SPXP.L vs. FTWG.L

Last updated Jun 4, 2026

SPXP.L (Invesco S&P 500 UCITS ETF) and FTWG.L (Invesco FTSE All-World UCITS ETF USD Dist) are both exchange-traded funds - SPXP.L is a S&P 500 fund tracking the S&P 500 Index, while FTWG.L is a Global Equities fund tracking the FTSE All-World Index. Both are passively managed. Over the past year, SPXP.L returned 29.27% vs 30.40% for FTWG.L. Their correlation of 0.92 suggests significant overlap in exposure. SPXP.L charges 0.05%/yr vs 0.15%/yr for FTWG.L.

Performance

SPXP.L vs. FTWG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco S&P 500 UCITS ETF (SPXP.L) and Invesco FTSE All-World UCITS ETF USD Dist (FTWG.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPXP.L achieves a 10.55% return, which is significantly lower than FTWG.L's 11.90% return.

SPXP.L

• 1D: -0.21%
• 1M: 5.93%
• YTD: 10.55%
• 6M: 10.60%
• 1Y: 29.27%
• 3Y*: 19.50%
• 5Y*: 15.15%
• 10Y*: 16.32%

FTWG.L

• 1D: -0.39%
• 1M: 5.92%
• YTD: 11.90%
• 6M: 12.72%
• 1Y: 30.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPXP.L vs. FTWG.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SPXP.L Invesco S&P 500 UCITS ETF	10.55%	9.53%	27.58%	8.71%
FTWG.L Invesco FTSE All-World UCITS ETF USD Dist	11.90%	14.12%	19.92%	7.22%

Correlation

The correlation between SPXP.L and FTWG.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 (All Time) Calculated using the full available price history since Jun 30, 2023	0.92

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

SPXP.L vs. FTWG.L - Sectors Allocation Comparison

Sectors	SPXP.L	FTWG.L
Technology	35.6%	29.1%
Financial Services	11.8%	16.4%
Communication Services	11.2%	8.9%
Consumer Cyclical	10.1%	9.4%
Healthcare	8.5%	7.6%
Industrials	8.3%	11.0%
Consumer Defensive	4.9%	5.0%
Energy	3.5%	4.3%
Utilities	2.4%	2.6%
Real Estate	1.9%	1.9%
Basic Materials	1.8%	3.9%

Return for Risk

SPXP.L vs. FTWG.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SPXP.L

SPXP.L Risk / Return Rank: 81
SPXP.L Sharpe Ratio Rank: 84
SPXP.L Sortino Ratio Rank: 81
SPXP.L Omega Ratio Rank: 84
SPXP.L Calmar Ratio Rank: 79
SPXP.L Martin Ratio Rank: 77

FTWG.L

FTWG.L Risk / Return Rank: 85
FTWG.L Sharpe Ratio Rank: 87
FTWG.L Sortino Ratio Rank: 87
FTWG.L Omega Ratio Rank: 88
FTWG.L Calmar Ratio Rank: 81
FTWG.L Martin Ratio Rank: 84

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.

SPXP.L vs. FTWG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 UCITS ETF (SPXP.L) and Invesco FTSE All-World UCITS ETF USD Dist (FTWG.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.

	SPXP.L	FTWG.L	Difference
Sharpe ratio: Return per unit of total volatility	2.78	2.94	-0.17
Sortino ratio: Return per unit of downside risk	3.72	4.04	-0.33
Omega ratio: Gain probability vs. loss probability	1.52	1.56	-0.04
Calmar ratio: Return relative to maximum drawdown	4.11	4.26	-0.15
Martin ratio: Return relative to average drawdown	15.14	17.35	-2.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPXP.L vs. FTWG.L - Sharpe Ratio Comparison

The current SPXP.L Sharpe Ratio is 2.78, which is comparable to the FTWG.L Sharpe Ratio of 2.94. The chart below compares the historical Sharpe Ratios of SPXP.L and FTWG.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

	SPXP.L	FTWG.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.78	2.94	-0.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.06	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.10	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.15	1.55	-0.40

Drawdowns

SPXP.L vs. FTWG.L - Drawdown Comparison

The maximum SPXP.L drawdown since its inception was -25.46%, which is greater than FTWG.L's maximum drawdown of -17.78%. Use the drawdown chart below to compare losses from any high point for SPXP.L and FTWG.L.

Drawdown Indicators

	SPXP.L	FTWG.L	Difference
Max Drawdown Largest peak-to-trough decline	-25.46%	-17.78%	-7.68%
Max Drawdown (1Y) Largest decline over 1 year	-7.09%	-7.11%	+0.02%
Max Drawdown (3Y) Largest decline over 3 years	-20.77%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-20.77%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-25.46%	—	—
Current Drawdown Current decline from peak	-0.21%	-0.39%	+0.18%
Average Drawdown Average peak-to-trough decline	-3.50%	-1.99%	-1.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.93%	1.75%	+0.18%

Volatility

SPXP.L vs. FTWG.L - Volatility Comparison

The current volatility for Invesco S&P 500 UCITS ETF (SPXP.L) is 2.64%, while Invesco FTSE All-World UCITS ETF USD Dist (FTWG.L) has a volatility of 3.03%. This indicates that SPXP.L experiences smaller price fluctuations and is considered to be less risky than FTWG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPXP.L	FTWG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.64%	3.03%	-0.39%
Volatility (6M) Calculated over the trailing 6-month period	7.24%	7.59%	-0.35%
Volatility (1Y) Calculated over the trailing 1-year period	10.56%	10.31%	+0.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.23%	11.90%	+2.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.22%	11.90%	+4.32%

SPXP.L vs. FTWG.L - Expense Ratio Comparison

SPXP.L has a 0.05% expense ratio, which is lower than FTWG.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

SPXP.L vs. FTWG.L - Dividend Comparison

SPXP.L has not paid dividends to shareholders, while FTWG.L's dividend yield for the trailing twelve months is around 1.21%.

Position	TTM	2025	2024	2023
FTWG.L Invesco FTSE All-World UCITS ETF USD Dist	1.21%	1.34%	1.50%	0.70%
SPXP.L Invesco S&P 500 UCITS ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPXP.L and FTWG.L in my portfolio?

With a correlation of 0.92, SPXP.L and FTWG.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, SPXP.L or FTWG.L?

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

Which ETF is cheaper, SPXP.L or FTWG.L?

SPXP.L is cheaper with a 0.05% expense ratio, compared with 0.15% for FTWG.L.

What is the main difference between SPXP.L and FTWG.L?

SPXP.L is categorized as S&P 500, while FTWG.L is Global Equities. SPXP.L tracks S&P 500 Index, while FTWG.L tracks FTSE All-World Index. Their fees differ too: 0.05% for SPXP.L and 0.15% for FTWG.L.