SP2Q.DE vs. XZEW.DE

Last updated Jun 5, 2026

SP2Q.DE (Invesco S&P 500 Equal Weight UCITS ETF Acc) and XZEW.DE (Xtrackers S&P 500 Equal Weight ESG UCITS ETF 1C) are both S&P 500 funds - SP2Q.DE tracks the S&P 500® Equal Weight while XZEW.DE tracks the S&P 500 Equal Weight ESG. Both are passively managed. Over the past 3 years, SP2Q.DE returned 12.12%/yr vs 12.65%/yr for XZEW.DE. With a 0.97 correlation, they move nearly in lockstep. SP2Q.DE charges 0.20%/yr vs 0.17%/yr for XZEW.DE.

Performance

SP2Q.DE vs. XZEW.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Invesco S&P 500 Equal Weight UCITS ETF Acc (SP2Q.DE) and Xtrackers S&P 500 Equal Weight ESG UCITS ETF 1C (XZEW.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with SP2Q.DE having a 10.37% return and XZEW.DE slightly higher at 10.78%.

SP2Q.DE

• 1D: 0.28%
• 1M: 4.59%
• YTD: 10.37%
• 6M: 10.95%
• 1Y: 17.59%
• 3Y*: 12.12%
• 5Y*: 9.25%
• 10Y*: —

XZEW.DE

• 1D: 0.38%
• 1M: 4.75%
• YTD: 10.78%
• 6M: 11.99%
• 1Y: 21.75%
• 3Y*: 12.65%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SP2Q.DE vs. XZEW.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SP2Q.DE Invesco S&P 500 Equal Weight UCITS ETF Acc	10.37%	-0.55%	18.83%	9.91%	-3.43%
XZEW.DE Xtrackers S&P 500 Equal Weight ESG UCITS ETF 1C	10.78%	1.09%	18.02%	10.63%	-3.60%

Correlation

The correlation between SP2Q.DE and XZEW.DE is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (All Time) Calculated using the full available price history since Dec 13, 2022	0.97

The correlation between SP2Q.DE and XZEW.DE has been stable across timeframes, ranging from 0.97 to 0.97 - a consistent structural relationship.

Return for Risk

SP2Q.DE vs. XZEW.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SP2Q.DE

SP2Q.DE Risk / Return Rank: 54
SP2Q.DE Sharpe Ratio Rank: 48
SP2Q.DE Sortino Ratio Rank: 47
SP2Q.DE Omega Ratio Rank: 48
SP2Q.DE Calmar Ratio Rank: 70
SP2Q.DE Martin Ratio Rank: 59

XZEW.DE

XZEW.DE Risk / Return Rank: 66
XZEW.DE Sharpe Ratio Rank: 59
XZEW.DE Sortino Ratio Rank: 60
XZEW.DE Omega Ratio Rank: 59
XZEW.DE Calmar Ratio Rank: 83
XZEW.DE Martin Ratio Rank: 70

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SP2Q.DE vs. XZEW.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Equal Weight UCITS ETF Acc (SP2Q.DE) and Xtrackers S&P 500 Equal Weight ESG UCITS ETF 1C (XZEW.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.

	SP2Q.DE	XZEW.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.64	1.98	-0.34
Sortino ratio: Return per unit of downside risk	2.32	2.77	-0.45
Omega ratio: Gain probability vs. loss probability	1.29	1.35	-0.06
Calmar ratio: Return relative to maximum drawdown	3.43	4.33	-0.90
Martin ratio: Return relative to average drawdown	10.24	12.75	-2.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SP2Q.DE vs. XZEW.DE - Sharpe Ratio Comparison

The current SP2Q.DE Sharpe Ratio is 1.64, which is comparable to the XZEW.DE Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of SP2Q.DE and XZEW.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SP2Q.DE	XZEW.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.64	1.98	-0.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.61	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.75	0.74	+0.01

Drawdowns

SP2Q.DE vs. XZEW.DE - Drawdown Comparison

The maximum SP2Q.DE drawdown since its inception was -22.73%, smaller than the maximum XZEW.DE drawdown of -23.98%. Use the drawdown chart below to compare losses from any high point for SP2Q.DE and XZEW.DE.

Drawdown Indicators

	SP2Q.DE	XZEW.DE	Difference
Max Drawdown Largest peak-to-trough decline	-22.73%	-23.98%	+1.25%
Max Drawdown (1Y) Largest decline over 1 year	-5.11%	-5.00%	-0.11%
Max Drawdown (3Y) Largest decline over 3 years	-22.73%	-23.98%	+1.25%
Max Drawdown (5Y) Largest decline over 5 years	-22.73%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.22%	-4.76%	-0.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.71%	1.70%	+0.01%

Volatility

SP2Q.DE vs. XZEW.DE - Volatility Comparison

Invesco S&P 500 Equal Weight UCITS ETF Acc (SP2Q.DE) and Xtrackers S&P 500 Equal Weight ESG UCITS ETF 1C (XZEW.DE) have volatilities of 2.04% and 2.12%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SP2Q.DE	XZEW.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.04%	2.12%	-0.08%
Volatility (6M) Calculated over the trailing 6-month period	6.81%	6.92%	-0.11%
Volatility (1Y) Calculated over the trailing 1-year period	10.66%	10.93%	-0.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.91%	13.97%	+0.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.44%	13.97%	+1.47%

SP2Q.DE vs. XZEW.DE - Expense Ratio Comparison

SP2Q.DE has a 0.20% expense ratio, which is higher than XZEW.DE's 0.17% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SP2Q.DE vs. XZEW.DE - Dividend Comparison

Neither SP2Q.DE nor XZEW.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SP2Q.DE and XZEW.DE in my portfolio?

With a correlation of 0.97, SP2Q.DE and XZEW.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, SP2Q.DE or XZEW.DE?

On fees, XZEW.DE is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SP2Q.DE or XZEW.DE?

XZEW.DE is cheaper with a 0.17% expense ratio, compared with 0.20% for SP2Q.DE.

What is the main difference between SP2Q.DE and XZEW.DE?

SP2Q.DE tracks S&P 500® Equal Weight, while XZEW.DE tracks S&P 500 Equal Weight ESG. They also come from different issuers: Invesco and Xtrackers. Their fees differ too: 0.20% for SP2Q.DE and 0.17% for XZEW.DE.