MSAU.L vs. SPXS.L
MSAU.L (Invesco MSCI Saudi Arabia ETF) and SPXS.L (Invesco S&P 500 UCITS ETF) are both Global Equities funds from Invesco - MSAU.L tracks the Invesco MSCI Saudi Arabia ETF while SPXS.L tracks the Invesco S&P 500 UCITS ETF. Both are passively managed. Over the past 5 years, MSAU.L returned 2.06%/yr vs -54.94%/yr for SPXS.L. At a 0.38 correlation, their price movements are largely independent. MSAU.L charges 0.50%/yr vs 0.05%/yr for SPXS.L.
Performance
MSAU.L vs. SPXS.L - Performance Comparison
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Returns By Period
In the year-to-date period, MSAU.L achieves a 4.13% return, which is significantly lower than SPXS.L's 10.20% return.
MSAU.L
- 1D
- 0.31%
- 1M
- -2.96%
- 6M
- -1.63%
- YTD
- 4.13%
- 1Y
- 3.11%
- 3Y*
- -0.44%
- 5Y*
- 2.06%
- 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%
MSAU.L vs. SPXS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
MSAU.L Invesco MSCI Saudi Arabia ETF | 4.13% | -5.73% | 0.20% | 10.06% | -5.65% | 36.12% | 0.47% | 6.13% | -3.40% |
SPXS.L Invesco S&P 500 UCITS ETF | 10.20% | -98.82% | 25.56% | 27.00% | -18.53% | 29.64% | 17.89% | 30.86% | -8.95% |
Correlation
The correlation between MSAU.L and SPXS.L is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Jun 13, 2018 | 0.38 |
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Return for Risk
MSAU.L vs. SPXS.L — Risk / Return Rank
MSAU.L
SPXS.L
MSAU.L vs. SPXS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI Saudi Arabia ETF (MSAU.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.
| MSAU.L | SPXS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.22 | ||
| Sortino ratioReturn per unit of downside risk | +1.23 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 0.52 | +0.53 |
| Calmar ratioReturn relative to maximum drawdown | 0.32 | -1.00 | +1.31 |
| Martin ratioReturn relative to average drawdown | 0.67 | -1.23 | +1.90 |
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Drawdowns
MSAU.L vs. SPXS.L - Drawdown Comparison
The maximum MSAU.L drawdown since its inception was -42.92%, smaller than the maximum SPXS.L drawdown of -99.07%. Use the drawdown chart below to compare losses from any high point for MSAU.L and SPXS.L.
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Drawdown Indicators
| MSAU.L | SPXS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.92% | -99.07% | +56.15% |
Max Drawdown (1Y)Largest decline over 1 year | -10.90% | -99.07% | +88.17% |
Max Drawdown (3Y)Largest decline over 3 years | -16.03% | -99.07% | +83.04% |
Max Drawdown (5Y)Largest decline over 5 years | -29.84% | -99.07% | +69.23% |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.07% | — |
Current DrawdownCurrent decline from peak | -18.51% | -98.90% | +80.39% |
Average DrawdownAverage peak-to-trough decline | -14.49% | -7.67% | -6.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.15% | 80.57% | -75.42% |
Volatility
MSAU.L vs. SPXS.L - Volatility Comparison
The current volatility for Invesco MSCI Saudi Arabia ETF (MSAU.L) is 2.49%, while Invesco S&P 500 UCITS ETF (SPXS.L) has a volatility of 2.73%. This indicates that MSAU.L experiences smaller price fluctuations and is considered to be less risky 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
| MSAU.L | SPXS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.49% | 2.73% | -0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 11.24% | 9.24% | +2.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.32% | 99.43% | -84.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.88% | 47.13% | -31.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.76% | 35.27% | -16.51% |
MSAU.L vs. SPXS.L - Expense Ratio Comparison
MSAU.L has a 0.50% expense ratio, which is higher than SPXS.L's 0.05% expense ratio.
Dividends
MSAU.L vs. SPXS.L - Dividend Comparison
Neither MSAU.L nor SPXS.L has paid dividends to shareholders.
Frequently Asked Questions
MSAU.L and SPXS.L have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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 0.50% for MSAU.L.
MSAU.L tracks Invesco MSCI Saudi Arabia ETF, while SPXS.L tracks Invesco S&P 500 UCITS ETF. Their fees differ too: 0.50% for MSAU.L and 0.05% for SPXS.L.
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