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IUCB.L vs. USSC.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IUCB.L vs. USSC.L

Last updated Jun 5, 2026

IUCB.L (SPDR Bloomberg 1-10 Year US Corporate Bond UCITS ETF) and USSC.L (SPDR MSCI USA Small Cap Value Weighted UCITS ETF) are both exchange-traded funds - IUCB.L is a Corporate Bonds fund tracking the Bloomberg US Corp Bond TR USD, while USSC.L is a Small Cap Value Equities fund tracking the MSCI USA Small Cap Value Weighted Index. Both are passively managed. Over the past 5 years, IUCB.L returned 1.88%/yr vs 9.64%/yr for USSC.L. At a 0.12 correlation, their price movements are largely independent. IUCB.L charges 0.12%/yr vs 0.30%/yr for USSC.L.

Performance

IUCB.L vs. USSC.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Bloomberg 1-10 Year US Corporate Bond UCITS ETF (IUCB.L) and SPDR MSCI USA Small Cap Value Weighted UCITS ETF (USSC.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IUCB.L achieves a 0.43% return, which is significantly lower than USSC.L's 13.75% return.

IUCB.L

1D
0.18%
1M
0.27%
YTD
0.43%
6M
0.88%
1Y
5.11%
3Y*
5.84%
5Y*
1.88%
10Y*
—

USSC.L

1D
0.73%
1M
1.65%
YTD
13.75%
6M
14.39%
1Y
36.72%
3Y*
19.78%
5Y*
9.64%
10Y*
11.88%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IUCB.L vs. USSC.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IUCB.L
SPDR Bloomberg 1-10 Year US Corporate Bond UCITS ETF		0.43%7.84%4.54%7.17%-9.26%-1.61%7.94%8.74%-3.80%0.80%
USSC.L
SPDR MSCI USA Small Cap Value Weighted UCITS ETF		13.75%14.73%8.33%23.17%-10.14%35.22%8.76%23.19%-15.30%9.79%

Correlation

The correlation between IUCB.L and USSC.L is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.25

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

0.23

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

0.17

Correlation (All Time)
Calculated using the full available price history since Jul 13, 2016

0.12

The correlation between IUCB.L and USSC.L shifts across timeframes, from 0.12 (all time) to 0.25 (1 year), reflecting how their relationship changes across market environments.

IUCB.L vs. USSC.L - Sectors Allocation Comparison

Sectors
IUCB.L
USSC.L

Financial Services

26.3%
19.8%

Healthcare

5.8%
7.5%

Technology

5.0%
9.4%

Consumer Cyclical

4.6%
14.0%

Energy

4.0%
11.2%

Communication Services

4.0%
2.7%

Industrials

3.7%
14.7%

Utilities

3.1%
2.5%

Consumer Defensive

3.0%
6.0%

Real Estate

2.2%
6.2%

Basic Materials

1.1%
6.1%

Financial Services

IUCB.L
26.3%
USSC.L
19.8%

Healthcare

IUCB.L
5.8%
USSC.L
7.5%

Technology

IUCB.L
5.0%
USSC.L
9.4%

Consumer Cyclical

IUCB.L
4.6%
USSC.L
14.0%

Energy

IUCB.L
4.0%
USSC.L
11.2%

Communication Services

IUCB.L
4.0%
USSC.L
2.7%

Industrials

IUCB.L
3.7%
USSC.L
14.7%

Utilities

IUCB.L
3.1%
USSC.L
2.5%

Consumer Defensive

IUCB.L
3.0%
USSC.L
6.0%

Real Estate

IUCB.L
2.2%
USSC.L
6.2%

Basic Materials

IUCB.L
1.1%
USSC.L
6.1%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

SPDR Bloomberg 1-10 Year US Corporate Bond UCITS ETF

SPDR MSCI USA Small Cap Value Weighted UCITS ETF

Often compared with IUCB.L:
IUCB.L vs. SDIA.LIUCB.L vs. QDVK.DEIUCB.L vs. SJNKIUCB.L vs. LQDE.LIUCB.L vs. ERNA.LIUCB.L vs. VDPA.LIUCB.L vs. USCR.L
Often compared with USSC.L:
USSC.L vs. R2SC.LUSSC.L vs. SPYUSSC.L vs. SLYVUSSC.L vs. IEUSUSSC.L vs. VBRUSSC.L vs. IMID.LUSSC.L vs. MOGB.L

Return for Risk

IUCB.L vs. USSC.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IUCB.L
IUCB.L Risk / Return Rank: 4545
Overall Rank
IUCB.L Sharpe Ratio Rank: 4040
Sharpe Ratio Rank
IUCB.L Sortino Ratio Rank: 4040
Sortino Ratio Rank
IUCB.L Omega Ratio Rank: 4141
Omega Ratio Rank
IUCB.L Calmar Ratio Rank: 5454
Calmar Ratio Rank
IUCB.L Martin Ratio Rank: 5151
Martin Ratio Rank
USSC.L
USSC.L Risk / Return Rank: 7575
Overall Rank
USSC.L Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
USSC.L Sortino Ratio Rank: 7575
Sortino Ratio Rank
USSC.L Omega Ratio Rank: 6666
Omega Ratio Rank
USSC.L Calmar Ratio Rank: 8484
Calmar Ratio Rank
USSC.L Martin Ratio Rank: 7676
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.

