GSPX.L vs. SPMV.L
GSPX.L (iShares Core S&P 500 UCITS ETF) and SPMV.L (iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc)) are both S&P 500 funds from iShares - GSPX.L tracks the S&P 500 Index while SPMV.L tracks the S&P 500 Minimum Volatility Net in USD. Both are passively managed. Over the past 5 years, GSPX.L returned 11.85%/yr vs 8.78%/yr for SPMV.L. A 0.65 correlation means they provide meaningful diversification when combined. GSPX.L charges 0.10%/yr vs 0.20%/yr for SPMV.L.
Performance
GSPX.L vs. SPMV.L - Performance Comparison
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Different Trading Currencies
GSPX.L is traded in GBP, while SPMV.L is traded in USD. To make them comparable, the SPMV.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, GSPX.L achieves a 9.80% return, which is significantly higher than SPMV.L's 4.40% return.
GSPX.L
- 1D
- 0.08%
- 1M
- 0.32%
- 6M
- 8.49%
- YTD
- 9.80%
- 1Y
- 22.23%
- 3Y*
- 19.31%
- 5Y*
- 11.85%
- 10Y*
- —
SPMV.L
- 1D
- 0.80%
- 1M
- -0.18%
- 6M
- 3.42%
- YTD
- 4.40%
- 1Y
- 11.16%
- 3Y*
- 11.78%
- 5Y*
- 8.78%
- 10Y*
- 9.81%
GSPX.L vs. SPMV.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
GSPX.L iShares Core S&P 500 UCITS ETF | 9.80% | 17.16% | 24.72% | 24.87% | -20.64% | 28.96% | 15.11% | 27.76% | -7.71% |
SPMV.L iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) | 4.40% | 3.60% | 20.76% | 4.44% | -0.48% | 26.16% | 4.26% | 26.25% | -2.87% |
Correlation
The correlation between GSPX.L and SPMV.L is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2018 | 0.65 |
The correlation between GSPX.L and SPMV.L shifts across timeframes, from 0.50 (1 year) to 0.65 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GSPX.L vs. SPMV.L — Risk / Return Rank
GSPX.L
SPMV.L
GSPX.L vs. SPMV.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core S&P 500 UCITS ETF (GSPX.L) and iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) (SPMV.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.
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.
| GSPX.L | SPMV.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.69 | ||
| Sortino ratioReturn per unit of downside risk | +1.08 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.21 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.65 | 2.15 | +0.49 |
| Martin ratioReturn relative to average drawdown | 10.82 | 6.35 | +4.47 |
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Drawdowns
GSPX.L vs. SPMV.L - Drawdown Comparison
The maximum GSPX.L drawdown since its inception was -34.98%, which is greater than SPMV.L's maximum drawdown of -25.15%. Use the drawdown chart below to compare losses from any high point for GSPX.L and SPMV.L.
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Drawdown Indicators
| GSPX.L | SPMV.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.98% | -25.15% | -9.83% |
Max Drawdown (1Y)Largest decline over 1 year | -8.37% | -5.16% | -3.21% |
Max Drawdown (3Y)Largest decline over 3 years | -18.97% | -14.55% | -4.42% |
Max Drawdown (5Y)Largest decline over 5 years | -25.80% | -14.55% | -11.25% |
Max Drawdown (10Y)Largest decline over 10 years | — | -25.15% | — |
Current DrawdownCurrent decline from peak | -0.71% | -1.52% | +0.81% |
Average DrawdownAverage peak-to-trough decline | -5.56% | -3.39% | -2.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.05% | 1.75% | +0.30% |
Volatility
GSPX.L vs. SPMV.L - Volatility Comparison
iShares Core S&P 500 UCITS ETF (GSPX.L) and iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) (SPMV.L) have volatilities of 2.92% and 2.82%, 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.
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Volatility by Period
| GSPX.L | SPMV.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.92% | 2.82% | +0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 9.27% | 7.29% | +1.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.05% | 9.62% | +2.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.14% | 12.68% | +3.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.62% | 14.18% | +3.44% |
GSPX.L vs. SPMV.L - Expense Ratio Comparison
GSPX.L has a 0.10% expense ratio, which is lower than SPMV.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
GSPX.L vs. SPMV.L - Dividend Comparison
GSPX.L's dividend yield for the trailing twelve months is around 0.80%, while SPMV.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
GSPX.L iShares Core S&P 500 UCITS ETF | 0.80% | 0.89% | 0.99% | 1.15% | 1.40% | 0.96% | 1.31% | 1.50% | 0.11% |
SPMV.L iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GSPX.L and SPMV.L have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GSPX.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GSPX.L is cheaper with a 0.10% expense ratio, compared with 0.20% for SPMV.L.
GSPX.L tracks S&P 500 Index, while SPMV.L tracks S&P 500 Minimum Volatility Net in USD. Their fees differ too: 0.10% for GSPX.L and 0.20% for SPMV.L.
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