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SPXD.L vs. IUES.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SPXD.L vs. IUES.L

Last updated Jun 5, 2026

SPXD.L (Invesco S&P 500 UCITS ETF Dist) and IUES.L (iShares S&P 500 Energy Sector UCITS ETF USD (Acc)) are both exchange-traded funds - SPXD.L is a S&P 500 fund tracking the S&P 500 Index, while IUES.L is a Energy Equities fund tracking the MSCI World/Energy NR USD. Both are passively managed. Over the past 5 years, SPXD.L returned 13.92%/yr vs 20.33%/yr for IUES.L. At a 0.39 correlation, their price movements are largely independent. SPXD.L charges 0.05%/yr vs 0.15%/yr for IUES.L.

Performance

SPXD.L vs. IUES.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 UCITS ETF Dist (SPXD.L) and iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IUES.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, SPXD.L achieves a 10.44% return, which is significantly lower than IUES.L's 30.45% return.

SPXD.L

1D
-0.02%
1M
4.50%
YTD
10.44%
6M
11.25%
1Y
27.99%
3Y*
22.39%
5Y*
13.92%
10Y*
—

IUES.L

1D
-0.36%
1M
-1.09%
YTD
30.45%
6M
29.22%
1Y
46.28%
3Y*
16.84%
5Y*
20.33%
10Y*
9.21%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SPXD.L vs. IUES.L - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
SPXD.L
Invesco S&P 500 UCITS ETF Dist		10.44%17.53%25.57%26.91%-18.50%29.67%17.90%13.21%
IUES.L
iShares S&P 500 Energy Sector UCITS ETF USD (Acc)		30.45%9.82%3.87%-0.63%63.84%51.95%-33.35%2.72%

Correlation

The correlation between SPXD.L and IUES.L is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

-0.11

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

0.18

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

0.31

Correlation (All Time)
Calculated using the full available price history since Jun 10, 2019

0.39

The correlation between SPXD.L and IUES.L shifts across timeframes, from -0.11 (1 year) to 0.39 (all time), reflecting how their relationship changes across market environments.

SPXD.L vs. IUES.L - Sectors Allocation Comparison

Sectors
SPXD.L
IUES.L

Technology

35.6%

-

Financial Services

11.8%

-

Communication Services

11.2%

-

Consumer Cyclical

10.1%

-

Healthcare

8.5%

-

Industrials

8.3%

-

Consumer Defensive

4.9%

-

Energy

3.5%
100.0%

Utilities

2.4%

-

Real Estate

1.9%

-

Basic Materials

1.8%

-

Technology

SPXD.L
35.6%
IUES.L

-

Financial Services

SPXD.L
11.8%
IUES.L

-

Communication Services

SPXD.L
11.2%
IUES.L

-

Consumer Cyclical

SPXD.L
10.1%
IUES.L

-

Healthcare

SPXD.L
8.5%
IUES.L

-

Industrials

SPXD.L
8.3%
IUES.L

-

Consumer Defensive

SPXD.L
4.9%
IUES.L

-

Energy

SPXD.L
3.5%
IUES.L
100.0%

Utilities

SPXD.L
2.4%
IUES.L

-

Real Estate

SPXD.L
1.9%
IUES.L

-

Basic Materials

SPXD.L
1.8%
IUES.L

-

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Invesco S&P 500 UCITS ETF Dist

iShares S&P 500 Energy Sector UCITS ETF USD (Acc)

Often compared with SPXD.L:
SPXD.L vs. CSPX.LSPXD.L vs. SPXP.LSPXD.L vs. FBCVXSPXD.L vs. SPYSPXD.L vs. VOOSPXD.L vs. D5BM.DESPXD.L vs. SPPY.DE
Often compared with IUES.L:
IUES.L vs. XLEIUES.L vs. IXCIUES.L vs. CSPX.LIUES.L vs. WENS.LIUES.L vs. VUAA.LIUES.L vs. RSPGIUES.L vs. VWRA.L

Return for Risk

SPXD.L vs. IUES.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SPXD.L
SPXD.L Risk / Return Rank: 7575
Overall Rank
SPXD.L Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
SPXD.L Sortino Ratio Rank: 7979
Sortino Ratio Rank
SPXD.L Omega Ratio Rank: 7575
Omega Ratio Rank
SPXD.L Calmar Ratio Rank: 6767
Calmar Ratio Rank
SPXD.L Martin Ratio Rank: 7777
Martin Ratio Rank
IUES.L
IUES.L Risk / Return Rank: 6060
Overall Rank
IUES.L Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
IUES.L Sortino Ratio Rank: 5656
Sortino Ratio Rank
IUES.L Omega Ratio Rank: 5959
Omega Ratio Rank
IUES.L Calmar Ratio Rank: 6565
Calmar Ratio Rank
IUES.L Martin Ratio Rank: 5757
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.

