SPXS.L vs. FTWG.L
SPXS.L (Invesco S&P 500 UCITS ETF) and FTWG.L (Invesco FTSE All-World UCITS ETF USD Dist) are both Global Equities funds from Invesco - SPXS.L tracks the Invesco S&P 500 UCITS ETF while FTWG.L tracks the FTSE All-World Index. Both are passively managed. Over the past 3 years, SPXS.L returned -74.11%/yr vs 19.25%/yr for FTWG.L. Their correlation of 0.86 suggests significant overlap in exposure. SPXS.L charges 0.05%/yr vs 0.15%/yr for FTWG.L.
Performance
SPXS.L vs. FTWG.L - Performance Comparison
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Different Trading Currencies
SPXS.L is traded in USD, while FTWG.L is traded in GBp. To make them comparable, the FTWG.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, SPXS.L achieves a 10.20% return, which is significantly lower than FTWG.L's 11.46% return.
SPXS.L
- 1D
- -0.12%
- 1M
- -0.05%
- 6M
- 9.96%
- YTD
- 10.20%
- 1Y
- -98.78%
- 3Y*
- -74.11%
- 5Y*
- -54.94%
- 10Y*
- -27.39%
FTWG.L
- 1D
- 0.46%
- 1M
- -0.26%
- 6M
- 9.89%
- YTD
- 11.46%
- 1Y
- 24.22%
- 3Y*
- 19.25%
- 5Y*
- —
- 10Y*
- —
SPXS.L vs. FTWG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SPXS.L Invesco S&P 500 UCITS ETF | 10.20% | -98.82% | 25.56% | 10.97% |
FTWG.L Invesco FTSE All-World UCITS ETF USD Dist | 11.46% | 22.73% | 17.92% | -13.58% |
Correlation
The correlation between SPXS.L and FTWG.L is 0.88, 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 | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2023 | 0.86 |
The correlation between SPXS.L and FTWG.L has been stable across timeframes, ranging from 0.86 to 0.88 - a consistent structural relationship.
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Return for Risk
SPXS.L vs. FTWG.L — Risk / Return Rank
SPXS.L
FTWG.L
SPXS.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 (SPXS.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.
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.
| SPXS.L | FTWG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.96 | ||
| Sortino ratioReturn per unit of downside risk | -3.65 | ||
| Omega ratioGain probability vs. loss probability | 0.52 | 1.35 | -0.83 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | 2.62 | -3.62 |
| Martin ratioReturn relative to average drawdown | -1.23 | 10.87 | -12.10 |
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Drawdowns
SPXS.L vs. FTWG.L - Drawdown Comparison
The maximum SPXS.L drawdown since its inception was -99.07%, which is greater than FTWG.L's maximum drawdown of -25.84%. Use the drawdown chart below to compare losses from any high point for SPXS.L and FTWG.L.
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Drawdown Indicators
| SPXS.L | FTWG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.07% | -25.84% | -73.23% |
Max Drawdown (1Y)Largest decline over 1 year | -99.07% | -9.20% | -89.87% |
Max Drawdown (3Y)Largest decline over 3 years | -99.07% | -16.89% | -82.18% |
Max Drawdown (5Y)Largest decline over 5 years | -99.07% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -99.07% | — | — |
Current DrawdownCurrent decline from peak | -98.90% | -0.85% | -98.05% |
Average DrawdownAverage peak-to-trough decline | -7.67% | -6.28% | -1.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 80.57% | 2.22% | +78.35% |
Volatility
SPXS.L vs. FTWG.L - Volatility Comparison
The current volatility for Invesco S&P 500 UCITS ETF (SPXS.L) is 2.73%, while Invesco FTSE All-World UCITS ETF USD Dist (FTWG.L) has a volatility of 3.43%. This indicates that SPXS.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.
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Volatility by Period
| SPXS.L | FTWG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.73% | 3.43% | -0.70% |
Volatility (6M)Calculated over the trailing 6-month period | 9.24% | 9.88% | -0.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 99.43% | 12.26% | +87.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.13% | 17.60% | +29.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.27% | 17.60% | +17.67% |
SPXS.L vs. FTWG.L - Expense Ratio Comparison
SPXS.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
SPXS.L vs. FTWG.L - Dividend Comparison
SPXS.L has not paid dividends to shareholders, while FTWG.L's dividend yield for the trailing twelve months is around 1.26%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
FTWG.L Invesco FTSE All-World UCITS ETF USD Dist | 1.26% | 1.34% | 1.50% | 0.70% |
SPXS.L Invesco S&P 500 UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SPXS.L and FTWG.L have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPXS.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPXS.L is cheaper with a 0.05% expense ratio, compared with 0.15% for FTWG.L.
SPXS.L tracks Invesco S&P 500 UCITS ETF, while FTWG.L tracks FTSE All-World Index. Their fees differ too: 0.05% for SPXS.L and 0.15% for FTWG.L.
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