SPXS.L vs. SASU.L
SPXS.L (Invesco S&P 500 UCITS ETF) and SASU.L (iShares MSCI USA Screened UCITS ETF USD (Acc)) are both Global Equities funds - SPXS.L tracks the Invesco S&P 500 UCITS ETF while SASU.L tracks the iShares MSCI USA Screened UCITS ETF USD (Acc). Both are passively managed. Over the past 5 years, SPXS.L returned -54.94%/yr vs 13.14%/yr for SASU.L. With a 0.98 correlation, they move nearly in lockstep. SPXS.L charges 0.05%/yr vs 0.07%/yr for SASU.L.
Performance
SPXS.L vs. SASU.L - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with SPXS.L having a 10.20% return and SASU.L slightly lower at 9.89%.
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%
SASU.L
- 1D
- -0.07%
- 1M
- 0.12%
- 6M
- 9.97%
- YTD
- 9.89%
- 1Y
- 21.97%
- 3Y*
- 20.80%
- 5Y*
- 13.14%
- 10Y*
- —
SPXS.L vs. SASU.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% | -9.41% |
SASU.L iShares MSCI USA Screened UCITS ETF USD (Acc) | 9.89% | 17.83% | 26.90% | 30.69% | -21.34% | 28.26% | 22.00% | 31.02% | -8.81% |
Correlation
The correlation between SPXS.L and SASU.L is 0.99 - 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 | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2018 | 0.98 |
The correlation between SPXS.L and SASU.L has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
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Return for Risk
SPXS.L vs. SASU.L — Risk / Return Rank
SPXS.L
SASU.L
SPXS.L vs. SASU.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 iShares MSCI USA Screened UCITS ETF USD (Acc) (SASU.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 | SASU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.76 | ||
| Sortino ratioReturn per unit of downside risk | -3.41 | ||
| Omega ratioGain probability vs. loss probability | 0.52 | 1.32 | -0.79 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | 2.41 | -3.41 |
| Martin ratioReturn relative to average drawdown | -1.23 | 9.61 | -10.84 |
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Drawdowns
SPXS.L vs. SASU.L - Drawdown Comparison
The maximum SPXS.L drawdown since its inception was -99.07%, which is greater than SASU.L's maximum drawdown of -34.07%. Use the drawdown chart below to compare losses from any high point for SPXS.L and SASU.L.
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Drawdown Indicators
| SPXS.L | SASU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.07% | -34.07% | -65.00% |
Max Drawdown (1Y)Largest decline over 1 year | -99.07% | -9.53% | -89.54% |
Max Drawdown (3Y)Largest decline over 3 years | -99.07% | -19.83% | -79.24% |
Max Drawdown (5Y)Largest decline over 5 years | -99.07% | -26.24% | -72.83% |
Max Drawdown (10Y)Largest decline over 10 years | -99.07% | — | — |
Current DrawdownCurrent decline from peak | -98.90% | -0.77% | -98.13% |
Average DrawdownAverage peak-to-trough decline | -7.67% | -5.40% | -2.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 80.57% | 2.40% | +78.17% |
Volatility
SPXS.L vs. SASU.L - Volatility Comparison
The current volatility for Invesco S&P 500 UCITS ETF (SPXS.L) is 2.73%, while iShares MSCI USA Screened UCITS ETF USD (Acc) (SASU.L) has a volatility of 3.04%. This indicates that SPXS.L experiences smaller price fluctuations and is considered to be less risky than SASU.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 | SASU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.73% | 3.04% | -0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 9.24% | 10.09% | -0.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 99.43% | 13.09% | +86.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.13% | 17.03% | +30.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.27% | 18.39% | +16.88% |
SPXS.L vs. SASU.L - Expense Ratio Comparison
SPXS.L has a 0.05% expense ratio, which is lower than SASU.L's 0.07% 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. SASU.L - Dividend Comparison
Neither SPXS.L nor SASU.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.99, SPXS.L and SASU.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.
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 0.07% for SASU.L.
SPXS.L tracks Invesco S&P 500 UCITS ETF, while SASU.L tracks iShares MSCI USA Screened UCITS ETF USD (Acc). They also come from different issuers: Invesco and iShares. Their fees differ too: 0.05% for SPXS.L and 0.07% for SASU.L.
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