SPXS.MI vs. ^GSPC
SPXS.MI (Invesco S&P 500 UCITS ETF) is S&P 500 fund tracking the S&P 500 Index, while ^GSPC (S&P 500 Index) is an index. Over the past 10 years, SPXS.MI returned -27.22%/yr vs 13.56%/yr for ^GSPC. A 0.54 correlation means they provide meaningful diversification when combined.
Performance
SPXS.MI vs. ^GSPC - Performance Comparison
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Different Trading Currencies
SPXS.MI is traded in EUR, while ^GSPC is traded in USD. To make them comparable, the ^GSPC values have been converted to EUR using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with SPXS.MI having a 10.84% return and ^GSPC slightly higher at 11.08%. Over the past 10 years, SPXS.MI has underperformed ^GSPC with an annualized return of -27.22%, while ^GSPC has yielded a comparatively higher 13.56% annualized return.
SPXS.MI
- 1D
- -0.84%
- 1M
- 0.23%
- YTD
- 10.84%
- 6M
- 11.31%
- 1Y
- -98.75%
- 3Y*
- -74.33%
- 5Y*
- -54.56%
- 10Y*
- -27.22%
^GSPC
- 1D
- -0.08%
- 1M
- 0.13%
- YTD
- 11.08%
- 6M
- 9.99%
- 1Y
- 23.85%
- 3Y*
- 17.70%
- 5Y*
- 12.53%
- 10Y*
- 13.56%
SPXS.MI vs. ^GSPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPXS.MI Invesco S&P 500 UCITS ETF | 10.84% | -98.95% | 33.86% | 22.52% | -14.49% | 41.21% | 7.76% | 34.77% | -0.95% | 1.55% |
^GSPC S&P 500 Index | 11.08% | 2.58% | 31.45% | 20.51% | -14.45% | 36.38% | 6.68% | 31.79% | -1.84% | 4.74% |
Correlation
The correlation between SPXS.MI and ^GSPC 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 | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since May 20, 2010 | 0.54 |
The correlation between SPXS.MI and ^GSPC shifts across timeframes, from 0.54 (all time) to 0.67 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SPXS.MI vs. ^GSPC — Risk / Return Rank
SPXS.MI
^GSPC
SPXS.MI vs. ^GSPC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 UCITS ETF (SPXS.MI) and S&P 500 Index (^GSPC). 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.MI | ^GSPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.89 | ||
| Sortino ratioReturn per unit of downside risk | -3.24 | ||
| Omega ratioGain probability vs. loss probability | 0.52 | 1.35 | -0.83 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | 3.17 | -4.16 |
| Martin ratioReturn relative to average drawdown | -1.38 | 11.71 | -13.10 |
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Drawdowns
SPXS.MI vs. ^GSPC - Drawdown Comparison
The maximum SPXS.MI drawdown since its inception was -99.06%, which is greater than ^GSPC's maximum drawdown of -51.62%. Use the drawdown chart below to compare losses from any high point for SPXS.MI and ^GSPC.
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Drawdown Indicators
| SPXS.MI | ^GSPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.06% | -51.62% | -47.44% |
Max Drawdown (1Y)Largest decline over 1 year | -99.06% | -7.57% | -91.49% |
Max Drawdown (3Y)Largest decline over 3 years | -99.06% | -23.99% | -75.07% |
Max Drawdown (5Y)Largest decline over 5 years | -99.06% | -23.99% | -75.07% |
Max Drawdown (10Y)Largest decline over 10 years | -99.06% | -33.42% | -65.64% |
Current DrawdownCurrent decline from peak | -98.90% | -1.08% | -97.82% |
Average DrawdownAverage peak-to-trough decline | -7.97% | -9.08% | +1.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 71.37% | 2.04% | +69.33% |
Volatility
SPXS.MI vs. ^GSPC - Volatility Comparison
The current volatility for Invesco S&P 500 UCITS ETF (SPXS.MI) is 3.35%, while S&P 500 Index (^GSPC) has a volatility of 3.97%. This indicates that SPXS.MI experiences smaller price fluctuations and is considered to be less risky than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPXS.MI | ^GSPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.35% | 3.97% | -0.62% |
Volatility (6M)Calculated over the trailing 6-month period | 8.05% | 9.16% | -1.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 99.60% | 12.60% | +87.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 46.68% | 16.86% | +29.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 49.13% | 18.61% | +30.52% |
Frequently Asked Questions
SPXS.MI and ^GSPC 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.
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