PQVG.L vs. SPXS.L
PQVG.L (Invesco S&P 500 QVM UCITS ETF) and SPXS.L (Invesco S&P 500 UCITS ETF USD (Acc)) are both S&P 500 funds from Invesco - PQVG.L tracks the S&P 500 Quality, Value, and Momentum Multi-Factor Index (Net Total Return) while SPXS.L tracks the S&P 500 Index. Both are passively managed. Over the past 5 years, PQVG.L returned 14.80%/yr vs -54.83%/yr for SPXS.L. A 0.78 correlation means they provide meaningful diversification when combined. PQVG.L charges 0.35%/yr vs 0.05%/yr for SPXS.L.
Performance
PQVG.L vs. SPXS.L - Performance Comparison
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Different Trading Currencies
PQVG.L is traded in GBp, while SPXS.L is traded in USD. To make them comparable, the SPXS.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, PQVG.L achieves a 14.02% return, which is significantly higher than SPXS.L's 9.10% return.
PQVG.L
- 1D
- -0.06%
- 1M
- -5.28%
- 6M
- 10.96%
- YTD
- 14.02%
- 1Y
- 20.06%
- 3Y*
- 20.21%
- 5Y*
- 14.80%
- 10Y*
- —
SPXS.L
- 1D
- -1.15%
- 1M
- -1.82%
- 6M
- 7.38%
- YTD
- 9.10%
- 1Y
- -98.80%
- 3Y*
- -74.51%
- 5Y*
- -54.83%
- 10Y*
- -27.66%
PQVG.L vs. SPXS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PQVG.L Invesco S&P 500 QVM UCITS ETF | 14.02% | 5.84% | 32.29% | 0.98% | 12.54% | 27.78% | 4.44% | 21.16% | -1.98% | -10.66% |
SPXS.L Invesco S&P 500 UCITS ETF USD (Acc) | 9.10% | -98.91% | 27.76% | 20.65% | -8.84% | 30.87% | 14.43% | 25.88% | 0.43% | 10.18% |
Correlation
The correlation between PQVG.L and SPXS.L is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since May 18, 2017 | 0.78 |
Over the past year, the correlation between PQVG.L and SPXS.L has dropped to 0.49 - well below their long-term average of 0.78, suggesting their price drivers have been diverging.
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Return for Risk
PQVG.L vs. SPXS.L — Risk / Return Rank
PQVG.L
SPXS.L
PQVG.L vs. SPXS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 QVM UCITS ETF (PQVG.L) and Invesco S&P 500 UCITS ETF USD (Acc) (SPXS.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.
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.
| PQVG.L | SPXS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.56 | ||
| Sortino ratioReturn per unit of downside risk | +2.91 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 0.51 | +0.78 |
| Calmar ratioReturn relative to maximum drawdown | 2.68 | -1.00 | +3.67 |
| Martin ratioReturn relative to average drawdown | 11.09 | -1.22 | +12.31 |
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Drawdowns
PQVG.L vs. SPXS.L - Drawdown Comparison
The maximum PQVG.L drawdown since its inception was -25.88%, smaller than the maximum SPXS.L drawdown of -99.07%. Use the drawdown chart below to compare losses from any high point for PQVG.L and SPXS.L.
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Drawdown Indicators
| PQVG.L | SPXS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.88% | -99.07% | +73.19% |
Max Drawdown (1Y)Largest decline over 1 year | -7.46% | -99.07% | +91.61% |
Max Drawdown (3Y)Largest decline over 3 years | -17.44% | -99.07% | +81.63% |
Max Drawdown (5Y)Largest decline over 5 years | -17.44% | -99.07% | +81.63% |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.07% | — |
Current DrawdownCurrent decline from peak | -7.46% | -98.93% | +91.47% |
Average DrawdownAverage peak-to-trough decline | -5.78% | -7.36% | +1.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.80% | 80.83% | -79.03% |
Volatility
PQVG.L vs. SPXS.L - Volatility Comparison
Invesco S&P 500 QVM UCITS ETF (PQVG.L) has a higher volatility of 7.45% compared to Invesco S&P 500 UCITS ETF USD (Acc) (SPXS.L) at 3.15%. This indicates that PQVG.L's price experiences larger fluctuations and is considered to be riskier than SPXS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PQVG.L | SPXS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.45% | 3.15% | +4.30% |
Volatility (6M)Calculated over the trailing 6-month period | 10.81% | 9.34% | +1.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.76% | 99.46% | -86.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.20% | 46.94% | -31.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.99% | 35.32% | -17.33% |
PQVG.L vs. SPXS.L - Expense Ratio Comparison
PQVG.L has a 0.35% expense ratio, which is higher than SPXS.L's 0.05% expense ratio.
Dividends
PQVG.L vs. SPXS.L - Dividend Comparison
PQVG.L's dividend yield for the trailing twelve months is around 0.83%, while SPXS.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
PQVG.L Invesco S&P 500 QVM UCITS ETF | 0.83% | 0.83% | 0.82% | 1.61% | 1.77% | 0.88% | 1.59% | 1.41% | 1.30% | 0.72% |
SPXS.L Invesco S&P 500 UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PQVG.L and SPXS.L have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPXS.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPXS.L is cheaper with a 0.05% expense ratio, compared with 0.35% for PQVG.L.
PQVG.L tracks S&P 500 Quality, Value, and Momentum Multi-Factor Index (Net Total Return), while SPXS.L tracks S&P 500 Index. Their fees differ too: 0.35% for PQVG.L and 0.05% for SPXS.L.
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