USPA.L vs. 500P.L

Last updated Jul 16, 2026

USPA.L (Franklin S&P 500 Paris Aligned Climate UCITS ETF) and 500P.L (Franklin S&P 500 Paris Aligned Climate UCITS ETF) are both exchange-traded funds - USPA.L is a Global Equities fund tracking the Franklin S&P 500 Paris Aligned Climate UCITS ETF, while 500P.L is a S&P 500 fund tracking the S&P 500 Net Zero 2050 Paris-Aligned ESG Index. Both are passively managed. Over the past 5 years, USPA.L returned 12.16%/yr vs 12.24%/yr for 500P.L. Their correlation of 0.93 suggests significant overlap in exposure. Both charge a 0.07% expense ratio.

Performance

USPA.L vs. 500P.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin S&P 500 Paris Aligned Climate UCITS ETF (USPA.L) and Franklin S&P 500 Paris Aligned Climate UCITS ETF (500P.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

USPA.L is traded in USD, while 500P.L is traded in GBP. To make them comparable, the 500P.L values have been converted to USD using the latest available exchange rates.

Returns By Period

The year-to-date returns for both investments are quite close, with USPA.L having a 7.03% return and 500P.L slightly higher at 7.18%.

USPA.L

• 1D: -0.31%
• 1M: -0.65%
• 6M: 7.59%
• YTD: 7.03%
• 1Y: 17.98%
• 3Y*: 19.02%
• 5Y*: 12.16%
• 10Y*: —

500P.L

• 1D: 0.00%
• 1M: -0.32%
• 6M: 7.83%
• YTD: 7.18%
• 1Y: 18.15%
• 3Y*: 19.16%
• 5Y*: 12.24%
• 10Y*: —

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

USPA.L vs. 500P.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
USPA.L Franklin S&P 500 Paris Aligned Climate UCITS ETF	7.03%	15.76%	26.74%	30.46%	-22.10%	32.21%	15.88%
500P.L Franklin S&P 500 Paris Aligned Climate UCITS ETF	7.18%	15.87%	26.79%	29.81%	-22.17%	32.82%	16.33%

Correlation

The correlation between USPA.L and 500P.L is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jul 31, 2020	0.93

The correlation between USPA.L and 500P.L has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.

Return for Risk

USPA.L vs. 500P.L — Risk / Return Rank

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

USPA.L

USPA.L Risk / Return Rank: 51
USPA.L Sharpe Ratio Rank: 54
USPA.L Sortino Ratio Rank: 59
USPA.L Omega Ratio Rank: 53
USPA.L Calmar Ratio Rank: 41
USPA.L Martin Ratio Rank: 49

500P.L

500P.L Risk / Return Rank: 50
500P.L Sharpe Ratio Rank: 57
500P.L Sortino Ratio Rank: 55
500P.L Omega Ratio Rank: 57
500P.L Calmar Ratio Rank: 40
500P.L Martin Ratio Rank: 40

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.

USPA.L vs. 500P.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin S&P 500 Paris Aligned Climate UCITS ETF (USPA.L) and Franklin S&P 500 Paris Aligned Climate UCITS ETF (500P.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.

	USPA.L	500P.L	Difference
Sharpe ratio: Return per unit of total volatility	1.50	1.50	0.00
Sortino ratio: Return per unit of downside risk	2.29	2.22	+0.06
Omega ratio: Gain probability vs. loss probability	1.27	1.27	+0.01
Calmar ratio: Return relative to maximum drawdown	1.75	1.69	+0.05
Martin ratio: Return relative to average drawdown	6.61	6.39	+0.22

USPA.L vs. 500P.L - Sharpe Ratio Comparison

The current USPA.L Sharpe Ratio is 1.50, which is comparable to the 500P.L Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of USPA.L and 500P.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

USPA.L vs. 500P.L - Drawdown Comparison

The maximum USPA.L drawdown since its inception was -27.78%, roughly equal to the maximum 500P.L drawdown of -28.73%. Use the drawdown chart below to compare losses from any high point for USPA.L and 500P.L.

Drawdown Indicators

	USPA.L	500P.L	Difference
Max Drawdown Largest peak-to-trough decline	-27.78%	-28.73%	+0.95%
Max Drawdown (1Y) Largest decline over 1 year	-10.58%	-10.77%	+0.19%
Max Drawdown (3Y) Largest decline over 3 years	-18.86%	-18.71%	-0.15%
Max Drawdown (5Y) Largest decline over 5 years	-27.78%	-28.73%	+0.95%
Current Drawdown Current decline from peak	-1.28%	-1.10%	-0.18%
Average Drawdown Average peak-to-trough decline	-5.97%	-6.02%	+0.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.80%	2.85%	-0.05%

Volatility

USPA.L vs. 500P.L - Volatility Comparison

The current volatility for Franklin S&P 500 Paris Aligned Climate UCITS ETF (USPA.L) is 3.42%, while Franklin S&P 500 Paris Aligned Climate UCITS ETF (500P.L) has a volatility of 3.69%. This indicates that USPA.L experiences smaller price fluctuations and is considered to be less risky than 500P.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USPA.L	500P.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.42%	3.69%	-0.27%
Volatility (6M) Calculated over the trailing 6-month period	9.87%	9.33%	+0.54%
Volatility (1Y) Calculated over the trailing 1-year period	12.28%	12.12%	+0.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.63%	16.30%	+0.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.48%	16.22%	+0.26%

USPA.L vs. 500P.L - Expense Ratio Comparison

Both USPA.L and 500P.L have an expense ratio of 0.07%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

USPA.L vs. 500P.L - Dividend Comparison

Neither USPA.L nor 500P.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both USPA.L and 500P.L in my portfolio?

With a correlation of 0.91, USPA.L and 500P.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, USPA.L or 500P.L?

Both ETFs have the same 0.07% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, USPA.L or 500P.L?

USPA.L and 500P.L have the same expense ratio: 0.07% per year.

What is the main difference between USPA.L and 500P.L?

USPA.L is categorized as Global Equities, while 500P.L is S&P 500. USPA.L tracks Franklin S&P 500 Paris Aligned Climate UCITS ETF, while 500P.L tracks S&P 500 Net Zero 2050 Paris-Aligned ESG Index.