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XDPG.L vs. IUSA.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XDPG.L vs. IUSA.L

Last updated Jun 5, 2026

XDPG.L (Xtrackers S&P 500 UCITS ETF 2C - GBP Hedged) and IUSA.L (iShares S&P 500 UCITS Dist) are both S&P 500 funds - XDPG.L tracks the S&P 500 GBP Hedged while IUSA.L tracks the S&P 500 Index. Both are passively managed. Over the past 10 years, XDPG.L returned 13.60%/yr vs 16.52%/yr for IUSA.L. A 0.77 correlation means they provide meaningful diversification when combined. XDPG.L charges 0.09%/yr vs 0.07%/yr for IUSA.L.

Performance

XDPG.L vs. IUSA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Xtrackers S&P 500 UCITS ETF 2C - GBP Hedged (XDPG.L) and iShares S&P 500 UCITS Dist (IUSA.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XDPG.L achieves a 9.91% return, which is significantly lower than IUSA.L's 10.67% return. Over the past 10 years, XDPG.L has underperformed IUSA.L with an annualized return of 13.60%, while IUSA.L has yielded a comparatively higher 16.52% annualized return.

XDPG.L

1D
0.02%
1M
4.52%
YTD
9.91%
6M
10.64%
1Y
27.07%
3Y*
21.39%
5Y*
12.48%
10Y*
13.60%

IUSA.L

1D
0.04%
1M
5.55%
YTD
10.67%
6M
10.66%
1Y
29.55%
3Y*
19.42%
5Y*
15.33%
10Y*
16.52%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XDPG.L vs. IUSA.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XDPG.L
Xtrackers S&P 500 UCITS ETF 2C - GBP Hedged		9.91%16.95%24.90%24.82%-20.73%28.87%15.23%27.55%-7.58%19.91%
IUSA.L
iShares S&P 500 UCITS Dist		10.67%9.70%27.73%20.24%-8.72%31.54%14.15%27.06%0.51%11.19%

Correlation

The correlation between XDPG.L and IUSA.L is 0.78, 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

0.78

Correlation (3Y)
Calculated over the trailing 3-year period

0.78

Correlation (5Y)
Calculated over the trailing 5-year period

0.80

Correlation (10Y)
Calculated over the trailing 10-year period

0.77

Correlation (All Time)
Calculated using the full available price history since Mar 31, 2015

0.77

The correlation between XDPG.L and IUSA.L has been stable across timeframes, ranging from 0.77 to 0.80 - a consistent structural relationship.

XDPG.L vs. IUSA.L - Sectors Allocation Comparison

Sectors
XDPG.L
IUSA.L

Technology

35.6%
38.2%

Financial Services

11.8%
11.1%

Communication Services

11.2%
10.9%

Consumer Cyclical

10.1%
10.0%

Healthcare

8.5%
8.3%

Industrials

8.3%
7.9%

Consumer Defensive

4.9%
4.7%

Energy

3.5%
3.2%

Utilities

2.4%
2.2%

Real Estate

1.9%
1.9%

Basic Materials

1.8%
1.7%

Technology

XDPG.L
35.6%
IUSA.L
38.2%

Financial Services

XDPG.L
11.8%
IUSA.L
11.1%

Communication Services

XDPG.L
11.2%
IUSA.L
10.9%

Consumer Cyclical

XDPG.L
10.1%
IUSA.L
10.0%

Healthcare

XDPG.L
8.5%
IUSA.L
8.3%

Industrials

XDPG.L
8.3%
IUSA.L
7.9%

Consumer Defensive

XDPG.L
4.9%
IUSA.L
4.7%

Energy

XDPG.L
3.5%
IUSA.L
3.2%

Utilities

XDPG.L
2.4%
IUSA.L
2.2%

Real Estate

XDPG.L
1.9%
IUSA.L
1.9%

Basic Materials

XDPG.L
1.8%
IUSA.L
1.7%

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Xtrackers S&P 500 UCITS ETF 2C - GBP Hedged

iShares S&P 500 UCITS Dist

Often compared with XDPG.L:
XDPG.L vs. UC13.LXDPG.L vs. IUES.LXDPG.L vs. XSTC.LXDPG.L vs. LSPU.LXDPG.L vs. PQVM.LXDPG.L vs. LGUG.LXDPG.L vs. EXUS.L
Often compared with IUSA.L:
IUSA.L vs. CSP1.LIUSA.L vs. VUAA.LIUSA.L vs. IAPD.ASIUSA.L vs. SPX5.LIUSA.L vs. SPXP.LIUSA.L vs. VOOIUSA.L vs. IVV

