SPEX.L vs. ^SPXEW
SPEX.L (Invesco S&P 500 Equal Weight UCITS ETF Acc) is S&P 500 fund tracking the S&P 500 Equal Weight Index, while ^SPXEW (S&P 500 Equal Weighted Index) is an index. Over the past 5 years, SPEX.L returned 9.67%/yr vs 7.89%/yr for ^SPXEW. A 0.58 correlation means they provide meaningful diversification when combined.
Performance
SPEX.L vs. ^SPXEW - Performance Comparison
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Different Trading Currencies
SPEX.L is traded in GBp, while ^SPXEW is traded in USD. To make them comparable, the ^SPXEW values have been converted to GBp using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with SPEX.L having a 12.70% return and ^SPXEW slightly lower at 12.30%.
SPEX.L
- 1D
- 1.37%
- 1M
- 4.99%
- YTD
- 12.70%
- 6M
- 13.18%
- 1Y
- 23.28%
- 3Y*
- 13.54%
- 5Y*
- 9.67%
- 10Y*
- —
^SPXEW
- 1D
- 0.90%
- 1M
- 3.65%
- YTD
- 12.30%
- 6M
- 11.20%
- 1Y
- 21.86%
- 3Y*
- 11.83%
- 5Y*
- 7.89%
- 10Y*
- 10.80%
SPEX.L vs. ^SPXEW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SPEX.L Invesco S&P 500 Equal Weight UCITS ETF Acc | 12.70% | 3.90% | 14.09% | 7.64% | -1.17% | 8,302.22% |
^SPXEW S&P 500 Equal Weighted Index | 12.30% | 1.55% | 12.84% | 5.98% | -2.78% | 15.61% |
Correlation
The correlation between SPEX.L and ^SPXEW is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2021 | 0.58 |
The correlation between SPEX.L and ^SPXEW has been stable across timeframes, ranging from 0.58 to 0.64 - a consistent structural relationship.
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Return for Risk
SPEX.L vs. ^SPXEW — Risk / Return Rank
SPEX.L
^SPXEW
SPEX.L vs. ^SPXEW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Equal Weight UCITS ETF Acc (SPEX.L) and S&P 500 Equal Weighted Index (^SPXEW). 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.
| SPEX.L | ^SPXEW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.58 | ||
| Sortino ratioReturn per unit of downside risk | +0.82 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.32 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 4.04 | 3.09 | +0.95 |
| Martin ratioReturn relative to average drawdown | 13.16 | 10.42 | +2.74 |
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Drawdowns
SPEX.L vs. ^SPXEW - Drawdown Comparison
The maximum SPEX.L drawdown since its inception was -20.03%, smaller than the maximum ^SPXEW drawdown of -41.56%. Use the drawdown chart below to compare losses from any high point for SPEX.L and ^SPXEW.
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Drawdown Indicators
| SPEX.L | ^SPXEW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.03% | -41.56% | +21.53% |
Max Drawdown (1Y)Largest decline over 1 year | -5.73% | -6.65% | +0.92% |
Max Drawdown (3Y)Largest decline over 3 years | -20.03% | -19.94% | -0.09% |
Max Drawdown (5Y)Largest decline over 5 years | -20.03% | -19.94% | -0.09% |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.04% | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -5.56% | -5.87% | +0.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.76% | 1.97% | -0.21% |
Volatility
SPEX.L vs. ^SPXEW - Volatility Comparison
The current volatility for Invesco S&P 500 Equal Weight UCITS ETF Acc (SPEX.L) is 2.25%, while S&P 500 Equal Weighted Index (^SPXEW) has a volatility of 2.96%. This indicates that SPEX.L experiences smaller price fluctuations and is considered to be less risky than ^SPXEW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPEX.L | ^SPXEW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.25% | 2.96% | -0.71% |
Volatility (6M)Calculated over the trailing 6-month period | 6.76% | 8.40% | -1.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.70% | 11.32% | -1.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.60% | 15.11% | +4.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2,837.49% | 18.12% | +2,819.37% |
Frequently Asked Questions
SPEX.L and ^SPXEW have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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