SRSA.L vs. SPXS.L
SRSA.L (iShares MSCI South Africa UCITS ETF USD (Acc)) and SPXS.L (Invesco S&P 500 UCITS ETF) are both Global Equities funds - SRSA.L tracks the iShares MSCI South Africa UCITS ETF USD (Acc) while SPXS.L tracks the Invesco S&P 500 UCITS ETF. Both are passively managed. Over the past 10 years, SRSA.L returned 6.41%/yr vs -27.53%/yr for SPXS.L. At a 0.47 correlation, their price movements are largely independent. SRSA.L charges 0.65%/yr vs 0.05%/yr for SPXS.L.
Performance
SRSA.L vs. SPXS.L - Performance Comparison
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Different Trading Currencies
SRSA.L is traded in GBp, while SPXS.L is traded in USD. To make them comparable, the SPXS.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, SRSA.L achieves a -4.79% return, which is significantly lower than SPXS.L's 9.88% return. Over the past 10 years, SRSA.L has outperformed SPXS.L with an annualized return of 6.41%, while SPXS.L has yielded a comparatively lower -27.53% annualized return.
SRSA.L
- 1D
- 1.37%
- 1M
- -5.51%
- 6M
- -10.99%
- YTD
- -4.79%
- 1Y
- 31.31%
- 3Y*
- 20.62%
- 5Y*
- 11.36%
- 10Y*
- 6.41%
SPXS.L
- 1D
- 0.00%
- 1M
- -0.81%
- 6M
- 9.42%
- YTD
- 9.88%
- 1Y
- -98.79%
- 3Y*
- -74.39%
- 5Y*
- -54.77%
- 10Y*
- -27.53%
SRSA.L vs. SPXS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SRSA.L iShares MSCI South Africa UCITS ETF USD (Acc) | -4.79% | 65.31% | 9.25% | -5.19% | 7.61% | 5.31% | -5.99% | 5.20% | -21.09% | 24.74% |
SPXS.L Invesco S&P 500 UCITS ETF | 9.88% | -98.91% | 27.76% | 20.65% | -8.84% | 30.87% | 14.43% | 25.88% | 0.43% | 11.11% |
Correlation
The correlation between SRSA.L and SPXS.L is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.33 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since May 20, 2010 | 0.47 |
The correlation between SRSA.L and SPXS.L shifts across timeframes, from 0.32 (3 years) to 0.47 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SRSA.L vs. SPXS.L — Risk / Return Rank
SRSA.L
SPXS.L
SRSA.L vs. SPXS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI South Africa UCITS ETF USD (Acc) (SRSA.L) and Invesco S&P 500 UCITS ETF (SPXS.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.
| SRSA.L | SPXS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.01 | ||
| Sortino ratioReturn per unit of downside risk | +2.26 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 0.52 | +0.67 |
| Calmar ratioReturn relative to maximum drawdown | 1.34 | -1.00 | +2.34 |
| Martin ratioReturn relative to average drawdown | 2.92 | -1.23 | +4.15 |
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Drawdowns
SRSA.L vs. SPXS.L - Drawdown Comparison
The maximum SRSA.L drawdown since its inception was -52.58%, smaller than the maximum SPXS.L drawdown of -99.07%. Use the drawdown chart below to compare losses from any high point for SRSA.L and SPXS.L.
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Drawdown Indicators
| SRSA.L | SPXS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.58% | -99.07% | +46.49% |
Max Drawdown (1Y)Largest decline over 1 year | -23.06% | -99.07% | +76.01% |
Max Drawdown (3Y)Largest decline over 3 years | -27.05% | -99.07% | +72.02% |
Max Drawdown (5Y)Largest decline over 5 years | -27.76% | -99.07% | +71.31% |
Max Drawdown (10Y)Largest decline over 10 years | -52.58% | -99.07% | +46.49% |
Current DrawdownCurrent decline from peak | -20.04% | -98.92% | +78.88% |
Average DrawdownAverage peak-to-trough decline | -16.96% | -7.34% | -9.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.60% | 80.59% | -69.99% |
Volatility
SRSA.L vs. SPXS.L - Volatility Comparison
iShares MSCI South Africa UCITS ETF USD (Acc) (SRSA.L) has a higher volatility of 6.81% compared to Invesco S&P 500 UCITS ETF (SPXS.L) at 2.88%. This indicates that SRSA.L's price experiences larger fluctuations and is considered to be riskier than SPXS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SRSA.L | SPXS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.81% | 2.88% | +3.93% |
Volatility (6M)Calculated over the trailing 6-month period | 25.83% | 9.25% | +16.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.27% | 99.46% | -69.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.66% | 46.95% | -18.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.97% | 35.32% | -3.35% |
SRSA.L vs. SPXS.L - Expense Ratio Comparison
SRSA.L has a 0.65% expense ratio, which is higher than SPXS.L's 0.05% expense ratio.
Dividends
SRSA.L vs. SPXS.L - Dividend Comparison
Neither SRSA.L nor SPXS.L has paid dividends to shareholders.
Frequently Asked Questions
SRSA.L and SPXS.L have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPXS.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPXS.L is cheaper with a 0.05% expense ratio, compared with 0.65% for SRSA.L.
SRSA.L tracks iShares MSCI South Africa UCITS ETF USD (Acc), while SPXS.L tracks Invesco S&P 500 UCITS ETF. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.65% for SRSA.L and 0.05% for SPXS.L.
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