SPXS.L vs. XDWE.L
SPXS.L (Invesco S&P 500 UCITS ETF USD (Acc)) and XDWE.L (Xtrackers S&P 500 Equal Weight UCITS ETF 1C) are both S&P 500 funds - SPXS.L tracks the S&P 500 Index while XDWE.L tracks the S&P 500 Equal Weight Index. Both are passively managed. Over the past 10 years, SPXS.L returned -27.46%/yr vs 11.50%/yr for XDWE.L. Their correlation of 0.81 suggests significant overlap in exposure. SPXS.L charges 0.05%/yr vs 0.20%/yr for XDWE.L.
Performance
SPXS.L vs. XDWE.L - Performance Comparison
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Different Trading Currencies
SPXS.L is traded in USD, while XDWE.L is traded in GBp. To make them comparable, the XDWE.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 8.95% return, which is significantly lower than XDWE.L's 11.72% return. Over the past 10 years, SPXS.L has underperformed XDWE.L with an annualized return of -27.46%, while XDWE.L has yielded a comparatively higher 11.50% 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%
XDWE.L
- 1D
- -0.27%
- 1M
- 1.87%
- 6M
- 8.29%
- YTD
- 11.72%
- 1Y
- 18.33%
- 3Y*
- 13.39%
- 5Y*
- 8.90%
- 10Y*
- 11.50%
SPXS.L vs. XDWE.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% |
XDWE.L Xtrackers S&P 500 Equal Weight UCITS ETF 1C | 11.72% | 11.79% | 12.16% | 13.47% | -11.89% | 30.18% | 11.20% | 28.85% | -9.06% | 18.09% |
Correlation
The correlation between SPXS.L and XDWE.L is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.80 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Jun 10, 2014 | 0.81 |
The correlation between SPXS.L and XDWE.L shifts across timeframes, from 0.67 (1 year) to 0.81 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SPXS.L vs. XDWE.L — Risk / Return Rank
SPXS.L
XDWE.L
SPXS.L vs. XDWE.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 Xtrackers S&P 500 Equal Weight UCITS ETF 1C (XDWE.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 | XDWE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.82 | ||
| Sortino ratioReturn per unit of downside risk | -3.55 | ||
| Omega ratioGain probability vs. loss probability | 0.51 | 1.32 | -0.81 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | 2.58 | -3.57 |
| Martin ratioReturn relative to average drawdown | -1.22 | 9.37 | -10.60 |
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Drawdowns
SPXS.L vs. XDWE.L - Drawdown Comparison
The maximum SPXS.L drawdown since its inception was -99.07%, roughly equal to the maximum XDWE.L drawdown of -98.45%. Use the drawdown chart below to compare losses from any high point for SPXS.L and XDWE.L.
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Drawdown Indicators
| SPXS.L | XDWE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.07% | -98.45% | -0.62% |
Max Drawdown (1Y)Largest decline over 1 year | -99.07% | -7.08% | -91.99% |
Max Drawdown (3Y)Largest decline over 3 years | -99.07% | -19.08% | -79.99% |
Max Drawdown (5Y)Largest decline over 5 years | -99.07% | -21.62% | -77.45% |
Max Drawdown (10Y)Largest decline over 10 years | -99.07% | -38.50% | -60.57% |
Current DrawdownCurrent decline from peak | -98.91% | -0.42% | -98.49% |
Average DrawdownAverage peak-to-trough decline | -7.69% | -4.99% | -2.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 80.82% | 1.95% | +78.87% |
Volatility
SPXS.L vs. XDWE.L - Volatility Comparison
Invesco S&P 500 UCITS ETF USD (Acc) (SPXS.L) has a higher volatility of 3.01% compared to Xtrackers S&P 500 Equal Weight UCITS ETF 1C (XDWE.L) at 2.22%. This indicates that SPXS.L's price experiences larger fluctuations and is considered to be riskier than XDWE.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 | XDWE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.01% | 2.22% | +0.79% |
Volatility (6M)Calculated over the trailing 6-month period | 9.33% | 7.16% | +2.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 99.43% | 10.13% | +89.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.12% | 20.57% | +26.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.28% | 19.36% | +15.92% |
SPXS.L vs. XDWE.L - Expense Ratio Comparison
SPXS.L has a 0.05% expense ratio, which is lower than XDWE.L's 0.20% 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. XDWE.L - Dividend Comparison
Neither SPXS.L nor XDWE.L has paid dividends to shareholders.
Frequently Asked Questions
SPXS.L and XDWE.L have a correlation of 0.67, 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 0.20% for XDWE.L.
SPXS.L tracks S&P 500 Index, while XDWE.L tracks S&P 500 Equal Weight Index. They also come from different issuers: Invesco and Xtrackers. Their fees differ too: 0.05% for SPXS.L and 0.20% for XDWE.L.
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