JPCT.L vs. SPXS.L

Last updated Jul 16, 2026

JPCT.L (JPM Carbon Transition Global Equity (CTB) UCITS ETF - USD (acc)) and SPXS.L (Invesco S&P 500 UCITS ETF) are both Global Equities funds - JPCT.L tracks the JPM Carbon Transition Global Equity (CTB) UCITS ETF - USD (acc) while SPXS.L tracks the Invesco S&P 500 UCITS ETF. Both are passively managed. Over the past 5 years, JPCT.L returned 10.27%/yr vs -54.94%/yr for SPXS.L. Their correlation of 0.94 suggests significant overlap in exposure. JPCT.L charges 0.19%/yr vs 0.05%/yr for SPXS.L.

Performance

JPCT.L vs. SPXS.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPM Carbon Transition Global Equity (CTB) UCITS ETF - USD (acc) (JPCT.L) and Invesco S&P 500 UCITS ETF (SPXS.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JPCT.L achieves a 7.02% return, which is significantly lower than SPXS.L's 10.20% return.

JPCT.L

• 1D: 0.13%
• 1M: 0.13%
• 6M: 6.06%
• YTD: 7.02%
• 1Y: 17.84%
• 3Y*: 16.69%
• 5Y*: 10.27%
• 10Y*: —

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%

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

JPCT.L vs. SPXS.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
JPCT.L JPM Carbon Transition Global Equity (CTB) UCITS ETF - USD (acc)	7.02%	19.79%	17.53%	23.63%	-18.49%	23.68%	10.79%
SPXS.L Invesco S&P 500 UCITS ETF	10.20%	-98.82%	25.56%	27.00%	-18.53%	29.64%	10.57%

Correlation

The correlation between JPCT.L and SPXS.L is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (All Time) Calculated using the full available price history since Nov 4, 2020	0.94

The correlation between JPCT.L and SPXS.L has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

Return for Risk

JPCT.L vs. SPXS.L — Risk / Return Rank

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

JPCT.L

JPCT.L Risk / Return Rank: 47
JPCT.L Sharpe Ratio Rank: 47
JPCT.L Sortino Ratio Rank: 52
JPCT.L Omega Ratio Rank: 46
JPCT.L Calmar Ratio Rank: 41
JPCT.L Martin Ratio Rank: 53

SPXS.L

SPXS.L Risk / Return Rank: 2
SPXS.L Sharpe Ratio Rank: 2
SPXS.L Sortino Ratio Rank: 4
SPXS.L Omega Ratio Rank: 0
SPXS.L Calmar Ratio Rank: 0
SPXS.L Martin Ratio Rank: 3

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.

JPCT.L vs. SPXS.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPM Carbon Transition Global Equity (CTB) UCITS ETF - USD (acc) (JPCT.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.

	JPCT.L	SPXS.L	Difference
Sharpe ratio: Return per unit of total volatility	1.34	-0.99	+2.34
Sortino ratio: Return per unit of downside risk	2.09	-0.78	+2.86
Omega ratio: Gain probability vs. loss probability	1.24	0.52	+0.72
Calmar ratio: Return relative to maximum drawdown	1.71	-1.00	+2.71
Martin ratio: Return relative to average drawdown	7.26	-1.23	+8.49

JPCT.L vs. SPXS.L - Sharpe Ratio Comparison

The current JPCT.L Sharpe Ratio is 1.34, which is higher than the SPXS.L Sharpe Ratio of -0.99. The chart below compares the historical Sharpe Ratios of JPCT.L and SPXS.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

JPCT.L vs. SPXS.L - Drawdown Comparison

The maximum JPCT.L drawdown since its inception was -26.59%, smaller than the maximum SPXS.L drawdown of -99.07%. Use the drawdown chart below to compare losses from any high point for JPCT.L and SPXS.L.

Drawdown Indicators

	JPCT.L	SPXS.L	Difference
Max Drawdown Largest peak-to-trough decline	-26.59%	-99.07%	+72.48%
Max Drawdown (1Y) Largest decline over 1 year	-10.25%	-99.07%	+88.82%
Max Drawdown (3Y) Largest decline over 3 years	-17.82%	-99.07%	+81.25%
Max Drawdown (5Y) Largest decline over 5 years	-26.59%	-99.07%	+72.48%
Max Drawdown (10Y) Largest decline over 10 years	—	-99.07%	—
Current Drawdown Current decline from peak	-0.02%	-98.90%	+98.88%
Average Drawdown Average peak-to-trough decline	-5.34%	-7.67%	+2.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.43%	80.57%	-78.14%

Volatility

JPCT.L vs. SPXS.L - Volatility Comparison

JPM Carbon Transition Global Equity (CTB) UCITS ETF - USD (acc) (JPCT.L) has a higher volatility of 3.11% compared to Invesco S&P 500 UCITS ETF (SPXS.L) at 2.73%. This indicates that JPCT.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.

Volatility by Period

	JPCT.L	SPXS.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.11%	2.73%	+0.38%
Volatility (6M) Calculated over the trailing 6-month period	10.69%	9.24%	+1.45%
Volatility (1Y) Calculated over the trailing 1-year period	13.10%	99.43%	-86.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.71%	47.13%	-31.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.34%	35.27%	-19.93%

JPCT.L vs. SPXS.L - Expense Ratio Comparison

JPCT.L has a 0.19% 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

JPCT.L vs. SPXS.L - Dividend Comparison

Neither JPCT.L nor SPXS.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both JPCT.L and SPXS.L in my portfolio?

With a correlation of 0.94, JPCT.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.

Which ETF is better, JPCT.L or SPXS.L?

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.

Which ETF is cheaper, JPCT.L or SPXS.L?

SPXS.L is cheaper with a 0.05% expense ratio, compared with 0.19% for JPCT.L.

What is the main difference between JPCT.L and SPXS.L?

JPCT.L tracks JPM Carbon Transition Global Equity (CTB) UCITS ETF - USD (acc), while SPXS.L tracks Invesco S&P 500 UCITS ETF. They also come from different issuers: ETF Issuer and Invesco. Their fees differ too: 0.19% for JPCT.L and 0.05% for SPXS.L.