SPIAX vs. BSPGX
SPIAX (Invesco S&P 500 Index A) and BSPGX (iShares S&P 500 Index Fund Class G) are both S&P 500 funds - SPIAX tracks the S&P 500 while BSPGX tracks the S&P 500 Index. Both are passively managed. Over the past 5 years, SPIAX returned 13.01%/yr vs 13.59%/yr for BSPGX. With a 0.99 correlation, they move nearly in lockstep. SPIAX charges 0.54%/yr vs 0.01%/yr for BSPGX.
Performance
SPIAX vs. BSPGX - Performance Comparison
Loading charts...
Returns By Period
The year-to-date returns for both investments are quite close, with SPIAX having a 9.53% return and BSPGX slightly higher at 9.78%.
SPIAX
- 1D
- -0.37%
- 1M
- 0.05%
- YTD
- 9.53%
- 6M
- 8.51%
- 1Y
- 24.91%
- 3Y*
- 20.75%
- 5Y*
- 13.01%
- 10Y*
- 15.18%
BSPGX
- 1D
- -0.36%
- 1M
- 0.10%
- YTD
- 9.78%
- 6M
- 8.78%
- 1Y
- 25.47%
- 3Y*
- 21.37%
- 5Y*
- 13.59%
- 10Y*
- —
SPIAX vs. BSPGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SPIAX Invesco S&P 500 Index A | 9.53% | 17.23% | 24.34% | 25.63% | -18.56% | 27.99% | 17.84% | 9.76% |
BSPGX iShares S&P 500 Index Fund Class G | 9.78% | 17.85% | 24.96% | 26.27% | -18.12% | 28.66% | 19.16% | 11.06% |
Correlation
The correlation between SPIAX and BSPGX is 1.00 - 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 | 1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 1.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 1.00 |
Correlation (All Time) Calculated using the full available price history since Jul 2, 2019 | 0.99 |
The correlation between SPIAX and BSPGX has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SPIAX vs. BSPGX — Risk / Return Rank
SPIAX
BSPGX
SPIAX vs. BSPGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Index A (SPIAX) and iShares S&P 500 Index Fund Class G (BSPGX). 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.
| SPIAX | BSPGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.39 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.94 | 3.01 | -0.08 |
| Martin ratioReturn relative to average drawdown | 13.19 | 13.60 | -0.41 |
Loading charts...
Drawdowns
SPIAX vs. BSPGX - Drawdown Comparison
The maximum SPIAX drawdown since its inception was -55.47%, which is greater than BSPGX's maximum drawdown of -33.74%. Use the drawdown chart below to compare losses from any high point for SPIAX and BSPGX.
Loading charts...
Drawdown Indicators
| SPIAX | BSPGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.47% | -33.74% | -21.73% |
Max Drawdown (1Y)Largest decline over 1 year | -8.97% | -8.90% | -0.07% |
Max Drawdown (3Y)Largest decline over 3 years | -18.84% | -18.73% | -0.11% |
Max Drawdown (5Y)Largest decline over 5 years | -24.81% | -24.50% | -0.31% |
Max Drawdown (10Y)Largest decline over 10 years | -33.84% | — | — |
Current DrawdownCurrent decline from peak | -1.75% | -1.72% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -10.76% | -5.06% | -5.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.99% | 1.97% | +0.02% |
Volatility
SPIAX vs. BSPGX - Volatility Comparison
Invesco S&P 500 Index A (SPIAX) and iShares S&P 500 Index Fund Class G (BSPGX) have volatilities of 4.67% and 4.67%, 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.
Loading charts...
Volatility by Period
| SPIAX | BSPGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.67% | 4.67% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 9.92% | 9.83% | +0.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.54% | 12.49% | +0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.00% | 16.98% | +0.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.13% | 20.00% | -1.87% |
SPIAX vs. BSPGX - Expense Ratio Comparison
SPIAX has a 0.54% expense ratio, which is higher than BSPGX's 0.01% expense ratio.
Dividends
SPIAX vs. BSPGX - Dividend Comparison
SPIAX's dividend yield for the trailing twelve months is around 0.93%, less than BSPGX's 1.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSPGX iShares S&P 500 Index Fund Class G | 1.61% | 1.74% | 1.43% | 1.52% | 2.04% | 1.83% | 2.09% | 2.25% | 0.00% | 0.00% | 0.00% | 0.00% |
SPIAX Invesco S&P 500 Index A | 0.93% | 1.01% | 1.08% | 1.04% | 1.07% | 1.90% | 1.26% | 1.93% | 2.59% | 1.28% | 1.28% | 1.53% |
Frequently Asked Questions
With a correlation of 1.00, SPIAX and BSPGX 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.
BSPGX has higher volatility (4.67%) compared to SPIAX (4.67%). In terms of maximum drawdown, SPIAX dropped -55.47% vs BSPGX's -33.74%.
BSPGX currently has the higher Sharpe Ratio (2.15 vs 2.11), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for SPIAX and BSPGX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer