SPXS.L vs. IUES.L
SPXS.L (Invesco S&P 500 UCITS ETF USD (Acc)) and IUES.L (iShares S&P 500 Energy Sector UCITS ETF USD (Acc)) are both exchange-traded funds - SPXS.L is a S&P 500 fund tracking the S&P 500 Index, while IUES.L is a Energy Equities fund tracking the MSCI World/Energy NR USD. Both are passively managed. Over the past 10 years, SPXS.L returned -27.46%/yr vs 8.75%/yr for IUES.L. At a 0.43 correlation, their price movements are largely independent. SPXS.L charges 0.05%/yr vs 0.15%/yr for IUES.L.
Performance
SPXS.L vs. IUES.L - Performance Comparison
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Returns By Period
In the year-to-date period, SPXS.L achieves a 8.95% return, which is significantly lower than IUES.L's 28.42% return. Over the past 10 years, SPXS.L has underperformed IUES.L with an annualized return of -27.46%, while IUES.L has yielded a comparatively higher 8.75% annualized return.
SPXS.L
- 1D
- -1.32%
- 1M
- -0.60%
- 6M
- 8.00%
- YTD
- 8.95%
- 1Y
- -98.80%
- 3Y*
- -74.24%
- 5Y*
- -55.04%
- 10Y*
- -27.46%
IUES.L
- 1D
- 0.75%
- 1M
- 5.21%
- 6M
- 21.22%
- YTD
- 28.42%
- 1Y
- 36.37%
- 3Y*
- 14.53%
- 5Y*
- 22.23%
- 10Y*
- 8.75%
SPXS.L vs. IUES.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPXS.L Invesco S&P 500 UCITS ETF USD (Acc) | 8.95% | -98.82% | 25.56% | 27.00% | -18.53% | 29.64% | 17.89% | 30.86% | -5.19% | 21.62% |
IUES.L iShares S&P 500 Energy Sector UCITS ETF USD (Acc) | 28.42% | 9.91% | 3.87% | -0.66% | 63.84% | 51.95% | -33.35% | 8.70% | -18.12% | -1.05% |
Correlation
The correlation between SPXS.L and IUES.L is -0.15, 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 | -0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
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 | 0.43 |
The correlation between SPXS.L and IUES.L shifts across timeframes, from -0.15 (1 year) to 0.43 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SPXS.L vs. IUES.L — Risk / Return Rank
SPXS.L
IUES.L
SPXS.L vs. IUES.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 UCITS ETF USD (Acc) (SPXS.L) and iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IUES.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 | IUES.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.58 | ||
| Sortino ratioReturn per unit of downside risk | -2.89 | ||
| Omega ratioGain probability vs. loss probability | 0.51 | 1.27 | -0.76 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | 2.22 | -3.21 |
| Martin ratioReturn relative to average drawdown | -1.22 | 5.67 | -6.89 |
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Drawdowns
SPXS.L vs. IUES.L - Drawdown Comparison
The maximum SPXS.L drawdown since its inception was -99.07%, which is greater than IUES.L's maximum drawdown of -66.79%. Use the drawdown chart below to compare losses from any high point for SPXS.L and IUES.L.
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Drawdown Indicators
| SPXS.L | IUES.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.07% | -66.79% | -32.28% |
Max Drawdown (1Y)Largest decline over 1 year | -99.07% | -16.33% | -82.74% |
Max Drawdown (3Y)Largest decline over 3 years | -99.07% | -20.90% | -78.17% |
Max Drawdown (5Y)Largest decline over 5 years | -99.07% | -27.98% | -71.09% |
Max Drawdown (10Y)Largest decline over 10 years | -99.07% | -66.79% | -32.28% |
Current DrawdownCurrent decline from peak | -98.91% | -8.88% | -90.03% |
Average DrawdownAverage peak-to-trough decline | -7.69% | -14.18% | +6.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 80.82% | 6.40% | +74.42% |
Volatility
SPXS.L vs. IUES.L - Volatility Comparison
The current volatility for Invesco S&P 500 UCITS ETF USD (Acc) (SPXS.L) is 3.01%, while iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IUES.L) has a volatility of 6.91%. This indicates that SPXS.L experiences smaller price fluctuations and is considered to be less risky than IUES.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 | IUES.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.01% | 6.91% | -3.90% |
Volatility (6M)Calculated over the trailing 6-month period | 9.33% | 19.69% | -10.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 99.43% | 22.76% | +76.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.12% | 26.74% | +20.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.28% | 28.53% | +6.75% |
SPXS.L vs. IUES.L - Expense Ratio Comparison
SPXS.L has a 0.05% expense ratio, which is lower than IUES.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. IUES.L - Dividend Comparison
Neither SPXS.L nor IUES.L has paid dividends to shareholders.
Frequently Asked Questions
SPXS.L and IUES.L have a correlation of -0.15, 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 IUES.L.
SPXS.L is categorized as S&P 500, while IUES.L is Energy Equities. SPXS.L tracks S&P 500 Index, while IUES.L tracks MSCI World/Energy NR USD. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.05% for SPXS.L and 0.15% for IUES.L.
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