GNL vs. SPLV

Last updated Jun 5, 2026

GNL (Global Net Lease, Inc.) is a stock, while SPLV (Invesco S&P 500 Low Volatility ETF) is S&P 500 fund tracking the S&P 500 Low Volatility Index. Over the past 10 years, GNL returned 1.14%/yr vs 8.12%/yr for SPLV. At a 0.48 correlation, their price movements are largely independent.

Performance

GNL vs. SPLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global Net Lease, Inc. (GNL) and Invesco S&P 500 Low Volatility ETF (SPLV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GNL achieves a 13.79% return, which is significantly higher than SPLV's 2.34% return. Over the past 10 years, GNL has underperformed SPLV with an annualized return of 1.14%, while SPLV has yielded a comparatively higher 8.12% annualized return.

GNL

• 1D: 1.95%
• 1M: 2.62%
• YTD: 13.79%
• 6M: 20.37%
• 1Y: 35.89%
• 3Y*: 11.33%
• 5Y*: -2.84%
• 10Y*: 1.14%

SPLV

• 1D: 1.00%
• 1M: -1.54%
• YTD: 2.34%
• 6M: 2.40%
• 1Y: 1.57%
• 3Y*: 7.86%
• 5Y*: 5.54%
• 10Y*: 8.12%

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

GNL vs. SPLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GNL Global Net Lease, Inc.	13.79%	32.44%	-15.34%	-8.95%	-7.46%	-2.35%	-6.07%	26.16%	-4.53%	-4.22%
SPLV Invesco S&P 500 Low Volatility ETF	2.34%	4.10%	13.93%	0.53%	-4.88%	24.13%	-1.39%	27.87%	-0.19%	17.32%

Correlation

The correlation between GNL and SPLV is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.53
Correlation (10Y) Calculated over the trailing 10-year period	0.51
Correlation (All Time) Calculated using the full available price history since Jun 3, 2015	0.49

The correlation between GNL and SPLV shifts across timeframes, from 0.40 (1 year) to 0.53 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

GNL vs. SPLV — Risk / Return Rank

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

GNL

GNL Risk / Return Rank: 83
GNL Sharpe Ratio Rank: 83
GNL Sortino Ratio Rank: 82
GNL Omega Ratio Rank: 78
GNL Calmar Ratio Rank: 87
GNL Martin Ratio Rank: 86

SPLV

SPLV Risk / Return Rank: 11
SPLV Sharpe Ratio Rank: 12
SPLV Sortino Ratio Rank: 11
SPLV Omega Ratio Rank: 11
SPLV Calmar Ratio Rank: 12
SPLV Martin Ratio Rank: 12

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.

GNL vs. SPLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global Net Lease, Inc. (GNL) and Invesco S&P 500 Low Volatility ETF (SPLV). 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.

	GNL	SPLV	Difference
Sharpe ratio: Return per unit of total volatility	1.58	0.16	+1.41
Sortino ratio: Return per unit of downside risk	2.42	0.29	+2.13
Omega ratio: Gain probability vs. loss probability	1.28	1.03	+0.25
Calmar ratio: Return relative to maximum drawdown	3.81	0.21	+3.60
Martin ratio: Return relative to average drawdown	9.18	0.51	+8.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GNL vs. SPLV - Sharpe Ratio Comparison

The current GNL Sharpe Ratio is 1.58, which is higher than the SPLV Sharpe Ratio of 0.16. The chart below compares the historical Sharpe Ratios of GNL and SPLV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GNL	SPLV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.58	0.16	+1.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.10	0.45	-0.55
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.03	0.53	-0.50
Sharpe Ratio (All Time) Calculated using the full available price history	0.02	0.68	-0.66

Drawdowns

GNL vs. SPLV - Drawdown Comparison

The maximum GNL drawdown since its inception was -58.38%, which is greater than SPLV's maximum drawdown of -36.26%. Use the drawdown chart below to compare losses from any high point for GNL and SPLV.

Drawdown Indicators

	GNL	SPLV	Difference
Max Drawdown Largest peak-to-trough decline	-58.38%	-36.26%	-22.12%
Max Drawdown (1Y) Largest decline over 1 year	-9.46%	-7.41%	-2.05%
Max Drawdown (3Y) Largest decline over 3 years	-35.59%	-9.64%	-25.95%
Max Drawdown (5Y) Largest decline over 5 years	-52.09%	-17.26%	-34.83%
Max Drawdown (10Y) Largest decline over 10 years	-58.38%	-36.26%	-22.12%
Current Drawdown Current decline from peak	-13.97%	-5.97%	-8.00%
Average Drawdown Average peak-to-trough decline	-18.50%	-3.55%	-14.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.92%	3.07%	+0.85%

Volatility

GNL vs. SPLV - Volatility Comparison

Global Net Lease, Inc. (GNL) has a higher volatility of 5.07% compared to Invesco S&P 500 Low Volatility ETF (SPLV) at 3.17%. This indicates that GNL's price experiences larger fluctuations and is considered to be riskier than SPLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GNL	SPLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.07%	3.17%	+1.90%
Volatility (6M) Calculated over the trailing 6-month period	14.24%	6.82%	+7.42%
Volatility (1Y) Calculated over the trailing 1-year period	22.94%	9.83%	+13.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.80%	12.46%	+16.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.34%	15.36%	+17.98%

Dividends

GNL vs. SPLV - Dividend Comparison

GNL's dividend yield for the trailing twelve months is around 8.09%, more than SPLV's 2.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GNL Global Net Lease, Inc.	8.09%	9.83%	16.15%	15.62%	12.73%	10.47%	10.11%	8.75%	12.09%	9.77%	9.07%	4.64%
SPLV Invesco S&P 500 Low Volatility ETF	2.20%	2.04%	1.88%	2.45%	2.11%	1.51%	2.12%	2.08%	2.18%	2.03%	2.03%	2.28%

Frequently Asked Questions

Can I hold both GNL and SPLV in my portfolio?

GNL and SPLV have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GNL or SPLV?

GNL has higher volatility (5.07%) compared to SPLV (3.17%). In terms of maximum drawdown, GNL dropped -58.38% vs SPLV's -36.26%.

Which has better risk-adjusted returns?

GNL currently has the higher Sharpe Ratio (1.58 vs 0.16), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.