P500.DE vs. SPQB.DE
P500.DE (Invesco S&P 500 UCITS ETF) and SPQB.DE (Global X S&P 500 Quarterly Buffer UCITS ETF) are both S&P 500 funds - P500.DE tracks the S&P 500 Index while SPQB.DE tracks the Cboe S&P 500 15% WHT Quarterly 5% Buffer Protect. Both are passively managed. Over the past 3 years, P500.DE returned 19.07%/yr vs 9.37%/yr for SPQB.DE. A 0.77 correlation means they provide meaningful diversification when combined. P500.DE charges 0.05%/yr vs 0.50%/yr for SPQB.DE.
Performance
P500.DE vs. SPQB.DE - Performance Comparison
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Returns By Period
In the year-to-date period, P500.DE achieves a 11.47% return, which is significantly higher than SPQB.DE's 5.30% 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%
SPQB.DE
- 1D
- -0.13%
- 1M
- 1.74%
- YTD
- 5.30%
- 6M
- 5.20%
- 1Y
- 11.15%
- 3Y*
- 9.37%
- 5Y*
- —
- 10Y*
- —
P500.DE vs. SPQB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
P500.DE Invesco S&P 500 UCITS ETF | 11.47% | 4.88% | 32.56% | 16.59% |
SPQB.DE Global X S&P 500 Quarterly Buffer UCITS ETF | 5.30% | -0.77% | 20.64% | 10.42% |
Correlation
The correlation between P500.DE and SPQB.DE is 0.72, 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 | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2023 | 0.77 |
The correlation between P500.DE and SPQB.DE has been stable across timeframes, ranging from 0.72 to 0.77 - a consistent structural relationship.
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Return for Risk
P500.DE vs. SPQB.DE — Risk / Return Rank
P500.DE
SPQB.DE
P500.DE vs. SPQB.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 Global X S&P 500 Quarterly Buffer UCITS ETF (SPQB.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.
| P500.DE | SPQB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.75 | ||
| Sortino ratioReturn per unit of downside risk | +0.98 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.27 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 3.62 | 3.53 | +0.08 |
| Martin ratioReturn relative to average drawdown | 12.91 | 9.14 | +3.77 |
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 | SPQB.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.23 | 1.48 | +0.75 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.98 | — | — |
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 | 1.11 | -0.10 |
Drawdowns
P500.DE vs. SPQB.DE - Drawdown Comparison
The maximum P500.DE drawdown since its inception was -33.78%, which is greater than SPQB.DE's maximum drawdown of -16.15%. Use the drawdown chart below to compare losses from any high point for P500.DE and SPQB.DE.
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Drawdown Indicators
| P500.DE | SPQB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.78% | -16.15% | -17.63% |
Max Drawdown (1Y)Largest decline over 1 year | -7.11% | -3.10% | -4.01% |
Max Drawdown (3Y)Largest decline over 3 years | -23.34% | -16.15% | -7.19% |
Max Drawdown (5Y)Largest decline over 5 years | -23.34% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -33.78% | — | — |
Current DrawdownCurrent decline from peak | -0.40% | -0.13% | -0.27% |
Average DrawdownAverage peak-to-trough decline | -3.85% | -2.58% | -1.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.99% | 1.20% | +0.79% |
Volatility
P500.DE vs. SPQB.DE - Volatility Comparison
Invesco S&P 500 UCITS ETF (P500.DE) has a higher volatility of 2.65% compared to Global X S&P 500 Quarterly Buffer UCITS ETF (SPQB.DE) at 1.19%. This indicates that P500.DE's price experiences larger fluctuations and is considered to be riskier than SPQB.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 | SPQB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.65% | 1.19% | +1.46% |
Volatility (6M)Calculated over the trailing 6-month period | 7.59% | 4.25% | +3.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.52% | 7.42% | +4.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.17% | 9.54% | +5.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.07% | 9.54% | +6.53% |
P500.DE vs. SPQB.DE - Expense Ratio Comparison
P500.DE has a 0.05% expense ratio, which is lower than SPQB.DE's 0.50% expense ratio.
Dividends
P500.DE vs. SPQB.DE - Dividend Comparison
Neither P500.DE nor SPQB.DE has paid dividends to shareholders.
Frequently Asked Questions
P500.DE and SPQB.DE have a correlation of 0.72, 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 0.50% for SPQB.DE.
P500.DE tracks S&P 500 Index, while SPQB.DE tracks Cboe S&P 500 15% WHT Quarterly 5% Buffer Protect. They also come from different issuers: Invesco and Global X. Their fees differ too: 0.05% for P500.DE and 0.50% for SPQB.DE.
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