SPXP.L vs. IESU.L
SPXP.L (Invesco S&P 500 UCITS ETF) and IESU.L (iShares S&P 500 Energy Sector UCITS ETF USD (Acc)) are both exchange-traded funds - SPXP.L is a S&P 500 fund tracking the S&P 500 Index, while IESU.L is a Energy Equities fund tracking the S&P 500 Capped 35/20 Energy Index NTR. Both are passively managed. Over the past 10 years, SPXP.L returned -27.63%/yr vs 8.50%/yr for IESU.L. At a 0.44 correlation, their price movements are largely independent. SPXP.L charges 0.05%/yr vs 0.15%/yr for IESU.L.
Performance
SPXP.L vs. IESU.L - Performance Comparison
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Returns By Period
In the year-to-date period, SPXP.L achieves a 9.05% return, which is significantly lower than IESU.L's 28.61% return. Over the past 10 years, SPXP.L has underperformed IESU.L with an annualized return of -27.63%, while IESU.L has yielded a comparatively higher 8.50% annualized return.
SPXP.L
- 1D
- -1.05%
- 1M
- -1.01%
- 6M
- 7.51%
- YTD
- 9.05%
- 1Y
- -98.80%
- 3Y*
- -74.49%
- 5Y*
- -54.80%
- 10Y*
- -27.63%
IESU.L
- 1D
- 1.07%
- 1M
- 4.80%
- 6M
- 20.56%
- YTD
- 28.61%
- 1Y
- 35.99%
- 3Y*
- 13.44%
- 5Y*
- 22.82%
- 10Y*
- 8.50%
SPXP.L vs. IESU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPXP.L Invesco S&P 500 UCITS ETF | 9.05% | -98.90% | 27.58% | 20.06% | -8.79% | 31.26% | 13.90% | 26.76% | 0.26% | 10.77% |
IESU.L iShares S&P 500 Energy Sector UCITS ETF USD (Acc) | 28.61% | 2.26% | 5.45% | -5.96% | 83.53% | 53.82% | -35.62% | 5.37% | -13.39% | -10.01% |
Correlation
The correlation between SPXP.L and IESU.L is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Nov 20, 2015 | 0.44 |
The correlation between SPXP.L and IESU.L shifts across timeframes, from -0.12 (1 year) to 0.44 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SPXP.L vs. IESU.L — Risk / Return Rank
SPXP.L
IESU.L
SPXP.L vs. IESU.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 Energy Sector UCITS ETF USD (Acc) (IESU.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 | IESU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.45 | ||
| Sortino ratioReturn per unit of downside risk | -2.71 | ||
| Omega ratioGain probability vs. loss probability | 0.49 | 1.26 | -0.78 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | 2.07 | -3.06 |
| Martin ratioReturn relative to average drawdown | -1.22 | 5.01 | -6.23 |
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Drawdowns
SPXP.L vs. IESU.L - Drawdown Comparison
The maximum SPXP.L drawdown since its inception was -99.07%, which is greater than IESU.L's maximum drawdown of -63.88%. Use the drawdown chart below to compare losses from any high point for SPXP.L and IESU.L.
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Drawdown Indicators
| SPXP.L | IESU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.07% | -63.88% | -35.19% |
Max Drawdown (1Y)Largest decline over 1 year | -99.07% | -17.34% | -81.73% |
Max Drawdown (3Y)Largest decline over 3 years | -99.07% | -26.36% | -72.71% |
Max Drawdown (5Y)Largest decline over 5 years | -99.07% | -26.36% | -72.71% |
Max Drawdown (10Y)Largest decline over 10 years | -99.07% | -62.16% | -36.91% |
Current DrawdownCurrent decline from peak | -98.93% | -10.65% | -88.28% |
Average DrawdownAverage peak-to-trough decline | -8.74% | -20.50% | +11.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 80.83% | 7.16% | +73.67% |
Volatility
SPXP.L vs. IESU.L - Volatility Comparison
The current volatility for Invesco S&P 500 UCITS ETF (SPXP.L) is 3.02%, while iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IESU.L) has a volatility of 7.50%. This indicates that SPXP.L experiences smaller price fluctuations and is considered to be less risky than IESU.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 | IESU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.02% | 7.50% | -4.48% |
Volatility (6M)Calculated over the trailing 6-month period | 7.86% | 21.74% | -13.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 99.30% | 24.54% | +74.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 46.54% | 29.08% | +17.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.89% | 29.16% | +5.73% |
SPXP.L vs. IESU.L - Expense Ratio Comparison
SPXP.L has a 0.05% expense ratio, which is lower than IESU.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. IESU.L - Dividend Comparison
Neither SPXP.L nor IESU.L has paid dividends to shareholders.
Frequently Asked Questions
SPXP.L and IESU.L have a correlation of -0.12, 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 0.15% for IESU.L.
SPXP.L is categorized as S&P 500, while IESU.L is Energy Equities. SPXP.L tracks S&P 500 Index, while IESU.L tracks S&P 500 Capped 35/20 Energy Index NTR. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.05% for SPXP.L and 0.15% for IESU.L.
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