PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
SPXP.L vs. I500.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SPXP.L vs. I500.L

Last updated Jun 5, 2026

SPXP.L (Invesco S&P 500 UCITS ETF) and I500.L (iShares S&P 500 Swap UCITS ETF) are both S&P 500 funds - SPXP.L tracks the S&P 500 Index while I500.L tracks the S&P 500 Net Dividends Reinvested Index (Net USD). Both are passively managed. Over the past 5 years, SPXP.L returned 15.15%/yr vs 15.15%/yr for I500.L. With a 1.00 correlation, they move nearly in lockstep. SPXP.L charges 0.05%/yr vs 0.07%/yr for I500.L.

Performance

SPXP.L vs. I500.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 iShares S&P 500 Swap UCITS ETF (I500.L). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Different Trading Currencies

SPXP.L is traded in GBp, while I500.L is traded in GBP. To make them comparable, the I500.L 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 10.55% return and I500.L slightly higher at 10.61%.

SPXP.L

1D
0.00%
1M
5.53%
YTD
10.55%
6M
10.49%
1Y
29.25%
3Y*
19.21%
5Y*
15.15%
10Y*
16.32%

I500.L

1D
0.05%
1M
5.52%
YTD
10.61%
6M
10.52%
1Y
29.34%
3Y*
19.22%
5Y*
15.15%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

SPXP.L vs. I500.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
SPXP.L
Invesco S&P 500 UCITS ETF		10.55%9.53%27.58%20.06%-8.79%31.26%5.69%
I500.L
iShares S&P 500 Swap UCITS ETF		10.61%9.56%27.57%20.04%-8.74%31.23%5.72%

Correlation

The correlation between SPXP.L and I500.L is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

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

0.99

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

1.00

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

1.00

Correlation (All Time)
Calculated using the full available price history since Sep 30, 2020

1.00

The correlation between SPXP.L and I500.L has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.

SPXP.L vs. I500.L - Sectors Allocation Comparison

Sectors
SPXP.L
I500.L

Technology

35.6%
35.6%

Financial Services

11.8%
11.8%

Communication Services

11.2%
11.2%

Consumer Cyclical

10.1%
10.1%

Healthcare

8.5%
8.5%

Industrials

8.3%
8.3%

Consumer Defensive

4.9%
4.9%

Energy

3.5%
3.5%

Utilities

2.4%
2.4%

Real Estate

1.9%
1.9%

Basic Materials

1.8%
1.8%

Technology

SPXP.L
35.6%
I500.L
35.6%

Financial Services

SPXP.L
11.8%
I500.L
11.8%

Communication Services

SPXP.L
11.2%
I500.L
11.2%

Consumer Cyclical

SPXP.L
10.1%
I500.L
10.1%

Healthcare

SPXP.L
8.5%
I500.L
8.5%

Industrials

SPXP.L
8.3%
I500.L
8.3%

Consumer Defensive

SPXP.L
4.9%
I500.L
4.9%

Energy

SPXP.L
3.5%
I500.L
3.5%

Utilities

SPXP.L
2.4%
I500.L
2.4%

Real Estate

SPXP.L
1.9%
I500.L
1.9%

Basic Materials

SPXP.L
1.8%
I500.L
1.8%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco S&P 500 UCITS ETF

iShares S&P 500 Swap UCITS ETF

Often compared with SPXP.L:
SPXP.L vs. VUAG.LSPXP.L vs. CSPX.LSPXP.L vs. SPXSSPXP.L vs. VOOSPXP.L vs. SPX5.LSPXP.L vs. SMT.LSPXP.L vs. SPXD.L
Often compared with I500.L:
I500.L vs. CSPX.LI500.L vs. CSP1.LI500.L vs. VUAG.LI500.L vs. VUAA.LI500.L vs. HSPX.LI500.L vs. VOOI500.L vs. NASL.L

