XAT1.DE vs. D500.DE
XAT1.DE (Invesco AT1 Capital Bond ETF EUR Hedged Dist) and D500.DE (Invesco S&P 500 UCITS ETF Dist) are both exchange-traded funds - XAT1.DE is a Corporate Bonds fund tracking the Markit iBoxx USD Contingent Convertible Liquid Developed Market AT1 (8% Issuer Cap) TR Index - USD, while D500.DE is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, XAT1.DE returned 0.67%/yr vs 15.48%/yr for D500.DE. At a 0.42 correlation, their price movements are largely independent. XAT1.DE charges 0.39%/yr vs 0.05%/yr for D500.DE.
Performance
XAT1.DE vs. D500.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XAT1.DE achieves a 0.23% return, which is significantly lower than D500.DE's 11.58% return.
XAT1.DE
- 1D
- -0.09%
- 1M
- -1.42%
- YTD
- 0.23%
- 6M
- 0.99%
- 1Y
- 5.49%
- 3Y*
- 8.79%
- 5Y*
- 0.67%
- 10Y*
- —
D500.DE
- 1D
- -0.31%
- 1M
- 4.52%
- YTD
- 11.58%
- 6M
- 11.08%
- 1Y
- 25.86%
- 3Y*
- 19.34%
- 5Y*
- 15.48%
- 10Y*
- 15.85%
XAT1.DE vs. D500.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
XAT1.DE Invesco AT1 Capital Bond ETF EUR Hedged Dist | 0.23% | 8.61% | 8.34% | -0.02% | -12.08% | 2.58% | 5.80% | 15.11% | -0.93% |
D500.DE Invesco S&P 500 UCITS ETF Dist | 11.58% | 4.86% | 32.62% | 22.70% | -13.34% | 43.50% | 9.36% | 35.52% | -5.58% |
Correlation
The correlation between XAT1.DE and D500.DE is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2018 | 0.43 |
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Return for Risk
XAT1.DE vs. D500.DE — Risk / Return Rank
XAT1.DE
D500.DE
XAT1.DE vs. D500.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco AT1 Capital Bond ETF EUR Hedged Dist (XAT1.DE) and Invesco S&P 500 UCITS ETF Dist (D500.DE). 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.
| XAT1.DE | D500.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.09 | ||
| Sortino ratioReturn per unit of downside risk | -1.38 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.42 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.55 | 3.60 | -2.05 |
| Martin ratioReturn relative to average drawdown | 6.31 | 12.88 | -6.57 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XAT1.DE | D500.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.15 | 2.24 | -1.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.08 | 1.01 | -0.93 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.98 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.88 | -0.57 |
Drawdowns
XAT1.DE vs. D500.DE - Drawdown Comparison
The maximum XAT1.DE drawdown since its inception was -28.95%, smaller than the maximum D500.DE drawdown of -33.57%. Use the drawdown chart below to compare losses from any high point for XAT1.DE and D500.DE.
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Drawdown Indicators
| XAT1.DE | D500.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.95% | -33.57% | +4.62% |
Max Drawdown (1Y)Largest decline over 1 year | -3.63% | -7.14% | +3.51% |
Max Drawdown (3Y)Largest decline over 3 years | -4.67% | -23.29% | +18.62% |
Max Drawdown (5Y)Largest decline over 5 years | -27.74% | -23.29% | -4.45% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.57% | — |
Current DrawdownCurrent decline from peak | -1.42% | -0.31% | -1.11% |
Average DrawdownAverage peak-to-trough decline | -6.38% | -4.25% | -2.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.89% | 2.00% | -1.11% |
Volatility
XAT1.DE vs. D500.DE - Volatility Comparison
The current volatility for Invesco AT1 Capital Bond ETF EUR Hedged Dist (XAT1.DE) is 1.69%, while Invesco S&P 500 UCITS ETF Dist (D500.DE) has a volatility of 2.66%. This indicates that XAT1.DE experiences smaller price fluctuations and is considered to be less risky than D500.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XAT1.DE | D500.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.69% | 2.66% | -0.97% |
Volatility (6M)Calculated over the trailing 6-month period | 4.41% | 7.54% | -3.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.91% | 11.59% | -6.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.18% | 15.17% | -6.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.25% | 16.08% | -5.83% |
XAT1.DE vs. D500.DE - Expense Ratio Comparison
XAT1.DE has a 0.39% expense ratio, which is higher than D500.DE's 0.05% expense ratio.
Dividends
XAT1.DE vs. D500.DE - Dividend Comparison
XAT1.DE's dividend yield for the trailing twelve months is around 5.94%, more than D500.DE's 1.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
D500.DE Invesco S&P 500 UCITS ETF Dist | 1.08% | 1.18% | 1.27% | 1.54% | 2.63% | 2.72% | 3.53% | 2.34% | 2.08% | 1.67% | 1.70% | 0.29% |
XAT1.DE Invesco AT1 Capital Bond ETF EUR Hedged Dist | 5.94% | 5.95% | 6.40% | 6.17% | 6.02% | 4.42% | 5.23% | 5.59% | 2.63% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XAT1.DE and D500.DE have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, D500.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
D500.DE is cheaper with a 0.05% expense ratio, compared with 0.39% for XAT1.DE.
XAT1.DE is categorized as Corporate Bonds, while D500.DE is S&P 500. XAT1.DE tracks Markit iBoxx USD Contingent Convertible Liquid Developed Market AT1 (8% Issuer Cap) TR Index - USD, while D500.DE tracks S&P 500 Index. Their fees differ too: 0.39% for XAT1.DE and 0.05% for D500.DE.
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