USPA.L vs. SPYL.L
USPA.L (Franklin S&P 500 Paris Aligned Climate UCITS ETF USD (Acc)) and SPYL.L (SPDR S&P 500 UCITS ETF USD Acc) are both S&P 500 funds - USPA.L tracks the S&P 500 Net Zero 2050 Paris-Aligned ESG Index while SPYL.L tracks the S&P 500. Both are passively managed. Over the past year, USPA.L returned 16.97% vs 20.00% for SPYL.L. With a 0.95 correlation, they move nearly in lockstep. USPA.L charges 0.07%/yr vs 0.03%/yr for SPYL.L.
Performance
USPA.L vs. SPYL.L - Performance Comparison
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Returns By Period
In the year-to-date period, USPA.L achieves a 6.42% return, which is significantly lower than SPYL.L's 9.03% return.
USPA.L
- 1D
- -0.92%
- 1M
- -0.37%
- 6M
- 6.70%
- YTD
- 6.42%
- 1Y
- 16.97%
- 3Y*
- 18.65%
- 5Y*
- 12.03%
- 10Y*
- —
SPYL.L
- 1D
- -1.23%
- 1M
- -0.54%
- 6M
- 8.01%
- YTD
- 9.03%
- 1Y
- 20.00%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
USPA.L vs. SPYL.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
USPA.L Franklin S&P 500 Paris Aligned Climate UCITS ETF USD (Acc) | 6.42% | 15.76% | 26.74% | 16.86% |
SPYL.L SPDR S&P 500 UCITS ETF USD Acc | 9.03% | 17.38% | 25.35% | 14.40% |
Correlation
The correlation between USPA.L and SPYL.L is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Oct 31, 2023 | 0.95 |
The correlation between USPA.L and SPYL.L has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.
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Return for Risk
USPA.L vs. SPYL.L — Risk / Return Rank
USPA.L
SPYL.L
USPA.L vs. SPYL.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 USD (Acc) (USPA.L) and SPDR S&P 500 UCITS ETF USD Acc (SPYL.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 | SPYL.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.29 | ||
| Sortino ratioReturn per unit of downside risk | -0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.30 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.60 | 2.45 | -0.85 |
| Martin ratioReturn relative to average drawdown | 6.04 | 9.84 | -3.80 |
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Drawdowns
USPA.L vs. SPYL.L - Drawdown Comparison
The maximum USPA.L drawdown since its inception was -27.78%, which is greater than SPYL.L's maximum drawdown of -20.80%. Use the drawdown chart below to compare losses from any high point for USPA.L and SPYL.L.
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Drawdown Indicators
| USPA.L | SPYL.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.78% | -20.80% | -6.98% |
Max Drawdown (1Y)Largest decline over 1 year | -10.58% | -8.14% | -2.44% |
Max Drawdown (3Y)Largest decline over 3 years | -18.86% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -27.78% | — | — |
Current DrawdownCurrent decline from peak | -1.85% | -1.70% | -0.15% |
Average DrawdownAverage peak-to-trough decline | -5.97% | -1.78% | -4.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.80% | 2.03% | +0.77% |
Volatility
USPA.L vs. SPYL.L - Volatility Comparison
Franklin S&P 500 Paris Aligned Climate UCITS ETF USD (Acc) (USPA.L) has a higher volatility of 3.49% compared to SPDR S&P 500 UCITS ETF USD Acc (SPYL.L) at 2.98%. This indicates that USPA.L's price experiences larger fluctuations and is considered to be riskier than SPYL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USPA.L | SPYL.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.49% | 2.98% | +0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 9.90% | 9.29% | +0.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.31% | 11.99% | +0.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.63% | 24.53% | -7.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.48% | 24.53% | -8.05% |
USPA.L vs. SPYL.L - Expense Ratio Comparison
USPA.L has a 0.07% expense ratio, which is higher than SPYL.L's 0.03% 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
USPA.L vs. SPYL.L - Dividend Comparison
Neither USPA.L nor SPYL.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.96, USPA.L and SPYL.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.
On fees, SPYL.L is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYL.L is cheaper with a 0.03% expense ratio, compared with 0.07% for USPA.L.
USPA.L tracks S&P 500 Net Zero 2050 Paris-Aligned ESG Index, while SPYL.L tracks S&P 500. They also come from different issuers: Franklin and State Street. Their fees differ too: 0.07% for USPA.L and 0.03% for SPYL.L.
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