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IUSE.L vs. UDVD.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IUSE.L vs. UDVD.L

Last updated Jul 18, 2026
Documentation

IUSE.L (iShares S&P 500 EUR Hedged UCITS ETF Acc) and UDVD.L (SPDR S&P US Dividend Aristocrats UCITS ETF Dis) are both exchange-traded funds - IUSE.L is a S&P 500 fund tracking the S&P 500 EUR Hedged Index, while UDVD.L is a Large Cap Blend Equities fund tracking the S&P High Yield Dividend Aristocrats Index. Both are passively managed. Over the past 10 years, IUSE.L returned 12.04%/yr vs 8.47%/yr for UDVD.L. A 0.61 correlation means they provide meaningful diversification when combined. IUSE.L charges 0.20%/yr vs 0.35%/yr for UDVD.L.

Performance

IUSE.L vs. UDVD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares S&P 500 EUR Hedged UCITS ETF Acc (IUSE.L) and SPDR S&P US Dividend Aristocrats UCITS ETF Dis (UDVD.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

IUSE.L is traded in EUR, while UDVD.L is traded in USD. To make them comparable, the UDVD.L values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, IUSE.L achieves a 7.54% return, which is significantly lower than UDVD.L's 15.40% return. Over the past 10 years, IUSE.L has outperformed UDVD.L with an annualized return of 12.04%, while UDVD.L has yielded a comparatively lower 8.47% annualized return.

IUSE.L

1D
-1.30%
1M
-0.65%
6M
6.68%
YTD
7.54%
1Y
17.20%
3Y*
16.87%
5Y*
10.14%
10Y*
12.04%

UDVD.L

1D
0.38%
1M
3.40%
6M
9.30%
YTD
15.40%
1Y
16.86%
3Y*
9.50%
5Y*
7.89%
10Y*
8.47%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IUSE.L vs. UDVD.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IUSE.L
iShares S&P 500 EUR Hedged UCITS ETF Acc		7.54%14.95%23.21%23.05%-21.17%27.85%14.81%26.33%-8.40%19.04%
UDVD.L
SPDR S&P US Dividend Aristocrats UCITS ETF Dis		15.40%-4.31%14.75%-1.00%5.85%34.40%-7.54%25.42%0.57%1.51%

Correlation

The correlation between IUSE.L and UDVD.L is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.16

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

0.34

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

0.49

Correlation (10Y)
Calculated over the trailing 10-year period

0.57

Correlation (All Time)
Calculated using the full available price history since Oct 14, 2011

0.61

Over the past year, the correlation between IUSE.L and UDVD.L has dropped to 0.16 - well below their long-term average of 0.61, suggesting their price drivers have been diverging.

IUSE.L vs. UDVD.L - Sectors Allocation Comparison

Sectors
IUSE.L
UDVD.L

Technology

39.1%
12.1%

Financial Services

11.1%
12.0%

Communication Services

10.6%
2.6%

Consumer Cyclical

9.9%
5.1%

Healthcare

8.3%
7.5%

Industrials

7.8%
17.3%

Consumer Defensive

4.5%
16.3%

Energy

3.1%
3.1%

Utilities

2.1%
14.2%

Real Estate

1.8%
4.5%

Basic Materials

1.7%
5.4%

Technology

IUSE.L
39.1%
UDVD.L
12.1%

Financial Services

IUSE.L
11.1%
UDVD.L
12.0%

Communication Services

IUSE.L
10.6%
UDVD.L
2.6%

Consumer Cyclical

IUSE.L
9.9%
UDVD.L
5.1%

Healthcare

IUSE.L
8.3%
UDVD.L
7.5%

Industrials

IUSE.L
7.8%
UDVD.L
17.3%

Consumer Defensive

IUSE.L
4.5%
UDVD.L
16.3%

Energy

IUSE.L
3.1%
UDVD.L
3.1%

Utilities

IUSE.L
2.1%
UDVD.L
14.2%

Real Estate

IUSE.L
1.8%
UDVD.L
4.5%

Basic Materials

IUSE.L
1.7%
UDVD.L
5.4%

Compare stocks, funds, or ETFs

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

iShares S&P 500 EUR Hedged UCITS ETF Acc

SPDR S&P US Dividend Aristocrats UCITS ETF Dis

Often compared with IUSE.L:
IUSE.L vs. EXS1.DEIUSE.L vs. IBCK.DEIUSE.L vs. IBCF.DEIUSE.L vs. CEMS.DEIUSE.L vs. SPYIUSE.L vs. SNAW.DEIUSE.L vs. SXR8.DE
Often compared with UDVD.L:
UDVD.L vs. SCHDUDVD.L vs. USDV.LUDVD.L vs. VHYD.LUDVD.L vs. VWRD.LUDVD.L vs. WQDV.LUDVD.L vs. JEPQUDVD.L vs. DGRO

