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BYBG.L vs. SPMD.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BYBG.L vs. SPMD.L

Last updated Jun 5, 2026

BYBG.L (Amundi S&P 500 Buyback ETF-C USD) and SPMD.L (iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Dist)) are both S&P 500 funds - BYBG.L tracks the S&P 500 Buyback NTR while SPMD.L tracks the S&P 500 Minimum Volatility Index. Both are passively managed. Over the past 5 years, BYBG.L returned 11.34%/yr vs 10.08%/yr for SPMD.L. A 0.72 correlation means they provide meaningful diversification when combined. BYBG.L charges 0.15%/yr vs 0.20%/yr for SPMD.L.

Performance

BYBG.L vs. SPMD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Amundi S&P 500 Buyback ETF-C USD (BYBG.L) and iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Dist) (SPMD.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

BYBG.L is traded in GBp, while SPMD.L is traded in USD. To make them comparable, the SPMD.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, BYBG.L achieves a 8.46% return, which is significantly higher than SPMD.L's 4.59% return.

BYBG.L

1D
0.96%
1M
5.70%
YTD
8.46%
6M
9.28%
1Y
23.82%
3Y*
15.56%
5Y*
11.34%
10Y*
13.89%

SPMD.L

1D
0.15%
1M
4.71%
YTD
4.59%
6M
4.74%
1Y
12.46%
3Y*
10.96%
5Y*
10.08%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

BYBG.L vs. SPMD.L - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
BYBG.L
Amundi S&P 500 Buyback ETF-C USD		8.46%9.41%15.83%9.58%-1.29%35.95%1.99%26.54%-1.92%
SPMD.L
iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Dist)		4.56%3.61%20.77%4.38%-0.37%26.11%4.44%25.95%4.53%

Correlation

The correlation between BYBG.L and SPMD.L is 0.60, 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

0.60

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

0.66

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

0.69

Correlation (All Time)
Calculated using the full available price history since Feb 26, 2018

0.72

The correlation between BYBG.L and SPMD.L shifts across timeframes, from 0.60 (1 year) to 0.72 (all time), reflecting how their relationship changes across market environments.

BYBG.L vs. SPMD.L - Sectors Allocation Comparison

Sectors
BYBG.L
SPMD.L

Financial Services

27.9%
17.8%

Technology

22.4%
29.0%

Consumer Cyclical

15.8%
6.9%

Industrials

9.0%
5.7%

Healthcare

7.5%
13.3%

Energy

5.2%
5.2%

Communication Services

4.6%
6.5%

Consumer Defensive

3.7%
10.4%

Basic Materials

3.1%
2.3%

Utilities

0.9%
2.9%

Real Estate

-

0.2%

Financial Services

BYBG.L
27.9%
SPMD.L
17.8%

Technology

BYBG.L
22.4%
SPMD.L
29.0%

Consumer Cyclical

BYBG.L
15.8%
SPMD.L
6.9%

Industrials

BYBG.L
9.0%
SPMD.L
5.7%

Healthcare

BYBG.L
7.5%
SPMD.L
13.3%

Energy

BYBG.L
5.2%
SPMD.L
5.2%

Communication Services

BYBG.L
4.6%
SPMD.L
6.5%

Consumer Defensive

BYBG.L
3.7%
SPMD.L
10.4%

Basic Materials

BYBG.L
3.1%
SPMD.L
2.3%

Utilities

BYBG.L
0.9%
SPMD.L
2.9%

Real Estate

BYBG.L

-

SPMD.L
0.2%

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Amundi S&P 500 Buyback ETF-C USD

iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Dist)

Often compared with BYBG.L:
BYBG.L vs. SBUY.LBYBG.L vs. QQQBYBG.L vs. IWFBYBG.L vs. VOOBYBG.L vs. 500G.LBYBG.L vs. BRK-ABYBG.L vs. 500U.L
Often compared with SPMD.L:
SPMD.L vs. VOOSPMD.L vs. VUAG.LSPMD.L vs. LGLVSPMD.L vs. SPYSPMD.L vs. VTISPMD.L vs. USMVSPMD.L vs. CSPX.L

