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SPX5.L vs. ACWI.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SPX5.L vs. ACWI.L

Last updated Jun 5, 2026

SPX5.L (SPDR S&P 500 UCITS ETF) and ACWI.L (SPDR MSCI ACWI UCITS ETF) are both exchange-traded funds - SPX5.L is a S&P 500 fund tracking the S&P 500 Index, while ACWI.L is a Global Equities fund tracking the MSCI ACWI NR USD. Both are passively managed. Over the past 10 years, SPX5.L returned 16.17%/yr vs 13.49%/yr for ACWI.L. With a 0.95 correlation, they move nearly in lockstep. SPX5.L charges 0.09%/yr vs 0.40%/yr for ACWI.L.

Performance

SPX5.L vs. ACWI.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in SPDR S&P 500 UCITS ETF (SPX5.L) and SPDR MSCI ACWI UCITS ETF (ACWI.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SPX5.L achieves a 10.53% return, which is significantly lower than ACWI.L's 11.83% return. Over the past 10 years, SPX5.L has outperformed ACWI.L with an annualized return of 16.17%, while ACWI.L has yielded a comparatively lower 13.49% annualized return.

SPX5.L

1D
0.05%
1M
5.53%
YTD
10.53%
6M
10.48%
1Y
29.15%
3Y*
19.03%
5Y*
14.92%
10Y*
16.17%

ACWI.L

1D
-0.04%
1M
5.29%
YTD
11.83%
6M
12.33%
1Y
30.27%
3Y*
18.14%
5Y*
12.52%
10Y*
13.49%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SPX5.L vs. ACWI.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SPX5.L
SPDR S&P 500 UCITS ETF		10.53%9.34%27.47%19.75%-9.01%30.96%13.52%26.74%-0.04%11.63%
ACWI.L
SPDR MSCI ACWI UCITS ETF		11.83%14.32%19.66%15.59%-8.59%20.28%11.89%21.92%-4.58%12.93%

Correlation

The correlation between SPX5.L and ACWI.L is 0.94, 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

0.94

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

0.94

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

0.95

Correlation (10Y)
Calculated over the trailing 10-year period

0.95

Correlation (All Time)
Calculated using the full available price history since Mar 22, 2012

0.95

The correlation between SPX5.L and ACWI.L has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.

SPX5.L vs. ACWI.L - Sectors Allocation Comparison

Sectors
SPX5.L
ACWI.L

Technology

35.6%
29.2%

Financial Services

11.8%
16.5%

Communication Services

11.2%
9.0%

Consumer Cyclical

10.1%
9.3%

Healthcare

8.5%
8.0%

Industrials

8.3%
10.9%

Consumer Defensive

4.9%
4.9%

Energy

3.5%
4.3%

Utilities

2.3%
2.7%

Real Estate

1.9%
1.7%

Basic Materials

1.8%
3.6%

Technology

SPX5.L
35.6%
ACWI.L
29.2%

Financial Services

SPX5.L
11.8%
ACWI.L
16.5%

Communication Services

SPX5.L
11.2%
ACWI.L
9.0%

Consumer Cyclical

SPX5.L
10.1%
ACWI.L
9.3%

Healthcare

SPX5.L
8.5%
ACWI.L
8.0%

Industrials

SPX5.L
8.3%
ACWI.L
10.9%

Consumer Defensive

SPX5.L
4.9%
ACWI.L
4.9%

Energy

SPX5.L
3.5%
ACWI.L
4.3%

Utilities

SPX5.L
2.3%
ACWI.L
2.7%

Real Estate

SPX5.L
1.9%
ACWI.L
1.7%

Basic Materials

SPX5.L
1.8%
ACWI.L
3.6%

Compare stocks, funds, or ETFs

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SPDR S&P 500 UCITS ETF

SPDR MSCI ACWI UCITS ETF

Often compared with SPX5.L:
SPX5.L vs. SPYSPX5.L vs. SPXP.LSPX5.L vs. VUSA.DESPX5.L vs. VUSA.LSPX5.L vs. VOOSPX5.L vs. IUSA.LSPX5.L vs. EQQQ.L
Often compared with ACWI.L:
ACWI.L vs. VWCE.DEACWI.L vs. ACWIACWI.L vs. IWDA.LACWI.L vs. SPYACWI.L vs. SSAC.LACWI.L vs. CSPX.ASACWI.L vs. IMID.L

Return for Risk

SPX5.L vs. ACWI.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SPX5.L
SPX5.L Risk / Return Rank: 8383
Overall Rank
SPX5.L Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
SPX5.L Sortino Ratio Rank: 8484
Sortino Ratio Rank
SPX5.L Omega Ratio Rank: 8686
Omega Ratio Rank
SPX5.L Calmar Ratio Rank: 8181
Calmar Ratio Rank
SPX5.L Martin Ratio Rank: 7979
Martin Ratio Rank
ACWI.L
ACWI.L Risk / Return Rank: 8686
Overall Rank
ACWI.L Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
ACWI.L Sortino Ratio Rank: 8888
Sortino Ratio Rank
ACWI.L Omega Ratio Rank: 8989
Omega Ratio Rank
ACWI.L Calmar Ratio Rank: 8282
Calmar Ratio Rank
ACWI.L Martin Ratio Rank: 8585
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.

