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SPED.L vs. SPEX.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SPED.L vs. SPEX.L

Last updated Jun 5, 2026

SPED.L (Invesco S&P 500 Equal Weight UCITS ETF Dist) and SPEX.L (Invesco S&P 500 Equal Weight UCITS ETF Acc) are both S&P 500 funds from Invesco - SPED.L tracks the S&P 500 Equal Weight Net Total Return while SPEX.L tracks the S&P 500 Equal Weight Index. Both are passively managed. Over the past 5 years, SPED.L returned 8.23%/yr vs 8.26%/yr for SPEX.L. A 0.76 correlation means they provide meaningful diversification when combined. Both charge a 0.20% expense ratio.

Performance

SPED.L vs. SPEX.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 Equal Weight UCITS ETF Dist (SPED.L) and Invesco S&P 500 Equal Weight UCITS ETF Acc (SPEX.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

SPED.L is traded in USD, while SPEX.L is traded in GBp. To make them comparable, the SPEX.L values have been converted to USD using the latest available exchange rates.

Returns By Period

As of year-to-date, both investments have demonstrated similar returns, with SPED.L at 9.35% and SPEX.L at 9.35%.

SPED.L

1D
0.37%
1M
3.71%
YTD
9.35%
6M
10.62%
1Y
19.82%
3Y*
15.22%
5Y*
8.23%
10Y*
—

SPEX.L

1D
0.52%
1M
3.88%
YTD
9.35%
6M
10.83%
1Y
19.87%
3Y*
15.14%
5Y*
8.26%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

SPED.L vs. SPEX.L - Yearly Performance Comparison

2026 (YTD)20252024202320222021
SPED.L
Invesco S&P 500 Equal Weight UCITS ETF Dist		9.35%11.67%12.37%13.50%-12.03%11.48%
SPEX.L
Invesco S&P 500 Equal Weight UCITS ETF Acc		9.35%11.74%12.18%13.32%-11.74%11.08%

Correlation

The correlation between SPED.L and SPEX.L is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.92

Correlation (3Y)
Calculated over the trailing 3-year period

0.87

Correlation (5Y)
Calculated over the trailing 5-year period

0.76

Correlation (All Time)
Calculated using the full available price history since Apr 26, 2021

0.76

The correlation between SPED.L and SPEX.L shifts across timeframes, from 0.76 (all time) to 0.92 (1 year), reflecting how their relationship changes across market environments.

SPED.L vs. SPEX.L - Sectors Allocation Comparison

Sectors
SPED.L
SPEX.L

Technology

18.3%
20.1%

Industrials

14.7%
14.1%

Financial Services

14.4%
14.2%

Healthcare

10.9%
11.2%

Consumer Cyclical

10.3%
9.9%

Consumer Defensive

6.5%
6.5%

Real Estate

6.2%
6.2%

Utilities

6.1%
5.8%

Energy

4.6%
4.2%

Basic Materials

4.1%
3.9%

Communication Services

4.0%
3.9%

Technology

SPED.L
18.3%
SPEX.L
20.1%

Industrials

SPED.L
14.7%
SPEX.L
14.1%

Financial Services

SPED.L
14.4%
SPEX.L
14.2%

Healthcare

SPED.L
10.9%
SPEX.L
11.2%

Consumer Cyclical

SPED.L
10.3%
SPEX.L
9.9%

Consumer Defensive

SPED.L
6.5%
SPEX.L
6.5%

Real Estate

SPED.L
6.2%
SPEX.L
6.2%

Utilities

SPED.L
6.1%
SPEX.L
5.8%

Energy

SPED.L
4.6%
SPEX.L
4.2%

Basic Materials

SPED.L
4.1%
SPEX.L
3.9%

Communication Services

SPED.L
4.0%
SPEX.L
3.9%

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Invesco S&P 500 Equal Weight UCITS ETF Dist

Invesco S&P 500 Equal Weight UCITS ETF Acc

Often compared with SPED.L:
SPED.L vs. XDED.DESPED.L vs. MWEQ.LSPED.L vs. IUMS.LSPED.L vs. VUAA.LSPED.L vs. SPYL.LSPED.L vs. ICSU.LSPED.L vs. EQGB.L
Often compared with SPEX.L:
SPEX.L vs. RSPSPEX.L vs. ^SPXEWSPEX.L vs. WELE.DESPEX.L vs. SPYSPEX.L vs. EWSP.LSPEX.L vs. BTC-USDSPEX.L vs. VOO

