PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
IUES.L vs. GSPX.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IUES.L vs. GSPX.L

Last updated Jun 5, 2026

IUES.L (iShares S&P 500 Energy Sector UCITS ETF USD (Acc)) and GSPX.L (iShares Core S&P 500 UCITS ETF) are both exchange-traded funds - IUES.L is a Energy Equities fund tracking the MSCI World/Energy NR USD, while GSPX.L is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, IUES.L returned 20.33%/yr vs 11.38%/yr for GSPX.L. At a 0.39 correlation, their price movements are largely independent. IUES.L charges 0.15%/yr vs 0.10%/yr for GSPX.L.

Performance

IUES.L vs. GSPX.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IUES.L) and iShares Core S&P 500 UCITS ETF (GSPX.L). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Different Trading Currencies

IUES.L is traded in USD, while GSPX.L is traded in GBP. To make them comparable, the GSPX.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, IUES.L achieves a 30.45% return, which is significantly higher than GSPX.L's 9.77% return.

IUES.L

1D
-0.36%
1M
-1.09%
YTD
30.45%
6M
29.22%
1Y
46.28%
3Y*
16.84%
5Y*
20.33%
10Y*
9.21%

GSPX.L

1D
0.02%
1M
3.64%
YTD
9.77%
6M
11.62%
1Y
26.03%
3Y*
24.55%
5Y*
11.38%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

IUES.L vs. GSPX.L - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
IUES.L
iShares S&P 500 Energy Sector UCITS ETF USD (Acc)		30.45%9.82%3.87%-0.63%63.84%51.95%-33.35%8.81%-22.01%
GSPX.L
iShares Core S&P 500 UCITS ETF		9.77%25.99%22.56%31.47%-29.09%27.77%18.62%32.87%-11.30%

Correlation

The correlation between IUES.L and GSPX.L is -0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

-0.10

Correlation (3Y)
Calculated over the trailing 3-year period

0.15

Correlation (5Y)
Calculated over the trailing 5-year period

0.30

Correlation (All Time)
Calculated using the full available price history since Jul 4, 2018

0.39

The correlation between IUES.L and GSPX.L shifts across timeframes, from -0.10 (1 year) to 0.39 (all time), reflecting how their relationship changes across market environments.

IUES.L vs. GSPX.L - Sectors Allocation Comparison

Sectors
IUES.L
GSPX.L

Energy

100.0%
3.3%

Basic Materials

-

1.7%

Communication Services

-

10.6%

Consumer Cyclical

-

9.6%

Consumer Defensive

-

4.6%

Financial Services

-

11.3%

Healthcare

-

8.2%

Industrials

-

7.6%

Real Estate

-

1.7%

Technology

-

38.6%

Utilities

-

2.6%

Energy

IUES.L
100.0%
GSPX.L
3.3%

Basic Materials

IUES.L

-

GSPX.L
1.7%

Communication Services

IUES.L

-

GSPX.L
10.6%

Consumer Cyclical

IUES.L

-

GSPX.L
9.6%

Consumer Defensive

IUES.L

-

GSPX.L
4.6%

Financial Services

IUES.L

-

GSPX.L
11.3%

Healthcare

IUES.L

-

GSPX.L
8.2%

Industrials

IUES.L

-

GSPX.L
7.6%

Real Estate

IUES.L

-

GSPX.L
1.7%

Technology

IUES.L

-

GSPX.L
38.6%

Utilities

IUES.L

-

GSPX.L
2.6%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares S&P 500 Energy Sector UCITS ETF USD (Acc)

iShares Core S&P 500 UCITS ETF

Often compared with IUES.L:
IUES.L vs. XLEIUES.L vs. IXCIUES.L vs. CSPX.LIUES.L vs. WENS.LIUES.L vs. VUAA.LIUES.L vs. RSPGIUES.L vs. VWRA.L
Often compared with GSPX.L:
GSPX.L vs. CSPX.LGSPX.L vs. VUSA.LGSPX.L vs. SPYGSPX.L vs. PPFB.DEGSPX.L vs. VUAG.LGSPX.L vs. P500.DEGSPX.L vs. VOO