SPX5.L vs. ACWI.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P 500 UCITS ETF (SPX5.L) and SPDR MSCI ACWI UCITS ETF (ACWI.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.

SPX5.LACWI.LDifference
Sharpe ratioReturn per unit of total volatility
2.76
2.89

-0.13

Sortino ratioReturn per unit of downside risk
3.71
3.99

-0.28

Omega ratioGain probability vs. loss probability

1.52

1.55

-0.04

Calmar ratioReturn relative to maximum drawdown

4.10

4.28

-0.17

Martin ratioReturn relative to average drawdown

15.08

17.31

-2.23

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

SPX5.L vs. ACWI.L - Sharpe Ratio Comparison

The current SPX5.L Sharpe Ratio is 2.76, which is comparable to the ACWI.L Sharpe Ratio of 2.89. The chart below compares the historical Sharpe Ratios of SPX5.L and ACWI.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

SPX5.LACWI.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.76

2.89

-0.13

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.05

0.96

+0.09

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

1.04

0.94

+0.10

Sharpe Ratio (All Time)

Calculated using the full available price history

1.04

0.81

+0.23

Drawdowns

SPX5.L vs. ACWI.L - Drawdown Comparison

The maximum SPX5.L drawdown since its inception was -25.45%, roughly equal to the maximum ACWI.L drawdown of -25.44%. Use the drawdown chart below to compare losses from any high point for SPX5.L and ACWI.L.

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Drawdown Indicators

SPX5.LACWI.LDifference

Max Drawdown

Largest peak-to-trough decline

-25.45%

-25.44%

-0.01%

Max Drawdown (1Y)

Largest decline over 1 year

-7.07%

-7.05%

-0.02%

Max Drawdown (3Y)

Largest decline over 3 years

-20.90%

-18.07%

-2.83%

Max Drawdown (5Y)

Largest decline over 5 years

-20.90%

-18.07%

-2.83%

Max Drawdown (10Y)

Largest decline over 10 years

-25.45%

-25.44%

-0.01%

Current Drawdown

Current decline from peak

-0.22%

-0.41%

+0.19%

Average Drawdown

Average peak-to-trough decline

-3.18%

-3.67%

+0.49%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.93%

1.74%

+0.19%

Volatility

SPX5.L vs. ACWI.L - Volatility Comparison

The current volatility for SPDR S&P 500 UCITS ETF (SPX5.L) is 2.67%, while SPDR MSCI ACWI UCITS ETF (ACWI.L) has a volatility of 2.90%. This indicates that SPX5.L experiences smaller price fluctuations and is considered to be less risky than ACWI.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SPX5.LACWI.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.67%

2.90%

-0.23%

Volatility (6M)

Calculated over the trailing 6-month period

7.16%

7.75%

-0.59%

Volatility (1Y)

Calculated over the trailing 1-year period

10.50%

10.42%

+0.08%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.22%

13.05%

+1.17%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.52%

14.39%

+1.13%

SPX5.L vs. ACWI.L - Expense Ratio Comparison

SPX5.L has a 0.09% expense ratio, which is lower than ACWI.L's 0.40% expense ratio.

Dividends

SPX5.L vs. ACWI.L - Dividend Comparison

SPX5.L's dividend yield for the trailing twelve months is around 0.89%, while ACWI.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
ACWI.L
SPDR MSCI ACWI UCITS ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
SPX5.L
SPDR S&P 500 UCITS ETF		0.89%0.98%1.04%1.21%1.39%0.98%1.40%1.76%1.71%2.36%1.49%1.68%

Frequently Asked Questions

With a correlation of 0.94, SPX5.L and ACWI.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.

On fees, SPX5.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

SPX5.L is cheaper with a 0.09% expense ratio, compared with 0.40% for ACWI.L.

SPX5.L is categorized as S&P 500, while ACWI.L is Global Equities. SPX5.L tracks S&P 500 Index, while ACWI.L tracks MSCI ACWI NR USD. Their fees differ too: 0.09% for SPX5.L and 0.40% for ACWI.L.

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