SPY5.L vs. UTIL.L

Last updated Jun 25, 2026

SPY5.L (State Street SPDR S&P 500 UCITS ETF (Dist)) and UTIL.L (SPDR MSCI Europe Utilities UCITS ETF) are both exchange-traded funds - SPY5.L is a S&P 500 fund tracking the S&P 500 Index, while UTIL.L is a Utilities Equities fund tracking the MSCI World/Utilities NR USD. Both are passively managed. Over the past 10 years, SPY5.L returned 15.24%/yr vs 11.84%/yr for UTIL.L. At a 0.42 correlation, their price movements are largely independent. SPY5.L charges 0.03%/yr vs 0.18%/yr for UTIL.L.

Performance

SPY5.L vs. UTIL.L - Performance Comparison

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

Different Trading Currencies

SPY5.L is traded in USD, while UTIL.L is traded in EUR. To make them comparable, the UTIL.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, SPY5.L achieves a 8.17% return, which is significantly lower than UTIL.L's 11.49% return. Over the past 10 years, SPY5.L has outperformed UTIL.L with an annualized return of 15.24%, while UTIL.L has yielded a comparatively lower 11.84% annualized return.

SPY5.L

• 1D: 0.55%
• 1M: -0.91%
• YTD: 8.17%
• 6M: 7.95%
• 1Y: 23.24%
• 3Y*: 20.84%
• 5Y*: 12.95%
• 10Y*: 15.24%

UTIL.L

• 1D: -0.67%
• 1M: -1.88%
• YTD: 11.49%
• 6M: 12.32%
• 1Y: 23.29%
• 3Y*: 19.19%
• 5Y*: 11.23%
• 10Y*: 11.84%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPY5.L State Street SPDR S&P 500 UCITS ETF (Dist)	8.17%	17.43%	25.36%	26.64%	-18.68%	29.28%	17.52%	30.43%	-5.46%	21.58%
UTIL.L SPDR MSCI Europe Utilities UCITS ETF	11.49%	51.98%	-4.93%	16.67%	-12.37%	0.89%	21.72%	26.80%	-1.46%	24.75%

Correlation

The correlation between SPY5.L and UTIL.L is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.36
Correlation (10Y) Calculated over the trailing 10-year period	0.39
Correlation (All Time) Calculated using the full available price history since Dec 9, 2014	0.42

The correlation between SPY5.L and UTIL.L shifts across timeframes, from 0.20 (3 years) to 0.42 (all time), reflecting how their relationship changes across market environments.

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

Sectors	SPY5.L	UTIL.L
Technology	39.1%	-
Financial Services	11.1%	-
Communication Services	10.8%	-
Consumer Cyclical	9.9%	-
Healthcare	8.4%	-
Industrials	7.8%	4.7%
Consumer Defensive	4.5%	-
Energy	3.2%	-
Utilities	2.1%	95.3%
Real Estate	1.8%	-
Basic Materials	1.3%	-

Return for Risk

SPY5.L vs. UTIL.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: 68
SPY5.L Sharpe Ratio Rank: 66
SPY5.L Sortino Ratio Rank: 72
SPY5.L Omega Ratio Rank: 66
SPY5.L Calmar Ratio Rank: 64
SPY5.L Martin Ratio Rank: 71

UTIL.L

UTIL.L Risk / Return Rank: 62
UTIL.L Sharpe Ratio Rank: 59
UTIL.L Sortino Ratio Rank: 54
UTIL.L Omega Ratio Rank: 58
UTIL.L Calmar Ratio Rank: 78
UTIL.L Martin Ratio Rank: 60

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. UTIL.L - Risk-Adjusted Trends Comparison

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

	SPY5.L	UTIL.L	Difference
Sharpe ratio: Return per unit of total volatility	1.94	1.40	+0.54
Sortino ratio: Return per unit of downside risk	2.90	1.86	+1.03
Omega ratio: Gain probability vs. loss probability	1.35	1.25	+0.10
Calmar ratio: Return relative to maximum drawdown	2.83	2.58	+0.25
Martin ratio: Return relative to average drawdown	11.74	6.85	+4.89

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

The current SPY5.L Sharpe Ratio is 1.94, which is higher than the UTIL.L Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of SPY5.L and UTIL.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.

Drawdowns

SPY5.L vs. UTIL.L - Drawdown Comparison

The maximum SPY5.L drawdown since its inception was -33.89%, roughly equal to the maximum UTIL.L drawdown of -35.43%. Use the drawdown chart below to compare losses from any high point for SPY5.L and UTIL.L.

Drawdown Indicators

	SPY5.L	UTIL.L	Difference
Max Drawdown Largest peak-to-trough decline	-33.89%	-35.43%	+1.54%
Max Drawdown (1Y) Largest decline over 1 year	-8.18%	-8.98%	+0.80%
Max Drawdown (3Y) Largest decline over 3 years	-18.36%	-17.76%	-0.60%
Max Drawdown (5Y) Largest decline over 5 years	-24.37%	-33.85%	+9.48%
Max Drawdown (10Y) Largest decline over 10 years	-33.89%	-35.43%	+1.54%
Current Drawdown Current decline from peak	-2.48%	-6.11%	+3.63%
Average Drawdown Average peak-to-trough decline	-3.68%	-8.22%	+4.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.98%	3.39%	-1.41%

Volatility

SPY5.L vs. UTIL.L - Volatility Comparison

State Street SPDR S&P 500 UCITS ETF (Dist) (SPY5.L) has a higher volatility of 3.95% compared to SPDR MSCI Europe Utilities UCITS ETF (UTIL.L) at 3.36%. This indicates that SPY5.L's price experiences larger fluctuations and is considered to be riskier than UTIL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPY5.L	UTIL.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.95%	3.36%	+0.59%
Volatility (6M) Calculated over the trailing 6-month period	9.15%	14.09%	-4.94%
Volatility (1Y) Calculated over the trailing 1-year period	12.02%	16.58%	-4.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.99%	19.07%	-3.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.23%	19.19%	-2.96%

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

SPY5.L has a 0.03% expense ratio, which is lower than UTIL.L's 0.18% 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

SPY5.L vs. UTIL.L - Dividend Comparison

SPY5.L's dividend yield for the trailing twelve months is around 0.93%, while UTIL.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPY5.L State Street SPDR S&P 500 UCITS ETF (Dist)	0.93%	0.97%	1.06%	1.19%	1.40%	0.99%	1.28%	1.44%	1.77%	1.51%	1.64%	1.73%
UTIL.L SPDR MSCI Europe Utilities 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%

Frequently Asked Questions

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

SPY5.L and UTIL.L have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

On fees, SPY5.L is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

SPY5.L is cheaper with a 0.03% expense ratio, compared with 0.18% for UTIL.L.

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

SPY5.L is categorized as S&P 500, while UTIL.L is Utilities Equities. SPY5.L tracks S&P 500 Index, while UTIL.L tracks MSCI World/Utilities NR USD. Their fees differ too: 0.03% for SPY5.L and 0.18% for UTIL.L.