SPXS.MI vs. MXWS.L
SPXS.MI (Invesco S&P 500 UCITS ETF) and MXWS.L (Invesco MSCI World UCITS ETF) are both exchange-traded funds - SPXS.MI is a S&P 500 fund tracking the S&P 500 Index, while MXWS.L is a Global Equities fund tracking the MSCI ACWI NR USD. Both are passively managed. Over the past 10 years, SPXS.MI returned 15.17%/yr vs 13.11%/yr for MXWS.L. A 0.77 correlation means they provide meaningful diversification when combined. SPXS.MI charges 0.05%/yr vs 0.19%/yr for MXWS.L.
Performance
SPXS.MI vs. MXWS.L - Performance Comparison
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Different Trading Currencies
SPXS.MI is traded in EUR, while MXWS.L is traded in GBp. To make them comparable, the MXWS.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with SPXS.MI having a 11.42% return and MXWS.L slightly lower at 11.16%. Over the past 10 years, SPXS.MI has outperformed MXWS.L with an annualized return of 15.17%, while MXWS.L has yielded a comparatively lower 13.11% annualized return.
SPXS.MI
- 1D
- -0.11%
- 1M
- 5.27%
- YTD
- 11.42%
- 6M
- 11.54%
- 1Y
- 25.86%
- 3Y*
- 19.09%
- 5Y*
- 14.98%
- 10Y*
- 15.17%
MXWS.L
- 1D
- -0.05%
- 1M
- 5.00%
- YTD
- 11.16%
- 6M
- 11.48%
- 1Y
- 24.09%
- 3Y*
- 17.57%
- 5Y*
- 12.97%
- 10Y*
- 13.11%
SPXS.MI vs. MXWS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPXS.MI Invesco S&P 500 UCITS ETF | 11.42% | 4.51% | 33.86% | 22.52% | -14.49% | 41.21% | 7.76% | 34.77% | -0.95% | 6.04% |
MXWS.L Invesco MSCI World UCITS ETF | 11.16% | 6.75% | 26.96% | 20.22% | -13.03% | 31.70% | 6.26% | 31.54% | -5.22% | 7.39% |
Correlation
The correlation between SPXS.MI and MXWS.L is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since May 28, 2015 | 0.77 |
The correlation between SPXS.MI and MXWS.L shifts across timeframes, from 0.77 (all time) to 0.92 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SPXS.MI vs. MXWS.L — Risk / Return Rank
SPXS.MI
MXWS.L
SPXS.MI vs. MXWS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 UCITS ETF (SPXS.MI) and Invesco MSCI World UCITS ETF (MXWS.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.
| SPXS.MI | MXWS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.42 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.70 | 3.64 | +0.06 |
| Martin ratioReturn relative to average drawdown | 13.16 | 14.88 | -1.72 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPXS.MI | MXWS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.26 | 2.22 | +0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.98 | 0.92 | +0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.97 | 0.96 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.95 | 0.80 | +0.15 |
Drawdowns
SPXS.MI vs. MXWS.L - Drawdown Comparison
The maximum SPXS.MI drawdown since its inception was -33.57%, roughly equal to the maximum MXWS.L drawdown of -32.34%. Use the drawdown chart below to compare losses from any high point for SPXS.MI and MXWS.L.
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Drawdown Indicators
| SPXS.MI | MXWS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.57% | -32.34% | -1.23% |
Max Drawdown (1Y)Largest decline over 1 year | -7.00% | -6.59% | -0.41% |
Max Drawdown (3Y)Largest decline over 3 years | -23.10% | -21.67% | -1.43% |
Max Drawdown (5Y)Largest decline over 5 years | -23.10% | -21.67% | -1.43% |
Max Drawdown (10Y)Largest decline over 10 years | -33.57% | -32.34% | -1.23% |
Current DrawdownCurrent decline from peak | -0.40% | -0.31% | -0.09% |
Average DrawdownAverage peak-to-trough decline | -4.35% | -4.32% | -0.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.96% | 1.62% | +0.34% |
Volatility
SPXS.MI vs. MXWS.L - Volatility Comparison
Invesco S&P 500 UCITS ETF (SPXS.MI) has a higher volatility of 2.68% compared to Invesco MSCI World UCITS ETF (MXWS.L) at 2.17%. This indicates that SPXS.MI's price experiences larger fluctuations and is considered to be riskier than MXWS.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.MI | MXWS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.68% | 2.17% | +0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 7.56% | 7.66% | -0.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.44% | 10.83% | +0.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.13% | 14.14% | +0.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.31% | 15.83% | +0.48% |
SPXS.MI vs. MXWS.L - Expense Ratio Comparison
SPXS.MI has a 0.05% expense ratio, which is lower than MXWS.L's 0.19% 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.MI vs. MXWS.L - Dividend Comparison
Neither SPXS.MI nor MXWS.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.92, SPXS.MI and MXWS.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.MI is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPXS.MI is cheaper with a 0.05% expense ratio, compared with 0.19% for MXWS.L.
SPXS.MI is categorized as S&P 500, while MXWS.L is Global Equities. SPXS.MI tracks S&P 500 Index, while MXWS.L tracks MSCI ACWI NR USD. Their fees differ too: 0.05% for SPXS.MI and 0.19% for MXWS.L.
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