USFM.L vs. G500.L

Last updated Jul 18, 2026

USFM.L (UBS ETF (IE) MSCI USA Select Factor Mix UCITS ETF (USD) A-dis) and G500.L (Invesco S&P 500 UCITS ETF GBP Hedged (Acc)) are both exchange-traded funds - USFM.L is a Large Cap Blend Equities fund tracking the Russell 1000 TR USD, while G500.L is a US Equities fund tracking the S&P 500 GBP Daily Hedged Index. Both are passively managed. Over the past 5 years, USFM.L returned 11.53%/yr vs 11.89%/yr for G500.L. A 0.71 correlation means they provide meaningful diversification when combined. USFM.L charges 0.25%/yr vs 0.05%/yr for G500.L.

Performance

USFM.L vs. G500.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in UBS ETF (IE) MSCI USA Select Factor Mix UCITS ETF (USD) A-dis (USFM.L) and Invesco S&P 500 UCITS ETF GBP Hedged (Acc) (G500.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USFM.L achieves a 14.56% return, which is significantly higher than G500.L's 8.63% return.

USFM.L

• 1D: -0.08%
• 1M: 0.29%
• 6M: 10.82%
• YTD: 14.56%
• 1Y: 23.03%
• 3Y*: 17.01%
• 5Y*: 11.53%
• 10Y*: —

G500.L

• 1D: -1.25%
• 1M: -0.62%
• 6M: 7.69%
• YTD: 8.63%
• 1Y: 19.40%
• 3Y*: 18.98%
• 5Y*: 11.89%
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020
USFM.L UBS ETF (IE) MSCI USA Select Factor Mix UCITS ETF (USD) A-dis	14.56%	5.73%	20.11%	10.47%	-3.22%	26.12%	12.77%
G500.L Invesco S&P 500 UCITS ETF GBP Hedged (Acc)	8.63%	17.45%	24.98%	24.88%	-19.98%	28.95%	20.65%

Correlation

The correlation between USFM.L and G500.L is 0.61, 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	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (All Time) Calculated using the full available price history since Jun 30, 2020	0.71

The correlation between USFM.L and G500.L has been stable across timeframes, ranging from 0.61 to 0.71 - a consistent structural relationship.

Return for Risk

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

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

USFM.L

USFM.L Risk / Return Rank: 89
USFM.L Sharpe Ratio Rank: 91
USFM.L Sortino Ratio Rank: 89
USFM.L Omega Ratio Rank: 88
USFM.L Calmar Ratio Rank: 90
USFM.L Martin Ratio Rank: 89

G500.L

G500.L Risk / Return Rank: 67
G500.L Sharpe Ratio Rank: 65
G500.L Sortino Ratio Rank: 70
G500.L Omega Ratio Rank: 64
G500.L Calmar Ratio Rank: 63
G500.L Martin Ratio Rank: 71

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.

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

This table presents a comparison of risk-adjusted performance metrics for UBS ETF (IE) MSCI USA Select Factor Mix UCITS ETF (USD) A-dis (USFM.L) and Invesco S&P 500 UCITS ETF GBP Hedged (Acc) (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.

	USFM.L	G500.L	Difference
Sharpe ratio: Return per unit of total volatility	2.38	1.60	+0.78
Sortino ratio: Return per unit of downside risk	3.26	2.40	+0.86
Omega ratio: Gain probability vs. loss probability	1.42	1.29	+0.13
Calmar ratio: Return relative to maximum drawdown	4.21	2.35	+1.86
Martin ratio: Return relative to average drawdown	14.78	9.47	+5.31

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

The current USFM.L Sharpe Ratio is 2.38, which is higher than the G500.L Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of USFM.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

USFM.L vs. G500.L - Drawdown Comparison

The maximum USFM.L drawdown since its inception was -27.52%, 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 USFM.L and G500.L.

Drawdown Indicators

	USFM.L	G500.L	Difference
Max Drawdown Largest peak-to-trough decline	-27.52%	-25.20%	-2.32%
Max Drawdown (1Y) Largest decline over 1 year	-5.47%	-8.21%	+2.74%
Max Drawdown (3Y) Largest decline over 3 years	-17.40%	-18.22%	+0.82%
Max Drawdown (5Y) Largest decline over 5 years	-17.40%	-25.20%	+7.80%
Current Drawdown Current decline from peak	-1.68%	-1.81%	+0.13%
Average Drawdown Average peak-to-trough decline	-5.73%	-5.31%	-0.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.56%	2.04%	-0.48%

Volatility

USFM.L vs. G500.L - Volatility Comparison

The current volatility for UBS ETF (IE) MSCI USA Select Factor Mix UCITS ETF (USD) A-dis (USFM.L) is 2.63%, while Invesco S&P 500 UCITS ETF GBP Hedged (Acc) (G500.L) has a volatility of 3.04%. This indicates that USFM.L experiences smaller price fluctuations and is considered to be less risky than G500.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USFM.L	G500.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.63%	3.04%	-0.41%
Volatility (6M) Calculated over the trailing 6-month period	7.15%	9.37%	-2.22%
Volatility (1Y) Calculated over the trailing 1-year period	9.70%	12.11%	-2.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.23%	16.00%	-2.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.08%	15.87%	+1.21%

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

USFM.L has a 0.25% 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

USFM.L vs. G500.L - Dividend Comparison

USFM.L's dividend yield for the trailing twelve months is around 1.04%, while G500.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
G500.L Invesco S&P 500 UCITS ETF GBP Hedged (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
USFM.L UBS ETF (IE) MSCI USA Select Factor Mix UCITS ETF (USD) A-dis	1.04%	1.20%	1.14%	1.37%	1.22%	1.01%	1.34%	1.30%	1.37%	0.30%

Frequently Asked Questions

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

USFM.L and G500.L have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

G500.L is cheaper with a 0.05% expense ratio, compared with 0.25% for USFM.L.

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

USFM.L is categorized as Large Cap Blend Equities, while G500.L is US Equities. USFM.L tracks Russell 1000 TR USD, while G500.L tracks S&P 500 GBP Daily Hedged Index. They also come from different issuers: UBS and Invesco. Their fees differ too: 0.25% for USFM.L and 0.05% for G500.L.