SPY5.L vs. IMID.L

Last updated Jun 5, 2026

SPY5.L (State Street SPDR S&P 500 UCITS ETF) and IMID.L (SPDR MSCI ACWI IMI) are both exchange-traded funds - SPY5.L is a S&P 500 fund tracking the S&P 500, while IMID.L is a Global Equities fund tracking the MSCI ACWI NR USD. Both are passively managed. Over the past 5 years, SPY5.L returned 13.71%/yr vs 10.97%/yr for IMID.L. Their correlation of 0.95 suggests significant overlap in exposure. SPY5.L charges 0.09%/yr vs 0.40%/yr for IMID.L.

Performance

SPY5.L vs. IMID.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street SPDR S&P 500 UCITS ETF (SPY5.L) and SPDR MSCI ACWI IMI (IMID.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPY5.L achieves a 10.31% return, which is significantly lower than IMID.L's 12.35% return.

SPY5.L

• 1D: 0.01%
• 1M: 4.49%
• YTD: 10.31%
• 6M: 11.16%
• 1Y: 27.83%
• 3Y*: 22.16%
• 5Y*: 13.71%
• 10Y*: 15.36%

IMID.L

• 1D: 0.04%
• 1M: 4.45%
• YTD: 12.35%
• 6M: 13.70%
• 1Y: 30.09%
• 3Y*: 20.83%
• 5Y*: 10.97%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SPY5.L vs. IMID.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
SPY5.L State Street SPDR S&P 500 UCITS ETF	10.31%	17.43%	25.36%	26.64%	-18.68%	29.28%	17.52%	30.85%	-5.71%
IMID.L SPDR MSCI ACWI IMI	12.35%	22.16%	16.31%	21.65%	-17.64%	17.85%	16.14%	25.35%	-9.90%

Correlation

The correlation between SPY5.L and IMID.L is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (All Time) Calculated using the full available price history since May 30, 2018	0.95

The correlation between SPY5.L and IMID.L has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.

SPY5.L vs. IMID.L - Sectors Allocation Comparison

Sectors	SPY5.L	IMID.L
Technology	38.0%	9.6%
Financial Services	11.3%	13.0%
Communication Services	10.6%	3.1%
Consumer Cyclical	9.8%	9.7%
Healthcare	8.4%	9.6%
Industrials	7.6%	19.5%
Consumer Defensive	4.7%	9.7%
Energy	3.4%	1.6%
Utilities	2.6%	3.3%
Real Estate	1.8%	8.0%
Basic Materials	1.7%	8.2%

Return for Risk

SPY5.L vs. IMID.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SPY5.L

SPY5.L Risk / Return Rank: 75
SPY5.L Sharpe Ratio Rank: 75
SPY5.L Sortino Ratio Rank: 79
SPY5.L Omega Ratio Rank: 75
SPY5.L Calmar Ratio Rank: 69
SPY5.L Martin Ratio Rank: 77

IMID.L

IMID.L Risk / Return Rank: 75
IMID.L Sharpe Ratio Rank: 74
IMID.L Sortino Ratio Rank: 80
IMID.L Omega Ratio Rank: 75
IMID.L Calmar Ratio Rank: 70
IMID.L Martin Ratio Rank: 75

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SPY5.L vs. IMID.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR S&P 500 UCITS ETF (SPY5.L) and SPDR MSCI ACWI IMI (IMID.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.

	SPY5.L	IMID.L	Difference
Sharpe ratio: Return per unit of total volatility	2.39	2.37	+0.02
Sortino ratio: Return per unit of downside risk	3.51	3.52	-0.01
Omega ratio: Gain probability vs. loss probability	1.44	1.44	0.00
Calmar ratio: Return relative to maximum drawdown	3.39	3.43	-0.05
Martin ratio: Return relative to average drawdown	14.64	14.20	+0.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPY5.L vs. IMID.L - Sharpe Ratio Comparison

The current SPY5.L Sharpe Ratio is 2.39, which is comparable to the IMID.L Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of SPY5.L and IMID.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SPY5.L	IMID.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.39	2.37	+0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.86	0.71	+0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.94	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.95	0.56	+0.38

Drawdowns

SPY5.L vs. IMID.L - Drawdown Comparison

The maximum SPY5.L drawdown since its inception was -33.89%, smaller than the maximum IMID.L drawdown of -39.56%. Use the drawdown chart below to compare losses from any high point for SPY5.L and IMID.L.

Drawdown Indicators

	SPY5.L	IMID.L	Difference
Max Drawdown Largest peak-to-trough decline	-33.89%	-39.56%	+5.67%
Max Drawdown (1Y) Largest decline over 1 year	-8.18%	-8.69%	+0.51%
Max Drawdown (3Y) Largest decline over 3 years	-18.37%	-17.21%	-1.16%
Max Drawdown (5Y) Largest decline over 5 years	-24.37%	-26.07%	+1.70%
Max Drawdown (10Y) Largest decline over 10 years	-33.89%	—	—
Current Drawdown Current decline from peak	-0.55%	-0.64%	+0.09%
Average Drawdown Average peak-to-trough decline	-3.70%	-5.40%	+1.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.90%	2.11%	-0.21%

Volatility

SPY5.L vs. IMID.L - Volatility Comparison

The current volatility for State Street SPDR S&P 500 UCITS ETF (SPY5.L) is 3.17%, while SPDR MSCI ACWI IMI (IMID.L) has a volatility of 3.74%. This indicates that SPY5.L experiences smaller price fluctuations and is considered to be less risky than IMID.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPY5.L	IMID.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.17%	3.74%	-0.57%
Volatility (6M) Calculated over the trailing 6-month period	8.48%	9.93%	-1.45%
Volatility (1Y) Calculated over the trailing 1-year period	11.59%	12.60%	-1.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.92%	15.53%	+0.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.24%	21.23%	-4.99%

SPY5.L vs. IMID.L - Expense Ratio Comparison

SPY5.L has a 0.09% expense ratio, which is lower than IMID.L's 0.40% expense ratio.

Dividends

SPY5.L vs. IMID.L - Dividend Comparison

SPY5.L's dividend yield for the trailing twelve months is around 0.89%, while IMID.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IMID.L SPDR MSCI ACWI IMI	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPY5.L State Street SPDR S&P 500 UCITS ETF	0.89%	0.97%	1.06%	1.19%	1.40%	0.99%	1.28%	1.71%	2.20%	2.29%	1.64%	1.73%

Frequently Asked Questions

Can I hold both SPY5.L and IMID.L in my portfolio?

With a correlation of 0.94, SPY5.L and IMID.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.

Which ETF is better, SPY5.L or IMID.L?

On fees, SPY5.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPY5.L or IMID.L?

SPY5.L is cheaper with a 0.09% expense ratio, compared with 0.40% for IMID.L.

What is the main difference between SPY5.L and IMID.L?

SPY5.L is categorized as S&P 500, while IMID.L is Global Equities. SPY5.L tracks S&P 500, while IMID.L tracks MSCI ACWI NR USD. Their fees differ too: 0.09% for SPY5.L and 0.40% for IMID.L.