Return for Risk

BYBG.L vs. SPMD.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
BYBG.L
BYBG.L Risk / Return Rank: 7171
Overall Rank
BYBG.L Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
BYBG.L Sortino Ratio Rank: 6565
Sortino Ratio Rank
BYBG.L Omega Ratio Rank: 6363
Omega Ratio Rank
BYBG.L Calmar Ratio Rank: 8787
Calmar Ratio Rank
BYBG.L Martin Ratio Rank: 7474
Martin Ratio Rank
SPMD.L
SPMD.L Risk / Return Rank: 4040
Overall Rank
SPMD.L Sharpe Ratio Rank: 3939
Sharpe Ratio Rank
SPMD.L Sortino Ratio Rank: 4141
Sortino Ratio Rank
SPMD.L Omega Ratio Rank: 3838
Omega Ratio Rank
SPMD.L Calmar Ratio Rank: 3737
Calmar Ratio Rank
SPMD.L Martin Ratio Rank: 4444
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.

BYBG.L vs. SPMD.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amundi S&P 500 Buyback ETF-C USD (BYBG.L) and iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Dist) (SPMD.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.

BYBG.LSPMD.LDifference
Sharpe ratioReturn per unit of total volatility
2.15
1.33

+0.83

Sortino ratioReturn per unit of downside risk
2.99
1.89

+1.09

Omega ratioGain probability vs. loss probability

1.38

1.24

+0.14

Calmar ratioReturn relative to maximum drawdown

4.88

2.43

+2.45

Martin ratioReturn relative to average drawdown

13.84

7.18

+6.66

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

BYBG.L vs. SPMD.L - Sharpe Ratio Comparison

The current BYBG.L Sharpe Ratio is 2.15, which is higher than the SPMD.L Sharpe Ratio of 1.33. The chart below compares the historical Sharpe Ratios of BYBG.L and SPMD.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

BYBG.LSPMD.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.15

1.33

+0.83

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.75

0.80

-0.05

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.77

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.68

0.74

-0.06

Drawdowns

BYBG.L vs. SPMD.L - Drawdown Comparison

The maximum BYBG.L drawdown since its inception was -35.57%, which is greater than SPMD.L's maximum drawdown of -25.24%. Use the drawdown chart below to compare losses from any high point for BYBG.L and SPMD.L.

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Drawdown Indicators

BYBG.LSPMD.LDifference

Max Drawdown

Largest peak-to-trough decline

-35.57%

-25.24%

-10.33%

Max Drawdown (1Y)

Largest decline over 1 year

-4.86%

-5.10%

+0.24%

Max Drawdown (3Y)

Largest decline over 3 years

-20.63%

-14.40%

-6.23%

Max Drawdown (5Y)

Largest decline over 5 years

-20.63%

-14.40%

-6.23%

Max Drawdown (10Y)

Largest decline over 10 years

-35.57%

—

—

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-4.68%

-3.86%

-0.82%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.72%

1.73%

-0.01%

Volatility

BYBG.L vs. SPMD.L - Volatility Comparison

The current volatility for Amundi S&P 500 Buyback ETF-C USD (BYBG.L) is 2.72%, while iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Dist) (SPMD.L) has a volatility of 2.89%. This indicates that BYBG.L experiences smaller price fluctuations and is considered to be less risky than SPMD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

BYBG.LSPMD.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.72%

2.89%

-0.17%

Volatility (6M)

Calculated over the trailing 6-month period

7.49%

6.94%

+0.55%

Volatility (1Y)

Calculated over the trailing 1-year period

11.02%

9.35%

+1.67%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.15%

12.64%

+2.51%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.02%

14.70%

+3.32%

BYBG.L vs. SPMD.L - Expense Ratio Comparison

BYBG.L has a 0.15% expense ratio, which is lower than SPMD.L's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

BYBG.L vs. SPMD.L - Dividend Comparison

BYBG.L has not paid dividends to shareholders, while SPMD.L's dividend yield for the trailing twelve months is around 1.16%.

PositionTTM20252024202320222021202020192018
BYBG.L
Amundi S&P 500 Buyback ETF-C USD		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
SPMD.L
iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Dist)		1.16%1.15%1.28%1.46%1.35%1.27%1.54%1.52%1.13%

Frequently Asked Questions

BYBG.L and SPMD.L have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, BYBG.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

BYBG.L is cheaper with a 0.15% expense ratio, compared with 0.20% for SPMD.L.

BYBG.L tracks S&P 500 Buyback NTR, while SPMD.L tracks S&P 500 Minimum Volatility Index. They also come from different issuers: Amundi and iShares. Their fees differ too: 0.15% for BYBG.L and 0.20% for SPMD.L.

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