P500.DE vs. XAAG.DE
P500.DE (Invesco S&P 500 UCITS ETF) and XAAG.DE (Invesco Bloomberg Commodity ex-Agriculture UCITS ETF Acc) are both exchange-traded funds - P500.DE is a S&P 500 fund tracking the S&P 500 Index, while XAAG.DE is a Commodities fund tracking the Bloomberg Commodity ex-Agriculture and Livestock. Both are passively managed. Over the past 5 years, P500.DE returned 14.99%/yr vs 14.95%/yr for XAAG.DE. At a 0.25 correlation, their price movements are largely independent. P500.DE charges 0.05%/yr vs 0.19%/yr for XAAG.DE.
Performance
P500.DE vs. XAAG.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 lower than XAAG.DE's 27.69% 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%
XAAG.DE
- 1D
- -0.56%
- 1M
- 2.26%
- YTD
- 27.69%
- 6M
- 27.75%
- 1Y
- 46.69%
- 3Y*
- 17.71%
- 5Y*
- 14.95%
- 10Y*
- —
P500.DE vs. XAAG.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
P500.DE Invesco S&P 500 UCITS ETF | 11.47% | 4.88% | 32.56% | 22.69% | -14.05% | 41.05% | 7.04% | 34.88% | -0.84% | 5.21% |
XAAG.DE Invesco Bloomberg Commodity ex-Agriculture UCITS ETF Acc | 27.69% | 12.13% | 14.84% | -14.76% | 23.35% | 39.76% | -19.46% | 12.99% | -5.11% | 4.28% |
Correlation
The correlation between P500.DE and XAAG.DE is 0.01, 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 | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since May 31, 2017 | 0.25 |
Over the past year, the correlation between P500.DE and XAAG.DE has dropped to 0.01 - well below their long-term average of 0.25, suggesting their price drivers have been diverging.
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Return for Risk
P500.DE vs. XAAG.DE — Risk / Return Rank
P500.DE
XAAG.DE
P500.DE vs. XAAG.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 Bloomberg Commodity ex-Agriculture UCITS ETF Acc (XAAG.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 | XAAG.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.39 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.62 | 4.08 | -0.47 |
| Martin ratioReturn relative to average drawdown | 12.91 | 9.65 | +3.26 |
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 | XAAG.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.23 | 2.17 | +0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.98 | 0.73 | +0.25 |
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 | 0.49 | +0.52 |
Drawdowns
P500.DE vs. XAAG.DE - Drawdown Comparison
The maximum P500.DE drawdown since its inception was -33.78%, roughly equal to the maximum XAAG.DE drawdown of -33.85%. Use the drawdown chart below to compare losses from any high point for P500.DE and XAAG.DE.
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Drawdown Indicators
| P500.DE | XAAG.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.78% | -33.85% | +0.07% |
Max Drawdown (1Y)Largest decline over 1 year | -7.11% | -11.54% | +4.43% |
Max Drawdown (3Y)Largest decline over 3 years | -23.34% | -16.26% | -7.08% |
Max Drawdown (5Y)Largest decline over 5 years | -23.34% | -33.85% | +10.51% |
Max Drawdown (10Y)Largest decline over 10 years | -33.78% | — | — |
Current DrawdownCurrent decline from peak | -0.40% | -2.54% | +2.14% |
Average DrawdownAverage peak-to-trough decline | -3.85% | -13.88% | +10.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.99% | 4.89% | -2.90% |
Volatility
P500.DE vs. XAAG.DE - Volatility Comparison
The current volatility for Invesco S&P 500 UCITS ETF (P500.DE) is 2.65%, while Invesco Bloomberg Commodity ex-Agriculture UCITS ETF Acc (XAAG.DE) has a volatility of 4.71%. This indicates that P500.DE experiences smaller price fluctuations and is considered to be less risky than XAAG.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 | XAAG.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.65% | 4.71% | -2.06% |
Volatility (6M)Calculated over the trailing 6-month period | 7.59% | 18.81% | -11.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.52% | 21.76% | -10.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.17% | 20.32% | -5.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.07% | 18.40% | -2.33% |
P500.DE vs. XAAG.DE - Expense Ratio Comparison
P500.DE has a 0.05% expense ratio, which is lower than XAAG.DE's 0.19% 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. XAAG.DE - Dividend Comparison
Neither P500.DE nor XAAG.DE has paid dividends to shareholders.
Frequently Asked Questions
P500.DE and XAAG.DE have a correlation of 0.01, 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 0.19% for XAAG.DE.
P500.DE is categorized as S&P 500, while XAAG.DE is Commodities. P500.DE tracks S&P 500 Index, while XAAG.DE tracks Bloomberg Commodity ex-Agriculture and Livestock. Their fees differ too: 0.05% for P500.DE and 0.19% for XAAG.DE.
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