WSML.L vs. SPXS.L
WSML.L (iShares MSCI World Small Cap UCITS ETF USD (Acc)) and SPXS.L (Invesco S&P 500 UCITS ETF) are both Global Equities funds - WSML.L tracks the MSCI World Small Cap Index while SPXS.L tracks the Invesco S&P 500 UCITS ETF. Both are passively managed. Over the past 5 years, WSML.L returned 7.83%/yr vs -54.92%/yr for SPXS.L. Their correlation of 0.84 suggests significant overlap in exposure. WSML.L charges 0.35%/yr vs 0.05%/yr for SPXS.L.
Performance
WSML.L vs. SPXS.L - Performance Comparison
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Returns By Period
In the year-to-date period, WSML.L achieves a 14.65% return, which is significantly higher than SPXS.L's 10.40% return.
WSML.L
- 1D
- 0.19%
- 1M
- -0.86%
- 6M
- 8.10%
- YTD
- 14.65%
- 1Y
- 28.20%
- 3Y*
- 15.82%
- 5Y*
- 7.83%
- 10Y*
- —
SPXS.L
- 1D
- 0.07%
- 1M
- 0.33%
- 6M
- 9.13%
- YTD
- 10.40%
- 1Y
- -98.77%
- 3Y*
- -74.10%
- 5Y*
- -54.92%
- 10Y*
- -27.38%
WSML.L vs. SPXS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
WSML.L iShares MSCI World Small Cap UCITS ETF USD (Acc) | 14.65% | 19.95% | 7.38% | 17.11% | -18.62% | 15.23% | 16.50% | 24.35% | -11.90% |
SPXS.L Invesco S&P 500 UCITS ETF | 10.40% | -98.82% | 25.56% | 27.00% | -18.53% | 29.64% | 17.89% | 30.86% | -2.28% |
Correlation
The correlation between WSML.L and SPXS.L is 0.80, 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 | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 2018 | 0.84 |
The correlation between WSML.L and SPXS.L has been stable across timeframes, ranging from 0.79 to 0.84 - a consistent structural relationship.
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Return for Risk
WSML.L vs. SPXS.L — Risk / Return Rank
WSML.L
SPXS.L
WSML.L vs. SPXS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI World Small Cap UCITS ETF USD (Acc) (WSML.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.
| WSML.L | SPXS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.85 | ||
| Sortino ratioReturn per unit of downside risk | +3.61 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 0.52 | +0.81 |
| Calmar ratioReturn relative to maximum drawdown | 3.10 | -1.00 | +4.10 |
| Martin ratioReturn relative to average drawdown | 11.20 | -1.23 | +12.43 |
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Drawdowns
WSML.L vs. SPXS.L - Drawdown Comparison
The maximum WSML.L drawdown since its inception was -41.14%, smaller than the maximum SPXS.L drawdown of -99.07%. Use the drawdown chart below to compare losses from any high point for WSML.L and SPXS.L.
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Drawdown Indicators
| WSML.L | SPXS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.14% | -99.07% | +57.93% |
Max Drawdown (1Y)Largest decline over 1 year | -9.05% | -99.07% | +90.02% |
Max Drawdown (3Y)Largest decline over 3 years | -20.10% | -99.07% | +78.97% |
Max Drawdown (5Y)Largest decline over 5 years | -30.50% | -99.07% | +68.57% |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.07% | — |
Current DrawdownCurrent decline from peak | -1.61% | -98.90% | +97.29% |
Average DrawdownAverage peak-to-trough decline | -8.67% | -7.67% | -1.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.51% | 80.57% | -78.06% |
Volatility
WSML.L vs. SPXS.L - Volatility Comparison
iShares MSCI World Small Cap UCITS ETF USD (Acc) (WSML.L) has a higher volatility of 4.08% compared to Invesco S&P 500 UCITS ETF (SPXS.L) at 2.73%. This indicates that WSML.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
| WSML.L | SPXS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.08% | 2.73% | +1.35% |
Volatility (6M)Calculated over the trailing 6-month period | 11.94% | 9.23% | +2.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.17% | 99.43% | -84.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.55% | 47.13% | -28.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.52% | 35.27% | -15.75% |
WSML.L vs. SPXS.L - Expense Ratio Comparison
WSML.L has a 0.35% expense ratio, which is higher than SPXS.L's 0.05% expense ratio.
Dividends
WSML.L vs. SPXS.L - Dividend Comparison
Neither WSML.L nor SPXS.L has paid dividends to shareholders.
Frequently Asked Questions
WSML.L and SPXS.L have a correlation of 0.80, 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 0.35% for WSML.L.
WSML.L tracks MSCI World Small Cap Index, while SPXS.L tracks Invesco S&P 500 UCITS ETF. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.35% for WSML.L and 0.05% for SPXS.L.
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