XS5E.DE vs. P500.DE
XS5E.DE (Xtrackers S&P 500 Swap UCITS ETF EUR Hedged (Acc)) and P500.DE (Invesco S&P 500 UCITS ETF) are both S&P 500 funds - XS5E.DE tracks the S&P 500 Index (EUR Hedged) while P500.DE tracks the S&P 500 Index. Both are passively managed. Over the past 3 years, XS5E.DE returned 17.82%/yr vs 18.56%/yr for P500.DE. Their correlation of 0.85 suggests significant overlap in exposure. XS5E.DE charges 0.20%/yr vs 0.05%/yr for P500.DE.
Performance
XS5E.DE vs. P500.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XS5E.DE achieves a 7.75% return, which is significantly lower than P500.DE's 12.30% return.
XS5E.DE
- 1D
- 0.18%
- 1M
- -0.99%
- 6M
- 8.38%
- YTD
- 7.75%
- 1Y
- 17.67%
- 3Y*
- 17.82%
- 5Y*
- —
- 10Y*
- —
P500.DE
- 1D
- 0.23%
- 1M
- 0.61%
- 6M
- 13.07%
- YTD
- 12.30%
- 1Y
- 24.17%
- 3Y*
- 18.56%
- 5Y*
- 13.90%
- 10Y*
- 15.07%
XS5E.DE vs. P500.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
XS5E.DE Xtrackers S&P 500 Swap UCITS ETF EUR Hedged (Acc) | 7.75% | 15.25% | 23.26% | 23.58% | -21.91% | 9.25% |
P500.DE Invesco S&P 500 UCITS ETF | 12.30% | 4.83% | 32.66% | 22.56% | -14.02% | 13.82% |
Correlation
The correlation between XS5E.DE and P500.DE is 0.85, 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 | 0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2021 | 0.85 |
The correlation between XS5E.DE and P500.DE has been stable across timeframes, ranging from 0.82 to 0.85 - a consistent structural relationship.
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Return for Risk
XS5E.DE vs. P500.DE — Risk / Return Rank
XS5E.DE
P500.DE
XS5E.DE vs. P500.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 (P500.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 | P500.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.55 | ||
| Sortino ratioReturn per unit of downside risk | -0.55 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.37 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.04 | 3.39 | -1.35 |
| Martin ratioReturn relative to average drawdown | 8.14 | 12.01 | -3.87 |
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Drawdowns
XS5E.DE vs. P500.DE - Drawdown Comparison
The maximum XS5E.DE drawdown since its inception was -26.08%, smaller than the maximum P500.DE drawdown of -33.85%. Use the drawdown chart below to compare losses from any high point for XS5E.DE and P500.DE.
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Drawdown Indicators
| XS5E.DE | P500.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.08% | -33.85% | +7.77% |
Max Drawdown (1Y)Largest decline over 1 year | -8.63% | -7.10% | -1.53% |
Max Drawdown (3Y)Largest decline over 3 years | -18.49% | -23.39% | +4.90% |
Max Drawdown (5Y)Largest decline over 5 years | — | -23.39% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.85% | — |
Current DrawdownCurrent decline from peak | -1.61% | -0.60% | -1.01% |
Average DrawdownAverage peak-to-trough decline | -7.10% | -3.84% | -3.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.17% | 2.01% | +0.16% |
Volatility
XS5E.DE vs. P500.DE - Volatility Comparison
Xtrackers S&P 500 Swap UCITS ETF EUR Hedged (Acc) (XS5E.DE) has a higher volatility of 4.03% compared to Invesco S&P 500 UCITS ETF (P500.DE) at 3.66%. This indicates that XS5E.DE's price experiences larger fluctuations and is considered to be riskier than P500.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XS5E.DE | P500.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.03% | 3.66% | +0.37% |
Volatility (6M)Calculated over the trailing 6-month period | 9.21% | 8.08% | +1.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.08% | 12.00% | +0.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.24% | 15.22% | +1.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.24% | 16.07% | +0.17% |
XS5E.DE vs. P500.DE - Expense Ratio Comparison
XS5E.DE has a 0.20% expense ratio, which is higher than P500.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. P500.DE - Dividend Comparison
Neither XS5E.DE nor P500.DE has paid dividends to shareholders.
Frequently Asked Questions
XS5E.DE and P500.DE have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, P500.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
P500.DE is cheaper with a 0.05% expense ratio, compared with 0.20% for XS5E.DE.
XS5E.DE tracks S&P 500 Index (EUR Hedged), while P500.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 P500.DE.
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