ISPE.L vs. SPYL.L
ISPE.L (iShares S&P 500 Equal Weight UCITS ETF GBP Hedged (Acc)) and SPYL.L (SPDR S&P 500 UCITS ETF USD Acc) are both S&P 500 funds - ISPE.L tracks the S&P 500 Equal Weight Index (USD) while SPYL.L tracks the S&P 500. Both are passively managed. Over the past year, ISPE.L returned 17.98% vs 19.67% for SPYL.L. A 0.58 correlation means they provide meaningful diversification when combined. ISPE.L charges 0.17%/yr vs 0.03%/yr for SPYL.L.
Performance
ISPE.L vs. SPYL.L - Performance Comparison
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Different Trading Currencies
ISPE.L is traded in GBP, while SPYL.L is traded in USD. To make them comparable, the SPYL.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, ISPE.L achieves a 11.64% return, which is significantly higher than SPYL.L's 9.18% return.
ISPE.L
- 1D
- -0.40%
- 1M
- 0.94%
- 6M
- 8.09%
- YTD
- 11.64%
- 1Y
- 17.98%
- 3Y*
- 12.67%
- 5Y*
- —
- 10Y*
- —
SPYL.L
- 1D
- -1.07%
- 1M
- -1.76%
- 6M
- 7.38%
- YTD
- 9.18%
- 1Y
- 19.67%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ISPE.L vs. SPYL.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ISPE.L iShares S&P 500 Equal Weight UCITS ETF GBP Hedged (Acc) | 11.64% | 11.30% | 11.48% | 18.16% |
SPYL.L SPDR S&P 500 UCITS ETF USD Acc | 9.18% | 9.02% | 27.54% | 9.16% |
Correlation
The correlation between ISPE.L and SPYL.L is 0.55, 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 | 0.55 |
Correlation (All Time) Calculated using the full available price history since Oct 31, 2023 | 0.58 |
The correlation between ISPE.L and SPYL.L has been stable across timeframes, ranging from 0.55 to 0.58 - a consistent structural relationship.
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Return for Risk
ISPE.L vs. SPYL.L — Risk / Return Rank
ISPE.L
SPYL.L
ISPE.L vs. SPYL.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 SPDR S&P 500 UCITS ETF USD Acc (SPYL.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 | SPYL.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.23 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.29 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.59 | 2.70 | -0.11 |
| Martin ratioReturn relative to average drawdown | 9.22 | 8.97 | +0.25 |
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Drawdowns
ISPE.L vs. SPYL.L - Drawdown Comparison
The maximum ISPE.L drawdown since its inception was -18.22%, smaller than the maximum SPYL.L drawdown of -22.01%. Use the drawdown chart below to compare losses from any high point for ISPE.L and SPYL.L.
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Drawdown Indicators
| ISPE.L | SPYL.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.22% | -22.01% | +3.79% |
Max Drawdown (1Y)Largest decline over 1 year | -6.90% | -7.25% | +0.35% |
Max Drawdown (3Y)Largest decline over 3 years | -18.22% | — | — |
Current DrawdownCurrent decline from peak | -0.40% | -1.87% | +1.47% |
Average DrawdownAverage peak-to-trough decline | -3.72% | -2.87% | -0.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.95% | 2.19% | -0.24% |
Volatility
ISPE.L vs. SPYL.L - Volatility Comparison
The current volatility for iShares S&P 500 Equal Weight UCITS ETF GBP Hedged (Acc) (ISPE.L) is 2.67%, while SPDR S&P 500 UCITS ETF USD Acc (SPYL.L) has a volatility of 3.12%. This indicates that ISPE.L experiences smaller price fluctuations and is considered to be less risky than SPYL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ISPE.L | SPYL.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.67% | 3.12% | -0.45% |
Volatility (6M)Calculated over the trailing 6-month period | 7.96% | 9.26% | -1.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.82% | 12.20% | -1.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.63% | 25.13% | -10.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.63% | 25.13% | -10.50% |
ISPE.L vs. SPYL.L - Expense Ratio Comparison
ISPE.L has a 0.17% expense ratio, which is higher than SPYL.L's 0.03% expense ratio. However, 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. SPYL.L - Dividend Comparison
Neither ISPE.L nor SPYL.L has paid dividends to shareholders.
Frequently Asked Questions
ISPE.L and SPYL.L have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPYL.L is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYL.L is cheaper with a 0.03% expense ratio, compared with 0.17% for ISPE.L.
ISPE.L tracks S&P 500 Equal Weight Index (USD), while SPYL.L tracks S&P 500. They also come from different issuers: iShares and State Street. Their fees differ too: 0.17% for ISPE.L and 0.03% for SPYL.L.
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