IQSS.L vs. USPA.L
IQSS.L (Invesco Global Active ESG Equity UCITS ETF USD Acc) and USPA.L (Franklin S&P 500 Paris Aligned Climate UCITS ETF USD (Acc)) are both exchange-traded funds - IQSS.L is a ESG fund actively managed by Invesco, while USPA.L is a S&P 500 fund tracking the S&P 500 Net Zero 2050 Paris-Aligned ESG Index. IQSS.L is actively managed, while USPA.L is passively managed. Over the past year, IQSS.L returned 29.03% vs 16.65% for USPA.L. Their correlation of 0.82 suggests significant overlap in exposure. IQSS.L charges 0.60%/yr vs 0.07%/yr for USPA.L.
Performance
IQSS.L vs. USPA.L - Performance Comparison
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Different Trading Currencies
IQSS.L is traded in GBp, while USPA.L is traded in USD. To make them comparable, the USPA.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, IQSS.L achieves a 15.17% return, which is significantly higher than USPA.L's 6.57% return.
IQSS.L
- 1D
- 0.00%
- 1M
- -1.03%
- 6M
- 12.19%
- YTD
- 15.17%
- 1Y
- 29.03%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
USPA.L
- 1D
- -0.76%
- 1M
- -1.60%
- 6M
- 6.09%
- YTD
- 6.57%
- 1Y
- 16.65%
- 3Y*
- 17.42%
- 5Y*
- 12.54%
- 10Y*
- —
IQSS.L vs. USPA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IQSS.L Invesco Global Active ESG Equity UCITS ETF USD Acc | 15.17% | 14.30% | 6.63% |
USPA.L Franklin S&P 500 Paris Aligned Climate UCITS ETF USD (Acc) | 6.57% | 7.51% | 9.37% |
Correlation
The correlation between IQSS.L and USPA.L is 0.78, 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 | 0.78 |
Correlation (All Time) Calculated using the full available price history since Jul 10, 2024 | 0.82 |
The correlation between IQSS.L and USPA.L has been stable across timeframes, ranging from 0.78 to 0.82 - a consistent structural relationship.
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Return for Risk
IQSS.L vs. USPA.L — Risk / Return Rank
IQSS.L
USPA.L
IQSS.L vs. USPA.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 (IQSS.L) and Franklin S&P 500 Paris Aligned Climate UCITS ETF USD (Acc) (USPA.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.
| IQSS.L | USPA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.14 | ||
| Sortino ratioReturn per unit of downside risk | +1.55 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.24 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 4.28 | 1.58 | +2.70 |
| Martin ratioReturn relative to average drawdown | 17.51 | 4.81 | +12.69 |
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Drawdowns
IQSS.L vs. USPA.L - Drawdown Comparison
The maximum IQSS.L drawdown since its inception was -18.91%, smaller than the maximum USPA.L drawdown of -20.72%. Use the drawdown chart below to compare losses from any high point for IQSS.L and USPA.L.
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Drawdown Indicators
| IQSS.L | USPA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.91% | -20.72% | +1.81% |
Max Drawdown (1Y)Largest decline over 1 year | -6.81% | -10.49% | +3.68% |
Max Drawdown (3Y)Largest decline over 3 years | — | -20.72% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -20.72% | — |
Current DrawdownCurrent decline from peak | -1.93% | -2.40% | +0.47% |
Average DrawdownAverage peak-to-trough decline | -2.74% | -4.11% | +1.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.66% | 3.45% | -1.79% |
Volatility
IQSS.L vs. USPA.L - Volatility Comparison
Invesco Global Active ESG Equity UCITS ETF USD Acc (IQSS.L) and Franklin S&P 500 Paris Aligned Climate UCITS ETF USD (Acc) (USPA.L) have volatilities of 3.77% and 3.81%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IQSS.L | USPA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.77% | 3.81% | -0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 9.18% | 9.98% | -0.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.93% | 12.58% | -0.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.11% | 16.09% | -1.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.11% | 16.06% | -1.95% |
IQSS.L vs. USPA.L - Expense Ratio Comparison
IQSS.L has a 0.60% expense ratio, which is higher than USPA.L's 0.07% expense ratio.
Dividends
IQSS.L vs. USPA.L - Dividend Comparison
Neither IQSS.L nor USPA.L has paid dividends to shareholders.
Frequently Asked Questions
IQSS.L and USPA.L have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, USPA.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
USPA.L is cheaper with a 0.07% expense ratio, compared with 0.60% for IQSS.L.
IQSS.L is categorized as ESG, while USPA.L is S&P 500. They also come from different issuers: Invesco and Franklin. Their fees differ too: 0.60% for IQSS.L and 0.07% for USPA.L.
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