UC13.L vs. SPEX.L

Last updated Jun 5, 2026

UC13.L (UBS Core S&P 500 UCITS ETF USD dis) and SPEX.L (Invesco S&P 500 Equal Weight UCITS ETF Acc) are both S&P 500 funds - UC13.L tracks the S&P 500 Index while SPEX.L tracks the S&P 500 Equal Weight Index. Both are passively managed. Over the past 5 years, UC13.L returned 13.62%/yr vs 9.41%/yr for SPEX.L. Their correlation of 0.81 suggests significant overlap in exposure. UC13.L charges 0.03%/yr vs 0.20%/yr for SPEX.L.

Performance

UC13.L vs. SPEX.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in UBS Core S&P 500 UCITS ETF USD dis (UC13.L) and Invesco S&P 500 Equal Weight UCITS ETF Acc (SPEX.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with UC13.L having a 9.92% return and SPEX.L slightly lower at 9.62%.

UC13.L

• 1D: -0.02%
• 1M: 5.52%
• YTD: 9.92%
• 6M: 9.83%
• 1Y: 27.83%
• 3Y*: 17.70%
• 5Y*: 13.62%
• 10Y*: 14.50%

SPEX.L

• 1D: 0.47%
• 1M: 4.77%
• YTD: 9.62%
• 6M: 10.01%
• 1Y: 21.02%
• 3Y*: 12.25%
• 5Y*: 9.41%
• 10Y*: —

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

UC13.L vs. SPEX.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
UC13.L UBS Core S&P 500 UCITS ETF USD dis	9.92%	8.39%	25.77%	18.14%	-10.01%	19.17%
SPEX.L Invesco S&P 500 Equal Weight UCITS ETF Acc	9.62%	3.90%	14.09%	7.64%	-1.17%	28.05%

Correlation

The correlation between UC13.L and SPEX.L is 0.66, 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	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (All Time) Calculated using the full available price history since Apr 9, 2021	0.81

The correlation between UC13.L and SPEX.L shifts across timeframes, from 0.66 (1 year) to 0.82 (5 years), reflecting how their relationship changes across market environments.

UC13.L vs. SPEX.L - Sectors Allocation Comparison

Sectors	UC13.L	SPEX.L
Technology	37.9%	20.1%
Financial Services	11.3%	14.2%
Communication Services	10.9%	3.9%
Consumer Cyclical	9.8%	9.9%
Healthcare	8.3%	11.2%
Industrials	7.8%	14.1%
Consumer Defensive	4.8%	6.5%
Energy	3.4%	4.2%
Utilities	2.2%	5.8%
Real Estate	1.9%	6.2%
Basic Materials	1.7%	3.9%

Return for Risk

UC13.L vs. SPEX.L — Risk / Return Rank

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

UC13.L

UC13.L Risk / Return Rank: 77
UC13.L Sharpe Ratio Rank: 83
UC13.L Sortino Ratio Rank: 81
UC13.L Omega Ratio Rank: 84
UC13.L Calmar Ratio Rank: 72
UC13.L Martin Ratio Rank: 69

SPEX.L

SPEX.L Risk / Return Rank: 68
SPEX.L Sharpe Ratio Rank: 67
SPEX.L Sortino Ratio Rank: 67
SPEX.L Omega Ratio Rank: 66
SPEX.L Calmar Ratio Rank: 74
SPEX.L Martin Ratio Rank: 66

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.

UC13.L vs. SPEX.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS Core S&P 500 UCITS ETF USD dis (UC13.L) and Invesco S&P 500 Equal Weight UCITS ETF Acc (SPEX.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.

	UC13.L	SPEX.L	Difference
Sharpe ratio: Return per unit of total volatility	2.65	2.18	+0.47
Sortino ratio: Return per unit of downside risk	3.55	3.01	+0.54
Omega ratio: Gain probability vs. loss probability	1.50	1.39	+0.11
Calmar ratio: Return relative to maximum drawdown	3.54	3.65	-0.11
Martin ratio: Return relative to average drawdown	12.58	11.85	+0.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UC13.L vs. SPEX.L - Sharpe Ratio Comparison

The current UC13.L Sharpe Ratio is 2.65, which is comparable to the SPEX.L Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of UC13.L and SPEX.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

	UC13.L	SPEX.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.65	2.18	+0.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.94	0.67	+0.27
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.93	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.89	0.80	+0.08

Drawdowns

UC13.L vs. SPEX.L - Drawdown Comparison

The maximum UC13.L drawdown since its inception was -25.59%, which is greater than SPEX.L's maximum drawdown of -19.65%. Use the drawdown chart below to compare losses from any high point for UC13.L and SPEX.L.

Drawdown Indicators

	UC13.L	SPEX.L	Difference
Max Drawdown Largest peak-to-trough decline	-25.59%	-19.65%	-5.94%
Max Drawdown (1Y) Largest decline over 1 year	-7.82%	-5.73%	-2.09%
Max Drawdown (3Y) Largest decline over 3 years	-21.52%	-19.65%	-1.87%
Max Drawdown (5Y) Largest decline over 5 years	-21.52%	-19.65%	-1.87%
Max Drawdown (10Y) Largest decline over 10 years	-25.59%	—	—
Current Drawdown Current decline from peak	-0.24%	0.00%	-0.24%
Average Drawdown Average peak-to-trough decline	-3.55%	-4.12%	+0.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.21%	1.77%	+0.44%

Volatility

UC13.L vs. SPEX.L - Volatility Comparison

UBS Core S&P 500 UCITS ETF USD dis (UC13.L) has a higher volatility of 2.63% compared to Invesco S&P 500 Equal Weight UCITS ETF Acc (SPEX.L) at 1.97%. This indicates that UC13.L's price experiences larger fluctuations and is considered to be riskier than SPEX.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UC13.L	SPEX.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.63%	1.97%	+0.66%
Volatility (6M) Calculated over the trailing 6-month period	7.11%	6.62%	+0.49%
Volatility (1Y) Calculated over the trailing 1-year period	10.47%	9.62%	+0.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.45%	14.05%	+0.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.72%	14.60%	+1.12%

UC13.L vs. SPEX.L - Expense Ratio Comparison

UC13.L has a 0.03% expense ratio, which is lower than SPEX.L's 0.20% 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

UC13.L vs. SPEX.L - Dividend Comparison

UC13.L's dividend yield for the trailing twelve months is around 0.01%, while SPEX.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPEX.L Invesco S&P 500 Equal Weight UCITS ETF Acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UC13.L UBS Core S&P 500 UCITS ETF USD dis	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.02%	0.02%	0.02%	0.02%

Frequently Asked Questions

Can I hold both UC13.L and SPEX.L in my portfolio?

UC13.L and SPEX.L have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UC13.L or SPEX.L?

On fees, UC13.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, UC13.L or SPEX.L?

UC13.L is cheaper with a 0.03% expense ratio, compared with 0.20% for SPEX.L.

What is the main difference between UC13.L and SPEX.L?

UC13.L tracks S&P 500 Index, while SPEX.L tracks S&P 500 Equal Weight Index. They also come from different issuers: UBS and Invesco. Their fees differ too: 0.03% for UC13.L and 0.20% for SPEX.L.