SPXD.L vs. SPX5.L

Last updated Jul 16, 2026

SPXD.L (Invesco S&P 500 UCITS ETF Dist) and SPX5.L (SPDR S&P 500 UCITS ETF) are both S&P 500 funds tracking the S&P 500 Index, from Invesco and State Street respectively. Both are passively managed. Over the past 5 years, SPXD.L returned 13.25%/yr vs 13.15%/yr for SPX5.L. Their correlation of 0.93 suggests significant overlap in exposure. SPXD.L charges 0.05%/yr vs 0.03%/yr for SPX5.L.

Performance

SPXD.L vs. SPX5.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 SPDR S&P 500 UCITS ETF (SPX5.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

SPXD.L is traded in USD, while SPX5.L is traded in GBP. To make them comparable, the SPX5.L values have been converted to USD using the latest available exchange rates.

Returns By Period

The year-to-date returns for both investments are quite close, with SPXD.L having a 10.35% return and SPX5.L slightly higher at 10.65%.

SPXD.L

• 1D: 0.10%
• 1M: 0.03%
• 6M: 9.90%
• YTD: 10.35%
• 1Y: 21.87%
• 3Y*: 20.21%
• 5Y*: 13.25%
• 10Y*: —

SPX5.L

• 1D: 0.62%
• 1M: 0.56%
• 6M: 10.32%
• YTD: 10.65%
• 1Y: 22.27%
• 3Y*: 20.25%
• 5Y*: 13.15%
• 10Y*: 14.83%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
SPXD.L Invesco S&P 500 UCITS ETF Dist	10.35%	17.53%	25.57%	26.91%	-18.51%	29.66%	17.86%	14.06%
SPX5.L SPDR S&P 500 UCITS ETF	10.65%	17.59%	25.34%	26.07%	-18.73%	29.78%	17.00%	15.31%

Correlation

The correlation between SPXD.L and SPX5.L is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jun 7, 2019	0.93

The correlation between SPXD.L and SPX5.L has been stable across timeframes, ranging from 0.92 to 0.93 - a consistent structural relationship.

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

Sectors	SPXD.L	SPX5.L
Technology	39.0%	39.1%
Financial Services	11.1%	11.1%
Communication Services	10.6%	10.8%
Consumer Cyclical	9.9%	9.9%
Healthcare	8.3%	8.4%
Industrials	7.8%	7.8%
Consumer Defensive	4.5%	4.5%
Energy	3.1%	3.2%
Utilities	2.1%	2.1%
Real Estate	1.8%	1.8%
Basic Materials	1.7%	1.3%

Return for Risk

SPXD.L vs. SPX5.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: 70
SPXD.L Sharpe Ratio Rank: 70
SPXD.L Sortino Ratio Rank: 75
SPXD.L Omega Ratio Rank: 68
SPXD.L Calmar Ratio Rank: 65
SPXD.L Martin Ratio Rank: 73

SPX5.L

SPX5.L Risk / Return Rank: 73
SPX5.L Sharpe Ratio Rank: 75
SPX5.L Sortino Ratio Rank: 72
SPX5.L Omega Ratio Rank: 74
SPX5.L Calmar Ratio Rank: 72
SPX5.L Martin Ratio Rank: 72

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. SPX5.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 SPDR S&P 500 UCITS ETF (SPX5.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.

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.

	SPXD.L	SPX5.L	Difference
Sharpe ratio: Return per unit of total volatility	1.82	1.92	-0.10
Sortino ratio: Return per unit of downside risk	2.71	2.78	-0.08
Omega ratio: Gain probability vs. loss probability	1.33	1.34	-0.01
Calmar ratio: Return relative to maximum drawdown	2.61	2.57	+0.04
Martin ratio: Return relative to average drawdown	10.74	10.47	+0.27

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

The current SPXD.L Sharpe Ratio is 1.82, which is comparable to the SPX5.L Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of SPXD.L and SPX5.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.

Drawdowns

SPXD.L vs. SPX5.L - Drawdown Comparison

The maximum SPXD.L drawdown since its inception was -33.98%, smaller than the maximum SPX5.L drawdown of -42.43%. Use the drawdown chart below to compare losses from any high point for SPXD.L and SPX5.L.

Drawdown Indicators

	SPXD.L	SPX5.L	Difference
Max Drawdown Largest peak-to-trough decline	-33.98%	-42.43%	+8.45%
Max Drawdown (1Y) Largest decline over 1 year	-8.35%	-8.64%	+0.29%
Max Drawdown (3Y) Largest decline over 3 years	-18.30%	-18.43%	+0.13%
Max Drawdown (5Y) Largest decline over 5 years	-24.18%	-25.18%	+1.00%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.47%	—
Current Drawdown Current decline from peak	-0.60%	-0.19%	-0.41%
Average Drawdown Average peak-to-trough decline	-5.01%	-7.96%	+2.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.03%	2.12%	-0.09%

Volatility

SPXD.L vs. SPX5.L - Volatility Comparison

Invesco S&P 500 UCITS ETF Dist (SPXD.L) and SPDR S&P 500 UCITS ETF (SPX5.L) have volatilities of 2.98% and 3.10%, 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.

Volatility by Period

	SPXD.L	SPX5.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.98%	3.10%	-0.12%
Volatility (6M) Calculated over the trailing 6-month period	9.25%	8.62%	+0.63%
Volatility (1Y) Calculated over the trailing 1-year period	11.98%	11.54%	+0.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.93%	15.61%	+0.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.63%	16.03%	+1.60%

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

SPXD.L has a 0.05% expense ratio, which is higher than SPX5.L's 0.03% expense ratio. However, 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. SPX5.L - Dividend Comparison

SPXD.L's dividend yield for the trailing twelve months is around 1.11%, more than SPX5.L's 0.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPX5.L SPDR S&P 500 UCITS ETF	0.92%	0.98%	1.03%	1.21%	1.39%	0.98%	1.40%	1.48%	0.78%	1.19%	1.49%	1.68%
SPXD.L Invesco S&P 500 UCITS ETF Dist	1.11%	1.16%	1.31%	1.51%	1.68%	1.30%	1.52%	1.41%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

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

With a correlation of 0.92, SPXD.L and SPX5.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.

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

On fees, SPX5.L is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

SPX5.L is cheaper with a 0.03% expense ratio, compared with 0.05% for SPXD.L.

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

Both ETFs track S&P 500 Index. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.05% for SPXD.L and 0.03% for SPX5.L.