SPXS.L vs. G500.L
SPXS.L (Invesco S&P 500 UCITS ETF) and G500.L (Invesco S&P 500 UCITS ETF (GBP Hdg)) are both Global Equities funds from Invesco - SPXS.L tracks the Invesco S&P 500 UCITS ETF while G500.L tracks the Invesco S&P 500 UCITS ETF (GBP Hdg). Both are passively managed. Over the past 5 years, SPXS.L returned -54.94%/yr vs 11.80%/yr for G500.L. Their correlation of 0.88 suggests significant overlap in exposure. Both charge a 0.05% expense ratio.
Performance
SPXS.L vs. G500.L - Performance Comparison
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Different Trading Currencies
SPXS.L is traded in USD, while G500.L is traded in GBp. To make them comparable, the G500.L values have been converted to USD using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with SPXS.L having a 10.20% return and G500.L slightly higher at 10.60%.
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%
G500.L
- 1D
- 0.00%
- 1M
- 0.92%
- 6M
- 10.32%
- YTD
- 10.60%
- 1Y
- 22.54%
- 3Y*
- 21.04%
- 5Y*
- 11.80%
- 10Y*
- —
SPXS.L vs. G500.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SPXS.L Invesco S&P 500 UCITS ETF | 10.20% | -98.82% | 25.56% | 27.00% | -18.53% | 29.64% | 23.80% |
G500.L Invesco S&P 500 UCITS ETF (GBP Hdg) | 10.60% | 26.32% | 22.89% | 31.47% | -28.53% | 27.78% | 32.88% |
Correlation
The correlation between SPXS.L and G500.L is 0.90, 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 | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2020 | 0.88 |
The correlation between SPXS.L and G500.L has been stable across timeframes, ranging from 0.88 to 0.90 - a consistent structural relationship.
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Return for Risk
SPXS.L vs. G500.L — Risk / Return Rank
SPXS.L
G500.L
SPXS.L vs. G500.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 S&P 500 UCITS ETF (GBP Hdg) (G500.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 | G500.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.52 | ||
| Sortino ratioReturn per unit of downside risk | -3.08 | ||
| Omega ratioGain probability vs. loss probability | 0.52 | 1.27 | -0.75 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | 1.82 | -2.82 |
| Martin ratioReturn relative to average drawdown | -1.23 | 6.85 | -8.08 |
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Drawdowns
SPXS.L vs. G500.L - Drawdown Comparison
The maximum SPXS.L drawdown since its inception was -99.07%, which is greater than G500.L's maximum drawdown of -39.54%. Use the drawdown chart below to compare losses from any high point for SPXS.L and G500.L.
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Drawdown Indicators
| SPXS.L | G500.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.07% | -39.54% | -59.53% |
Max Drawdown (1Y)Largest decline over 1 year | -99.07% | -12.56% | -86.51% |
Max Drawdown (3Y)Largest decline over 3 years | -99.07% | -17.75% | -81.32% |
Max Drawdown (5Y)Largest decline over 5 years | -99.07% | -39.54% | -59.53% |
Max Drawdown (10Y)Largest decline over 10 years | -99.07% | — | — |
Current DrawdownCurrent decline from peak | -98.90% | -0.10% | -98.80% |
Average DrawdownAverage peak-to-trough decline | -7.67% | -8.08% | +0.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 80.57% | 3.34% | +77.23% |
Volatility
SPXS.L vs. G500.L - Volatility Comparison
The current volatility for Invesco S&P 500 UCITS ETF (SPXS.L) is 2.73%, while Invesco S&P 500 UCITS ETF (GBP Hdg) (G500.L) has a volatility of 3.57%. This indicates that SPXS.L experiences smaller price fluctuations and is considered to be less risky than G500.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 | G500.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.73% | 3.57% | -0.84% |
Volatility (6M)Calculated over the trailing 6-month period | 9.24% | 11.66% | -2.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 99.43% | 14.98% | +84.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.13% | 20.37% | +26.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.27% | 20.09% | +15.18% |
SPXS.L vs. G500.L - Expense Ratio Comparison
Both SPXS.L and G500.L have an expense ratio of 0.05%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
SPXS.L vs. G500.L - Dividend Comparison
Neither SPXS.L nor G500.L has paid dividends to shareholders.
Frequently Asked Questions
SPXS.L and G500.L have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.05% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
SPXS.L and G500.L have the same expense ratio: 0.05% per year.
SPXS.L tracks Invesco S&P 500 UCITS ETF, while G500.L tracks Invesco S&P 500 UCITS ETF (GBP Hdg).
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