IUCB.L vs. USSC.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg 1-10 Year US Corporate Bond UCITS ETF (IUCB.L) and SPDR MSCI USA Small Cap Value Weighted UCITS ETF (USSC.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.

IUCB.LUSSC.LDifference
Sharpe ratioReturn per unit of total volatility
1.38
2.29

-0.91

Sortino ratioReturn per unit of downside risk
2.02
3.34

-1.31

Omega ratioGain probability vs. loss probability

1.26

1.39

-0.13

Calmar ratioReturn relative to maximum drawdown

2.60

4.50

-1.90

Martin ratioReturn relative to average drawdown

8.50

14.41

-5.91

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

IUCB.L vs. USSC.L - Sharpe Ratio Comparison

The current IUCB.L Sharpe Ratio is 1.38, which is lower than the USSC.L Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of IUCB.L and USSC.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

IUCB.LUSSC.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.38

2.29

-0.91

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.47

0.45

+0.03

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.52

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.48

0.45

+0.02

Drawdowns

IUCB.L vs. USSC.L - Drawdown Comparison

The maximum IUCB.L drawdown since its inception was -14.12%, smaller than the maximum USSC.L drawdown of -48.99%. Use the drawdown chart below to compare losses from any high point for IUCB.L and USSC.L.

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Drawdown Indicators

IUCB.LUSSC.LDifference

Max Drawdown

Largest peak-to-trough decline

-14.12%

-48.99%

+34.87%

Max Drawdown (1Y)

Largest decline over 1 year

-2.00%

-8.12%

+6.12%

Max Drawdown (3Y)

Largest decline over 3 years

-3.53%

-27.47%

+23.94%

Max Drawdown (5Y)

Largest decline over 5 years

-14.00%

-27.47%

+13.47%

Max Drawdown (10Y)

Largest decline over 10 years

—

-48.99%

—

Current Drawdown

Current decline from peak

-0.61%

0.00%

-0.61%

Average Drawdown

Average peak-to-trough decline

-3.64%

-7.70%

+4.06%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.61%

2.54%

-1.93%

Volatility

IUCB.L vs. USSC.L - Volatility Comparison

The current volatility for SPDR Bloomberg 1-10 Year US Corporate Bond UCITS ETF (IUCB.L) is 1.09%, while SPDR MSCI USA Small Cap Value Weighted UCITS ETF (USSC.L) has a volatility of 4.10%. This indicates that IUCB.L experiences smaller price fluctuations and is considered to be less risky than USSC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IUCB.LUSSC.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.09%

4.10%

-3.01%

Volatility (6M)

Calculated over the trailing 6-month period

2.46%

10.09%

-7.63%

Volatility (1Y)

Calculated over the trailing 1-year period

3.77%

15.95%

-12.18%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

5.24%

21.62%

-16.38%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

7.66%

22.81%

-15.15%

IUCB.L vs. USSC.L - Expense Ratio Comparison

IUCB.L has a 0.12% expense ratio, which is lower than USSC.L's 0.30% expense ratio.

Dividends

IUCB.L vs. USSC.L - Dividend Comparison

IUCB.L's dividend yield for the trailing twelve months is around 4.67%, while USSC.L has not paid dividends to shareholders.

PositionTTM202520242023202220212020
IUCB.L
SPDR Bloomberg 1-10 Year US Corporate Bond UCITS ETF		4.67%4.66%4.70%3.89%2.62%2.37%2.67%
USSC.L
SPDR MSCI USA Small Cap Value Weighted UCITS ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

IUCB.L and USSC.L have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, IUCB.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

IUCB.L is cheaper with a 0.12% expense ratio, compared with 0.30% for USSC.L.

IUCB.L is categorized as Corporate Bonds, while USSC.L is Small Cap Value Equities. IUCB.L tracks Bloomberg US Corp Bond TR USD, while USSC.L tracks MSCI USA Small Cap Value Weighted Index. Their fees differ too: 0.12% for IUCB.L and 0.30% for USSC.L.

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