SPXP.L vs. IB01.L
SPXP.L (Invesco S&P 500 UCITS ETF) and IB01.L (iShares USD Treasury Bond 0-1yr UCITS ETF (Acc)) are both exchange-traded funds - SPXP.L is a S&P 500 fund tracking the S&P 500 Index, while IB01.L is a Government Bonds fund tracking the ICE U.S. Treasury Short Bond Index. Both are passively managed. Over the past 5 years, SPXP.L returned -54.45%/yr vs 4.32%/yr for IB01.L. At a 0.18 correlation, their price movements are largely independent. SPXP.L charges 0.05%/yr vs 0.07%/yr for IB01.L.
Performance
SPXP.L vs. IB01.L - Performance Comparison
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Different Trading Currencies
SPXP.L is traded in GBp, while IB01.L is traded in USD. To make them comparable, the IB01.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, SPXP.L achieves a 10.63% return, which is significantly higher than IB01.L's 3.89% return.
SPXP.L
- 1D
- 0.80%
- 1M
- 1.16%
- YTD
- 10.63%
- 6M
- 10.85%
- 1Y
- -98.72%
- 3Y*
- -74.23%
- 5Y*
- -54.45%
- 10Y*
- -26.88%
IB01.L
- 1D
- 0.18%
- 1M
- 2.22%
- YTD
- 3.89%
- 6M
- 4.24%
- 1Y
- 7.30%
- 3Y*
- 3.45%
- 5Y*
- 4.32%
- 10Y*
- —
SPXP.L vs. IB01.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SPXP.L Invesco S&P 500 UCITS ETF | 10.63% | -98.90% | 27.58% | 20.06% | -8.79% | 31.26% | 13.90% | 16.67% |
IB01.L iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) | 3.89% | -3.10% | 7.09% | -0.32% | 13.10% | 0.08% | -2.08% | 0.44% |
Correlation
The correlation between SPXP.L and IB01.L is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2019 | 0.18 |
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Return for Risk
SPXP.L vs. IB01.L — Risk / Return Rank
SPXP.L
IB01.L
SPXP.L vs. IB01.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 USD Treasury Bond 0-1yr UCITS ETF (Acc) (IB01.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.
| SPXP.L | IB01.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.11 | ||
| Sortino ratioReturn per unit of downside risk | -2.37 | ||
| Omega ratioGain probability vs. loss probability | 0.52 | 1.20 | -0.68 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | 1.41 | -2.40 |
| Martin ratioReturn relative to average drawdown | -1.29 | 3.90 | -5.19 |
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Drawdowns
SPXP.L vs. IB01.L - Drawdown Comparison
The maximum SPXP.L drawdown since its inception was -99.07%, which is greater than IB01.L's maximum drawdown of -19.26%. Use the drawdown chart below to compare losses from any high point for SPXP.L and IB01.L.
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Drawdown Indicators
| SPXP.L | IB01.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.07% | -19.26% | -79.81% |
Max Drawdown (1Y)Largest decline over 1 year | -99.07% | -5.16% | -93.91% |
Max Drawdown (3Y)Largest decline over 3 years | -99.07% | -9.81% | -89.26% |
Max Drawdown (5Y)Largest decline over 5 years | -99.07% | -15.94% | -83.13% |
Max Drawdown (10Y)Largest decline over 10 years | -99.07% | — | — |
Current DrawdownCurrent decline from peak | -98.91% | -4.17% | -94.74% |
Average DrawdownAverage peak-to-trough decline | -8.23% | -9.43% | +1.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 76.64% | 1.87% | +74.77% |
Volatility
SPXP.L vs. IB01.L - Volatility Comparison
Invesco S&P 500 UCITS ETF (SPXP.L) has a higher volatility of 3.41% compared to iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) (IB01.L) at 1.55%. This indicates that SPXP.L's price experiences larger fluctuations and is considered to be riskier than IB01.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPXP.L | IB01.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.41% | 1.55% | +1.86% |
Volatility (6M)Calculated over the trailing 6-month period | 7.71% | 5.02% | +2.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 99.31% | 6.57% | +92.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 46.55% | 8.45% | +38.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.91% | 8.79% | +26.12% |
SPXP.L vs. IB01.L - Expense Ratio Comparison
SPXP.L has a 0.05% expense ratio, which is lower than IB01.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. IB01.L - Dividend Comparison
Neither SPXP.L nor IB01.L has paid dividends to shareholders.
Frequently Asked Questions
SPXP.L and IB01.L have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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 IB01.L.
SPXP.L is categorized as S&P 500, while IB01.L is Government Bonds. SPXP.L tracks S&P 500 Index, while IB01.L tracks ICE U.S. Treasury Short Bond Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.05% for SPXP.L and 0.07% for IB01.L.
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