Return for Risk

SPED.L vs. SPEX.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SPED.L
SPED.L Risk / Return Rank: 5858
Overall Rank
SPED.L Sharpe Ratio Rank: 5555
Sharpe Ratio Rank
SPED.L Sortino Ratio Rank: 6060
Sortino Ratio Rank
SPED.L Omega Ratio Rank: 5454
Omega Ratio Rank
SPED.L Calmar Ratio Rank: 6060
Calmar Ratio Rank
SPED.L Martin Ratio Rank: 5959
Martin Ratio Rank
SPEX.L
SPEX.L Risk / Return Rank: 6868
Overall Rank
SPEX.L Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
SPEX.L Sortino Ratio Rank: 6767
Sortino Ratio Rank
SPEX.L Omega Ratio Rank: 6666
Omega Ratio Rank
SPEX.L Calmar Ratio Rank: 7474
Calmar Ratio Rank
SPEX.L Martin Ratio Rank: 6666
Martin Ratio Rank
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.

SPED.L vs. SPEX.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Equal Weight UCITS ETF Dist (SPED.L) 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.

SPED.LSPEX.LDifference
Sharpe ratioReturn per unit of total volatility
1.85
1.92

-0.07

Sortino ratioReturn per unit of downside risk
2.80
2.89

-0.09

Omega ratioGain probability vs. loss probability

1.33

1.33

0.00

Calmar ratioReturn relative to maximum drawdown

2.93

2.80

+0.13

Martin ratioReturn relative to average drawdown

10.31

10.17

+0.13

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPED.L vs. SPEX.L - Sharpe Ratio Comparison

The current SPED.L Sharpe Ratio is 1.85, which is comparable to the SPEX.L Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of SPED.L and SPEX.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

SPED.LSPEX.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.85

1.92

-0.07

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.58

0.53

+0.05

Sharpe Ratio (All Time)

Calculated using the full available price history

0.62

0.70

-0.08

Drawdowns

SPED.L vs. SPEX.L - Drawdown Comparison

The maximum SPED.L drawdown since its inception was -20.80%, roughly equal to the maximum SPEX.L drawdown of -21.53%. Use the drawdown chart below to compare losses from any high point for SPED.L and SPEX.L.

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Drawdown Indicators

SPED.LSPEX.LDifference

Max Drawdown

Largest peak-to-trough decline

-20.80%

-21.53%

+0.73%

Max Drawdown (1Y)

Largest decline over 1 year

-6.75%

-7.08%

+0.33%

Max Drawdown (3Y)

Largest decline over 3 years

-18.41%

-18.27%

-0.14%

Max Drawdown (5Y)

Largest decline over 5 years

-20.80%

-21.53%

+0.73%

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-4.95%

-5.20%

+0.25%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.92%

1.95%

-0.03%

Volatility

SPED.L vs. SPEX.L - Volatility Comparison

Invesco S&P 500 Equal Weight UCITS ETF Dist (SPED.L) has a higher volatility of 2.60% compared to Invesco S&P 500 Equal Weight UCITS ETF Acc (SPEX.L) at 2.13%. This indicates that SPED.L'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

SPED.LSPEX.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.60%

2.13%

+0.47%

Volatility (6M)

Calculated over the trailing 6-month period

7.38%

7.11%

+0.27%

Volatility (1Y)

Calculated over the trailing 1-year period

10.68%

10.30%

+0.38%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.59%

15.62%

+1.97%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.52%

16.11%

+1.41%

SPED.L vs. SPEX.L - Expense Ratio Comparison

Both SPED.L and SPEX.L have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

SPED.L vs. SPEX.L - Dividend Comparison

SPED.L's dividend yield for the trailing twelve months is around 1.28%, while SPEX.L has not paid dividends to shareholders.

PositionTTM20252024202320222021
SPED.L
Invesco S&P 500 Equal Weight UCITS ETF Dist		1.28%1.36%1.39%1.46%1.51%0.74%
SPEX.L
Invesco S&P 500 Equal Weight UCITS ETF Acc		0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

With a correlation of 0.92, SPED.L and SPEX.L 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.

Both ETFs have the same 0.20% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

SPED.L and SPEX.L have the same expense ratio: 0.20% per year.

SPED.L tracks S&P 500 Equal Weight Net Total Return, while SPEX.L tracks S&P 500 Equal Weight Index.

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