P500.DE vs. PJEU.DE
P500.DE (Invesco S&P 500 UCITS ETF) and PJEU.DE (Invesco Euro Cash 3 Months UCITS ETF Acc) are both exchange-traded funds - P500.DE is a S&P 500 fund tracking the S&P 500 Index, while PJEU.DE is a Money Market fund tracking the FTSE Eurozone Government Bill 0-6 Month Capped Index. Both are passively managed. Over the past 10 years, P500.DE returned 15.07%/yr vs 0.56%/yr for PJEU.DE. At a 0.03 correlation, their price movements are largely independent. P500.DE charges 0.05%/yr vs 0.09%/yr for PJEU.DE.
Performance
P500.DE vs. PJEU.DE - Performance Comparison
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Returns By Period
In the year-to-date period, P500.DE achieves a 12.30% return, which is significantly higher than PJEU.DE's 0.88% return. Over the past 10 years, P500.DE has outperformed PJEU.DE with an annualized return of 15.07%, while PJEU.DE has yielded a comparatively lower 0.56% annualized return.
P500.DE
- 1D
- 0.23%
- 1M
- 0.61%
- 6M
- 13.07%
- YTD
- 12.30%
- 1Y
- 24.17%
- 3Y*
- 18.56%
- 5Y*
- 13.90%
- 10Y*
- 15.07%
PJEU.DE
- 1D
- -0.01%
- 1M
- 0.14%
- 6M
- 0.79%
- YTD
- 0.88%
- 1Y
- 1.99%
- 3Y*
- 2.87%
- 5Y*
- 1.77%
- 10Y*
- 0.56%
P500.DE vs. PJEU.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
P500.DE Invesco S&P 500 UCITS ETF | 12.30% | 4.83% | 32.66% | 22.56% | -14.02% | 41.17% | 6.99% | 34.95% | -1.01% | 6.74% |
PJEU.DE Invesco Euro Cash 3 Months UCITS ETF Acc | 0.88% | 2.33% | 3.61% | 2.91% | -0.44% | -0.76% | -0.60% | -0.48% | -0.71% | -0.79% |
Correlation
The correlation between P500.DE and PJEU.DE is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Nov 16, 2011 | 0.03 |
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Return for Risk
P500.DE vs. PJEU.DE — Risk / Return Rank
P500.DE
PJEU.DE
P500.DE vs. PJEU.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 UCITS ETF (P500.DE) and Invesco Euro Cash 3 Months UCITS ETF Acc (PJEU.DE). 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.
| P500.DE | PJEU.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.95 | ||
| Sortino ratioReturn per unit of downside risk | +1.23 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.28 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.39 | 3.70 | -0.31 |
| Martin ratioReturn relative to average drawdown | 12.01 | 10.42 | +1.59 |
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Drawdowns
P500.DE vs. PJEU.DE - Drawdown Comparison
The maximum P500.DE drawdown since its inception was -33.85%, which is greater than PJEU.DE's maximum drawdown of -4.67%. Use the drawdown chart below to compare losses from any high point for P500.DE and PJEU.DE.
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Drawdown Indicators
| P500.DE | PJEU.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.85% | -4.67% | -29.18% |
Max Drawdown (1Y)Largest decline over 1 year | -7.10% | -0.54% | -6.56% |
Max Drawdown (3Y)Largest decline over 3 years | -23.39% | -0.54% | -22.85% |
Max Drawdown (5Y)Largest decline over 5 years | -23.39% | -1.04% | -22.35% |
Max Drawdown (10Y)Largest decline over 10 years | -33.85% | -4.17% | -29.68% |
Current DrawdownCurrent decline from peak | -0.60% | -0.08% | -0.52% |
Average DrawdownAverage peak-to-trough decline | -3.84% | -1.21% | -2.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.01% | 0.19% | +1.82% |
Volatility
P500.DE vs. PJEU.DE - Volatility Comparison
Invesco S&P 500 UCITS ETF (P500.DE) has a higher volatility of 3.66% compared to Invesco Euro Cash 3 Months UCITS ETF Acc (PJEU.DE) at 0.24%. This indicates that P500.DE's price experiences larger fluctuations and is considered to be riskier than PJEU.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| P500.DE | PJEU.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.66% | 0.24% | +3.42% |
Volatility (6M)Calculated over the trailing 6-month period | 8.08% | 1.43% | +6.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.00% | 1.86% | +10.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.22% | 0.88% | +14.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.07% | 0.67% | +15.40% |
P500.DE vs. PJEU.DE - Expense Ratio Comparison
P500.DE has a 0.05% expense ratio, which is lower than PJEU.DE's 0.09% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
P500.DE vs. PJEU.DE - Dividend Comparison
Neither P500.DE nor PJEU.DE has paid dividends to shareholders.
Frequently Asked Questions
P500.DE and PJEU.DE have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, P500.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
P500.DE is cheaper with a 0.05% expense ratio, compared with 0.09% for PJEU.DE.
P500.DE is categorized as S&P 500, while PJEU.DE is Money Market. P500.DE tracks S&P 500 Index, while PJEU.DE tracks FTSE Eurozone Government Bill 0-6 Month Capped Index. Their fees differ too: 0.05% for P500.DE and 0.09% for PJEU.DE.
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