XDPG.L vs. SPX5.L

Last updated Jul 18, 2026

XDPG.L (Xtrackers S&P 500 UCITS ETF 2C - GBP Hedged) and SPX5.L (SPDR S&P 500 UCITS ETF) are both S&P 500 funds - XDPG.L tracks the S&P 500 GBP Hedged while SPX5.L tracks the S&P 500 Index. Both are passively managed. Over the past 10 years, XDPG.L returned 13.16%/yr vs 14.33%/yr for SPX5.L. A 0.76 correlation means they provide meaningful diversification when combined. XDPG.L charges 0.09%/yr vs 0.03%/yr for SPX5.L.

Performance

XDPG.L vs. SPX5.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 SPDR S&P 500 UCITS ETF (SPX5.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

XDPG.L is traded in GBp, while SPX5.L is traded in GBP. To make them comparable, the SPX5.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, XDPG.L achieves a 8.53% return, which is significantly lower than SPX5.L's 9.06% return. Over the past 10 years, XDPG.L has underperformed SPX5.L with an annualized return of 13.16%, while SPX5.L has yielded a comparatively higher 14.33% annualized return.

XDPG.L

• 1D: -1.21%
• 1M: -0.51%
• 6M: 7.58%
• YTD: 8.53%
• 1Y: 19.27%
• 3Y*: 18.73%
• 5Y*: 11.48%
• 10Y*: 13.16%

SPX5.L

• 1D: -0.98%
• 1M: -0.94%
• 6M: 7.51%
• YTD: 9.06%
• 1Y: 19.65%
• 3Y*: 18.28%
• 5Y*: 13.33%
• 10Y*: 14.33%

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

XDPG.L vs. SPX5.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XDPG.L Xtrackers S&P 500 UCITS ETF 2C - GBP Hedged	8.53%	16.95%	24.90%	24.82%	-20.73%	28.87%	15.23%	27.53%	-7.58%	19.92%
SPX5.L SPDR S&P 500 UCITS ETF	9.06%	9.34%	27.46%	19.76%	-9.00%	30.96%	13.52%	26.33%	-0.90%	10.29%

Correlation

The correlation between XDPG.L and SPX5.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	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.78
Correlation (All Time) Calculated using the full available price history since Feb 27, 2015	0.76

The correlation between XDPG.L and SPX5.L has been stable across timeframes, ranging from 0.76 to 0.81 - a consistent structural relationship.

XDPG.L vs. SPX5.L - Sectors Allocation Comparison

Sectors	XDPG.L	SPX5.L
Technology	39.0%	39.1%
Financial Services	11.1%	11.1%
Communication Services	10.7%	10.8%
Consumer Cyclical	9.9%	9.9%
Healthcare	8.3%	8.4%
Industrials	7.8%	7.8%
Consumer Defensive	4.5%	4.5%
Energy	3.1%	3.2%
Utilities	2.1%	2.1%
Real Estate	1.8%	1.8%
Basic Materials	1.7%	1.3%

Return for Risk

XDPG.L vs. SPX5.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: 65
XDPG.L Sharpe Ratio Rank: 64
XDPG.L Sortino Ratio Rank: 69
XDPG.L Omega Ratio Rank: 62
XDPG.L Calmar Ratio Rank: 62
XDPG.L Martin Ratio Rank: 70

SPX5.L

SPX5.L Risk / Return Rank: 70
SPX5.L Sharpe Ratio Rank: 70
SPX5.L Sortino Ratio Rank: 68
SPX5.L Omega Ratio Rank: 70
SPX5.L Calmar Ratio Rank: 70
SPX5.L Martin Ratio Rank: 70

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. SPX5.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 SPDR S&P 500 UCITS ETF (SPX5.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.

	XDPG.L	SPX5.L	Difference
Sharpe ratio: Return per unit of total volatility	1.59	1.79	-0.20
Sortino ratio: Return per unit of downside risk	2.39	2.47	-0.08
Omega ratio: Gain probability vs. loss probability	1.29	1.33	-0.04
Calmar ratio: Return relative to maximum drawdown	2.31	2.77	-0.46
Martin ratio: Return relative to average drawdown	9.32	9.88	-0.56

XDPG.L vs. SPX5.L - Sharpe Ratio Comparison

The current XDPG.L Sharpe Ratio is 1.59, which is comparable to the SPX5.L Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of XDPG.L and SPX5.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

XDPG.L vs. SPX5.L - Drawdown Comparison

The maximum XDPG.L drawdown since its inception was -35.91%, smaller than the maximum SPX5.L drawdown of -41.23%. Use the drawdown chart below to compare losses from any high point for XDPG.L and SPX5.L.

Drawdown Indicators

	XDPG.L	SPX5.L	Difference
Max Drawdown Largest peak-to-trough decline	-35.91%	-41.23%	+5.32%
Max Drawdown (1Y) Largest decline over 1 year	-8.31%	-7.07%	-1.24%
Max Drawdown (3Y) Largest decline over 3 years	-19.07%	-20.90%	+1.83%
Max Drawdown (5Y) Largest decline over 5 years	-25.62%	-20.90%	-4.72%
Max Drawdown (10Y) Largest decline over 10 years	-35.91%	-25.45%	-10.46%
Current Drawdown Current decline from peak	-1.78%	-1.92%	+0.14%
Average Drawdown Average peak-to-trough decline	-4.74%	-7.45%	+2.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.06%	1.98%	+0.08%

Volatility

XDPG.L vs. SPX5.L - Volatility Comparison

Xtrackers S&P 500 UCITS ETF 2C - GBP Hedged (XDPG.L) and SPDR S&P 500 UCITS ETF (SPX5.L) have volatilities of 2.99% and 2.93%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XDPG.L	SPX5.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.99%	2.93%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	9.34%	7.80%	+1.54%
Volatility (1Y) Calculated over the trailing 1-year period	12.11%	10.97%	+1.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.06%	14.30%	+1.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.55%	15.41%	+1.14%

XDPG.L vs. SPX5.L - Expense Ratio Comparison

XDPG.L has a 0.09% expense ratio, which is higher than SPX5.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

XDPG.L vs. SPX5.L - Dividend Comparison

XDPG.L has not paid dividends to shareholders, while SPX5.L's dividend yield for the trailing twelve months is around 0.93%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPX5.L SPDR S&P 500 UCITS ETF	0.93%	0.98%	1.03%	1.21%	1.39%	0.98%	1.40%	1.48%	0.78%	1.19%	1.49%	1.68%
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

Can I hold both XDPG.L and SPX5.L in my portfolio?

XDPG.L and SPX5.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.

Which ETF is better, XDPG.L or SPX5.L?

On fees, SPX5.L is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XDPG.L or SPX5.L?

SPX5.L is cheaper with a 0.03% expense ratio, compared with 0.09% for XDPG.L.

What is the main difference between XDPG.L and SPX5.L?

XDPG.L tracks S&P 500 GBP Hedged, while SPX5.L tracks S&P 500 Index. They also come from different issuers: Xtrackers and State Street. Their fees differ too: 0.09% for XDPG.L and 0.03% for SPX5.L.