ETF comparison

SPXS vs SPY5

Invesco S&P 500 UCITS ETF Acc
IE00B3YCGJ38Invesco
State Street® SPDR® S&P® 500 UCITS ETF (Dist)
IE00B6YX5C33State Street
Figures as of October 1, 2026 (SPXS) · October 2, 2026 (SPY5)

The comparison in short

SPXS (Invesco S&P 500 UCITS ETF Acc, IE00B3YCGJ38) and SPY5 (State Street® SPDR® S&P® 500 UCITS ETF (Dist), IE00B6YX5C33) both track the S&P 500 index. SPY5 has the lower total expense ratio (TER): 0.03% a year against 0.05% for SPXS, 0.02 percentage points less, or about 2 a year on 10,000 invested. SPXS is the larger fund, with USD 58,979m in assets against USD 44.4bn for SPY5. SPXS replicates its index through a swap and publishes the collateral basket behind it, so the holdings overlap is not measured. In 2025, SPXS returned +17.8% and SPY5 +17.6%, a gap of 0.2 percentage points. Over 10 years, SPXS returned +15.2% a year and SPY5 +15.0% a year. SPXS reinvests its income (accumulating), while SPY5 pays it out (distributing). SPY5 holds the index securities directly (physical replication), while SPXS replicates its index through a swap (synthetic). Both are domiciled in Ireland. SPXS and SPY5 both carry a risk indicator (SRRI) of 4 on the 1–7 scale. This is a factual comparison from the fund houses' documents, not investment advice.

Side by side

FigureSPXSSPY5
ISINIE00B3YCGJ38IE00B6YX5C33
Exchange tickersSPXS, P500, SPXPSPY5, SPX5
Fund houseInvescoState Street
Total expense ratio (TER)0.05%0.03%
Ongoing charges (KID)0.05%0.03%
Fund sizeUSD 58,979mUSD 44.4bn
Launch dateMay 20, 2010March 19, 2012
ReplicationSynthetic (swap)Physical
DomicileIrelandIreland
Distribution policyAccumulatingDistributing
Share class currencyUSDUSD
Number of holdings—505
Risk indicator (SRRI)4 / 74 / 7
SFDR classificationArticle 6—
BenchmarkS&P 500 IndexS&P 500® Index

Performance

Calendar-year returns

YearSPXSSPY5Difference
2025+17.8%+17.6%+0.2
2024+24.9%+24.7%+0.2
2023+26.2%+25.9%+0.3
2022−18.2%−18.4%+0.2
2021+28.6%+28.3%+0.3

Annualised returns

PeriodSPXSSPY5Difference
1 year+15.4%+20.1%−4.7
3 years+22.8%+20.7%+2.1
5 years+13.5%+12.5%+1.0
10 years+15.2%+15.0%+0.2
Returns as published by each fund house, in each share class's currency and net of the fund's charges. The difference is in percentage points. Past performance does not predict future returns.

Holdings

SPXS replicates its index through a swap and publishes the collateral basket behind it, so the holdings overlap is not measured.

Top 10 holdings of SPXS

SPXS replicates its index through a swap: the securities it publishes are the collateral basket behind the swap, not the index, so they are not compared.
#HoldingWeight
1
NVIDIA ORD
8.10%
2
APPLE ORD
7.00%
3
MICROSOFT ORD
5.70%
4
AMAZON COM ORD
3.80%
5
ALPHABET CL A ORD
3.00%
6
BROADCOM ORD
2.70%
7
ALPHABET CL C ORD
2.40%
8
META PLATFORMS CL A ORD
1.90%
9
MICRON TECHNOLOGY ORD
1.60%
10
TESLA ORD
1.60%

Top 10 holdings of SPY5

#HoldingWeight
1
NVIDIA Corporation
8.46%
2
Apple Inc.
7.30%
3
Microsoft Corporation
5.76%
4
Amazon.com Inc.
3.69%
5
Alphabet Inc. Class A
3.00%
6
Broadcom Inc.
2.47%
7
Meta Platforms Inc Class A
2.42%
8
Alphabet Inc. Class C
2.41%
9
Micron Technology Inc.
1.88%
10
Advanced Micro Devices Inc.
1.52%
Compare every published holding of SPXS and SPY5 in the overlap checker

Sectors and countries

Largest sectors of SPXS

  1. Information technology36.7%
  2. Financials12.5%
  3. Communication services9.7%
  4. Consumer discretionary9.4%
  5. Health care9.1%
  6. Industrials8.8%
+ 4 more

Largest sectors of SPY5

  1. Information Technology39.9%
  2. Financials11.4%
  3. Communication Services9.8%
  4. Health Care9.1%
  5. Consumer Discretionary8.6%
  6. Industrials8.1%
+ 5 more

Largest countries of SPXS

  1. United States99.8%
  2. Switzerland0.1%
  3. Netherlands0.1%

Largest countries of SPY5

  1. United States100.0%

Frequently asked questions

What is the difference between SPXS and SPY5?

SPXS (Invesco S&P 500 UCITS ETF Acc, IE00B3YCGJ38) and SPY5 (State Street® SPDR® S&P® 500 UCITS ETF (Dist), IE00B6YX5C33) both track the S&P 500 index. SPY5 has the lower total expense ratio (TER): 0.03% a year against 0.05% for SPXS, 0.02 percentage points less, or about 2 a year on 10,000 invested. SPXS reinvests its income (accumulating), while SPY5 pays it out (distributing). SPY5 holds the index securities directly (physical replication), while SPXS replicates its index through a swap (synthetic). Both are domiciled in Ireland. This is a factual comparison from the fund houses' documents, not investment advice.

Which is cheaper, SPXS or SPY5?

SPY5 has the lower total expense ratio (TER): 0.03% a year against 0.05% for SPXS, 0.02 percentage points less, or about 2 a year on 10,000 invested. Their key information documents state ongoing charges of 0.05% for SPXS and 0.03% for SPY5.

Which is bigger, SPXS or SPY5?

SPXS is the larger fund, with USD 58,979m in assets against USD 44.4bn for SPY5.

Do SPXS and SPY5 hold the same companies?

SPXS replicates its index through a swap and publishes the collateral basket behind it, so the holdings overlap is not measured.

How did SPXS and SPY5 perform in 2025?

In 2025, SPXS returned +17.8% and SPY5 +17.6%, a gap of 0.2 percentage points. Over 10 years, SPXS returned +15.2% a year and SPY5 +15.0% a year. Over the past year, SPXS returned +15.4% and SPY5 +20.1%. Past performance does not predict future returns.

Are SPXS and SPY5 accumulating or distributing?

SPXS is accumulating: it reinvests its income in the fund. SPY5 is distributing: it pays its income out to investors.

Go further

Other comparisons

Figures are read from the documents each fund house publishes (product page, factsheet, key information document, holdings file) and refreshed weekly. Names and tickers identify the products; FundFacts API is independent of every fund house and index provider. This comparison is factual information, not investment advice or a recommendation to buy or sell either fund.