SPXS.L vs. LGUS.L
SPXS.L (Invesco S&P 500 UCITS ETF) and LGUS.L (L&G US Equity UCITS ETF) are both Global Equities funds - SPXS.L tracks the Invesco S&P 500 UCITS ETF while LGUS.L tracks the L&G US Equity UCITS ETF. Both are passively managed. Over the past 5 years, SPXS.L returned -54.94%/yr vs 12.82%/yr for LGUS.L. With a 0.97 correlation, they move nearly in lockstep. Both charge a 0.05% expense ratio.
Performance
SPXS.L vs. LGUS.L - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with SPXS.L having a 10.20% return and LGUS.L slightly higher at 10.34%.
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%
LGUS.L
- 1D
- 0.00%
- 1M
- 0.20%
- 6M
- 9.90%
- YTD
- 10.34%
- 1Y
- 21.64%
- 3Y*
- 20.40%
- 5Y*
- 12.82%
- 10Y*
- —
SPXS.L vs. LGUS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SPXS.L Invesco S&P 500 UCITS ETF | 10.20% | -98.82% | 25.56% | 27.00% | -18.53% | 29.64% | 17.89% | 30.86% | -10.39% |
LGUS.L L&G US Equity UCITS ETF | 10.34% | 17.98% | 25.09% | 28.66% | -20.46% | 27.91% | 21.16% | 30.91% | -9.25% |
Correlation
The correlation between SPXS.L and LGUS.L is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2018 | 0.97 |
The correlation between SPXS.L and LGUS.L has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.
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Return for Risk
SPXS.L vs. LGUS.L — Risk / Return Rank
SPXS.L
LGUS.L
SPXS.L vs. LGUS.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 L&G US Equity UCITS ETF (LGUS.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 | LGUS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.78 | ||
| Sortino ratioReturn per unit of downside risk | -3.47 | ||
| Omega ratioGain probability vs. loss probability | 0.52 | 1.32 | -0.80 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | 2.59 | -3.59 |
| Martin ratioReturn relative to average drawdown | -1.23 | 9.99 | -11.21 |
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Drawdowns
SPXS.L vs. LGUS.L - Drawdown Comparison
The maximum SPXS.L drawdown since its inception was -99.07%, which is greater than LGUS.L's maximum drawdown of -34.26%. Use the drawdown chart below to compare losses from any high point for SPXS.L and LGUS.L.
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Drawdown Indicators
| SPXS.L | LGUS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.07% | -34.26% | -64.81% |
Max Drawdown (1Y)Largest decline over 1 year | -99.07% | -8.58% | -90.49% |
Max Drawdown (3Y)Largest decline over 3 years | -99.07% | -19.46% | -79.61% |
Max Drawdown (5Y)Largest decline over 5 years | -99.07% | -25.64% | -73.43% |
Max Drawdown (10Y)Largest decline over 10 years | -99.07% | — | — |
Current DrawdownCurrent decline from peak | -98.90% | -0.49% | -98.41% |
Average DrawdownAverage peak-to-trough decline | -7.67% | -5.30% | -2.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 80.57% | 2.23% | +78.34% |
Volatility
SPXS.L vs. LGUS.L - Volatility Comparison
Invesco S&P 500 UCITS ETF (SPXS.L) and L&G US Equity UCITS ETF (LGUS.L) have volatilities of 2.73% and 2.86%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPXS.L | LGUS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.73% | 2.86% | -0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 9.24% | 9.41% | -0.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 99.43% | 12.47% | +86.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.13% | 16.51% | +30.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.27% | 18.10% | +17.17% |
SPXS.L vs. LGUS.L - Expense Ratio Comparison
Both SPXS.L and LGUS.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. LGUS.L - Dividend Comparison
Neither SPXS.L nor LGUS.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.97, SPXS.L and LGUS.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
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 LGUS.L have the same expense ratio: 0.05% per year.
SPXS.L tracks Invesco S&P 500 UCITS ETF, while LGUS.L tracks L&G US Equity UCITS ETF. They also come from different issuers: Invesco and L&G.
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