SPX5.L vs. GXLE.L

Last updated Jun 5, 2026

SPX5.L (SPDR S&P 500 UCITS ETF) and GXLE.L (SPDR S&P US Energy Select Sector UCITS ETF) are both exchange-traded funds - SPX5.L is a S&P 500 fund tracking the S&P 500 Index, while GXLE.L is a Energy Equities fund tracking the MSCI World/Energy NR USD. Both are passively managed. Over the past 3 years, SPX5.L returned 19.03%/yr vs 14.18%/yr for GXLE.L. At a 0.29 correlation, their price movements are largely independent. SPX5.L charges 0.09%/yr vs 0.15%/yr for GXLE.L.

Performance

SPX5.L vs. GXLE.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 S&P US Energy Select Sector UCITS ETF (GXLE.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPX5.L achieves a 10.53% return, which is significantly lower than GXLE.L's 30.65% 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%

GXLE.L

• 1D: -0.48%
• 1M: -0.13%
• YTD: 30.65%
• 6M: 28.41%
• 1Y: 47.66%
• 3Y*: 14.18%
• 5Y*: —
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023	2022
SPX5.L SPDR S&P 500 UCITS ETF	10.53%	9.34%	27.47%	19.75%	-7.81%
GXLE.L SPDR S&P US Energy Select Sector UCITS ETF	30.65%	2.22%	5.51%	-5.03%	26.48%

Correlation

The correlation between SPX5.L and GXLE.L is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.05
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (All Time) Calculated using the full available price history since Apr 5, 2022	0.29

The correlation between SPX5.L and GXLE.L shifts across timeframes, from -0.05 (1 year) to 0.29 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SPX5.L vs. GXLE.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: 83
SPX5.L Sharpe Ratio Rank: 85
SPX5.L Sortino Ratio Rank: 84
SPX5.L Omega Ratio Rank: 86
SPX5.L Calmar Ratio Rank: 81
SPX5.L Martin Ratio Rank: 79

GXLE.L

GXLE.L Risk / Return Rank: 56
GXLE.L Sharpe Ratio Rank: 61
GXLE.L Sortino Ratio Rank: 51
GXLE.L Omega Ratio Rank: 59
GXLE.L Calmar Ratio Rank: 58
GXLE.L Martin Ratio Rank: 53

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. GXLE.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 S&P US Energy Select Sector UCITS ETF (GXLE.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.L	GXLE.L	Difference
Sharpe ratio: Return per unit of total volatility	2.76	2.00	+0.77
Sortino ratio: Return per unit of downside risk	3.71	2.45	+1.25
Omega ratio: Gain probability vs. loss probability	1.52	1.35	+0.17
Calmar ratio: Return relative to maximum drawdown	4.10	2.85	+1.25
Martin ratio: Return relative to average drawdown	15.08	9.07	+6.00
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. GXLE.L - Sharpe Ratio Comparison

The current SPX5.L Sharpe Ratio is 2.76, which is higher than the GXLE.L Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of SPX5.L and GXLE.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.

Sharpe Ratios by Period

	SPX5.L	GXLE.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.76	2.00	+0.77
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.05	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.04	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.04	0.53	+0.51

Drawdowns

SPX5.L vs. GXLE.L - Drawdown Comparison

The maximum SPX5.L drawdown since its inception was -25.45%, which is greater than GXLE.L's maximum drawdown of -23.60%. Use the drawdown chart below to compare losses from any high point for SPX5.L and GXLE.L.

Drawdown Indicators

	SPX5.L	GXLE.L	Difference
Max Drawdown Largest peak-to-trough decline	-25.45%	-23.60%	-1.85%
Max Drawdown (1Y) Largest decline over 1 year	-7.07%	-16.63%	+9.56%
Max Drawdown (3Y) Largest decline over 3 years	-20.90%	-23.60%	+2.70%
Max Drawdown (5Y) Largest decline over 5 years	-20.90%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-25.45%	—	—
Current Drawdown Current decline from peak	-0.22%	-8.95%	+8.73%
Average Drawdown Average peak-to-trough decline	-3.18%	-10.77%	+7.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.93%	5.24%	-3.31%

Volatility

SPX5.L vs. GXLE.L - Volatility Comparison

The current volatility for SPDR S&P 500 UCITS ETF (SPX5.L) is 2.67%, while SPDR S&P US Energy Select Sector UCITS ETF (GXLE.L) has a volatility of 9.27%. This indicates that SPX5.L experiences smaller price fluctuations and is considered to be less risky than GXLE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPX5.L	GXLE.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.67%	9.27%	-6.60%
Volatility (6M) Calculated over the trailing 6-month period	7.16%	20.29%	-13.13%
Volatility (1Y) Calculated over the trailing 1-year period	10.50%	23.82%	-13.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.22%	25.52%	-11.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.52%	25.52%	-10.00%

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

SPX5.L has a 0.09% expense ratio, which is lower than GXLE.L's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SPX5.L vs. GXLE.L - Dividend Comparison

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

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GXLE.L SPDR S&P US Energy Select Sector 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

Can I hold both SPX5.L and GXLE.L in my portfolio?

SPX5.L and GXLE.L have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPX5.L or GXLE.L?

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.

Which ETF is cheaper, SPX5.L or GXLE.L?

SPX5.L is cheaper with a 0.09% expense ratio, compared with 0.15% for GXLE.L.

What is the main difference between SPX5.L and GXLE.L?

SPX5.L is categorized as S&P 500, while GXLE.L is Energy Equities. SPX5.L tracks S&P 500 Index, while GXLE.L tracks MSCI World/Energy NR USD. Their fees differ too: 0.09% for SPX5.L and 0.15% for GXLE.L.