P500.DE vs. SPEX.L
P500.DE (Invesco S&P 500 UCITS ETF) and SPEX.L (Invesco S&P 500 Equal Weight UCITS ETF Acc) are both S&P 500 funds from Invesco - P500.DE tracks the S&P 500 Index while SPEX.L tracks the S&P 500 Equal Weight Index. Both are passively managed. Over the past 5 years, P500.DE returned 14.99%/yr vs 9.27%/yr for SPEX.L. A 0.78 correlation means they provide meaningful diversification when combined. P500.DE charges 0.05%/yr vs 0.20%/yr for SPEX.L.
Performance
P500.DE vs. SPEX.L - Performance Comparison
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Different Trading Currencies
P500.DE is traded in EUR, while SPEX.L is traded in GBp. To make them comparable, the SPEX.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, P500.DE achieves a 11.47% return, which is significantly higher than SPEX.L's 10.62% return.
P500.DE
- 1D
- -0.10%
- 1M
- 4.39%
- YTD
- 11.47%
- 6M
- 10.93%
- 1Y
- 25.73%
- 3Y*
- 19.07%
- 5Y*
- 14.99%
- 10Y*
- 15.16%
SPEX.L
- 1D
- 0.40%
- 1M
- 4.06%
- YTD
- 10.62%
- 6M
- 10.36%
- 1Y
- 18.37%
- 3Y*
- 12.09%
- 5Y*
- 9.27%
- 10Y*
- —
P500.DE vs. SPEX.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
P500.DE Invesco S&P 500 UCITS ETF | 11.47% | 4.88% | 32.56% | 22.69% | -14.05% | 24.40% |
SPEX.L Invesco S&P 500 Equal Weight UCITS ETF Acc | 10.62% | -1.52% | 19.59% | 9.92% | -6.27% | 32.27% |
Correlation
The correlation between P500.DE and SPEX.L is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Apr 9, 2021 | 0.78 |
The correlation between P500.DE and SPEX.L shifts across timeframes, from 0.67 (1 year) to 0.78 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
P500.DE vs. SPEX.L — Risk / Return Rank
P500.DE
SPEX.L
P500.DE vs. SPEX.L - 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 S&P 500 Equal Weight UCITS ETF Acc (SPEX.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.
| P500.DE | SPEX.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.51 | ||
| Sortino ratioReturn per unit of downside risk | +0.60 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.30 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 3.62 | 3.33 | +0.28 |
| Martin ratioReturn relative to average drawdown | 12.91 | 10.07 | +2.84 |
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
| P500.DE | SPEX.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.23 | 1.72 | +0.51 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.98 | 0.62 | +0.35 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.94 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.01 | 0.77 | +0.25 |
Drawdowns
P500.DE vs. SPEX.L - Drawdown Comparison
The maximum P500.DE drawdown since its inception was -33.78%, which is greater than SPEX.L's maximum drawdown of -21.47%. Use the drawdown chart below to compare losses from any high point for P500.DE and SPEX.L.
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Drawdown Indicators
| P500.DE | SPEX.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.78% | -21.47% | -12.31% |
Max Drawdown (1Y)Largest decline over 1 year | -7.11% | -5.34% | -1.77% |
Max Drawdown (3Y)Largest decline over 3 years | -23.34% | -21.47% | -1.87% |
Max Drawdown (5Y)Largest decline over 5 years | -23.34% | -21.47% | -1.87% |
Max Drawdown (10Y)Largest decline over 10 years | -33.78% | — | — |
Current DrawdownCurrent decline from peak | -0.40% | 0.00% | -0.40% |
Average DrawdownAverage peak-to-trough decline | -3.85% | -5.24% | +1.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.99% | 1.77% | +0.22% |
Volatility
P500.DE vs. SPEX.L - Volatility Comparison
Invesco S&P 500 UCITS ETF (P500.DE) has a higher volatility of 2.65% compared to Invesco S&P 500 Equal Weight UCITS ETF Acc (SPEX.L) at 1.71%. This indicates that P500.DE's price experiences larger fluctuations and is considered to be riskier than SPEX.L 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 | SPEX.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.65% | 1.71% | +0.94% |
Volatility (6M)Calculated over the trailing 6-month period | 7.59% | 6.76% | +0.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.52% | 10.33% | +1.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.17% | 14.84% | +0.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.07% | 15.38% | +0.69% |
P500.DE vs. SPEX.L - Expense Ratio Comparison
P500.DE has a 0.05% expense ratio, which is lower than SPEX.L's 0.20% 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. SPEX.L - Dividend Comparison
Neither P500.DE nor SPEX.L has paid dividends to shareholders.
Frequently Asked Questions
P500.DE and SPEX.L have a correlation of 0.67, 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 0.20% for SPEX.L.
P500.DE tracks S&P 500 Index, while SPEX.L tracks S&P 500 Equal Weight Index. Their fees differ too: 0.05% for P500.DE and 0.20% for SPEX.L.
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