XS5E.DE vs. E500.DE

Last updated Jul 18, 2026

XS5E.DE (Xtrackers S&P 500 Swap UCITS ETF EUR Hedged (Acc)) and E500.DE (Invesco S&P 500 UCITS ETF (EUR Hdg)) are both S&P 500 funds - XS5E.DE tracks the S&P 500 Index (EUR Hedged) while E500.DE tracks the S&P 500 Index. Both are passively managed. Over the past 3 years, XS5E.DE returned 17.00%/yr vs 16.95%/yr for E500.DE. With a 0.95 correlation, they move nearly in lockstep. XS5E.DE charges 0.20%/yr vs 0.05%/yr for E500.DE.

Performance

XS5E.DE vs. E500.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Xtrackers S&P 500 Swap UCITS ETF EUR Hedged (Acc) (XS5E.DE) and Invesco S&P 500 UCITS ETF (EUR Hdg) (E500.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with XS5E.DE having a 7.25% return and E500.DE slightly higher at 7.53%.

XS5E.DE

• 1D: -1.26%
• 1M: -0.73%
• 6M: 6.63%
• YTD: 7.25%
• 1Y: 17.01%
• 3Y*: 17.00%
• 5Y*: —
• 10Y*: —

E500.DE

• 1D: -0.37%
• 1M: 0.39%
• 6M: 7.27%
• YTD: 7.53%
• 1Y: 17.25%
• 3Y*: 16.95%
• 5Y*: 10.23%
• 10Y*: 12.28%

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

XS5E.DE vs. E500.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
XS5E.DE Xtrackers S&P 500 Swap UCITS ETF EUR Hedged (Acc)	7.25%	15.25%	23.26%	23.58%	-21.91%	9.25%
E500.DE Invesco S&P 500 UCITS ETF (EUR Hdg)	7.53%	15.34%	22.74%	23.32%	-21.40%	9.43%

Correlation

The correlation between XS5E.DE and E500.DE is 0.77, 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	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (All Time) Calculated using the full available price history since Sep 22, 2021	0.95

The correlation between XS5E.DE and E500.DE shifts across timeframes, from 0.77 (1 year) to 0.95 (all time), reflecting how their relationship changes across market environments.

Return for Risk

XS5E.DE vs. E500.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XS5E.DE

XS5E.DE Risk / Return Rank: 55
XS5E.DE Sharpe Ratio Rank: 55
XS5E.DE Sortino Ratio Rank: 59
XS5E.DE Omega Ratio Rank: 52
XS5E.DE Calmar Ratio Rank: 51
XS5E.DE Martin Ratio Rank: 60

E500.DE

E500.DE Risk / Return Rank: 54
E500.DE Sharpe Ratio Rank: 53
E500.DE Sortino Ratio Rank: 57
E500.DE Omega Ratio Rank: 54
E500.DE Calmar Ratio Rank: 47
E500.DE Martin Ratio Rank: 60

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.

XS5E.DE vs. E500.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers S&P 500 Swap UCITS ETF EUR Hedged (Acc) (XS5E.DE) and Invesco S&P 500 UCITS ETF (EUR Hdg) (E500.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.

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.

	XS5E.DE	E500.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.40	1.42	-0.02
Sortino ratio: Return per unit of downside risk	2.12	2.11	+0.01
Omega ratio: Gain probability vs. loss probability	1.25	1.26	-0.01
Calmar ratio: Return relative to maximum drawdown	1.96	1.86	+0.10
Martin ratio: Return relative to average drawdown	7.77	7.90	-0.13

XS5E.DE vs. E500.DE - Sharpe Ratio Comparison

The current XS5E.DE Sharpe Ratio is 1.40, which is comparable to the E500.DE Sharpe Ratio of 1.42. The chart below compares the historical Sharpe Ratios of XS5E.DE and E500.DE, 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

XS5E.DE vs. E500.DE - Drawdown Comparison

The maximum XS5E.DE drawdown since its inception was -26.08%, smaller than the maximum E500.DE drawdown of -34.19%. Use the drawdown chart below to compare losses from any high point for XS5E.DE and E500.DE.

Drawdown Indicators

	XS5E.DE	E500.DE	Difference
Max Drawdown Largest peak-to-trough decline	-26.08%	-34.19%	+8.11%
Max Drawdown (1Y) Largest decline over 1 year	-8.63%	-9.24%	+0.61%
Max Drawdown (3Y) Largest decline over 3 years	-18.49%	-18.50%	+0.01%
Max Drawdown (5Y) Largest decline over 5 years	—	-25.81%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-34.19%	—
Current Drawdown Current decline from peak	-2.06%	-1.64%	-0.42%
Average Drawdown Average peak-to-trough decline	-7.06%	-4.76%	-2.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.18%	2.18%	0.00%

Volatility

XS5E.DE vs. E500.DE - Volatility Comparison

Xtrackers S&P 500 Swap UCITS ETF EUR Hedged (Acc) (XS5E.DE) and Invesco S&P 500 UCITS ETF (EUR Hdg) (E500.DE) have volatilities of 2.94% and 2.83%, 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

	XS5E.DE	E500.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.94%	2.83%	+0.11%
Volatility (6M) Calculated over the trailing 6-month period	9.22%	9.45%	-0.23%
Volatility (1Y) Calculated over the trailing 1-year period	12.14%	12.12%	+0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.20%	16.06%	+0.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.20%	16.32%	-0.12%

XS5E.DE vs. E500.DE - Expense Ratio Comparison

XS5E.DE has a 0.20% expense ratio, which is higher than E500.DE's 0.05% 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

XS5E.DE vs. E500.DE - Dividend Comparison

Neither XS5E.DE nor E500.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XS5E.DE and E500.DE in my portfolio?

XS5E.DE and E500.DE have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XS5E.DE or E500.DE?

On fees, E500.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XS5E.DE or E500.DE?

E500.DE is cheaper with a 0.05% expense ratio, compared with 0.20% for XS5E.DE.

What is the main difference between XS5E.DE and E500.DE?

XS5E.DE tracks S&P 500 Index (EUR Hedged), while E500.DE tracks S&P 500 Index. They also come from different issuers: Xtrackers and Invesco. Their fees differ too: 0.20% for XS5E.DE and 0.05% for E500.DE.