Return for Risk

XDPG.L vs. IUSA.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XDPG.L
XDPG.L Risk / Return Rank: 7373
Overall Rank
XDPG.L Sharpe Ratio Rank: 7272
Sharpe Ratio Rank
XDPG.L Sortino Ratio Rank: 7777
Sortino Ratio Rank
XDPG.L Omega Ratio Rank: 7373
Omega Ratio Rank
XDPG.L Calmar Ratio Rank: 6666
Calmar Ratio Rank
XDPG.L Martin Ratio Rank: 7575
Martin Ratio Rank
IUSA.L
IUSA.L Risk / Return Rank: 8484
Overall Rank
IUSA.L Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
IUSA.L Sortino Ratio Rank: 8585
Sortino Ratio Rank
IUSA.L Omega Ratio Rank: 8686
Omega Ratio Rank
IUSA.L Calmar Ratio Rank: 8181
Calmar Ratio Rank
IUSA.L Martin Ratio Rank: 8080
Martin Ratio Rank
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.

XDPG.L vs. IUSA.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers S&P 500 UCITS ETF 2C - GBP Hedged (XDPG.L) and iShares S&P 500 UCITS Dist (IUSA.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.

XDPG.LIUSA.LDifference
Sharpe ratioReturn per unit of total volatility
2.32
2.82

-0.50

Sortino ratioReturn per unit of downside risk
3.40
3.78

-0.38

Omega ratioGain probability vs. loss probability

1.42

1.53

-0.10

Calmar ratioReturn relative to maximum drawdown

3.24

4.20

-0.95

Martin ratioReturn relative to average drawdown

13.93

15.53

-1.60

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XDPG.L vs. IUSA.L - Sharpe Ratio Comparison

The current XDPG.L Sharpe Ratio is 2.32, which is comparable to the IUSA.L Sharpe Ratio of 2.82. The chart below compares the historical Sharpe Ratios of XDPG.L and IUSA.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.

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Sharpe Ratios by Period

XDPG.LIUSA.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.32

2.82

-0.50

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.78

1.07

-0.29

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.82

1.06

-0.24

Sharpe Ratio (All Time)

Calculated using the full available price history

0.74

0.58

+0.16

Drawdowns

XDPG.L vs. IUSA.L - Drawdown Comparison

The maximum XDPG.L drawdown since its inception was -35.91%, smaller than the maximum IUSA.L drawdown of -38.58%. Use the drawdown chart below to compare losses from any high point for XDPG.L and IUSA.L.

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Drawdown Indicators

XDPG.LIUSA.LDifference

Max Drawdown

Largest peak-to-trough decline

-35.91%

-38.58%

+2.67%

Max Drawdown (1Y)

Largest decline over 1 year

-8.31%

-7.01%

-1.30%

Max Drawdown (3Y)

Largest decline over 3 years

-19.07%

-21.08%

+2.01%

Max Drawdown (5Y)

Largest decline over 5 years

-25.62%

-21.08%

-4.54%

Max Drawdown (10Y)

Largest decline over 10 years

-35.91%

-25.42%

-10.49%

Current Drawdown

Current decline from peak

-0.53%

-0.22%

-0.31%

Average Drawdown

Average peak-to-trough decline

-4.80%

-7.29%

+2.49%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.94%

1.90%

+0.04%

Volatility

XDPG.L vs. IUSA.L - Volatility Comparison

Xtrackers S&P 500 UCITS ETF 2C - GBP Hedged (XDPG.L) has a higher volatility of 3.18% compared to iShares S&P 500 UCITS Dist (IUSA.L) at 2.62%. This indicates that XDPG.L's price experiences larger fluctuations and is considered to be riskier than IUSA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XDPG.LIUSA.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.18%

2.62%

+0.56%

Volatility (6M)

Calculated over the trailing 6-month period

8.59%

7.13%

+1.46%

Volatility (1Y)

Calculated over the trailing 1-year period

11.62%

10.44%

+1.18%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.00%

14.33%

+1.67%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.60%

15.60%

+1.00%

XDPG.L vs. IUSA.L - Expense Ratio Comparison

XDPG.L has a 0.09% expense ratio, which is higher than IUSA.L's 0.07% 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

XDPG.L vs. IUSA.L - Dividend Comparison

XDPG.L has not paid dividends to shareholders, while IUSA.L's dividend yield for the trailing twelve months is around 1.15%.

PositionTTM20252024202320222021202020192018201720162015
IUSA.L
iShares S&P 500 UCITS Dist		1.15%1.24%1.28%1.55%1.74%1.39%1.80%1.96%2.22%1.95%1.75%2.29%
XDPG.L
Xtrackers S&P 500 UCITS ETF 2C - GBP Hedged		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

XDPG.L and IUSA.L have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, IUSA.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

IUSA.L is cheaper with a 0.07% expense ratio, compared with 0.09% for XDPG.L.

XDPG.L tracks S&P 500 GBP Hedged, while IUSA.L tracks S&P 500 Index. They also come from different issuers: Xtrackers and iShares. Their fees differ too: 0.09% for XDPG.L and 0.07% for IUSA.L.

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