MXWS.L vs. SPXS.MI
MXWS.L (Invesco MSCI World UCITS ETF) and SPXS.MI (Invesco S&P 500 UCITS ETF) are both exchange-traded funds - MXWS.L is a Global Equities fund tracking the MSCI ACWI NR USD, while SPXS.MI is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, MXWS.L returned 14.18%/yr vs 16.29%/yr for SPXS.MI. A 0.78 correlation means they provide meaningful diversification when combined. MXWS.L charges 0.19%/yr vs 0.05%/yr for SPXS.MI.
Performance
MXWS.L vs. SPXS.MI - Performance Comparison
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Different Trading Currencies
MXWS.L is traded in GBp, while SPXS.MI is traded in EUR. To make them comparable, the SPXS.MI values have been converted to GBp using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with MXWS.L having a 10.17% return and SPXS.MI slightly higher at 10.54%. Over the past 10 years, MXWS.L has underperformed SPXS.MI with an annualized return of 14.18%, while SPXS.MI has yielded a comparatively higher 16.29% annualized return.
MXWS.L
- 1D
- 0.04%
- 1M
- 5.20%
- YTD
- 10.17%
- 6M
- 10.37%
- 1Y
- 27.42%
- 3Y*
- 17.75%
- 5Y*
- 13.12%
- 10Y*
- 14.18%
SPXS.MI
- 1D
- 0.02%
- 1M
- 5.51%
- YTD
- 10.54%
- 6M
- 10.47%
- 1Y
- 29.26%
- 3Y*
- 19.27%
- 5Y*
- 15.14%
- 10Y*
- 16.29%
MXWS.L vs. SPXS.MI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MXWS.L Invesco MSCI World UCITS ETF | 10.17% | 12.63% | 21.11% | 17.73% | -8.30% | 23.66% | 12.37% | 23.46% | -3.87% | 11.80% |
SPXS.MI Invesco S&P 500 UCITS ETF | 10.54% | 9.95% | 28.02% | 20.07% | -9.81% | 31.25% | 13.84% | 27.76% | 0.44% | 10.14% |
Correlation
The correlation between MXWS.L and SPXS.MI is 0.91, 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 | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since May 28, 2015 | 0.78 |
The correlation between MXWS.L and SPXS.MI shifts across timeframes, from 0.78 (all time) to 0.91 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
MXWS.L vs. SPXS.MI — Risk / Return Rank
MXWS.L
SPXS.MI
MXWS.L vs. SPXS.MI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI World UCITS ETF (MXWS.L) and Invesco S&P 500 UCITS ETF (SPXS.MI). 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.
| MXWS.L | SPXS.MI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.49 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 4.17 | 4.20 | -0.03 |
| Martin ratioReturn relative to average drawdown | 16.68 | 15.05 | +1.62 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MXWS.L | SPXS.MI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.69 | 2.66 | +0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.98 | 1.02 | -0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.07 | 1.05 | +0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.00 | 1.06 | -0.07 |
Drawdowns
MXWS.L vs. SPXS.MI - Drawdown Comparison
The maximum MXWS.L drawdown since its inception was -24.29%, smaller than the maximum SPXS.MI drawdown of -26.14%. Use the drawdown chart below to compare losses from any high point for MXWS.L and SPXS.MI.
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Drawdown Indicators
| MXWS.L | SPXS.MI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.29% | -26.14% | +1.85% |
Max Drawdown (1Y)Largest decline over 1 year | -6.55% | -6.97% | +0.42% |
Max Drawdown (3Y)Largest decline over 3 years | -19.29% | -21.75% | +2.46% |
Max Drawdown (5Y)Largest decline over 5 years | -19.29% | -21.75% | +2.46% |
Max Drawdown (10Y)Largest decline over 10 years | -24.29% | -26.14% | +1.85% |
Current DrawdownCurrent decline from peak | -0.13% | -0.20% | +0.07% |
Average DrawdownAverage peak-to-trough decline | -3.25% | -3.44% | +0.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.64% | 1.94% | -0.30% |
Volatility
MXWS.L vs. SPXS.MI - Volatility Comparison
The current volatility for Invesco MSCI World UCITS ETF (MXWS.L) is 2.51%, while Invesco S&P 500 UCITS ETF (SPXS.MI) has a volatility of 3.06%. This indicates that MXWS.L experiences smaller price fluctuations and is considered to be less risky than SPXS.MI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MXWS.L | SPXS.MI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.51% | 3.06% | -0.55% |
Volatility (6M)Calculated over the trailing 6-month period | 7.41% | 7.42% | -0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.16% | 11.01% | -0.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.33% | 14.68% | -1.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.45% | 16.21% | -0.76% |
MXWS.L vs. SPXS.MI - Expense Ratio Comparison
MXWS.L has a 0.19% expense ratio, which is higher than SPXS.MI'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
MXWS.L vs. SPXS.MI - Dividend Comparison
Neither MXWS.L nor SPXS.MI has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.91, MXWS.L and SPXS.MI 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.MI is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPXS.MI is cheaper with a 0.05% expense ratio, compared with 0.19% for MXWS.L.
MXWS.L is categorized as Global Equities, while SPXS.MI is S&P 500. MXWS.L tracks MSCI ACWI NR USD, while SPXS.MI tracks S&P 500 Index. Their fees differ too: 0.19% for MXWS.L and 0.05% for SPXS.MI.
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