IUSA.L vs. SPEP.L

Last updated Jun 27, 2026

IUSA.L (iShares S&P 500 UCITS Dist) and SPEP.L (Invesco S&P 500 Scored & Screened ETF Acc) are both S&P 500 funds - IUSA.L tracks the S&P 500 Index while SPEP.L tracks the S&P 500 ESG Index. Both are passively managed. Over the past 5 years, IUSA.L returned 13.98%/yr vs 15.12%/yr for SPEP.L. With a 0.98 correlation, they move nearly in lockstep. IUSA.L charges 0.07%/yr vs 0.09%/yr for SPEP.L.

Performance

IUSA.L vs. SPEP.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares S&P 500 UCITS Dist (IUSA.L) and Invesco S&P 500 Scored & Screened ETF Acc (SPEP.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IUSA.L achieves a 9.52% return, which is significantly lower than SPEP.L's 10.70% return.

IUSA.L

• 1D: -0.04%
• 1M: -0.21%
• YTD: 9.52%
• 6M: 9.66%
• 1Y: 26.30%
• 3Y*: 19.06%
• 5Y*: 13.98%
• 10Y*: 15.48%

SPEP.L

• 1D: 0.04%
• 1M: 1.60%
• YTD: 10.70%
• 6M: 11.09%
• 1Y: 30.83%
• 3Y*: 19.49%
• 5Y*: 15.12%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

IUSA.L vs. SPEP.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
IUSA.L iShares S&P 500 UCITS Dist	9.52%	9.32%	27.33%	19.83%	-9.00%	30.97%	29.14%
SPEP.L Invesco S&P 500 Scored & Screened ETF Acc	10.70%	9.94%	26.61%	21.47%	-8.35%	34.02%	21.63%

Correlation

The correlation between IUSA.L and SPEP.L is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (All Time) Calculated using the full available price history since Mar 10, 2020	0.98

The correlation between IUSA.L and SPEP.L has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.

IUSA.L vs. SPEP.L - Sectors Allocation Comparison

Sectors	IUSA.L	SPEP.L
Technology	39.1%	38.0%
Financial Services	11.5%	12.3%
Communication Services	10.2%	12.6%
Consumer Cyclical	9.5%	5.0%
Healthcare	8.3%	10.6%
Industrials	8.2%	8.2%
Consumer Defensive	4.6%	5.1%
Energy	3.0%	2.7%
Utilities	2.2%	1.4%
Real Estate	1.8%	2.2%
Basic Materials	1.7%	2.0%

Return for Risk

IUSA.L vs. SPEP.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IUSA.L

IUSA.L Risk / Return Rank: 82
IUSA.L Sharpe Ratio Rank: 85
IUSA.L Sortino Ratio Rank: 84
IUSA.L Omega Ratio Rank: 84
IUSA.L Calmar Ratio Rank: 80
IUSA.L Martin Ratio Rank: 79

SPEP.L

SPEP.L Risk / Return Rank: 91
SPEP.L Sharpe Ratio Rank: 93
SPEP.L Sortino Ratio Rank: 92
SPEP.L Omega Ratio Rank: 92
SPEP.L Calmar Ratio Rank: 88
SPEP.L Martin Ratio Rank: 89

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.

IUSA.L vs. SPEP.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 UCITS Dist (IUSA.L) and Invesco S&P 500 Scored & Screened ETF Acc (SPEP.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.

	IUSA.L	SPEP.L	Difference
Sharpe ratio: Return per unit of total volatility	2.41	2.82	-0.41
Sortino ratio: Return per unit of downside risk	3.26	3.88	-0.61
Omega ratio: Gain probability vs. loss probability	1.44	1.52	-0.08
Calmar ratio: Return relative to maximum drawdown	3.68	4.43	-0.75
Martin ratio: Return relative to average drawdown	13.32	17.07	-3.75

IUSA.L vs. SPEP.L - Sharpe Ratio Comparison

The current IUSA.L Sharpe Ratio is 2.41, which is comparable to the SPEP.L Sharpe Ratio of 2.82. The chart below compares the historical Sharpe Ratios of IUSA.L and SPEP.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.

Drawdowns

IUSA.L vs. SPEP.L - Drawdown Comparison

The maximum IUSA.L drawdown since its inception was -36.17%, which is greater than SPEP.L's maximum drawdown of -21.07%. Use the drawdown chart below to compare losses from any high point for IUSA.L and SPEP.L.

Drawdown Indicators

	IUSA.L	SPEP.L	Difference
Max Drawdown Largest peak-to-trough decline	-36.17%	-21.07%	-15.10%
Max Drawdown (1Y) Largest decline over 1 year	-7.11%	-6.93%	-0.18%
Max Drawdown (3Y) Largest decline over 3 years	-21.14%	-21.07%	-0.07%
Max Drawdown (5Y) Largest decline over 5 years	-21.14%	-21.07%	-0.07%
Max Drawdown (10Y) Largest decline over 10 years	-25.52%	—	—
Current Drawdown Current decline from peak	-1.55%	-0.92%	-0.63%
Average Drawdown Average peak-to-trough decline	-4.82%	-4.48%	-0.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.97%	1.80%	+0.17%

Volatility

IUSA.L vs. SPEP.L - Volatility Comparison

iShares S&P 500 UCITS Dist (IUSA.L) and Invesco S&P 500 Scored & Screened ETF Acc (SPEP.L) have volatilities of 3.51% and 3.54%, 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.

Volatility by Period

	IUSA.L	SPEP.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.51%	3.54%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	7.72%	7.60%	+0.12%
Volatility (1Y) Calculated over the trailing 1-year period	10.87%	10.90%	-0.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.39%	20.10%	-5.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.52%	20.79%	-5.27%

IUSA.L vs. SPEP.L - Expense Ratio Comparison

IUSA.L has a 0.07% expense ratio, which is lower than SPEP.L's 0.09% 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

IUSA.L vs. SPEP.L - Dividend Comparison

IUSA.L's dividend yield for the trailing twelve months is around 0.87%, while SPEP.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IUSA.L iShares S&P 500 UCITS Dist	0.87%	0.93%	1.00%	1.24%	1.42%	1.01%	1.40%	1.53%	1.68%	1.50%	1.30%	1.50%
SPEP.L Invesco S&P 500 Scored & Screened ETF Acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IUSA.L and SPEP.L in my portfolio?

With a correlation of 0.96, IUSA.L and SPEP.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, IUSA.L or SPEP.L?

On fees, IUSA.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IUSA.L or SPEP.L?

IUSA.L is cheaper with a 0.07% expense ratio, compared with 0.09% for SPEP.L.

What is the main difference between IUSA.L and SPEP.L?

IUSA.L tracks S&P 500 Index, while SPEP.L tracks S&P 500 ESG Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.07% for IUSA.L and 0.09% for SPEP.L.