SPXS.L drawdown of -99.07%. Use the drawdown chart below to compare losses from any high point for IQSA.L and SPXS.L.
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Drawdown Indicators
| IQSA.L | SPXS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.64% | -99.07% | +64.43% |
Max Drawdown (1Y)Largest decline over 1 year | -8.65% | -99.07% | +90.42% |
Max Drawdown (3Y)Largest decline over 3 years | -16.99% | -99.07% | +82.08% |
Max Drawdown (5Y)Largest decline over 5 years | -25.67% | -99.07% | +73.40% |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.07% | — |
Current DrawdownCurrent decline from peak | -0.67% | -98.90% | +98.23% |
Average DrawdownAverage peak-to-trough decline | -4.85% | -7.67% | +2.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.03% | 80.57% | -78.54% |
Volatility
IQSA.L vs. SPXS.L - Volatility Comparison
Invesco Global Active ESG Equity UCITS ETF USD Acc (IQSA.L) has a higher volatility of 3.74% compared to Invesco S&P 500 UCITS ETF (SPXS.L) at 2.73%. This indicates that IQSA.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
| IQSA.L | SPXS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.74% | 2.73% | +1.01% |
Volatility (6M)Calculated over the trailing 6-month period | 10.94% | 9.24% | +1.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.50% | 99.43% | -85.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.56% | 47.13% | -30.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.00% | 35.27% | -17.27% |
IQSA.L vs. SPXS.L - Expense Ratio Comparison
IQSA.L has a 0.30% expense ratio, which is higher than SPXS.L's 0.05% expense ratio.
Dividends
IQSA.L vs. SPXS.L - Dividend Comparison
Neither IQSA.L nor SPXS.L has paid dividends to shareholders.
Frequently Asked Questions
IQSA.L and SPXS.L have a correlation of 0.89, 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 0.30% for IQSA.L.
Their fees differ too: 0.30% for IQSA.L and 0.05% for SPXS.L.
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