SPES.L vs. IESU.L
SPES.L (Invesco S&P 500 Equal Weight UCITS ETF Dist) and IESU.L (iShares S&P 500 Energy Sector UCITS ETF USD (Acc)) are both exchange-traded funds - SPES.L is a S&P 500 fund tracking the S&P 500 Equal Weight Index, while IESU.L is a Energy Equities fund tracking the S&P 500 Capped 35/20 Energy Index NTR. Both are passively managed. Over the past 5 years, SPES.L returned 9.44%/yr vs 22.82%/yr for IESU.L. At a 0.41 correlation, their price movements are largely independent. SPES.L charges 0.20%/yr vs 0.15%/yr for IESU.L.
Performance
SPES.L vs. IESU.L - Performance Comparison
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Returns By Period
In the year-to-date period, SPES.L achieves a 11.91% return, which is significantly lower than IESU.L's 28.61% return.
SPES.L
- 1D
- 0.07%
- 1M
- 0.84%
- 6M
- 7.89%
- YTD
- 11.91%
- 1Y
- 18.23%
- 3Y*
- 12.27%
- 5Y*
- 9.44%
- 10Y*
- —
IESU.L
- 1D
- 1.07%
- 1M
- 4.80%
- 6M
- 20.56%
- YTD
- 28.61%
- 1Y
- 35.99%
- 3Y*
- 13.44%
- 5Y*
- 22.82%
- 10Y*
- 8.50%
SPES.L vs. IESU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SPES.L Invesco S&P 500 Equal Weight UCITS ETF Dist | 11.91% | 3.95% | 13.66% | 8.18% | -1.34% | -15.96% |
IESU.L iShares S&P 500 Energy Sector UCITS ETF USD (Acc) | 28.61% | 2.26% | 5.45% | -5.96% | 83.53% | 19.72% |
Correlation
The correlation between SPES.L and IESU.L is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2021 | 0.41 |
Over the past year, the correlation between SPES.L and IESU.L has dropped to 0.11 - well below their long-term average of 0.41, suggesting their price drivers have been diverging.
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Return for Risk
SPES.L vs. IESU.L — Risk / Return Rank
SPES.L
IESU.L
SPES.L vs. IESU.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 (SPES.L) and iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IESU.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.
| SPES.L | IESU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.47 | ||
| Sortino ratioReturn per unit of downside risk | +0.77 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.26 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.16 | 2.07 | +1.10 |
| Martin ratioReturn relative to average drawdown | 10.26 | 5.01 | +5.25 |
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Drawdowns
SPES.L vs. IESU.L - Drawdown Comparison
The maximum SPES.L drawdown since its inception was -34.38%, smaller than the maximum IESU.L drawdown of -63.88%. Use the drawdown chart below to compare losses from any high point for SPES.L and IESU.L.
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Drawdown Indicators
| SPES.L | IESU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.38% | -63.88% | +29.50% |
Max Drawdown (1Y)Largest decline over 1 year | -5.74% | -17.34% | +11.60% |
Max Drawdown (3Y)Largest decline over 3 years | -19.65% | -26.36% | +6.71% |
Max Drawdown (5Y)Largest decline over 5 years | -19.65% | -26.36% | +6.71% |
Max Drawdown (10Y)Largest decline over 10 years | — | -62.16% | — |
Current DrawdownCurrent decline from peak | -1.24% | -10.65% | +9.41% |
Average DrawdownAverage peak-to-trough decline | -11.91% | -20.50% | +8.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.77% | 7.16% | -5.39% |
Volatility
SPES.L vs. IESU.L - Volatility Comparison
The current volatility for Invesco S&P 500 Equal Weight UCITS ETF Dist (SPES.L) is 2.81%, while iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IESU.L) has a volatility of 7.50%. This indicates that SPES.L experiences smaller price fluctuations and is considered to be less risky than IESU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPES.L | IESU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.81% | 7.50% | -4.69% |
Volatility (6M)Calculated over the trailing 6-month period | 6.62% | 21.74% | -15.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.50% | 24.54% | -15.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.00% | 29.08% | -15.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.83% | 29.16% | -8.33% |
SPES.L vs. IESU.L - Expense Ratio Comparison
SPES.L has a 0.20% expense ratio, which is higher than IESU.L's 0.15% 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
SPES.L vs. IESU.L - Dividend Comparison
SPES.L's dividend yield for the trailing twelve months is around 1.29%, while IESU.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
IESU.L iShares S&P 500 Energy Sector UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPES.L Invesco S&P 500 Equal Weight UCITS ETF Dist | 1.29% | 1.37% | 1.36% | 1.48% | 1.49% | 0.74% |
Frequently Asked Questions
SPES.L and IESU.L have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IESU.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IESU.L is cheaper with a 0.15% expense ratio, compared with 0.20% for SPES.L.
SPES.L is categorized as S&P 500, while IESU.L is Energy Equities. SPES.L tracks S&P 500 Equal Weight Index, while IESU.L tracks S&P 500 Capped 35/20 Energy Index NTR. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.20% for SPES.L and 0.15% for IESU.L.
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