Return for Risk

IUES.L vs. GSPX.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IUES.L
IUES.L Risk / Return Rank: 6060
Overall Rank
IUES.L Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
IUES.L Sortino Ratio Rank: 5656
Sortino Ratio Rank
IUES.L Omega Ratio Rank: 5959
Omega Ratio Rank
IUES.L Calmar Ratio Rank: 6565
Calmar Ratio Rank
IUES.L Martin Ratio Rank: 5757
Martin Ratio Rank
GSPX.L
GSPX.L Risk / Return Rank: 7373
Overall Rank
GSPX.L Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
GSPX.L Sortino Ratio Rank: 7777
Sortino Ratio Rank
GSPX.L Omega Ratio Rank: 7474
Omega Ratio Rank
GSPX.L Calmar Ratio Rank: 6565
Calmar Ratio Rank
GSPX.L Martin Ratio Rank: 7575
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IUES.L vs. GSPX.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IUES.L) and iShares Core S&P 500 UCITS ETF (GSPX.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.

IUES.LGSPX.LDifference
Sharpe ratioReturn per unit of total volatility
2.12
1.77

+0.35

Sortino ratioReturn per unit of downside risk
2.64
2.64

0.00

Omega ratioGain probability vs. loss probability

1.35

1.31

+0.05

Calmar ratioReturn relative to maximum drawdown

3.18

2.03

+1.15

Martin ratioReturn relative to average drawdown

9.97

8.11

+1.86

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IUES.L vs. GSPX.L - Sharpe Ratio Comparison

The current IUES.L Sharpe Ratio is 2.12, which is comparable to the GSPX.L Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of IUES.L and GSPX.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Sharpe Ratios by Period

IUES.LGSPX.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.12

1.77

+0.35

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.76

0.56

+0.20

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.32

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.31

0.64

-0.33

Drawdowns

IUES.L vs. GSPX.L - Drawdown Comparison

The maximum IUES.L drawdown since its inception was -66.78%, which is greater than GSPX.L's maximum drawdown of -42.17%. Use the drawdown chart below to compare losses from any high point for IUES.L and GSPX.L.

Loading charts...

Drawdown Indicators

IUES.LGSPX.LDifference

Max Drawdown

Largest peak-to-trough decline

-66.78%

-42.17%

-24.61%

Max Drawdown (1Y)

Largest decline over 1 year

-14.49%

-12.77%

-1.72%

Max Drawdown (3Y)

Largest decline over 3 years

-20.90%

-18.52%

-2.38%

Max Drawdown (5Y)

Largest decline over 5 years

-27.98%

-40.02%

+12.04%

Max Drawdown (10Y)

Largest decline over 10 years

-66.78%

—

—

Current Drawdown

Current decline from peak

-7.45%

-0.83%

-6.62%

Average Drawdown

Average peak-to-trough decline

-14.21%

-8.30%

-5.91%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.63%

3.20%

+1.43%

Volatility

IUES.L vs. GSPX.L - Volatility Comparison

iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IUES.L) has a higher volatility of 8.13% compared to iShares Core S&P 500 UCITS ETF (GSPX.L) at 3.81%. This indicates that IUES.L's price experiences larger fluctuations and is considered to be riskier than GSPX.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

IUES.LGSPX.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.13%

3.81%

+4.32%

Volatility (6M)

Calculated over the trailing 6-month period

18.58%

10.91%

+7.67%

Volatility (1Y)

Calculated over the trailing 1-year period

21.81%

14.65%

+7.16%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

26.72%

20.44%

+6.28%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

28.49%

21.85%

+6.64%

IUES.L vs. GSPX.L - Expense Ratio Comparison

IUES.L has a 0.15% expense ratio, which is higher than GSPX.L's 0.10% 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

IUES.L vs. GSPX.L - Dividend Comparison

IUES.L has not paid dividends to shareholders, while GSPX.L's dividend yield for the trailing twelve months is around 0.80%.

PositionTTM20252024202320222021202020192018
GSPX.L
iShares Core S&P 500 UCITS ETF		0.80%0.89%0.99%1.15%1.40%0.96%1.31%1.50%0.11%
IUES.L
iShares S&P 500 Energy Sector UCITS ETF USD (Acc)		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

IUES.L and GSPX.L have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, GSPX.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

GSPX.L is cheaper with a 0.10% expense ratio, compared with 0.15% for IUES.L.

IUES.L is categorized as Energy Equities, while GSPX.L is S&P 500. IUES.L tracks MSCI World/Energy NR USD, while GSPX.L tracks S&P 500 Index. Their fees differ too: 0.15% for IUES.L and 0.10% for GSPX.L.

Portfolio Optimizer

Find the right allocation for IUES.L and GSPX.L

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer