SPXS.MI vs. SPYM
SPXS.MI (Invesco S&P 500 UCITS ETF) and SPYM (State Street SPDR Portfolio S&P 500 ETF) are both S&P 500 funds tracking the S&P 500 Index, from Invesco and State Street respectively. Both are passively managed. Over the past 10 years, SPXS.MI returned 15.17%/yr vs 15.31%/yr for SPYM. A 0.54 correlation means they provide meaningful diversification when combined. SPXS.MI charges 0.05%/yr vs 0.02%/yr for SPYM.
Performance
SPXS.MI vs. SPYM - Performance Comparison
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Different Trading Currencies
SPXS.MI is traded in EUR, while SPYM is traded in USD. To make them comparable, the SPYM values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, SPXS.MI achieves a 11.42% return, which is significantly lower than SPYM's 12.63% return. Both investments have delivered pretty close results over the past 10 years, with SPXS.MI having a 15.17% annualized return and SPYM not far ahead at 15.31%.
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%
SPYM
- 1D
- 0.20%
- 1M
- 5.30%
- YTD
- 12.63%
- 6M
- 11.55%
- 1Y
- 26.44%
- 3Y*
- 19.41%
- 5Y*
- 15.05%
- 10Y*
- 15.31%
SPXS.MI vs. SPYM - 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% |
SPYM State Street SPDR Portfolio S&P 500 ETF | 12.63% | 3.81% | 33.25% | 22.46% | -13.01% | 38.41% | 8.72% | 34.98% | -0.31% | 6.39% |
Correlation
The correlation between SPXS.MI and SPYM 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 | 0.57 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2014 | 0.54 |
The correlation between SPXS.MI and SPYM 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. SPYM — Risk / Return Rank
SPXS.MI
SPYM
SPXS.MI vs. SPYM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 UCITS ETF (SPXS.MI) and State Street SPDR Portfolio S&P 500 ETF (SPYM). 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 | SPYM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.27 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.40 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.70 | 3.61 | +0.09 |
| Martin ratioReturn relative to average drawdown | 13.16 | 13.67 | -0.51 |
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 | SPYM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.26 | 2.18 | +0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.98 | 0.91 | +0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.97 | 0.83 | +0.14 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.95 | 0.64 | +0.31 |
Drawdowns
SPXS.MI vs. SPYM - Drawdown Comparison
The maximum SPXS.MI drawdown since its inception was -33.57%, smaller than the maximum SPYM drawdown of -48.90%. Use the drawdown chart below to compare losses from any high point for SPXS.MI and SPYM.
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Drawdown Indicators
| SPXS.MI | SPYM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.57% | -48.90% | +15.33% |
Max Drawdown (1Y)Largest decline over 1 year | -7.00% | -7.36% | +0.36% |
Max Drawdown (3Y)Largest decline over 3 years | -23.10% | -23.83% | +0.73% |
Max Drawdown (5Y)Largest decline over 5 years | -23.10% | -23.83% | +0.73% |
Max Drawdown (10Y)Largest decline over 10 years | -33.57% | -33.37% | -0.20% |
Current DrawdownCurrent decline from peak | -0.40% | -0.19% | -0.21% |
Average DrawdownAverage peak-to-trough decline | -4.35% | -7.65% | +3.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.96% | 1.94% | +0.02% |
Volatility
SPXS.MI vs. SPYM - Volatility Comparison
Invesco S&P 500 UCITS ETF (SPXS.MI) has a higher volatility of 2.68% compared to State Street SPDR Portfolio S&P 500 ETF (SPYM) at 2.15%. This indicates that SPXS.MI's price experiences larger fluctuations and is considered to be riskier than SPYM 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 | SPYM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.68% | 2.15% | +0.53% |
Volatility (6M)Calculated over the trailing 6-month period | 7.56% | 8.55% | -0.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.44% | 12.21% | -0.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.13% | 16.69% | -1.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.31% | 18.52% | -2.21% |
SPXS.MI vs. SPYM - Expense Ratio Comparison
SPXS.MI has a 0.05% expense ratio, which is higher than SPYM's 0.02% expense ratio. However, 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. SPYM - Dividend Comparison
SPXS.MI has not paid dividends to shareholders, while SPYM's dividend yield for the trailing twelve months is around 0.99%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPXS.MI Invesco S&P 500 UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPYM State Street SPDR Portfolio S&P 500 ETF | 0.99% | 1.13% | 1.28% | 1.44% | 1.69% | 1.25% | 1.54% | 1.79% | 2.23% | 1.75% | 1.97% | 1.98% |
Frequently Asked Questions
SPXS.MI and SPYM 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, SPYM is cheaper at 0.02% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYM is cheaper with a 0.02% expense ratio, compared with 0.05% for SPXS.MI.
Both ETFs track S&P 500 Index. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.05% for SPXS.MI and 0.02% for SPYM.
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