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IUSE.L vs. SPXD.L
Performance
Return for Risk
Dividends
Drawdowns
Volatility

IUSE.L vs. SPXD.L

Last updated Apr 2, 2026

Compare and contrast key facts about iShares S&P 500 EUR Hedged UCITS ETF Acc (IUSE.L) and Invesco S&P 500 UCITS ETF Dist (SPXD.L).

IUSE.L and SPXD.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IUSE.L is a passively managed fund by iShares that tracks the performance of the S&P 500 EUR Hedged Index. It was launched on Sep 30, 2010. SPXD.L is a passively managed fund by Invesco that tracks the performance of the S&P 500 Index. It was launched on Oct 26, 2015. Both IUSE.L and SPXD.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

IUSE.L vs. SPXD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares S&P 500 EUR Hedged UCITS ETF Acc (IUSE.L) and Invesco S&P 500 UCITS ETF Dist (SPXD.L). The values are adjusted to include any dividend payments, if applicable.

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IUSE.L vs. SPXD.L - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
IUSE.L
iShares S&P 500 EUR Hedged UCITS ETF Acc		-4.73%14.95%23.20%23.05%-21.17%27.85%14.81%11.02%
SPXD.L
Invesco S&P 500 UCITS ETF Dist		-2.66%3.59%33.86%23.11%-13.45%39.36%8.18%14.58%
Different Trading Currencies

IUSE.L is traded in EUR, while SPXD.L is traded in USD. To make them comparable, the SPXD.L values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, IUSE.L achieves a -4.73% return, which is significantly lower than SPXD.L's -2.66% return.

IUSE.L

1D
2.44%
1M
-3.97%
YTD
-4.73%
6M
-2.12%
1Y
15.45%
3Y*
16.09%
5Y*
9.26%
10Y*
11.23%

SPXD.L

1D
2.32%
1M
-2.68%
YTD
-2.66%
6M
0.43%
1Y
10.44%
3Y*
16.30%
5Y*
12.39%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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 EUR Hedged UCITS ETF Acc

Invesco S&P 500 UCITS ETF Dist

Often compared with IUSE.L:
IUSE.L vs. IBCK.DEIUSE.L vs. CEMS.DEIUSE.L vs. IBCF.DEIUSE.L vs. SPYIUSE.L vs. SNAW.DEIUSE.L vs. EXS1.DEIUSE.L vs. VTI
Often compared with SPXD.L:
SPXD.L vs. CSPX.LSPXD.L vs. SPXP.LSPXD.L vs. FBCVXSPXD.L vs. SPYSPXD.L vs. D5BM.DESPXD.L vs. SPPY.DESPXD.L vs. VOO

IUSE.L vs. SPXD.L - Expense Ratio Comparison

IUSE.L has a 0.20% expense ratio, which is higher than SPXD.L's 0.05% 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%.

IUSE.L
iShares S&P 500 EUR Hedged UCITS ETF Acc
SPXD.L
Invesco S&P 500 UCITS ETF Dist

Return for Risk

IUSE.L vs. SPXD.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IUSE.L
IUSE.L Risk / Return Rank: 5656
Overall Rank
IUSE.L Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
IUSE.L Sortino Ratio Rank: 5151
Sortino Ratio Rank
IUSE.L Omega Ratio Rank: 5252
Omega Ratio Rank
IUSE.L Calmar Ratio Rank: 6161
Calmar Ratio Rank
IUSE.L Martin Ratio Rank: 6363
Martin Ratio Rank
SPXD.L
SPXD.L Risk / Return Rank: 6868
Overall Rank
SPXD.L Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
SPXD.L Sortino Ratio Rank: 6464
Sortino Ratio Rank
SPXD.L Omega Ratio Rank: 6363
Omega Ratio Rank
SPXD.L Calmar Ratio Rank: 7575
Calmar Ratio Rank
SPXD.L Martin Ratio Rank: 7676
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.

IUSE.L vs. SPXD.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 EUR Hedged UCITS ETF Acc (IUSE.L) and Invesco S&P 500 UCITS ETF Dist (SPXD.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.

IUSE.LSPXD.LDifference

Sharpe ratio

Return per unit of total volatility

0.97

0.62

+0.36

Sortino ratio

Return per unit of downside risk

1.44

0.93

+0.51

Omega ratio

Gain probability vs. loss probability

1.21

1.14

+0.07

Calmar ratio

Return relative to maximum drawdown

1.72

1.39

+0.33

Martin ratio

Return relative to average drawdown

6.99

4.33

+2.66

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

IUSE.L vs. SPXD.L - Sharpe Ratio Comparison

The current IUSE.L Sharpe Ratio is 0.97, which is higher than the SPXD.L Sharpe Ratio of 0.62. The chart below compares the historical Sharpe Ratios of IUSE.L and SPXD.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

IUSE.LSPXD.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.97

0.62

+0.36

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.58

0.78

-0.20

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.69

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.73

0.80

-0.06

Correlation

The correlation between IUSE.L and SPXD.L is 0.86, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

IUSE.L vs. SPXD.L - Dividend Comparison

IUSE.L has not paid dividends to shareholders, while SPXD.L's dividend yield for the trailing twelve months is around 1.25%.

TTM20252024202320222021202020192018
IUSE.L
iShares S&P 500 EUR Hedged UCITS ETF Acc		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
SPXD.L
Invesco S&P 500 UCITS ETF Dist		1.25%1.16%1.31%1.51%1.68%1.30%1.55%1.87%0.00%

Drawdowns

IUSE.L vs. SPXD.L - Drawdown Comparison

The maximum IUSE.L drawdown since its inception was -34.75%, roughly equal to the maximum SPXD.L drawdown of -33.48%. Use the drawdown chart below to compare losses from any high point for IUSE.L and SPXD.L.

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Drawdown Indicators

IUSE.LSPXD.LDifference

Max Drawdown

Largest peak-to-trough decline

-34.75%

-33.98%

-0.77%

Max Drawdown (1Y)

Largest decline over 1 year

-11.60%

-11.69%

+0.09%

Max Drawdown (5Y)

Largest decline over 5 years

-26.23%

-24.17%

-2.06%

Max Drawdown (10Y)

Largest decline over 10 years

-34.75%

—

—

Current Drawdown

Current decline from peak

-5.90%

-5.49%

-0.41%

Average Drawdown

Average peak-to-trough decline

-4.35%

-5.17%

+0.82%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.13%

2.05%

+0.08%

Volatility

IUSE.L vs. SPXD.L - Volatility Comparison

iShares S&P 500 EUR Hedged UCITS ETF Acc (IUSE.L) has a higher volatility of 4.90% compared to Invesco S&P 500 UCITS ETF Dist (SPXD.L) at 4.61%. This indicates that IUSE.L's price experiences larger fluctuations and is considered to be riskier than SPXD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IUSE.LSPXD.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.90%

4.61%

+0.29%

Volatility (6M)

Calculated over the trailing 6-month period

8.72%

9.07%

-0.35%

Volatility (1Y)

Calculated over the trailing 1-year period

15.87%

16.91%

-1.04%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.98%

15.83%

+0.15%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.29%

17.90%

-1.61%