SPXD.L vs. IUES.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 UCITS ETF Dist (SPXD.L) and iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IUES.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.

SPXD.LIUES.LDifference
Sharpe ratioReturn per unit of total volatility
2.41
2.12

+0.29

Sortino ratioReturn per unit of downside risk
3.50
2.64

+0.86

Omega ratioGain probability vs. loss probability

1.44

1.35

+0.08

Calmar ratioReturn relative to maximum drawdown

3.31

3.18

+0.13

Martin ratioReturn relative to average drawdown

14.56

9.97

+4.59

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

SPXD.L vs. IUES.L - Sharpe Ratio Comparison

The current SPXD.L Sharpe Ratio is 2.41, which is comparable to the IUES.L Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of SPXD.L and IUES.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

SPXD.LIUES.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.41

2.12

+0.29

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.88

0.76

+0.12

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.32

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.93

0.31

+0.62

Drawdowns

SPXD.L vs. IUES.L - Drawdown Comparison

The maximum SPXD.L drawdown since its inception was -33.98%, smaller than the maximum IUES.L drawdown of -66.78%. Use the drawdown chart below to compare losses from any high point for SPXD.L and IUES.L.

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Drawdown Indicators

SPXD.LIUES.LDifference

Max Drawdown

Largest peak-to-trough decline

-33.98%

-66.78%

+32.80%

Max Drawdown (1Y)

Largest decline over 1 year

-8.35%

-14.49%

+6.14%

Max Drawdown (3Y)

Largest decline over 3 years

-18.29%

-20.90%

+2.61%

Max Drawdown (5Y)

Largest decline over 5 years

-24.17%

-27.98%

+3.81%

Max Drawdown (10Y)

Largest decline over 10 years

—

-66.78%

—

Current Drawdown

Current decline from peak

-0.51%

-7.45%

+6.94%

Average Drawdown

Average peak-to-trough decline

-5.06%

-14.21%

+9.15%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.91%

4.63%

-2.72%

Volatility

SPXD.L vs. IUES.L - Volatility Comparison

The current volatility for Invesco S&P 500 UCITS ETF Dist (SPXD.L) is 3.10%, while iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IUES.L) has a volatility of 8.13%. This indicates that SPXD.L experiences smaller price fluctuations and is considered to be less risky than IUES.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SPXD.LIUES.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.10%

8.13%

-5.03%

Volatility (6M)

Calculated over the trailing 6-month period

8.44%

18.58%

-10.14%

Volatility (1Y)

Calculated over the trailing 1-year period

11.46%

21.81%

-10.35%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.83%

26.72%

-10.89%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.70%

28.49%

-10.79%

SPXD.L vs. IUES.L - Expense Ratio Comparison

SPXD.L has a 0.05% expense ratio, which is lower than IUES.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

SPXD.L vs. IUES.L - Dividend Comparison

SPXD.L's dividend yield for the trailing twelve months is around 1.08%, while IUES.L has not paid dividends to shareholders.

PositionTTM2025202420232022202120202019
IUES.L
iShares S&P 500 Energy Sector UCITS ETF USD (Acc)		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
SPXD.L
Invesco S&P 500 UCITS ETF Dist		1.08%1.16%1.31%1.51%1.68%1.30%1.55%1.87%

Frequently Asked Questions

SPXD.L and IUES.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, SPXD.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

SPXD.L is cheaper with a 0.05% expense ratio, compared with 0.15% for IUES.L.

SPXD.L is categorized as S&P 500, while IUES.L is Energy Equities. SPXD.L tracks S&P 500 Index, while IUES.L tracks MSCI World/Energy NR USD. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.05% for SPXD.L and 0.15% for IUES.L.

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