Return for Risk

IUSE.L vs. UDVD.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IUSE.L
IUSE.L Risk / Return Rank: 5555
Overall Rank
IUSE.L Sharpe Ratio Rank: 5454
Sharpe Ratio Rank
IUSE.L Sortino Ratio Rank: 5858
Sortino Ratio Rank
IUSE.L Omega Ratio Rank: 5252
Omega Ratio Rank
IUSE.L Calmar Ratio Rank: 5050
Calmar Ratio Rank
IUSE.L Martin Ratio Rank: 5959
Martin Ratio Rank
UDVD.L
UDVD.L Risk / Return Rank: 5454
Overall Rank
UDVD.L Sharpe Ratio Rank: 5858
Sharpe Ratio Rank
UDVD.L Sortino Ratio Rank: 6161
Sortino Ratio Rank
UDVD.L Omega Ratio Rank: 5353
Omega Ratio Rank
UDVD.L Calmar Ratio Rank: 5454
Calmar Ratio Rank
UDVD.L Martin Ratio Rank: 4343
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.

IUSE.L vs. UDVD.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 EUR Hedged UCITS ETF Acc (IUSE.L) and SPDR S&P US Dividend Aristocrats UCITS ETF Dis (UDVD.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.

IUSE.LUDVD.LDifference
Sharpe ratioReturn per unit of total volatility
1.42
1.53

-0.11

Sortino ratioReturn per unit of downside risk
2.14
2.13

+0.01

Omega ratioGain probability vs. loss probability

1.26

1.27

-0.01

Calmar ratioReturn relative to maximum drawdown

1.98

2.81

-0.83

Martin ratioReturn relative to average drawdown

7.93

7.18

+0.75

IUSE.L vs. UDVD.L - Sharpe Ratio Comparison

The current IUSE.L Sharpe Ratio is 1.42, which is comparable to the UDVD.L Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of IUSE.L and UDVD.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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Drawdowns

IUSE.L vs. UDVD.L - Drawdown Comparison

The maximum IUSE.L drawdown since its inception was -34.75%, roughly equal to the maximum UDVD.L drawdown of -35.46%. Use the drawdown chart below to compare losses from any high point for IUSE.L and UDVD.L.

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Drawdown Indicators

IUSE.LUDVD.LDifference

Max Drawdown

Largest peak-to-trough decline

-34.75%

-35.46%

+0.71%

Max Drawdown (1Y)

Largest decline over 1 year

-8.67%

-5.98%

-2.69%

Max Drawdown (3Y)

Largest decline over 3 years

-18.33%

-18.41%

+0.08%

Max Drawdown (5Y)

Largest decline over 5 years

-26.23%

-18.41%

-7.82%

Max Drawdown (10Y)

Largest decline over 10 years

-34.75%

-35.46%

+0.71%

Current Drawdown

Current decline from peak

-1.97%

-0.32%

-1.65%

Average Drawdown

Average peak-to-trough decline

-4.25%

-5.10%

+0.85%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.16%

2.34%

-0.18%

Volatility

IUSE.L vs. UDVD.L - Volatility Comparison

The current volatility for iShares S&P 500 EUR Hedged UCITS ETF Acc (IUSE.L) is 3.05%, while SPDR S&P US Dividend Aristocrats UCITS ETF Dis (UDVD.L) has a volatility of 3.77%. This indicates that IUSE.L experiences smaller price fluctuations and is considered to be less risky than UDVD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IUSE.LUDVD.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.05%

3.77%

-0.72%

Volatility (6M)

Calculated over the trailing 6-month period

9.34%

8.45%

+0.89%

Volatility (1Y)

Calculated over the trailing 1-year period

12.08%

11.07%

+1.01%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.07%

14.16%

+1.91%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.29%

16.25%

+0.04%

IUSE.L vs. UDVD.L - Expense Ratio Comparison

IUSE.L has a 0.20% expense ratio, which is lower than UDVD.L's 0.35% expense ratio.

Dividends

IUSE.L vs. UDVD.L - Dividend Comparison

IUSE.L has not paid dividends to shareholders, while UDVD.L's dividend yield for the trailing twelve months is around 2.00%.

PositionTTM20252024202320222021202020192018201720162015
IUSE.L
iShares S&P 500 EUR Hedged UCITS ETF Acc		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
UDVD.L
SPDR S&P US Dividend Aristocrats UCITS ETF Dis		2.00%2.17%2.03%2.24%2.13%2.15%2.36%2.01%2.27%1.78%1.83%2.06%

Frequently Asked Questions

IUSE.L and UDVD.L have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, IUSE.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

IUSE.L is cheaper with a 0.20% expense ratio, compared with 0.35% for UDVD.L.

IUSE.L is categorized as S&P 500, while UDVD.L is Large Cap Blend Equities. IUSE.L tracks S&P 500 EUR Hedged Index, while UDVD.L tracks S&P High Yield Dividend Aristocrats Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.20% for IUSE.L and 0.35% for UDVD.L.

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