ISPE.L vs. SPES.L
ISPE.L (iShares S&P 500 Equal Weight UCITS ETF GBP Hedged (Acc)) and SPES.L (Invesco S&P 500 Equal Weight UCITS ETF Dist) are both S&P 500 funds - ISPE.L tracks the S&P 500 Equal Weight Index (USD) while SPES.L tracks the S&P 500 Equal Weight Index. Both are passively managed. Over the past 3 years, ISPE.L returned 12.67%/yr vs 12.27%/yr for SPES.L. A 0.77 correlation means they provide meaningful diversification when combined. ISPE.L charges 0.17%/yr vs 0.20%/yr for SPES.L.
Performance
ISPE.L vs. SPES.L - Performance Comparison
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Different Trading Currencies
ISPE.L is traded in GBP, while SPES.L is traded in GBp. To make them comparable, the SPES.L 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 ISPE.L having a 11.64% return and SPES.L slightly higher at 11.91%.
ISPE.L
- 1D
- -0.40%
- 1M
- 0.94%
- 6M
- 8.09%
- YTD
- 11.64%
- 1Y
- 17.98%
- 3Y*
- 12.67%
- 5Y*
- —
- 10Y*
- —
SPES.L
- 1D
- 0.07%
- 1M
- 0.84%
- 6M
- 7.89%
- YTD
- 11.91%
- 1Y
- 18.23%
- 3Y*
- 12.27%
- 5Y*
- 9.44%
- 10Y*
- —
ISPE.L vs. SPES.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ISPE.L iShares S&P 500 Equal Weight UCITS ETF GBP Hedged (Acc) | 11.64% | 11.30% | 11.48% | 12.23% | -3.77% |
SPES.L Invesco S&P 500 Equal Weight UCITS ETF Dist | 11.91% | 3.95% | 13.66% | 8.18% | -0.72% |
Correlation
The correlation between ISPE.L and SPES.L is 0.76, 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 | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Aug 2, 2022 | 0.77 |
The correlation between ISPE.L and SPES.L has been stable across timeframes, ranging from 0.76 to 0.79 - a consistent structural relationship.
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Return for Risk
ISPE.L vs. SPES.L — Risk / Return Rank
ISPE.L
SPES.L
ISPE.L vs. SPES.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 Equal Weight UCITS ETF GBP Hedged (Acc) (ISPE.L) and Invesco S&P 500 Equal Weight UCITS ETF Dist (SPES.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.
| ISPE.L | SPES.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.26 | ||
| Sortino ratioReturn per unit of downside risk | -0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.35 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.59 | 3.16 | -0.57 |
| Martin ratioReturn relative to average drawdown | 9.22 | 10.26 | -1.04 |
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Drawdowns
ISPE.L vs. SPES.L - Drawdown Comparison
The maximum ISPE.L drawdown since its inception was -18.22%, smaller than the maximum SPES.L drawdown of -34.38%. Use the drawdown chart below to compare losses from any high point for ISPE.L and SPES.L.
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Drawdown Indicators
| ISPE.L | SPES.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.22% | -34.38% | +16.16% |
Max Drawdown (1Y)Largest decline over 1 year | -6.90% | -5.74% | -1.16% |
Max Drawdown (3Y)Largest decline over 3 years | -18.22% | -19.65% | +1.43% |
Max Drawdown (5Y)Largest decline over 5 years | — | -19.65% | — |
Current DrawdownCurrent decline from peak | -0.40% | -1.24% | +0.84% |
Average DrawdownAverage peak-to-trough decline | -3.72% | -11.91% | +8.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.95% | 1.77% | +0.18% |
Volatility
ISPE.L vs. SPES.L - Volatility Comparison
iShares S&P 500 Equal Weight UCITS ETF GBP Hedged (Acc) (ISPE.L) and Invesco S&P 500 Equal Weight UCITS ETF Dist (SPES.L) have volatilities of 2.67% and 2.81%, 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
| ISPE.L | SPES.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.67% | 2.81% | -0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 7.96% | 6.62% | +1.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.82% | 9.50% | +1.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.63% | 14.00% | +0.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.63% | 20.83% | -6.20% |
ISPE.L vs. SPES.L - Expense Ratio Comparison
ISPE.L has a 0.17% expense ratio, which is lower than SPES.L's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
ISPE.L vs. SPES.L - Dividend Comparison
ISPE.L has not paid dividends to shareholders, while SPES.L's dividend yield for the trailing twelve months is around 1.29%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
ISPE.L iShares S&P 500 Equal Weight UCITS ETF GBP Hedged (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPES.L Invesco S&P 500 Equal Weight UCITS ETF Dist | 1.29% | 1.37% | 1.36% | 1.48% | 1.49% | 0.74% |
Frequently Asked Questions
ISPE.L and SPES.L have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ISPE.L is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ISPE.L is cheaper with a 0.17% expense ratio, compared with 0.20% for SPES.L.
ISPE.L tracks S&P 500 Equal Weight Index (USD), while SPES.L tracks S&P 500 Equal Weight Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.17% for ISPE.L and 0.20% for SPES.L.
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