IWQU.L vs. SPXS.L
IWQU.L (iShares Edge MSCI World Quality Factor UCITS ETF USD (Acc)) and SPXS.L (Invesco S&P 500 UCITS ETF) are both Global Equities funds - IWQU.L tracks the MSCI World Sector Neutral Quality Index while SPXS.L tracks the Invesco S&P 500 UCITS ETF. Both are passively managed. Over the past 10 years, IWQU.L returned 12.43%/yr vs -27.39%/yr for SPXS.L. Their correlation of 0.94 suggests significant overlap in exposure. IWQU.L charges 0.25%/yr vs 0.05%/yr for SPXS.L.
Performance
IWQU.L vs. SPXS.L - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with IWQU.L having a 10.59% return and SPXS.L slightly lower at 10.20%. Over the past 10 years, IWQU.L has outperformed SPXS.L with an annualized return of 12.43%, while SPXS.L has yielded a comparatively lower -27.39% annualized return.
IWQU.L
- 1D
- 0.42%
- 1M
- 0.72%
- 6M
- 8.98%
- YTD
- 10.59%
- 1Y
- 21.00%
- 3Y*
- 16.94%
- 5Y*
- 10.15%
- 10Y*
- 12.43%
SPXS.L
- 1D
- -0.12%
- 1M
- -0.05%
- 6M
- 9.96%
- YTD
- 10.20%
- 1Y
- -98.78%
- 3Y*
- -74.11%
- 5Y*
- -54.94%
- 10Y*
- -27.39%
IWQU.L vs. SPXS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IWQU.L iShares Edge MSCI World Quality Factor UCITS ETF USD (Acc) | 10.59% | 15.28% | 17.17% | 25.90% | -19.26% | 23.70% | 14.95% | 29.64% | -7.53% | 23.57% |
SPXS.L Invesco S&P 500 UCITS ETF | 10.20% | -98.82% | 25.56% | 27.00% | -18.53% | 29.64% | 17.89% | 30.86% | -5.19% | 21.62% |
Correlation
The correlation between IWQU.L and SPXS.L is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Oct 6, 2014 | 0.94 |
The correlation between IWQU.L and SPXS.L has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.
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Return for Risk
IWQU.L vs. SPXS.L — Risk / Return Rank
IWQU.L
SPXS.L
IWQU.L vs. SPXS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI World Quality Factor UCITS ETF USD (Acc) (IWQU.L) and Invesco S&P 500 UCITS ETF (SPXS.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.
| IWQU.L | SPXS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.79 | ||
| Sortino ratioReturn per unit of downside risk | +3.56 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 0.52 | +0.81 |
| Calmar ratioReturn relative to maximum drawdown | 2.45 | -1.00 | +3.45 |
| Martin ratioReturn relative to average drawdown | 10.10 | -1.23 | +11.33 |
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Drawdowns
IWQU.L vs. SPXS.L - Drawdown Comparison
The maximum IWQU.L drawdown since its inception was -33.05%, smaller than the maximum SPXS.L drawdown of -99.07%. Use the drawdown chart below to compare losses from any high point for IWQU.L and SPXS.L.
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Drawdown Indicators
| IWQU.L | SPXS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.05% | -99.07% | +66.02% |
Max Drawdown (1Y)Largest decline over 1 year | -8.53% | -99.07% | +90.54% |
Max Drawdown (3Y)Largest decline over 3 years | -16.09% | -99.07% | +82.98% |
Max Drawdown (5Y)Largest decline over 5 years | -27.70% | -99.07% | +71.37% |
Max Drawdown (10Y)Largest decline over 10 years | -33.05% | -99.07% | +66.02% |
Current DrawdownCurrent decline from peak | 0.00% | -98.90% | +98.90% |
Average DrawdownAverage peak-to-trough decline | -4.56% | -7.67% | +3.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.07% | 80.57% | -78.50% |
Volatility
IWQU.L vs. SPXS.L - Volatility Comparison
iShares Edge MSCI World Quality Factor UCITS ETF USD (Acc) (IWQU.L) has a higher volatility of 2.94% compared to Invesco S&P 500 UCITS ETF (SPXS.L) at 2.73%. This indicates that IWQU.L's price experiences larger fluctuations and is considered to be riskier than SPXS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IWQU.L | SPXS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.94% | 2.73% | +0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 9.31% | 9.24% | +0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.62% | 99.43% | -87.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.62% | 47.13% | -31.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.63% | 35.27% | -19.64% |
IWQU.L vs. SPXS.L - Expense Ratio Comparison
IWQU.L has a 0.25% expense ratio, which is higher than SPXS.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%.
Dividends
IWQU.L vs. SPXS.L - Dividend Comparison
Neither IWQU.L nor SPXS.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.92, IWQU.L and SPXS.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.
On fees, SPXS.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPXS.L is cheaper with a 0.05% expense ratio, compared with 0.25% for IWQU.L.
IWQU.L tracks MSCI World Sector Neutral Quality Index, while SPXS.L tracks Invesco S&P 500 UCITS ETF. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.25% for IWQU.L and 0.05% for SPXS.L.
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