IUSF.L vs. SPX4.L
IUSF.L (iShares Edge MSCI USA Size Factor UCITS ETF) and SPX4.L (SPDR S&P 400 US Mid Cap UCITS ETF) are both Mid Cap Blend Equities funds tracking the Russell Mid Cap TR USD, from iShares and State Street respectively. Both are passively managed. Over the past 5 years, IUSF.L returned 7.07%/yr vs 2.49%/yr for SPX4.L. A 0.70 correlation means they provide meaningful diversification when combined. IUSF.L charges 0.20%/yr vs 0.30%/yr for SPX4.L.
Performance
IUSF.L vs. SPX4.L - Performance Comparison
Loading charts...
Different Trading Currencies
IUSF.L is traded in GBp, while SPX4.L is traded in GBP. To make them comparable, the SPX4.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, IUSF.L achieves a 8.56% return, which is significantly lower than SPX4.L's 14.27% return.
IUSF.L
- 1D
- -0.15%
- 1M
- 0.31%
- 6M
- 4.64%
- YTD
- 8.56%
- 1Y
- 13.53%
- 3Y*
- 10.58%
- 5Y*
- 7.07%
- 10Y*
- —
SPX4.L
- 1D
- 0.00%
- 1M
- -1.08%
- 6M
- 7.82%
- YTD
- 14.27%
- 1Y
- 20.65%
- 3Y*
- 11.74%
- 5Y*
- 2.49%
- 10Y*
- 7.27%
IUSF.L vs. SPX4.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IUSF.L iShares Edge MSCI USA Size Factor UCITS ETF | 8.56% | 1.00% | 14.60% | 10.79% | -8.57% | 27.74% | 13.62% | 23.94% | -5.85% | 7.91% |
SPX4.L SPDR S&P 400 US Mid Cap UCITS ETF | 14.27% | 0.12% | 14.37% | 10.71% | -28.36% | 24.10% | 12.97% | 25.47% | -11.60% | 15.60% |
Correlation
The correlation between IUSF.L and SPX4.L is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Oct 17, 2016 | 0.70 |
The correlation between IUSF.L and SPX4.L shifts across timeframes, from 0.70 (all time) to 0.92 (3 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IUSF.L vs. SPX4.L — Risk / Return Rank
IUSF.L
SPX4.L
IUSF.L vs. SPX4.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI USA Size Factor UCITS ETF (IUSF.L) and SPDR S&P 400 US Mid Cap UCITS ETF (SPX4.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.
| IUSF.L | SPX4.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.27 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.82 | 3.13 | -1.31 |
| Martin ratioReturn relative to average drawdown | 5.55 | 9.93 | -4.38 |
Loading charts...
Drawdowns
IUSF.L vs. SPX4.L - Drawdown Comparison
The maximum IUSF.L drawdown since its inception was -33.67%, smaller than the maximum SPX4.L drawdown of -42.03%. Use the drawdown chart below to compare losses from any high point for IUSF.L and SPX4.L.
Loading charts...
Drawdown Indicators
| IUSF.L | SPX4.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.67% | -42.03% | +8.36% |
Max Drawdown (1Y)Largest decline over 1 year | -7.39% | -6.63% | -0.76% |
Max Drawdown (3Y)Largest decline over 3 years | -22.73% | -26.24% | +3.51% |
Max Drawdown (5Y)Largest decline over 5 years | -22.73% | -37.77% | +15.04% |
Max Drawdown (10Y)Largest decline over 10 years | — | -42.03% | — |
Current DrawdownCurrent decline from peak | -2.39% | -2.75% | +0.36% |
Average DrawdownAverage peak-to-trough decline | -5.38% | -8.82% | +3.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.43% | 2.09% | +0.34% |
Volatility
IUSF.L vs. SPX4.L - Volatility Comparison
The current volatility for iShares Edge MSCI USA Size Factor UCITS ETF (IUSF.L) is 3.65%, while SPDR S&P 400 US Mid Cap UCITS ETF (SPX4.L) has a volatility of 4.48%. This indicates that IUSF.L experiences smaller price fluctuations and is considered to be less risky than SPX4.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IUSF.L | SPX4.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.65% | 4.48% | -0.83% |
Volatility (6M)Calculated over the trailing 6-month period | 8.05% | 10.36% | -2.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.19% | 13.75% | -2.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.99% | 20.63% | -4.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.26% | 21.35% | -4.09% |
IUSF.L vs. SPX4.L - Expense Ratio Comparison
IUSF.L has a 0.20% expense ratio, which is lower than SPX4.L's 0.30% expense ratio.
Dividends
IUSF.L vs. SPX4.L - Dividend Comparison
Neither IUSF.L nor SPX4.L has paid dividends to shareholders.
Frequently Asked Questions
IUSF.L and SPX4.L have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IUSF.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IUSF.L is cheaper with a 0.20% expense ratio, compared with 0.30% for SPX4.L.
Both ETFs track Russell Mid Cap TR USD. They also come from different issuers: iShares and State Street. Their fees differ too: 0.20% for IUSF.L and 0.30% for SPX4.L.
Find the right allocation for IUSF.L and SPX4.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer