UC44.L vs. G500.L

Last updated Jul 16, 2026

UC44.L (UBS ETF (LU) MSCI World Socially Responsible UCITS ETF (USD) A-dis) and G500.L (Invesco S&P 500 UCITS ETF (GBP Hdg)) are both Global Equities funds - UC44.L tracks the MSCI ACWI NR USD while G500.L tracks the Invesco S&P 500 UCITS ETF (GBP Hdg). Both are passively managed. Over the past 5 years, UC44.L returned 9.87%/yr vs 12.15%/yr for G500.L. Their correlation of 0.81 suggests significant overlap in exposure. UC44.L charges 0.22%/yr vs 0.05%/yr for G500.L.

Performance

UC44.L vs. G500.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in UBS ETF (LU) MSCI World Socially Responsible UCITS ETF (USD) A-dis (UC44.L) and Invesco S&P 500 UCITS ETF (GBP Hdg) (G500.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with UC44.L having a 9.61% return and G500.L slightly higher at 9.90%.

UC44.L

• 1D: -1.37%
• 1M: -1.16%
• 6M: 7.98%
• YTD: 9.61%
• 1Y: 17.64%
• 3Y*: 14.16%
• 5Y*: 9.87%
• 10Y*: 12.00%

G500.L

• 1D: -0.05%
• 1M: -0.03%
• 6M: 9.49%
• YTD: 9.90%
• 1Y: 21.08%
• 3Y*: 19.63%
• 5Y*: 12.15%
• 10Y*: —

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

UC44.L vs. G500.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
UC44.L UBS ETF (LU) MSCI World Socially Responsible UCITS ETF (USD) A-dis	9.61%	5.87%	18.31%	22.09%	-15.46%	26.34%	12.01%
G500.L Invesco S&P 500 UCITS ETF (GBP Hdg)	9.90%	17.45%	24.98%	24.88%	-19.98%	28.95%	20.65%

Correlation

The correlation between UC44.L and G500.L is 0.78, 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	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (All Time) Calculated using the full available price history since Jun 30, 2020	0.81

The correlation between UC44.L and G500.L has been stable across timeframes, ranging from 0.78 to 0.83 - a consistent structural relationship.

Return for Risk

UC44.L vs. G500.L — Risk / Return Rank

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

UC44.L

UC44.L Risk / Return Rank: 47
UC44.L Sharpe Ratio Rank: 49
UC44.L Sortino Ratio Rank: 48
UC44.L Omega Ratio Rank: 49
UC44.L Calmar Ratio Rank: 43
UC44.L Martin Ratio Rank: 47

G500.L

G500.L Risk / Return Rank: 71
G500.L Sharpe Ratio Rank: 70
G500.L Sortino Ratio Rank: 75
G500.L Omega Ratio Rank: 69
G500.L Calmar Ratio Rank: 66
G500.L Martin Ratio Rank: 73

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.

UC44.L vs. G500.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) MSCI World Socially Responsible UCITS ETF (USD) A-dis (UC44.L) and Invesco S&P 500 UCITS ETF (GBP Hdg) (G500.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.

	UC44.L	G500.L	Difference
Sharpe ratio: Return per unit of total volatility	1.41	1.81	-0.40
Sortino ratio: Return per unit of downside risk	2.01	2.70	-0.69
Omega ratio: Gain probability vs. loss probability	1.26	1.33	-0.07
Calmar ratio: Return relative to maximum drawdown	1.83	2.65	-0.82
Martin ratio: Return relative to average drawdown	6.39	10.68	-4.29

UC44.L vs. G500.L - Sharpe Ratio Comparison

The current UC44.L Sharpe Ratio is 1.41, which is comparable to the G500.L Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of UC44.L and G500.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

UC44.L vs. G500.L - Drawdown Comparison

The maximum UC44.L drawdown since its inception was -52.68%, which is greater than G500.L's maximum drawdown of -25.20%. Use the drawdown chart below to compare losses from any high point for UC44.L and G500.L.

Drawdown Indicators

	UC44.L	G500.L	Difference
Max Drawdown Largest peak-to-trough decline	-52.68%	-25.20%	-27.48%
Max Drawdown (1Y) Largest decline over 1 year	-9.61%	-8.21%	-1.40%
Max Drawdown (3Y) Largest decline over 3 years	-20.15%	-18.22%	-1.93%
Max Drawdown (5Y) Largest decline over 5 years	-22.39%	-25.20%	+2.81%
Max Drawdown (10Y) Largest decline over 10 years	-24.11%	—	—
Current Drawdown Current decline from peak	-3.26%	-0.66%	-2.60%
Average Drawdown Average peak-to-trough decline	-8.70%	-5.31%	-3.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.75%	2.04%	+0.71%

Volatility

UC44.L vs. G500.L - Volatility Comparison

UBS ETF (LU) MSCI World Socially Responsible UCITS ETF (USD) A-dis (UC44.L) has a higher volatility of 4.70% compared to Invesco S&P 500 UCITS ETF (GBP Hdg) (G500.L) at 2.79%. This indicates that UC44.L's price experiences larger fluctuations and is considered to be riskier than G500.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UC44.L	G500.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.70%	2.79%	+1.91%
Volatility (6M) Calculated over the trailing 6-month period	10.06%	9.28%	+0.78%
Volatility (1Y) Calculated over the trailing 1-year period	12.49%	12.06%	+0.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.61%	15.99%	-1.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.92%	15.87%	-0.95%

UC44.L vs. G500.L - Expense Ratio Comparison

UC44.L has a 0.22% expense ratio, which is higher than G500.L's 0.05% 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

UC44.L vs. G500.L - Dividend Comparison

UC44.L's dividend yield for the trailing twelve months is around 0.86%, while G500.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
G500.L Invesco S&P 500 UCITS ETF (GBP Hdg)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UC44.L UBS ETF (LU) MSCI World Socially Responsible UCITS ETF (USD) A-dis	0.86%	1.01%	1.05%	1.13%	1.33%	1.01%	1.23%	1.70%	1.88%	1.91%	1.81%	1.78%

Frequently Asked Questions

Can I hold both UC44.L and G500.L in my portfolio?

UC44.L and G500.L have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UC44.L or G500.L?

On fees, G500.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UC44.L or G500.L?

G500.L is cheaper with a 0.05% expense ratio, compared with 0.22% for UC44.L.

What is the main difference between UC44.L and G500.L?

UC44.L tracks MSCI ACWI NR USD, while G500.L tracks Invesco S&P 500 UCITS ETF (GBP Hdg). They also come from different issuers: UBS and Invesco. Their fees differ too: 0.22% for UC44.L and 0.05% for G500.L.