UC44.L vs. SPXS.L
UC44.L (UBS ETF (LU) MSCI World Socially Responsible UCITS ETF (USD) A-dis) and SPXS.L (Invesco S&P 500 UCITS ETF) are both Global Equities funds - UC44.L tracks the MSCI ACWI NR USD while SPXS.L tracks the Invesco S&P 500 UCITS ETF. Both are passively managed. Over the past 10 years, UC44.L returned 12.00%/yr vs -27.53%/yr for SPXS.L. Their correlation of 0.86 suggests significant overlap in exposure. UC44.L charges 0.22%/yr vs 0.05%/yr for SPXS.L.
Performance
UC44.L vs. SPXS.L - Performance Comparison
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Different Trading Currencies
UC44.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
The year-to-date returns for both investments are quite close, with UC44.L having a 9.61% return and SPXS.L slightly higher at 9.88%. Over the past 10 years, UC44.L has outperformed SPXS.L with an annualized return of 12.00%, while SPXS.L has yielded a comparatively lower -27.53% annualized return.
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%
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%
UC44.L vs. SPXS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% | 14.89% | 24.15% | -2.54% | 12.60% |
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 UC44.L and SPXS.L is 0.79, 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 | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Aug 19, 2011 | 0.86 |
The correlation between UC44.L and SPXS.L has been stable across timeframes, ranging from 0.79 to 0.88 - a consistent structural relationship.
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Return for Risk
UC44.L vs. SPXS.L — Risk / Return Rank
UC44.L
SPXS.L
UC44.L vs. SPXS.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 (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.
| UC44.L | SPXS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.40 | ||
| Sortino ratioReturn per unit of downside risk | +2.79 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 0.52 | +0.74 |
| Calmar ratioReturn relative to maximum drawdown | 1.83 | -1.00 | +2.82 |
| Martin ratioReturn relative to average drawdown | 6.39 | -1.23 | +7.62 |
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Drawdowns
UC44.L vs. SPXS.L - Drawdown Comparison
The maximum UC44.L drawdown since its inception was -52.68%, smaller than the maximum SPXS.L drawdown of -99.07%. Use the drawdown chart below to compare losses from any high point for UC44.L and SPXS.L.
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Drawdown Indicators
| UC44.L | SPXS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.68% | -99.07% | +46.39% |
Max Drawdown (1Y)Largest decline over 1 year | -9.61% | -99.07% | +89.46% |
Max Drawdown (3Y)Largest decline over 3 years | -20.15% | -99.07% | +78.92% |
Max Drawdown (5Y)Largest decline over 5 years | -22.39% | -99.07% | +76.68% |
Max Drawdown (10Y)Largest decline over 10 years | -24.11% | -99.07% | +74.96% |
Current DrawdownCurrent decline from peak | -3.26% | -98.92% | +95.66% |
Average DrawdownAverage peak-to-trough decline | -8.70% | -7.34% | -1.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.75% | 80.59% | -77.84% |
Volatility
UC44.L vs. SPXS.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 (SPXS.L) at 2.88%. This indicates that UC44.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
| UC44.L | SPXS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.70% | 2.88% | +1.82% |
Volatility (6M)Calculated over the trailing 6-month period | 10.06% | 9.25% | +0.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.49% | 99.46% | -86.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.61% | 46.95% | -32.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.92% | 35.32% | -20.40% |
UC44.L vs. SPXS.L - Expense Ratio Comparison
UC44.L has a 0.22% expense ratio, which is higher than SPXS.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. SPXS.L - Dividend Comparison
UC44.L's dividend yield for the trailing twelve months is around 0.86%, while SPXS.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPXS.L Invesco S&P 500 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% |
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
UC44.L and SPXS.L have a correlation of 0.79, 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 0.22% for UC44.L.
UC44.L tracks MSCI ACWI NR USD, while SPXS.L tracks Invesco S&P 500 UCITS ETF. They also come from different issuers: UBS and Invesco. Their fees differ too: 0.22% for UC44.L and 0.05% for SPXS.L.
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