SPEQ.L vs. XDWE.L

Last updated Jul 17, 2026

SPEQ.L (Invesco S&P 500 Equal Weight UCITS ETF Acc) and XDWE.L (Xtrackers S&P 500 Equal Weight UCITS ETF 1C) are both S&P 500 funds - SPEQ.L tracks the S&P 500 Equal Weight Net Total Return while XDWE.L tracks the S&P 500 Equal Weight Index. Both are passively managed. Over the past 5 years, SPEQ.L returned 8.95%/yr vs 8.96%/yr for XDWE.L. Their correlation of 0.92 suggests significant overlap in exposure. Both charge a 0.20% expense ratio.

Performance

SPEQ.L vs. XDWE.L - Performance Comparison

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

Different Trading Currencies

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

Returns By Period

The year-to-date returns for both stocks are quite close, with SPEQ.L having a 12.08% return and XDWE.L slightly lower at 12.03%.

SPEQ.L

• 1D: 0.66%
• 1M: 1.28%
• 6M: 8.14%
• YTD: 12.08%
• 1Y: 20.54%
• 3Y*: 13.71%
• 5Y*: 8.95%
• 10Y*: —

XDWE.L

• 1D: 0.22%
• 1M: 1.21%
• 6M: 8.22%
• YTD: 12.03%
• 1Y: 20.86%
• 3Y*: 13.70%
• 5Y*: 8.96%
• 10Y*: 11.51%

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

SPEQ.L vs. XDWE.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SPEQ.L Invesco S&P 500 Equal Weight UCITS ETF Acc	12.08%	11.52%	12.24%	13.97%	-11.69%	13.21%
XDWE.L Xtrackers S&P 500 Equal Weight UCITS ETF 1C	12.03%	11.79%	12.16%	13.47%	-11.89%	15.47%

Correlation

The correlation between SPEQ.L and XDWE.L is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since Apr 6, 2021	0.92

The correlation between SPEQ.L and XDWE.L has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.

SPEQ.L vs. XDWE.L - Sectors Allocation Comparison

Sectors	SPEQ.L	XDWE.L
Technology	20.9%	20.9%
Industrials	14.2%	14.2%
Financial Services	13.9%	13.9%
Healthcare	11.1%	11.1%
Consumer Cyclical	10.1%	10.0%
Consumer Defensive	6.4%	6.4%
Real Estate	6.1%	6.1%
Utilities	5.7%	5.7%
Energy	4.0%	4.0%
Basic Materials	3.9%	3.9%
Communication Services	3.9%	3.9%

Return for Risk

SPEQ.L vs. XDWE.L — Risk / Return Rank

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

SPEQ.L

SPEQ.L Risk / Return Rank: 75
SPEQ.L Sharpe Ratio Rank: 75
SPEQ.L Sortino Ratio Rank: 81
SPEQ.L Omega Ratio Rank: 73
SPEQ.L Calmar Ratio Rank: 74
SPEQ.L Martin Ratio Rank: 74

XDWE.L

XDWE.L Risk / Return Rank: 82
XDWE.L Sharpe Ratio Rank: 83
XDWE.L Sortino Ratio Rank: 83
XDWE.L Omega Ratio Rank: 82
XDWE.L Calmar Ratio Rank: 83
XDWE.L Martin Ratio Rank: 77

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.

SPEQ.L vs. XDWE.L - Risk-Adjusted Trends Comparison

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

	SPEQ.L	XDWE.L	Difference
Sharpe ratio: Return per unit of total volatility	1.91	2.05	-0.14
Sortino ratio: Return per unit of downside risk	2.91	3.10	-0.18
Omega ratio: Gain probability vs. loss probability	1.34	1.36	-0.01
Calmar ratio: Return relative to maximum drawdown	2.98	2.93	+0.05
Martin ratio: Return relative to average drawdown	10.75	10.67	+0.08

SPEQ.L vs. XDWE.L - Sharpe Ratio Comparison

The current SPEQ.L Sharpe Ratio is 1.91, which is comparable to the XDWE.L Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of SPEQ.L and XDWE.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.

Drawdowns

SPEQ.L vs. XDWE.L - Drawdown Comparison

The maximum SPEQ.L drawdown since its inception was -20.86%, smaller than the maximum XDWE.L drawdown of -98.45%. Use the drawdown chart below to compare losses from any high point for SPEQ.L and XDWE.L.

Drawdown Indicators

	SPEQ.L	XDWE.L	Difference
Max Drawdown Largest peak-to-trough decline	-20.86%	-98.45%	+77.59%
Max Drawdown (1Y) Largest decline over 1 year	-6.85%	-7.08%	+0.23%
Max Drawdown (3Y) Largest decline over 3 years	-18.67%	-19.08%	+0.41%
Max Drawdown (5Y) Largest decline over 5 years	-20.86%	-21.62%	+0.76%
Max Drawdown (10Y) Largest decline over 10 years	—	-38.50%	—
Current Drawdown Current decline from peak	-0.03%	-0.14%	+0.11%
Average Drawdown Average peak-to-trough decline	-5.15%	-4.99%	-0.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.91%	1.95%	-0.04%

Volatility

SPEQ.L vs. XDWE.L - Volatility Comparison

Invesco S&P 500 Equal Weight UCITS ETF Acc (SPEQ.L) has a higher volatility of 2.78% compared to Xtrackers S&P 500 Equal Weight UCITS ETF 1C (XDWE.L) at 2.26%. This indicates that SPEQ.L's price experiences larger fluctuations and is considered to be riskier than XDWE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPEQ.L	XDWE.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.78%	2.26%	+0.52%
Volatility (6M) Calculated over the trailing 6-month period	7.81%	7.16%	+0.65%
Volatility (1Y) Calculated over the trailing 1-year period	10.77%	10.24%	+0.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.81%	20.58%	-4.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.67%	19.36%	-2.69%

SPEQ.L vs. XDWE.L - Expense Ratio Comparison

Both SPEQ.L and XDWE.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

SPEQ.L vs. XDWE.L - Dividend Comparison

Neither SPEQ.L nor XDWE.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SPEQ.L and XDWE.L in my portfolio?

SPEQ.L and XDWE.L have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPEQ.L or XDWE.L?

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

Which ETF is cheaper, SPEQ.L or XDWE.L?

SPEQ.L and XDWE.L have the same expense ratio: 0.20% per year.

What is the main difference between SPEQ.L and XDWE.L?

SPEQ.L tracks S&P 500 Equal Weight Net Total Return, while XDWE.L tracks S&P 500 Equal Weight Index. They also come from different issuers: Invesco and Xtrackers.