Return for Risk

SPXP.L vs. I500.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: 8383
Overall Rank
SPXP.L Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
SPXP.L Sortino Ratio Rank: 8484
Sortino Ratio Rank
SPXP.L Omega Ratio Rank: 8686
Omega Ratio Rank
SPXP.L Calmar Ratio Rank: 8080
Calmar Ratio Rank
SPXP.L Martin Ratio Rank: 7979
Martin Ratio Rank
I500.L
I500.L Risk / Return Rank: 8383
Overall Rank
I500.L Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
I500.L Sortino Ratio Rank: 8585
Sortino Ratio Rank
I500.L Omega Ratio Rank: 8686
Omega Ratio Rank
I500.L Calmar Ratio Rank: 8080
Calmar Ratio Rank
I500.L Martin Ratio Rank: 7979
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.

SPXP.L vs. I500.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 iShares S&P 500 Swap UCITS ETF (I500.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.LI500.LDifference
Sharpe ratioReturn per unit of total volatility
2.78
2.81

-0.03

Sortino ratioReturn per unit of downside risk
3.71
3.77

-0.06

Omega ratioGain probability vs. loss probability

1.52

1.52

0.00

Calmar ratioReturn relative to maximum drawdown

4.11

4.13

-0.02

Martin ratioReturn relative to average drawdown

15.13

15.23

-0.10

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. I500.L - Sharpe Ratio Comparison

The current SPXP.L Sharpe Ratio is 2.78, which is comparable to the I500.L Sharpe Ratio of 2.81. The chart below compares the historical Sharpe Ratios of SPXP.L and I500.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.

Loading charts...

Sharpe Ratios by Period

SPXP.LI500.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.78

2.81

-0.03

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.06

1.07

0.00

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

1.13

+0.02

Drawdowns

SPXP.L vs. I500.L - Drawdown Comparison

The maximum SPXP.L drawdown since its inception was -25.46%, which is greater than I500.L's maximum drawdown of -20.75%. Use the drawdown chart below to compare losses from any high point for SPXP.L and I500.L.

Loading charts...

Drawdown Indicators

SPXP.LI500.LDifference

Max Drawdown

Largest peak-to-trough decline

-25.46%

-20.75%

-4.71%

Max Drawdown (1Y)

Largest decline over 1 year

-7.09%

-7.08%

-0.01%

Max Drawdown (3Y)

Largest decline over 3 years

-20.77%

-20.75%

-0.02%

Max Drawdown (5Y)

Largest decline over 5 years

-20.77%

-20.75%

-0.02%

Max Drawdown (10Y)

Largest decline over 10 years

-25.46%

—

—

Current Drawdown

Current decline from peak

-0.21%

-0.23%

+0.02%

Average Drawdown

Average peak-to-trough decline

-3.50%

-3.35%

-0.15%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.93%

1.92%

+0.01%

Volatility

SPXP.L vs. I500.L - Volatility Comparison

Invesco S&P 500 UCITS ETF (SPXP.L) and iShares S&P 500 Swap UCITS ETF (I500.L) have volatilities of 2.65% and 2.59%, 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.

Loading charts...

Volatility by Period

SPXP.LI500.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.65%

2.59%

+0.06%

Volatility (6M)

Calculated over the trailing 6-month period

7.24%

7.12%

+0.12%

Volatility (1Y)

Calculated over the trailing 1-year period

10.49%

10.40%

+0.09%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.23%

14.21%

+0.02%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.22%

14.30%

+1.92%

SPXP.L vs. I500.L - Expense Ratio Comparison

SPXP.L has a 0.05% expense ratio, which is lower than I500.L's 0.07% 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. I500.L - Dividend Comparison

Neither SPXP.L nor I500.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

With a correlation of 0.99, SPXP.L and I500.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.

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.

SPXP.L is cheaper with a 0.05% expense ratio, compared with 0.07% for I500.L.

SPXP.L tracks S&P 500 Index, while I500.L tracks S&P 500 Net Dividends Reinvested Index (Net USD). They also come from different issuers: Invesco and iShares. Their fees differ too: 0.05% for SPXP.L and 0.07% for I500.L.

Portfolio Optimizer

Find the right allocation for SPXP.L and I500.L

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