SPXP.L vs. ^GSPC
SPXP.L (Invesco S&P 500 UCITS ETF) is S&P 500 fund tracking the S&P 500 Index, while ^GSPC (S&P 500 Index) is an index. Over the past 10 years, SPXP.L returned -27.50%/yr vs 13.06%/yr for ^GSPC. A 0.61 correlation means they provide meaningful diversification when combined.
Performance
SPXP.L vs. ^GSPC - Performance Comparison
Loading charts...
Different Trading Currencies
SPXP.L is traded in GBp, while ^GSPC is traded in USD. To make them comparable, the ^GSPC values have been converted to GBp using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with SPXP.L having a 10.10% return and ^GSPC slightly higher at 10.17%. Over the past 10 years, SPXP.L has underperformed ^GSPC with an annualized return of -27.50%, while ^GSPC has yielded a comparatively higher 13.06% annualized return.
SPXP.L
- 1D
- -0.46%
- 1M
- -0.34%
- 6M
- 9.72%
- YTD
- 10.10%
- 1Y
- -98.79%
- 3Y*
- -74.34%
- 5Y*
- -54.72%
- 10Y*
- -27.50%
^GSPC
- 1D
- -0.66%
- 1M
- -0.64%
- 6M
- 8.66%
- YTD
- 10.17%
- 1Y
- 19.99%
- 3Y*
- 17.60%
- 5Y*
- 12.23%
- 10Y*
- 13.06%
SPXP.L vs. ^GSPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPXP.L Invesco S&P 500 UCITS ETF | 10.10% | -98.90% | 27.58% | 20.06% | -8.79% | 31.26% | 13.90% | 26.76% | 0.26% | 10.77% |
^GSPC S&P 500 Index | 10.17% | 8.10% | 25.46% | 18.02% | -9.86% | 28.09% | 12.84% | 23.98% | -0.68% | 9.09% |
Correlation
The correlation between SPXP.L and ^GSPC is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2014 | 0.61 |
The correlation between SPXP.L and ^GSPC has been stable across timeframes, ranging from 0.58 to 0.67 - 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
SPXP.L vs. ^GSPC — Risk / Return Rank
SPXP.L
^GSPC
SPXP.L vs. ^GSPC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 UCITS ETF (SPXP.L) and S&P 500 Index (^GSPC). 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.
| SPXP.L | ^GSPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.66 | ||
| Sortino ratioReturn per unit of downside risk | -3.02 | ||
| Omega ratioGain probability vs. loss probability | 0.49 | 1.31 | -0.82 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | 2.50 | -3.50 |
| Martin ratioReturn relative to average drawdown | -1.23 | 9.11 | -10.34 |
Loading charts...
Drawdowns
SPXP.L vs. ^GSPC - Drawdown Comparison
The maximum SPXP.L drawdown since its inception was -99.07%, which is greater than ^GSPC's maximum drawdown of -37.07%. Use the drawdown chart below to compare losses from any high point for SPXP.L and ^GSPC.
Loading charts...
Drawdown Indicators
| SPXP.L | ^GSPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.07% | -37.07% | -62.00% |
Max Drawdown (1Y)Largest decline over 1 year | -99.07% | -8.03% | -91.04% |
Max Drawdown (3Y)Largest decline over 3 years | -99.07% | -22.15% | -76.92% |
Max Drawdown (5Y)Largest decline over 5 years | -99.07% | -22.15% | -76.92% |
Max Drawdown (10Y)Largest decline over 10 years | -99.07% | -26.01% | -73.06% |
Current DrawdownCurrent decline from peak | -98.92% | -1.42% | -97.50% |
Average DrawdownAverage peak-to-trough decline | -8.68% | -5.29% | -3.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 80.35% | 2.20% | +78.15% |
Volatility
SPXP.L vs. ^GSPC - Volatility Comparison
The current volatility for Invesco S&P 500 UCITS ETF (SPXP.L) is 2.93%, while S&P 500 Index (^GSPC) has a volatility of 3.38%. This indicates that SPXP.L experiences smaller price fluctuations and is considered to be less risky than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SPXP.L | ^GSPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.93% | 3.38% | -0.45% |
Volatility (6M)Calculated over the trailing 6-month period | 7.90% | 9.00% | -1.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 99.31% | 12.03% | +87.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 46.56% | 15.96% | +30.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.90% | 18.05% | +16.85% |
Frequently Asked Questions
SPXP.L and ^GSPC have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Find the right allocation for SPXP.L and ^GSPC
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